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March 18, 2020

Yamana continues to closely monitor developments around the outbreak of the COVID-19 virus. Currently, none of our employees have been diagnosed with the virus and it is business as usual at our operations, but we are monitoring the situation closely and taking every precaution to ensure the safety of our people, communities, and continuity of our business.

We formed a crisis response committee in the early phases of the outbreak consisting of the Company’s senior business and operational leaders to ensure we are in position to take quick and decisive action in what remains a fluid and fast-moving environment. The committee is in constant communication and consulting regularly with medical experts, our employees, governmental representatives, and other stakeholders to ensure we have the right plans and protocols in place.

Some of the decisions and actions the committee has undertaken include: temporarily restricting all employee travel; temporarily shifting to remote work arrangements at our corporate and regional offices; increasing screening procedures at our mines, including implementing rigid requirements around social distancing, restricting visitors, temperature checks of all employees entering our mines, staggered meal times; increased cleaning and disinfecting at all of our sites; and increasing staffing and support at our existing on-site medical clinics as a precautionary measure.

In addition to our normal contingency and redundancy business planning, we began reviewing our entire supply chain as part of our crisis committee activities to ensure continuity of our supply chain, taking steps to ensure we have sufficient supply of materials, in some cases setting up alternative supply of key materials from in-country suppliers. We have also reviewed and updated our business continuity planning to minimize disruptions, in certain cases stockpiling additional ore to ensure continuity of operations in the event of an interruption.

While the situation remains fluid, we are not currently aware of any measures being implemented by our host governments that could potentially impact our operations. We are aware that the Chilean government has decreed a state of emergency that restricts certain activities. It does not presently have an impact on Yamana’s operations and we will comply with all requirements. We are continuously monitoring the situation and in regular communication with our host government and community partners.

Yamana has always been a strong, resilient, and compassionate Company. Our people continue to show outstanding dedication and commitment in this challenging time. We are here for each other and for our host communities and countries, and we will get through this together.


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Yamana discloses certain non-GAAP measures including Cash costs per ounce of gold, Cash costs per ounce of silver, Co-product cash costs per ounce of gold, Co-product cash costs per ounce of silver, Co-product cash costs per pound of copper, All-in sustaining costs per ounce of gold, All-in sustaining costs per ounce of silver, All-in sustaining co-product costs per ounce of gold, and All-in sustaining co-product costs per ounce of silver to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS. The term IFRS and generally accepted accounting principles (“GAAP”) are used interchangeably. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

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