GREAT PANTHER MINING LIMITED ANNUAL INFORMATION FORM FOR THE YEAR ENDED DECEMBER 31, 2020 March 11, 2021 Great Panther Mining Limited 1 Annual Information Form for the year ended December 31, 2020 GREAT PANTHER MINING LIMITED (“COMPANY”) ANNUAL INFORMATION FORM CONTENTS CONTENTS ............................................................................................................................................................. 2 1. IMPORTANT INFORMATION ABOUT THIS DOCUMENT ............................................................................. 4 1.A. DATE OF INFORMATION .................................................................................................................................. 4 1.B. NOMENCLATURE ............................................................................................................................................. 4 1.C. FINANCIAL INFORMATION AND REPORTING CURRENCY ................................................................................ 4 1.D. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS ............................................................ 4 1.E. SCIENTIFIC AND TECHNICAL INFORMATION ................................................................................................. 11 1.F. CANADIAN MINERAL PROPERTY STANDARDS AND RESERVE/ RESOURCE ESTIMATES ................................. 12 1.G. CAUTIONARY NOTES TO U.S. INVESTORS REGARDING RESOURCE AND RESERVE ESTIMATES ..................... 13 1.H. GLOSSARY OF TERMS AND UNITS OF MEASURE ........................................................................................... 14 2. CORPORATE STRUCTURE ........................................................................................................................ 18 2.A. NAME, ADDRESS AND INCORPORATION ....................................................................................................... 18 2.B. INTERCORPORATE RELATIONSHIPS ............................................................................................................... 18 3. GENERAL DEVELOPMENT OF THE BUSINESS ........................................................................................... 19 3.A. GENERAL ........................................................................................................................................................ 19 3.B. KEY DEVELOPMENTS ..................................................................................................................................... 20 3.C. SIGNIFICANT ACQUISITIONS .......................................................................................................................... 24 4. DESCRIPTION OF THE BUSINESS ............................................................................................................. 24 4.A. PRINCIPAL MARKETS ..................................................................................................................................... 24 4.B. PRODUCT MARKETING, SALES AND DISTRIBUTION ...................................................................................... 25 4.C. SEASONALITY ................................................................................................................................................. 27 4.D. SPECIALIZED SKILL AND KNOWLEDGE ........................................................................................................... 27 4.E. COMPETITIVE CONDITIONS ........................................................................................................................... 27 4.F. DOING BUSINESS IN BRAZIL, MEXICO AND PERU .......................................................................................... 28 4.G. ENVIRONMENTAL PROTECTION .................................................................................................................... 31 4.H. EMPLOYEES ................................................................................................................................................... 32 4.I. COMMUNITY ENGAGEMENT AND SUSTAINABLE DEVELOPMENT ................................................................ 33 4.J. HEALTH AND SAFETY ..................................................................................................................................... 34 5. MINING PROPERTIES .............................................................................................................................. 36 5.A. TUCANO ......................................................................................................................................................... 36 5.B. GMC ............................................................................................................................................................... 51 5.C. TOPIA ............................................................................................................................................................. 64 6. ADVANCED-STAGE PROJECTS ................................................................................................................. 73 6.A. CORICANCHA ................................................................................................................................................. 73 7. PRIMARY EXPLORATION PROPERTIES .................................................................................................... 87 8. RISK FACTORS ........................................................................................................................................ 94 9. DIVIDENDS ........................................................................................................................................... 120 10. DESCRIPTION OF CAPITAL STRUCTURE ................................................................................................. 121 11. MARKET FOR SECURITIES ..................................................................................................................... 121 Great Panther Mining Limited 2 Annual Information Form for the year ended December 31, 2020 11.A. TRADING PRICE AND VOLUME .................................................................................................................... 121 11.B. PRIOR SALES ................................................................................................................................................ 122 12. ESCROWED SECURITIES ........................................................................................................................ 123 13. DIRECTORS AND OFFICERS ................................................................................................................... 123 13.A. NAMES, OCCUPATIONS AND SECURITY HOLDINGS..................................................................................... 123 13.B. CEASE TRADE ORDERS, BANKRUPTCIES, PENALTIES OR SANCTIONS .......................................................... 126 13.C. CONFLICTS OF INTEREST ............................................................................................................................. 127 14. AUDIT COMMITTEE INFORMATION ...................................................................................................... 127 14.A. AUDIT COMMITTEE CHARTER ..................................................................................................................... 127 14.B. MEMBERS OF THE AUDIT COMMITTEE ....................................................................................................... 128 14.C. PRE-APPROVAL POLICY ................................................................................................................................ 129 14.D. EXTERNAL AUDITOR SERVICE FEES .............................................................................................................. 129 15. LEGAL PROCEEDINGS AND REGULATORY ACTIONS .............................................................................. 129 15.A. VARIOUS CLAIMS RELATED TO BRAZIL INDIRECT TAXES AND LABOUR MATTERS ...................................... 130 15.B. ENVIRONMENTAL DAMAGES - WILLIAM CREEK.......................................................................................... 130 15.C. ARCHAEOLOGICAL SITES DAMAGE .............................................................................................................. 130 15.D. CYANIDE USAGE .......................................................................................................................................... 131 16. INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS ........................................... 131 17. TRANSFER AGENTS AND REGISTRARS .................................................................................................. 131 18. MATERIAL CONTRACTS ........................................................................................................................ 132 18.A. LIST OF MATERIAL CONTRACTS ................................................................................................................... 132 18.B. DESCRIPTION OF MATERIAL CONTRACTS .................................................................................................... 132 19. INTERESTS OF EXPERTS ........................................................................................................................ 133 20. ADDITIONAL INFORMATION ...............................................................................................................