August 5, 2015

2

PRIMARY SILVER PRODUCER

* As at June 30, 2015

SILVER Primary Silver Producer 56% Ag, 37% Au, 7% Pb-Zn

PRODUCER Two 100% owned mining operations in Mexico; Unhedged Ag & Au

UPSIDE

Focused on cost controls and operational efficiencies

STRENGTH Strong balance sheet; no debt $19.4M cash, $33.9M working capital*

DISCIPLINED

Production increase at San Ignacio Two advanced stage projects

3

MEXICO

Top silver producing country in the world

4

One of Mexico’s most historic mining districts with past production of more than one billion Ag oz over 400 years

Expanding production, developing potential new mines and exploring the Guanajuato District

Commercial production at San Ignacio commenced June 2014 & currently producing at 370 tonnes per day

El Horcon has potential to be another satellite operation

GUANAJUATO DISTRICT (Ag-Au)

Guanajuatito Mine Cata Mine Rayas Mine

Valenciana Mine

5

GUANAJUATO MINE (Ag-Au)

6

GUANAJUATO MINE (Ag-Au)

Historic underground mine with two operating shafts & three ramps

Currently mining & developing to the SE of the Cata Shaft and at Guanajuatito in NW

Deep drilling successful in intersecting high grade Ag-Au mineralization

Strong recoveries and increased throughput at newly-refurbished plant

7

GUANAJUATO MINE COMPLEX (Ag-Au)

Accounts for 74% of total production 1

Q2 2015

Metal Production (Ag eq oz1,2) Silver Production (Ag oz1)

818,841 482,551

Recoveries Ag/Au 90.5% / 91.0%

Average Grades 233g/t Ag 2.49g/t Au

Cash Cost/Ag oz2,3,* All-in Sustaining Cost/Ag oz2,3,*

US$ 4.88 US$ 8.93

Ore processed (tonnes) 71,131

1. Includes all mill feed from San Ignacio. 2. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio. 3. Cash cost per silver payable ounce and all-in sustaining cost per silver payable ounce (“AISC”) are non-IFRS

performance measures. Refer to the “Non-IFRS Measures” section of the Company’s MD&A for an explanation of these measures and reconciliation to the Company’s reported financial results in accordance with IFRS. As these are not standardized measures, they may not be directly comparable to similarly titled measures used by others.

* As at June 30, 2015

8

SAN IGNACIO MINE (Ag-Au)

Current resource covers only 650 metre strike length out of 4 km potential

Step-out drilling has shown excellent silver-gold mineralization

Mineralization starts at surface - easy access by ramp

Ore being trucked 22km to Cata Plant for processing

9

SAN IGNACIO MINE (Ag-Au)

Q2 2015

Metal Production (Ag eq oz1) 250,127

Ore processed (tonnes) 25,397

1. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio.

Recent drilling along strike intersected higher grades over greater widths than were previously being mined. This area is the primary focus for mining in 2015.

Accounted for 31% of the overall metal production from the GMC in Q2 2015.

Currently producing at 370 tpd, expanding to approx. 450 tpd by year end.

10

SAN IGNACIO MINE (Ag-Au)

1. Mineral Resource Estimate for San Ignacio used a December 15, 2014 effective date, with metal price outlook of US$17.00/oz silver and US$1,200/oz gold. Silver to gold ratio is 70.6:1.

Updated Resource1 Indicated - 180,300 tonnes @ 159g/t Ag (924,100 Ag oz) & 3.49g/t Au (20,220 Au oz), for 2,351,000 Ag eq oz (31% increase) Inferred – 787,800 tonnes @160g/t Ag (4,060,000 Ag oz) & 3.26g/t Au (82,680 Au oz), for 9,897,000 Ag eq oz (162% increase)

New resource area Previous resource

block

11

TOPIA MINE (Ag-Pb-Zn-Au)

Property covers over 6,500 hectares

9 separate mines; trucking ore to central plant for processing

High grade, narrow vein underground mining

Expanding production at profitable mines, temporarily closing others

Extending strike length of known veins

Potential to expand claim ownership within district

12

TOPIA MINE (Ag-Pb-Zn-Au)

Q2 2015

Metal Production (Ag eq oz¹) Ag Production (Ag oz)

269,514 166,258

Recoveries Ag/Au Pb/Zn

90.5% / 59.2% 94.3% / 94.6%

Average Grades

350g/t Ag, 0.48g/t Au 1.95% Pb, 3.17% Zn

Cash Cost/Ag oz2,* All-in Sustaining Cost/Ag oz2,*

US$ 12.14 US$ 13.77

Ore processed (tonnes) 16,345

1. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio, and ratios of 1:0.050 and 1:0.056 for the price/ounce of silver to lead and zinc price/pound.

2. Cash cost per silver payable ounce and all-in sustaining cost per silver payable ounce (“AISC”) are non-IFRS performance measures. Refer to the “Non-IFRS Measures” section of the Company’s MD&A for an explanation of these measures and reconciliation to the Company’s reported financial results in accordance with IFRS. As these are not standardized measures, they may not be directly comparable to similarly titled measures used by others. * As at June 30, 2015

Accounts for 26% of total production

The option of Coricancha marks the start of a commitment to Peru and launches a new chapter in GPR’s growth

Two years to exercise the option for a 100% interest, then would control the time frame as to when to commence production

Coricancha provides a near-term production opportunity which we can use as a foundation for future growth in Peru

Production history indicates potential for approx. 2.5 million Ag eq oz per year at full capacity

CORICANCHA MINE (Au-Ag-Pb-Zn-Cu), PERU STRATEGIC OPPORTUNITY

Significant historical resource with exploration potential

13

14

CORICANCHA Au-Ag-Pb-Zn-Cu MINE

• Underground mine owned by Nyrstar; Placed on Care & Maintenance in August 2013

• 90km east of Lima in prolific mining district

• Operating history dating back to 1906

• Fully permitted, with a 600 tpd operational processing plant

• Drilling in 2015/16 to update Mineral Resource Estimate

• 80% precious metals, 20% base metals

• Two year option to de-risk project

15

CORICANCHA HISTORICAL RESERVES & RESOURCES

Historical Reserve & Resource Estimate* Proven & Probable Reserves: • 640,000 tonnes @ 4.35g/t Au, 149g/t Ag,

1.77% Pb, 2.60% Zn, 0.32% Cu (13,500,000 Ag eq oz)

Measured & Indicated Resources: • 890,000 tonnes @ 5.04g/t Au, 175g/t Ag,

1.97% Pb, 3.11% Zn, 0.42% Cu (21,960,000 Ag eq oz)

Inferred Resources: • 4,880,000 tonnes @ 4.91g/t Au, 225g/t Ag,

1.57% Pb, 2.98% Zn, 0.48% Cu (124,600,000 Ag eq oz)

* Effective date December 31, 2012; Based upon $22.00/oz silver, $1,300/oz gold, $6,300/tonne copper, $2,250/tonne lead and zinc M&I Resources are inclusive of Reserves

CORICANCHA OPTION AGREEMENT

16

TWO-YEAR OPTION FOR 100% INTEREST Consideration (USD)

Cash: On signing 1st Anniversary

$1.5 M $1.5 M

Work commitments: Year 1 Year 2

$2 M $3 M

Cash on closing of SPA (after exercise of option) $5 M

Total 1 $8 M Cash $5 M Work

Nyrstar retains ownership, costs of Care & Maintenance, and all liabilities, for 2-year option period

Great Panther will conduct surface & underground drilling & sampling, mine development and plant tests

1. Additional $4 million contingent payment upon Nyrstar meeting certain conditions

17

GUADALUPE DE LOS REYES (GDLR) PROJECT (Au-Ag)

• 200km north of Mazatlan in prolific Sierra Madre Occidental mining belt

• Past producing district dating back to 18th century o Historical production of

more than 600,000 oz Au & 40 Million oz Ag, averaging 12g/t Au and 900g/t Ag

• Historical PEA (2013) and compliant resource

• Significant UG/OP production potential

• Good community relations

18

GDLR MINERAL RESOURCE ESTIMATE

NI 43-101 Mineral Resource Estimate completed on four veins: Indicated: • 6.8 Mt @ 1.73g/t gold

and 28.71g/t silver • 380,100 oz gold,

6,315,300 oz silver (31,021,800 Ag eq oz)

Inferred: • 3.2 Mt @ 1.49g/t gold

and 34.87g/t silver • 155,200 oz gold

3,639,000 oz silver (13,727,000 Ag eq oz)

GDLR OPTION AGREEMENT & WORK PROGRAM

19

Complete pre-feasibility or feasibility study for combined open pit / underground mine scenario by end of 2016

Additional drilling to update and increase grade of Mineral Resource; New Mineral Resource Estimate by end of 2015

Option from Vista Gold to acquire 100%, subject to underlying royalties

“First Option” for 70% interest: Payments of US$1.5M in Jan 2016 and US$2.5M in Jan 2017

Can acquire remaining 30% by making production decision & paying US$3M plus escalator tied to gold price and increase in M&I resources

20

EL HORCON Ag-Au PROJECT

>7,900 hectares within Guanajuato Trend; trucking distance to GPR’s processing plant in Guanajuato

Mineralization near surface; 7km strike extent

Past producing (16th-18th century) underground mine; multiple veins in old workings

Surface drill program completed in 2013 (2,156 metres in 24 holes)

Inferred Resource Estimate1 of 2.08 million Ag eq oz (149,200 tonnes @ 3.51g/t Au, 78g/t Ag, 2.82% Pb)

Permitting process underway for Phase II exploration and exploitation

>7,900 hectares within Guanajuato Trend; trucking distance to GPR’s processing plant in Guanajuato

Mineralization near surface; 7km strike extent

Past producing (16th-18th century) underground mine; multiple veins in old workings

Surface drill program completed in 2013 (2,156 metres in 24 holes)

Inferred Resource Estimate1 of 2.08 million Ag eq oz (149,200 tonnes @ 3.51g/t Au, 78g/t Ag, 2.82% Pb)

1. Mineral Resource Estimate for El Horcon used a July 31, 2014 effective date, with metal price outlook of US$17.00/oz silver, US$1,200/oz gold, and US$0.95 lead. Silver to gold ratio is 70.6:1.

21

OPERATIONAL SUMMARY

Consolidated Operations Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014

Tonnes Milled 87,476 99,252 92,252 89,030 80,964

Silver ounces 648,810 597,111 557,111 565,966 420,001

Gold ounces 5,322 4,703 4,703 4,200 3,773

Lead tonnes 300 279 279 259 302

Zinc tonnes 491 441 441 443 395

Silver equivalent ounces1,2 1,088,355 987,887 911,048 890,641 718,794

1. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio, and ratios of 1:0.050 and 1:0.056 for the price/ounce of silver to lead and zinc price/pound.

2. Silver equivalent ounces for 2014 were calculated at consistent prices of US$18.50 per oz, US$1,110 per oz (60:1 ratio), US$0.90 per lb and US$0.85 per lb for silver, gold, lead & zinc, respectively, and applied to the recovered metal content of the concentrates produced.

ANNUAL PRODUCTION GROWTH

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3.8 – 3.9 Guidance

2.2 2.4

2.8 3.2

3.8 - 3.9 Guidance

-

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

2011 2012 2013 2014 2015

Met

al P

rodu

ctio

n (A

g eq

oz,

in m

illio

ns)

COMPOUND ANNUAL GROWTH RATE OF 15%

23

FINANCIAL SUMMARY

1. Gross profit (loss) before non-cash items, adjusted EBITDA, cash cost per silver payable ounce, all-in sustaining cost per silver payable ounce and

all-in cost per silver payable ounce are non-IFRS performance measures. Refer to the Non-IFRS Measures section of the Company’s MD&A for a complete definition.

2. Average realized silver price is prior to smelting and refining charges.

in 000s except amounts per share and per ounce Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014

Revenue $ 19,183 $ 20,250 $ 14,244 $ 12,801 $ 14,465

Gross profit (loss) before non-cash items1 $ 6,713 $ 6,652 $ 2,159 $ 2,918 $ 2,427

Net income (loss) $ (4,722) $ 3,588 $ (26,948) $ (970) $ (4,492)

Adjusted EBITDA1 $ 4,205 $ 3,688 $ (1,211) $ 1,267 $ 213

Earnings (loss) per share – basic $ (0.03) $ 0.03 $ (0.19) $ (0.01) $ (0.03)

Earnings (loss) per share – diluted $ (0.03) $ 0.03 $ (0.19) $ (0.01) $ (0.03)

Total cash cost per Ag oz (USD)1 $ 6.63 $ 8.71 $ 12.23 $ 11.02 $ 15.03

All-in sustaining cost per Ag oz (USD)1 $ 12.54 $ 14.47 $ 21.46 $ 19.95 $ 24.40

Average realized silver price (USD)2 $ 15.47 $ 16.99 $ 15.78 $ 18.85 $ 19.81

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CAPITAL STRUCTURE

Shares issued 141,712,605

Fully diluted 153,302,125

Institutional ownership ~8%

Market capitalization CA $64.5 M

90-day daily average trading volume ~700,000 shares

52-week trading range TSX NYSE MKT

CA $0.40 - $1.48 US $0.30 - $1.37

Cash position* CA $19.4 M (no debt)

Net working capital* CA $33.9 M

Updated on August 5, 2015 * As at June 30, 2015

Analyst Coverage: Euro Pacific Capital Inc., Rodman & Renshaw, Salman Partners Inc., Hallgarten & Company, Eurobank EFG

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LEVERAGED TO SILVER

Great Panther Silver

-200%

0%

200%

400%

600%

800%

1000%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

GPR %

AG %

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2015 OBJECTIVES

OBJECTIVES PROGRESS

Produce 3.5 to 3.6 million Ag eq oz; Q2 2015 achieved record metal production of 1,088,355 Ag eq oz

Further reduce operating costs & overheads; improve grade control & operating efficiencies.

Q2 2015 cash cost decreased to US$6.63/Ag oz; AISC to US$12.54/Ag oz

Continue production ramp up and development on higher Ag/Au grades in the San Ignacio south extension Record production in Q2

Complete permitting of El Horcon Permitting for Phase II exploration and exploitation underway

Pursue and analyze acquisition targets Optioned Coricancha Mine in Peru; Acquired Cangold & option on GDLR Au-Ag Project

27

2015 OUTLOOK

Production and cash cost guidance 2015 Guidance FY 2014 Actual

Total silver equivalent ounces 1 3,800,000 – 3,900,000 3,187,832

Cash Cost per silver payable ounce (USD) 2 $ 9.00 – $ 10.00 $ 12.78

AISC (USD)2, $ 15 – $17.00 $ 22.07

1. Silver equivalent ounces for 2015 guidance have been calculated using a 65:1 Au:Ag ratio, and ratios of 1:0.05 and 1:0.056 for the US dollar price of silver ounces to the US dollar price for lead and zinc pounds, respectively. These ratios will be applied consistently for the reporting of silver equivalent ounce production for 2015. 2. “Cash cost” and “AISC” are non-IFRS measures. Refer to the “Non-IFRS measures” section of the Company’s MD&A for complete definitions and reconciliations to the company’s financial statements.

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VALUE ADVANTAGE

Great Panther is a primary silver producer

100% unhedged with strong leverage to silver price

Good liquidity on NYSE MKT and TSX

Strong working capital & no debt

Potential for production growth through satellite projects

Significant growth potential in two new advanced stage projects

This presentation contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include but are not limited to the Company's plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Annual Information Form for the year ended December 31, 2014 and Material Change Reports filed with the Canadian Securities Administrators available at www.sedar.com, and reports on Form 40-F and Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Robert Brown, P. Eng. is the Qualified Person under NI 43-101 for the projects discussed in this presentation.

DISCLAIMER

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CAUTIONARY NOTE TO U.S. INVESTORS

30

The terms "Measured resource", "Indicated resource" and "Inferred resource" used in this document are Canadian mining terms as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and CIM Standards on Mineral Resources and Mineral Reserves. Mineral resources that are not mineral reserves have not been demonstrated to be economically and legally extractable. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. It should not be assumed that all or any part of a resource will ever be converted to a reserve. The mineral resource estimates presented herein include Inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these Inferred resources will be converted to Measured and Indicated resource categories through further drilling, or into mineral reserves once economic considerations are applied. We advise U.S. Investors that while the terms "Measured resource", "Indicated resource" and "Inferred resource" are recognized and required to be reported by Canadian regulations, the U.S. Securities and Exchange Commission ("SEC") does not recognize these terms and does not normally permit such terms to be used in reports and registration statements filed with the SEC. As such, information contained in this document concerning descriptions of mineralization and resources under Canadian standards may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC. Inferred resources have a great amount of uncertainty as to their existence and a great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of a Measured, Indicated or Inferred resource will ever be upgraded to a higher category. U.S. investors are cautioned not to assume that any part or all of an Inferred mineral resource exists, or is economically or legally mineable. U.S. investors are also cautioned not to assume that any part or all of the mineral deposits in the Measured resource or Indicated resource categories will ever be converted into reserves.

31

APPENDIX

32

DIRECTORS & SENIOR MANAGEMENT TEAM

Board of Directors

R.W. (Bob) Garnett, CPA, CA, ICD.D, Chairman; Robert Archer, P. Geo.; Ken Major, P. Eng.; John Jennings, MBA, CFA; W. James Mullin B.Sc.; Jeffrey R. Mason, CA, ICD.D

Robert Archer, P. Geo. President & CEO

Co-founder

Jim Zadra, CA, MBA Chief Financial Officer

Ali Soltani Chief Operating Officer

Robert Brown, P. Eng. VP Exploration

33

SOCIAL PRINCIPLES

We are committed to fair and equitable employment conditions for our employees

We are committed to ensuring our employees and contractors return home safely every day

We are committed to enhancing and benefiting the communities in which we live and operate

We are committed to minimizing and restoring any impact on our environment

We are committed to strong ethics and we abide by all rules and regulations that apply to our business Awarded distinction as a “Socially Responsible

Company” by CEMEFI, Centro Mexicano para la Filantropía, for a fifth consecutive year in 2015

Change Fortuna -47.09% Silver -32.10% Great Panther -71.38% Excellon -72.18% Endeavour -75.08% Americas Silver -52.24% Impact -76.52% Aurcana -73.19%

12 MONTHS PEER COMPARISON

34

-100%

-80%

-60%

-40%

-20%

0%

20%

40%

60%

35

DRILLING SUMMARY

2015 Focus On Quality vs Quantity Ounces

Striking Balance Between Cash Flow & Exploration Funding

2011 2012 2013 2014 E 2015

Guanajuato 26,546 m 29,254 m 26,237 m 13,270 m 14,000 m

Topia 4,526 m 8,059 m 2,162 m 1,903 m -

San Ignacio 17,313 m 9,310 m 1,144 m 3,827 m 5,000 m

Guadalupe de los Reyes - - - - 5,200 m

Coricancha - - - - 5,500 m

Santa Rosa - 1,653 m - - -

El Horcon - - 2,156 m - -

Total 48,385 m 48,276 m 31,699 m 19,000 m 29,700 m

36

RESOURCES

NOTE: Compliant NI 43-101 Resource estimates were calculated using CIM standards. Guanajuato, July 2014 - US$17.00/oz Ag; US$1200/oz Au. | Topia, November 2014 - US$1,200/oz Au, US$17.00/oz Ag, US$0.90/lb Pb, and US$0.95/lb Zn. Silver equivalent calculations used the same metal pricing. | San Ignacio, December 2014 - US$17.00/oz Ag; US$1200/oz Au. | El Horcon, July 2014 - US$17.00/oz Ag; US$1,200/oz Au; US$0.95/lb Pb. Ag Eq Oz total includes ounces derived from Pb. Robert Brown, P. Eng. is the Qualified Person under NI 43-101 for Guanajuato, Topia, San Ignacio and El Horcon.

Measured Tonnes Ag (g/t) Au (g/t) Pb (%) Zn (%) Ag (oz) Au (oz) Ag Eq Oz

Guanajuato 184,500 309 3.24 - - 1,832,500 19,780 3,190,300

Topia 180,400 606 1.44 4.26 4.52 3,515,000 8,320 6,000,200

Total Measured 5,347,500 28,130 9,190,500

Indicated Tonnes Ag (g/t) Au (g/t) Pb (%) Zn (%) Ag (oz) Au (oz) Ag Eq Oz

Guanajuato 36,000 335 2.20 - - 387,900 2,540 567,500 Topia 165,800 644 1.17 4.75 3.82 3,433,000 6,240 5,570,000 San Ignacio 180,300 159 3.49 - - 924,100 20,220 2,351,000

Total Indicated 4,745,000 29,000 8,488,500 Total Measured + Indicated 8,514,500 53,440 17,679,000

Inferred Tonnes Ag (g/t) Au (g/t) Pb (%) Zn (%) Ag (oz) Au (oz) Ag Eq Oz

Guanajuato 163,600 101 3.37 - - 532,600 17,710 1,782,200 Topia 357,400 592 1.31 3.44 3.96 6,807,500 15,060 11,050,000 San Ignacio 787,800 160 3.26 - - 4,060,000 82,680 9,897,000 El Horcon 149,200 78 3.51 2.82 - 375,300 16,830 2,081,200

Total Inferred 11,777,400 132,270 24,810,400

37

Gr8_Panther

GreatPantherSilver

Gr8_Panther

Great Panther Silver

Great Panther Silver Limited

SOCIAL SCENE Spiros Cacos, MA Director, Investor Relations D: +1 604 638 8955 TF: 1 888 355 1766 scacos@greatpanther.com

www.greatpanther.com │ info@greatpanther.com

August 5, 2015