First Majestic Silver Corp.

The Company is in the business of the production, development, exploration and acquisition of mineral properties with a focus on silver and gold production, primarily in Mexico and the U.S.A. As such, the Company's business is dependent on foreign operations. The common shares of the Company (the " Common Shares ") trade on the Toronto Stock Exchange (" TSX ") and on the New York Stock Exchange (" NYSE ") under the symbol "AG". The Company's Common Shares are also quoted on the Frankfurt Stock Exchange under the symbol "FMV". The Company presently owns and operates four producing mines in Mexico: 1. the wholly-owned San Dimas Silver/Gold Mine in Durango State (" San Dimas Silver/Gold Mine " or " San Dimas "); 2. the wholly-owned Santa Elena Silver/Gold Mine in Sonora State (" Santa Elena Silver/Gold Mine " or " Santa Elena "); 3. a 70% joint venture interest in the Los Gatos Silver Mine in Chihuahua, Mexico, acquired in January 2025 (" Los Gatos Silver Mine " or " Los Gatos ") and held through a joint venture (the " Los Gatos Joint Venture ") with Dowa Metal & Mining Co., Ltd. (" Dowa "); and 4. the wholly-owned La Encantada Silver Mine in Coahuila State (" La Encantada Silver Mine " or " La Encantada "). The Company also owns the Jerritt Canyon Gold Mine (" Jerritt Canyon ") in Elko, Nevada, USA.