First Majestic Silver (AG) Registration Filing summary

Company overview and business model

• Focuses on production, development, exploration, and acquisition of mineral properties, primarily silver and gold, with core operations in Mexico and a minting facility in Nevada.

• Operates four producing mines in Mexico and holds a 70% joint venture interest in the Cerro Los Gatos Silver Mine, acquired in January 2025.

• Owns the Jerritt Canyon Gold Mine in Nevada, currently under temporary suspension for exploration and optimization.

• Vertically integrated with a minting facility to sell silver bullion directly to shareholders and customers.

Financial performance and metrics

• Increased silver equivalent ounce Proven and Probable Reserves by 45% and Measured & Indicated, and Inferred Mineral Resources by 25% and 23%, respectively, as of March 31, 2025.

• Q1 2025 production: 7.7 million silver equivalent ounces; Q2 2025: 7.9 million silver equivalent ounces.

• Declared quarterly dividends in 2025, with $0.0045 per share for Q1 and $0.0048 per share for Q2.

• Financial statements prepared under IFRS; non-GAAP measures such as AISC and EBITDA are used for performance evaluation.

Use of proceeds and capital allocation

• Proceeds may be used for working capital, expansion, acquisitions, growth opportunities, and debt repayment.

• Management retains broad discretion in allocating net proceeds, with details to be specified in each Prospectus Supplement.