COMPANY OPERATIONS SUSTAINABILITY INVESTORS NEWS CAREERS EN ES INVEST IN SILVER Silver is in demand both as an industrial metal and as a safe-haven investment. SILVER DEMAND About 50% of the demand for silver is for industrial applications. Silver has the highest electrical and thermal conductivity of all metals, making it an important metal in the transition to a low-carbon economy. Silver is consumed in building photovoltaic panels for solar power generation and in electronic devices, with future demand growth from electric vehicles and the deployment of 5G networks. The main sources of demand are: 20% JEWELRY 19% COINS & BARS 30% ELECTRICAL & ELECTRONICS 10% PHOTOVOLTAICS SILVER SUPPLY Global mine production fell for the 4th consecutive year in 2019. Most of the silver produced does not come from primary silver mines, but rather as a by-product of mines that primarily produce copper, gold or other metals. The main sources of supply are: 82% MINE PRODUCTION 17% RECYCLING METAL OF THE FUTURE Silver's unique qualities allows the metal to be used in a variety of applications, from clean energy generation to protecting human health. LEARN ABOUT INVESTING IN SILVER As a precious metal, silver is valued by investors as a safe-haven investment, providing portfolio diversification when the broader economic environment weakens. METALS FOCUS THE SILVER MARKET The Silver Institute publishes the World Silver Survey, providing annual supply and demand statistics on the silver market. THE SILVER INSTITUTE LOW-CARBON FUTURE A report from the World Bank indicates silver is expected to be one of the critical metals needed for the transition to a low-carbon future. WORLD BANK REPORT COMPANY OPERATIONS SUSTAINABILITY INVESTORS CAREERS CONTACT US 625 Howe Street, Suite 1440 Vancouver, British Columbia V6C 2T6 Canada Tel: (604) 684-1175 Fax: (604) 684-0147 @PANAMERICANSILVER Connect with us on LinkedIn NON-GAAP MEASURES LEGAL NOTICE SITE MAP COPYRIGHT 2021 PAN AMERICAN SILVER. ALL RIGHTS RESERVED. Company Operations Sustainability Investors News Careers