MAG Silver (MAG) Corporate Presentation summary

Strategic positioning and corporate overview

• Focus on high-grade, district-scale precious metals projects in the Americas, with flagship assets in Mexico, Utah, and Ontario.

• Maintains a strong balance sheet with $156M cash, no debt, and a $40M undrawn credit facility as of March 31, 2025.

• Achieved 4,000 tpd run rate at Juanicipio since Q4 2023, with only 10% of the property explored.

• Delivers consistent shareholder returns, including $0.38 per share in 2025 dividends (~5% yield).

• Market capitalization stands at $1.7B with 103.5M shares outstanding.

Operational performance and financial highlights

• Juanicipio Mine produced 18.6M oz silver in 2024, exceeding guidance, with a record silver recovery of 96% in Q1 2025.

• Achieved industry-leading low costs: 2024 AISC at $5.54/oz and Q1 2025 AISC at $2.04/oz silver sold.

• Generated ~$292M in free cash flow and returned $119M to the company in 2024; $61.5M returned in Q1 2025.

• 2025 guidance targets 14.7–16.7M oz silver production, with sustaining capex of $70–80M and AISC of $6–8/oz.

• Robust life-of-mine plan projects $132M average annual free cash flow at $22/oz Ag, with significant leverage to commodity prices.

Resource base and growth opportunities

• Valdecañas Vein System underpins value with 17.0Mt measured & indicated at 310g/t Ag and 14.1Mt inferred at 236g/t Ag.

• Significant inferred resources in Anticipada and Ramal 1 veins not yet in the mine plan, offering future upside.

• Only 10% of Juanicipio explored; multiple upwelling zones and high-priority targets identified for further drilling.

• 33% growth in measured & indicated resources and 16% growth in inferred resources reported in 2024.

• Ongoing optimization and exploration expected to extend mine life and enhance production profile.