Investor Q&A

1. Does Yamana have any concerns regarding possible changing political situations in South America?

Yamana has excellent government relations in Brazil, Chile, Argentina and Mexico and considers these countries partners in the Company’s success. Yamana is a leading employer in Brazil and employs approximately 9,500 individuals across South America and Mexico.

2. What is the company’s financial position?

Our financial position is solid. In 2012, revenues were a record $2.3 billion, an increase of 8% over 2011. We have a long established trend of cash flow generation. Operating cash flow was $1.04 billion or $1.40 per share. Yamana’s cash and available credit at the end of the year remained strong at $1.1 billion.

3. You are forecasting production to be at an annual rate of approximately 1.75 million gold equivalent ounces by 2014, an increase of over 45 percent from 2012. Where will this growth come from?

Production in 2013 is estimated to be between 1.44 – 1.60 million gold equivalent ounces (GEO)¹ . The annual production increase will be due in part to a full year of production at Mercedes, the ramp-up of the expansion project at Minera Florida, the ramp-up of production at Ernest/Pau-a-Pique and CI Santa Luz and the start-up of production at Pilar.

Production in 2014 is estimated to reach 1.60– 1.77 million GEO. The increase will be in part due to a full year of production from CI Santa Luz, Ernest Pau-a-Pique, Pilar, the Gualcamayo expansion, and the Suruca Oxide and Corpo Sul expansions at Chapada.

4. What is the longer-term plan for Yamana?

Sustainable production is targeted at approximately 1.75 million GEO. We expect to achieve this objective within the intermediate term. We are on track with our current operations and advanced staged development projects to achieve this objective while maintaining our relatively low cost profile.

After completing the current expansion phase, we shall focus on how best to continue growing across all measures and delivering the best value to shareholders.

5. I am receiving information from Yamana Gold from shares in a company that were converted into Yamana Gold Inc. How do I find out what my previous shares are worth now?

CIBC Mellon is Yamana Gold’s transfer agent and they can answer your questions on the share exchange. They can be reached by phone at 416-643-5500 or 1-800-387-0825, or by email at inquiries@canstockta.com

6. Does Yamana pay a dividend?

Yamana currently pays a quarterly dividend of US$0.065 per share.

7. Does Yamana have a Dividend Reinvestment Plan?

Currently, we do not have a Dividend Reinvestment plan in place.

8. Can I buy gold directly from the Company?

It is not possible to purchase gold directly from mining companies. Yamana sells its gold directly to large investment dealers at the spot market price.