MAG Silver (MAG) AGM 2024 summary

Opening remarks and agenda

• Meeting held virtually on June 17, 2024, enabling real-time participation, questions, and voting.

• Agenda included receiving 2023 audited financials, electing eight directors, appointing Deloitte LLP as auditor, and an advisory vote on executive compensation.

• Shareholders encouraged to submit questions relevant to business items via the virtual platform.

• Voting conducted by online poll, with instructions for proxy and ballot voting provided.

• Shareholders could access meeting materials online or request paper copies.

Board and executive committee updates

• Eight directors nominated and elected for the ensuing year, with 88% independence and 38% female representation.

• Board refreshment reduced average tenure to just over five years; five new directors appointed since 2020.

• Dan MacInnis, former CEO and director, recognized for 19 years of service and retiring in 2024.

Overview of voting outcomes

• All matters, including director elections and auditor reappointment, were approved; 2023 auditor re-appointment received 97.27% support, and say-on-pay 98.40%.

• Final voting results to be included in the minutes and announced via press release.

• Majority voting policy in place; directors must tender resignation if not supported by majority.