13 May 2021

Yamana Gold Inc.

Issue of Equity and Total Voting Rights

Yamana Gold Inc ("Yamana" or the "Company") announces that it has issued 1,481,991 common shares pursuant to the terms of the Company's Dividend Reinvestment Plan ("DRIP"), the terms of the Company's Restricted Share Unit Plan ("RSU" plan) and the exercise of warrants issued in connection with the Company's acquisition of Monarch Gold Corporation ("Monarch") net of the cancellation of certain shares previously reserved for former shareholders of Osisko Mining Corporation ("Osisko"). Further details of the common shares issued by the Company are provided below:

1.   86,906 common shares have been issued to shareholders pursuant to the terms of the Company's DRIP. The Company has received DRIP elections with respect to quarterly dividend payments announced on 11 February 2021, 29 October 2020 and 23 July 2020;

2.   1,352,021 common shares have been issued to employees pursuant to the terms of the Company's RSU plan. Units under the RSU plan vested during the period 1 February 2021 to 30 April 2021;

3.   43,593 common shares have been issued to warrant holders pursuant to warrants issued in connection with the Company's acquisition of Monarch and exercised between 1 January 2021 and 30 April 2021. Further details of the arrangements with the aforementioned warrants can be found in the Company's announcement published on 22 January 2021; and

4.   529 common shares have been cancelled pursuant to the terms of the Company's joint acquisition of Osisko in 2014. These shares were reserved for former Osisko shareholders and have been cancelled following the expiry of the period during which they could be exchanged. Further details of the Osisko acquisition agreement can be found in the Company's announcement published on 16 April 2014.

Application has been made to the Financial Conduct Authority (the "FCA") and London Stock Exchange plc (the "LSE") respectively for the common shares issued to be admitted to the standard listing segment of the Official List of the FCA and to trading on the Main Market for listed securities of the LSE (together, "Admission"). It is expected that Admission will become effective at 8:00 a.m. BST on 19 May 2021.

In accordance with FCA's Disclosure and Transparency Rule 5.6.1, following the issuance of the common shares, the Company's issued share capital now consists of 965,688,898 common shares. The Company does not hold any common shares in treasury and therefore the total number of voting rights in the Company is 965,688,898. This figure may be used by Shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

FOR FURTHER INFORMATION PLEASE CONTACT:

Investor Relations

+1 416-815-0220

1-888-809-0925

Email:  investor@yamana.com

FTI Consulting Inc. (UK Public Relations)

Sara Powell / Ben Brewerton

+44 203 727 1000

Email: Yamana.gold@fticonsulting.com