PAN AMERN SILVER CORP

Ticker: PAAS CUSIP: 697900108 Class: Common Stock

STRATEGIC INVESTMENT MANAGEMENT, LLC's Holding History (CIK: 0000846633)

Note: Option positions (PUT/CALL) are excluded.

Q4 2016

Shares 23,432 Value ($000) $353 Avg Close $16.12 Range $13.80 - $18.37

Q3 2016

Shares 25,294 Value ($000) $445 Avg Close $18.70 Range $16.71 - $21.59

Q2 2016

Shares 26,317 Value ($000) $432 Avg Close $14.31 Range $10.38 - $16.49

Q1 2016

Shares 44,062 Value ($000) $478 Avg Close $8.57 Range $5.38 - $11.30

Q4 2015

Shares 28,657 Value ($000) $186 Avg Close $7.20 Range $6.10 - $8.80

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	23,432	$353	$16.12	$13.80 - $18.37
Q3 2016	25,294	$445	$18.70	$16.71 - $21.59
Q2 2016	26,317	$432	$14.31	$10.38 - $16.49
Q1 2016	44,062	$478	$8.57	$5.38 - $11.30
Q4 2015	28,657	$186	$7.20	$6.10 - $8.80