PAN AMERN SILVER CORP

Ticker: PAAS CUSIP: 697900108 Class: Common Stock

LEUTHOLD GROUP, LLC's Holding History (CIK: 0001170152)

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

Q4 2025

Shares 62,115 Value ($000) $3,218 Avg Close $41.86 Range $33.08 - $55.85

Q3 2025

Shares 122,339 Value ($000) $4,738 Avg Close $32.15 Range $26.77 - $39.60

Q2 2025

Shares 123,572 Value ($000) $3,509 Avg Close $25.88 Range $20.55 - $29.66

Q1 2025

Shares 125,486 Value ($000) $3,241 Avg Close $23.93 Range $20.35 - $27.47

Q4 2024

Shares 132,743 Value ($000) $2,684 Avg Close $22.37 Range $19.80 - $26.05

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	62,115	$3,218	$41.86	$33.08 - $55.85
Q3 2025	122,339	$4,738	$32.15	$26.77 - $39.60
Q2 2025	123,572	$3,509	$25.88	$20.55 - $29.66
Q1 2025	125,486	$3,241	$23.93	$20.35 - $27.47
Q4 2024	132,743	$2,684	$22.37	$19.80 - $26.05