Mr. Keith Neumeyer reports

FIRST MAJESTIC ANNOUNCES 2025 SUSTAINABILITY REPORT AND MAILING OF 2026 AGM MEETING MATERIALS

First Majestic Silver Corp. has released its 2025 sustainability report and has mailed its meeting materials for the company's 2026 annual general meeting of shareholders.

2025 sustainability report

The company's 2025 sustainability report has been drafted primarily in alignment with the Sustainability Accounting Standards Board reporting standards, and summarizes the company's sustainability-related performance for the 2025 calendar year.

• Carbon reduction: reporting its lowest carbon intensity on record, achieving a 21-per-cent annual reduction in carbon footprint per tonne of ore processed and an overall reduction in carbon intensity of 49 per cent since the first report in 2019;
• Community involvement: partnered with its local communities on impactful projects, investing $2.4-million (U.S.) in its communities in 2025; in addition, it completed a third party community social impact assessment at all operating sites to pro-actively monitor community needs and expectations;
• Supportive workplaces: continued the company's workplace programs to support retention and employee well-being; as a result of these continuing actions, 70 per cent of its employees have a tenure of over six years, and, in 2025, 91 per cent of working mothers returned to their roles after maternity leave;
• Stable safety performance: maintained the company's world-class safety performance, achieving 0.55 total recordable incident frequency rate and 0.12 lost-time incident frequency rate;
• Third party recognition: the company continued its trend of improvement within sustainability ratings and rankings by the end of 2025, placing in the top 10 per cent of the mining industry as ranked by ISS ESG, top 25 per cent by S&P Global, top 34 per cent by Sustainalytics and top 15 per cent by the London Stock Exchange Group.

The 2025 sustainability report provides shareholders and stakeholders of First Majestic an annual progress report against its public sustainability commitments. The company is pleased to share that, in 2025, First Majestic met all its sustainability targets and commitments, integrated Los Gatos into its portfolio, and is reporting its lowest carbon intensity on record.

"Our 2025 sustainability report's theme of growing in harmony reflects what matters most at First Majestic: operating with integrity, protecting our people and the environment, and creating long-term value," said Keith Neumeyer, chief executive officer. "In a year marked by record production, financial performance and the successful integration of Los Gatos, we demonstrated that strong performance and responsible mining go hand in hand, guided by the values that have long defined our company."

"The acquisition of Los Gatos in 2025 was a defining moment for First Majestic, and growing in harmony captures how closely aligned our teams, values and sustainability strategies truly are," said Mani Alkhafaji, president and chief corporate development officer. "This integration strengthened our portfolio while reinforcing our commitment to safe, environmentally responsible mining and meaningful partnerships with our communities."

For further performance data and information about how First Majestic manages sustainability-related areas of its business, the 2025 sustainability report and accompanying documents are available on the sustainability report hub of the company's website.

2026 annual general meeting information

The company's 2026 AGM will be held on Wednesday, June 10, 2026, at 10 a.m. Pacific Time, at the offices of Bennett Jones LLP, located at Suite 2500, 666 Burrard St., Vancouver, B.C., V6C 2X8.

As in prior years, the company has adopted the notice and access model under National Instrument 54-101 (Communication with Beneficial Owners of Securities of a Reporting Issuer) for the delivery to shareholders of record as of April 15, 2026, of the notice of meeting, management information circular, form of proxy or voting instruction form (as applicable), and its audited financial statements and management's discussion and analysis for the year ended Dec. 31, 2025, in connection with the 2026 AGM.

Under notice and access, instead of receiving printed copies of the meeting materials, shareholders receive a notice and access notification containing details relating to the 2026 AGM such as the date, location and purpose, as well as information on how they can access the meeting materials electronically. Using the notice and access method allows the company to deliver the meeting materials to shareholders in a more environmentally friendly and sustainable way that helps reduce paper usage and carbon footprint, and it reduces the printing and mailing costs. However, shareholders with existing instructions on their account to receive printed materials will receive a printed copy of the meeting materials, and any other shareholders who wish to receive a printed copy of the meeting materials may follow the instructions set out in the notice and access notification that they will receive.

The company has retained the Laurel Hill Advisory Group to assist anyone who is a First Majestic shareholder as of the record date with voting their shares. Once you have received the meeting materials in the mail, if you need assistance with voting your First Majestic shares, please reach out to Laurel Hill by telephone at 1-877-452-7184 (toll-free in North America) or 1-416-304-0211 (text and call enabled outside of North America, please text INFO to either number), or by e-mail at assistance@laurelhill.com.

The meeting materials for the 2026 AGM are available under the company's profile on SEDAR+ and on the company's website. Please review the meeting materials for instructions relating to voting your First Majestic shares.

The company looks forward to the support of its shareholders at the 2026 AGM, and notes that management recommends that shareholders vote for all resolutions that are set out in the meeting materials.

About 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 currently owns and operates four producing underground mines in Mexico: the Santa Elena silver/gold mine, Los Gatos silver mine (the company holds a 70-per-cent interest in Los Gatos joint venture that owns and operates the mine), the San Dimas silver/gold mine and La Encantada silver mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon gold mine, which is an advanced-stage development asset that was placed on temporary suspension in March, 2023.

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 on-line at some of the lowest premiums available.

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