First Majestic Silver Corp

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.

First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.

Management Profile

Keith Neumeyer, President & CEO

Mr. Neumeyer has worked in the investment community since 1984. He began his career at a number of Canadian national brokerage firms. Mr. Neumeyer moved on to work with several publicly traded companies in the resource and technology sectors. His roles have included senior management positions and directorships responsible in areas of finance, business development, strategic planning and corporate restructuring. Mr. Neumeyer was the original and founding President of First Quantum Minerals Ltd. (T-FM). Mr. Neumeyer founded First Majestic Silver in 2002 and First Mining Gold in 2015. Mr. Neumeyer has also listed a number of companies on the Toronto Stock Exchange and as such has extensive experience dealing with the financial, regulatory, legal and accounting issues that are relevant in the investment community. Mr. Neumeyer is also a recipient of the E&Y Entrepreneur of the Year Award for the Metals & Mining category.

What is your rationale for taking part in 121 Mining Investment?

To update our shareholders and prospective investors on the progress of the Company.

What recent news would you like to highlight to investors attending?

• 8 October - First Majestic Produces 7.7 million AgEq Oz in Q3 2025
• 3 September - First Majestic Reports Positive Exploration Results at Los Gatos
• 18 August - First Majestic Announces Positive Exploration Results at San Dimas
• 14 August - First Majestic Announces Record Financial Results for Q2 2025 and Quarterly Dividend Payment

What are your key goals for the next 3, 6 and 12 months?

3 Months

Increase and optimize production across our four Mexico operations - Los Gatos, San Dimas, Santa Elena, and La Encantada - while continuing exploration across our Mexico and US operations, with a focus on the Santo Nino and Navidad discoveries at our Santa Elena property, our exploration program at Jerritt Canyon in Nevada, and the new high-grade intercept of Coronado vein at San Dimas.

6 Months

Continuing to optimize production and mining across all our operations including increasing throughput rates at our Los Gatos and Santa Elena mines. Additionally, the Company will be focused on providing production and cost guidance for 2026, updates on continuing exploration programs across the portfolio and specifically at Santa Elena and Jerritt Canyon, as well as updating our Reserves & Resources Estimates at the end of Q1 2026.

12 Months

The key goals of First Majestic are to grow production profitably through the exploration, development and optimization of our existing mineral properties and acquiring new assets through smart accretive transactions, while lowering costs and investing in R&D to remain an industry leader in innovation and processing technologies. The Company's goal is to become the world's largest primary silver producer.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Fluctuating commodity prices, cost inflation, investor sentiment in the materials sector, strong Mexican Peso. Will maintain our disciplined focus on cost while investing in the growth of our operations

What do you think makes your company such a compelling investment?

Silver prices have rallied again in 2025 along with the Gold price but there is more room to go. Forecasted annual silver consumption worldwide is ~1.2 billion oz in 2025, driven by growth in industrial demand, compared to annual mine production of ~825 million oz. This will be the fifth straight year of deficit according to the Silver Institute. As the world continues running towards a high-tech economy requiring heavy energy consumption, we will need more technologies like AI and additional efficient energy production and storage like EV batteries and photovoltaic solar panels, that utilize silver.

First Majestic boasts industry-leading trading liquidity and leverage to silver with production guidance of approximately 32 million silver equivalent ounces in 2025, with about 55% of revenues from silver and 33% from gold. Furthermore, First Majestic has 255,000m of exploration planned in 2025 across our five projects, including Jerritt Canyon, which has led to some promising discoveries such as the new high-grade gold and silver discovery, Santo Nino, at our Santa Elena property. 2025 has so far been a transformational year for First Majestic on the back of optimizations at San Dimas and the acquisition and integration of Los Gatos in January. Looking forward, revenue and earnings growth is anticipated over the next few years, and combined with our strong balance sheet, position the company and its shareholders well to capitalize on the rising price of silver.

What are the top 3 key investor takeaways?

1. Leading leverage to silver prices, and purity (% of revenue from silver)

2. Production trending up, costs down, active exploration program

3. First Mint - Commissioned in 2024, this 100%-owned modern minting facility in Nevada, USA is the first of its kind for any mining company. The mint allows First Majestic to sell a greater portion of its silver production directly to shareholders and bullion customers, vertically integrating the process and capturing a higher margin on silver sales.