First Majestic Completes US$350 Million Offering Of Convertible Senior Notes

(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) ("First Majestic" or the "Company") announced today the closing of its previously announced offering (the "Offering") of US$300 million aggregate principal amount of 0.125% unsecured convertible senior notes due in 2031 (the "Notes"). The Company also announced the concurrent closing of an additional US$50 million aggregate principal amount of Notes pursuant to the exercise in full of the over-allotment option granted to the initial purchasers of the Notes. The initial conversion rate for the Notes is 44.7227 common shares of the Company (the "Shares") per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$22.36 per Share.

The Company will use a portion of the proceeds of the Offering to complete the repurchase, in separate privately negotiated transactions, of approximately US$174.7 million aggregate principal amount of its outstanding 0.375% convertible senior notes (the "Existing Notes") due in 2027 for payment of approximately US$214.7 million in aggregate. The Company intends to use the remainder of the net proceeds from the Offering for general corporate purposes, including strategic opportunities.

The Notes and the Shares into which the Notes are convertible, have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act and may not be offered or sold in Canada except pursuant to exemptions from the prospectus requirements of applicable Canadian provincial and territorial securities laws.

This news release is neither an offer to sell nor the solicitation of an offer to buy the Notes or the Shares into which the Notes are convertible, and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or the Shares into which the Notes are convertible in any jurisdiction in which such offer, solicitation or sale is unlawful.

ABOUT FIRST MAJESTIC

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.

MENAFN08122025004218003983ID1110454299