Pan American Silver : 2022 Form of Proxy

PAAQ 000001

*S000001Q01*

SAM SAMPLE
123 SAMPLES STREET	Security Class
SAMPLETOWN SS X9X X9X	COMMON
CANADA
Holder Account Number
C9999999999

IND

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Form of Proxy - Annual General and Special Meeting to be held on Wednesday, May 11, 2022

This Form of Proxy is solicited by and on behalf of Management.

Notes to proxy

• 1. Every holder has the right to appoint some other person or company of their choice, who need not be a holder, to attend and act on their behalf at the meeting or any adjournment or postponement thereof. If you wish to appoint a person or company other than the Management Nominees whose names are printed herein, please insert the name of your chosen proxyholder in the space provided (see reverse).

• 2. If the securities are registered in the name of more than one owner (for example, joint ownership, trustees, executors, etc.), then all those registered should sign this proxy. If you are voting on behalf of a corporation or another individual you may be required to provide documentation evidencing your power to sign this proxy with signing capacity stated.

• 3. This proxy should be signed in the exact manner as the name(s) appear(s) on the proxy.

• 4. If a date is not inserted in the space provided on the reverse of this proxy, it will be deemed to bear the date on which it was mailed to the holder by Management.

• 5. The securities represented by this proxy will be voted as directed by the holder, however, if such a direction is not made in respect of any matter, and the proxy appoints the Management Nominees listed on the reverse, this proxy will be voted as recommended by Management.

• 6. The securities represented by this proxy will be voted in favour, or withheld from voting, or voted against each of the matters described herein, as applicable, in accordance with the instructions of the holder, on any ballot that may be called for. If you have specified a choice with respect to any matter to be acted on, the securities will be voted accordingly.

• 7. This proxy confers discretionary authority in respect of amendments or variations to matters identified in the Notice of Meeting and Management Information Circular or other matters that may properly come before the meeting or any adjournment or postponement thereof, unless prohibited by law.

8. This proxy should be read in conjunction with the accompanying documentation provided by Management.

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Proxies submitted must be received by 3:00 pm (Vancouver Time) on Monday, May 9, 2022.

VOTE USING THE TELEPHONE OR INTERNET 24 HOURS A DAY 7 DAYS A WEEK!

• • Call the number listed BELOW from a touch tone telephone.

  1-866-732-VOTE (8683) Toll Free

To Receive Documents Electronically

• • You can enroll to receive future securityholder communications electronically by visitingwww.investorcentre.com.

If you vote by telephone or the Internet, DO NOT mail back this proxy.

Voting by mail may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual.

Voting by mail or by Internet are the only methods by which a holder may appoint a person as proxyholder other than the Management Nominees named on the reverse of this proxy. Instead of mailing this proxy, you may choose one of the two voting methods outlined above to vote this proxy.

To vote by telephone or the Internet, you will need to provide your CONTROL NUMBER listed below.

CONTROL NUMBER 23456 78901 23456

PAAQ_PRX_337051/000001/000001/i

Appointment of Proxyholder

I/We being holder(s) of securities of Pan American Silver Corp. (the "Company") hereby appoint: Michael Steinmann, or failing this person, Ignacio Couturier (the "Management Nominees")

as my/our proxyholder with full power of substitution and to attend, act and to vote for and on behalf of the holder in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and on all other matters that may properly come before the Annual General and Special Meeting of shareholders of the Company to be held at 1200 Waterfront Centre, 200 Burrard Street, Vancouver, British Columbia on Wednesday, May 11, 2022 at 3:00 pm (Vancouver Time), and at any adjournment or postponement thereof.

VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT OVER THE BOXES.

1. Election of Directors

01. Michael Carroll

04. Jennifer Maki

07. Michael Steinmann

2. Appointment of Auditors

Appointment of Deloitte LLP as Auditors of the Company for the ensuing year and authorizing the Directors to fix their remuneration.

3. Advisory Resolution on Compensation

To consider and, if thought appropriate, to pass an ordinary, non-binding "say on pay" resolution approving the Company's approach to executive compensation, the complete text of which is set out in the information circular for the Meeting.

Signature(s)

Signature of Proxyholder

I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting instructions are indicated above, and the proxy appoints the Management Nominees, this Proxy will be voted as recommended by Management.

Interim Financial Statements - Mark this box if you would like to receive Interim Financial Statements and accompanying Management's Discussion and Analysis by mail.

If you are not mailing back your proxy, you may register online to receive the above financial report(s) by mail atwww.computershare.com/mailinglist.

SAM SAMPLE

C9999999999 *C9999999999*

IND C01

OR

For

Withhold

02. Neil de Gelder

05. Walter Segsworth

08. Gillian Winckler

PAAQ

337051

Print the name of the person you are appointing if this person is someone other than the Management Nominees listed herein.

For

*C9999999999*

Withhold

03. Charles Jeannes

06. Kathleen Sendall

Annual Financial Statements - Mark this box if you would like to receive the Annual Financial Statements and accompanying Management's Discussion and Analysis by mail.

For

Withhold

Date

Information Circular - Mark this box if you would like to receive the Information Circular by mail for the next securityholders' meeting.

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1PIZ

A R 1

99999