Corporatesummary June 2017

1. Corporate Summary
June 2017

2. Cautionary Note Regarding Forward-Looking Statements
2
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This presentation contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of
1995 and applicable Canadian securities legislation. Except for statements of historical fact relating to the Company, information contained herein constitutes forward-looking statements, including any
information as to the Company’s strategy, plans or future financial or operating performance, the outcome of the legal matters involving the damages assessment and any related enforcement proceedings.
Forward-looking statements are characterized by words such as “plan,” “expect”, “budget”, “target”, “project”, “intend,” “believe”, “anticipate”, “estimate” and other similar words, or statements that
certain events or conditions “may” or “will” occur. Forward looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are
made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward
looking statements. These factors include the Company’s expectations in connection with the expected production and exploration, development and expansion plans at the Company’s projects discussed
herein being met, the impact of proposed optimizations at the Company’s projects, the impact of the proposed new mining law in Brazil and the impact of general business and economic conditions, global
liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating metal prices (such as gold, copper, silver and zinc), currency
exchange rates (such as the Brazilian Real, the Chilean Peso, and the Argentine Peso versus the United States Dollar), the impact of inflation, possible variations in ore grade or recovery rates, changes in the
Company’s hedging program, changes in accounting policies, changes in mineral resources and mineral reserves, risk related to non-core asset dispositions, risks related to metal purchase agreements, risks
related to acquisitions, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risk related to joint venture
operations, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the
mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, final pricing for concentrate sales, unanticipated results of future studies, seasonality and
unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation and the risk of government expropriation or
nationalization of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcome of pending litigation
and labour disputes, as well as those risk factors discussed or referred to in the Company’s current and annual Management’s Discussion and Analysis and the Annual Information Form filed with the securities
regulatory authorities in all provinces of Canada and available at www.sedar.com, and the Company’s Annual Report on Form 40-F filed with the United States Securities and Exchange Commission. Although the
Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates, assumptions or opinions
should change, except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained herein is presented for the
purpose of assisting investors in understanding the Company’s expected financial and operational performance and results as at and for the periods ended on the dates presented in the Company’s plans and
objectives and may not be appropriate for other purposes.
The Company has included certain non-GAAP financial measures, which the Company believes that together with measures determined in accordance with IFRS, provide investors with an improved ability to
evaluate the underlying performance of the Company. Non-GAAP financial measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures
employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
The non-GAAP financial measures included in this management discussion and analysis include: co-product cash costs per ounce of gold produced, co-product cash costs per ounce of silver produced, co-product
cash costs per pound of copper produced, all-in sustaining co-product costs per ounce of gold produced, all-in sustaining co-product costs per ounce of silver produced, all-in sustaining co-product costs per
pound of copper produced, adjusted earnings or loss, adjusted earnings or loss per share, adjusted operating cash flows, net debt, net free cash flow, and average realized price per ounce of gold sold, average
realized price per ounce of silver sold, average realized price per pound of copper sold. Please refer to section 124 of the Company’s first quarter MD&A filed on SEDAR for a detailed discussion of the usefulness
of the non-GAAP measures. The terms “EBITDA” and “EBITDA Margin” do not have a standardized meaning prescribed by IFRS, and therefore the Company’s definitions are unlikely to be comparable to similar
measures presented by other companies. The Company believes that in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors and analysts use this information
to evaluate the Company’s performance. In particular, management uses these measures for internal valuation for the period and to assist with planning and forecasting of future operations. The presentation
of EBITDA and EBITDA Margin is not meant to be a substitute for the information presented in accordance with IFRS.
The information presented herein was approved by management of Yamana on June 8, 2017.
All amounts are expressed in United States dollars unless otherwise indicated.

3. 3
Where We Are Today
 Six mines in four attractive
jurisdictions
 Poised for significant gold
and silver production
growth
 Two development projects
advancing to plan
 Reasonable and decreasing
cost structure
 A portfolio of non-strategic
assets providing further
optionality
 Enhanced management and
management construct

4. Looking Forward
2017-2019 Production Guidance
4
20%
Gold Production Growth
Over 2017-2019 Period
2017E 2018E 2019E
Yamana gold production (oz.) 940,000 1,030,000 1,100,000
Yamana silver production (oz.) 4,740,000 10,000,000 14,500,000
Chapada copper production (lbs.) 120M 120M 120M
For the coming years, this adds up to an
Achievable and conservative growth plan to
create value
200%
Silver Production Growth
Over 2017-2019 Period
Note: Cerro Moro guidance
• 2018 (gold 80k oz, silver 4.5M oz)
• 2019 (gold 130k oz, silver 9.9M oz)
• 2018-2019 avg AISC (1) <$600/oz gold and <$9.00/oz silver
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.

5. 5
Six Pillars Approach
1. Improve our operations
2. Advance development stage projects
3. Improve the balance sheet and demonstrate financial
performance
4. Make and advance important exploration discoveries
5. Develop a pipeline organically and through strategic initiatives
6. Rationalize and create value from non-strategic assets

6. 6
Improve our operations
• Production and costs better than budget expectations
• Increased consolidated gold production guidance
• Significant production and cost improvements expected
in H2 2017


7. 7
Advance development stage projects
• Cerro Moro advancing on budget and on schedule –
mechanical completion advancing to end of year and
production planned to commence in early 2018
• Government authorization for Canadian Malartic
Extension Project received (April 17, 2017)
• Suruca advancing to production expected in Q2 2019


8. 8

Improve the balance sheet and demonstrate financial
performance
• Continue to maintain strong margins and generate cash
flow: improve over the balance of 2017
• Realized cash proceeds through several monetization
initiatives
• Continue to target net debt
reduction by year-end
(increase in Q1 offsets to
follow in subsequent quarters)
• Financial performance
improvements expected with
planned production increases
and cost decreases through H2
2017

9. 9
Make and advance important exploration discoveries
• Focus and majority of budget targeted on existing operations
• Positive continuation of the programs started in 2016
• Notable results at all six operating mines
• Ramping up exploration
at Cerro Moro
• Expect increases in
Mineral Resources and
Mineral Reserves on a
consolidated basis and by
operation

10. 10
Develop a pipeline organically and through strategic initiatives
• Optimization of and targeting production increases at existing
operations
• Technical Services is advancing studies at Upper
Beaver/Kirkland Lake, Deep Carbonates and other
opportunities
• Advancing exploration program at Monument Bay

11. 11
Rationalize and create value from non-strategic assets
• Reviewing strategic opportunities with respect to Brio Gold –
retain majority stake with current market value of over C$170M
• Advancing re-evaluation of
non-strategic assets toward
having a plan to maximize
value for each asset by
year-end, including
Kirkland Lake, Agua Rica,
Agua de la Falda and Le
Pepa
• Each asset is being
evaluated using a multi-
disciplinary approach

12. Q1 2017 Production
Start of Year Tracking to Expectations
12
Original 2017
Guidance
Q1 2017
Gold Ounces
Chapada 110,000 19,089
El Peñón 140,000 33,637
Canadian Malartic (50%) 300,000 71,382
Gualcamayo 145,000 37,728
Minera Florida 105,000 21,685
Jacobina 120,000 32,126
Yamana Gold Production 920,000 215,647
Silver Ounces
Chapada 260,000 55,926
El Peñón 4,150,000 960,820
Minera Florida 330,000 62,362
Yamana Silver Production 4,740,000 1,079,108
Copper Pounds
Chapada 120M 26.5M
Increased 2017 gold
production guidance to
940k oz.
Well Positioned
with Q1 production
above plan
54% of production expected in H2

13. Q1 2017 Costs
Start of Year Tracking to Expectations
13
2017 Guidance Q1 2017
Above/Below Q1
Plan
Per Gold Ounce (Yamana’s six mines)
Total cost of sales per unit sold $945 - $965 $1,045 Below
Co-product cash costs per unit produced(1) $665 - $675 $687 Below
Co-product AISC per unit produced(1) $890 - $910 $912 Below
Per Silver Ounce
Total cost of sales per unit sold $14.20 $15.14 Below
Co-product cash costs per unit produced(1) $10.55 $10.36 Below
Co-product AISC per unit produced(1) $14.30 $14.24 Below
Per Copper Pound - Chapada
Total cost of sales per unit sold $1.70 $1.79 Below
Co-product cash costs per unit produced(1) $1.60 $1.78 Below
Co-product AISC per unit produced (1) $2.00 $2.13 Below
CostReductionsExpected on AlreadyLowCosts
Due to planned production increases and other
operational improvements in 2017
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.

14. Historical Seasonality
Yamana Yields a Strong Second Half
14
• Note: Represents total metal production with the silver and copper production converted to gold-equivalent based on average realized commodity prices. Excludes partial year production
from Sao Vincente and Sao Francisco in 2010, Canadian Malartic in 2014, and Mercedes in 2016. Includes commissioning production from various mines over 2012-2014.
30%
40%
50%
60%
2010 2011 2012 2013 2014 2015 2016
Yamana Production Weighting
H1 H2
 2017 performance expected to be similar to trend seen since 2010
54% of 2017
production expected
in H2

15. 15
What value would you place on a company with
the following attributes?
A True Value Proposition
 A streamlined portfolio of six, soon to be seven, mines in four quality
jurisdictions
 High quality management well suited to the asset portfolio
 An attractive and increasing production platform
 A reasonable and decreasing cost structure
 Significant exploration potential across the portfolio
 Strong cash flow and free cash flow with expected further increases
 A substantial portfolio of other assets including a substantive investment
in a standalone gold producer with a strong growth profile








16. 16
Investor Relations
200 Bay Street, Suite 2200
Toronto, Ontario
M5J 2J3
416-815-0220/1-888-809-0925
investor@yamana.com
www.yamana.com

17. Appendix
17

18. 18
Operating Highlights By Mine
Chapada
First Quarter Highlights:
 The Advanced Control
System was
commissioned in Q1 and
the cleaner circuit
expansion is advancing
for commissioning in Q4
 These initiatives will
improve processing
stability and increase
gold and copper
recoveries to targeted
annual guidance
 Gold and copper are on
target to achieve 2017
production guidance
Q1 Production Oz./Mlbs Tonnes Processed Grade
Gold 19,089
5,614,753
0.21 g/t
Copper 26.5 0.29%
Q1 Costs Cost of Sales Cash Cost(1)
AISC(1)
Gold (/oz.) $462 $514 $634
Copper(/lbs.) $1.79 $1.78 $2.13
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.

19. 19
Operating Highlights By Mine
El Peñón
First Quarter Highlights:
 Production ramped-up
quickly with successful
conclusion of union
negotiations in January
 Exceeded Q1 plan as
both tonnes processed
and recovery rates
exceeded expectations
 Continuing to adjust
overhead, mining cost
structure and
exploration spend to
maximize cash flow
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.
Q1 Production Oz. Tonnes Processed Grade
Gold 33,367
228,923
4.80 g/t
Silver 960,820 152.61 g/t
Q1 Costs Cost of Sales Cash Cost(1)
AISC(1)
Gold (/oz.) $1,097 $763 $997
Silver (/oz.) $15.03 $10.58 $13.55

20. 20
Operating Highlights By Mine
Canadian Malartic
First Quarter Highlights:
 Highest Q1 throughput
rate since operations
began
 Production is on track to
achieve 2017 production
guidance
 Québec government has
authorized the Canadian
Malartic Extension
Project
 Advancing exploration
at the Odyssey deposit
Q1 Production (50%) Oz. Tonnes Processed Grade
Gold 71,382 2,432,579 1.03 g/t
Q1 Costs Cost of Sales Cash Cost(1)
AISC(1)
Gold (/oz.) $1,027 $556 $716
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.

21. 21
Operating Highlights By Mine
Gualcamayo
First Quarter Highlights:
 Strong operational
quarter that delivered
on expectations
 Production is on track
to achieve 2017
production guidance
 Recently discovered
oxide deposits around
the main pit as well as
district targets are
advancing
 Drilling at Deep
Carbonates to re-start
in 2018
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.
Q1 Production Oz. Tonnes Processed Grade
Gold 37,728 1,619,544 1.14 g/t
Q1 Costs Cost of Sales Cash Cost(1)
AISC(1)
Gold (/oz.) $1,152 $810 $841

22. 22
Operating Highlights By Mine
Minera Florida
First Quarter Highlights:
 Hauling improvements
initiated in Q1
 Continuing to advance
the whole ore leach
project, and the
potential for
expansion and
improvement of the
crushing and grinding
circuits
 Well positioned to
meet production
targets for 2017
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.
Q1 Production Oz. Tonnes Processed Grade
Gold 21,685
391,101
2.08 g/t
Silver 62,362 10.02 g/t
Q1 Costs Cost of Sales Cash Cost(1)
AISC(1)
Gold (/oz.) $1,342 $925 $1,195
Silver (/oz.) $17.71 $12.85 $16.78

23. 23
Operating Highlights By Mine
Jacobina
First Quarter Highlights:
 Production was 7%
higher compared to Q1
’16 and is on track to
achieve 2017 production
guidance
 Strong Q1 production,
together with a focus on
cost control, has the
operation well
positioned to achieved
2017 cost guidance
 Currently operating at
an average throughput
of more than 5,000 tpd
Q1 Production Oz. Tonnes Processed Grade
Gold 32,126 477,953 2.17 g/t
Q1 Costs Cost of Sales Cash Cost(1)
AISC(1)
Gold (/oz.) $1,021 $693 $871
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.

24. Cerro Moro
Project Progress Update
24
 Project is on time and on budget
 Structural steel and mechanical
erection underway
 Underground development
underway with pre-stripping of
the open pits scheduled for early
2018
 Plan is to have 6 weeks of
stockpile at time of production
start
 Ramp-up of operational staff
progressing
 Approximately $200M of total
project budget committed by the
end of Q1
2016A 2017E 2018E
Capex $55M $178M $55M
Cerro Moro Project Construction
Start of Ramp-up Q2 2018
Engineering Consultant M3 Engineering

25. Cerro Moro
Key Performance Metrics
25
Costs Cash Cost(1)
AISC(1)
2018-2019 Avg.
<$500/oz Gold
<$7.50/oz Silver
<$600/oz Gold
<$9.00/oz Silver
Production Forecast
2018 2019
Tonnes Processed
1,000 tpd
capacity
Grade – gold (g/t)
silver (g/t)
11.3
650
11.7
920
Recovery – gold
silver
95%
93%
95%
93%
Production – gold (koz)
silver (moz)
80
4.5
130
9.9
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.

26. 26
Exploration Success
Will Lead to Organic Growth
 Significant exploration focus
at all operations and major
projects
 2017 exploration budget of
$77M plus an unallocated
$21M
2017 Exploration Breakdown
Exploration will be a key driver in 2017 as 2016
Set the Stage for Mineral Reserve Growth

27. 27
Making Exploration Discoveries at Operating Mines
Select significant discoveries - Chapada
 Larger mineral district
 Multiple new targets
(Baru, Formiga and
Sucupira)
 Mineralization is being
seen along a trend that
extends for more than
15 kilometres
At Chapada we envisage a
Minelifewellinexcessof20years

28. 28
Making Exploration Discoveries at Operating Mines
Select significant discoveries – Minera Florida
 Consolidated regional
and near mine
concessions
 Las Pataguas is the most
impressive discovery
made in the past 10
years at the property
 New discovery is closer
to plant than current
mine workings
 5 structural corridors to
test
Increased confidence in our ability to
Significantlyincreaseminelife

29. 29
Making Exploration Discoveries at Operating Mines
Select significant discoveries – El Peñón
 Focusing on extending
known principal and
secondary veins
 Infill drilling testing
widths and grades of
current narrow, high
grade veins
 Additional potential
outside of the core
mine area – target
development
ObjectiveistoreplaceMineralReserves
Over rolling two-year periods

30. 30
Making Exploration Discoveries at Operating Mines
Select significant discoveries - Gualcamayo
 Significant oxide
discoveries at pit (Cerro
Condor and Potenciales)
 Significant oxide
discoveries nearby
(Las Vacas)
 Large district potential
Newoxidediscoveriesprovidehighvalueounces
Given the ability to process through existing infrastructure
Phase 4 sim
Potenciales
Condor
Potenciales
Condor
Camp. Gualcamayo
Las Vacas
QDD Main
500 m.
Cerro Condor
Pirrotina
Potenciales

31. 31
Making Exploration Discoveries at Operating Mines
Select significant discoveries – Canadian Malartic
 Potential for ounces
below the pit
 Odyssey exploration
 Canadian Malartic
suggesting district
potential
Canadian Malartic is showing every indication of
District Potential

32. Asset Pipeline
Creating Value Through Organic Development
32
• Cerro Moro
• Suruca (Chapada)
• Canadian Malartic Extension
• Optimizations at
existing mines
• Upper Beaver and Kirkland Lake Portfolio
• Agua de la Falda
• Deep Carbonates (Gualcamayo)
• Agua Rica
• Monument Bay
• Atlas-Titan JV
• Don Sixto
• Cerro Atajo
• La Pepa
• Suyai
SHORT TERM
INITIATIVES
MEDIUM TERM
OPPORTUNITIES
LONGER TERM
PROSPECTS
 Monetization opportunities may arise from time to time from medium and longer
term portfolio

33. Delivering Financial Performance
33
Q1 2017 Q1 2016 Change
Revenue $403.5 $400.9 $2.6
Mine operating earnings $59.5 $78.9 $(19.4)
Cash flows from operating activities $51.3 $116.2 $(64.9)
Cash flows from operating activities before
net changes in working capital(1)
$117.2 $115.1 $2.1
Note: In millions (M$) except for per share figures
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.

34. Significant Debt Reduction Efforts
34
800
1,000
1,200
1,400
1,600
1,800
2,000
YE 2014 YE 2015 YE 2016 *Q1 2017
$Millions
Total Debt Position
Net Debt(1) Cash
$300M
Targeted
Improvement
in Net Debt(1)
2016-2017
* Q1 2017 excludes cash and debt attributable to Brio Gold
Proceeds from recently
announced Brio Gold
share sales advance our
stated goals

35. Upcoming Scheduled Debt Repayments
35As of March 31st, 2017. Excludes revolving credit facility.
$110
$182
$84
$170
50
100
150
200
250
300
350
400
450
500
2017 2018 2019 2020 2021
($ Millions)
Senior Debt Notes Debt from Canadian Malartic
Manageable principal
repayments through
Cerro Moro
construction
InvestmentGradeRating
Recently reaffirmed

36. Sustaining and Expansionary Trend
Projected to drop post-2018
36
$0
$100
$200
$300
$400
$500
FY 2016 2017 Guidance 2019 Onwards*
($ Millions)
Sustaining Expansionary
* Absent any new projects moving into the development stage
$50-$75M
Future Expansionary Capital
run rate

37. Balance Sheet
Continues to Strengthen
37
0.80
1.30
1.80
2.30
2.80
3.30
-100
100
300
500
700
900
1100
2017 2018 2019
EBITDA Net Debt/EBITDA
INCREASING EBITDA(1)
expected as Cerro Moro comes online
1. A non-GAAP measure. A reconciliation of the IFRS measure to this non-GAAP measure can be found at www.yamana.com/Q12017.