20 2 01 9 S U S T AINABILITY REPOR T S u s t a i na b i l i t y G o v e r na n c e a n d M a na g e m e nt B oard o f D i r e c t o r s Good g o v ernanc e is critic al f or ef ectiv e c orpor at e perf ormanc e and pla y s a major r ole in pr ot ecting s t ak eholder int er e s t s and maximizing s t ak eholder v alue O ur B o ar d o f Dir ect or s the B o ar d o v er s ee s the dir ection and s tr at egy o f the busine s s guided b y P an Americ an Silv er s v alue s legislativ e and other g o v ernanc e s t andar ds s t ock e x chang e rule s and indus tr y be s t pr actic e s The B o ar d e x ecut e s o v er all r e sponsibilit y f or c orpor at e g o v ernanc e matt er s b y Appr o ving c orpor at e policie s and guideline s A s sis ting in the de fnition o f c orpor at e objectiv e s as s e s sing and appr o ving k e y plans E v aluating C omp an y perf ormanc e on a r egular b asis E nsuring that the C omp an y is led b y qualifed e x ecutiv e s and s enior manag er s F or additional det ails on our B o ar d s mandat e member s c ommitt ee s pr oc e s s e s and our c orpor at e policie s s ee our Inf ormation Cir cular or the c orpor at e g o v ernanc e s ection on our w eb sit e S u sta i na b i l i t y Go v er na n c e S t r u c t u r e Sus t ainabilit y is embedded in our vision v alue s and busine s s s tr at egy Go v ernanc e and o v er sight o f sus t ainabilit y at P an Americ an Silv er s t art at the B o ar d le v el O ur He alth S af et y E n vir onment and C ommunitie s B o ar d C ommitt ee r e vie w s the C omp an y s sus t ainabilit y perf ormanc e on a quart erly b asis and r eport s b ack t o the full B o ar d F r om the t op le v el o f the or g aniz ation ac c ount abilit y f or sus t ainabilit y c as c ade s t o our sit e s Sus t ainabilit y is embedded in our vision v alue s and busine s s s tr at egy Go v ernanc e and o v er sight o f sus t ainabilit y at P an Americ an Silv er s t art at the B o ar d le v el