Creating custom panel page gives page not found error I have been striving hard to make this work.I have created a custom panel page with the page url as taxonomy/term/%term/content-type/how-to.
So i have this via pathauto url
Vocab : Category
Parent term: food
Child term : pizza

After setting up the panel page when i go to 
www.example.com/category/food/pizza/content-type/how-to it gives me 404 error(page not found).

And when i manually set up a custom panel page for each url(for e.g www.example.com/category/food/pizza/content-type/how-to)  it is working fine.

Can you guys point out whats wrong withtaxonomy/term/%term/content-type/how-to url ?
The most common and likely reason is that you have not assigned a context to your %term argument. This causes Page manager to reject the term argument, failing to find the path, and finally returning a 404. There's a similar issue here.

I could tell more specifically if you provided an export of the Panel.