First Majestic Silver Corp. · TSX:AG

First Majestic Silver — Q2 2026 Earnings Presentation

9 slides from First Majestic Silver's earnings presentation, Jul 30, 2026

  1. Slide 1: There's no substitute for silver

    There’s no substitute for silver Q2-26 PRESENTATION TSX AG / NYSE AG / FSE FMV July 30, 2026

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements CAUTIONARY DISCLAIMER Certain statements contained herein regarding First Majestic Silver Corp. (the “Company”) and its operations, constitute “forward-looking under the Company’s SEDAR+ profile on www.sedarplus.ca, and as an exhibit to its most recently filed Form 40-F on

  3. Slide 3: Q2-26 Highlights

    Q2-26 Highlights  Revenues: Q2 $416M (up 57%); Record H1 $892M (up 76%) Silver production: Q2 3.8M oz (YTD 7.3M oz) Available Liquidity $1,036 Million Gold production: Q2 35K oz (YTD 69K oz) (Excl. $159M Restricted Cash) Avg. realized silver price/oz: Q2 $63.98 (YTD $74.83)  EBITDA: Q2 $252M, u

  4. Slide 4: Year-Over-Year Cost Performance

    Year-Over-Year Cost Performance AISC Q2 2026 vs Q2 2025 (based on Q2 2026 price ratio and FX rate)* Consolidated Cost per Tonne Performance 30 $140 AISC Margin: $127.2 $40.27 28 $120 $111.0 $107.2 Cost per Tonne (US $M) $0.24 $0.19 $102.0 Cost per AgEq Ounce (US $M) $2.46 -$0.19 $100 26 AISC Margin:

  5. Slide 5: Quarterly Operating Cash & Free Cash Flow Performance

    Quarterly Operating Cash & Free Cash Flow Performance Operating Cash Flow - Before Working Capital and Taxes Free Cash Flow – Operating Cash Flows less Sustaining Capex $350 $300 311 301 $300 250 $250 224 248 Operating Cash Flow (US $M) Free Cash Flow (US $M) $250 195 $200 $200 $150 $150 141 110 115

  6. Slide 6: Q2-26 Mexico Operations Update

    Q2-26 Mexico Operations Update Los Gatos Silver Mine  Rockfall on main ramp and unplanned maintenance affected Q2 production, offset by higher grades and strong recoveries  On track to increase throughput to 4,000 tpod in H2 2026 (June 2026 record: 4,078 tpod)  Mobilizing long-hole contractor to

  7. Slide 7: Q2-26 Jerritt Canyon Gold Mine Update

    Q2-26 Jerritt Canyon Gold Mine Update Advancing technical & operational workstreams required for the restart plan, including PFS-level study Targeting production in H2 2027  Purchase orders placed for an initial fleet  Underground development and rehabilitation ongoing  Hiring of key roles at sit

  8. Slide 8: Future Catalysts

    Future Catalysts • Investing in our world-class district-scale operations - increasing mining rates at Los Gatos and plant throughput at Santa Elena • Approximately 308,000 m of exploration planned in 2026 • Early advancement of Santo Niño and Navidad at Santa Elena for potential near-term mining •

  9. Slide 9: Questions & Answers

    Questions & Answers 1800 – 925 WEST GEORGIA ST, VANCOUVER, CONTACT: BRITISH COLUMBIA, CANADA V6C3L2 T.604.688.3033 / F.604.639.8873 INVESTOR RELATIONS / SUPPORT: BULLION SALES: INVESTOR@FIRSTMAJESTIC.COM CUSTOMERSUPPORT@FIRSTMINT.COM Q2-26 PRESENTATION T S X A GT S X/ ANGY S /E ANGY S E/ A G F S E /

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