S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

TORONTO, Aug. 27, 2025 /CNW/ - The shareholders of Pan American Silver Corp (TSX: PAAS) and MAG Silver Corp. (TSX:MAG) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of Pan American Silver will be exchanged for US$20.54 in cash or 0.755 shares of Pan American Silver for each MAG Silver share held, subject to proration such that the aggregate consideration paid to MAG Silver consists of US$500 million cash and the remaining consideration in Pan American Silver shares.

In anticipation of shareholder approval and the arrangement closing, MAG Silver Corp will be removed from the S&P/TSX Composite Index prior to the open of trading on September 4, 2025. The shares outstanding of Pan American Silver will be increased at the same time to reflect the issuance of shares. Accordingly, the new shares outstanding of Pan American Silver will be increased to 421,926,547 with a decreased IWF of 0.99.

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