NI 43-101 TECHNICAL REPORT EL PEÑÓN GOLD-SILVER MINE ANTOFAGASTA REGION, CHILE Qualified Persons: Sergio Castro, Registered Member CMC Marco Velásquez Corrales, Registered Member CMC Henry Marsden, P.Geo. Carlos Iturralde, P.Eng. Royal Bank Plaza, North Tower 200 Bay Street, Suite 2200 Effective Date: December 31, 2020 Toronto, Ontario M5J 2J3 Signature Date: March 25, 2021 SIGNA TURE PA GE Yamana Gold Inc. NI 43-101 TECHNICAL REPORT Royal Bank Plaza, North Tower 200 Bay Street, Suite 2200 EL PEÑÓN GOLD-SILVER MINE Toronto, ON, Canada ANTOFAGASTA REGION, CHILE M5J 2J3 Effective Date: December 31, 2020 Signature Date: March 25, 2021 Authors: [Signature] [Signature] Sergio Castro Marco Velásquez Corrales, Registered Member CMC Registered Member CMC Technical Services Manager, El Peñón Chief Resource Geologist, El Peñón Yamana Gold Inc. Yamana Gold Inc. [Signature] [Signature] Henry Marsden, P.Geo. Carlos Iturralde, P.Eng. Senior Vice President, Exploration Director, Tailings, Health, Safety & Yamana Gold Inc. Sustainable Development Yamana Gold Inc. Reviewer [Signature] Sébastien Bernier, P.Geo. Senior Director, Geology & Mineral Resources, Yamana Gold Inc. Technical Report El Peñón Mine, Chile TABLE OF CONTENTS SIGNATURE PAGE ................................................................................................................................. I TABLE OF CONTENTS .......................................................................................................................... II CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS ........................................ VIII LIST OF ABBREVIATIONS.................................................................................................................... XI 1 SUMMARY ...................................................................................................................................... 1 PROPERTY DESCRIPTION ............................................................................................................ 1 GEOLOGY AND MINERALIZATION................................................................................................... 2 EXPLORATION STATUS ................................................................................................................ 2 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES............................................................... 3 MINING AND PROCESSING METHODS ............................................................................................ 6 ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT.................................. 6 CONCLUSIONS AND RECOMMENDATIONS ....................................................................................... 7 2 INTRODUCTION ........................................................................................................................... 11 SOURCES OF INFORMATION ....................................................................................................... 12 3 RELIANCE ON OTHER EXPERTS ................................................................................................ 13 4 PROPERTY DESCRIPTION AND LOCATION............................................................................... 14 MINERAL AND SURFACE TENURE ................................................................................................ 15 UNDERLYING AGREEMENTS ....................................................................................................... 23 PERMITS AND AUTHORIZATIONS ................................................................................................. 23 ENVIRONMENTAL CONSIDERATIONS ............................................................................................ 23 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY 24 ACCESSIBILITY ......................................................................................................................... 24 CLIMATE .................................................................................................................................. 24 LOCAL RESOURCES .................................................................................................................. 24 INFRASTRUCTURE ..................................................................................................................... 24 PHYSIOGRAPHY ........................................................................................................................ 25 6 HISTORY....................................................................................................................................... 26 HISTORICAL MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES........................................... 26 PAST PRODUCTION ................................................................................................................... 26 7 GEOLOGICAL SETTING AND MINERALIZATION ....................................................................... 28 REGIONAL GEOLOGY ................................................................................................................ 28 LOCAL GEOLOGY...................................................................................................................... 29 PROPERTY GEOLOGY ............................................................................................................... 32 Signature Date: March 25, 2021 ii Technical Report El Peñón Mine, Chile Structure ............................................................................................................................................... 32 MINERALIZATION ...................................................................................................................... 34 8 DEPOSIT TYPES .......................................................................................................................... 36 9 EXPLORATION ............................................................................................................................. 37 EXPLORATION POTENTIAL ......................................................................................................... 37 10 DRILLING...................................................................................................................................... 39 11 SAMPLE PREPARATION, ANALYSES, AND SECURITY ............................................................ 43 SAMPLE PREPARATION AND ANALYSIS ........................................................................................ 43 Sampling of Drill Core .................................................................................................................... 43 Underground Channel Sampling .................................................................................................. 44 Preparation and Analytical Procedures ....................................................................................... 45 QUALITY ASSURANCE/ QUALITY CONTROL .................................................................................. 48 Certified Reference Materials ....................................................................................................... 50 Blank Samples ................................................................................................................................ 51 Umpire Laboratory Check Assays ................................................................................................ 53 SAMPLE SECURITY ................................................................................................................... 54 12 DATA VERIFICATION ................................................................................................................... 56 13 MINERAL PROCESSING AND METALLURGICAL TESTING ....................................................... 57 PROCESSING PLANT ................................................................................................................. 57 METALLURGICAL TESTING ......................................................................................................... 57 14 MINERAL RESOURCE ESTIM ATES ............................................................................................. 60 MINERAL RESOURCE SUMMARY ................................................................................................. 60 RESOURCE DATABASE AND VALIDATION...................................................................................... 62 DEFINITION AND INTERPRETATION OF ESTIMATION DOMAINS ......................................................... 62 COMPOSITING METHODS ........................................................................................................... 64 BASIC STATISTICS .................................................................................................................... 64 SPECIFIC GRAVITY.................................................................................................................... 66 VARIOGRAPHY ......................................................................................................................... 66 BLOCK MODELS ....................................................................................................................... 68 BLOCK MODEL VALIDATION ....................................................................................................... 71 RESOURCE CLASSIFICATION .................................................................................................