Pan American Silver Corp. (“Pan American” or the “Company”) and Tahoe Resources Inc. (“Tahoe”) completed the previously announced transaction (the “Arrangement”) whereby Pan American acquired all of the issued and outstanding shares of Tahoe. Under the Arrangement, Tahoe was entitled to nominate two of its directors to join Pan American's Board of Directors. Tahoe has nominated Messrs. C. Kevin McArthur and Charles A. Jeannes. Effective February 22, 2019, Messrs. C. Kevin McArthur and Charles A. Jeannes joined Pan American's Board of Directors. Kevin and Chuck are seasoned mining executives with deep knowledge of the precious metals industry.

Pan American is also announced that it has amended and extended its revolving credit facility led by The Bank of Nova Scotia and the Canadian Imperial Bank of Commerce as Joint Lead Arrangers and Joint Bookrunners. The facility has been increased by USD 200 million to USD 500 million, and matures on February 1, 2023. At Pan American's option, amounts can be drawn under the revolving facility and will incur interest based on the Company's leverage ratio at either LIBOR plus 1.875% to 2.750% or; The Bank of Nova Scotia's Base Rate on USD denominated commercial loans plus 0.875% to 1.750%. Undrawn amounts under the revolving facility are subject to a stand-by fee of 0.4219% to 0.6188% per annum, dependent on the Company's leverage ratio. Pan American has drawn down USD 301 million under the facility under LIBOR-based interest rates to fund, in part, the cash purchase price under the Arrangement and to repay, in full, and cancel Tahoe's second amended and restated revolving facility, under which USD 125 million had been drawn.