Yamana Gold : 2022 Annual General Meeting

CAUTIONARY NOTE

REGARDING FORWARD LOOKING STATEMENTS

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This presentation contains or incorporates by reference contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian and United Kingdom securities legislation. Forward-looking information includes, but is not limited to any information with respect to the Company's strategy, plans, or future financial or operating performance, climate change action strategy and targets, guidance on expected production, costs and capital spending, growth objectives and the timing and funding thereof, future dividend payments and strategies, continued advancements at Jacobina (including the phased expansions and the expected timing thereof), Canadian Malartic (including the development of the Odyssey project and expected timing of shaft sinking and commencement of production), Cerro Moro (including the phased expansion), El Peñón, Minera Florida and Minera Agua Rica Alumbrera (MARA), the advancement of development projects including the Wasamac project's development and the funding and timing thereof, the Lavra Velha heap leach prospect and potential costs, production and timing thereof, the 10-year production outlook, objectives for growth, targets and production contemplated in the Company's growth strategy, the global economic impact of COVID-19 and its effect on the Company and market conditions, future share price performance, future gold, silver and copper price performance, valuations, plans and objectives for future exploration and expected timing for the release of exploration updates, exploration potential and generative exploration strategies and budgets, future feasibility and pre-feasibility studies and the expected timing thereof, and the potential for future growth to mineral resources and mineral reserves. Forward-looking statements are characterized by words such as "plan," "expect", "budget", "target", "project", "intend", "believe", "anticipate", "estimate" and other similar words or negative versions thereof, or statements that certain events or conditions "may", "will", "should", "would" or "could" occur. Forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the impact of general domestic and foreign business, economic and political conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating metal prices (such as gold, copper, silver and zinc), currency exchange rates (such as the Brazilian real, the Chilean peso, the Argentine peso, and the Canadian dollar versus the United States dollar), interest rates, possible variations in ore grade or recovery rates, changes in the Company's hedging program, changes in accounting policies, changes in Mineral Reserves and Mineral Resources, risks related to acquisitions and/or dispositions, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs, risks associated with infectious diseases, including COVID-19, nature and climatic condition risks, risks related to joint venture operations, the possibility of project cost overruns or unanticipated costs and expenses, potential impairment charges, and general risks of the mining industry, including but not limited to, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, final pricing for concentrate sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting timelines, environmental and government regulation and the risk of government expropriation or nationalization of mining operations, risks related to relying on local advisors and consultants in foreign jurisdictions, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage, timing and possible outcome of pending and outstanding litigation and labour disputes, risks related to enforcing legal rights in foreign jurisdictions, vulnerability of information systems including cyber attacks and risks related to global financial conditions, as well as those risk factors discussed or referred to herein and in the Company's Annual Information Form filed with the securities regulatory authorities in all provinces of Canada and available atwww.sedar.com, and the Company's Annual Report on Form 40-F filed with the United States Securities and Exchange Commission. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company's expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company's plans and objectives and may not be appropriate for other purposes.

Non-GAAP Measures:

The Company has included certain non-GAAP financial performance measures and ratios, which the Company believes that together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP financial performance 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. The non-GAAP financial performance measures included in this presentation include: free cash flow before dividends and debt repayments, cash costs per gold equivalent ounce sold, all-in sustaining costs (AISC) per gold equivalent ounce sold. Reconciliations and descriptions associated with the above financial performance measures can be found in section 12 of the Company's year-end 2021 Management's Discussion and Analysis, dated February 17, 2022, and section 11 of Management's Discussion and Analysis for the quarter ended March 31, 2022, dated April 27, 2022, as filed on SEDAR atwww.sedar.comwhich includes a detailed discussion of the usefulness of the non-GAAP measures. The Company believes that in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors and analysts use this information to evaluate the Company's performance. In particular, management uses these measures for internal valuation for the period and to assist with planning and forecasting of future operations.

Qualified Persons

Scientific and technical information contained in this presentation has been reviewed and approved by Sébastien Bernier (Senior Director, Reserves and Resources). Sébastien Bernier P.Geo is an employee of Yamana Gold Inc. and a "Qualified Person" as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects Data verification related to certain scientific and technical information disclosed herein in connection with Yamana's material properties can be found in the Company's technical reports entitled "NI 43-101 Technical Report, El Peñón Gold-Silver Mine, Antofagasta Region, Chile" and dated effective December 31, 2020, "NI 43-101 Technical Report, Jacobina Gold Mine, Bahia State, Brazil" and dated effective December 31, 2019, and "NI 43-101 Technical Report, Canadian Malartic Mine, Quebec, Canada" and dated effective December 31, 2020 available under the Company's profile on SEDAR atwww.sedar.comand on the Company's website. The information presented herein was approved by management of Yamana Gold on April 27, 2022.

All amounts are expressed in United States dollars unless otherwise indicated.

This presentation includes market and industry data which was obtained from various publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third party sources referred to in this presentation, or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying assumptions relied upon by such sources. The Company does not make any representation as to the accuracy of such information.

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HEALTH, SAFETY AND SUSTAINABLE DEVELOPMENT

• • Total Recordable Injury Rate of 0.73(1) for 2021

• • Continuing to effectively manage COVID-19; more than 99% of the Company's employees and contractors have received at least one dose of a COVID-19 vaccine and at present more than 96% have received two doses(2)

• • Successfully completed the second year of a three-year implementation of the Mining Association of

  Canada's Towards Sustainable Mining program and the World Gold Council's Responsible Gold Mining

  Principles

• • Completed inaugural Climate Action Report outlining how the Company will achieve its science-based 1.5ºC GHG abatement target compared to pre-industrial levels by 2030(3)

• • The Company is on track to produce approximately 85% of GEO(4), from its wholly owned mines, using renewable energy by the end of 2022

• • In December the MARA project was recognized at the Silver and Gold Summit in Buenos Aires for their public participation program and efforts to engage and introduce communities to mining

• • 1. Calculated on a 200,000 exposure hours basis including employees and contractors at wholly owned operations. This rate is exclusive of Canadian Malartic, in which we hold a 50% interest

  • 2. Vaccination rates are exclusive of Canadian Malartic, in which we hold a 50% interest. Vaccination rates at Canadian Malartic are in line with the high Abitibi-Témiscamingue regional rates

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  • 3. See Cautionary Note Regarding Forward-Looking Information

  • 4. Gold equivalent ounces assumes gold ounces plus the gold equivalent of silver ounces using a ratio of 72.00 for guidance periods

2021 OPERATIONAL PERFORMANCE

GEO(2) production of 1,011,180 ounces was ahead of annual guidance following several stand-out performances across the portfolio. Gold production of 240,718 oz in Q4 was a quarterly record, while Jacobina delivered a record production year and many other assets including El

Peñón and Canadian Malartic exceeded guidance.

• 1. A non-GAAP financial performance measure. Please refer to section 12 of the Company's Management's Discussion and Analysis for the year ended December 31, 2021, dated February 17, 2022 as filed on SEDAR atwww.sedar.com, EDGAR and incorporated by reference to this presentation. The most directly comparable GAAP metric is cost of sales

• 2. GEO assumes gold ounces plus the gold equivalent of silver ounces. GEO calculations for actuals are based on an average market gold to silver price ratio of 72.55 for the year-ended December 31, 2021

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