<SEC-DOCUMENT>0001628280-25-049247.txt : 20251105
<SEC-HEADER>0001628280-25-049247.hdr.sgml : 20251105
<ACCEPTANCE-DATETIME>20251105071508
ACCESSION NUMBER:		0001628280-25-049247
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20251105
FILED AS OF DATE:		20251105
DATE AS OF CHANGE:		20251105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MAJESTIC SILVER CORP
		CENTRAL INDEX KEY:			0001308648
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34984
		FILM NUMBER:		251451762

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		925 WEST GEORGIA STREET
		STREET 2:		SUITE 1800
		CITY:			VANCOUVER
		PROVINCE COUNTRY:   	A1
		BUSINESS PHONE:		604-688-3033

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		925 WEST GEORGIA STREET
		STREET 2:		SUITE 1800
		CITY:			VANCOUVER
		PROVINCE COUNTRY:   	A1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST MAJESTIC RESOURCE CORP
		DATE OF NAME CHANGE:	20041115
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ag-2025q3x6k.htm
<DESCRIPTION>6-K
<TEXT>
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<title>Document</title></head><body><div id="id8eaf0f1c09f44e0b72b4465dac14cb5_1"></div><div style="min-height:63pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Washington, D.C. 20549</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%">FORM 6-K</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the month of November 2025 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commission File Number&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">001-34984</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:120%;text-decoration:underline">FIRST MAJESTIC SILVER CORP.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Translation of registrant's name into English)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Suite 1800 - 925 West Georgia Street</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Vancouver, British Columbia V6C 3L2</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Address of principal executive offices)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#91; &#93; Form 20-F &#160;&#160;&#91;x&#93; Form 40-F</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><img alt="image0b31.gif" src="image0b31.gif" style="height:160px;margin-bottom:5pt;vertical-align:text-bottom;width:240px"></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">DOCUMENTS INCORPORATED BY REFERENCE</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Exhibits 99.1 and 99.2 to this Report on Form 6-K are hereby incorporated by reference (i) as Exhibits to the Registration Statement on Form F-10 of First Majestic Silver Corp. (File No. 333-273734) and (ii) into the Registration Statements on Form S-8 of First Majestic Silver Corp. (File Nos. 333-258124 and 333-284314).</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">DOCUMENTS FILED AS PART OF THIS FORM 6-K</font></div><div><font><br></font></div><div style="margin-bottom:8pt;margin-top:8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Exhibits</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:3.316%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.366%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:71.266%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.225%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.227%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3fsxex991.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.1</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3fsxex991.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Condensed Interim Consolidated Financial Statements for the three and nine months ended September 30, 2025</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3mdaxex992.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.2</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3mdaxex992.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Management's Discussion and Analysis for the Quarter Ended September 30, 2025</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3ceoxex993.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.3</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3ceoxex993.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Certification of Interim Filings - CEO</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3cfoxex994.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.4</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3cfoxex994.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Certification of Interim Filings - CFO</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3financialnrxex995.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">99.5</a></font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="ag-2025q3financialnrxex995.htm" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">News Release dated November 5, 2025</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:8pt;margin-top:3pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</font></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:36.967%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:60.833%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">FIRST MAJESTIC SILVER CORP.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#47;s&#47; Samir Patel</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Samir Patel</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General Counsel &#38; Corporate Secretary</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 5, 2025</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr></table></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ag-2025q3fsxex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
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<title>Document</title></head><body><div id="i91e11c600d04484491968b82e45e0525_1"></div><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:8pt;text-align:center"><img alt="image0b34.gif" src="image0b34.gif" style="height:186px;margin-bottom:5pt;vertical-align:text-bottom;width:280px"></div><div style="margin-bottom:8pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:15pt;font-weight:700;line-height:120%">CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER&#160;30, 2025 AND 2024 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">(UNAUDITED)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%"><br><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%"><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.830%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">925 West Georgia Street, Suite 1800, Vancouver, B.C., Canada V6C 3L2<br>Phone&#58; 604.688.3033 &#124; Fax&#58; 604.639.8873&#124; Toll Free&#58; 1.866.529.2807 &#124; Email&#58; info&#64;firstmajestic.com<br>www.firstmajestic.com</font></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><div id="i91e11c600d04484491968b82e45e0525_4"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><img alt="image0b34.gif" src="image0b34.gif" style="height:213px;margin-bottom:5pt;vertical-align:text-bottom;width:320px"></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:120%">Management&#8217;s Responsibilities over Financial Reporting</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed interim consolidated financial statements of First Majestic Silver Corp. (the &#8220;Company&#8221;) are the responsibility of the Company&#8217;s management. The condensed interim consolidated financial statements are prepared in accordance with International Accounting Standard 34, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#34;Interim Financial Reporting&#34;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, as issued by the International Accounting Standards Board and reflect management&#8217;s best estimates and judgment based on information currently available.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management has developed and maintains a system of internal controls to ensure that the Company&#8217;s assets are safeguarded, transactions are authorized and properly recorded, and financial information is reliable.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors is responsible for ensuring management fulfills its responsibilities. The Audit Committee reviews the results of the condensed interim consolidated financial statements prior to their submission to the Board of Directors for approval.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The condensed interim consolidated financial statements have not been audited.</font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.767%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.769%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#47;s&#47; Keith Neumeyer</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#160;&#47;s&#47; David Soares</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Keith Neumeyer </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt 2px 10pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">David Soares, CPA, CA </font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">President &#38; CEO</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Financial Officer</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 4, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 10pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 4, 2025</font></td></tr></table></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i91e11c600d04484491968b82e45e0525_13"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">TABLE OF CONTENTS</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.723%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:90.128%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.749%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#006ebf;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_19" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Condensed Interim Consolidated Statements of Earnings (Loss)</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_19" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">1</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#006ebf;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Condensed Interim Consolidated Statements of Comprehensive Income (Loss) </a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">2</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Condensed Interim Consolidated Statements of Cash Flows</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">3</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Condensed Interim Consolidated Statements of Financial Position</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_34" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Condensed Interim Consolidated Statements of Changes in Equity</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_34" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">5</a></font></div></td></tr><tr style="height:5pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">General</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_40" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 1.  Nature of Operations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_40" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_46" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 2.  Basis of Presentation</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_46" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 3.  Material Accounting Policy Information, Estimates and Judgments</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_52" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 4.  Acquisition of Gatos Silver Inc.</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">11</a></font></div></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Earnings (Loss)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 5.  Segmented Information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 6.  Revenues</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">19</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 7.  Cost of Sales</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 8.  General and Administrative Expenses</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 9.  Mine Holding Costs</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_82" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 10.  Investment and Other Income (Loss)</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_82" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_85" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 11.  Finance Costs</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_85" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 12.  Earnings or Loss per Share</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Financial Position</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 13.  Inventories</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 14.  Other Financial Assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_103" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 15.  Mining Interests</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_103" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_106" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 16.  Property, Plant and Equipment</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_106" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">28</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 17.  Right-of-Use Assets</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">30</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_118" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 18.  Restricted Cash</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_118" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">31</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_121" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 19.  Trade and Other Payables</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_121" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">31</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 20.  Debt Facilities</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">32</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_130" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 21.  Lease Liabilities</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_130" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">34</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 22.  Share Capital</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">36</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other items</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_145" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 23.  Non-Controlling Interests</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_145" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">42</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_148" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 24.  Financial Instruments and Related Risk Management</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_148" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">43</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_151" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 25.  Supplemental Cash Flow Information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_151" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">47</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_154" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 26.  Contingencies and Other Matters</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_154" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">48</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_163" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 27.  Subsequent Events</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_163" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">52</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i91e11c600d04484491968b82e45e0525_16"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) </font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars, except share and per share amounts)</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:1pt;font-weight:400;line-height:120%">f</font></div><div id="i91e11c600d04484491968b82e45e0525_19"></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Condensed Interim Consolidated Statements of Earnings (Loss) provide a summary of the Company&#8217;s financial performance and net earnings or loss over the reporting periods.</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.063%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.772%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_70" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$285,063</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$146,087</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$793,234</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$388,267</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_73" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">7</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">131,122&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">85,694&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">389,978&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">255,279&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,860&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31,871&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">191,019&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,325&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">185,982</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">117,565</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">580,997</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">344,604</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating earnings</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">99,081</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">28,522</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">212,237</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">43,663</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_76" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">8</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,645&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,440&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,873&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,186&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,382&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,935&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,688&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,895&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine holding costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_79" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">9</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,400&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,153&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,692&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,173&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restructuring costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition Costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,584&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange (gain) loss</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,749)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,848&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,993)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,824&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating earnings (loss)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">78,847</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,146</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">153,837</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(29,415)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment and other (loss) income</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_82" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">10</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,418)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">528&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,421&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,086&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_85" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">11</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,111)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,858)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21,872)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21,277)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">66,318</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(2,184)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">133,386</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(46,606)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">taxes</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,981&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,174&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,155&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,707&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax (recovery) expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,625)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,235&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(36,550)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,094&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,356&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,409&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,605&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,801&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the period</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$42,962</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($26,593)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$105,781</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,407)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Owners of the Company</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$26,978</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($26,593)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$81,790</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($88,407)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_145" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$15,984</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$23,991</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per common share attributable to owners of the Company</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basic</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">12</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.06</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.09)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.18</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.30)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Diluted</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">12</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.06</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.09)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.18</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.30)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">average</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">shares</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">outstanding</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basic</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">12</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">488,722,642</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">301,000,656</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">475,754,745</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">293,440,674</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Diluted</font></div></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_88" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">12</a></font></div></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">492,697,444</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">301,000,656</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">479,815,177</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">293,440,674</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Approved and authorized by the Board of Directors for issuance on November&#160;4, 2025.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:36.381%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.383%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#47;s&#47; Keith Neumeyer</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">&#47;s&#47; Colette Rustad</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Keith Neumeyer, Director</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Colette Rustad, Director</font></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 1</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_22"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;Condensed Interim Consolidated Financial Statements - Unaudited</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars, except share and per share amounts)</font></td></tr></table></div><div><font><br></font></div></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Condensed Interim Consolidated</font><font style="background-color:#ffffff;color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Statemen</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ts of Comprehensive Income (Loss) provide a summary of total comprehensive earnings or loss and summarizes items recorded in other comprehensive income that may or may not be subsequently reclassified to profit or loss depending on future events.</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.274%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.063%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.911%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.040%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Note</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the period</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$42,962</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($26,593)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$105,781</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,407)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other comprehensive income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Items&#160;that&#160;will not be subsequently reclassified to net loss&#58; </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unrealized gain on fair value of investments in marketable securities, net of tax</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14(b)</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">56,503&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,825&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">86,653&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,312&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Realized gain (loss) on investments in marketable securities, net of tax</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14(b)</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">138&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,744)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(576)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other comprehensive income</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">56,641&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,818&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">84,909&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,736&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total comprehensive income (loss)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$99,603</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($20,775)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$190,690</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($80,671)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Comprehensive income (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Owners of the Company</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$83,619&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($20,775)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$166,699&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($80,671)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15,984&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$23,991&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 2</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_25"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars)</font></td></tr></table></div><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Condensed Interim Consolidated Statements of Cash Flows provide a summary of movements in cash and cash equivalents during the reporting periods by classifying them as operating, investing or financing activities.</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:43.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.938%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.630%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.386%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.630%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.630%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.386%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.633%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Operating</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Activities</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net earnings (loss) for the period</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$42,962&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($26,593)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$105,781&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($88,407)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Adjustments for&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">55,195&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32,251&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">192,027&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">90,444&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,554&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,710&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,068&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,773&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Income tax expense </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">23,356&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,409&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27,605&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">41,801&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_85" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">11</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,111&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,858&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,872&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,277&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Unrealized loss from marketable securities and silver futures derivatives</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,326&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,180&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,770&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">831&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,810&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,058)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">144&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">421&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Operating cash flows before non-cash working capital and taxes</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">141,314</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">39,757</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">366,267</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">76,140</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net change in non-cash working capital items</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_151" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(16,774)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,967&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(37,469)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,827&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Income taxes paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(12,020)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,686)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(70,680)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(15,651)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cash generated in operating</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">activities</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">112,520</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">41,038</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">258,118</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">70,316</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Investing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Activities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Expenditures on mining interests</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(40,196)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(27,837)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(117,587)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(72,620)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Acquisition of property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17,142)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5,187)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(45,631)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17,886)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Deposits paid for acquisition of non-current assets    </font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(762)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(25)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(912)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(502)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Gatos Silver Inc. cash acquired, net of cash consideration paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">159,560&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Acquisition of Springpole Silver Stream</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_103" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">15(f)</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5,000)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_151" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">147&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">329&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(225)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,211&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cash used in investing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">activities</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">(57,953)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">(32,720)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">(9,795)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">(89,797)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Financing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Activities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Proceeds from prospectus offering, net of share issue costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">22,745&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">93,899&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Proceeds from exercise of stock options</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18,710&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">36,877&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Repayment of lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_130" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5,348)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,638)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(13,856)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(12,545)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Dividends and distributions paid to non-controlling interests</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_145" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(13,499)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(23,187)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Finance costs paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,061)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,467)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6,194)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(7,078)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Repayment of debt facilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(20,000)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(20,000)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Dividends declared and paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,347)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,388)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(7,286)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,847)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Shares repurchased</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,270)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cash (used in) provided by financing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">activities</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">(4,545)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">(5,743)</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">(17,916)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">50,465</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Effect of exchange rate on cash and cash equivalents held in foreign currencies</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">580&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,768&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,835)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Increase in cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">50,022</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2,575</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">230,407</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">30,984</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cash and cash equivalents, beginning of the period</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">384,753&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">152,173&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">202,180&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">125,581&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cash and cash equivalents, end of period</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$435,355</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$154,730</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$435,355</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$154,730</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Supplemental</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">flow</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">information</font></div></td><td colspan="3" style="border-bottom:2pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_151" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 3</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_28"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">AS AT SEPTEMBER 30, 2025 AND DECEMBER 31, 2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars)</font></td></tr></table></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Condensed Interim Consolidated</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Statements of Financial Position provides a summary of assets, liabilities and equity, as well as their current versus non-current nature, as at the reporting date.</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.625%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.747%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.882%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.886%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">September 30, 2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December 31, 2024</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Assets</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$435,355&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$202,180&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">39,307&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,303&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Value added taxes receivable</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_148" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">43,866&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">33,864&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Inventories</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_94" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">13</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">96,232&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">62,524&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Other financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">14</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">139,851&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">49,781&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Prepaid expenses and other</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15,721&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,169&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">770,332</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">368,821</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Non-current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mining interests</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_103" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">15</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,674,915&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,034,522&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_106" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">16</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">554,009&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">378,630&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Right-of-use assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_109" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">17</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">18,369&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">23,898&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Deposits on non-current assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,564&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,720&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,000&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Non-current restricted cash</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_118" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">18</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">133,416&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">106,072&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Non-current value added taxes receivable</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_148" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,870&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,750&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">62,025&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">46,375&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">assets</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$4,235,500</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,979,788</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Liabilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Equity</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_121" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">19</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$188,625&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$103,895&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Unearned revenue</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_70" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">6</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,621&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">580&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Current portion of debt facilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">533&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">825&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_130" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">13,858&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">16,215&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Income taxes payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">17,313&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">22,792&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">227,950</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">144,307</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Non-current</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">216,220&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">208,657&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_130" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,562&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11,320&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Decommissioning liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">177,075&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">159,067&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Other liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,107&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,587&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Non-current income taxes payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">21,701&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">19,685&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">571,445&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">80,094&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">liabilities</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,228,060</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$628,717</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Share capital</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,065,440&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,978,101&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Equity reserves</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">176,655&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">90,028&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Accumulated deficit</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(642,555)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(717,058)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Equity attributable to owners of the Company</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,599,540&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,351,071&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_145" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">407,900&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">equity</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$3,007,440</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,351,071</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">liabilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">equity</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$4,235,500</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,979,788</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="12" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Commitments (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_148" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#59; Contingencies (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_154" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">26</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#59; Subsequent event (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_163" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%;text-decoration:underline">27</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 4</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_34"></div><hr style="page-break-after:always"><div style="min-height:67.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(In thousands of US dollars, except share and per share amounts)</font></td></tr></table></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Condensed Interim Consolidated Statements of Changes in Equity summarizes movements in equity, including common shares, share capital, equity reserves and retained earnings or accumulated deficit.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.087%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.648%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;Share Capital</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total equity reserves</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Accumulated deficit</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Equity&#160;&#160;&#160;&#160;attributable&#160;&#160;&#160;&#160;to owners&#160;&#160;&#160;&#160;of the&#160;&#160;&#160;&#160;Company</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Non-<br>controlling Interest</font></td><td colspan="3" style="padding:2px 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style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,358,121</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net loss for the period</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(88,407)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,736&#160;</font></td><td style="background-color:#cfdbff;padding:2px 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style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,736&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7,736</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">7,736</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(88,407)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(80,671)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(80,671)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,773&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,773&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,773&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,773&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares issued for&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Prospectus offerings (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22</a>(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)  </font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">14,300,000&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">93,899&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">93,899&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">93,899&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Exercise of stock options (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22</a>(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6,000&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">56&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(20)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">36&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Settlement of restricted and deferred share units (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22</a>(c)</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">and </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22(e</a>)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">268,546&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,769&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,769)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,769)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Dividend declared and paid (Note</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%"> </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22</a>(f)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3,847)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3,847)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3,847)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Balance at September 30, 2024</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">301,721,261</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,976,695</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$126,288</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($27,488)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$3,945</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$102,745</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($702,130)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,377,310</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,377,310</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Balance at <br>December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">301,863,238</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,978,101</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$127,110</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($41,026)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$3,945</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$90,028</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($717,058)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,351,071</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$1,351,071</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net earnings for the period</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">81,790&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">81,790&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">23,991&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">105,781&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other comprehensive income</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">84,909&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">84,909&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">84,909&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">84,909&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total comprehensive income</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">84,909</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">84,909</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">81,790</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">166,699</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,991</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">190,690</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,068&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,068&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,068&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,068&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares issued for&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Acquisition of Gatos (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">179,640,768&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,020,359&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">26,023&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">26,023&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,046,382&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">407,096&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,453,478&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Exercise of stock options (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22</a>(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,781,754&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">67,717&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(30,840)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(30,840)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">36,877&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">36,877&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Settlement of restricted, preferred, and deferred share units (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22(c)</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">, </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22(d)</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">, </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%"> </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22(e)</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">504,075&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,533&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3,533)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(3,533)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Dividends and distributions to non-controlling interest (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_145" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">23</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23,187)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(23,187)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Shares repurchased (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22</a>(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(768,500)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4,270)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4,270)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(4,270)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Dividend declared and paid (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_142" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%;text-decoration:underline">22</a>(f)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(7,286)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(7,286)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(7,286)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Balance at September 30, 2025</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">490,021,335</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$3,065,440</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$128,828</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$43,883</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$3,945</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$176,655</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($642,555)</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$2,599,540</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$407,900</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$3,007,440</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:3pt;padding-left:24.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%;padding-left:9.87pt">Share-based payments reserve records the cumulative amount recognized under IFRS 2 share-based payments in respect of stock options granted, restricted share units, deferred share units, preferred share units and shares purchase warrants issued but not exercised or settled to acquire shares of the Company.</font></div><div style="margin-bottom:3pt;padding-left:24.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%;padding-left:9.52pt">Other comprehensive income reserve principally records the unrealized fair value gains or losses related to fair value through other comprehensive income (&#34;FVTOCI&#34;) of financial instruments and re-measurements arising from actuarial gains or losses and return on plan assets in relation to San Dimas' retirement benefit plan.</font></div><div style="margin-bottom:3pt;padding-left:24.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%">(c)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:120%;padding-left:10.29pt">Equity component of convertible debenture reserve represents the estimated fair value of its conversion option of $42.3 million, net of deferred tax effect of $11.4 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves.</font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 5</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_37"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Condensed Interim Consolidated Financial Statements - Unaudited</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td></tr></table></div></div><div><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_40"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">1.  NATURE OF OPERATIONS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic Silver Corp. (the &#8220;Company&#8221; or &#8220;First Majestic&#8221;) is in the business of production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. The Company owns four producing mines in Mexico consisting of the Santa Elena Silver&#47;Gold Mine, the newly acquired Los Gatos Silver Mine (through the Company's 70% interest in the Los Gatos joint venture) (see Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">4</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), the San Dimas Silver&#47;Gold Mine, and the La Encantada Silver Mine. The Company also owns the Jerritt Canyon Gold Mine in Nevada, USA which the Company placed on temporary suspension on March 20, 2023 to focus on exploration, definition, and expansion of the mineral resources and optimization of mine planning and plant operations. The Company owns two additional mines in Mexico that are in suspension&#58; the San Martin Silver Mine and the Del Toro Silver Mine, and several exploration stage projects. In addition, the Company is the 100% owner and operator of its own minting facility, First Mint, LLC (&#34;First Mint&#34;). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">First Majestic is incorporated in the Province of British Columbia, Canada, and is publicly listed on the New York Stock Exchange (&#8220;NYSE&#8221;) and the Toronto Stock Exchange (&#8220;TSX&#8221;)  under the symbol &#8220;AG&#8221;, and on the Frankfurt Stock Exchange under the symbol &#8220;FMV&#8221;. The Company&#8217;s head office and principal address is located at Suite 1800 - 925&#160;West Georgia Street, Vancouver, British Columbia, V6C 3L2, Canada.</font></div><div style="text-align:justify"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_46"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">2.  BASIS OF PRESENTATION</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard (&#8220;IAS&#8221;) 34, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#8220;Interim Financial Reporting&#8221;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of the IFRS Accounting Standards as issued by the International Accounting Standards Board (&#34;IASB&#34;)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> These condensed interim consolidated financial statements should be read in conjunction with the Company&#8217;s audited consolidated financial statements as at and for the year ended December&#160;31, 2024 as some disclosures from the annual consolidated financial statements have been condensed or omitted.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements have been prepared on a historical cost basis except for certain items that are measured at fair value including derivative financial instruments (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_148" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">24</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) and marketable securities (Note&#160;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">14</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). All dollar amounts presented are in thousands of United States dollars unless otherwise specified.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements incorporate the financial statements of the Company and its controlled subsidiaries. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances, transactions, income and expenses are eliminated on consolidation.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements were prepared using accounting policies consistent with those in the audited consolidated financial statements as at and for the year ended December&#160;31, 2024 except as outlined in Note</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">3</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </font></div><div><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_52"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3.  MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES AND JUDGMENTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s management makes judgments in its process of applying the Company&#8217;s accounting policies in the preparation of its unaudited condensed interim consolidated financial statements. In addition, the preparation of the financial data requires the Company&#8217;s management to make assumptions and estimates of the impacts of uncertain future events on the carrying amounts of the Company&#8217;s assets and liabilities at the end of the reporting period, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates as the estimation process is inherently uncertain. Estimates are reviewed on an ongoing basis based on historical experience and other factors that are considered to be relevant under the circumstances. Revisions to estimates and the resulting impacts on the carrying amounts of the Company&#8217;s assets and liabilities are accounted for prospectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In preparing the Company&#8217;s unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2025, the Company applied the accounting policies, critical judgments and estimates disclosed in Note 3 of its audited consolidated financial statements for the year ended December&#160;31, 2024 and the following accounting policies, critical judgments and estimates in applying accounting policies&#58;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 6</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">3.  MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES AND JUDGMENTS (continued)</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">New and amended IFRS standards that are effective for the current year</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the current year, the Company has applied the below amendments to IFRS Accounting Standards as issued by the IASB that were effective for annual periods that begin on or after January 1, 2025. Their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Lack of Exchangeability (Amendments to IAS 21)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments clarify how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. In addition, the amendments require the disclosure of information that enables users of financial statements to understand the impact of a currency not being exchangeable.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments were applied effective January 1, 2025 and did not have a material impact on the Company&#8217;s consolidated financial statements. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Future Changes in Accounting Policies Not Yet Effective in the Current Period</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the date of authorization of these financial statements, the Company has not applied the following new and revised IFRS Accounting Standards that have been issued but are not yet effective. Management does not expect that the adoption of the Standards listed below will have a material impact on the financial statements of the Company in future periods, except if indicated.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Presentation and Disclosure in Financial Statements (Amendment to IFRS 18)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2024, the IASB released IFRS 18 Presentation and Disclosure in Financial Statements. IFRS 18 replaces IAS 1 Presentation of Financial Statements while carrying forward many of the requirements in IAS 1. IFRS 18 introduces new requirements to&#58; i) present specified categories and defined subtotals in the statement of earnings, ii) provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements, iii) improve aggregation and disaggregation. Some of the requirements in IAS 1 are moved to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and IFRS 7 Financial Instruments&#58; Disclosures. The IASB also made minor amendments to IAS 7 Statement of Cash Flows and IAS 33 Earnings per Share in connection with the new standard. IFRS 18 requires retrospective application with specific transition provisions. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are effective for annual reporting periods beginning on or after January 1, 2027, although earlier application is permitted. The Company is currently evaluating the impact of IFRS 18 on the Company&#8217;s consolidated financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments provide guidance on the derecognition of a financial liability settled through electronic transfer, as well as the classification of financial assets for&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; Contractual terms consistent with a basic lending arrangement&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; Assets with non-recourse features&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; Contractually linked instruments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the amendments introduce new disclosure requirements related to investments in equity instruments designated at fair value through other comprehensive income (&#8220;FVOCI&#8221;), and additional disclosures for financial instruments with contingent features. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These amendments are effective for annual reporting periods beginning on or after January 1, 2026, although earlier application is permitted. The Company is currently evaluating the impact of these amendments.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 7</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">3.  MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Critical Judgments and Estimates</font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fair Value Estimates in the acquisition of Gatos Silver, Inc. (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">4</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In business combinations, it generally requires time to obtain the information necessary to identify and measure the following as of the acquisition date&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">     (i)   The identifiable assets acquired and liabilities assumed&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">     (ii)  The consideration transferred in exchange for an interest in the acquiree&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">     (iii) Exploration potential and any resulting goodwill.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Company reports in its interim consolidated financial statements provisional amounts for the items for which the accounting is incomplete. These provisional amounts are adjusted during the measurement period, or additional assets or liabilities are recognized, to reflect new information obtained about facts and circumstances that existed as of the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date. The measurement period ends as soon as the Company receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable and shall not exceed one year from the acquisition date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of assets acquired and liabilities assumed requires that management make judgments and estimates taking into account information available at the time of the acquisition about future events including, but not restricted to, estimates of mineral reserves and resources, exploration potential, future metal prices, future operating costs and capital expenditures and discount rates. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the allowable measurement period, the Company will retrospectively adjust the provisional amounts recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date. The Company may also recognize additional assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date and, if known, would have resulted in the recognition of those assets and liabilities as of that date. The measurement period ends as soon as the Company receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable and shall not exceed one year from the acquisition date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of assets acquired and liabilities assumed are subject to change for up to one year from the Acquisition Date. If new information arises which would impact management's assessment of the fair value at the Acquisition Date, any adjustments to the allocation of the purchase consideration will be recognized retrospectively and comparative information will be revised. Consequently, the final allocation of the purchase price may result in different adjustments than those shown in the unaudited interim consolidated financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consideration for the acquisition of Gatos Silver, Inc. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquisitions of businesses are accounted for using the acquisition method. The consideration of each business combination is measured, at the date of the exchange, as the aggregate of the fair value of assets given, liabilities incurred or assumed and equity instruments issued by the Company to the former owners of the acquiree in exchange for control of the acquiree.  Management made judgments and estimates in calculating the value of the shares and options transferred, including but not limited to share price, volatility, rate of quarterly dividends and the discount rate. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 8</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">3.  MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Critical Judgments and Estimates (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Determination of Control or Significant Influence in Los Gatos Joint Venture (the &#8220;LGJV&#8221;) (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">4</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the Gatos Silver acquisition, the Company now holds a 70% interest in the LGJV. Judgment is required to determine whether the Company controls or has significant influence over the LGJV, which impacts the accounting treatment to consolidate or account for the investment using the equity method, respectively. The assessment required judgment related to factors including, but not limited to, the relevant activities of the LGJV and the substantive rights of the shareholders to approve, among other things, operating policies, budgets, and financing plans. The Company determined that, based on its ability to direct the activities that most significantly affect the returns of the LGJV, it had obtained control over LGJV as of January 16, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Revenue Recognition (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Note 6</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue from concentrate sales to independent smelters is recognized when control of the asset is transferred to the customer. Contracts typically provide for provisional payments based on assays and quoted metal prices, with final settlement based on commodity prices during specified quotational periods, ranging from one month prior to shipment to three months after arrival at the smelter. Sales revenue is initially recognized on a provisional basis using the Company&#8217;s best estimate of contained metal and adjusted subsequently. Revenue on provisionally priced sales is recognized based on significant fair value estimates using forward market prices and quantities. At each reporting date, mark-to-market adjustments are made to provisionally priced metal based on the contract's quotational period. In periods of high price volatility, mark-to-market adjustments for unsettled metal quantities can be significant. Provisional sales quantities are adjusted upon receipt of new information.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">New Accounting Policies</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Non-Controlling Interest (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_145" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">23</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-controlling interest represents equity interests in subsidiaries owned by external parties. The share of net assets of subsidiaries attributable to non-controlling interests is presented as a component of equity. Non-controlling interest is allocated a share of net income and other comprehensive income, which is recognized directly in equity, even if the results of the non-controlling interest show a deficit balance. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company treats transactions with non-controlling interests as transactions with equity shareholders. Changes in the Company's ownership interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. Non-controlling interests are measured either at fair value or at the non-controlling interests&#8217; proportionate share of the recognized amounts of the acquirers&#8217; identifiable net assets as at the date of acquisition. The choice of measurement basis is made on a transaction by transaction basis. The Company elected to measure the non-controlling interest of the LGJV at the date the Company acquired control, based on the proportionate share of the entity's recognized net assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Revenue Recognition (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Note 6</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company's primary product is silver and gold. Other metals, such as zinc, lead, and copper produced as part of the extraction process are considered to be by-products arising from the production of silver and gold. Smelting and refining charges are net against revenue from the sale of metals. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue relating to the sale of metals is recognized when control of the metal or related services are transferred to the customer in an amount that reflects the consideration the Company expects to receive in exchange for the metals.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When considering whether the Company has satisfied its performance obligation, it considers the indicators of the transfer of control, which include, but are not limited to, whether&#58; the Company has a present right to payment&#59; the customer has legal title to the asset&#59; the Company has transferred physical possession of the asset to the customer&#59; and the customer has the significant risks and rewards of ownership of the asset. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 9</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">3.  MATERIAL ACCOUNTING POLICY INFORMATION, ESTIMATES AND JUDGMENTS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%">New Accounting Policies (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Revenue Recognition (</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Note 6</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">) (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Metals in dor&#233; sold are priced on date of transfer of control. Final weights and assays are adjusted on final settlement which is approximately one month after delivery. Metals in concentrate sold are provisionally priced at the date of transfer of control as the final selling price is subject to movements in the monthly average prices up to the final settlement date, typically one to three months after delivery to the customer. For this purpose, the transaction price can be measured reliably for those products, such as silver, gold, zinc, lead and copper, for which there exists an active and freely traded commodity market such as the London Metals Exchange and the value of product sold by the Company is directly linked to the form in which it is traded on that market.       </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">         </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Sales revenue is commonly subject to adjustments based on an inspection of the product by the customer. In such cases, sales revenue is initially recognized on a provisional basis using the Company&#8217;s best estimate of contained metal, and adjusted subsequently. Revenues are recorded under these contracts at the time control passes to the buyer based on the expected settlement period. Revenue on provisionally priced sales is recognized based on estimates of the fair value of the consideration receivable, which is determined using forward market prices and estimated quantities. At each reporting date, provisionally priced metal is marked to market based on the forward selling price for the quotational period stipulated in the contract. Variations between the price recorded at the date when control is transferred to the buyer and the actual final price set under the smelting contracts are caused by changes in metal prices.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue from the sale of coins, ingots and bullion is recorded when the products have been shipped and funds have been received. When cash was received from customers prior to shipping of the related finished goods, the amounts are recorded as unearned revenue until the products are shipped.</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 10</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_55"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">4.  ACQUISITION OF GATOS SILVER, INC.</font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consideration and Purchase Price Allocation</font></div><div style="margin-bottom:1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 16, 2025, the Company completed its acquisition of Gatos Silver, Inc. (&#8220;Gatos&#8221;) pursuant to a merger agreement that was entered into between the parties on September 4, 2024 (the &#34;Merger Agreement&#34;), and as a result of such acquisition, Gatos became a wholly-owned subsidiary of the Company. The Company issued an aggregate of 177,433,006 common shares of the Company to acquire all of the issued and outstanding shares of common stock of Gatos (in addition to a nominal amount of cash in lieu of fractional First Majestic common shares), resulting in former Gatos shareholders holding approximately 38% of the issued and outstanding common shares of the Company post-closing on a fully diluted basis at the closing of the transaction. In addition, the Merger Agreement provided for the issuance by First Majestic of options to purchase an aggregate of 8,242,244 First Majestic options in exchange for all existing Gatos options at exercise prices adjusted by the exchange ratio of 2.55 (&#34;the Exchange Ratio&#34;). All existing RSUs and DSUs of Gatos were settled for an aggregate of 2,207,762 First Majestic common shares.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gatos holds a 70% interest in the Los Gatos Joint Venture (&#8220;LGJV&#8221;), which owns the producing Los Gatos underground silver mine in Chihuahua, Mexico. The Los Gatos mine consists of approximately 103,000 hectares of mineral rights, representing a highly prospective and under-explored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets. The acquisition was completed in order to support the Company's growth strategy by adding another cornerstone asset within a world-class mining jurisdiction to the Company's portfolio.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management has concluded that Gatos constitutes a business and, therefore, the acquisition is accounted for in accordance with IFRS 3 - Business Combinations. Given the delivery of the consideration and the fulfillment of the covenants as per the Merger Agreement, the transaction was deemed to be completed with First Majestic identified as the acquirer. Based on the opening market price of the Company&#8217;s common shares on January 16, 2025 (the &#8220;Acquisition Date&#8221;), the total consideration of the Gatos acquisition is $1.05 billion. The Company began consolidating the operating results, cash flows and net assets of Gatos from January 16, 2025 onwards</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The determination of the fair value of assets acquired and liabilities assumed is based on a detailed valuation of Gatos' net assets, utilizing income, market, and cost valuation methods conducted with the assistance of an independent third party. The determination of the fair value of assets acquired and liabilities assumed was previously reported based on preliminary estimates at the Acquisition Date. During the second quarter of 2025, the Company finalized the full and detailed valuation of the fair value of the net assets of Gatos acquired using income, market, and cost valuation methods with the assistance of an independent third party. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 11</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">4.  ACQUISITION OF GATOS SILVER, INC. (continued)</font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consideration and Purchase Price Allocation (continued)</font></div><div style="margin-bottom:1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total consideration for the acquisition was valued at $1.05 billion on the Acquisition Date. The following table summarizes the consideration paid as part of the purchase price&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.595%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.621%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Consideration</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">177,433,066 Consideration Shares issued to Gatos shareholders with an accounting fair value of $5.68 per share</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$1,007,819&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,207,762 Consideration DSUs and RSUs of Gatos converted to First Majestic common shares with an accounting fair value of $5.68 per share</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,540&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,242,244 Consideration Options of Gatos converted to First Majestic Options with an accounting fair value of $3.51 per option</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">26,023&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Other consideration</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,841&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total consideration</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,054,223</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.11pt">Fair value of Consideration Shares was estimated at $5.68 per share based on the opening price of First Majestic&#8217;s common shares on the New York Stock Exchange on January 16, 2025. </font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.11pt">Other consideration is made up of cash payments for withholding taxes and payments made for fractional shares.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.11pt">The fair value of Consideration Options was estimated using the Black-Scholes method as at the Acquisition Date, using the following assumptions&#58;</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:84.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.351%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Risk-free interest rate (%)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.94% - 3.05%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected life (years)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.99</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected Volatility (%)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">58%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected dividend yield (%)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">0.28%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 12</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">4.  ACQUISITION OF GATOS SILVER, INC. (continued)</font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consideration and Purchase Price Allocation (continued)</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the purchase price allocated to the identifiable assets and liabilities based on their estimated fair values on the Acquisition Date&#58;</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.960%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Allocation of Purchase Price</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Cash and cash equivalents</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$167,401&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Inventories</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">19,107&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Trade and other receivables</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">19,644&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">VAT receivables</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,026&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Prepaid expenses and other</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,505&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mining interest</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,658,689&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Property, plant and equipment</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">185,261&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Right-of-use assets</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">281&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(65,037)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Income taxes payable</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(12,717)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Lease obligations</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(415)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Decommissioning liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(8,112)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(511,314)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Net assets acquired</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,461,319</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(407,096)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Net assets attributable to the Company</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,054,223</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)  Trade and other receivables are expected to be fully recoverable.</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Cash acquired by the Company on the Acquisition Date was $159.6 million net of withholding taxes on RSU settlements amounting to $7.8 million. </font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial and operating results of Gatos are included in the Company&#8217;s consolidated financial statements effective January 16, 2025. During the three and nine months ended September 30, 2025, the acquisition of Gatos contributed $108.7 and $302.3 million of revenues, respectively, and $38.6 million and $62.7 million of net earnings, respectively, to the Company&#8217;s financial results since January 16, 2025.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Had the business combination been effective at January 1, 2025, the Company's pro forma revenues and net earnings for the three and nine months ended September 30, 2025 would have been $285.1 million and $43.0 million, and $810.7 million and $109.0 million, respectively. Total transaction costs of $5.6 million related to the acquisition were expensed in Q1 2025.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 13</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">4.  ACQUISITION OF GATOS SILVER, INC. (continued)</font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consideration and Purchase Price Allocation (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company used discounted cash flow models to determine the fair value of the depletable mining interest. The expected future cash flows are based on estimates of future silver, gold, lead, zinc and copper prices, estimated quantities of mineral reserves and mineral resources, expected future production costs and capital expenditures based on the life of mine plans at the Acquisition Date. The discounted future cash flow models used a 6.00% discount rate based on the Company&#8217;s assessment of country risk, project risk and other potential risks specific to the acquired mining interest. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The significant assumptions used in the determination of the fair value of the mining interests were as follows&#58;</font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average long-term prices&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$28.50</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$2,200</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$1.25</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$1.10</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$4.50</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Discount rate</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6.0%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average grades over life of mine&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">150 g&#47;t</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">0.21 g&#47;t</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.84%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.01%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">0.20%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average recovery rate&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">88.20%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">54.20%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">63.10%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">88.10%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">74.00%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine life (years)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10</font></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company used a market approach to determine the fair value of exploration potential by comparing the costs of other precedent market transactions on a dollar per hectare basis. Those amounts were used to determine the range of area-based resources multiples implied within the value of transactions by other market participants. Additionally, the Company completed a secondary valuation by comparing the costs of other precedent transactions within the industry on a dollar per in situ ounce basis and selected a multiple within this range for additional ounces identified outside of the life-of-mine.  Management made a significant assumption in the determination of the fair value of exploration potential by using an implied multiple of $5,208 per hectare or $3.16 per silver equivalent ounce for a total of $536.4 million. The Company accounted for exploration potential through inclusion within non-depletable mineral interest.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_58"></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 14</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">5.  SEGMENTED INFORMATION</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All of the Company&#8217;s operations are within the mining and metals industry and its major products are precious metals dor&#233; and concentrate which are refined or smelted into pure silver and gold and sold to global metal brokers. Transfer prices between reporting segments are set on an arms-length basis in a manner similar to transactions with third parties. Coins and bullion cost of sales are based on transfer prices.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">An operating segment is defined as a component of the Company that&#58;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Engages in business activities from which it may earn revenues and incur expenses&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Whose operating results are reviewed regularly by the entity&#8217;s chief operating decision maker&#59; and</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">For which discrete financial information is available.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three and nine months ended September 30, 2025, the Company's significant operating segments include its four operating mines in Mexico, including its newly acquired Los Gatos Silver mine in Chihuahua, its Jerritt Canyon Gold Mine in Nevada, United States, its minting facility in Nevada, United States and bullion store in Canada, both of which form the First Mint LLC (&#8220;First Mint&#8221;) operating segment, and its &#34;non-producing properties&#34; in Mexico which include the Del Toro and San Martin mines, which have been placed on suspension. The Jerritt Canyon Gold mine was placed on temporary suspension as of March 20, 2023 to focus on exploration, definition, and expansion of the mineral resources and optimization of mine planning and plant operations. &#8220;Others&#8221; consists primarily of the Company&#8217;s corporate assets including cash and cash equivalents, other development and exploration properties (Note&#160;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_103" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">15</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), debt facilities (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">20</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), and corporate expenses which are not allocated to operating segments. The Company&#8217;s chief operating decision maker (&#8220;CODM&#8221;) evaluates segment performance based on mine operating earnings. Therefore, other income and expense items not directly related to mining operations are not allocated to the segments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 15</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_61"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">5.  SEGMENTED INFORMATION (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Significant information relating to the Company&#8217;s reportable operating segments is summarized in the tables below&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.531%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.043%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Three Months Ended <br>September 30, 2025 and 2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;Revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Depletion, depreciation, and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">20,660</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">16,806</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">3,770</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">84</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">3,898</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15,096&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,789&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,373&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(1,066)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,923&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;&#160;&#160;Non-producing Properties</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">15</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(15)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">229</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(38)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">233&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td 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1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td 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0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,665&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,091&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Others</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">848</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" 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1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">39&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">653&#160;</font></td><td 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style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(5,705)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" 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0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$285,063</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 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0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$99,081</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$52,058</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$146,087</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$85,694</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$31,871</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$28,522</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$34,736</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) The First Mint segment is inclusive of operations from the Company's bullion store and its minting facility located in Nevada. This segment generated coin  and bullion revenue of $11.1 million (September&#160;30, 2024 - $2.7 million) through the sale of 266,583 silver ounces (September&#160;30, 2024 - 83,852) at an average price of $41.68 per ounce (September&#160;30, 2024 - $31.78).</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Santa Elena and Jerritt Canyon have incurred mine holding costs related to care and maintenance and temporary suspension activities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline">9</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">).</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) Jerritt Canyon was placed on temporary suspension in March 2023. In-circuit recovery efforts performed in 2024 during the three months ended September 30, 2024 resulted in the recovery of 1,684 ounces. </font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three months ended September 30, 2025, the Company had six (September&#160;30, 2024 - four) customers that accounted for 95% (September&#160;30, 2024 - 95%) of its sales revenue, with two major metal brokers accounting for 59% of total revenue, each contributing 32% and 27%, respectively (September&#160;30, 2024 - two major metal brokers accounted for 86%).</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 16</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_64"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-top:5pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">5.  SEGMENTED INFORMATION (continued)</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.022%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.335%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025 and 2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;Revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Santa Elena</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:700;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">104,505</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">96,540</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">196,410</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">131,207</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">39,220</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">25,983</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">42,848</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">142,066&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">118,533&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">35,675&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(12,142)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">39,443&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">59,690</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">48,935</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">11,140</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(385)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">9,386</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">40,130&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">39,865&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 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1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,423&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Non-producing Properties</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">54</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(54)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">967</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">117&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(117)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">540&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">United States</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Jerritt Canyon</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:700;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(2)(3)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">278</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">47</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">1,985</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(1,754)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">7,562</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,424&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,911&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,321&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 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style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">First Mint</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:700;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">26,753</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">16,001</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">473</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">10,279</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,949&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,510&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">319&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">120&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Others</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">989</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">1,609</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(2,599)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">5,993</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,942&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,932&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(3,874)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,381&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Intercompany elimination</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(21,837)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(11,626)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">(10,211)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(8,297)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(7,635)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(662)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$793,234</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$389,978</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$191,019</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$212,237</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$159,013</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$388,267</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$255,279</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$89,325</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$43,663</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$91,204</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) The First Mint segment is inclusive of operations from the Company's bullion store and its minting facility located in Nevada. This segment generated coin  and bullion revenue of $26.8 million (September&#160;30, 2024 - $6.9 million) from coins and bullion sales of 741,954 silver ounces (September&#160;30, 2024 - 120,811) at an average price of $36.06 per ounce (September&#160;30, 2024 - $30.52). </font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Santa Elena and Jerritt Canyon have incurred mine holding costs related to care and maintenance and temporary suspension activities (<a href="#i91e11c600d04484491968b82e45e0525_79" style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">Note</a><a href="#i91e11c600d04484491968b82e45e0525_79" style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none"> </a></font><font style="color:#3051f2;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_79" style="color:#3051f2;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">9</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">).</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) Jerritt Canyon was placed on temporary suspension in March 2023. In-circuit recovery efforts performed in 2024 during the nine months ended September 30, 2024 resulted in the recovery of 2,405 ounces.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, the Company had six (September&#160;30, 2024 - four) customers that accounted for 96% (September&#160;30, 2024 - 97%) of its sales revenue, with two major metal broker accounting for 72% of total revenue, each contributing 43% and 29%, respectively (September&#160;30, 2024 -  two major metal brokers accounted for 90%).</font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 17</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_67"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-top:5pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">5.  SEGMENTED INFORMATION (continued)</font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.186%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.998%"></td><td style="width:0.1%"></td></tr><tr style="height:18pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">At September 30, 2025 and <br>December 31, 2024</font></td><td colspan="3" rowspan="2" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$150,233</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" 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style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">528,385</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font 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style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;&#160;&#160;Non-producing Properties</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td 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style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 18</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_70"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">6.  REVENUES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of the Company&#8217;s revenues are from the sale of precious metals contained in dor&#233; and concentrate form. The Company&#8217;s primary products are precious metals (silver and gold). Revenues from the sale of metal, including by-products, are recorded net of smelting and refining costs. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues for the period are summarized as follows&#58;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.625%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.894%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.186%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.194%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">revenue</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">from</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">payable</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">metals&#58;</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160;Silver</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$160,180&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">56</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$57,654&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$443,304&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$158,559&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160; &#160;Gold</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95,866&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,338&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">266,272&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">231,732&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Lead</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,911&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,592&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Zinc</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,173&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,831&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Copper</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">593&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,442&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross revenue</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">286,723</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">146,992</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">797,441</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">390,291</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less&#58; smelting and refining costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,660)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(905)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,207)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$146,087</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$793,234</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$388,267</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company had $7.6 million of unearned revenue (December 31, 2024 - $0.6 million) that has not satisfied performance obligations. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Gold Stream Agreement with Sandstorm Gold Ltd.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Santa Elena mine is subject to a 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(&#8220;Sandstorm&#8221;), which requires the Company to sell to Sandstorm 20% of its gold production over the life-of-mine from its leach pad and underground operations. The selling price to Sandstorm is the lesser of the prevailing market price or $450 per ounce, subject to a 1% annual inflation adjustment. During the three and nine months ended September 30, 2025, the Company delivered zero ounces (September&#160;30, 2024 - 21 ounces) of gold to Sandstorm. On October 20, 2025, Royal Gold Inc. 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For the three and nine months ended September 30, 2025, the Company incurred $3.4 million and $9.3 million respectively (September&#160;30, 2024 - $3.0 and $7.9 million) in NSR royalty payments in connection with production from Ermita&#241;o.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the Company sold a portfolio of its existing royalty interests to Metalla Royalty and Streaming Limited (&#34;Metalla&#34;). Under the agreement, the Company has granted Metalla a 100% gross value royalty for the first 1,000 ounces of gold produced annually from the La Encantada property. For the three and nine months ended September 30, 2025, the Company has incurred $0.1 million and $0.2 million (September&#160;30, 2024 - $0.1 million and $0.3 million) in royalty payments from gold production at La Encantada.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Los Gatos Silver Mine is subject to the terms of an exploration, exploitation and unilateral promise of assignment of rights agreement with La Cuesta International S.A. de C.V. (&#34;La Cuesta&#34;) dated May 4, 2006. The Los Gatos Silver Mine is required to pay a production royalty to La Cuesta of a) 2% net smelter return on production from the concession until all payments reach $10 million and b) 0.5% net smelter return on production from the concession after total payments have reached $10 million and c) 0.5% net smelter return on production from other property within a one-kilometer boundary of the Los Gatos Silver Mine. The agreement has no expiration date&#59; however, Gatos may terminate the agreement upon a 30-day notice. During the three and nine months ended September 30, 2025, the Company has incurred $0.1 million and $0.7 million (September&#160;30, 2024 - $nil) in NSR royalty payments in connection with production from Los Gatos.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 19</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">6.  REVENUES (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Gold Stream Agreement with Wheaton Precious Metals Corporation</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2018, the San Dimas mine entered into a purchase agreement with Wheaton Precious Metals International (&#34;WPMI&#34;), a wholly owned subsidiary of Wheaton Precious Metals Corp., which entitles WPMI to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1 gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment) and the prevailing market price for each gold equivalent ounce delivered. Should the average gold to silver ratio over a six-month period exceed 90&#58;1 or fall below 50&#58;1, the fixed exchange ratio would be increased to 90&#58;1 or decreased to 50&#58;1, respectively. The fixed gold to silver exchange ratio as of September 30, 2025, was 90&#58;1. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and nine months ended September&#160;30, 2025, the Company delivered 7,235 and 22,853 ounces (September&#160;30, 2024 - 7,022 and 21,756 ounces) of gold to WPMI at $643 and $640 per ounce (September&#160;30, 2024 - $637 and $634 per ounce).  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_73"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">7.  COST OF SALES</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales are costs that are directly related to production and generation of revenues at the operating segments. Significant components of cost of sales, excluding depletion, depreciation and amortization are comprised of the following&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.624%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Labour costs</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$56,617&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$39,692&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$163,043&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$123,075&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consumables and materials</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33,720&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,432&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94,222&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,827&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Energy</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,991&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,488&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38,198&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,791&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Maintenance</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,408&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,772&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,062&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,819&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Assays and labwork</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,035&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">761&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,489&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,556&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Insurance</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">950&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">625&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,823&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,904&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,308&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,779&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,504&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,388&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Production costs</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$111,029</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$74,549</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$324,341</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$226,360</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transportation and other selling costs</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,310&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">632&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,292&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,921&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Workers' participation costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,450&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,946&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,973&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,406&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Environmental duties and royalties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,756&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,900&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17,152&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,328&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finished goods inventory changes</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,398)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,667&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,512)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(495)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,975&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,732&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,759&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost of Sales</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$131,122</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$85,694</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$389,978</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$255,279</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Other costs (within production costs) include services such as machinery rentals, rights payments, corporate staff support, and external consultants. The inventory write-downs during the three and nine months ended September 30, 2025 totaled to $nil (September&#160;30, 2024 - $nil and $1.5 million related to La Encantada).</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Other costs in 2025 include elevated waste costs from ore below cut-off grade at La Encantada, as poor ground conditions impacted mine development activities. Additionally, other costs included elevated maintenance and energy costs at Santa Elena along with higher diesel generator rental costs and energy charges driven by weather related events at San Dimas. Other cost in 2024 relate to $1.8 million incurred at San Dimas as a result of increased diesel consumption due to the use of back up energy sources following low water levels at the Las Truchas hydroelectric dam and damage to the power lines at the hydroelectric plant.</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 20</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_76"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">8.  GENERAL AND ADMINISTRATIVE EXPENSES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">General and administrative expenses are incurred to support the administration of the business that are not directly related to production. Significant components of general and administrative expenses are comprised of the following&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.057%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.057%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.625%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Corporate administration</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2,780&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2,194&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$9,327&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$6,784&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Salaries and benefits</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,027&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,329&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,236&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,933&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Audit, legal and professional fees</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,146&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,255&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,032&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,451&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Filing and listing fees</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">172&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">153&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">785&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">459&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Directors' fees and expenses</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">185&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">129&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">485&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">440&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">335&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">380&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,008&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,119&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$10,645</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$9,440</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$35,873</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$28,186</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_79"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">9.  MINE HOLDING COSTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s mine holding costs are primarily comprised of labour costs associated with care and maintenance staff, electricity, security, environmental and community support costs for the following mines which are currently under temporary suspension&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.929%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.408%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.624%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Del Toro</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#003366;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$486&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">508&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,367&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,917&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">San Martin</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">283&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">192&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">536&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">479&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Santa Elena</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">803&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,826&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,690&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,631&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,650&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,963&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,087&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,400</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,153</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$14,692</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,173</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:5pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) The Company resumed operations at the Santa Elena mine during the quarter, having previously processed ore exclusively from the Ermita&#241;o mine, with both mines forming part of the Santa Elena operation. During the three and nine months ended September 30, 2025, the Company incurred $nil and $1.8 million (September&#160;30, 2024 - $0.8 and $2.7 million) in holding costs relating to care and maintenance charges for the Santa Elena mine. </font></div><div style="margin-top:5pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_82"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">10.  INVESTMENT AND OTHER INCOME (LOSS)</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s investment and other income (loss) are comprised of the following&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.253%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.346%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.489%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.372%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.346%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.349%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Loss) from investment in silver futures derivatives</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($11,219)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($1,288)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($12,931)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($1,036)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gain from investment in marketable securities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14</a>(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">) </font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,893&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">108&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,161&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">205&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest income and other</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,908&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,708&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,191&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,917&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($5,418)</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$528</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,421</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,086</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:5pt"><font><br></font></div><div style="margin-top:5pt"><font><br></font></div><div style="margin-top:5pt"><font><br></font></div><div style="margin-top:5pt"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 21</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_85"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">11.  FINANCE COSTS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finance costs are primarily related to interest and accretion expense on the Company&#8217;s debt facilities, lease liabilities and accretion of decommissioning liabilities. The Company&#8217;s finance costs in the periods are summarized as follows&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.624%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> (Note </font><font style="color:#3051f2;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#3051f2;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,131&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,214&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$9,261&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10,065&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,783&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,403&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,313&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,208&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities (Note </font><font style="color:#3051f2;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_130" style="color:#3051f2;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">21</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">444&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">537&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,357&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,775&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest and other</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">753&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">704&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,941&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,229&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$7,111</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,858</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$21,872</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$21,277</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) During the three and nine months ended September 30, 2025, finance costs for debt facilities includes non-cash accretion expense of $2.6 and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$7.8 million (September&#160;30, 2024 -  $2.5 and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">$7.5 million).</font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_88"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">12.  EARNINGS OR LOSS PER SHARE</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic earnings or loss per share is the net earnings (loss) attributable to owners of the Company divided by the weighted average number of common shares outstanding during the periods. Diluted net earnings or loss per share adjusts basic net earnings or loss per share for the effects of potential dilutive common shares. The calculations of basic and diluted earnings or loss per share for the periods ended September&#160;30, 2025 and 2024 are as follows&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.952%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.625%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net earnings (loss) for the year</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$42,962&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($26,593)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$105,781&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($88,407)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net earnings attributable to non-controlling interests</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,984&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$23,991&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) attributable to owners of the Company</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$26,978</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($26,593)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$81,790</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,407)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Weighted average number of shares on issue - basic</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">488,722,642&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">301,000,656&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">475,754,745&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">293,440,674&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Effect on dilutive securities&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Stock options</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,899,657&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,936,107&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restricted, performance and deferred share units</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,075,145&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,124,325&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted average number of shares on issue - diluted</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">492,697,444</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">301,000,656</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">479,815,177</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">293,440,674</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per share - basic</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.06</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.09)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.18</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.30)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per share - diluted</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.06</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.09)</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.18</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.30)</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:4.61pt">For the three and nine months ended September 30, 2025, diluted weighted average number of shares excluded 3,511,118</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,083,912 (September&#160;30, 2024 - 7,945,697</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,570,095) options, 5,000,000 (September&#160;30, 2024 - 5,000,000) warrants, 2,329 and 2,599 restricted and performance share units (September&#160;30, 2024 - 2,479,598) and 13,888,895 common shares issuable under the 2021 convertible debentures (September&#160;30, 2024 - 13,888,895) (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline">20(a)</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) that were anti-dilutive.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 22</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_94"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">13.  INVENTORIES</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories consist primarily of materials and supplies and products of the Company&#8217;s operations, in varying stages of the production process, and are presented at the lower of weighted average cost or net realizable value. </font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30,<br>2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finished goods</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14,264&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$5,036&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Work-in-process</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,350&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,162&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Stockpile</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,895&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,580&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver coins and bullion</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,813&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,613&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Materials and supplies</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,910&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38,133&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$96,232</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$62,524</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of inventories recognized as an expense during the period is equivalent to the total of cost of sales plus depletion, depreciation and amortization for the period. As at September&#160;30, 2025, no write down was included in mineral inventories, which consist of stockpile, work-in-process and finished goods (December 31, 2024 - $nil).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_97"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">14.  OTHER FINANCIAL ASSETS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, other financial assets consist of the Company&#8217;s investment in marketable securities comprised of the following&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30,<br>2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2024</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FVTPL marketable securities (a)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$7,724&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,283&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FVTOCI marketable securities (b)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">132,127&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48,498&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total other financial assets</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$139,851</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$49,781</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:5pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Fair Value through Profit or Loss (&#34;FVTPL&#34;) Marketable Securities</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gain on marketable securities designated as FVTPL for the three and nine months ended September 30, 2025 was $2.9 and $4.2 million (September&#160;30, 2024 - gain of $0.1 and $0.2&#160;million) and was recorded through profit or loss.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)   Fair Value through Other Comprehensive Income (&#34;FVTOCI&#34;) Marketable Securities</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in fair value of marketable securities designated as FVTOCI for the three and nine months ended September&#160;30, 2025 was a gain of $56.6 million and $84.9&#160;million (September 30, 2024 - gain of $5.8 and $7.7 million), net of tax, and were recorded through other comprehensive income and will not be transferred into earnings or loss upon disposition or impairment. The Company made the irrevocable election to designate these equity securities as FVTOCI because these financial assets are not held for trading and are not contingent consideration recognized in a business combination. As at September&#160;30, 2025, the carrying value of all shares designated at FVTOCI was $132.1 million (December 2024 - $48.5 million).</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 23</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_103"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">15.  MINING INTERESTS</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mining interests primarily consist of acquisition, development, exploration and exploration potential costs directly related to the Company&#8217;s operations and projects. Upon commencement of commercial production, mining interests for producing properties are depleted on a units-of-production basis over the estimated economic life of the mine. In applying the units of production method, depletion is determined using quantity of material extracted from the mine in the period as a portion of total quantity of material, based on reserves and resources, considered to be highly probable to be economically extracted over the life of mine plan.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s mining interests are comprised of the following&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30,<br>2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletable properties</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,867,925&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$779,890&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-depletable properties (exploration and evaluation costs, exploration potential)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">806,990&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">254,632&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,674,915</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,034,522</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depletable properties are allocated as follows&#58;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.455%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.133%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.121%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Depletable properties</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Los Gatos</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font 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colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$183,123</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 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0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$212,990</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,377,129</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,599&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29,628&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,927&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">54,154&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Change in decommissioning liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,302)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,346)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,362)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">6,165&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,100)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(945)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfer from non-depletable properties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,179&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,702&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,881&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$205,599</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$392,754</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$132,146</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$492,830</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$210,889</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,434,218</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10,171&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25,119&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19,766&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,005&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">59,061&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Acquisition of Gatos (Note</font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,122,262&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,122,262&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfer from non-depletable properties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">35,393&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,386&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,202&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">40,981&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$251,163</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,147,381</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$416,906</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$137,353</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$492,830</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$210,889</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$2,656,522</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Accumulated depletion, amortization and impairment </font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($60,000)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($137,530)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($106,698)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($136,161)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($150,424)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($590,813)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depletion and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(23,866)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(33,567)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6,082)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(63,515)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($83,866)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($171,097)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($112,780)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($136,161)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($150,424)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($654,328)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depletion and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17,064)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(85,806)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(27,371)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,028)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(134,270)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($100,930)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($85,806)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($198,468)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($116,808)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($136,161)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($150,424)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($788,598)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Carrying values</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$121,733</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$221,657</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$19,366</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$356,669</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$60,466</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$779,890</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$150,233</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,061,574</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$218,438</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$20,545</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$356,669</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$60,465</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,867,925</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Non-producing properties include the San Martin and Del Toro mines.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 24</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">15.  MINING INTERESTS (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-depletable properties costs are allocated as follows&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.128%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.402%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.402%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.660%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Non-depletable</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">properties</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Santa</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Elena</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Los Gatos</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Non-producing</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Properties</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Exploration Projects</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Springpole<br>Stream</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$50,483</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$24,696</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$4,461</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$82,645</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$14,404</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$23,973</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$11,856</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$212,519</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Exploration and evaluation expenditures</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18,725&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,022&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,953&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,472&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">471&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">351&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">45,994&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfer to depletable properties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,179)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,702)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,881)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$67,029</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$40,718</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$4,712</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$91,117</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$14,875</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$24,324</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$11,856</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$254,632</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Exploration and evaluation expenditures</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,482&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,505&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,460&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,817&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,673&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">450&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">373&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,153&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">56,913&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Acquisition of Gatos (Note</font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">536,427&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">536,427&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfer to depletable properties</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(35,393)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,386)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,202)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(40,981)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$53,118</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$545,932</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$49,792</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$5,327</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$96,790</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$15,325</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$24,697</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$16,009</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$806,990</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Non-producing properties include the San Martin and Del Toro mines.</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Exploration projects include the La Luz, Los Amoles, Jalisco Group of Properties and Jimenez del Tuel projects. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Santa Elena Silver&#47;Gold Mine, Sonora State, Mexico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Santa Elena Mine is subject to a gold streaming agreement with Sandstorm, which requires the mine to sell 20% of its life of mine gold production from its leach pad and underground operations of the Santa Elena mine to Sandstorm. The selling price to Sandstorm is currently the lesser of $450 per ounce, subject to a 1% annual inflation increase every April, and the prevailing market price.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Ermita&#241;o mine has a net smelter return (&#34;NSR&#34;) royalty agreement with Orogen Royalties Inc. that provides them with a 2% NSR royalty of production. In addition, there is an underlying NSR royalty where Osisko Gold Royalties Ltd. retains a 2% NSR royalty from the sale of mineral products extracted from the Ermita&#241;o property. During the three and nine months ended September 30, 2025, </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Company has </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">incurred $3.4 and $9.3 million (September&#160;30, 2024 - $3.0 and $7.9 million) in NSR royal</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ty payments in connection with production from Ermita&#241;o.</font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">        (b)   Los Gatos Silver Mine, Chihuahua State, Mexico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the acquisition, the Company now holds a 70% interest in the Los Gatos underground mine in Chihuahua, Mexico. The remaining 30% is owned by a non-controlling partner. The Los Gatos Silver Mine produces zinc and lead concentrates, both of which contain payable silver, as well as gold in its concentrate form. Zinc and lead contribute approximately 75% and 25% of total revenues, respectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Los Gatos Silver Mine is subject to the terms of an exploration, exploitation and unilateral promise of assignment of rights agreement with La Cuesta International S.A. de C.V. (&#34;La Cuesta&#34;) dated May 4, 2006. The Los Gatos Silver Mine is required to pay a production royalty to La Cuesta of a) 2% net smelter return on production from the concession until all payments reach $10 million and b) 0.5% net smelter return on production from the concession after total payments have reached $10 million and c) 0.5% net smelter return on production from other property within a one-kilometer boundary of the Los Gatos Silver Mine. The agreement has no expiration date&#59; however, Gatos may terminate the agreement upon a 30-day notice. During the three and nine months ended September 30, 2025, the Company has incurred $0.1 million and $0.7 million (September&#160;30, 2024 - $nil) in NSR royalty payments in connection with production from Los Gatos.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 25</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">15.  MINING INTERESTS (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   San Dimas Silver&#47;Gold Mine, Durango State, Mexico (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The San Dimas Mine is subject to a gold and silver streaming agreement with WPMI which entitles WPMI to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1 gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment commencing in May 2019) and the prevailing market price for each gold ounce delivered. Should the average gold to silver ratio over a six-month period exceed 90&#58;1 or fall below 50&#58;1, the fixed exchange ratio would be increased to 90&#58;1 or decreased to 50&#58;1, respectively. The fixed gold to silver exchange ratio as of September&#160;30, 2025, was 90&#58;1. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and nine months ended September&#160;30, 2025, the Company delivered 7,235 and 22,853 ounces (September&#160;30, 2024 - 7,022 and 21,756 ounces) of gold to WPMI at $643 and $640 per ounce (September&#160;30, 2024 - $637 and $634 per ounce).  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(d)   La Encantada Silver Mine, Coahuila State, Mexico</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022, the Company sold a portfolio of its existing royalty interests to Metalla Royalty and Streaming Limited. Under the terms of the agreement, the Company is required to pay a 100% gross value royalty on the first 1,000 ounces of gold produced annually from the La Encantada property. For the three and nine months ended September 30, 2025, the Company has incurred $0.1 million and $0.2 million (September&#160;30, 2024 - $0.1 million and $0.3 million) in royalty payments from gold production at La Encantada.</font></div><div style="padding-left:18pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(e)   Jerritt Canyon Gold Mine, Nevada, United States</font></div><div style="padding-left:18pt;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Jerritt Canyon Mine is subject to a 0.75% NSR royalty on production of gold and silver from the Jerritt Canyon mines and processing plant. The royalty is applied, at a fixed rate of 0.75%, against proceeds from gold and silver products after deducting treatment, refining, transportation, insurance, taxes and levies charges.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Jerritt Canyon Mine is also subject to a 2.5% to 5% NSR royalty relating to the production of gold and silver within specific boundary lines at certain mining areas. The royalty is applied, at a fixed rate of 2.5% to 5.0%, against proceeds from gold and silver products. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the  three and nine months ended September 30, 2025, the Company has incurred $nil in royalty payments from gold production at Jerritt Canyon (September&#160;30, 2024 - $nil). </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(f)   Springpole Silver Stream, Ontario, Canada </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In July 2020, the Company completed an agreement with First Mining Gold Corp. (&#8220;First Mining&#8221;) to purchase 50% of the life-of-mine payable silver produced from the Springpole Gold Project (the &#8220;Springpole Silver Stream&#8221;), a development-stage gold project located in Ontario, Canada. First Majestic agreed to pay First Mining consideration of $22.5 million in cash and shares, in three milestone payments, for the right to purchase silver at a price of 33% of the silver spot price per ounce, to a maximum of $7.50 per ounce (subject to annual inflation escalation of 2%, commencing at the start of the third anniversary of production). Commencing its production of silver, First Mining must deliver 50% of the payable silver which it receives from the off taker within five business days of the end of each quarter. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transaction consideration paid and payable by First Majestic is summarized as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The first payment of $10.0 million, consisting of $2.5&#160;million in cash and $7.5 million in First Majestic common shares (805,698 common shares), was paid to First Mining on July 2, 2020&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The second payment of $7.5 million, consisting of $3.75 million in cash and $3.75 million in First Majestic common shares (287,300 common shares), was paid on January 21, 2021 upon the completion and public announcement by First Mining of the results of a Pre-Feasibility Study for Springpole&#59; and</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:13.02pt">The third payment of $5.0 million was originally scheduled to be made as a combination of cash and First Majestic common shares. On March 13, 2025, the Company signed an amendment agreement (the &#8220;Amended Springpole Stream Agreement&#8221;) to the original streaming agreement for the Springpole property (the &#8220;Springpole Stream Agreement&#8221;) among the Company, Gold Canyon Resources Inc. (a wholly-owned subsidiary of First Mining) and First Mining to accelerate the final tranche payment owed by the Company under the Springpole Stream Agreement, such </font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 26</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">15.  MINING INTERESTS (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(f)   Springpole Silver Stream, Ontario, Canada (continued)</font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">that it will now be a cash-only payment of $5 million (previously, this final payment was to be a combination of cash and Common Shares), payable by the Company by March 31, 2025. This payment has since been completed.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Springpole Stream Agreement, First Mining also granted First Majestic 30.0 million common share purchase warrants of First Mining (the &#8220;First Mining Warrants&#8221;), each of which will entitle the Company to purchase one common share of First Mining at CAD$0.40 expiring July 2, 2025. The fair value of the warrants was measured at $5.7 million using the Black-Scholes option pricing model. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the March 13, 2025 Amended Springpole Stream Agreement, First Mining agreed to extend the expiry date of the First Mining Warrants to March 31, 2028 and to amend the exercise price to CAD$0.20. The fair value of the warrants was measured at $0.8 million using the Black-Scholes option pricing model. Additionally, if the closing price of First Mining&#8217;s common shares on the TSX equals or exceeds CAD$0.30 for 45 consecutive trading days, First Mining may accelerate the expiry date of the common share purchase warrants to the date which is 30 days following the dissemination of a news release announcing the acceleration.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Mining has the right to repurchase 50% of the silver stream from First Majestic for $22.5 million at any time prior to the commencement of production at Springpole, and if such a repurchase takes place, the Company will be left with a reduced silver stream of 25% of life-of-mine payable silver production from Springpole. First Mining is a related party with two independent board members who are also directors and&#47;or officers of First Majestic.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 27</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_106"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">16.  PROPERTY, PLANT AND EQUIPMENT</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The majority of the Company's property, plant and equipment is used in the Company's operating mine segments. Property, plant and equipment is depreciated using either the straight-line or units-of-production method over the shorter of the estimated useful life of the asset or the expected life of mine. Where an item of property, plant and equipment comprises of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment. Assets under construction are recorded at cost and re-allocated to land and buildings, machinery and equipment or other when they become available for use. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property,&#160;plant&#160;and&#160;equipment&#160;are&#160;comprised&#160;of&#160;the&#160;following&#58;&#160;</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:40.334%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.888%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Land and Buildings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Machinery and Equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Assets under Construction</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$245,260</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$641,029</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$48,738</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$38,445</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$973,472</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">381&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,370&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24,281&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">149&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27,180&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,173&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,042&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(29,697)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,529&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(10,953)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$257,814</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$648,441</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$43,322</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$40,122</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$989,699</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,427&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,807&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">32,351&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">454&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">43,039&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Acquisition of Gatos (Note</font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">103,465&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">71,951&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,493&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">352&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">185,261&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,417&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">7,083&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(14,463)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">136&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,827)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$366,123</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$736,282</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$70,703</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$41,064</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,214,172</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="12" style="background-color:#cfdbff;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Accumulated depreciation, amortization and impairment reversal</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($157,626)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($382,139)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($27,413)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($567,178)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(16,720)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(28,282)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,251)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(48,253)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,431&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,597&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">334&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,362&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($172,915)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($407,824)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($30,330)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($611,069)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19,520)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(29,128)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,328)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(50,976)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,835&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">43&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,882&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($192,431)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($435,117)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($32,615)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($660,163)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Carrying values</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$84,899</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$240,617</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$43,322</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$9,792</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$378,630</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$173,692</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$301,165</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$70,703</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid 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style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Assets under construction includes certain innovation projects, such as high-intensity grinding (&#34;HIG&#34;) mills and related modernization, plant improvements, other mine infrastructures and equipment overhauls.</font></div><div style="padding-left:13.5pt;text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 28</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">16.  PROPERTY, PLANT AND EQUIPMENT (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment, including land and buildings, machinery and equipment, assets under construction and other assets above are allocated by mine as follow&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.799%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.188%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$180,128</font><font 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$163,498</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$61,071</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$973,472</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,251&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">8,486&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,995&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,689&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">69&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,690&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27,180&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,507)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">255&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(457)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,622)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,211)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(5,411)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(10,953)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$186,872</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$192,112</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$172,274</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$217,735</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$162,356</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$58,350</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$989,699</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Additions</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,054&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16,926&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,621&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,563&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,888&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">517&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,470&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">43,039&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Acquisition of Gatos (Note</font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%"> </font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">185,261&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">185,261&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,809)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(339)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(690)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">590&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(195)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(431)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(953)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(3,827)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$194,117</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$201,848</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$201,043</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$176,427</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$219,428</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$162,442</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$58,867</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,214,172</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="12" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Accumulated depreciation, amortization and impairment</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($81,615)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($86,259)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($138,721)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($82,697)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($145,887)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($31,999)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($567,178)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(16,314)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(16,268)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(7,190)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(6,257)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(92)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(2,130)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(48,253)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,387&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">518&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,171&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">275&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">659&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">353&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">4,362&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($96,542)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($102,009)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($144,740)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($88,679)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($145,320)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($33,779)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($611,069)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(10,115)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(19,964)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(12,534)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(4,850)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,985)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(17)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(1,511)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(50,976)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Transfers and disposals</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,294&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(84)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">603&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(411)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">35&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">320&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">125&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,882&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($105,363)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($20,048)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($113,940)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($150,001)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($90,629)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($145,017)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($35,165)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($660,163)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Carrying values</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$90,329</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$90,103</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$27,534</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$129,057</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$17,036</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$24,571</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$378,630</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid 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style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$87,103</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$26,426</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$128,799</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$17,425</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$23,702</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$554,009</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Non-producing properties include the San Martin and Del Toro mines.</font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Additions classified in &#34;Other&#34; primarily consist of innovation projects and construction-in-progress.</font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) Included in &#34;Other&#34; is property, plant and equipment of $4.7 million (2024 - $4.6 million) for First Mint which includes the Company's bullion store and its minting facility located in Nevada.</font></div><div><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 29</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_109"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">17.  RIGHT-OF-USE ASSETS</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company entered into leases to use certain land, buildings, mining equipment and corporate equipment for its operations. The Company is required to recognize right-of-use assets representing its right to use these underlying leased assets over the lease term. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Right-of-use assets are initially measured at cost, equivalent to its obligation for payments over the term of the leases, and subsequently measured at cost less accumulated depreciation and impairment losses. Depreciation is recorded on a straight-line basis over the shorter period of lease term and useful life of the underlying asset. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Right-of-use assets&#160;are&#160;comprised&#160;of&#160;the&#160;following&#58;&#160;</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"><tr><td style="width:1.0%"></td><td style="width:48.678%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.363%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.538%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.671%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.538%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.538%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.674%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Land and <br>Buildings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Machinery and Equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2023</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$8,523</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,761</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$27,284</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">299&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,693&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,992&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">236&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">921&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,157&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,012)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,522)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,534)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At December 31, 2024</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$7,046</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$16,853</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$23,898</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition of Gatos </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">(Note 4)</a></font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">281&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">281&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">181&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">185&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">366&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(216)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,816&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,600&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,555)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,222)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,777)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">At September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$5,737</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$12,632</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,369</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 30</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_118"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">18.  RESTRICTED CASH</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restricted cash is comprised of the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30,<br>2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2024</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Nevada Division of Environmental Protection</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$19,975&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$19,346&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">SAT Primero tax dispute</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">113,441&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">86,726&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-Current Restricted Cash</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$133,416</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$106,072</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) On November 2, 2021, the Company executed an agreement with the Nevada Division of Environmental Protection (&#34;NDEP&#34;) relating to funds required to establish a trust agreement to cover post-closure water treatment cost at Jerritt Canyon. During the year ended December 31, 2022, the Company funded $17.7 million into a trust&#59; these amounts along with interest earned on the balance are included within non-current restricted cash. </font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) In connection with the dispute between Primero Empresa Minera, S.A. de C.V. (&#34;PEM&#34;) and the Servicio de Admistracion Tributaria (&#34;SAT&#34;) relating to the advanced pricing agreement (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_154" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline">26</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">), the SAT froze a PEM bank account as security for certain tax reassessments which are being disputed. The balance in this frozen account as at September&#160;30, 2025 was $113.4 million (2,085 million MXN). This balance consists of Value Added Tax (&#34;VAT&#34;) refunds due to PEM. The Company does not agree with SAT's position and has challenged it through the relevant legal channels, both domestically and internationally. </font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify;text-indent:4.5pt"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_121"></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">19.  TRADE AND OTHER PAYABLES</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s trade and other payables are primarily comprised of amounts outstanding for purchases relating to mining operations, exploration and evaluation activities and corporate expenses. The normal credit period for these purchases is usually between 30 to 90 days.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Trade and other payables are comprised of the following items&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30,<br>2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$52,697&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$35,397&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade related accruals</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57,823&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,196&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payroll and related benefits</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48,430&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,239&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restructuring obligations</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">641&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">709&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NSR royalty liabilities (Notes </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_103" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">15(b)(c)</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,495&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,538&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Environmental duty and net mineral sales proceeds tax</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,376&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,701&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other accrued liabilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,163&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,115&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$188,625</font><font style="color:#0a2299;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$103,895</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="margin-top:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:107%">(1) The Other accrued liabilities balance as at September&#160;30, 2025 includes an accrual of $13.2 million for mark-to-market movements on silver futures derivatives.</font></div><div style="margin-top:3pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 31</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_127"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:3pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">20.  DEBT FACILITIES</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in debt facilities during the nine months ended September 30, 2025 and year ended December 31, 2024, respectively, are comprised of the following&#58;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:61.803%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.190%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.216%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.192%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Convertible Debentures<br>(a)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revolving Credit Facility <br>(b)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2023</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$199,406</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$20,406</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$219,812</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">863&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,619&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,482&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,679&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,679&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of principal</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(20,000)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(20,000)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of finance costs</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(865)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,626)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,491)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2024</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$209,083</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$399</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$209,482</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">632&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,066&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,698&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,563&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,563&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of finance costs</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(862)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,128)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,990)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at September 30, 2025</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$216,416</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$337</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$216,753</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Financial Position Presentation</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of debt facilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$426&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$399&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$825&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of debt facilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">208,657&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">208,657&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2024</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$209,083</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$399</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$209,482</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of debt facilities</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$196&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$337&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$533&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of debt facilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">216,220&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">216,220&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at September 30, 2025</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$216,416</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$337</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$216,753</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Convertible Debentures</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Senior Convertible Debentures</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 2, 2021, the Company issued $230 million of unsecured senior convertible debentures (the &#8220;Notes&#8221;). The Company received net proceeds of $222.8 million after transaction costs of $7.2 million. The Notes mature on January 15, 2027 and bear an interest rate of 0.375% per annum, payable semi-annually in arrears in January and July of each year. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Notes are convertible into common shares of the Company at any time prior to maturity at a conversion rate of 60.3865 common shares per $1,000 principal amount of Notes converted, representing an initial conversion price of $16.56 per common share, subject to certain anti-dilution adjustments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company may not redeem the Notes before January 20, 2025 except in the event of certain changes in Canadian tax law. At any time on or after January 20, 2025 and until maturity, the Company may redeem all or part of the Notes for cash if the last reported share price of the Company&#8217;s common shares for 20 or more trading days in a period of 30 consecutive trading days exceeds 130% of the conversion price in effect on each such trading day. The redemption price is equal to the sum of&#58;     (i) 100% of the principal amount of the Notes to be redeemed and (ii) accrued and unpaid interest, if any, to the redemption date. </font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 32</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">20.  DEBT FACILITIES (continued)</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Senior Convertible Debentures (continued)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is required to offer to purchase for cash all of the outstanding Notes upon a fundamental change, at a cash purchase price equal to 100% of the principal amount of the Notes to be purchased, plus accrued and unpaid interest, if any, up to the fundamental change purchase date. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The component parts of the convertible debentures, a compound instrument, are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. A conversion option that will be settled by the exchange of a fixed amount of cash or another financial asset for a fixed number of the Company's own equity instrument is an equity instrument.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At initial recognition, net proceeds of $222.8 million from the Notes were allocated into its debt and equity components. The fair value of the debt portion was estimated at $180.4 million using a discounted cash flow model method with an expected life of five years and a discount rate of 4.75%. This amount is recorded as a financial liability on an amortized cost basis using the effective interest method at an effective interest rate of 5.09% until extinguished upon conversion or at its maturity date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The conversion option is classified as equity and was estimated based on the residual value of $42.3 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves. Deferred tax liability of $11.4 million related to taxable temporary difference arising from the equity portion of the convertible debenture was recognized in equity reserves. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transaction costs of $7.2 million that relate to the issuance of the convertible debentures were allocated to the liability and equity components in proportion to the allocation of the gross proceeds. Transaction costs relating to the equity component are recognized directly in equity. Transaction costs relating to the liability component are included in the carrying amount of the liability component and are amortized over the life of the convertible debentures using the effective interest method.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) &#160;&#160;&#160;&#160;Revolving Credit Facility</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 28, 2024, the Company amended its senior secured revolving credit facility (the &#34;Revolving Credit Facility&#34;) with the Bank of Montreal, BMO Harris Bank N.A., Bank of Nova Scotia, Toronto Dominion Bank and National Bank of Canada (the &#34;syndicate&#34;) to amend the definition of indebtedness to exclude surety bonds, and to adjust the leverage covenant threshold from 3.00&#58;1.00 (gross) to a 3.50&#58;1.00 (net) leverage ratio. On April 11, 2025, the Revolving Credit Facility was further amended to extend the maturity date to April 11, 2028. The credit limit remains at $175.0 million. The amendment also incorporated Gatos Silver Inc. into the facility as a material subsidiary and guarantor, and included an accordion feature of $100 million, which may be activated at the Company&#8217;s discretion, subject to lender approval. Interest on the drawn balance will accrue at the Secured Overnight Financing Rate (&#34;SOFR&#34;) plus an applicable range of 2.00% to 3.25% per annum while the undrawn portion is subject to a standby fee with an applicable range of 0.45% to 0.73% per annum, dependent on certain financial parameters of First Majestic. As at September&#160;30, 2025, the applicable rates were 2.00% and 0.45% per annum, respectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These debt facilities are guaranteed by certain subsidiaries of the Company and are also secured by a first priority charge against the assets of the Company, and a first priority pledge of shares of the Company&#8217;s subsidiaries.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Revolving Credit Facility includes financial covenants, to be tested quarterly on a consolidated basis, requiring First Majestic to maintain the following&#58; (a) a net leverage ratio based on net indebtedness to rolling four quarters adjusted EBITDA of not more than 3.50 to 1.00&#59; and (b) an interest coverage ratio, based on rolling four quarters adjusted EBITDA divided by interest payments, of not less than 4.00 to 1.00. The debt facilities also provide for negative covenants customary for these types of facilities and allows the Company to enter into finance leases, excluding any leases that would have been classified as operating leases in effect immediately prior to the implementation of IFRS 16 - Leases, of up to $50.0 million. As at September&#160;30, 2025, the Company was in compliance with all of its debt covenants.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September&#160;30, 2025, the Company had letters of credit outstanding in the amount of $35.4 million (December 2024 - $35.4 million) as part of ongoing reclamation and mine closure obligations. As at September&#160;30, 2025 the undrawn portion of the Revolving Credit Facility net of the letters of credit and drawdowns is $139.6&#160;million (December 2024 - $139.6 million). </font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 33</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_130"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">21.  LEASE LIABILITIES</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has Category I leases, Category II leases and equipment financing liabilities for various mine and plant equipment, office space and land. Category I leases and equipment financing obligations require underlying assets to be pledged as security against the obligations and all of the risks and rewards incidental to ownership of the underlying asset being transferred to the Company. For Category II leases, the Company controls but does not have ownership of the underlying right-of-use assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's incremental borrowing rate. Lease liabilities are subsequently measured at amortized cost using the effective interest rate method. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain lease agreements may contain lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as vehicles, the Company has elected to account for the lease and non-lease components as a single lease component. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in lease liabilities during the periods ended September&#160;30, 2025 and December 31, 2024 are comprised of the following&#58;</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:52.497%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.877%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.877%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.534%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:13.881%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Category I Leases</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:700;line-height:110%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Category II Leases</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:700;line-height:110%;position:relative;top:-3.5pt;vertical-align:baseline">(b)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2023</font></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$4,671</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$32,031</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$36,702</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,110&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,992&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,102&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,157&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,157&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">209&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,067&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,276&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of principal</font></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,119)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,152)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(17,271)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of finance costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(209)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,053)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,262)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange</font></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,169)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,169)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2024</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,662</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$24,873</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$27,535</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition of Gatos (Note</font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_55" style="color:#0e32e1;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">415&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">415&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">635&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">185&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">820&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements</font></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,600&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,600&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,242&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,357&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayment of principal</font></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,664)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,192)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13,856)</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of finance costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(38)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,225)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,263)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign Exchange</font></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">812&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">812&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at September 30, 2025</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,710</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,710</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$20,420</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Statements of Financial Position Presentation</font></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,857&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14,358&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$16,215&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of lease liabilities</font></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">805&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,515&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,320&#160;</font></td><td style="background-color:#cedaff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2024</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,662</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$24,873</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$27,535</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current portion of lease liabilities</font></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,252&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$12,606&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$13,858&#160;</font></td><td style="background-color:#cedaff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current portion of lease liabilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">458&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,104&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,562&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at September 30, 2025</font></td><td colspan="2" style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,710</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$18,710</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$20,420</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cedaff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 34</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">21.  LEASE LIABILITIES (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a) Category I leases</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Category I leases primarily relate to financing arrangements entered into for the rental of vehicles and equipment. These leases have remaining lease terms of one to three years, some of which include options to terminate the leases within a year, with incremental borrowing rates ranging from 3.8% to 8.5% per annum</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) Category II leases</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Category II leases primarily relate to equipment and building rental contracts, land easement contracts and service contracts that contain embedded leases for property, plant and equipment. These leases have remaining lease terms of one to seven years, some of which include options to terminate the leases within a year, with incremental borrowing rates ranging from 4.5% to 11.8% per annum</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 35</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_142"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  SHARE CAPITAL</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.85pt">Authorized and issued capital</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has unlimited authorized common shares with no par value. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in the Company&#8217;s issued and outstanding capital during the periods is summarized in the consolidated statements of changes in equity.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company files prospectus supplements to its short form base shelf prospectus, pursuant to which the Company may, at its discretion and from time-to-time, sell common shares of the Company. The sale of common shares has taken place through &#34;at-the-market&#34; (&#34;ATM&#34;) distributions&#34;, as defined in National Instrument 44-102 Shelf Distributions, directly on the New York Stock Exchange.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 22, 2024, the Company entered into an equity distribution agreement with BMO Capital Markets Corp. and TD Securities (USA) LLC (collectively, the &#34;Agents&#34;) and filed a prospectus supplement to its short form base shelf prospectus dated August 3, 2023, pursuant to which the Company may, at its discretion and from time-to-time sell through the Agents, common shares of the Company for aggregate gross proceeds of up to $150.0 million through an ATM program (the &#34;2024 ATM Program&#34;). During the nine months ended September 30, 2025, no shares were sold under the 2024 ATM Program. During the nine months ended September&#160;30, 2025, the Company incurred $nil (September 30, 2024 - $2.3 million) in transaction costs in relation to the 2024 ATM Program, this program expired on September 3, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 24, 2025, the Company filed and obtained a receipt for a final short form base shelf prospectus in each province of Canada (other than Qu&#233;bec), and a registration statement on Form F-10 in the United States, which will allow the Company to undertake offerings (including by way of &#8220;at-the-market distributions&#8221;) under one or more prospectus supplements of various securities listed in the shelf prospectus over a 25-month period commencing as of the date of the receipt of the base shelf prospectus. During the third quarter, no shares were issued under this program.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 12, 2024 the Company renewed its ongoing share repurchase program (the &#8220;Share Repurchase Program&#8221;) which permitted it to repurchase up to 10,000,000 shares (3.32% of the Company's issued and outstanding shares as at September 4, 2024) until September 11, 2025. The Share Repurchase Program is a &#8220;normal course issuer bid&#8221; and will be carried out through the facilities of the Toronto Stock Exchange and alternative Canadian marketplaces. All common shares, if any, purchased pursuant to the Share Repurchase Program will be cancelled. The Company believes that from time to time, the market price of its common shares may not fully reflect the underlying value of the Company's business and its future business prospects. The Company believes that at such times, the purchase of common shares would be in the best interest of the Company. During the nine months ended September 30, 2025, the Company repurchased a total of 768,500 common shares at an average price of CAD$7.90 per share under its Share Repurchase Program, resulting in total payments of $4.3 million, net of transaction costs (September 30, 2024 &#8211; $nil). No shares were repurchased during the three months ended September 30, 2025. (September 30, 2024 &#8211; $nil). The Share Repurchase Program expired on September 11, 2025, and was renewed by the Company on October 14, 2025. Under the renewed Share Repurchase Program, the Company may repurchase up to 24.5 million common shares (5% of the Company&#8217;s issued and outstanding common shares as at September 30, 2025), and the program expires on October 13, 2026.</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 36</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.42pt">Stock options </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 26, 2022, the Company&#8217;s shareholders approved a new Long-Term Incentive Plan (the &#8220;2022 LTIP&#8221;). Under the terms of the 2022 LTIP, the maximum number of common shares of the Company reserved for issuance in respect of awards granted under the plan, together with any other security-based arrangements of the Company, cannot exceed 6% of the Company&#8217;s issued and outstanding shares at the time of granting the award. The Company may grant stock options (&#8220;Options&#8221;) to its directors, employees and consultants under the 2022 LTIP. Options may be granted for a period of time not to exceed ten years from the grant date, and the exercise price of all options will not be lower than the Market Price (as defined in the 2022 LTIP) of the Company&#8217;s common shares as of the grant date. All Options (other than those granted to the Company&#8217;s President &#38; Chief Executive Officer) vest in equal portions over a period of 30 months, with 25% vesting on the first anniversary of the grant date, and an additional 25% vesting each six months thereafter. All Options granted to the President and Chief Executive Officer vest in equal portions over a period of five years, with 20% vesting on the first anniversary of the grant date, and an additional 20% vesting each 12 months thereafter. Any Options granted prior to May 26, 2022 will be governed by the terms of the plan under which they were granted, namely the 2017 Option Plan and the 2019 Long-Term Incentive Plan (the &#8220;2019 LTIP&#8221;), as applicable. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the terms of the Merger Agreement, the Company issued an aggregate of 8,242,244 First Majestic options in exchange for all existing Gatos options at exercise prices adjusted by the Exchange Ratio. These stock options have a contractual term of 10 years from the original grant dates and entitle the holder to purchase shares of the Company&#8217;s common stock. All options (other than those granted to non-employee directors) vest in equal portions over a 3-year period. All options granted to non-employee directors vested immediately on the Acquisition Date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes information about Options outstanding as at September&#160;30, 2025&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.367%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.188%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Options Outstanding</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> &#160;&#160;&#160;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Options Exercisable</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> &#160;&#160;&#160;</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exercise prices (CAD$)</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Remaining Life (Years)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted Average Remaining Life (Years)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.01 - 5.00</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">375,457&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.81&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.87&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">278,117&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.67&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.37&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.01 - 10.00</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,114,055&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.29&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.76&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,085,453&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.30&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.76&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10.01 - 15.00</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,697,060&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.62&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.96&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,893,772&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.92&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.95&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">15.01 - 20.00</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">840,500&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.44&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.25&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">827,700&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.43&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.25&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20.01 - 25.00</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">429,750&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.60&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.27&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">416,950&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.60&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.23&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,456,822&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.91&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.42&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,501,992&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.84&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.08&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 37</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:6.42pt">Stock options (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in Options issued for the nine months ended September&#160;30, 2025 and year ended December 31, 2024 are                            summarized as follows&#58; </font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.473%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.666%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.250%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.666%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="9" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended<br>September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended <br>December 31, 2024</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of<br>Options</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted Average Exercise Price (CAD $&#47;Share)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Balance, beginning of the period</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,929,119&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11.59&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,366,252&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12.32&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,713,324&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.90&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,483,726&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.12&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Replacement options in connection with Gatos acquisition</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,242,244&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5.08&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Exercised</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(8,781,754)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5.88&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(20,625)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.89&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Cancelled or expired </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(646,111)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.03&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(900,234)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11.89&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Balance, end of the period</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">8,456,822</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">10.91</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">7,929,119</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">11.59</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-top:5pt;padding-left:18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, the aggregate fair value of Options granted was $5.6 million (December 31, 2024 - $4.1&#160;million), or a weighted average fair value of $3.27 per Option granted (December 31, 2024 - $2.77).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, total share-based payments expense related to Options was $5.2&#160;million (September&#160;30, 2024 - $4.1 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following weighted average assumptions were used in estimating the fair value of Options granted using the Black-Scholes Option Pricing Model&#58;</font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:24.192%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.151%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.302%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended<br>September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Year Ended</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Assumption</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Based</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">on</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December 31, 2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Risk-free interest rate (%)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Yield curves on Canadian government zero- coupon bonds with a remaining term equal to the stock options&#8217; expected life</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1.97</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.48</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected life (years)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Weighted average life of previously transacted awards</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.07</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.04</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected volatility (%)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Historical volatility of the Company's stock</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">57.78</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">58.00</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected dividend yield (%)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Annualized dividend rate as of the date of grant</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">0.26%</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">0.28%</font></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The weighted average closing price of the Company's common shares at date of exercise for the nine months ended September&#160;30, 2025 was CAD$10.91 (December&#160;31, 2024 - CAD$10.53).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 38</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)    Restricted Share Units </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the 2022 LTIP, the Company may award to its directors, employees and consultants non-transferable Restricted Share Units (&#34;RSUs&#34;) based on the Company's share price at the date of grant. Unless otherwise stated, the awards typically have a graded vesting schedule over a three-year period and can be settled either in cash or equity upon vesting at the discretion of the Company.  Any RSUs granted prior to May 26, 2022 continue to be governed by the terms of the prior 2019 LTIP. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, a total of 1,094,157 RSUs were awarded by the Company to directors and employees under the 2022 LTIP, of which 232,157 RSUs may only be settled in cash resulting in a total expense of $2.2 million (September&#160;30, 2024 - $0.6 million). As at September&#160;30, 2025, there were a total of 357,247 RSUs outstanding that may only be settled in cash, with a total liability of $2.5 million (December&#160;31, 2024 - $0.7 million).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in RSUs intended to be settled in cash for the nine months ended September&#160;30, 2025 and the year ended December&#160;31, 2024&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:54.455%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.718%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.869%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Year Ended </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December&#160;31, 2024</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value <br>(CAD$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value <br>(CAD$)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, beginning of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">228,590&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.98&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">264,280&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.98&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">232,157&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.97&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Settled</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(53,626)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.98&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Forfeited</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(49,874)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.15&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(35,690)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.98&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, end of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">357,247&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.60&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">228,590&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.98&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in RSUs intended to be settled in equity for the nine months ended September&#160;30, 2025 and the year ended December&#160;31, 2024&#58;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:54.455%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.718%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.869%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Year Ended </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December&#160;31, 2024</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value <br>(CAD$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value <br>(CAD$)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, beginning of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,292,598&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.23&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">880,889&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11.91&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">862,000&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.73&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">863,050&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.96&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Settled</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(504,075)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.85&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(374,408)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12.65&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Forfeited</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(131,973)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.66&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(76,933)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.10&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, end of the year</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,518,550&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.79&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,292,598&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.23&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, total share-based payments expense for RSUs that the Company intends to settle in equity was $3.3 million (September&#160;30, 2024  - $4.1 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 39</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(d)   Performance Share Units </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the 2022 LTIP the Company may award to its directors, employees and consultants non-transferable Performance Share Units (&#34;PSUs&#34;). The amount of units to be issued on the vesting date will vary from 0% to 200% of the number of PSUs granted, depending on the Company&#8217;s total shareholder return compared to the return of a selected group of peer companies over a three-year period commencing as of the grant date. Unless otherwise stated, the PSU awards typically vest three years from the grant date and can be settled either in cash or equity upon vesting at the discretion of the Company. The fair value of a PSU is based on the Company's share price at the date of grant and will be adjusted based on the number of common shares actually issuable in respect of the PSU, which shall be determined on the vesting date. Any PSUs granted prior to May 26, 2022 continue to be governed by the terms of the prior 2019 LTIP. </font></div><div style="text-align:justify;text-indent:-18pt"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, a total of 496,697 PSUs were awarded by the Company to employees under the 2022 LTIP, of which 26,840 PSUs may only be settled in cash, resulting in a total expense of $0.2 million (September&#160;30, 2024 - $45.4 thousand). As at September&#160;30, 2025, there were a total of 51,750 PSUs outstanding that may only be settled in cash, with a total liability of $0.3 million (December&#160;31, 2024 - $0.1 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in PSUs intended to be settled in equity granted to employees and consultants for the nine months ended September&#160;30, 2025 and the year ended December&#160;31, 2024&#58;&#160;&#160;&#160;&#160;</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.953%"><tr><td style="width:1.0%"></td><td style="width:52.332%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.094%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.094%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.591%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.094%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.095%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Year Ended </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December&#160;31, 2024</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value<br>(CAD$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value<br>(CAD$)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, beginning of the period</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">949,809&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10.03&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">624,968&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12.86&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">469,857&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.58&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">470,500&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.98&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Settled</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(51,050)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">17.08&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Forfeited</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(290,775)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11.87&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(94,609)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">14.69&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, end of the period</font></td><td colspan="2" style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,128,891&#160;</font></td><td style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.96&#160;</font></td><td style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#d0dcfc;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">949,809&#160;</font></td><td style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10.03&#160;</font></td><td style="background-color:#d0dcfc;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, total share-based payments expense related to PSUs that the Company intends to settle in equity was $1.6 million (September&#160;30, 2024 - $1.6 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 40</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">22.  SHARE CAPITAL (continued)</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(e) &#160;&#160;&#160;&#160;Deferred Share Units </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The terms of the 2019 LTIP permitted the Company to grant to its directors, employees and consultants non-transferable Deferred Share Units (&#34;DSUs&#34;), among other awards. Unless otherwise stated, DSUs awarded under the 2019 LTIP typically vested immediately of the grant date. The fair value of DSUs granted under the 2019 LTIP is based on the Company's share price as at the date of grant. All DSUs awarded by the Company will be settled in common shares of the Company.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in DSUs granted to directors under the 2019 LTIP for the nine months ended September&#160;30, 2025 and the year ended December&#160;31, 2024&#58;&#160;&#160;&#160;&#160;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"><tr><td style="width:1.0%"></td><td style="width:53.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.978%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.978%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.390%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.978%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.980%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Year Ended </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December&#160;31, 2024</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value<br>(CAD$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value<br>(CAD$)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, beginning of the period</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">30,161&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15.99&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">50,601&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15.83&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Settled</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(20,440)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15.59&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, end of the period</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">30,161&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15.99&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">30,161&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15.99&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March&#160;23, 2022, a revised standalone DSU plan was adopted by the Company (the &#34;2022 DSU Plan&#34;). All DSUs issued under the 2022 DSU Plan will be settled in cash only.  </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the changes in DSUs granted to directors for the nine months ended September&#160;30, 2025 and the year ended December&#160;31, 2024 under the 2022 DSU plan&#58;&#160;&#160;&#160;&#160;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"><tr><td style="width:1.0%"></td><td style="width:53.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.978%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.978%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.390%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.978%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.980%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Year Ended </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">December&#160;31, 2024</font></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value<br>(CAD$)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Weighted<br>Average<br>Fair Value<br>(CAD$)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, beginning of the period</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">101,144&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.44&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">62,332&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10.97&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Granted</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">63,310&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.46&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">75,184&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.98&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Settled</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(36,372)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.03&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Outstanding, end of the period</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">164,454&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.06&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">101,144&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.44&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September&#160;30, 2025, total share-based payments expense related to DSU's under the 2022 DSU plan was $1.4 million (September&#160;30, 2024 - $0.5 million). As at September&#160;30, 2025, there were a total of 164,454 DSUs outstanding, with a total liability of $2.0 million (December&#160;31, 2024 - $0.6 million).</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(f) &#160;&#160;&#160;&#160;Dividends</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company declared the following dividends during the nine months ended September&#160;30, 2025&#58;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:28.121%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.731%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.731%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.487%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Declaration Date</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Record Date</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Dividend per Common Share</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 19, 2025</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 28, 2025</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$0.0057</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">May 7, 2025</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">May 16, 2025</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$0.0045</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">August 13, 2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">August 29, 2025</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$0.0048</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:2pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 4, 2025</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 14, 2025</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$0.0052</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><br></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) These dividends were declared subsequent to the period end and have not been recognized as distributions to owners during the period presented.</font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 41</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_145"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">23.  NON-CONTROLLING INTERESTS</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The acquisition of Gatos on January 16, 2025, has resulted in the Company owning 70% of the LGJV. The remaining 30% interest in the LGJV, not held by the Company, is presented as non-controlling interest.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the financial information for LGJV shown on a 100% basis, except where stated&#58;</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.262%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.808%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2025</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current assets</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$115,043&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current assets</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,811,899&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total assets</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,926,942&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current liabilities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,909&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current liabilities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">526,370&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total liabilities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$567,279&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net assets</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,359,663&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-controlling interest percentage</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$407,899</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.133%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.344%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.055%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$108,736&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$302,314</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expenses</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(55,458)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(222,345)</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total net income</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$53,278</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$79,969</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 49pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-controlling interest percentage</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$15,984</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$23,991</font></td></tr></table></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.133%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.198%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.201%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash flows from&#58;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operating activities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$58,787</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$162,949</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investing activities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(16,065)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(56,192)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financing activities</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(31,505)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(63,831)</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Dividends and distributions paid to non-controlling interests</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($13,499)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($23,187)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:3pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 42</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_148"></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s financial instruments and related risk management objectives, policies, exposures and sensitivity related to financial risks are summarized below.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a) &#160;&#160;&#160;&#160;Fair value and categories of financial instruments</font></div><div style="padding-left:18pt;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments included in the condensed interim consolidated statements of financial position are measured either at fair value or amortized cost. Estimated fair values for financial instruments are designed to approximate amounts for which the instruments could be exchanged in an arm&#8217;s-length transaction between knowledgeable and willing parties.</font></div><div style="text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses various valuation techniques in determining the fair value of financial assets and liabilities based on the extent to which the fair value is observable. The following fair value hierarchy is used to categorize and disclose the Company&#8217;s financial assets and liabilities held at fair value for which a valuation technique is used.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 1&#58; Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.</font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 2&#58; All inputs which have a significant effect on the fair value are observable, either directly or indirectly, for substantially the full contractual term.</font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 3&#58; Inputs which have a significant effect on the fair value are not based on observable market data.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no transfers between levels 1, 2, and 3 during the nine months ended September&#160;30, 2025. </font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below summarizes the valuation methods used to determine the fair value of each financial instrument&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.783%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:53.287%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial Instruments Measured at Fair Value</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Valuation Method</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:41pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marketable securities - common shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marketable securities and silver future derivatives are valued based on quoted market prices for identical assets in an active market (Level 1) as at the date of statements of financial position. Marketable securities - stock warrants are valued using the Black-Scholes model based on the observable market inputs (Level 2). </font></td></tr><tr style="height:18pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marketable securities - stock warrants</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver futures derivatives</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables from concentrate sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">A portion of the Company&#8217;s trade receivables arose from provisional concentrate sales and are classified within Level 2 of the fair value hierarchy and valued using quoted market prices based on the forward London Metal Exchange for copper, zinc and lead and the London Bullion Market Association P.M. fix for gold and silver.</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial Instruments Measured at Amortized Cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Valuation Method</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Approximated carrying value due to their short-term nature.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restricted cash</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr style="height:21pt"><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The debt related to the revolving credit facility approximated carrying value as discount rate on these instruments approximate the Company's credit risk.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The senior convertible debentures are recognized at amortized cost using the effective interest rate method. The fair value of the Company's senior convertible debenture has been estimated based on the current SOFR rates, applicable margin, premium adjustments, and comparison to discount rates used by the peer group on similar notes, which indicates a fair value of $206.0 million (carrying amount&#58; $216.4 million).</font></div></td></tr><tr style="height:95pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 43</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a) &#160;&#160;&#160;&#160;Fair value and categories of financial instruments (continued)</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the Company&#8217;s fair value hierarchy for financial assets and financial liabilities that are measured at fair value&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.057%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.996%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2024</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value measurement</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value measurement</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Carrying value</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Carrying value</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 1</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Level 2</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Financial assets</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivable from concentrate sales subject to provisional pricing</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$28,230&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$28,230&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marketable securities (Note </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_97" style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">14</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$139,851&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$136,282&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,569&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$49,781&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$49,718&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$63&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:22.5pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s objectives when managing capital are to maintain financial flexibility to continue as a going concern while optimizing growth and maximizing returns of investments from shareholders.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b)   Capital risk management</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company monitors its capital structure and based on changes in operations and economic conditions, may adjust the structure by repurchasing shares, issuing new shares, issuing new debt or retiring existing debt. The Company prepares annual budget and quarterly forecasts to facilitate the management of its capital requirements. The annual budget is approved by the Company&#8217;s Board of Directors.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The capital of the Company consists of equity (comprising of issued capital, equity reserves and retained earnings or accumulated deficit), debt facilities, lease liabilities, net of cash and cash equivalents as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:68.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30,<br>2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31,<br>2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,007,440&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,351,071&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">216,753&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">209,482&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,420&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,535&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less&#58; cash and cash equivalents</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(435,355)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(202,180)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,809,258</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,385,908</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:22.5pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s investment policy is to invest its cash in highly liquid short-term investments with maturities of 90 days or less, selected with regards to the expected timing of expenditures from operations. The Company expects that its available capital resources will be sufficient to carry out its development plans and operations for at least the next 12 months.</font></div><div style="padding-left:22.5pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is not subject to any externally imposed capital requirements with the exception of complying with covenants under the debt facilities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_127" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">20</a>(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) and lease liabilities (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_130" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">21</a>(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). As at September&#160;30, 2025, the Company was in compliance with all of its debt covenants.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 44</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Financial risk management</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company thoroughly examines the various financial instruments and risks to which it is exposed and assesses the impact and likelihood of those risks. These risks may include credit risk, liquidity risk, currency risk, commodity price risk, and interest rate risk. Where material, these risks are reviewed and monitored by the Board of Directors.</font></div><div style="padding-left:4.5pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Risk</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk is the risk of financial loss if a customer or counterparty fails to meet its contractual obligations. The Company&#8217;s credit risk relates primarily to chartered banks, trade receivables in the ordinary course of business, value added taxes receivable and other receivables.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, net VAT receivable was $54.7 million (December 31, 2024 - $44.6 million), of which $14.9 million (December 31, 2024 -  $14.2 million) relates to La Encantada, $11.9 million relates to Santa Elena (December 31, 2024 - $5.1 million), and $7.8 million (December 31, 2024 - $7.0 million) relates to San Dimas. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company sells and receives payment upon delivery of its silver dor&#233;, concentrate and by-products primarily through six international customers. All of the Company&#8217;s customers have good ratings and payments of receivables are scheduled, routine and fully received within 60 days of submission&#59; therefore, the balance of trade receivables owed to the Company in the ordinary course of business is not significant.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying amount of financial assets recorded in the consolidated financial statements represents the Company&#8217;s maximum exposure to credit risk. With the exception to the above, the Company believes it is not exposed to significant credit risk.</font></div><div style="padding-left:4.5pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">  </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity Risk </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they arise. The Company manages liquidity risk by monitoring actual and projected cash flows and matching the maturity profile of financial assets and liabilities. Cash flow forecasting is performed regularly to ensure that there is sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and our holdings of cash and cash equivalents. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the maturities of the Company&#8217;s financial liabilities and commitments as at September&#160;30, 2025 based on the undiscounted contractual cash flows&#58; </font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:53.285%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.579%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Contractual</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Flows</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Less than <br>1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2 to 3<br>years</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">4 to 5<br>years</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$188,625&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$188,625&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">234,751&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,198&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">232,553&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,493&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,083&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,376&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,034&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Commitments</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,437&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,437&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$449,306</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$208,343</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$238,929</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,034</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:22.5pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September&#160;30, 2025, the Company had working capital of $542.4 million (December&#160;31, 2024 &#8211; $224.5 million). Total available liquidity at September&#160;30, 2025 was $682.0 million (December&#160;31, 2024 - $364.2 million), including $139.6&#160;million of undrawn revolving credit facility (December&#160;31, 2024 - $139.6 million). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes it has sufficient cash on hand, combined with cash flows from operations, to meet operating requirements as they arise for at least the next 12 months. If the Company needs additional liquidity to meet obligations, the Company may consider drawing on its debt facility, securing additional debt financing and&#47;or equity financing. </font></div><div><font><br></font></div><div style="padding-left:18pt"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 45</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Financial risk management (continued)</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Currency Risk</font></div><div style="padding-left:18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to foreign exchange risk primarily relating to financial instruments that are denominated in Canadian dollars or Mexican pesos, which would impact the Company&#8217;s net earnings or loss. To manage foreign exchange risk, the Company may occasionally enter into short-term foreign currency derivatives, such as forwards and options, to hedge its cash flows. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity of the Company&#8217;s net earnings or loss and comprehensive income or loss due to changes in the exchange rates of the Canadian dollar and the Mexican peso against the U.S. dollar is included in the table below&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.830%"><tr><td style="width:1.0%"></td><td style="width:12.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.391%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.391%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.391%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.071%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.081%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="45" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">September 30, 2025</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Restricted cash</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Value added taxes receivable</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Other financial assets</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Trade and other payables</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Foreign exchange derivative</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Net assets (liabilities) exposure</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in currency</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Canadian Dollar</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$12,389&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$569&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$6,338&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($4,728)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$1,385&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$15,953&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$1,595&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Mexican Peso</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26,499&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">113,441&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">54,736&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">(96,721)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">97,955&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">9,796&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$38,888</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$113,441</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$54,736</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$569</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$6,338</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">($101,449)</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$1,385</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$113,908</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$11,391</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:22.5pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From time to time, the Company utilizes certain derivatives to manage its foreign exchange exposures to the Mexican Peso. During the nine months ended September 30, 2025, the Company had an unrealized gain of $nil (2024 - $nil) on fair value adjustments to its foreign currency derivatives. As at September&#160;30, 2025, the Company held $1.4 million in foreign currency derivatives (December 31, 2024 - $nil). </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Commodity Price Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to commodity price risk on silver and gold, which have a direct and immediate impact on the value of its related financial instruments, non-financial items and net earnings. The Company&#8217;s revenues are directly dependent on commodity prices that have shown volatility and are beyond the Company&#8217;s control. The Company does not use long-term derivative instruments to hedge its commodity price risk to silver or gold.</font></div><div style="margin-top:5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A portion of the Company's trade receivable arose from provisional concentrate sales and are classified within Level 2 of the fair value hierarchy and valued using quoted market prices based on the forward London Metal Exchange for copper, zinc, lead, and the London Bullion Market Association P.M fix for gold and silver.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the Company&#8217;s exposure to commodity price risk and their impact on net earnings&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.654%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.180%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.180%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.628%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="27" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2025</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="33" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in metal prices</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Silver</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gold</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Zinc</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Lead</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Copper</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Metals in inventory</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,147&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,549&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$158&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$48&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$4,905&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivable from concentrate sales subject to provisional pricing</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,819&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$129&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,041&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$386&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$64&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$7,439&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,966</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,678</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$3,199</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$434</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$67</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$12,344</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="margin-top:5pt;padding-left:22.5pt"><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Interest Rate Risk</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to interest rate risk on its short-term investments, debt facilities and lease liabilities. The Company monitors its exposure to interest rates and has not entered into any derivative contracts to manage this risk. The Company&#8217;s interest-bearing financial assets comprise of cash and cash equivalents which bear interest at a mixture of variable and fixed rates for pre-set periods of time.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 46</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:58.5pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">24.  FINANCIAL INSTRUMENTS AND RELATED RISK MANAGEMENT (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c)   Financial risk management (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company&#8217;s exposure to interest rate risk on interest bearing liabilities is limited to its debt facilities and lease liabilities. Based on the Company&#8217;s interest rate exposure at September&#160;30, 2025, a 25 basis points increase or decrease in the market interest rate does not have a significant impact on net earnings or loss.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_151"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">25.  SUPPLEMENTAL CASH FLOW INFORMATION</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.876%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.040%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other adjustments to investing activities&#58;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Loan to Sierra Madre</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($5,000)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Purchase of marketable securities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(800)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,091)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,896)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11,967)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from disposal of marketable securities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">947&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,420&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,964&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,178&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other strategic investments</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">707&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$147</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$329</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($225)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,211</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">change</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">in</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">non-cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">working</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">capital</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">items&#58;</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Increase) decrease in trade and other receivables</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($3,150)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($3,856)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($8,067)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($2,981)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Increase) decrease in value added taxes receivable</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,459)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,115)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,096)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">594&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Increase) decrease in inventories</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,790)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,469)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,361)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Increase in prepaid expenses and other</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,945)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(734)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,047)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(757)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Decrease in income taxes payable</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,589)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(724)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,652)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,694)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Increase (decrease) in trade and other payables</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,248&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,258)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,206&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,681)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;(Increase) decrease in restricted cash (Note </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i91e11c600d04484491968b82e45e0525_118" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">18</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,089)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,643&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(27,344)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,707&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($16,774)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,967</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($37,469)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$9,827</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-cash</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">investing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">financing</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">activities&#58;</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transfer of share-based payments reserve upon settlement of RSU's, PSU's and DSU's</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$292&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,363&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,533&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2,769&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transfer of share-based payments reserve upon exercise of options</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,630&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,840&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition of Gatos</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,453,478&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Assets acquired by lease</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">635&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">635&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$9,557</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,365</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,488,486</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,789</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-top:5pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) On April 29, 2024, the Company entered into an agreement to loan $5.0 million to Sierra Madre, to be used towards the development and progress of the La Guitarra Mine. The transaction closed on May 7, 2024 (&#34;Closing Date&#34;) and was initially repayable to the Company within 24 months (&#34;Maturity Date&#34;). In June 2025, the agreement was amended to extend the Closing Date by one year, now expiring on May 7, 2027. The loan is subject to an interest rate of 15% per year, which will be due and payable starting six months from the Closing Date of the loan.</font></div><div style="margin-top:5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, cash and cash equivalents include $7.3 million (December 31, 2024 - $1.5 million) that are held in-trust as bonds for tax audits in Mexico. </font></div><div style="height:49.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 47</font></div></td></tr></table></div></div></div><div id="i91e11c600d04484491968b82e45e0525_154"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Due to the size, complexity and nature of the Company&#8217;s operations, various legal and tax matters arise in the ordinary course of business. The Company accrues for such items when a liability is probable and the amount can be reasonably estimated. </font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a) Claims and Legal Proceedings Risks</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of business activities. Each of these matters is subject to various uncertainties and it is possible that some of these other matters may be resolved in a manner that is unfavourable to the Company which may result in a material adverse impact on the Company's financial performance, cash flow or results of operations. First Majestic carries liability insurance coverage and establishes provisions for matters that are probable and can be reasonably estimated, however there can be no guarantee that the amount of such coverage is sufficient to protect against all potential liabilities. In addition, the Company may in the future be subjected to regulatory investigations or other proceedings and may be involved in disputes with other parties in the future which may result in a significant impact on our financial condition, cash flow and results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) Primero Tax Rulings</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When Primero, the previous owner of San Dimas acquired the San Dimas Mine in August 2010, it assumed the obligations under a Silver Purchase Agreement (&#8220;Old Stream Agreement&#8221;) that required its subsidiary, PEM, to sell exclusively to Wheaton Precious Metals (&#8220;WPMI&#8221;) up to 6 million ounces of silver produced from the San Dimas Mine, and 50% of silver produced thereafter, at the lower of&#58; (i) the spot market price and (ii) $4.014 per ounce plus an annual increase of 1% (&#8220;PEM Realized Price&#8221;). In May 2018, the Old Stream Agreement was terminated between WPMI and Silver Trading (Barbados) Limited (&#8220;STB&#8221;) in connection with the Company entering into a new stream agreement with WPMI concurrent with the acquisition of Primero by the Company.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to reflect the commercial terms and the effects of the Old Stream Agreement, for Mexican income tax purposes, PEM recognized the revenue on these silver sales based on the PEM Realized Price instead of at spot market prices.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To obtain tax and legal assurance that the Mexican tax authority, Servicio de Administraci&#243;n Tributaria (&#8220;SAT&#8221;) would accept the PEM Realized Price as the transfer price to calculate Mexican income taxes payable by PEM, a mutually binding Advance Pricing Agreement (&#8220;APA&#8221;) was entered into with the SAT for the taxation years 2010 to 2014. On October 4, 2012, the SAT confirmed that based on the terms of the APA, the PEM Realized Price could be used as PEM&#8217;s basis for calculating taxes owed for the silver sold under the Old Stream Agreement. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2015, the SAT commenced a legal process seeking to retroactively nullify the APA&#59; however, the SAT did not identify an alternative basis in its legal claim for calculating taxes on the silver sold by PEM for which PEM received the PEM Realized Price.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2019, the SAT issued reassessments for the 2010 ($36.6 million), 2011 ($108.6 million) and 2012 ($204.7 million) tax years in the total amount of $349.9 million (6,432 million MXN) inclusive of interest, inflation, and penalties. In 2021, the SAT also issued a reassessment against PEM for the 2013 tax year in the total amount of $185.0 million (3,401 million MXN) inclusive interest, inflation and penalties, and in 2023, the SAT issued reassessments for the 2014, 2015, and 2016 tax years in the total amount of $471.6 million (8,669 MXN)   inclusive of interest, inflation, and penalties (collectively, the &#8220;Reassessments&#8221;). For the 2017 and 2018 tax years, the SAT has initiated audits that have not yet been concluded, and therefore, tax reassessments for these years have yet to be issued. The Company believes that the Reassessments fail to recognize the applicability of a valid transfer pricing methodology. The major items in the Reassessments include determination of revenue based on spot market prices of silver, denial of the deductibility of interest expense and service fees, SAT technical error related to double counting of taxes, and interest and penalties.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to defend the APA in domestic legal proceedings in Mexico, and the Company has also requested resolution of the transfer pricing dispute pursuant to the Mutual Agreement Procedure (&#8220;MAP&#8221;), under the relevant avoidance of double taxation treaties, between the competent tax authorities of Mexico, Canada, Luxembourg and Barbados. The SAT has refused to take the necessary steps under the MAP processes contained in the three tax treaties. The Company believes that by its refusal, Mexico is in breach of its international obligations regarding double taxation treaties. Furthermore, the Company continues to believe that the APA remains valid and legally binding on the SAT.</font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 48</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) Primero Tax Rulings (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to pursue all available domestic and international remedies under the laws of Mexico and under the relevant tax treaties. Furthermore, as discussed further below, the Company has also made claims against Mexico under Chapter 11 of the North American Free Trade Agreement (&#8220;NAFTA&#8221;) for violation of its international law obligations.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Domestic Remedies in Mexico</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2020, the Company was served with a decision of the Mexican Federal Tax Court on Administrative Matters (the &#8220;Federal Tax Court&#8221;) seeking to nullify the APA granted to PEM. The Company filed an appeal against the decision to the Mexican Circuit Court on November 30, 2020. On December 5, 2023, the Mexican Circuit Court issued a decision, which was formally notified to the Company on January 4, 2024. In such decision, the Mexican Circuit Court partially granted constitutional protection to the Company with respect to certain matters, but not others.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accordingly, on January 18, 2024, PEM filed an extraordinary appeal to the Mexican Supreme Court of Justice with respect to PEM&#8217;s constitutional arguments that were not accepted in the Mexican Circuit Court&#8217;s decision, and following the admission of the appeal, the Second Chamber of the Supreme Court of Justice assumed jurisdiction over the appeal on June 20, 2024.  On September 18, 2024, the Supreme Court issued its decision, which was formally notified to the Company on October 15, 2024. The Supreme Court dismissed the Company&#8217;s appeal regarding the constitutional arguments, but affirmed the validity of certain precedents of the Supreme Court which the Company believes are favourable to PEM and that were not considered by the Federal Tax Court in its original decision in September 2020. The case was sent back to the Federal Tax Court, and on December 4, 2024, the Federal Tax Court issued a new decision which did not take into account the Supreme Court precedents. Accordingly, on January 23, 2025, PEM filed a new constitutional lawsuit against the latest decision of the Federal Tax Court and such lawsuit was admitted by the Second Collegiate Court on February 18, 2025. The Company expects that a decision on this new lawsuit may be issued by the Second Collegiate Court in the second half of 2025.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">International Remedies</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">i. NAFTA APA Claim</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In respect of the APA, the Company submitted an Arbitration Request dated March 1, 2021 to the International Centre for Settlement of Investment Disputes (&#34;ICSID&#34;), on its own behalf and on behalf of PEM, pursuant to Chapter 11 of NAFTA (the &#8220;NAFTA APA Claim&#8221;). The NAFTA Arbitration Panel (the &#8220;Tribunal&#8221;) was fully constituted on August 20, 2021. Various procedural filings have since been made by the Company and Mexico.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Of note, on May 26, 2023, the Tribunal granted certain provisional measures requested by the Company, issuing an order for Mexico to allow the Company to access VAT refunds from January 4, 2023 onwards that had been deposited by the SAT into a bank account of PEM that had been frozen by the SAT, and to deposit all future VAT refunds into a new bank account of PEM  which shall remain freely accessible by the Company (the &#34;PM Decision&#34;). The PM Decision was upheld by the Tribunal on September 1, 2023, in response to a request from Mexico to revoke the decision. As a result, Mexico is obligated to comply with the PM Decision which requires payment of VAT refunds owing to PEM as of January 4, 2023 and into the future until the final award is rendered by the Tribunal. On July 9, 2024, the Company received a transfer of $11.0 million (198.4 million MXN) from the frozen bank account to a new bank account of PEM that the Company had opened in July 2023. The transfer of such funds was carried out by Mexico in partial compliance with its obligations under the PM Decision. However, Mexico still needs to transfer approximately $4.5 million from the frozen bank account.  In addition, in breach of the PM Decision, on August 29, 2024 the SAT froze the new bank account that PEM had opened for the purpose of receiving VAT refunds.  Mexico argued that they did not need to comply with the PM Decision whilst their Consolidation Request (detailed below) was still being decided.  Following the rejection of Mexico&#8217;s Consolidation Request in July 2025, the suspension on the arbitration proceedings for the NAFTA APA Claim was lifted, and the Company informed the Tribunal of Mexico&#8217;s continued non-compliance with the PM Decision. On September 22, 2025, the Tribunal issued Procedural Order No. 8, wherein the Tribunal confirmed that full compliance with the PM Decision requires that all monthly VAT refunds by SAT in favour of PEM, already effected or to be made in the future while the arbitration on the NAFTA APA Claim is ongoing, must be freely available to PEM, by SAT depositing or transferring such amounts to accounts to be maintained freely available to PEM.  The Tribunal ordered Mexico </font></div><div style="text-align:justify"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 49</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) Primero Tax Rulings (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to make available to PEM the approximately US$4.5 million worth of VAT refunds in the first frozen bank account.  The Tribunal also confirmed that the freezing by the SAT of PEM&#8217;s bank account that had been opened after the PM Decision was rendered for the purpose of receiving VAT refunds was contrary to the PM Decision, and that Mexico must remedy the situation to ensure that the VAT refunds currently in such bank account, and any VAT refunds deposited into such bank account in the future, are freely available to PEM.  The Company is currently waiting for Mexico to comply with the Tribunal&#8217;s latest order on this matter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 12, 2024, Mexico filed a request (the &#8220;Consolidation Request&#8221;) with ICSID pursuant to the procedure in Article 1126 of NAFTA to consolidate the NAFTA APA Claim and the NAFTA VAT Claim into one arbitration proceeding. A separate three-person tribunal to consider the Consolidation Request (the &#8220;Consolidation Tribunal&#8221;) was constituted on May 8, 2024, and the first procedural hearing of the Consolidation Tribunal took place on July 16, 2024.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to expedite the arbitration proceedings, the Company advised the Consolidation Tribunal and Mexico that it is proposing to add claims covered by the NAFTA VAT Claim to the NAFTA APA Claim as ancillary claims. On July 15, 2024, the Tribunal with jurisdiction over the NAFTA APA Claim granted the Company the right to introduce the ancillary claims to the NAFTA APA Claim, which would make it unnecessary for the NAFTA VAT Claim to proceed separately from the NAFTA APA Claim. On October 1, 2024, the Company submitted its request to the Secretary-General of ICSID to discontinue the NAFTA VAT Claim pursuant to Rule 56 of the 2022 ICSID Arbitration Rules. Mexico objected to the discontinuance on October 7, 2024, so pursuant to Rule 56, the proceedings with respect to the NAFTA VAT Claim will continue.  Mexico filed its Memorial in support of the Consolidation Request on October 7, 2024, and the Company filed its Counter-Memorial on December 6, 2024. On January 8, 2025, a pre-hearing conference call took place among the Company, Mexico and the Consolidation Tribunal, and an in-person hearing was held in Washington, D.C. from January 27 to 28, 2025, at which the Consolidation Tribunal heard the Company&#8217;s arguments against the Consolidation Request, and Mexico&#8217;s arguments in support of the Consolidation Request. Following the hearing, both Mexico and the Company submitted post-hearing briefs to the Consolidation Tribunal on February 19, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 28, 2025, the Consolidation Tribunal rendered its decision (the &#8220;Consolidation Decision&#8221;) and rejected the Consolidation Request. It also lifted the suspension on the arbitration proceedings related to the NAFTA APA Claim and the NAFTA VAT Claim effective immediately as of the date of its order, being July 28, 2025. Accordingly, the arbitration proceedings related to the NAFTA APA Claim and the NAFTA VAT Claim have now reconvened after being suspended for the past year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the SAT&#8217;s attempts to retroactively nullify the APA are successful, the SAT can be expected to enforce any reassessments for 2010 through 2014 against PEM in respect of its sales of silver pursuant to the Old Stream Agreement. Such an outcome would likely have a material adverse effect on the Company&#8217;s results of operations, financial condition and cash flows. Should the Company ultimately be required to pay tax on its silver revenues based on spot market prices without any mitigating adjustments, the incremental income tax for the years 2010-2019 would be $308.0 million (5,661 million MXN), before taking into consideration interest or penalties.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the Company&#8217;s consultations with third party advisors, the Company believes PEM filed its tax returns in compliance with applicable Mexican law and that the APA is valid, therefore, at this time, no liability has been recognized in the financial statements with respect to this matter.</font></div><div style="text-align:justify;text-indent:14.5pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent it is ultimately determined that the pricing for silver sales under the Old Stream Agreement is significantly different from the PEM Realized Price, and while PEM would have rights of appeal in connection with any reassessments, it is likely to have a materially adverse effect on the Company&#8217;s business, financial position and results of operations. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ii. NAFTA VAT Claim</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 31, 2023, the Company filed a new Notice of Intent on its own behalf and on behalf of PEM under the &#34;legacy investment&#34; claim provisions contained in Annex 14-C of the Canada-United States-Mexico Agreement (&#8220;CUSMA&#8221;) and Chapter 11 of NAFTA to invite the Government of Mexico to engage in discussions to resolve the dispute regarding the ongoing denial of access to PEM&#8217;s VAT refunds (&#34;NAFTA VAT Claim&#34;) within the stipulated 90-day consultation period. The </font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 50</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) Primero Tax Rulings (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company submitted its Arbitration Request for the NAFTA VAT Claim to ICSID on June 29, 2023 in order to preserve its legacy claim within NAFTA's applicable limitation period, and the Arbitration Request was registered by ICSID on July 21, 2023. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the Consolidation Decision, on October 21, 2025, the Company filed its Ancillary Claims Memorial with the Tribunal for the NAFTA APA Claim, and is currently in discussions with Mexico with respect to Mexico consenting to the discontinuance of the NAFTA VAT Claim.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While the Company remains confident in its position with regards to its NAFTA claims, it continues to engage with the Government of Mexico in consultation discussions so as to amicably resolve these disputes.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c) La Encantada Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, as part of the ongoing annual audits of the tax returns of Minera La Encantada, S.A. de C.V. (&#8220;MLE&#8221;) and Corporacion First Majestic S.A. de C.V. (&#8220;CFM&#8221;), the SAT issued tax assessments for fiscal 2012 and 2013 for corporate income tax in the amount of $40.3 million (741 million MXN) and $29.3 million (539 million MXN) including interest, inflation and penalties, respectively. In December 2022, the SAT issued tax assessments to MLE for fiscal years 2014 and 2015 for corporate income tax in the amount of $18.5 million (340 million MXN) and $232.4 million (4,272 million MXN). In 2023, the SAT issued a tax assessment to MLE for the fiscal year 2016 for corporate income tax in the amount of $3.3 million (60 million MXN). The SAT also issued an assessment for fiscal 2017 in the amount of $7.0 million (129 million MXN). The majority of these tax assessments relate to a prior forward silver purchase agreement to which MLE was a party, and to the denial of the deductibility of mine development costs and service fees. The Company continues to defend the validity of the forward silver purchase agreement and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes MLE&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(d) San Martin Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023, as part of the ongoing annual audits of the tax returns of Minera El Pilon, S.A. de C.V. (&#8220;MEP&#8221;), the SAT issued tax assessments for fiscal 2014, 2015 and 2016 for corporate income tax in the total amount of $26.7 million (505 million MXN) including interest, inflation and penalties. In 2024, the SAT issued a tax assessment for fiscal 2017 for corporate income tax in the amount of $3.4 million (65 million MXN) including interest, inflation, and penalties. The majority of these tax assessments related to a prior forward silver purchase agreement to which MEP was a party, and to the denial of the deductibility of mine development costs.  Pursuant to ongoing discussions, the Company and SAT came to a resolution whereby the Company paid the SAT additional income taxes in the amount of $5.2 million (95.3 million MXN) in 2025 whereby amounts related to the forward silver purchase agreement were removed from the assessed amounts for the relevant years.  The tax assessments for fiscal 2014, 2015, 2016, and 2017 for corporate income tax now total $23.9 million (440 million MXN), including interest, inflation and penalties.  In 2025, the SAT issued an additional tax assessment for fiscal 2018 in the amount of $5.1 million (95 million MXN) including interest, inflation, and penalties.  The Company continues to defend the validity of the deductibility of the mine development costs and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes MEP&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(e) La Parrilla Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023 and 2024, as part of the ongoing annual audits of the tax returns of First Majestic Plata, S.A. de C.V. (&#8220;FMP&#8221;), the SAT issued tax assessment for fiscal 2014, 2015, and 2016 for corporate income tax in the total amount of $29.2 million (536 million MXN) including interest, inflation and penalties. In 2025, the SAT issued a tax assessment for fiscal 2017 for corporate income tax in the total amount of $2.5 million (47 million MXN) including interest, inflation and penalties. The majority of these tax assessments relate to a prior forward silver purchase agreement to which FMP was a party, and to the denial of the deductibility of mine development costs. The Company continues to defend the validity of the forward silver purchase agreement and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and </font></div><div style="text-align:justify"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 51</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">26.  CONTINGENCIES AND OTHER MATTERS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(e) La Parrilla Tax Re-assessments (continued)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">financial advisors, believes FMP&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(f) Del Toro Tax Re-assessments</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023, as part of the ongoing annual audits of the tax returns of First Majestic Del Toro, S.A. de C.V. (&#8220;FMDT&#8221;), the SAT issued tax assessment for fiscal 2015 and 2016 for corporate income tax in the total amount of $27.5 million (506 million MXN) including interest, inflation and penalties. The major items relate to and denial of the deductibility of mine development costs, refining costs, and other expenses. The Company continues to defend the validity of the expenses and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes FMDT&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(g) CFM Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023, as part of the ongoing annual audits of the tax returns of CFM, the SAT issued tax assessment for fiscal 2016 for corporate income tax in the total amount of $80.1 million (1,473 million MXN) including interest, inflation and penalties. The major item relates to planning that took place post-acquisition of Santa Elena (via the acquisition of SilverCrest Mines Inc. on October 1, 2015) at the Canadian level. Mexico contends a right to tax a disposition of the shares of SilverCrest Mines Inc. by First Majestic Silver Corp. although the transaction in question involved the disposition of the shares of one Canadian company by another Canadian company and was reported for tax purposes in Canada. The Company continues to defend the validity of the transaction in question and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes CFM&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(h) First Silver Litigation</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2013, the Company received a positive judgment on the First Silver litigation from the Supreme Court of British Columbia (the &#8220;Court&#8221;), which awarded the sum of $93.8 million in favour of First Majestic against Hector Davila Santos (the &#8220;Defendant&#8221;) in connection with a dispute between the Company and the Defendant and his private company involving a mine in Mexico (the &#8220;Bola&#241;os Mine&#8221;) as set out further below. The Company received a sum of $14.1 million in June 2013 as partial payment of the judgment, leaving an unpaid amount of $64.3 million (CAD$81.5 million). As part of the ruling, the Court granted orders restricting any transfer or encumbrance of the Bola&#241;os Mine by the Defendant and limiting mining at the Bola&#241;os Mine. The orders also require the Defendant to preserve net cash flow from the Bola&#241;os Mine in a holding account and periodically provide to the Company certain information regarding the Bola&#241;os Mine. After many years of domestic Mexican litigation, the enforceability of the British Columbia judgment was finally recognized by the Mexican Supreme Court in a written judgment on November 11, 2022. The Company is continuing its enforcement efforts in respect of the Defendant&#8217;s assets in Mexico. There are no assurances that the Company will be successful in collecting on the remainder of the Court&#8217;s judgment in respect of the Defendant&#8217;s assets. Therefore, as at September 30, 2025, the Company has not accrued any of the remaining $64.3 million (CAD$81.5 million) unrecovered judgment in favour of the Company.</font></div><div style="text-align:justify"><font><br></font></div><div id="i91e11c600d04484491968b82e45e0525_163"></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">27.  SUBSEQUENT EVENTS</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Declaration of Quarterly Dividend</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November&#160;4, 2025, the Company&#8217;s Board of Directors approved the declaration of its quarterly common share dividend of $0.0052 per share, payable on or after November&#160;28, 2025, to common shareholders of record as at the close of business on November&#160;14, 2025. This dividend was declared subsequent to the quarter-end and has not been recognized as a distribution to owners during the period ended September&#160;30, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 52</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.412%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Tabular amounts are expressed in thousands of US dollars)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">27.  SUBSEQUENT EVENTS (continued)</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PEM Tax Reassessment Update</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 27, 2019, PEM was served notice of a tax reassessment issued by the SAT in connection with the 2012 tax year which disregarded the Advance Pricing Agreement (&#8220;APA&#8221;) that had previously been granted to PEM by the SAT in October 2012 (see Note 26 above under &#8220;(b) Primero Tax Rulings&#8221; for further details). PEM has been challenging this reassessment through domestic legal proceedings in Mexico since it was issued. On December 5, 2024, the Collegiate Court issued a decision confirming the 2012 tax reassessment, notwithstanding the fact that the domestic proceedings which the SAT commenced in February 2015 seeking to retroactively nullify the APA are still ongoing, and that as of today, the APA still remains valid under Mexican law. As a result of the Collegiate Court&#8217;s decision, on January 22, 2025, PEM filed an extraordinary appeal against the decision, and such appeal was admitted on February 10, 2025 by the former President of the Mexican Supreme Court.  On March 3, 2025, the Mexican Ministry of Finance and Public Credit (the &#8220;Mexican Finance Ministry&#8221;) filed an appeal against the admission of PEM&#8217;s appeal by the Supreme Court.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsequent to September 30, 2025, the Company has been informed by its legal advisors in Mexico that on October 30, 2025, the Supreme Court issued a decision in favour of the appeal filed by the Mexican Finance Ministry, thereby overturning the February 10, 2025 admission of PEM&#8217;s appeal. As a result, the Supreme Court will not hear PEM&#8217;s appeal of the Collegiate Court&#8217;s decision regarding the 2012 tax reassessment. The Company has considered the implication of the decision and has concluded that no adjustment to these condensed interim financial statements is necessary. Refer to Note 26(b) above for further details regarding the tax reassessment for the 2012 tax year. The Company is currently waiting to be served with official notice of the Supreme Court&#8217;s decision to review the reasons provided by the Supreme Court in making its decision, and will consider what further actions, if any, it may take under Mexican domestic law and under international law after reviewing the decision.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tax reassessment for 2012 is one of various reassessments that the SAT has issued against PEM, notwithstanding that the APA is still currently valid (see Note 26(b) above for further details on the Reassessments), and the Company&#8217;s NAFTA arbitration proceedings in respect of the APA are still ongoing.  In addition, the Company&#8217;s domestic legal challenge with respect to SAT&#8217;s nullification action in Mexico regarding the APA is still ongoing. As stated in Note 26(b) above under &#8220;Domestic Remedies in Mexico&#8221;, the Company is currently waiting on the Second Collegiate Court to issue its decision on the matter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Whilst the Company continues to pursue all legal challenges and remedies available to it under domestic and international law and remains confident in its position with regards to its NAFTA arbitration claims, the Company continues to engage with the SAT and the Mexican government with a view to reaching a comprehensive settlement and amicably resolving PEM&#8217;s tax disputes. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.515%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.285%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The accompanying notes are an integral part of the condensed interim consolidated financial statements</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:36pt;text-align:right"><font style="color:#424242;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page 53</font></div></td></tr></table></div></div></div></body></html>
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<title>Document</title></head><body><div id="i32be6b856347497cbb3bced14aa7fdf0_1"></div><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:8pt;text-align:center"><img alt="image0b331a.gif" src="image0b331a.gif" style="height:186px;margin-bottom:5pt;vertical-align:text-bottom;width:280px"></div><div style="margin-bottom:8pt;margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:15pt;font-weight:700;line-height:120%">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">FOR THE QUARTER ENDED SEPTEMBER&#160;30, 2025  </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="background-color:#ffff00;color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%"><br></font></div><div style="height:58.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="9" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">925 West Georgia Street, Suite 1800, Vancouver, B.C., Canada V6C 3L2<br>Phone&#58; 604.688.3033 &#124; Fax&#58; 604.639.8873&#124; Toll Free&#58; 1.866.529.2807 &#124; Email&#58; info&#64;firstmajestic.com<br>www.firstmajestic.com</font></td></tr></table></div><div style="text-align:center"><font><br></font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_4"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.751%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:74.049%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">TABLE OF CONTENTS</font></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:89.971%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.812%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_7" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">COMPANY OVERVIEW</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_7" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">3</a></font></div></td></tr><tr style="height:6pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_13" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">2025 THIRD QUARTER HIGHLIGHTS</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_13" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">4</a></font></div></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_16" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">ACQUISITION OF GATOS SILVER INC.</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_16" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">8</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OVERVIEW OF OPERATING RESULTS</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Summary of Selected Quarterly Production Results</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_22" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">12</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Consolidated Operations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_25" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">13</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Los Gatos Silver Mine</a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">   </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_28" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">16</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_31" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Santa Elena Silver&#47;Gold Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_31" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">18</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_34" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">San Dimas Silver&#47;Gold Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_34" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">20</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_37" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">La Encantada Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_37" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">22</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_40" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">First Mint LLC</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_40" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">24</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_43" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Jerritt Canyon Gold Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_43" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">25</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_52" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Del Toro Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_52" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">26</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">San Martin Silver Mine</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_58" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">26</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_64" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Springpole Silver Stream</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_64" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">26</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OVERVIEW OF FINANCIAL PERFORMANCE</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Third Quarter 2025 vs 2024</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_70" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">28</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Year to Date 2025 vs 2024 </a></font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_73" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">30</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Summary of Selected Quarterly Results</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_76" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">33</a></font></div></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OTHER DISCLOSURES</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Liquidity, Capital Resources and Contractual Obligations</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_79" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">33</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_82" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Management of Risks and Uncertainties</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_82" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">36</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_85" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Other Financial Information</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_85" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">46</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Subsequent Events</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_88" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">47</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Accounting Policies, Judgments and Estimates</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_91" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">49</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Non-GAAP Measures</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_94" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">52</a></font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_106" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Management's Report on Internal Control Over Financial Reporting</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_106" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">62</a></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Cautionary Statements</a></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="#i32be6b856347497cbb3bced14aa7fdf0_109" style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">64</a></font></div></td></tr></table><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_7"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:16pt;font-weight:700;line-height:120%">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Management&#8217;s Discussion and Analysis of Results of Operations and Financial Condition (&#8220;MD&#38;A&#8221;) should be read in conjunction with the unaudited consolidated financial statements of First Majestic Silver Corp. (&#8220;First Majestic&#8221; or the &#34;Company&#8221;) for the three and nine months ended September 30, 2025 which are prepared in accordance with International Accounting Standard (&#34;IAS&#34;) 34, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#34;Interim Financial Reporting&#34;, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and the audited consolidated financial statements of the Company as at and for the year ended December&#160;31, 2024, as some disclosures from the annual consolidated financial statements have been condensed or omitted.&#160;All dollar amounts are expressed in United States (&#8220;US&#8221;) dollars and tabular amounts are expressed in thousands of US dollars, unless otherwise indicated.&#160;Certain amounts shown in this MD&#38;A may not add exactly to total amounts due to rounding differences. Production and certain metrics as specified in each table throughout the MD&#38;A with respect to the Los Gatos Silver Mine are presented on an attributable basis calculated on the basis of the Company&#8217;s 70% interest in the Los Gatos joint venture and reflect results from January 16, 2025 which is the date of the acquisition by the Company of its interest in the Los Gatos Silver Mine. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This MD&#38;A contains &#8220;forward-looking statements&#8221; that are subject to risk factors set out in a cautionary note contained at the end of this MD&#38;A. All information contained in this MD&#38;A is current and has been approved by the Board of Directors of the Company as of November&#160;4, 2025 unless otherwise stated. </font></div><div style="text-align:justify"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.751%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:74.049%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">COMPANY OVERVIEW</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic is in the business of production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. The Company owns four producing mines in Mexico consisting of the Santa Elena Silver&#47;Gold Mine, the newly acquired Los Gatos Silver Mine (&#8220;Los Gatos&#8221;) (through the Company&#8217;s 70% interest in the Los Gatos joint venture), the San Dimas Silver&#47;Gold Mine, and the La Encantada Silver Mine. The Company also owns the Jerritt Canyon Gold Mine in Nevada, USA which the Company placed on temporary suspension on March 20, 2023 to focus on exploration, definition, and expansion of the mineral resources and optimization of mine planning and plant operations. The Company owns two additional mines currently in care and maintenance in Mexico&#58; the San Martin Silver Mine and the Del Toro Silver Mine, as well as several exploration projects. In addition, the Company is the 100% owner and operator of its own minting facility, First Mint, LLC (&#8220;First Mint&#8221;).</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic is publicly listed on the New York Stock Exchange (&#8220;NYSE&#8221;) and the Toronto Stock Exchange (&#8220;TSX&#8221;) under the symbol &#8220;AG&#8221;, and on the Frankfurt Stock Exchange under the symbol &#8220;FMV&#8221;. </font></div><div><font><br></font></div><div><img alt="updatedassetmapa.jpg" src="updatedassetmapa.jpg" style="height:272px;margin-bottom:5pt;vertical-align:text-bottom;width:672px"></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_13"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2025 THIRD QUARTER HIGHLIGHTS</font></div></td></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.303%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.137%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.730%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.466%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.247%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.466%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.840%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.840%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.069%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Key Performance Metrics</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change<br>Q3 vs Q2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2024-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change<br>YTD</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operational</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">997,002</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,003,804&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">678,397&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,945,181</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,941,617&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,863,673</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,701,995&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,967,574&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,270,171</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,046,931&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">86</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gold Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,681</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,865&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41,761&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(15</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">106,015</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">117,036&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Equivalent (&#34;AgEq&#34;) Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,651,058</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,852,311&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,490,416&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,215,078</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,942,138&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Costs per Silver Equivalent Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$14.83</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.08&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.17&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$14.53</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.15&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Silver Equivalent Ounce  (&#34;AISC&#34;)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$20.90</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.02&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.03&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$20.39</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.39&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Production Cost per Tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$102.53</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$104.45&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$109.81&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$101.64</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$116.56&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b3b3b3;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13</font></td><td style="border-top:1pt solid #b3b3b3;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Average Realized Silver Price per Silver Equivalent Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$39.03</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$34.62&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$29.84&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$35.35</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$27.25&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial (in $millions)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$285.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$264.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$146.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$793.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$388.3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">104</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mine Operating Earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$99.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$49.4&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">101</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$28.5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$212.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$43.7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Earnings (Loss)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$43.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$56.6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(24</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b3b3b3;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($26.6)</font></td><td style="border-top:1pt solid #b3b3b3;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$105.8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($88.4)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating Cash Flows before Non-Cash Working Capital and Taxes</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$141.3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$114.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$39.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$366.3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$76.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Capital Expenditures</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$52.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$56.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$34.7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">50</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$159.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$91.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">74</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and Cash Equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$435.4</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$384.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$154.7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">181</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$435.4</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$154.7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">181</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$4,235.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$4,094.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1,977.5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">114</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$4,235.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1,977.5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">114</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Non-Current Financial Liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1,000.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$995.6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$482.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">107</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1,000.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$482.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">107</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Working Capital</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$542.4</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$444.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">22</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$238.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">128</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$542.4</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$238.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">128</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Earnings before Interest, Tax, Depreciation and Amortization (&#34;EBITDA&#34;)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$128.6</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$119.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$36.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$347.3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$65.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$138.6</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$125.3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$39.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$373.7</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$79.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Free Cash Flow</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$98.8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$77.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$31.3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$220.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$38.6&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Earnings (loss) per Share (&#34;EPS&#34;) &#8211; Basic &#38; Diluted</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.06</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.11&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(45</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.09)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(167</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.30)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">120</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjusted EPS</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.07</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.04&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.03)</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #c0c0c0;border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.16</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.17)</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(195</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:3.47pt">These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures.</font></div><div style="padding-left:13.5pt;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:112%">(2) Operational metrics shown in the table above are reported on an attributable basis to account for the Company&#8217;s 70% ownership of Los Gatos.</font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify;text-indent:6.75pt"><font><br></font></div><div style="padding-right:-11.25pt;text-align:center;text-indent:6.75pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.851%"><tr><td style="width:1.0%"></td><td style="width:37.499%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.654%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.822%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.822%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.226%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Third Quarter Production Summary</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Los Gatos </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">213,262&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">277,858&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">234,156&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">271,726&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">997,002</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,408,467&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">412,669&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,467,344&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">575,193&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,863,673</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gold Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">727&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,979&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,945&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">35,681</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,125,666&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,256,695&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,690,893&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">577,803&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">7,651,058</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Costs per Silver Equivalent Ounce </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$12.51&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.00&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$14.29&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$24.06&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$14.83</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Silver Equivalent Ounce </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.36&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$18.32&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$19.36&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$29.72&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$20.90</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Production Cost per Tonne </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$96.29&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$114.79&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$154.35&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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#acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) All production and non-GAAP results shown in the table above are reported on an attributable basis, meaning they reflect only the portion of results corresponding to the Company&#8217;s 70% ownership of the Los Gatos Silver Mine. </font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2) These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures.</font></div><div style="padding-left:13.5pt;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Third Quarter Operational Highlights</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Record Quarterly Silver Production&#58; </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company produced </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.9</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million silver ounces in the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">third quarter of 2025, </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">representing a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">96%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> increase when compared to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.0</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million silver ounces produced in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the third quarter of 2024</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The increase in total silver production in the quarter was primarily driven by the addition of </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.4</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million ounces of attributable silver production in the quarter from Los Gatos, along with </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">40% </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">increase in silver production at San Dimas.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Strong Silver Equivalent Production&#58; </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company produced </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.7</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million AgEq ounces in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the third quarter of 2025 </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(8.1 million using 2025 guidance metal prices),  representing a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">increase</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> compared to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.5</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million AgEq ounces produced in the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">third quarter of 2024.</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> This growth was primarily driven by a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">96%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> increase in attributable consolidated silver production, including contributions from Los Gatos, as well as a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27% </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">production increase at San Dimas.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Inventory&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company held 758,333 silver ounces and 3,994 gold ounces in finished goods inventory as at September&#160;30, 2025, inclusive of coins and bullion. The fair value of this inventory at September&#160;30, 2025 was $50.3 million, which was not included in revenue during the third quarter. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Record Quarterly Revenues at First Mint&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total revenues for First Mint during the third quarter of 2025 were $11.1 million, representing a significant increase compared to revenues of $2.7 million in the third quarter of 2024.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:12.53pt">Continued Active Exploration Program&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> During the third quarter, the Company completed a total of 79,481 metres (&#8220;m&#8221;) of drilling across its mines in Mexico and the United States. Throughout the quarter, up to 30 drill rigs were active consisting of five rigs at Los Gatos, eight rigs at Santa Elena, 13 rigs at San Dimas, two rigs at La Encantada and two rigs at Jerritt Canyon.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:13.02pt">Positive Exploration Results&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In August, the Company announced positive exploration results from numerous veins at San Dimas including near-mine extensions at Elia, Sinaloa, Roberta, and Santa Teresa as well as a new high-grade silver and gold intercept of the Coronado vein in the West Block. At Los Gatos, expansionary drilling intersected significant silver and base metal mineralization in the South-East Deeps, Central Deeps, and North-West Deeps zones, announced by the Company in September. Additional results from this year&#8217;s extensive exploration drilling programs, including those at Santa Elena and at Jerritt Canyon in Nevada, are expected to be announced before year-end.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:13.02pt">Strong Safety Performance Continues&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Q3 2025 year to date consolidated Total Reportable Incident Frequency Rate (&#8220;TRIFR&#8221;) was 0.61, better than the Company&#8217;s 2025 target KPI of 0.70. The Lost Time Incident Frequency Rate (&#8220;LTIFR&#8221;) was 0.13, the same as it was in the same period last year. As a result of the Company&#8217;s continued safety efforts, Santa Elena was recognized for &#8220;Excellence in Safety&#8221; by the Mexican Mining Chamber, in the Underground Mining category with more than 500 workers. Additionally, Jerritt Canyon was awarded the Nevada Mining Association Operator Safety Award.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:12.53pt">Sustainability Practices Recognized</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#58; As of September 2025, the Company achieved a 30.0 ESG risk rating with Sustainalytics, a leading sustainability research and ratings firm. This score places First Majestic in the Medium risk category, and in the top 40% peer group, for the first time in the history of Sustainalytics&#8217; coverage of the Company, reflecting strong environmental and social risk management practices.</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Aptos',san-serif;font-size:12pt;font-weight:400;line-height:97%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:97%;padding-left:12.37pt">Cash Costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%">&#58; Cash costs per attributable payable AgEq ounce for the quarter were $14.83, representing a 2% improvement when compared with $15.17 per ounce in the third quarter of 2024. This decrease in cash costs was primarily attributed to a 39% increase in AgEq ounces, driven by the attributable production increase of 2.1 million AgEq ounces from Los Gatos, along with a 27% increase in AgEq production at San Dimas as a result of operational </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:97%">efficiencies and increased plant throughput rates. The decrease in cash costs was partially offset by the strengthening of the Mexican peso against the US dollar, increased maintenance and energy costs across all four of the Company's operational mine sites, and higher royalties and worker participation costs due to increased production and metal prices. Despite the significant increase in production, AgEq ounces were impacted by a rising silver price that compressed the gold-to-silver ratio, which reduced reported AgEq ounces by 5% and correspondingly increased costs per ounce.</font></div><div><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">AISC&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> AISC per attributable payable AgEq ounce in the third quarter was $20.90, an improvement compared to $21.03 per ounce in the third quarter of 2024. This decrease was primarily attributable to the decrease in cash costs along with reduced sustaining development costs as the Company continues to focus on growth and expansion. Additionally, corporate general and administrative (&#8220;G&#38;A&#8221;) expenses per AgEq ounce decreased compared to the third quarter of 2024, reflecting restructuring efforts implemented in 2024 to optimize the workforce and reduce labour costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Third Quarter Financial Highlights</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Record Treasury and Working Capital Position&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company ended the quarter with a record $568.8&#160;million cash in treasury, representing an 85% increase compared to $308.3 million at December 31, 2024, and the highest treasury position in the Company&#8217;s history. Cash in treasury includes $133.4 million that is held in restricted cash, representing a 26% increase when compared to $106.1 million at December 31, 2024. The increase in restricted cash was mostly driven by the strengthening of the Mexican Peso at September&#160;30, 2025. Further, working capital reached a record high of $542.4 million, representing a 142% increase compared to $224.5 million at December 31, 2024. Refer to the &#8220;Liquidity, Capital Resources and Contractual Obligations&#8221; section below for further details.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Record Quarterly Revenue&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the third quarter, the Company generated a third consecutive quarterly revenue record of $285.1 million, representing a 95% increase compared to $146.1 million in the third quarter of 2024. This significant revenue growth was primarily driven by a 34% increase in payable AgEq ounces sold, mainly driven by the addition of Los Gatos, which contributed $108.7 million in revenue. Additional contributions came from improved production at San Dimas, which contributed $71.4 million in revenue, representing a 44% increase compared to $49.7 million in the third quarter of 2024, largely driven by the 27% increase in AgEq production. Continued strong performance at Santa Elena contributed $84.7 million in revenue, representing a 9% increase compared to $77.6 million in the third quarter of 2024. The total revenue increase resulting from an increase in payable AgEq ounces sold was $73.4 million. The higher revenues also benefited from a higher average realized silver price per AgEq ounce of $39.03 per ounce, representing a 31% increase when compared to the third quarter of 2024, increasing revenues by $66.3 million.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Record Mine Operating Earnings&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company achieved mine operating earnings of $99.1 million, representing a significant increase of $70.6 million compared to mine operating earnings of $28.5&#160;million in the third quarter of 2024. The increase was driven by the addition of the Los Gatos mine, which contributed to an increase of $48.4 million in mine operating earnings in the third quarter. Additionally, continued operational improvement at San Dimas increased mine operating earnings by $16.8 million compared to the third quarter of 2024. The increase in mine operating earnings was partially offset by the strengthening of the Mexican peso against the US dollar, higher maintenance costs across all operational mine sites, and increased energy costs due to higher consumption. Mine operating earnings were further impacted by a higher non-cash depletion expense, primarily driven by the addition of Los Gatos and increased overall production. The Company's operating earnings are inclusive of $37.6 million in non-cash depletion expense. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%;padding-left:13.02pt">Record Cash Flow from Operations&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Operating cash flow before changes in working capital and taxes paid in the quarter was $141.3 million, representing a significant increase compared to $39.8 million in the third quarter of 2024.  This improvement was primarily driven by an </font><font style="color:#1f497d;font-family:'Verdana',sans-serif;font-size:9pt;font-weight:400;line-height:112%">i</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">ncrease in mine operating earnings, excluding depletion, depreciation and amortization, of $93.5 million resulting from strong performance at San Dimas and Los Gatos. The increase in cash flow from operations occurred despite profit sharing costs relating to 2024 that were paid during the quarter. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Record EBITDA&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">EBITDA for the quarter was $128.6 million, representing a significant increase compared to $36.9 million in the third quarter of 2024. The increase in EBITDA was primarily attributable to the above-mentioned  increases in mine operating earnings. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Record Adjusted EBITDA</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; Adjusted EBITDA normalized for non-cash or non-recurring items such as share-based payments, unrealized gains on marketable securities, restructuring costs, and abnormal maintenance costs for the quarter was $138.6 million, representing a significant increase compared to $39.8 million in the third quarter of 2024. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Net Earnings&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net earnings for the quarter were $43.0 million (EPS of $0.06), representing a significant increase compared to a net loss of $26.6 million (EPS of ($0.09)) in the third quarter of 2024. The increase in net earnings was primarily attributed to the higher mine operating earnings and a non-cash deferred income tax recovery of $4.6 million (EPS of $0.01), compared to a non-cash deferred income tax expense of $13.2 million (EPS ($0.04)) in the third quarter of 2024. This was partially offset by a non-cash depletion and depreciation expense of $54.9 million (EPS of ($0.11)), compared to $31.9 million (EPS of ($0.11)) in the third quarter of 2024, driven by higher production and the addition of Los Gatos. Net earnings did not include $56.6 million in gains from the Company's portfolio of marketable securities, which are included within other comprehensive income. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Increased Adjusted Net Earnings&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted net earnings excluding non-cash or non-recurring items such as share-based payments, unrealized gains on marketable securities, restructuring costs, abnormal costs, and deferred income tax for the quarter was $32.4&#160;million&#160;(Adjusted EPS&#160;of&#160;$0.07), representing a significant increase compared to an adjusted net loss of $10.5&#160;million (Adjusted EPS of ($0.03)) in the third quarter of 2024. </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Capital Expenditures</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; The Company&#8217;s total capital expenditures in the third quarter were $52.1 million, representing a 50% increase compared to $34.7 million in total capital expenditures in the third quarter of 2024 driven by the addition of the Los Gatos mine, along with the Company's continued focus on growth and mine development in line with its updated 2025 guidance. Total capital expenditures consisted of $18.6 million in underground development (2024 - $13.8 million), $18.1 million in exploration (2024 - $14.8 million), and $15.3 million in property, plant and equipment (2024 - $6.1 million).</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_16"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:61.400%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">ACQUISITION OF GATOS SILVER INC.</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 16, 2025, the Company completed its acquisition of Gatos Silver, Inc. (&#8220;Gatos&#8221;) pursuant to a merger agreement that was entered into between the parties on September 4, 2024 (the &#34;Merger Agreement&#34;), and as a result of such acquisition, Gatos became a wholly-owned subsidiary of the Company. The Company issued an aggregate of 177,433,006 common shares of the Company to acquire all of the issued and outstanding shares of common stock of Gatos (in addition to a nominal amount of cash in lieu of fractional First Majestic common shares), resulting in former Gatos shareholders holding approximately 38% of the issued and outstanding common shares of the Company post-closing on a fully diluted basis at the closing of the transaction. In addition, the Merger Agreement provided for the issuance by First Majestic of options to purchase an aggregate of 8,242,244 First Majestic options in exchange for all existing Gatos options at exercise prices adjusted by the exchange ratio of 2.55 (&#34;the Exchange Ratio&#34;). All existing RSUs and DSUs of Gatos were settled for an aggregate of 2,207,762 First Majestic common shares.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gatos holds a 70% interest in the Los Gatos Joint Venture (&#8220;LGJV&#8221;), which owns the producing Los Gatos underground silver mine in Chihuahua, Mexico. The Los Gatos mine consists of approximately 103,000 hectares of mineral rights, representing a highly prospective and under-explored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets. The acquisition was completed in order to support the Company's growth strategy by adding another cornerstone asset within a world-class mining jurisdiction to the Company's portfolio.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management has concluded that Gatos constitutes a business and, therefore, the acquisition is accounted for in accordance with IFRS 3 - Business Combinations. Given the delivery of the consideration and the fulfillment of the covenants as per the Merger Agreement, the transaction was deemed to be completed with First Majestic identified as the acquirer. Based on the opening market price of the Company&#8217;s common shares on January 16, 2025 (the &#8220;Acquisition Date&#8221;), the total consideration of the Gatos acquisition is $1.05 billion. The Company began consolidating the operating results, cash flows and net assets of Gatos from January 16, 2025 onwards</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The determination of the fair value of assets acquired and liabilities assumed is based on a detailed valuation of Gatos' net assets, utilizing income, market, and cost valuation methods conducted with the assistance of an independent third party. The determination of the fair value of assets acquired and liabilities assumed was previously reported based on preliminary estimates at the Acquisition Date. During the second quarter of 2025, the Company finalized the full and detailed valuation of the fair value of the net assets of Gatos acquired using income, market, and cost valuation methods with the assistance of an independent third party.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consideration and Purchase Price Allocation</font></div><div style="margin-bottom:1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total consideration for the acquisition was valued at $1.05 billion on the Acquisition Date. The following table summarizes the consideration paid as part of the purchase price&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.358%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.847%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Consideration</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">177,433,066 Consideration Shares issued to Los Gatos shareholders with an accounting fair value of $5.68 per share</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$1,007,819&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,207,762 Consideration DSUs and RSUs of Los Gatos converted to First Majestic common shares with an accounting fair value of $5.68 per share</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,540&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,242,244 Consideration Options of Los Gatos converted to First Majestic Options with an accounting fair value of $3.51 per option</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">26,023&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Other consideration</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,841&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total consideration</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$1,054,223</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.11pt">Fair value of Consideration Shares was estimated at $5.68 per share based on the opening price of First Majestic&#8217;s common shares on the New York Stock Exchange on January 16, 2025. </font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.11pt">Other consideration is made up of cash payments for withholding taxes and payments made for fractional shares.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:9.11pt">The fair value of Consideration Options was estimated using the Black-Scholes method as at the Acquisition Date, using the following assumptions&#58;</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:84.167%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.592%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Risk-free interest rate (%)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.94% - 3.05%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected life (years)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.99</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected Volatility (%)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">58</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Expected dividend yield (%)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">0.28</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the purchase price allocated to the identifiable assets and liabilities based on their estimated fair values on the Acquisition Date&#58;</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:82.977%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.228%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Allocation of Purchase Price</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$167,401&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Inventories</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,107&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Trade and other receivables</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,644&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">VAT receivables</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,026&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prepaid expenses and other</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,505&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mining interest</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,658,689&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Property, plant and equipment</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">185,261&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Right-of-use assets</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">281&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(65,037)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income taxes payable</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,717)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Lease obligations</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(415)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Decommissioning liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,112)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(511,314)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net assets acquired</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$1,461,319</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(407,096)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net assets attributable to the Company</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$1,054,223</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)  Trade and other receivables are expected to be fully recoverable.</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) Cash acquired by the Company on the Acquisition Date was $159.6 million net of withholding taxes on RSU settlements amounting to $7.8 million.</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial and operating results of Gatos are included in the Company&#8217;s consolidated financial statements effective January 16, 2025. During the three and nine months ended September 30, 2025, the acquisition of Gatos contributed $108.7 and $302.3 million of revenues, respectively, and $38.6 million and $62.7 million of net earnings, respectively, to the Company&#8217;s financial results since January 16, 2025.</font></div><div><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Had the business combination been effective at January 1, 2025, the Company's pro forma revenues and net earnings for the three and nine months ended September 30, 2025 would have been $285.1 million and $43.0 million, and $810.7 million and $109.0 million, respectively. Total transaction costs of $5.6 million related to the acquisition were expensed in Q1 2025.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company used discounted cash flow models to determine the fair value of the depletable mining interest. The expected future cash flows are based on estimates of future silver, gold, lead, zinc and copper prices, estimated quantities of mineral reserves and mineral resources, expected future production costs and capital expenditures based on the life of mine plans at the Acquisition Date. The discounted future cash flow models used a 6.00% discount rate based on the Company&#8217;s assessment of country risk, project risk and other potential risks specific to the acquired mining interest. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The significant assumptions used in the determination of the fair value of the mining interests were as follows&#58;</font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.763%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.442%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average prices&#58;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$28.50</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2,200</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1.25</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1.10</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$4.50</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Discount rate</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.0%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average grades over life of mine&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">150 g&#47;t</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.21 g&#47;t</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.84%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.01%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.20%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average recovery rate&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">88.20%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54.20%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">63.10%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">88.10%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Discount rate</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.00%</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine life (years)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company used a market approach to determine the fair value of exploration potential by comparing the costs of other precedent market transactions on a dollar per hectare basis. Those amounts were used to determine the range of area-based resources multiples implied within the value of transactions by other market participants. Additionally, the Company completed a secondary valuation by comparing the costs of other precedent transactions within the industry on a dollar per in situ ounce basis and selected a multiple within this range for additional ounces identified outside of the life-of-mine.  Management made a significant assumption in the determination of the fair value of exploration potential by using an implied multiple of $5,208 per hectare or $3.16 per silver equivalent ounce for a total of $536.4 million. The Company accounted for exploration potential through inclusion within non-depletable mineral interest.</font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_22"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:61.400%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">OVERVIEW OF OPERATING RESULTS</font></td></tr></table><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Selected Production Results for the Past Eight Quarters&#58;</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.298%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.237%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">PRODUCTION HIGHLIGHTS</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Ore processed&#47;tonnes milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Los Gatos (70%)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">213,262&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">233,480&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">193,825&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">277,858&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">269,830&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">270,203&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">271,783&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">259,919&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">256,427&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">224,394&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">233,601&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">234,156&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">219,198&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">231,190&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">219,388&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">195,279&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">183,188&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">178,957&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">215,232&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">271,726&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">281,296&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">249,155&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">253,953&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">223,200&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">234,955&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">185,298&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">203,898&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">997,002</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">1,003,804</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">944,373</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">745,124</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">678,397</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">674,570</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">588,651</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">652,731</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Los Gatos (70%)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,125,666&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,436,722&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,252,258&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,256,695&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,318,618&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,259,772&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,719,702&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,685,375&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,580,497&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,280,739&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,008,449&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,690,893&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,464,029&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,636,689&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,235,407&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,110,905&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,114,072&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,364,875&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">3,110,677&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">577,803&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">632,942&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">562,990&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">758,181&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">550,042&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">589,060&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">459,110&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">521,424&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">144,093&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">5,811&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">57,559&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">7,651,058</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">7,852,311</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">7,711,709</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">5,713,289</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">5,490,416</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">5,289,439</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">5,162,283</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">6,640,550</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Los Gatos (70%)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,408,467&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,524,949&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,444,719&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">412,669&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">306,224&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">339,784&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">406,009&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">376,203&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">376,947&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">355,205&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">582,484&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,467,344&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,242,717&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,359,378&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,191,893&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,046,340&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,141,906&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,163,792&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,513,791&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">575,193&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">628,105&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">560,622&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">755,963&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">545,031&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">585,329&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">456,179&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">516,141&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">3,863,673</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">3,701,995</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">3,704,503</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2,353,865</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">1,967,574</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2,104,181</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">1,975,176</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2,612,416</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Gold ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Los Gatos (70%)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">727&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">706&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">794&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,979&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20,637&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,408&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27,216&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27,435&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27,176&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21,713&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">28,056&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,945&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,472&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14,241&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,264&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,582&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12,043&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13,543&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18,468&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,684&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">74&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">647&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">35,681</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">33,864</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">36,469</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">39,506</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">41,701</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">39,293</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">35,903</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">46,524</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Cash cost per Ounce</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Los Gatos (per AgEq Ounce)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.51&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.44&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10.82&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Santa Elena (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15.00&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.57&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.92&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10.99&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">11.96&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.25&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.13&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">10.42&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">San Dimas (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14.29&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15.66&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.82&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15.14&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16.50&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">16.66&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15.81&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.21&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">La Encantada (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">24.06&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27.19&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26.03&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20.01&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25.24&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">23.69&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25.22&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">26.19&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Jerritt Canyon (per Au Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,491&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,186&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,260&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">14.83</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">15.08</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">13.68</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">13.82</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">15.17</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">15.29</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">15.00</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">13.01</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">All-in sustaining cost per Ounce</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:700;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Los Gatos (per AgEq Ounce)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15.36&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.70&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.07&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Santa Elena (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18.32&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">18.58&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15.46&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">13.54&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14.38&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">15.07&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">14.70&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">12.82&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">San Dimas (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">19.36&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20.10&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">17.57&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20.63&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21.44&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">21.78&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">20.49&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">17.80&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">La Encantada (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">29.72&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">31.94&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">31.68&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">25.34&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">30.10&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">27.87&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">31.64&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">34.14&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Jerritt Canyon (per Au Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,491&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,186&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,260&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated (per AgEq Ounce)</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">20.90</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">21.02</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">19.24</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">20.34</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">21.03</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">21.64</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">21.53</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">18.50</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Production cost per tonne</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Los Gatos</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">96.29&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">91.65&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">84.46&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Santa Elena</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">114.79&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">107.02&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">94.28&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">91.11&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">107.80&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">107.47&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">120.22&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">117.36&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">San Dimas</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">154.35&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">173.88&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">156.10&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">149.49&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">168.45&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">193.02&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">200.72&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #acacac;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">183.61&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">La Encantada</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">50.26&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">58.53&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">57.56&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">56.88&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">60.86&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">57.11&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">67.80&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$</font></td><td style="border-top:1pt solid #929292;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">64.70&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Consolidated</font></td><td colspan="3" style="padding:0 1pt"></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">102.53</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">104.45</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">97.71</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">96.63</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">109.81</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">113.16</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">128.23</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">122.76</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:1pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures. </font></div><div style="margin-bottom:1pt;padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2) All production and non-GAAP results shown in the table above are reported on an attributable basis to account for the 70% ownership of Los Gatos Mine. </font></div><div style="margin-bottom:1pt;padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3) Los Gatos production during Q1 2025 was from January 16, 2025 to March 31, 2025 or 74 days.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_25"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:1pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Operating Results &#8211; Consolidated Operations</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.155%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.167%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.763%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.465%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.614%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.423%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.280%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CONSOLIDATED</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change<br>'25 vs '24</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ore processed&#47;tonnes milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">997,002</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,003,804</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">678,397</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,945,181</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,941,617</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">52</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,863,673</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,701,995</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,967,574</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,270,171</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,046,931</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">96</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">86</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold ounces produced </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,681</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33,865</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,761</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">106,015</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">117,036</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(15</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pounds of lead produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,653,733</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,014,545</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,155,343</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pounds of zinc produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,894,548</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,063,947</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42,451,364</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,651,058</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,852,311</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,490,416</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,215,078</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,942,138</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash cost per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14.83</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15.08</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15.17</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14.53</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15.15</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">All-in sustaining costs per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$20.90</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$21.02</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$21.03</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$20.39</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$21.39</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total production cost per tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$102.53</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$104.45</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$109.81</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$101.64</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$116.56</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,068</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,403</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,497</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,135</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,333</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exploration drilling (m)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">79,481</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">66,360</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50,020</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">207,060</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">133,741</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td></tr></table></div><div style="margin-bottom:1pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Production</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total attributable production in the third quarter of 2025 was 7.7 million AgEq ounces, (8.1 million using 2025 guidance metal prices) consisting of 3.9 million ounces of silver, and 35,681 ounces of gold. These represent a 39% increase, a 96% increase, and a 15% decrease, respectively, compared to 5.5 million AgEq ounces, 2.0 million ounces of silver and 41,761 ounces of gold in the third quarter of 2024. Additionally, attributable production reached 7.7 million pounds of lead and 13.9 million pounds of zinc during the quarter. Total silver production in the quarter included 1.4 million ounces of attributable silver production from Los Gatos. Production at San Dimas increased by 27% compared to the third quarter of 2024 due to increased throughput and silver grades during the quarter. Finally, there was a 6% increase in silver production at La Encantada compared to the third quarter of 2024, primarily due to improved water availability, increases in ore processed and higher silver recoveries. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total ore processed amounted to 997,002 tonnes during the quarter, representing a 47% increase compared to 678,397 tonnes in the third quarter of 2024. The higher tonnage processed was primarily due to the addition of the Los Gatos, along with significantly higher tonnage at La Encantada and San Dimas up 22% and 20%, respectively, and a 7% increase at Santa Elena, compared to the third quarter of 2024. The higher throughput at San Dimas was driven by increased ore development allowing higher mining rates. This, combined with improved long hole production, enabled the buildup of an ore stockpile and supported above-nameplate mill performance during the quarter. The higher throughput at La Encantada was driven by fewer operational interruptions and improved haulage contractor availability (sustained by the deployment of a new development contractor) compared to the third quarter of 2024. Additionally, the Company continues to focus on achieving a sustainably higher mill throughput at Los Gatos by increasing mining rates, and is finalizing the selection of a new development contractor to increase development rates at the mine, targeting a sustained increase in ore throughput to 4,000 tonnes per day (&#34;tpd&#34;), based on operating days, in the second half of 2026.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash Costs and All-In Sustaining Cost per AgEq Ounce</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash costs per attributable payable AgEq ounce for the quarter were $14.83, representing a 2% improvement when compared with $15.17 per ounce in the third quarter of 2024. This decrease in cash costs was primarily attributed to a 39% increase in AgEq ounces, driven by the attributable production increase of 2.1 million AgEq ounces from Los Gatos, along with a 27% increase in AgEq production at San Dimas as a result of operational efficiencies and increased plant throughput rates. The decrease in cash costs was partially offset by the strengthening of the Mexican peso against the US dollar, increased maintenance and energy costs across all four of the Company's operational mine sites, and higher royalties and worker participation costs due to increased production and metal prices. Despite the significant increase in production, AgEq ounces were impacted by a rising silver price that compressed the gold-to-silver ratio, which reduced reported AgEq ounces by 5% and correspondingly increased costs per ounce.</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC per AgEq ounce in the third quarter was $20.90, an improvement compared to $21.03 per ounce in the third quarter of 2024. This decrease was primarily attributable to the decrease in cash costs along with reduced sustaining development costs as the Company continues to focus on growth and expansion. Additionally, corporate general and administrative (&#8220;G&#38;A&#8221;) expenses per AgEq ounce decreased compared to the third quarter of 2024, reflecting restructuring efforts implemented in 2024 to optimize the workforce and reduce labour costs.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management continues to undertake a series of cost reduction initiatives across the organization aimed at improving efficiencies, lowering production costs, capital spending, care and maintenance holding costs and corporate G&#38;A costs while also increasing production. Additionally, management continues to integrate Los Gatos into the Company&#8217;s business by identifying and realizing synergies. Current initiatives include&#58; </font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Negotiating workforce improvement processes with the National Union at San Dimas&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Reducing remnant pillar extraction at San Dimas within the mine plan and confirming remaining pillars using ore control (termita) drilling processes&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Managing over-break and under-break to reduce ore dilution impacts and optimize ore extraction at San Dimas, Los Gatos, and Santa Elena&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Increasing mine development rates at Los Gatos, and La Encantada to access additional ore&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Renegotiating consumable contracts and reducing the use of external consultants&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Optimizing the use of reagent and grinding media consumption&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Implementing LNG-based supplemental power at San Dimas to lower energy costs, improve power and plant reliability, and reduce our carbon footprint&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">At San Dimas, changes in shift line-up and other productivity-enhancing adjustments are being implemented, alongside the use of quality assurance and quality control on operating drilling methods to verify stope positioning, grade, and tonnage. These efforts are also expected to increase development rates and open additional ore stopes&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Mobilizing a mining contractor at Cerro Los Gatos in Q4 2025 to accelerate lower ramp and South-East Deeps development rates to gain access to additional ore and support an increase in sustainable throughput to 4,000 tpd  in H2 2026&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Mobilizing a development contractor  at La Encantada in Q3 to accelerate ore and waste development allowing access to higher grade ore in Ojuelas and other areas of the mine&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Temporarily suspending mining at the Santa Elena District mining area mine and refocusing on mine extraction from Ermita&#241;o and the development of the Luna resource located east of the Ermita&#241;o ore body with an anticipated decrease in mining cost per tonne&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Optimizing mining sequencing with the goal of improving ore extraction at San Dimas, Los Gatos, Santa Elena and La Encantada&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Converting from contractor haulage at La Encantada to owner haulage to support increased mill throughput rates and lower unit haulage costs&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Improving La Encantada metallurgical recoveries through the addition of lead nitrate to processing&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Lowering holding costs at the Company&#8217;s suspended operations including the Jerritt Canyon Gold Mine&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Identifying and realizing synergies at Los Gatos, including but not limited to&#58; evaluating global supply chain contracts, minimizing reliance on external consultants, utilizing internal maintenance expertise, capturing corporate G&#38;A savings, enhancing operating efficiencies, reducing overbreak and ore dilution, and optimizing capital expenditures to further reduce costs and improve operational performance.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Development and Exploration</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the quarter, the Company completed 9,068 m of underground development and 79,481 m of exploration drilling, representing 7% and 59% increases respectively, compared to 8,497 m of underground development and 50,028 m of exploration drilling, respectively, in the third quarter of 2024. Throughout the quarter, up to 30 drill rigs were active consisting of five rigs at Los Gatos, eight rigs at Santa Elena, 13 rigs at San Dimas, two rigs at La Encantada and two rigs at Jerritt Canyon.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_28"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Los Gatos Silver Mine, Chihuahua, Mexico </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Los Gatos Silver Mine is located in the state of Chihuahua, Mexico, approximately 120 kilometres (&#8220;km&#8221;) south of Chihuahua City. The mine operates with a processing capacity of 4,000 tpd, utilizing a flotation circuit to produce high-grade zinc, lead, and copper concentrates. The Los Gatos Silver Mine is part of the larger Los Gatos District, which hosts multiple mineralized zones with significant exploration potential. The Company owns 70% of the Los Gatos Mine through its interest in the Los Gatos Joint Venture, which covers a land package of approximately 103,000 ha. </font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.334%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.632%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.483%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.632%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.634%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Los Gatos (disclosed 70% ownership interest)</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-YTD</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total ore processed&#47;tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">213,262</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">233,480</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">193,825</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">640,567</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">236</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">230</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">262</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">242</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average gold grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.20</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.24</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.22</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average zinc grade (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average lead grade (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average copper grade (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.09</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.07</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.10</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.08</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">87</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">88</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">88</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead Recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">86</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">88</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">87</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc Recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper Recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">63</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt 0 7pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Attributable Production</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt 0 7pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,408,467</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,524,949</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,444,719</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,378,135</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">727</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">706</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">794</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,227</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Zinc pounds produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,894,548</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,063,947</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,492,869</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42,451,364</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lead pounds produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,653,733</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,014,545</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,487,065</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,155,343</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Copper pounds produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">241,475</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">205,288</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">237,860</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">684,623</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,125,666</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,436,722</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,252,258</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,814,646</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt 0 7pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt 0 7pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash cost per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$12.51</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$12.44</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$10.82</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$11.93</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">All-In sustaining costs per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15.36</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$13.70</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$13.07</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14.01</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total production cost per tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$96.29</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$91.65</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$84.46</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$91.02</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 7pt 0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,359</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,924</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,687</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,970</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exploration drilling (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,043</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,317</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,880</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39,240</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:1pt;padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:3.47pt">These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures.</font></div><div style="margin-top:1pt;text-align:justify"><font><br></font></div><div style="margin-top:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 16, 2025, the Company completed its acquisition of Gatos Silver, Inc., and as a result, Gatos Silver became a wholly-owned subsidiary of the Company. Gatos Silver, Inc. holds a 70% interest in the Los Gatos Joint Venture (&#8220;LGJV&#8221;), which owns and operates the producing Los Gatos Silver Mine in Chihuahua, Mexico. Los Gatos consists of approximately 103,000 ha of mineral rights, representing a highly prospective and under-explored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets. The acquisition is consistent with the Company's growth strategy by adding another cornerstone asset within a world-class mining jurisdiction to the Company's portfolio. During the third quarter, Los Gatos produced</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,125,666 attributable AgEq ounces, consisting of 1,408,467 ounces of silver, 13,894,548 pounds of zinc, 7,653,733 pounds of lead, and 727 ounces of gold. Production at Los Gatos was impacted by lower mining rates at the beginning of the quarter due to an increase in mobile equipment maintenance which resulted in lower </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">equipment availability. However, mining rates normalized throughout the quarter and the Company expects to continue strong production throughout the remainder of the year to meet its updated 2025 guidance.</font></div><div style="margin-top:1pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Production at Los Gatos represented 28% of the Company's total production in AgEq ounces.</font></div><div style="margin-top:1pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The mill processed a total of 213,262 tonnes of ore, with head grades of 236 g&#47;t silver, 4% zinc, 2% lead, and 0.22 g&#47;t gold. Management continues to focus on achieving a sustainably higher mill throughput at Los Gatos by increasing mining rates. In line with the Company's updated 2025 guidance, the Company is finalizing the selection of a new development contractor to increase development rates at the mine, targeting a sustained increase in ore throughput to 4,000 tpd, based on operating days, in the second half of 2026. </font></div><div style="margin-top:1pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Silver, zinc, lead, and gold recoveries during the quarter averaged 87%, 72%, 86%, and 48%, respectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash costs per AgEq ounce for the quarter were $12.51 with fewer AgEq ounces produced in the quarter due to additional maintenance affecting the availability of equipment and mining rates. Costs during the quarter were also impacted by the strengthening of the Mexican peso, the decreased AgEq metal price ratio, along with the previously mentioned maintenance activities. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC per AqEq ounce for the quarter was $15.36 reflecting the increased investment in sustaining property plant and equipment (&#8220;PP&#38;E&#8221;). The Company continues to focus on identifying synergies and integrating Los Gatos Silver Mine with its business.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During the quarter, five drill rigs completed 13,043 m of exploration drilling on the property, and a total of 1,359 m of underground development drilling were completed as Los Gatos. Drilling was slightly behind plan due to drill contractor changes and the associated ramp up. Drilling continued at the South-East Deeps, Central Deeps and North-West Deeps zones, as well as at other greenfield targets. Total exploration costs in the third quarter were $2.0 million.</font></div><div style="margin-bottom:6pt;margin-top:1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:1pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_31"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Santa Elena Silver&#47;Gold Mine, Sonora, Mexico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Santa Elena Silver&#47;Gold Mine is located approximately 150 km northeast of the city of Hermosillo, Sonora, Mexico. The operating plan for Santa Elena involves the processing of ore in a 3,200 tpd cyanidation circuit from underground reserves. Santa Elena consists of a central processing plant that can receive ore from separate underground mining operations, Santa Elena and Ermita&#241;o. The Company owns 100% of the Santa Elena mine including mining concessions totaling 102,244 ha.</font></div><div style="margin-bottom:3pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.851%"><tr><td style="width:1.0%"></td><td style="width:28.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.481%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.481%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.481%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.692%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.990%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-YTD</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change<br>'25 vs '24</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total ore processed&#47;tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">277,858</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">269,830</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">259,919</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">817,892</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">740,740</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">71</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average gold grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.56</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.54</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.50</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(27</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.56</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.40</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(25</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">67</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">67&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">92</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">412,669</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">306,224</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">376,203</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,058,677</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,108,355</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,979</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,637</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,435</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(24</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">63,024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">76,324</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(17</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,256,695</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,318,618</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,685,375</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(16</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,835,085</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,546,611</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash cost per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$13.57</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$11.96</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$13.83</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$12.11</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">All-In sustaining costs per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$18.32</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$18.58</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14.38</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$17.46</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14.71</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total production cost per tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$114.79</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$107.02</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$107.80</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$105.44</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$111.45</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,105</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,268</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,263</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,680</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,842</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exploration drilling (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,872</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,751</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,796</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59,432</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,298</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:1pt;padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:3.47pt">These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures.</font></div><div style="margin-top:1pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Santa Elena produced 2,256,695 AgEq ounces during the quarter, representing a decrease of 16% compared to the third quarter of 2024, consisting of 412,669 ounces of silver and 20,979 ounces of gold. Production was impacted primarily by lower grade gold ore from the Ermita&#241;o mine, as expected under the 2025 mine plan.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The mill processed a total of 277,858 tonnes of ore, representing a 7% increase compared to the third quarter of 2024. Silver and gold head grades averaged 71 g&#47;t and 2.56 g&#47;t, respectively, representing a 4% increase and a 27% decrease respectively. Lower gold ore grades from the Ermita&#241;o mine were expected under the 2025 mine plan.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Silver and gold recoveries during the quarter averaged 65% and 92%, respectively, compared to 67% and 94% in the same period last year. The slightly lower recoveries were anticipated and are a direct correlation to lower feed grades.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash costs per AgEq ounce in the third quarter were $15.00, representing a 25% increase compared to $11.96 per AgEq ounce in the third quarter of 2024. The increase was primarily attributed to the strengthening of the Mexican peso against the US dollar and a decrease in silver equivalent production compared to the third quarter of 2024. Despite the higher silver production, AgEq ounces were impacted by a rising silver price that compressed the gold-to-silver ratio, which reduced the AgEq ounces and correspondingly increased the cash costs per AgEq ounce. Cash costs were also impacted by higher maintenance costs at the mill related to the filter press, along with the accompanying increases in energy costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC per AgEq ounce for the quarter was $18.32, representing a 27% increase compared to $14.38 per AgEq ounce in the third quarter of 2024. This was primarily attributable to the increase in cash costs and higher sustaining PP&#38;E costs and lease payments compared to the third quarter of 2024.<br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Santa Elena mine is subject to a gold streaming agreement with Sandstorm Gold Ltd. (&#8220;Sandstorm&#8221;), which requires the Company to sell to Sandstorm 20% of its gold production over the life-of-mine from its leach pad and underground operations. The selling price to Sandstorm is the lesser of the prevailing market price or $450 per ounce, subject to a 1% annual inflation adjustment. During the three and nine months ended September 30, 2025, the Company delivered nil ounces (September&#160;30, 2024 - 21 ounces) of gold to Sandstorm. On October 20, 2025, Royal Gold Inc. (&#34;Royal Gold&#34;), acquired Sandstorm, and as a result, Royal Gold is now the counterparty to the aforementioned gold streaming agreement.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Orogen Royalties Inc., formerly Evrim Resource Corp., retains a 2% net smelter returns (&#34;NSR&#34;) royalty from the sale of mineral products extracted from the Ermita&#241;o mining concessions. In addition, there is an underlying NSR royalty where Osisko Gold Royalties Ltd. retains a 2% NSR from the sale of mineral products extracted from the Ermita&#241;o mining concessions. For the three and nine months ended September 30, 2025, the Company incurred $3.4 million and $9.3 million (September&#160;30, 2024 - $3.0 million and $7.9 million) in NSR royalty payments in connection with production from Ermita&#241;o.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the quarter, a total of 2,105 m of underground development drilling was completed at Santa Elena, representing a 7% decrease when compared with the 2,263 m in the third quarter of 2024. During the quarter, eight drill rigs, consisting of five surface rigs and three underground rigs, completed 19,872 m of drilling on the property. Drilling focused on the newly discovered Santo Ni&#241;o and Navidad resources, and the conversion of Inferred Mineral Resources to Indicated Mineral Resources at Ermita&#241;o-Luna to support mine development planning. Total exploration costs in the third quarter were $3.8 million, representing a 33% increase compared to $2.9 million in the third quarter of 2024. The Company is working to continue to grow and define the mineral deposits at the Navidad and Santo Ni&#241;o targets to expand the Mineral Resource and Mineral Reserve base for the Santa Elena operation. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the end of the third quarter all mining activity at the Santa Elena underground mine had been temporarily stopped due to expanded ore availability in the Ermitano and Luna ore bodies, which will reduce mining costs for Q4 2025 and 2026.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_34"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">San Dimas Silver&#47;Gold Mine, Durango, Mexico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The San Dimas Silver&#47;Gold Mine is located approximately 130 km northwest of the city of Durango, Durango State, Mexico and consists of 71,868&#160;ha of mining claims located in the states of Durango and Sinaloa, Mexico. San Dimas is the largest producing underground mine in the state of Durango with over 250 years of operating history. The San Dimas operating plan involves processing ore from several underground mining areas with a 2,700 tpd capacity milling operation that produces silver&#47;gold dor&#233; bars. The mine is accessible via a 40-minute flight from the Durango International Airport to a private airstrip in the town of Tayoltita, or by improved roadway. The Company owns 100% of the San Dimas mine.</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.429%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.465%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.465%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.465%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.316%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.977%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.685%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-YTD</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change<br>'25 vs '24</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total ore processed&#47;tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">234,156</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">219,198</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">195,279</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">684,545</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">557,424</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">222</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">197</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">188</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">208</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">205</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average gold grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.90</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.12</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.98</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.23</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">88</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">90</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">91</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">92</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">93</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">93</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,467,344</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,242,717</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,046,340</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,069,439</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,352,038</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,945</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,472</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,582</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,658</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38,168</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,690,893</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,464,029</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,110,905</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,791,612</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,589,852</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash cost per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14.29</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15.66</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$16.50</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$14.56</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$16.30</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">All-In sustaining costs per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$19.36</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$20.10</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$21.44</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$18.99</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$21.21</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total production cost per tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$154.35</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$173.88</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$168.45</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$161.19</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$186.89</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,285</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,255</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,452</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17,256</font></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exploration drilling (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,289</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,746</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,172</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">90,570</font></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">86,784</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:3.47pt">These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">S</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">an Dimas produced </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,690,893</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> AgEq ounces during the quarter, the highest quarterly production since Q4 2023, representing a significant </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27% increase compared to the third quarter of 2024,</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> consisting of </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,467,344</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ounces of silver and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13,945</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ounces of gold. Silver production increased by </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">40%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, while gold production increased by </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, when compared to the</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> third quarter of 2024</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The significantly strong q</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">uarterly performance was a result of increased throughput and silver grades, partially offset by slightly lower gold grades.</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operational performance at San Dimas continued to benefit from enhanced labour practices and improved efficiencies during the third quarter of 2025. These ongoing advancements supported the site&#8217;s strong production results and reflect the sustained progress in workforce engagement and process optimization.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The mill processed a total of 234,156 tonnes of ore, representing a significant increase of 20% compared to the third quarter of 2024. Silver and gold grades averaged 222 g&#47;t and 2.00 g&#47;t, respectively, representing an 18% increase and 6% decrease, respectively when compared to 188 g&#47;t and 2.12 g&#47;t, respectively, in the same period last year. Higher throughput was driven by increased ore development and mining rates, which also enabled the buildup of an ore stockpile and supported above-nameplate mill performance during the quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Silver and gold recoveries during the quarter averaged 88% and 92%, respectively, consistent with 89% and 95%, respectively, in the third quarter of 2024.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the third quarter, cash cost per AgEq ounce was $14.29, representing a 13% decrease compared to $16.50 per AgEq ounce in the third quarter of 2024. This was primarily attributable to the increase in production compared</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to the</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> third quarter of 2024, driven by increased throughput and silver grades. This was partially offset by the strengthening of the Mexican peso against the US dollar, along with higher maintenance, energy and diesel generator rental costs driven by weather-related events that impacted the start of the quarter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC per AgEq ounce for the quarter was $19.36, representing a 10% decrease compared to $21.44 per AgEq ounce in the third quarter of 2024. This was primarily attributable to the decrease in cash costs, partially offset by higher profit-sharing costs due to higher production and metal prices.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The San Dimas mine is subject to a gold and silver streaming agreement with Wheaton Precious Metals Corp. (&#34;Wheaton&#34; or &#34;WPMI&#34;), which entitles Wheaton to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1 gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment commencing in May 2019) and the prevailing market price for each gold equivalent ounce delivered. Should the average gold to silver ratio over a six-month period exceed 90&#58;1 or fall below 50&#58;1, the fixed exchange ratio would be increased to 90&#58;1 or decreased to 50&#58;1, respectively. The fixed gold to silver exchange ratio as of September 30, 2025, was 90&#58;1. During the three and nine months ended September&#160;30, 2025, the Company delivered 7,235 and 22,853 ounces (September&#160;30, 2024 -  7,022 and 21,756 ounces) of gold to WPMI at $643 and $640 per ounce (September&#160;30, 2024 - $637 and $634 per ounce).  </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A total of 4,285 m of underground development was completed in the third quarter, representing a 21% decrease compared to 5,452 m in the third quarter of 2024. During the quarter, a total of 13 drill rigs consisting of two surface rigs and 11 underground rigs completed 32,289 m of exploration drilling on the property, an 11% increase compared to 29,172 m in the third quarter of 2024. Total exploration costs were $3.4 million, representing a 4% increase compared to $3.3 million in the third quarter of 2024. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_37"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">La Encantada Silver Mine, Coahuila, Mexico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon. La Encantada has 4,076 ha of mineral concessions and surface land ownership of 1,343 ha. La Encantada also has a 4,000 tpd cyanidation plant, a camp with 120 houses as well as administrative offices, laboratory, general store, hospital, airstrip and all the necessary infrastructure required for such an operation. The mine is accessible via a two-hour flight from the Durango International Airport to the operation&#8217;s private airstrip, or via an improved road from the closest city, Muzquiz, Coahuila State, which is 225 km away. The Company owns 100% of the La Encantada mine.</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.060%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.465%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.465%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.977%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.275%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.238%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change<br>'25 vs '24</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ore processed&#47;tonnes milled</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">271,726</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">281,296</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">223,200</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">802,177</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">643,453</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average silver grade (g&#47;t)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">106</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">110</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">103</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">120</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver recovery (%)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">66</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">66</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Production</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">575,193</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">628,105</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">545,031</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,763,920</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,586,539</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gold ounces produced </font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(49</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">105</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">138</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(24</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Silver equivalent ounces produced</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">577,803</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">632,942</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">550,042</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,773,735</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,598,212</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash cost per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$24.06</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$27.19</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$25.24</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$25.81</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$24.66</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">All-In sustaining costs per AgEq Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$29.72</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$31.95</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$30.10</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$31.14</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$29.72</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total production cost per tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$50.26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$58.53</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$60.86</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(17</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$55.42</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$61.49</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Underground development (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,319</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">956</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">781</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,229</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,470</font></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exploration drilling (m)</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,755</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,546</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,862</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,296</font></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,469</font></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">114</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:3.47pt">These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; on pages 51 to 61 for further details on these measures and a reconciliation of non-GAAP to GAAP measures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the quarter, La Encantada produced 575,193</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ounces of silver, representing a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">increase</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> compared to the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">third quarter of</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 2024, driven primarily by a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22% increase in</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ore processed, partially offset by </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9% decrease in</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> silver grades and a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4% decrease in</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> silver recovery. </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Production at La Encantada was partially impacted by lower ore grades as mine development activities were affected by difficult ground conditions. A mining contractor was engaged to accelerate mine development, and as a result, ore flow and development rates have increased to targeted levels. Silver production returned to targeted levels by the end of Q3 2025.</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The mill processed a total of 271,726 tonnes of ore, representing a 22% increase compared to 223,200 tonnes of ore in the third quarter of 2024, with an average silver grade of 100 g&#47;t, compared to an average silver grade of 110 g&#47;t in the third quarter of 2024. The significant increase in processing rates compared to the third quarter of 2024 was supported by improved water availability compared to the third quarter of 2024. Water inventory levels at the plant remained at full capacity during the third quarter of 2025, enabling ore throughput rates to return to normal levels.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Silver </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">recovery for the quarter was </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">66%, representing a 4% decrease when compared to 69% in the third quarter of 2024. Lower head grades and the presence of manganese in the ore during the quarter both contributed to the decrease in recovery compared to the third quarter of 2024. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash costs per AgEq ounce for the quarter were $24.06, representing a 5% decrease compared to $25.24 per AgEq ounce in the third quarter of 2024. This was primarily attributed to the 5% improvement in AgEq ounces compared to the third quarter of 2024. At the end of the quarter, the Company was mining in three new zones, San Javier, Milagros, and Bonanza, and saw significant improvements in grades and recoveries, which are expected to improve production and reduce costs per ounce in future periods. The decrease in costs was partially offset by the strengthening of the Mexican peso against the US dollar along with increases in maintenance and contractor costs compared to the third quarter of 2024. Mining contractors were used to accelerate mine development and stabilize ground conditions during the quarter. In addition, the Company is investing in an owner operated haulage fleet that will commission in Q4 2025, resulting in lower haulage and mining costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC per AgEq ounce for the quarter was $29.72, representing a 1% decrease when compared with $30.10 in the third quarter of 2024. This was primarily due to lower cash costs, partially offset by increased sustaining development and PP&#38;E costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the Company sold a portfolio of its existing royalty interests to Metalla Royalty and Streaming Limited (&#8220;Metalla&#8221;). Under the agreement, the Company has granted Metalla a 100% gross value royalty for the first 1,000 ounces of gold produced annually from the La Encantada property. For the three and nine months ended September 30, 2025, the Company has incurred $0.1 million and $0.2 million (September&#160;30, 2024 - $nil and one tenth million and $0.3 million) in royalty payments from gold production at La Encantada.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A total of 1,319 m of underground development was completed in the third quarter at La Encantada, representing a 69% increase when compared with 781 m in the third quarter of 2024. During the quarter, up to two drills rigs consisting of one surface rig and one underground rig completed 1,755 m of drilling on the property. 2025 drilling is slightly behind plan, having shifted from underground to surface-focused, where the Company is currently testing a new exploration target, La Esquina. Total exploration costs in the third quarter were $0.6 million, representing a 10% increase when compared to $0.5 million in the third quarter of 2024.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_40"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">First Mint LLC, Nevada, United States</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Mint, LLC (&#34;First Mint&#34;) is the Company&#8217;s operating minting facility located in Nevada, United States. The state-of-the-art facility produces an array of high-quality silver bullion products and provides manufacturing capacity for third-party demand. All products are crafted from silver sourced directly from First Majestic&#8217;s mining operations in Mexico providing better margins and controlling the supply chain, while capitalizing on the strong investment demand for physical silver. First Mint allows the Company to sell a greater portion of its silver production directly to its shareholders and bullion customers. First Mint operates some of the most innovative processing equipment in the precious metals industry, including an environmentally friendly flameless tunnel, which uses significantly less electricity and produces near zero emissions when compared to traditional minting processes. The Company owns 100% of First Mint.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.418%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.392%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.418%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.751%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.640%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.392%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.788%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.788%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.649%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">First Mint</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025-YTD</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024-YTD</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Change<br>'25 vs '24</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ounces sold</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">266,583</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">231,506</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,852</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">741,954</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">227,701&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial Results</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenue ($ thousands)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$11,112&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$7,775&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$2,665&#160;</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$26,753&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$6,950</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Average realized price per ounce - Bullion</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</font></div></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$41.68&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$33.58&#160;</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$31.78&#160;</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$36.06&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$30.52&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:2pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) This table is inclusive of sales from both the Company's bullion store and its minting facility in Nevada, United States.</font></div><div style="margin-top:2pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2) Average realized silver price per ounce is disclosed on the Company's financial statements in Note 5 - Segmented Information.</font></div><div style="margin-top:2pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commissioning for First Mint commenced in March 2024, and First Mint officially celebrated its inauguration on September 26, 2024. While silver bullion sales by First Mint commenced in March 2024, the inauguration celebrated the mint&#8217;s progress to-date on implementing innovative production and fulfillment processes at the facility. During this time, the Mint also commissioned several pieces of new equipment including coin presses, lasers, etching equipment for bar and coin manufacturing. First Mint achieved ISO 9001 certification in April 2025. This quality certification allows silver products sold by First Mint to be eligible for Individual Retirement Accounts (&#8220;IRAs&#8221;), permitting investors to hold silver products purchased from First Mint in their IRAs. First Mint enables First Majestic to turn its mined silver into an array of finished bullion products for direct sale to the public and offers manufacturing capacity for third-party custom projects.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the third quarter, First Mint sold 266,583 ounces of silver, representing a significant increase compared to 83,852 ounces in the third quarter of 2024. The ounces sold through First Mint accounted for 7% of the Company&#8217;s total silver production and 11% of the total silver dor&#233; production during the third quarter of 2025. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total revenues for First Mint during the third quarter of 2025 were $11.1 million, representing a significant increase compared to revenues of $2.7 million in the third quarter of 2024. The average realized price for the quarter was $41.68 per ounce, representing a 31% increase compared to the average realized price of $31.78 per ounce in the third quarter of 2024. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_43"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Jerritt Canyon Gold Mine, Nevada, United States</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Jerritt Canyon Gold Mine is an underground mining complex located in northern Nevada, United States. Jerritt Canyon was discovered in 1972 and has been in production since 1981 having produced over 9.5 million ounces of gold over its     40-year production history. The operation, which was purchased by the Company on April 30, 2021, has one of only three permitted gold processing plants in Nevada that uses roasting in its treatment of ore. This processing plant has a capacity of 4,000 tpd. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 20, 2023, the Company temporarily suspended mining activities at Jerritt Canyon to reduce overall costs and refocus mining and exploration plans at the mine. The property consists of a large, under-explored land package consisting of 30,821 ha (119 square miles). Jerritt Canyon is 100%-owned by the Company.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operations at the Jerritt Canyon mine were placed on temporary suspension in March 2023. As of April 24, 2023, all activities at the Jerritt Canyon processing plant were fully suspended.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the third quarter, the Company incurred $3.6 million in holding costs at Jerritt Canyon, representing a 22% decrease compared to $4.7 million in the third quarter of 2024. The mine holding costs at Jerritt Canyon primarily relate to care and maintenance activities such as water management and treatment, maintaining environmental permits and controls, keeping the plant and infrastructure well-maintained for future processing and maintaining land access. The Company continues to focus on optimizing holding costs and completing technical studies that will support an eventual restart of the operation in the future. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During the third quarter, the Company commenced its 2025 drilling program at Jerritt Canyon. Two surface drill rigs completed 12,522 m of drilling on the property. The Company plans to release results from the 2025 drilling program before the end of 2025. Drilling is focused on greenfield exploration and Mineral Resource addition and is ahead of plan. Total exploration costs amounted to $3.0 million in the third quarter of 2025, representing a 20% decrease compared to $3.8 million in the third quarter of 2024. Exploration work primarily consisted of road and site preparation for the 2025 drilling season which began in July 2025.</font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_52"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Del Toro Silver Mine, Zacatecas, Mexico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Del Toro Silver Mine is located in the Municipality of Chalchihuites, Zacatecas, Mexico. and consists of 3,815&#160;ha of mining concessions and 219 ha of surface rights. The Del Toro operation represents the consolidation of three historical silver mines, the Perseverancia, San Juan and Dolores mines, which are approximately one and three km apart, respectively. Del Toro includes a 2,000 tpd flotation circuit and a 2,000 tpd cyanidation circuit. First Majestic owns 100% of the Del Toro Silver Mine.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operations at the Del Toro mine have been on care and maintenance since January 2020.</font></div><div style="text-align:justify"><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_58"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">San Martin Silver Mine, Jalisco, Mexico</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The San Martin Silver Mine is an underground mine located near the town of San Martin de Bola&#241;os in the Bola&#241;os river valley, in the northern portion of the State of Jalisco, Mexico. San Martin has 33 contiguous mining concessions in the San Martin de Bola&#241;os mining district covering mineral rights for 12,795 hectares, plus an application of a new mining concession covering 24,723 ha to be granted. In addition, the mine includes 160 hectares of surface land where the processing plant, camp, office facilities, maintenance shops, and tailings dams are located, and an additional 640 hectares of surface rights. The 1,300 tpd mill and processing plant consists of crushing, grinding and conventional cyanidation by agitation in tanks and a Merrill-Crowe dor&#233; production system. The mine can be accessed via small plane, 150 km from Durango, or 250&#160;km by paved road north of Guadalajara, Jalisco. The San Martin Silver Mine is 100% owned by the Company.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2019, the Company suspended all mining and processing activities at the San Martin operation due to growing insecurity in the area. Increasing violence and safety concerns resulted in the Company removing all its remaining employees from the area in 2021 and the mine and plant have been occupied and are currently under the de facto control of an organized criminal group. Due to this situation, the Company has been unable to carry out proper care and maintenance of the mine and plant and tailings storage facilities, and the Company has limited information as to the current state of repair at the mine, including the tailings storage facility. The Company has repeatedly requested all applicable governmental authorities to take action to secure the area but, to date, the Mexican government has failed to take any such action and the Company&#8217;s own efforts have been unsuccessful. The Company is continuing its efforts to work with governmental authorities to take action to secure the area.</font></div><div style="text-align:justify"><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_64"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Springpole Silver Stream, Ontario, Canada</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2020, the Company completed an agreement with First Mining Gold Corp. (&#8220;First Mining&#8221;) to purchase 50% of the life-of-mine payable silver produced from the Springpole Gold Project (the &#8220;Springpole Silver Stream&#8221;), a development-stage gold project located in Ontario, Canada. First Majestic agreed to pay First Mining consideration of $22.5 million in cash and shares, in three milestone payments, for the right to purchase silver at a price of 33% of the silver spot price per ounce, to a maximum of $7.50 per ounce (subject to annual inflation escalation of 2%, commencing at the start of the third anniversary of production). Commencing its production of silver, First Mining must deliver 50% of the payable silver which it receives from the off taker within five business days of the end of each quarter. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transaction consideration paid and payable by First Majestic is summarized as follows&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The first payment of $10.0 million, consisting of $2.5&#160;million in cash and $7.5 million in First Majestic common shares (805,698 common shares), was paid to First Mining on July 2, 2020&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The second payment of $7.5 million, consisting of $3.75 million in cash and $3.75 million in First Majestic common shares (287,300 common shares), was paid on January 21, 2021 upon the completion and public announcement by First Mining of the results of a Pre-Feasibility Study for Springpole&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:13.02pt">The third payment of $5.0 million was originally scheduled to be made as a combination of cash and First Majestic common shares. On March 13, 2025, the Company signed an amendment agreement (the &#8220;Amended Springpole Stream Agreement&#8221;) to the original streaming agreement for the Springpole property (the &#8220;Springpole Stream Agreement&#8221;) among the Company, Gold Canyon Resources Inc. (a wholly-owned subsidiary of First Mining) and First Mining to accelerate the final tranche payment owed by the Company under the Springpole Stream Agreement, such that it will now be a cash-only payment of $5 million (previously, this final payment was to be a combination of cash and Common Shares), payable by the Company by March 31, 2025. This payment has since been completed.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Springpole Stream Agreement, First Mining also granted First Majestic 30.0 million common share purchase warrants of First Mining (the &#8220;First Mining Warrants&#8221;), each of which will entitle the Company to purchase one common share of First Mining at CAD$0.40 expiring July 2, 2025. The fair value of the warrants was measured at $5.7 million using the Black-Scholes option pricing model.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the March 13, 2025 Amended Springpole Stream Agreement, First Mining agreed to extend the expiry date of the First Mining Warrants to March 31, 2028 and to amend the exercise price to CAD$0.20. The fair value of the warrants was measured at $0.8 million using the Black-Scholes option pricing model. Additionally, if the closing price of First Mining&#8217;s common shares on the TSX equals or exceeds CAD$0.30 for 45 consecutive trading days, First Mining may accelerate the expiry date of the common share purchase warrants to the date which is 30 days following the dissemination of a news release announcing the acceleration.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Mining has the right to repurchase 50% of the silver stream from First Majestic for $22.5 million at any time prior to the commencement of production at Springpole, and if such a repurchase takes place, the Company will be left with a reduced silver stream of 25% of life-of-mine payable silver production from Springpole.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Springpole is one of Canada&#8217;s largest, undeveloped gold projects with permitting underway. In January 2021, First Mining announced results of its Pre-Feasibility Study (&#8220;PFS&#8221;) which supports a 30,000 tpd open pit mining operation over an 11-year mine life. First Mining announced resources of 24.3 million ounces of silver in the Indicated category and 1.4 million ounces of silver in the Inferred category, plus 4.6 million ounces of gold in the Indicated category and 0.3 million ounces of gold in the Inferred category. A draft Environmental Impact Statement for Springpole was published in June 2022, and the Federal and Provincial Environment Assessment processes for the project are in progress.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Springpole Project also includes large land holdings of 41,913 ha which are fully encompassed under the silver streaming agreement.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Keith Neumeyer, our President &#38; Chief Executive Officer and a director of the Company, and Raymond Polman, a director of the Company, are each also directors of First Mining and accordingly may be considered to have a conflict of interest with respect to First Mining and the Springpole Silver Stream Agreement.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_67"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.370%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:51.430%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:100%">OVERVIEW OF FINANCIAL PERFORMANCE</font></td></tr></table></div><div id="i32be6b856347497cbb3bced14aa7fdf0_70"></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> For the quarters ended September&#160;30, 2025 and 2024 (in thousands of dollars, except for per share amounts)&#58;</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.214%"><tr><td style="width:1.0%"></td><td style="width:49.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.596%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.596%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.390%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Third Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Third Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Variance %</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$285,063</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$146,087</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">95</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">131,122&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">85,694&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,860&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31,871&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">185,982&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">117,565&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating earnings </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">99,081</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">28,522</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,645&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,440&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,382&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,935&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine holding costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,400&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,153&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(28</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restructuring costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange (gain) loss</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,749)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,848&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(147</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating earnings</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">78,847</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,146</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment and other (loss) income </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,418)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">528&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,111)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,858)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">66,318</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(2,184)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax expense </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,981&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,174&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">150</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax (recovery) expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,625)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,235&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(135</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax expense </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,356&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,409&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the period</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$42,962</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($26,593)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Owners of the Company</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$26,978&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">($26,593)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$15,984&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per common share attributable to owners of the Company&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basic</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.06</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.09)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">167</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Diluted</font></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.06</font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.09)</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">167</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the quarter were $285.1 million, representing a 95% increase compared to $146.1 million in the same quarter of the prior year primarily attributed to&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 45% increase in payable AgEq ounces sold compared to the same quarter of the prior year driven by the addition of 2.1 million attributable AgEq ounces from Los Gatos, a notable 27% (0.6 million AgEq ounces) production increase at San Dimas largely due to a 20% increase in tonnes milled and an 18% increase in grades compared to the same period of the prior year, and a 10% increase in silver ounce production at Santa Elena. These factors collectively contributed to a $73.4 million increase in revenues&#59; and</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 31% increase in the average realized silver price, which was $39.03 per AgEq ounce during the quarter, compared to $29.84 per AgEq ounce in the third quarter of 2024. This resulted in a $66.3 million increase in revenue compared the third quarter of 2024. </font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt;padding-left:10.42pt">Cost of sales</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt"> in the quarter increased by 45.4 million, or a 53% increase compared to the same quarter of the prior year primarily attributed to&#58;</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">the addition of the Los Gatos Silver Mine on January 16, 2025 which contributed $34.1 million to costs of sales  during the third quarter&#59; </font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a $7.1 million increase in labour costs, energy costs and maintenance costs across all sites along with contactor costs at La Encantada. A mining contractor was engaged to accelerate mine development and support production resulting with the increase compared to the third quarter of the prior year.</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">$5.0 million in abnormal costs primarily due to increased waste costs from ore that was below cut-off grade at La Encantada, as poor ground conditions impacted mine development activities. Additionally, there were increased maintenance and energy costs at Santa Elena, and increased diesel generator rental costs and energy charges driven by weather related events at the start of the quarter at San Dimas. </font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">A $4.2 million increase in worker participation costs in Mexico for all sites due to higher metal prices&#59;</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a $1.4 million increase in transportation and selling costs and services costs for all sites&#59; and</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a strengthening of Mexican peso against US dollar compared to the same quarter of the prior year.</font></div><div style="margin-bottom:5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">Partially offset by&#58; </font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a $7.8 million decrease in change in inventory expense compared to the same period of 2024.</font></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt;padding-left:10.42pt">Depletion, depreciation and amortization </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">in the quarter was $54.9 million compared to $31.9 million in the same quarter of the prior year, primarily as a result of&#58;</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">the addition of Los Gatos which contributed $26.2 million&#59; and</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a $0.4 million increase in depletion and depreciation from La Encantada.</font></div><div style="margin-bottom:5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">Partially offset by&#58; </font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a decrease of $2.1 million in depreciation and amortization from Santa Elena, and a decrease of $1.3 million from Jerritt Canyon.</font></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt;padding-left:10.42pt">General and administrative expense</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt"> in the quarter was $10.6 million, representing a 13% increase compared to $9.4 million in the same quarter of the prior year.  The increase in general and administrative costs was primarily due to the expanded workforce and integration-related expenses following the acquisition of Los Gatos, with expected synergies and cost reductions once integration is complete.</font></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt;padding-left:10.42pt">Mine holding costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt"> in the quarter were $4.4 million, representing a 28% decrease compared to $6.2 million in the same quarter of the prior year. This was primarily attributable to&#58;</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a $1.0 million decrease from Jerritt Canyon due to the optimization of mine holding costs during the quarter.</font></div><div style="margin-bottom:5pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:13.02pt">a $0.8 million decrease from Santa Elena mine due to mine operations being resumed during the quarter. At the end of the third quarter, underground mining activity at the Santa Elena mine had been temporarily stopped due to expanded ore availability in the Ermita&#241;o and Luna ore bodies.</font></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">6.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt;padding-left:10.42pt">Restructuring costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt"> in the quarter were $3.6 million related to higher severance costs incurred as the Company optimized its workforce across all sites.</font></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">7.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt;padding-left:10.42pt">Investment and other loss</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt"> in the quarter was $5.4 million, representing a $5.9 million decrease compared to a $0.5 million gain during the same quarter of the prior year. This was primarily driven by an $11.2 million loss from investment in silver futures derivatives compared to $1.3 million loss in the same quarter of the prior year as a result of rising metal prices, offset by $3.3 million in interest income compared to $1.9 million in the same quarter of the prior year, and a $2.9 million gain from investment in marketable securities, compared to $0.1 million compared to the same quarter in the prior year. Investment and other income does not include the $56.6 million gain on marketable securities that are flowing through other comprehensive income.</font></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">8.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:10.42pt">During the quarter, the Company recorded an </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt">income tax expense </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">of $23.4 million, compared to a $24.4&#160;million income tax expense in same quarter of the prior year. The decrease in income tax expense was primarily related to the non-cash foreign exchange impact on available Mexican tax pools, partially offset by a tax settlement during the quarter related to a prior year.</font></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">9.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt;padding-left:10.42pt">As a result of the foregoing, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:11.50pt">net earnings </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:11.50pt">for the quarter were $43.0 million, compared to a net loss of $26.6 million in the same quarter of the prior year. Additionally, net earnings attributable to owners of the Company were $27.0 million (EPS of $0.06) during the quarter, compared to a net loss of $26.6&#160;million (EPS of ($0.09)) in the same quarter of the prior year. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_73"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">For the year-to-date periods ended September&#160;30, 2025, and 2024 </font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:120%">(in thousands of dollars, except for per share amounts)&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.858%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.929%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.376%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.920%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year to Date</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year to Date</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Variance %</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">'</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">25 vs '24</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$793,234</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$388,267</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">104</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">389,978&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">255,279&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">191,019&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,325&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">114</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">580,997&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">344,604&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mine operating earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">212,237</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">43,663</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,873&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,186&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,688&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,895&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mine holding costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,692&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,173&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(19</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,584&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restructuring costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign exchange (gain) loss </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,993)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,824&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(195</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating gain (loss)</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">153,837</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(29,415)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investment and other income </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,421&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,086&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(65</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21,872)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21,277)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) before income taxes</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">133,386</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(46,606)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,155&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,707&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax (recovery) expense </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(36,550)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,094&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,605&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,801&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(34</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) for the period</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$105,781</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,407)</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">NM</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10)</font></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Owners of the Company</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$81,790</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,407)</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">193</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$23,991</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">100</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings (loss) per common share</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;&#160;&#160;&#160;&#160;Basic and diluted</font></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.18</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.30)</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">160</font></td><td style="border-bottom:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">NM - Not meaningful</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Revenue</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the nine months ended September&#160;30, 2025 was $793.2 million, or a 104% increase compared to $388.3 million in the same period of the prior year, primarily attributed to&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 55% increase in payable AgEq ounces sold compared to the same period of the prior year driven by the addition of 6.8 million attributable AgEq ounces from the Los Gatos mine, a notable 18% (1.2 million AgEq ounces) production increase at San Dimas largely due to 23% increase in tonnes milled prior year, and an 11% increase in silver ounces produced at La Encantada compared to the same period of the prior year. These factors collectively contributed to a $226.9 million increase in revenues&#59; and</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a 30% increase in the average realized silver price, which was $35.35 per AgEq ounce during the period, compared to $27.25 per AgEq ounce in the same period of the prior year. This resulted in a $180.3 million increase in revenue compared to the same period of the prior year. </font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Partially offset by&#58; </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $2.2 million increase in smelting and refining charges related to the addition of Los Gatos.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Cost of sales</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the period increased $134.7 million, or a 53% increase compared to $255.3 million the same period of the prior year primarily attributed to&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">the addition of the Los Gatos Silver Mine on January 16, 2025 which contributed $101.3 million to cost of sales during the year&#59; </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $11.4 million increase in 2025 production bonuses driven by increase in metal prices and production during the year&#59;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $10.2 million increase in labour, energy costs and maintenance costs across all sites and contactor costs at La Encantada. A mining contractor was engaged to accelerate mine development and support production resulting with the increase compared to the same period of the prior year.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">an $8.9 million increase in consumables, materials, environmental duties, and royalty costs for all sites excluding Los Gatos&#59;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $5.9 million increase in abnormal costs primarily due to increased waste costs from ore being below cut-off grade at La Encantada, as poor ground conditions impacted mine development activities. Additionally there were increased maintenance and energy costs at Santa Elena, increased diesel generator rental costs and energy charges driven by weather related events at San Dimas&#59; and</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a strengthening of Mexican peso against US dollar compared to the prior year.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Partially offset by&#58; </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $4.1 million increase in change in inventory expense compared to the same period of 2024.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Depletion, depreciation and amortization </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in the period was $191.0 million, representing a 114% increase compared to $89.3 million in the same period of the prior year, primarily as a result of&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">the addition of the Los Gatos mine which contributed $104.5 million&#59; and</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $3.5 million increase in depletion and depreciation primarily due to higher produced tonnes at San Dimas.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Partially offset by&#58; </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a decrease of $3.3 million in depreciation and amortization from Jerritt Canyon compared to the same period of the prior year&#59; and</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a decrease of $2.3 million in depreciation and amortization from Santa Elena compared to the same period of the prior year.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">General and administrative expense</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the year was $35.9 million, representing a 27% increase compared to $28.2 million in the same period of the previous year. The increase in general and administrative costs was primarily due to the expanded workforce and integration-related expenses following the acquisition of Los Gatos, with expected synergies and cost reductions once integration is complete.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Share based payments</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the year were $13.7 million, representing a 26% increase compared to $10.9 million in the same period of the previous year, as stock options and RSUs were issued during the quarter. Rising metal prices impacted the computation of share based compensation expense.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">6.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:10.42pt">Mine holding costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> in the year were $14.7 million, representing a 19% decrease compared to $18.2 million in the same period of the previous year, primarily attributed to&#58;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">                         </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $2.1 million decrease from Jerritt Canyon due to operational efficiencies.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a  $0.9 million decrease from the Santa Elena mine due to mine operations being resumed during the quarter. At the end of the third quarter, underground mining activity at the Santa Elena mine had been temporarily suspended due to expanded ore availability in the Ermita&#241;o and Luna ore bodies&#59; and</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">a $0.6 million decrease from Del Toro properties.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">7.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:115%;padding-left:10.42pt">Restructuring costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> in the year were $3.6 million related to higher severance costs incurred as the Company optimized its workforce across all sites.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.42pt">Investment and other income </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">for the year totaled $1.4 million, representing a 65% decrease compared to $4.1 million in the same period of the previous year. </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This was primarily driven by a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$12.9 million</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> loss from investment in silver futures derivatives </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">compared to $1.0 million loss </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in the same period of the prior year as a result of rising metal prices, partially </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">offset by $10.6 million in</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> interest income </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">compared to $4.7 million in the same period of the prior year, and a $4.2 million gain from investment in marketable securities compared to a $0.2 million gain in the same period of the prior year. Investment and other income does not include $84.9 million gains on marketable securities that are flowing through other comprehensive income.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.42pt">During the nine months ended September&#160;30, 2025, the Company recorded an </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">income tax expense </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of $27.6 million, compared to a $41.8 million income tax expense in the same period of the prior year. The decrease in income tax expense was primarily related to the non-cash foreign exchange impact on available Mexican tax pools to account for the strengthening of the Mexico peso relative to the US dollar resulting in an increased deferred tax recovery, partially offset by an increased current tax expense driven by higher earnings during the year.</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.36pt">As a result of the foregoing, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">net earnings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the nine months ended September&#160;30, 2025 was $105.8 million, compared to a net loss of $88.4 million in the same period of the previous year. Additionally, net earnings attributable to owners of the Company were $81.8 million (EPS of $0.18) during the quarter, compared to a net loss of $88.4&#160;million (EPS of ($0.30)) in the same period of the prior year. </font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_76"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.501%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:55.299%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">SUMMARY OF QUARTERLY RESULTS</font></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:4pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">The following table presents selected financial information for each of the most recent eight quarters&#58;</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.553%"><tr><td style="width:1.0%"></td><td style="width:32.532%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.971%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.971%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.971%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.971%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.971%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.971%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.971%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.980%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">2023</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Selected Financial Information</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Q4</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$285,063&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$264,229&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$243,942&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$172,337&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$146,087&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$136,166&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$106,014&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$136,946&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Cost of sales</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$131,122&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$141,139&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$117,717&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$89,424&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$85,694&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$89,096&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$80,489&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$89,395&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$54,860&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$73,739&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$62,420&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$34,676&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$31,871&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$31,608&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$25,846&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$29,650&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Mine operating earnings (loss)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$99,081&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$49,351&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$63,805&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$48,237&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$28,522&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$15,462&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($321)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$17,901&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Net earnings (loss) after tax</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$42,962&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$56,579&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$6,240&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($13,478)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($26,593)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($48,251)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($13,563)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$10,231&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Earnings (loss) per share &#8211; basic &#38; diluted</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$0.06&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$0.11&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$0.01&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($0.04)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($0.09)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($0.17)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">($0.05)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$0.04&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the third quarter of 2025, mine operating earnings were $99.1 million, representing a significant increase compared to mine operating earnings of $28.5&#160;million in the third quarter of 2024. The increase was primarily due to a 52% increase in payable AgEq ounces sold mainly due to the addition of the Los Gatos mine, the strong performance at San Dimas, as well as a 31% increase in the average realized silver price. This was partially offset by increased labour costs across all sites and contactor costs at La Encantada to accelerate mine development and support production, abnormal costs due to increased waste costs from ore that was below cut-off grade at La Encantada, as poor ground conditions impacted mine development activities. Additionally, there were increased maintenance and energy costs at Santa Elena, and increased diesel generator rental costs and energy charges driven by weather related events at San Dimas, along with an increase from a strengthening of Mexican peso against US dollar throughout the year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net earnings for the quarter were $43.0 million, representing a significant improvement compared to a net loss of $26.6 million in the same quarter of the prior year. This increase in net earnings was primarily attributable to the higher mine operating earnings and a non-cash deferred income tax recovery of $4.6 million, compared to a non-cash deferred income tax expense of $13.2 million in the third quarter of 2024.  This was partially offset by a non-cash depletion and depreciation expense of $54.9 million, compared to $31.9 million in the third quarter of 2024, driven by higher production and the addition of Los Gatos. Net earnings did not include $56.6 million in gains from the Company's portfolio of marketable securities, which are included within other comprehensive income. </font></div><div style="text-align:justify"><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_79"></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.751%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.049%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">LIQUIDITY, CAPITAL RESOURCES AND CONTRACTUAL OBLIGATIONS</font></td></tr></table></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Liquidity</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company had cash and cash equivalents of $435.4 million, comprised primarily of cash held with reputable financial institutions and invested in cash accounts and highly liquid short-term investments with maturities of three months or less. With the exception of $7.3 million held in-trust for tax audits in Mexico, the Company's cash and cash equivalents are not exposed to liquidity risk and there are no restrictions on the ability of the Company to use these funds to meet its obligations. Cash and cash equivalents exclude $133.4 million of restricted cash as at September&#160;30, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On September 24, 2025, the Company filed and obtained a receipt for a final short form base shelf prospectus in each province of Canada (other than Qu&#233;bec), and a registration statement on Form F-10 in the United States, which will allow the Company to undertake offerings (including by way of &#8220;at-the-market distributions&#8221;) under one or more prospectus supplements of various securities listed in the shelf prospectus over a 25-month period commencing as of the date of the receipt of the base shelf prospectus. During the third quarter, no shares were issued under this program.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Working capital as at September&#160;30, 2025 was $542.4 million compared to $224.5&#160;million as at December&#160;31, 2024. 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style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The following table summarizes the Company&#8217;s cash flow activity during the year&#58;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.447%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.329%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.873%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flow</font></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash generated by operating activities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$112,520&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$41,038&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$258,118&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$70,316&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash used in investing activities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(57,953)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(32,720)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,795)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(89,797)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash (used in) generated by in financing activities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,545)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,743)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(17,916)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td 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style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,575</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$230,407</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$30,984</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Effect of exchange rate on cash and cash equivalents held in foreign currencies    </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">580&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(18)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,768&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,835)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents, beginning of the period</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">384,753&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="padding:2px 0 2px 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solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$154,730</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$435,355</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$154,730</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s cash flows from operating, investing and financing activities during the nine months ended September&#160;30, 2025 are summarized as follows&#58;</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash generated by operating activities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of $258.1 million, primarily due to&#58;</font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$366.3 million in cash flows from operating activities before movements in working capital and taxes.  Operating cash flows during the quarter were impacted by increased restructuring costs related to higher severance costs incurred as the Company optimized its workforce across all sites, and abnormal costs primarily due to increased waste costs from ore that was below cut-off grade at La Encantada, as poor ground conditions impacted mine development activities. 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</font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$45.6 million spent on the purchase of property, plant and equipment&#59; </font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$5.0 million spent in connection with the final payment of the Springpole Silver Stream&#59; </font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$3.9 million spent on the purchase of marketable securities&#59; and</font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$0.9 million spent on deposit for acquisition of non-current assets.</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net of&#58;</font></div><div style="margin-bottom:6pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$159.6 million cash acquired from the acquisition of Los Gatos, net of acquisition costs&#59; and</font></div><div style="margin-bottom:6pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$3.0 million in proceeds from disposal of marketable securities.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.02pt">Cash used in financing activities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of $17.9 million, primarily related to the following&#58;</font></div><div style="margin-bottom:3pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$23.2 million comprised of $13.5 million as capital distributions and $9.7 million of dividend paid to non-controlling interest in Los Gatos. These distributions are made quarterly to the Los Gatos partners based on their attributable ownership&#59;</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$13.9 million repayment of lease obligations&#59; </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$7.3 million for the payment of dividends during the period&#59;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$4.3 million spent on share repurchases&#59; and</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$6.2 million payment of financing costs.</font></div><div style="margin-bottom:3pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net of&#58;</font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">$36.9 million proceeds from the exercise of stock options.</font></div><div style="margin-bottom:3pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the nine months ended September 30, 2025, the Company received $54.1 million (994.8 million MXN) related to VAT filings. In connection with the tax ruling relating to Primero Empresa Minera, S.A. de C.V. (&#8220;PEM&#8221;), the Servicio de Administracion Tributaria (the &#8220;SAT&#8221;), the Mexican tax authority, has frozen two PEM bank accounts which, together, contain approximately $113.4 million as security for certain tax re-assessments that are currently being disputed by PEM, and this amount is reflected in the Company&#8217;s restricted cash accounts. The Company does not agree with the SAT&#8217;s position regarding its tax re-assessments, which were issued as a result of the SAT unilaterally declaring that the Company&#8217;s APA was not valid, and is challenging Mexico&#8217;s actions with respect to the APA through various legal actions, both domestically in Mexico and internationally through NAFTA arbitration proceedings.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Capital Resources</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s objective when managing capital is to maintain financial flexibility to continue as a going concern while optimizing growth and maximizing returns of investments from shareholders. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continually monitors its capital structure and, based on changes in operations and economic conditions, it may, from time to time, adjust the structure by repurchasing shares, issuing new shares, issuing new debt or retiring existing debt. The Company prepares an annual budget and quarterly forecasts to facilitate management of its capital requirements. The annual budget is approved by the Company&#8217;s Board of Directors.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is not subject to any externally imposed capital requirements with the exception of complying with banking covenants defined in its debt facilities. As at September&#160;30, 2025, the Company was in compliance with all of its debt covenants.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is party to a revolving credit facility and an at-the-market finance facility. For further information, see &#34;Liquidity, Capital Resources, and Contractual Obligations - Liquidity&#34;. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Contractual Obligations and Commitments </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company&#8217;s contractual obligations and commitments are summarized as follows&#58;</font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.553%"><tr><td style="width:1.0%"></td><td style="width:52.412%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.961%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.547%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.961%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.547%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.961%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.547%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.964%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contractual<br>Cash Flows</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Less than <br>1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2 to 3<br>years</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4 to 5<br>years</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade and other payables</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$188,625&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$188,625&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debt facilities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">234,751&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,198&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">232,553&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,493&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,083&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,376&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,034&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Purchase obligations and commitments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,437&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,437&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$449,306</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$208,343</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$238,929</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$2,034</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company had working capital of $542.4 million (December 2024 - $224.5 million) and total available liquidity of $682.0 million (December 2024 - $364.2 million), including $139.6 million&#160;(December 2024 - $139.6 million) of undrawn revolving credit facility. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes it has sufficient cash on hand, combined with cash flows from operations, to meet operating requirements as they arise for at least the next 12 months.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_82"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:47.561%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">MANAGEMENT OF RISKS AND UNCERTAINTIES</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company thoroughly examines the various financial instruments and risks to which it is exposed and assesses the impact and likelihood of those risks. These risks may include credit risk, liquidity risk, currency risk, commodity price risk, and interest rate risk. Where material, these risks are reviewed and monitored by the Board of Directors. Some of these risks and uncertainties are detailed below. For a comprehensive list of the Company&#8217;s risks and uncertainties, see the Company&#8217;s most recently filed AIF under the heading </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#34;Risk Factors&#34;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The AIF is available under the Company&#8217;s SEDAR+ profile at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.sedarplus.ca</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and on EDGAR as an exhibit to the Company&#8217;s recently filed Form 40-F.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk is the risk of financial loss if a customer or counterparty fails to meet its contractual obligations. The Company&#8217;s credit risk relates primarily to chartered banks, trade receivables in the ordinary course of business, value added taxes receivable and other receivables.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, net VAT receivable was $54.7 million (December 31, 2024 - $44.6 million), of which $14.9 million (December 31, 2024 -  $14.2 million) relates to La Encantada, $11.9 million relates to Santa Elena (December 31, 2024 - $5.1 million), and $7.8 million (December 31, 2024 - $7.0 million) relates to San Dimas. </font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company sells and receives payment upon delivery of its silver dor&#233;, concentrate and by-products primarily through six international customers. All of the Company&#8217;s customers have good ratings and payments of receivables are scheduled, routine and fully received within 60 days of submission&#59; therefore, the balance of trade receivables owed to the Company in the ordinary course of business is not significant.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying amount of financial assets recorded in the consolidated financial statements represents the Company&#8217;s maximum exposure to credit risk. With the exception to the above, the Company believes it is not exposed to significant credit risk.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they arise. The Company manages liquidity risk by monitoring actual and projected cash flows and matching the maturity profile of financial assets and liabilities. Cash flow forecasting is performed regularly to ensure that there is sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and our holdings of cash and cash equivalents.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Indebtedness</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company&#8217;s total consolidated indebtedness was $216.8 million, $0.3 million of which was secured indebtedness.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company may be required to use a portion of its cash flow to service principal and interest owing thereunder, which will limit the cash flow available for other business opportunities. The Company may in the future determine to borrow additional funds from lenders. For further details regarding this risk, see the section in the Company&#8217;s most recently filed AIF entitled</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> &#8220;Risk Factors &#8211; Financial Risks &#8211; Indebtedness&#8221;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Currency Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to foreign exchange risk primarily relating to financial instruments that are denominated in Canadian dollars or Mexican pesos, which would impact the Company&#8217;s net earnings or loss. To manage foreign exchange risk, the Company may occasionally enter into short-term foreign currency derivatives, such as forwards and options, to hedge its cash flows. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity of the Company&#8217;s net earnings or loss and comprehensive income or loss due to changes in the exchange rates of the Canadian dollar and the Mexican peso relative to the US dollar is included in the table below&#58;</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.702%"><tr><td style="width:1.0%"></td><td style="width:10.243%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.161%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="51" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30, 2025</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Restricted cash</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Value added taxes receivable</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade and other receivables</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other financial assets</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade and other payables</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Foreign exchange derivative</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net assets (liabilities) exposure</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in currency</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Canadian Dollar</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$12,389&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$569&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$6,338&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">($4,728)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1,385&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$15,953&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$1,595&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexican Peso</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,499&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,441&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54,736&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(96,721)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97,955&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,796&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$38,888</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$113,441</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$54,736</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$569</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$6,338</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($101,449)</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$1,385</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$113,908</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$11,391</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Commodity Price Risk</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to commodity price risk on silver and gold, which have a direct and immediate impact on the value of its related financial instruments, non-financial items and net earnings. The Company&#8217;s revenues are directly dependent on commodity prices that have shown volatility and are beyond the Company&#8217;s control. The Company does not use long-term derivative instruments to hedge its commodity price risk to silver or gold.</font></div><div><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A portion of the Company's trade receivable arose from provisional concentrate sales and are classified within Level 2 of the fair value hierarchy and valued using quoted market prices based on the forward London Metal Exchange for copper, zinc, lead, and the London Bullion Market Association P.M fix for gold and silver.</font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the Company&#8217;s exposure to commodity price risk and their impact on net earnings&#58;</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.405%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.846%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.846%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.019%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.873%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="27" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2025</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="33" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effect of +&#47;- 10% change in metal prices</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Silver</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gold</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Zinc </font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Lead</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Copper</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Metals in inventory</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,147&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$1,549&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$158&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$48&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$4,905&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivable from concentrate sales subject to provisional pricing</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,819&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$129&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$3,041&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$386&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$64&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$7,439&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$6,966</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$1,678</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$3,199</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$434</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$67</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$12,344</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Interest Rate Risk</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to interest rate risk on its short-term investments, debt facilities and lease liabilities. The Company monitors its exposure to interest rates and has not entered into any derivative contracts to manage this risk. The Company&#8217;s interest-bearing financial assets comprise of cash and cash equivalents which bear interest at a mixture of variable and fixed rates for pre-set periods of time.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company&#8217;s exposure to interest rate risk on interest bearing liabilities is limited to its debt facilities and lease liabilities. Based on the Company&#8217;s interest rate exposure at September&#160;30, 2025, a 25 basis points increase or decrease in the market interest rate does not have a significant impact on net earnings or loss.</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Political and Country Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Majestic currently conducts foreign operations in Mexico and the United States, and as such the Company&#8217;s operations are exposed to various levels of political and economic risks by factors outside of the Company&#8217;s control. These potential factors include, but are not limited to&#58; royalty and tax increases or claims by governmental bodies (including the imposition of import and export tariffs or duties), expropriation or nationalization, trade disputes, foreign exchange controls, high rates of inflation, fluctuations in foreign currency exchange rates, import and export regulations, lawlessness, cancellation or renegotiation of contracts, environmental and permitting regulations, illegal mining operations by third parties on the Company's properties, labour unrest and surface access issues. The Company currently has no political risk insurance coverage against these risks. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is unable to determine the impact of these risks on its future financial position or results of operations. Changes, if any, in mining or investment policies or shifts in political attitude in foreign countries may substantively affect the Company&#8217;s exploration, development and production activities.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Uncertainty in the Estimation of Mineral Resources and Mineral Reserves, and Metal Recoveries </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There is a degree of uncertainty attributable to the estimation of Mineral Resources and Mineral Reserves (as defined in the Canadian Institute of Mining's Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and included by reference in the Canadian Securities Administrators' National Instrument 43-101 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Standards of Disclosure for Mineral Projects</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (&#8220;NI 43-101&#8221;)), and undue reliance should not be placed on the Company's estimates of Mineral Resources and Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Until Mineral Reserves or Mineral Resources are actually mined, extracted and processed, the quantity of minerals and their grades must be considered estimates only. In addition, the quantity of Mineral Reserves and Mineral Resources may vary depending on, among other things, applicable metal prices, exchange rate assumptions used, underground stability conditions, the ability to maintain constant underground access to all working areas, geological variability, mining methods assumptions used and operating cost escalation. Any material change in the quantity of Mineral Reserves, Mineral Resources, grade or dimensions of the geological structures may affect the economic viability of some or all of the Company&#8217;s mineral properties and may have a material adverse effect on the Company's operational results and financial condition. Mineral Reserves on the Company&#8217;s properties have been estimated on the basis of economic factors at the time of calculation, including commodity prices and operating costs. Variations in such factors may have an impact on the amount of the Company&#8217;s Mineral Reserves and Mineral Resources, or may affect the Company's ability to extract Mineral Reserves, all of which could have a material adverse effect on the Company's results of operations and financial condition. In addition, there can be no assurance that metal recoveries in small-scale laboratory tests will be replicated in larger-scale tests under on-site conditions or during production, or that the existing known and experienced recoveries will continue.</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Governmental Regulations, Laws, Licenses and Permits</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s mining, exploration and development projects are subject to extensive laws and regulations which vary based on the jurisdiction in which the projects are located. Such laws and regulations govern various matters which may include exploration, development, production, price controls, exports, taxes, mining royalties, environmental levies, labour standards, expropriation of property, maintenance of mining claims, land use, land claims of local people, water use, waste disposal, power generation, protection and remediation of the environment, reclamation, historic and cultural resource preservation, mine safety, occupational health, and the management and use of toxic substances and explosives, including handling, storage and transportation of hazardous substances.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Such laws and regulations may require the Company to obtain licenses and permits from various governmental authorities, and there can be no assurance that the Company will be able to obtain or maintain all necessary licenses and permits that may be required to carry out exploration, development and mining operations at the Company&#8217;s projects. Failure to comply with applicable laws and regulations, including licensing and permitting requirements, may result in civil or criminal fines, penalties or enforcement actions, including orders issued by regulatory or judicial authorities enjoining or curtailing operations, requiring corrective measures, requiring the installation of additional equipment, requiring remedial actions or imposing additional local or foreign parties as joint venture partners, any of which could result in significant expenditures or loss of income by the Company. The Company may also be required to compensate private parties suffering loss or damage by reason of a breach of such laws, regulations, licensing requirements or permitting requirements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s income and its mining, exploration and development projects, could be adversely affected by amendments to applicable existing laws and regulations, by future laws and regulations, by more stringent enforcement of current laws and regulations, by changes in applicable government policies affecting investment, mining and repatriation of financial assets, by shifts in political attitudes by changes in trade policy and the imposition of tariffs or non-tariff trade barriers, and by exchange controls.  The effect, if any, of these factors cannot be accurately predicted. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The costs of discovering, evaluating, planning, designing, developing, constructing, operating and closing the Company&#8217;s mining, exploration and development activities and operations in compliance with such laws and regulations are significant. It is possible that the costs and delays associated with compliance with such laws and regulations, and new taxes, could become such that the Company would not proceed with mining, exploration and development at one or more of its properties. Moreover, it is possible that future regulatory developments, such as increasingly strict environmental protection laws, regulations and enforcement policies thereunder, could result in substantial costs and liabilities for the Company, such that the Company would halt or not proceed with mining, exploration and development at one or more of its properties.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Amendments to Mining and Other Related Laws in Mexico</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 8, 2023, the Mexican Government enacted a decree amending several provisions of the Mining Law, the Law on National Waters, the Law on Ecological Equilibrium and Environmental Protection and the General Law for the Prevention and Integral Management of Waste (the &#34;Decree&#34;), which became effective on May 9, 2023. The Decree amends the mining and water laws, including&#58; (i) the duration of the mining concession titles, (ii) the process to obtain new mining concessions (through a public tender), (iii) imposing conditions on water use and availability for the mining concessions, (iv) the elimination of &#8220;free land and first applicant&#8221; scheme&#59; (v) new social and environmental requirements in order to obtain and keep mining concessions, (vi) the authorization by the Mexican Ministry of Economy of any mining concession&#8217;s transfer, (vii) new penalties and cancellation of mining concessions grounds due to non-compliance with the applicable laws, (viii) the automatic dismissal of any application for new concessions, and (ix) new financial instruments or collaterals that should be provided to guarantee the preventive, mitigation and compensation plans resulting from the social impact assessments, among other amendments. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These amendments are expected to have an impact on our current and future exploration activities and operations in Mexico and the extent of such impact is yet to be determined but could be material for the Company. On June 7, 2023, the Senators of the opposition parties (PRI, PAN and PRD) filed a constitutional action against the Decree, which is pending to be decided by Plenary of the Supreme Court of Justice. Additionally, during the second quarter of 2023, the Company filed various </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">amparo</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> lawsuits challenging the constitutionality of the Decree. As of the date of this MD&#38;A, these </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">amparos</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> filed by First Majestic, along with numerous </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">amparos</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in relation to the Decree that have been filed by other companies, are still pending before the District or Collegiate Courts. On July 15, 2024, the Supreme Court of Justice in Mexico suspended all on-going </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">amparo</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> lawsuits against the Decree whilst the aforementioned constitutional action is being considered by the Supreme Court. As of the date of this MD&#38;A, the Supreme Court has not yet rendered an official ruling on the constitutional action against the Decree that was brought by the opposition parties within the Mexican government. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on September 15, 2024, the Mexican Congress and a majority of state legislatures approved amendments to the Mexican Constitution to implement certain structural changes to the Mexican judiciary (the &#8220;Judiciary Reform&#8221;). The Judiciary Reform introduces significant changes to the Mexican judiciary, including (i) shifting from an appointment-based system, largely dependent on qualifications, to a system where judges are elected&#59; and (ii) replacing the Federal Judicial Council with two new entities&#58; the Judicial Administration Body and the Judicial Discipline Tribunal, which will oversee judicial careers, the Judiciary Branch&#8217;s budgeting, and disciplinary actions for public officials. Initial judicial elections were held in 2025 and a second stage of the Judiciary Reform is expected to take place in 2027. This second stage is anticipated to include (i) the extension of the election system to the remaining state-level judicial branches that did not participate in the 2025 elections&#59; (ii) the gradual replacement through elections of federal judges and magistrates whose terms will expire between 2025 and 2027&#59; (iii) the enactment of comprehensive amendments to various secondary laws, including the Organic Law of the Federal Judiciary, the Amparo Law, and other related statutes, to fully align them with the new judicial structure&#59; and (iv) the first formal performance evaluation process for the judges and magistrates elected in 2025 to determine their continuity in office. These proposed changes may have impacts on the Mexican court system and litigation in Mexico, the effects of which cannot be predicted at this time.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s income and its mining, exploration and development projects, could be adversely affected by amendments to such laws and regulations, by future laws and regulations, by more stringent enforcement of current laws and regulations, by changes in applicable government policies affecting investment, mining and repatriation of financial assets, by changes in the independence and reliability of Mexican courts, by shifts in political attitudes and by exchange controls. The effect, if any, of these factors cannot be accurately predicted. </font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Evolving Foreign Trade Policies</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">New tariffs and evolving trade policy between the United States and other countries, including China, Mexico and Canada, may have an adverse effect on the Company&#8217;s business and results of operations. There is currently significant uncertainty about the future relationship between the United States and various other countries, including China, Mexico and Canada, with respect to trade policies, treaties, government regulations and tariffs. Any increased restrictions or disruptions on international trade or significant increases in tariffs on goods could potentially disrupt the Company's existing supply chains and impose additional costs on the Company's business. The United States government has passed executive orders establishing significant tariffs against certain goods from Canada and Mexico. As of the date of this MD&#38;A, the extent and duration of such tariffs is unclear and the potential impact of these tariffs on the Company&#8217;s operations remains uncertain.</font></div><div><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Joint Ventures</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company holds a 70% interest in the Los Gatos Joint Venture, which owns the producing Los Gatos Silver Mine, and may enter into other joint venture or partnership agreements in the future. Accordingly, the Company&#8217;s activities may be subject to the risks associated with the conduct of non-wholly owned projects or joint arrangements. Such risks may include, but are not limited to, inability of joint venture partners to meet their obligations pursuant to the joint venture arrangement, disagreements with joint venture partners on how to develop and operate mines effectively, inconsistent economic or business interests or goals between joint venture partners, disputes between joint venture partners regarding management or other decisions related to the joint venture and inability to have complete control over strategic decisions made in respect of the properties. The potential occurrence of one or more of the foregoing events could have a material impact on the financial position and the results of operations of the Company.</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Public Health Crises </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Global financial conditions and the global economy in general have, at various times in the past and may in the future, experience extreme volatility in response to economic shocks or other events. Many industries, including the mining industry, are impacted by volatile market conditions in response to the widespread outbreak of epidemics, pandemics, or other health crises. Such public health crises and the responses of governments and private actors can result in disruptions and volatility in economies, financial markets, and global supply chains as well as declining trade and market sentiment and reduced mobility of people, all of which could impact commodity prices, interest rates, credit ratings, credit risk and inflation. The Company's business could be materially adversely affected by the effects of such public health crises.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any public health crises could materially and adversely impact the Company's business, including without limitation, employee health, workforce availability and productivity, limitations on travel, supply chain disruptions, increased insurance premiums, increased costs and reduced efficiencies, the availability of industry experts and personnel, restrictions on the Company's exploration and drilling programs and&#47;or the timing to process drill and other metallurgical testing and the slowdown or temporary suspension of operations at some or all of the Company's properties, resulting in reduced production volumes. Any such disruptions could have an adverse effect on the Company&#8217;s production, revenue, net income and business. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Environmental and Health and Safety Risks</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s activities are subject to extensive laws and regulations governing environmental protection and employee health and safety. Environmental laws and regulations are complex and have tended to become more stringent over time. The Company is required to obtain governmental permits and in some instances air, water quality, waste disposal, hazardous substances and mine reclamation rules and permits. Although the Company makes provisions for environmental compliance and reclamation costs, it cannot be assured that these provisions will be adequate to discharge its future obligations for these costs. Failure to comply with applicable environmental and health and safety laws may result in injunctions, damages, suspension or revocation of permits and imposition of penalties. Environmental regulation is evolving in a manner resulting in stricter standards and the costs of compliance with such standards are increasing while the enforcement of, and fines and penalties for, non-compliance are becoming more stringent. In addition, certain types of operations require submission of, and approval of, environmental impact assessments. Environmental assessments of proposed projects carry a heightened degree of responsibility for companies and directors, officers and employees. Climate change regulations may become more onerous over time as governments implement policies to further reduce carbon emissions, including the implementation of taxation regimes based on aggregate carbon emissions. However, the cost of compliance with environmental regulation and changes in environmental regulation have the potential to result in increased cost of operations, reducing the profitability of the Company&#8217;s operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 26, 2021, the Nevada Division of Environmental Protection (&#8220;NDEP&#8221;) issued 10 Notices of Alleged Violation (collectively, the &#8220;2021 NOAV&#8221;) that alleged the Company doing business as Jerritt Canyon Gold, LLC had violated various air permit conditions and regulations applicable to operations at the Jerritt Canyon in Elko County, Nevada. The 2021 NOAV are related to compliance with emission monitoring, testing, recordkeeping requirements, and emission and throughput limits. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company filed a Notice of Appeal on September 3, 2021, challenging the 2021 NOAV before the Nevada State Environmental Commission (&#8220;NSEC&#8221;). The Company raised various defenses to the 2021 NOAV, including that the Company is not liable for the violations because it was never the owner&#47;operator of Jerritt Canyon during the period the alleged violations began (on April 30, 2021, the Company acquired Jerritt Canyon Canada Ltd, which, through subsidiaries, owns and operates Jerritt Canyon). There is currently no hearing scheduled or any scheduling order in the matter, and the parties have yet to engage in discovery. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 8, 2022, NDEP issued an additional four Notices of Alleged Violations (the &#34;2022 NOAV&#34;) to Jerritt Canyon Gold, LLC for alleged exceedances and violations of an Air Quality Operating permit and Mercury Operating Permit to Construct. The 2022 NOAV relate to alleged exceedances of mercury emission limitations, exceedances of operating parameters, installation of equipment, and recordkeeping requirements. The Company filed a Request for Hearing with the Nevada State Environmental Commission on March 18, 2022, that challenged the bases for the alleged 2022 NOAV and any potential penalties associated with the NOAVs. Jerritt Canyon Gold and NDEP agreed to waive the 20-day hearing requirement for the NOAVs and the parties request that the NSEC withhold schedule a hearing for the NOAVs at this time. At this time the estimated amount cannot be reliably determined.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company intends to, and attempts to, fully comply with all applicable environmental regulations, however the Company's ability to conduct adequate maintenance and safety protocols may be considerably constrained or even prevented in areas where its control is impacted by criminal activities, such as the San Martin mine. Although the Company has repeatedly requested all applicable governmental authorities to take action to secure the area, to date, the Mexican government has failed to take any such action and the Company's own efforts have been unsuccessful. Due to this situation, the Company has been unable to conduct care and maintenance activities at San Martin since its remaining employees were withdrawn in 2021 and the Company has limited information as to the current state of repair at the mine, including the tailing storage facility. As a result, there may be an increased risk that an environmental incident may occur at this operation and, as applicable Mexican laws impose strict liability on the property owner, the Company could incur material financial liabilities which may not be covered by our insurance policies and suspension of authorizations as a result.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While responsible environmental stewardship is a top priority for the Company, there can be no assurance that the Company has been or will be at all times in complete compliance with applicable environmental laws, regulations and permits, or that the costs of complying with current and future environmental laws and permits will not materially and adversely affect the Company&#8217;s business, results of operations or financial condition.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Natural Protected Areas Risk</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the General Law of Ecological Equilibrium and Environmental Protection (the &#8220;General Law&#8221;), the Government of Mexico may, from time to time, establish Natural Protected Areas. There are a variety of different levels of environmental protection provided under the General Law which limit the economic activity that may be undertaken in any particular Natural Protected Area. The Mexican government has announced its intention to create additional Natural Protected Areas in Mexico. Although we have not received notice from any governmental entity of the creation of any such areas over land which is part of or nearby to any of our mineral properties, there can be no assurance that any such area will not be established in the future. In the event that a Natural Protected Area is established over land which is a part of or is nearby to any of the Company&#8217;s mineral properties in Mexico, the Company&#8217;s activities on such properties may be restricted or prevented entirely which may have a material adverse impact on the Company&#8217;s business.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Climate Related Risks</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A number of governments have introduced or are moving to introduce climate change legislation and treaties at the international, national, state&#47;provincial and local levels. Regulation relating to emission levels (such as carbon taxes) and energy efficiency is becoming more stringent. If the current regulatory trend continues, this may result in increased costs at some or all of the Company&#8217;s operations.  In addition, the physical risks of climate change may also have an adverse effect on the Company&#8217;s operations.  These risks include the following&#58;  </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Changes in sea levels could affect ocean transportation and shipping facilities that are used to transport supplies, equipment and workforce and products from the Company's operations to world markets. </font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Extreme weather events (such as the recent drought conditions at the La Encantada mine, flooding or freezing conditions) have the potential to disrupt operations at the Company&#8217;s mines and may require the Company to make additional expenditures to mitigate the impact of such events. Extended disruptions to supply lines could result in interruption to production. </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">The Company&#8217;s facilities depend on regular supplies of consumables (diesel, tires, sodium cyanide, etc.) and reagents to operate efficiently. In the event that the effects of climate change or extreme weather events cause prolonged disruption to the delivery of essential commodities, production levels at the Company&#8217;s operations may be reduced. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There can be no assurance that efforts to mitigate the risks of climate changes will be effective and that the physical risks of climate change will not have an adverse effect on the Company&#8217;s operations and profitability.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Claims and Legal Proceedings Risks</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of business activities. Each of these matters is subject to various uncertainties and it is possible that some of these other matters may be resolved in a manner that is unfavourable to the Company which may result in a material adverse impact on the Company's financial performance, cash flow or results of operations. First Majestic carries liability insurance coverage and establishes provisions for matters that are probable and can be reasonably estimated, however there can be no guarantee that the amount of such coverage is sufficient to protect against all potential liabilities. In addition, the Company may in the future be subjected to regulatory investigations or other proceedings and may be involved in disputes with other parties in the future which may result in a significant impact on our financial condition, cash flow and results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Title of Properties</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The validity of mining or exploration titles or claims or rights, which constitute most of the Company&#8217;s property holdings, can be uncertain and may be contested. The Company has used reasonable commercial efforts to investigate the Company&#8217;s title or claim to its various properties, however, no assurance can be given that applicable governments will not revoke or significantly alter the conditions of the applicable exploration and mining titles or claims and that such exploration and mining titles or claims will not be challenged or impugned by third parties. Mining laws are continually developing and changes in such laws could materially impact the Company&#8217;s rights to its various properties or interests therein. The Company has obtained title insurance for its Jerritt Canyon Mine but there is a risk that such insurance could be insufficient, or the Company could not be successful in any claim against its insurer. Accordingly, the Company may have little or no recourse as a result of any successful challenge to title to any of its properties. The Company&#8217;s properties may be subject to prior unregistered liens, agreements or transfers, land claims or undetected title defects which may have a material adverse effect on the Company&#8217;s ability to develop or exploit the properties.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Mexico, legal rights applicable to mining concessions are different and separate from legal rights applicable to surface lands&#59; accordingly, title holders of mining concessions must obtain agreement from surface landowners to obtain suitable access to mining concessions and for the amount of compensation in respect of mining activities conducted on such land. If the Company is unable to agree to terms of access with the holder of surface rights with respect to a particular claim, the Company may be able to gain access through a regulatory process in Mexico, however there is no guarantee that such process will be successful or timely or that the terms of such access will be favorable to the Company. In any such event, access to the Company's properties may be curtailed, which may result in reductions in production and corresponding reductions in revenue. Any such reductions could have a material adverse effect on the Company, its business and its results of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">Primero Tax Rulings</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When Primero, the previous owner of San Dimas acquired the San Dimas Mine in August 2010, it assumed the obligations under a Silver Purchase Agreement (&#8220;Old Stream Agreement&#8221;) that required its subsidiary, PEM, to sell exclusively to Wheaton Precious Metals (&#8220;WPMI&#8221;) up to 6 million ounces of silver produced from the San Dimas Mine, and 50% of silver produced thereafter, at the lower of&#58; (i) the spot market price and (ii) $4.014 per ounce plus an annual increase of 1% (&#8220;PEM Realized Price&#8221;). In May 2018, the Old Stream Agreement was terminated between WPMI and Silver Trading (Barbados) Limited (&#8220;STB&#8221;) in connection with the Company entering into a new stream agreement with WPMI concurrent with the acquisition of Primero by the Company.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to reflect the commercial terms and the effects of the Old Stream Agreement, for Mexican income tax purposes, PEM recognized the revenue on these silver sales based on the PEM Realized Price instead of at spot market prices.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To obtain tax and legal assurance that the Mexican tax authority, Servicio de Administraci&#243;n Tributaria (&#8220;SAT&#8221;) would accept the PEM Realized Price as the transfer price to calculate Mexican income taxes payable by PEM, a mutually binding Advance Pricing Agreement (&#8220;APA&#8221;) was entered into with the SAT for the taxation years 2010 to 2014. On October 4, 2012, the SAT confirmed that based on the terms of the APA, the PEM Realized Price could be used as PEM&#8217;s basis for calculating taxes owed for the silver sold under the Old Stream Agreement. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2015, the SAT commenced a legal process seeking to retroactively nullify the APA&#59; however, the SAT did not identify an alternative basis in its legal claim for calculating taxes on the silver sold by PEM for which PEM received the PEM Realized Price.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2019, the SAT issued reassessments for the 2010 ($36.6 million), 2011 ($108.6 million) and 2012 ($204.7 million) tax years in the total amount of $349.9 million (6,432 million MXN) inclusive of interest, inflation, and penalties. In 2021, the SAT also issued a reassessment against PEM for the 2013 tax year in the total amount of $185.0 million (3,401 million MXN) inclusive interest, inflation and penalties, and in 2023, the SAT issued reassessments for the 2014, 2015, and 2016 tax years in the total amount of $471.6 million (8,669 MXN)   inclusive of interest, inflation, and penalties (collectively, the &#8220;Reassessments&#8221;). For the 2017 and 2018 tax years, the SAT has initiated audits that have not yet been concluded, and therefore, tax reassessments for these years have yet to be issued. The Company believes that the Reassessments fail to recognize the applicability of a valid transfer pricing methodology. The major items in the Reassessments include determination of revenue based on spot market prices of silver, denial of the deductibility of interest expense and service fees, SAT technical error related to double counting of taxes, and interest and penalties.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to defend the APA in domestic legal proceedings in Mexico, and the Company has also requested resolution of the transfer pricing dispute pursuant to the Mutual Agreement Procedure (&#8220;MAP&#8221;), under the relevant avoidance of double taxation treaties, between the competent tax authorities of Mexico, Canada, Luxembourg and Barbados. The SAT has refused to take the necessary steps under the MAP processes contained in the three tax treaties. The Company believes that by its refusal, Mexico is in breach of its international obligations regarding double taxation treaties. Furthermore, the Company continues to believe that the APA remains valid and legally binding on the SAT. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to pursue all available domestic and international remedies under the laws of Mexico and under the relevant tax treaties. Furthermore, as discussed further below, the Company has also made claims against Mexico under Chapter 11 of the North American Free Trade Agreement (&#8220;NAFTA&#8221;) for violation of its international law obligations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Domestic Remedies in Mexico</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2020, the Company was served with a decision of the Mexican Federal Tax Court on Administrative Matters (the &#8220;Federal Tax Court&#8221;) seeking to nullify the APA granted to PEM. The Company filed an appeal against the decision to the Mexican Circuit Court on November 30, 2020. On December 5, 2023, the Mexican Circuit Court issued a decision, which was formally notified to the Company on January 4, 2024. In such decision, the Mexican Circuit Court partially granted constitutional protection to the Company with respect to certain matters, but not others.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accordingly, on January 18, 2024, PEM filed an extraordinary appeal to the Mexican Supreme Court of Justice with respect to PEM&#8217;s constitutional arguments that were not accepted in the Mexican Circuit Court&#8217;s decision, and following the admission of the appeal, the Second Chamber of the Supreme Court of Justice assumed jurisdiction over the appeal on June 20, 2024.  On September 18, 2024, the Supreme Court issued its decision, which was formally notified to the Company on October 15, 2024. The Supreme Court dismissed the Company&#8217;s appeal regarding the constitutional arguments, but affirmed the validity of certain precedents of the Supreme Court which the Company believes are favourable to PEM and that were not considered by the Federal Tax Court in its original decision in September 2020. The case was sent back to the Federal Tax Court, and on December 4, 2024, the Federal Tax Court issued a new decision which did not take into account the Supreme Court precedents. Accordingly, on January 23, 2025, PEM filed a new constitutional lawsuit against the latest decision of the Federal Tax Court and such lawsuit was admitted by the Second Collegiate Court on February 18, 2025. The Company expects that a decision on this new lawsuit may be issued by the Second Collegiate Court in the second half of 2025.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:115%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">International Remedies</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">i. NAFTA APA Claim</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In respect of the APA, the Company submitted an Arbitration Request dated March 1, 2021 to the International Centre for Settlement of Investment Disputes (&#34;ICSID&#34;), on its own behalf and on behalf of PEM, pursuant to Chapter 11 of NAFTA (the &#8220;NAFTA APA Claim&#8221;). The NAFTA Arbitration Panel (the &#8220;Tribunal&#8221;) was fully constituted on August 20, 2021. Various procedural filings have since been made by the Company and Mexico.  </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Of note, on May 26, 2023, the Tribunal granted certain provisional measures requested by the Company, issuing an order for Mexico to allow the Company to access VAT refunds from January 4, 2023 onwards that had been deposited by the SAT into a bank account of PEM that had been frozen by the SAT, and to deposit all future VAT refunds into a new bank account of PEM  which shall remain freely accessible by the Company (the &#34;PM Decision&#34;). The PM Decision was upheld by the Tribunal on September 1, 2023, in response to a request from Mexico to revoke the decision. As a result, Mexico is </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">obligated to comply with the PM Decision which requires payment of VAT refunds owing to PEM as of January 4, 2023 and into the future until the final award is rendered by the Tribunal. On July 9, 2024, the Company received a transfer of $11.0 million (198.4 million MXN) from the frozen bank account to a new bank account of PEM that the Company had opened in July 2023. The transfer of such funds was carried out by Mexico in partial compliance with its obligations under the PM Decision. However, Mexico still needs to transfer approximately $4.5 million from the frozen bank account.  In addition, in breach of the PM Decision, on August 29, 2024 the SAT froze the new bank account that PEM had opened for the purpose of receiving VAT refunds.  Mexico argued that they did not need to comply with the PM Decision whilst their Consolidation Request (detailed below) was still being decided.  Following the rejection of Mexico&#8217;s Consolidation Request in July 2025, the suspension on the arbitration proceedings for the NAFTA APA Claim was lifted, and the Company informed the Tribunal of Mexico&#8217;s continued non-compliance with the PM Decision. On September 22, 2025, the Tribunal issued Procedural Order No. 8, wherein the Tribunal confirmed that full compliance with the PM Decision requires that all monthly VAT refunds by SAT in favour of PEM, already effected or to be made in the future while the arbitration on the NAFTA APA Claim is ongoing, must be freely available to PEM, by SAT depositing or transferring such amounts to accounts to be maintained freely available to PEM.  The Tribunal ordered Mexico to make available to PEM the approximately US$4.5 million worth of VAT refunds in the first frozen bank account.  The Tribunal also confirmed that the freezing by the SAT of PEM&#8217;s bank account that had been opened after the PM Decision was rendered for the purpose of receiving VAT refunds was contrary to the PM Decision, and that Mexico must remedy the situation to ensure that the VAT refunds currently in such bank account, and any VAT refunds deposited into such bank account in the future, are freely available to PEM.  The Company is currently waiting for Mexico to comply with the Tribunal&#8217;s latest order on this matter.</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 12, 2024, Mexico filed a request (the &#8220;Consolidation Request&#8221;) with ICSID pursuant to the procedure in Article 1126 of NAFTA to consolidate the NAFTA APA Claim and the NAFTA VAT Claim into one arbitration proceeding. A separate three-person tribunal to consider the Consolidation Request (the &#8220;Consolidation Tribunal&#8221;) was constituted on May 8, 2024, and the first procedural hearing of the Consolidation Tribunal took place on July 16, 2024.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to expedite the arbitration proceedings, the Company advised the Consolidation Tribunal and Mexico that it is proposing to add claims covered by the NAFTA VAT Claim to the NAFTA APA Claim as ancillary claims. On July 15, 2024, the Tribunal with jurisdiction over the NAFTA APA Claim granted the Company the right to introduce the ancillary claims to the NAFTA APA Claim, which would make it unnecessary for the NAFTA VAT Claim to proceed separately from the NAFTA APA Claim. On October 1, 2024, the Company submitted its request to the Secretary-General of ICSID to discontinue the NAFTA VAT Claim pursuant to Rule 56 of the 2022 ICSID Arbitration Rules. Mexico objected to the discontinuance on October 7, 2024, so pursuant to Rule 56, the proceedings with respect to the NAFTA VAT Claim will continue.  Mexico filed its Memorial in support of the Consolidation Request on October 7, 2024, and the Company filed its Counter-Memorial on December 6, 2024. On January 8, 2025, a pre-hearing conference call took place among the Company, Mexico and the Consolidation Tribunal, and an in-person hearing was held in Washington, D.C. from January 27 to 28, 2025, at which the Consolidation Tribunal heard the Company&#8217;s arguments against the Consolidation Request, and Mexico&#8217;s arguments in support of the Consolidation Request. Following the hearing, both Mexico and the Company submitted post-hearing briefs to the Consolidation Tribunal on February 19, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 28, 2025, the Consolidation Tribunal rendered its decision (the &#8220;Consolidation Decision&#8221;) and rejected the Consolidation Request. It also lifted the suspension on the arbitration proceedings related to the NAFTA APA Claim and the NAFTA VAT Claim effective immediately as of the date of its order, being July 28, 2025. Accordingly, the arbitration proceedings related to the NAFTA APA Claim and the NAFTA VAT Claim have now reconvened after being suspended for the past year.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the SAT&#8217;s attempts to retroactively nullify the APA are successful, the SAT can be expected to enforce any reassessments for 2010 through 2014 against PEM in respect of its sales of silver pursuant to the Old Stream Agreement. Such an outcome would likely have a material adverse effect on the Company&#8217;s results of operations, financial condition and cash flows. Should the Company ultimately be required to pay tax on its silver revenues based on spot market prices without any mitigating adjustments, the incremental income tax for the years 2010-2019 would be $308.0 million (5,661 million MXN), before taking into consideration interest or penalties.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the Company&#8217;s consultations with third party advisors, the Company believes PEM filed its tax returns in compliance with applicable Mexican law and that the APA is valid, therefore, at this time, no liability has been recognized in the financial statements with respect to this matter.</font></div><div style="text-align:justify;text-indent:14.5pt"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent it is ultimately determined that the pricing for silver sales under the Old Stream Agreement is significantly different from the PEM Realized Price, and while PEM would have rights of appeal in connection with any reassessments, it is likely to have a materially adverse effect on the Company&#8217;s business, financial position and results of operations.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 31, 2023, the Company filed a new Notice of Intent on its own behalf and on behalf of PEM under the &#34;legacy investment&#34; claim provisions contained in Annex 14-C of the Canada-United States-Mexico Agreement (&#8220;CUSMA&#8221;) and Chapter 11 of NAFTA to invite the Government of Mexico to engage in discussions to resolve the dispute regarding the ongoing denial of access to PEM&#8217;s VAT refunds (&#34;NAFTA VAT Claim&#34;) within the stipulated 90-day consultation period. The Company submitted its Arbitration Request for the NAFTA VAT Claim to ICSID on June 29, 2023 in order to preserve its legacy claim within NAFTA's applicable limitation period, and the Arbitration Request was registered by ICSID on July 21, 2023. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the Consolidation Decision, on October 21, 2025, the Company filed its Ancillary Claims Memorial with the Tribunal for the NAFTA APA Claim, and is currently in discussions with Mexico with respect to Mexico consenting to the discontinuance of the NAFTA VAT Claim.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While the Company remains confident in its position with regards to its NAFTA claims, it continues to engage with the Government of Mexico in consultation discussions so as to amicably resolve these disputes.</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">La Encantada Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, as part of the ongoing annual audits of the tax returns of Minera La Encantada, S.A. de C.V. (&#8220;MLE&#8221;) and Corporacion First Majestic S.A. de C.V. (&#8220;CFM&#8221;), the SAT issued tax assessments for fiscal 2012 and 2013 for corporate income tax in the amount of $40.3 million (741 million MXN) and $29.3 million (539 million MXN) including interest, inflation and penalties, respectively. In December 2022, the SAT issued tax assessments to MLE for fiscal years 2014 and 2015 for corporate income tax in the amount of $18.5 million (340 million MXN) and $232.4 million (4,272 million MXN). In 2023, the SAT issued a tax assessment to MLE for the fiscal year 2016 for corporate income tax in the amount of $3.3 million (60 million MXN). The SAT also issued an assessment for fiscal 2017 in the amount of $7.0 million (129 million MXN). The majority of these tax assessments relate to a prior forward silver purchase agreement to which MLE was a party, and to the denial of the deductibility of mine development costs and service fees. The Company continues to defend the validity of the forward silver purchase agreement and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes MLE&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">San Martin Tax Re-assessments</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023, as part of the ongoing annual audits of the tax returns of Minera El Pilon, S.A. de C.V. (&#8220;MEP&#8221;), the SAT issued tax assessments for fiscal 2014, 2015 and 2016 for corporate income tax in the total amount of $26.7 million (505 million MXN) including interest, inflation and penalties. In 2024, the SAT issued a tax assessment for fiscal 2017 for corporate income tax in the amount of $3.4 million (65 million MXN) including interest, inflation, and penalties. The majority of these tax assessments related to a prior forward silver purchase agreement to which MEP was a party, and to the denial of the deductibility of mine development costs.  Pursuant to ongoing discussions, the Company and SAT came to a resolution whereby the Company paid the SAT additional income taxes in the amount of $5.2 million (95.3 million MXN) in 2025 whereby amounts related to the forward silver purchase agreement were removed from the assessed amounts for the relevant years.  The tax assessments for fiscal 2014, 2015, 2016, and 2017 for corporate income tax now total $23.9 million (440 million MXN), including interest, inflation and penalties.  In 2025, the SAT issued an additional tax assessment for fiscal 2018 in the amount of $5.1 million (95 million MXN) including interest, inflation, and penalties.  The Company continues to defend the validity of the deductibility of the mine development costs and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes MEP&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">La Parrilla Tax Re-assessments</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023 and 2024, as part of the ongoing annual audits of the tax returns of First Majestic Plata, S.A. de C.V. (&#8220;FMP&#8221;), the SAT issued tax assessment for fiscal 2014, 2015, and 2016 for corporate income tax in the total amount of $29.2 million (536 million MXN) including interest, inflation and penalties. In 2025, the SAT issued a tax assessment for fiscal 2017 for corporate income tax in the total amount of $2.5 million (47 million MXN) including interest, inflation and penalties. The majority of these tax assessments relate to a prior forward silver purchase agreement to which FMP was a party, and to the denial of the deductibility of mine development costs. The Company continues to defend the validity of the forward silver purchase agreement and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes FMP&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Del Toro Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023, as part of the ongoing annual audits of the tax returns of First Majestic Del Toro, S.A. de C.V. (&#8220;FMDT&#8221;), the SAT issued tax assessment for fiscal 2015 and 2016 for corporate income tax in the total amount of $27.5 million (506 million MXN) including interest, inflation and penalties. The major items relate to and denial of the deductibility of mine development costs, refining costs, and other expenses. The Company continues to defend the validity of the expenses and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes FMDT&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">CFM Tax Re-assessments</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023, as part of the ongoing annual audits of the tax returns of CFM, the SAT issued tax assessment for fiscal 2016 for corporate income tax in the total amount of $80.1 million (1,473 million MXN) including interest, inflation and penalties. The major item relates to planning that took place post-acquisition of Santa Elena (via the acquisition of SilverCrest Mines Inc. on October 1, 2015) at the Canadian level. Mexico contends a right to tax a disposition of the shares of SilverCrest Mines Inc. by First Majestic Silver Corp. although the transaction in question involved the disposition of the shares of one Canadian company by another Canadian company and was reported for tax purposes in Canada. The Company continues to defend the validity of the transaction in question and will vigorously dispute the assessments that have been issued. The Company, based on advice from legal and financial advisors, believes CFM&#8217;s tax filings were appropriate and its tax filing position is correct, therefore no liability has been recognized in the financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">First Silver Litigation</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2013, the Company received a positive judgment on the First Silver litigation from the Supreme Court of British Columbia (the &#8220;Court&#8221;), which awarded the sum of $93.8 million in favour of First Majestic against Hector Davila Santos (the &#8220;Defendant&#8221;) in connection with a dispute between the Company and the Defendant and his private company involving a mine in Mexico (the &#8220;Bola&#241;os Mine&#8221;) as set out further below. The Company received a sum of $14.1 million in June 2013 as partial payment of the judgment, leaving an unpaid amount of $64.3 million (CAD$81.5 million). As part of the ruling, the Court granted orders restricting any transfer or encumbrance of the Bola&#241;os Mine by the Defendant and limiting mining at the Bola&#241;os Mine. The orders also require the Defendant to preserve net cash flow from the Bola&#241;os Mine in a holding account and periodically provide to the Company certain information regarding the Bola&#241;os Mine. After many years of domestic Mexican litigation, the enforceability of the British Columbia judgment was finally recognized by the Mexican Supreme Court in a written judgment on November 11, 2022. The Company is continuing its enforcement efforts in respect of the Defendant&#8217;s assets in Mexico. There are no assurances that the Company will be successful in collecting on the remainder of the Court&#8217;s judgment in respect of the Defendant&#8217;s assets. Therefore, as at September 30, 2025, the Company has not accrued any of the remaining $64.3 million (CAD$81.5 million) unrecovered judgment in favour of the Company.</font></div><div><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_85"></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.501%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:55.299%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">OTHER FINANCIAL INFORMATION</font></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Off-Balance Sheet Arrangements</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2025, the Company had no material off-balance sheet arrangements such as contingent interest in assets transferred to an entity, derivative instruments obligations or any obligations that generate financing, liquidity, market or credit risk to the Company, other than contingent liabilities and vendor liability and interest, as disclosed in this MD&#38;A and the consolidated financial statements and the related notes. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Share Repurchase Program</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 12, 2024 the Company renewed its ongoing share repurchase program (the &#8220;Share Repurchase Program&#8221;) which permitted it to repurchase up to 10,000,000 shares (3.32% of the Company's issued and outstanding shares as at September 4, 2024) until September 11, 2025. The Share Repurchase Program is a &#8220;normal course issuer bid&#8221; and will be carried out through the facilities of the Toronto Stock Exchange and alternative Canadian marketplaces. All common shares, if any, purchased pursuant to the Share Repurchase Program will be cancelled. The Company believes that from time to time, the market price of its common shares may not fully reflect the underlying value of the Company's business and its future business prospects. The Company believes that at such times, the purchase of common shares would be in the best interest of the Company. During the nine months ended September 30, 2025, the Company repurchased a total of 768,500 common shares at an average price of CAD$7.90 per share under its Share Repurchase Program, resulting in total payments of $4.3 million, net of transaction costs (September 30, 2024 &#8211; $nil). No shares were repurchased during the three months ended September 30, 2025. (September 30, 2024 &#8211; $nil). The Share Repurchase Program expired on September 11, 2025, and was renewed by the Company on October 14, 2025. Under the renewed Share Repurchase Program, the Company may repurchase up to 24.5 million common shares (5% of the Company&#8217;s issued and outstanding common shares as at September 30, 2025), and the program expires on October 13, 2026.</font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Related Party Disclosures</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2020, the Company entered into a streaming agreement with First Mining to purchase 50% of the payable silver produced over the life of the Springpole Gold Project for total consideration of $22.5 million in cash and shares, over three payments. Keith Neumeyer, our President &#38; Chief Executive Officer and a director of the Company, and Raymond Polman, a director of the Company, are each also directors of First Mining and accordingly may be considered to have a conflict of interest with respect to First Mining and the Springpole Silver Stream Agreement.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With the exception of the agreement with First Mining, there were no significant transactions with related parties during the nine months ended September&#160;30, 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Outstanding Share Data</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at November&#160;4, 2025, the Company has 491,228,838 common shares issued and outstanding. In addition, the following awards that were granted under the Company&#8217;s long-term incentive plan were outstanding as at November&#160;4, 2025&#58; </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.846%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.240%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Stock options</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,063,109&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restricted share units (share-settled)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,484,390&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred share units (share-settled)</font></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,161&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Performance share units (share-settled)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,128,891&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">9,706,551</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 2, 2021, the Company issued an aggregate of $230 million principal amount of 0.375% unsecured convertible senior notes due January 15, 2027 (the &#8220;Notes&#8221;). The Notes may be converted by the holders, in whole or in part, at any time. The initial conversion rate for the Notes is 60.3865 common shares per $1,000 principal amount of Notes, equivalent to an initial conversion price of approximately $16.56 per common share (subject to certain adjustment provisions, one of which requires an adjustment in connection with the payment of any dividends by the Company).</font></div><div style="text-align:justify"><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_88"></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:24.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:73.156%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">SUBSEQUENT EVENTS</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following significant events have occurred subsequent to September&#160;30, 2025&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Declaration of Quarterly Dividend</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November&#160;4, 2025, the Company&#8217;s Board of Directors approved the declaration of its quarterly common share dividend of $0.0052 per share, payable on or after November&#160;28, 2025, to common shareholders of record as at the close of business on November&#160;14, 2025. This dividend was declared subsequent to the quarter-end and has not been recognized as a distribution to owners during the period ended September&#160;30, 2025.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">PEM Tax Reassessment Update</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 27, 2019, PEM was served notice of a tax reassessment issued by the SAT in connection with the 2012 tax year which disregarded the Advance Pricing Agreement (&#8220;APA&#8221;) that had previously been granted to PEM by the SAT in October 2012 (see Note 26 above under &#8220;(b) Primero Tax Rulings&#8221; for further details). PEM has been challenging this reassessment through domestic legal proceedings in Mexico since it was issued. On December 5, 2024, the Collegiate Court issued a decision confirming the 2012 tax reassessment, notwithstanding the fact that the domestic proceedings which the SAT commenced in February 2015 seeking to retroactively nullify the APA are still ongoing, and that as of today, the APA still remains valid under Mexican law. As a result of the Collegiate Court&#8217;s decision, on January 22, 2025, PEM filed an extraordinary appeal against the decision, and such appeal was admitted on February 10, 2025 by the former President of the Mexican Supreme Court.  On March 3, 2025, the Mexican Ministry of Finance and Public Credit (the &#8220;Mexican Finance Ministry&#8221;) filed an appeal against the admission of PEM&#8217;s appeal by the Supreme Court.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsequent to September 30, 2025, the Company has been informed by its legal advisors in Mexico that on October 30, 2025, the Supreme Court issued a decision in favour of the appeal filed by the Mexican Finance Ministry, thereby overturning the February 10, 2025 admission of PEM&#8217;s appeal. As a result, the Supreme Court will not hear PEM&#8217;s appeal of the Collegiate Court&#8217;s decision regarding the 2012 tax reassessment. The Company has considered the implication of the decision and has concluded that no adjustment to these condensed interim financial statements is necessary. Refer to Note 26(b) above for further details regarding the tax reassessment for the 2012 tax year. The Company is currently waiting to be served with official notice of the Supreme Court&#8217;s decision to review the reasons provided by the Supreme Court in making its decision, and will consider what further actions, if any, it may take under Mexican domestic law and under international law after reviewing the decision.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tax reassessment for 2012 is one of various reassessments that the SAT has issued against PEM, notwithstanding that the APA is still currently valid (see Note 26(b) above for further details on the Reassessments), and the Company&#8217;s NAFTA arbitration proceedings in respect of the APA are still ongoing.  In addition, the Company&#8217;s domestic legal challenge with respect to SAT&#8217;s nullification action in Mexico regarding the APA is still ongoing. As stated in Note 26(b) above under &#8220;Domestic Remedies in Mexico&#8221;, the Company is currently waiting on the Second Collegiate Court to issue its decision on the matter.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Whilst the Company continues to pursue all legal challenges and remedies available to it under domestic and international law and remains confident in its position with regards to its NAFTA arbitration claims, the Company continues to engage with the SAT and the Mexican government with a view to reaching a comprehensive settlement and amicably resolving PEM&#8217;s tax disputes. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_91"></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:38.930%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">ACCOUNTING POLICIES, JUDGMENTS AND ESTIMATES</font></td></tr></table></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Critical Accounting Judgments and Estimates</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with IFRS Accounting Standards as issued by the International Accounting Standards Board (&#8220;IASB&#8221;) requires management to make judgments, estimates and assumptions about future events that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management&#8217;s best knowledge of the amount, events or actions, actual results may differ from these estimates. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">New and amended IFRS Accounting Standards that are effective for the current year</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the current year, the Company has applied the below amendments to IFRS Accounting Standards as issued by the International Accounting Standards Board (&#8220;IASB&#8221;) that were effective for annual periods that begin on or after January 1, 2025. Their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Lack of Exchangeability (Amendments to IAS 21)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments clarify how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. In addition, the amendments require the disclosure of information that enables users of financial statements to understand the impact of a currency not being exchangeable.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments were applied effective January 1, 2025 and did not have a material impact on the Company&#8217;s consolidated financial statements. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Future Changes in Accounting Policies Not Yet Effective as at September&#160;30, 2025&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the date of authorization of these financial statements, the Company has not applied the following new and revised IFRS Accounting Standards that have been issued but are not yet effective. Management does not expect that the adoption of the Standards listed below will have a material impact on the financial statements of the Company in future periods, except if indicated.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">Presentation and Disclosure in Financial Statements (Amendment to IFRS 18)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2024, the IASB released IFRS 18 Presentation and Disclosure in Financial Statements. IFRS 18 replaces IAS 1 Presentation of Financial Statements while carrying forward many of the requirements in IAS 1. IFRS 18 introduces new requirements to&#58; i) present specified categories and defined subtotals in the statement of earnings, ii) provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements, iii) improve aggregation and disaggregation. Some of the requirements in IAS 1 are moved to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and IFRS 7 Financial Instruments&#58; Disclosures. The IASB also made minor amendments to IAS 7 Statement of Cash Flows and IAS 33 Earnings per Share in connection with the new standard. IFRS 18 requires retrospective application with specific transition provisions. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments are effective for annual reporting periods beginning on or after January 1, 2027, although earlier application is permitted. The Company is currently evaluating the impact of IFRS 18 on the Company&#8217;s consolidated financial statements.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments provide guidance on the derecognition of a financial liability settled through electronic transfer, as well as the classification of financial assets for&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; Contractual terms consistent with a basic lending arrangement&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; Assets with non-recourse features&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; Contractually linked instruments.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the amendments introduce new disclosure requirements related to investments in equity instruments designated at fair value through other comprehensive income (&#8220;FVOCI&#8221;), and additional disclosures for financial instruments with contingent features. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These amendments are effective for annual reporting periods beginning on or after January 1, 2026, although earlier application is permitted. The Company is currently evaluating the impact of these amendments.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Critical Judgments and Estimates</font></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fair Value Estimates in the Acquisition of Gatos Silver, Inc.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In business combinations, it generally requires time to obtain the information necessary to identify and measure the following as of the acquisition date&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">     (i)   The identifiable assets acquired and liabilities assumed&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">     (ii)  The consideration transferred in exchange for an interest in the acquiree&#59;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">     (iii) Exploration potential and any resulting goodwill.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Company reports in its interim consolidated financial statements provisional amounts for the items for which the accounting is incomplete. These provisional amounts are adjusted during the measurement period, or additional assets or liabilities are recognized, to reflect new information obtained about facts and circumstances that existed as of the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date. The measurement period ends as soon as the Company receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable and shall not exceed one year from the acquisition date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of assets acquired and liabilities assumed requires that management make judgments and estimates taking into account information available at the time of the acquisition about future events including, but not restricted to, estimates of mineral reserves and resources, exploration potential, future metal prices, future operating costs and capital expenditures and discount rates. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the allowable measurement period, the Company will retrospectively adjust the provisional amounts recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date. The Company may also recognize additional assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date and, if known, would have resulted in the recognition of those assets and liabilities as of that date. The measurement period ends as soon as the Company receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable and shall not exceed one year from the acquisition date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of assets acquired and liabilities assumed are subject to change for up to one year from the Acquisition Date. If new information arises which would impact management's assessment of the fair value at the Acquisition Date, any adjustments to the allocation of the purchase consideration will be recognized retrospectively and comparative information will be revised. Consequently, the final allocation of the purchase price may result in different adjustments than those shown in the unaudited interim consolidated financial statements.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Consideration for the acquisition of Gatos Silver, Inc. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquisitions of businesses are accounted for using the acquisition method. The consideration of each business combination is measured, at the date of the exchange, as the aggregate of the fair value of assets given, liabilities incurred or assumed and equity instruments issued by the Company to the former owners of the acquiree in exchange for control of the acquiree.  Management made judgments and estimates in calculating the value of the shares and options transferred, including but not limited to share price, volatility, rate of quarterly dividends and the discount rate.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Determination of Control or Significant Influence in Los Gatos Joint Venture (the &#8220;LGJV&#8221;)</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the Gatos Silver acquisition, the Company now holds a 70% interest in the LGJV. Judgment is required to determine whether the Company controls or has significant influence over the LGJV, which impacts the accounting treatment to consolidate or account for the investment using the equity method, respectively. The assessment required judgment related to factors including, but not limited to, the relevant activities of the LGJV and the substantive rights of the shareholders to approve, among other things, operating policies, budgets, and financing plans. The Company determined that, based on its ability to direct the activities that most significantly affect the returns of the LGJV, it had obtained control over LGJV as of January 16, 2025.</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Revenue Recognition </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue from concentrate sales to independent smelters is recognized when control of the asset is transferred to the customer. Contracts typically provide for provisional payments based on assays and quoted metal prices, with final settlement based on commodity prices during specified quotational periods, ranging from one month prior to shipment to three months after arrival at the smelter. Sales revenue is initially recognized on a provisional basis using the Company&#8217;s best estimate of contained metal and adjusted subsequently. Revenue on provisionally priced sales is recognized based on significant fair value estimates using forward market prices and quantities. At each reporting date, mark-to-market adjustments are made to provisionally priced metal based on the contract's quotational period. In periods of high price volatility, mark-to-market adjustments for unsettled metal quantities can be significant. Provisional sales quantities are adjusted upon receipt of new information.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">New Accounting Policies</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Non-Controlling Interest</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-controlling interest represents equity interests in subsidiaries owned by external parties. The share of net assets of subsidiaries attributable to non-controlling interests is presented as a component of equity. Non-controlling interest is allocated a share of net income and other comprehensive income, which is recognized directly in equity, even if the results of the non-controlling interest show a deficit balance. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company treats transactions with non-controlling interests as transactions with equity shareholders. Changes in the Company's ownership interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. Non-controlling interests are measured either at fair value or at the non-controlling interests&#8217; proportionate share of the recognized amounts of the acquirers&#8217; identifiable net assets as at the date of acquisition. The choice of measurement basis is made on a transaction by transaction basis. The Company elected to measure the non-controlling interest of the LGJV at the date the Company acquired control, based on the proportionate share of the entity's recognized net assets.</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Revenue Recognition</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company's primary product is silver and gold. Other metals, such as zinc, lead, and copper produced as part of the extraction process are considered to be by-products arising from the production of silver and gold. Smelting and refining charges are net against revenue from the sale of metals. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue relating to the sale of metals is recognized when control of the metal or related services are transferred to the customer in an amount that reflects the consideration the Company expects to receive in exchange for the metals.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When considering whether the Company has satisfied its performance obligation, it considers the indicators of the transfer of control, which include, but are not limited to, whether&#58; the Company has a present right to payment&#59; the customer has legal title to the asset&#59; the Company has transferred physical possession of the asset to the customer&#59; and the customer has the significant risks and rewards of ownership of the asset</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Metals in dor&#233; sold are priced on date of transfer of control. Final weights and assays are adjusted on final settlement which is approximately one month after delivery. Metals in concentrate sold are provisionally priced at the date of transfer of control as the final selling price is subject to movements in the monthly average prices up to the final settlement date, typically one to three months after delivery to the customer. For this purpose, the transaction price can be measured reliably for those products, such as silver, gold, zinc, lead and copper, for which there exists an active and freely traded commodity market such as the London Metals Exchange and the value of product sold by the Company is directly linked to the form in which it is traded on that market.                  </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales revenue is commonly subject to adjustments based on an inspection of the product by the customer. In such cases, sales revenue is initially recognized on a provisional basis using the Company&#8217;s best estimate of contained metal, and adjusted subsequently. Revenues are recorded under these contracts at the time control passes to the buyer based on the expected settlement period. Revenue on provisionally priced sales is recognized based on estimates of the fair value of the consideration receivable, which is determined using forward market prices and estimated quantities. At each reporting date, provisionally priced metal is marked to market based on the forward selling price for the quotational period stipulated in the contract. Variations between the price recorded at the date when control is transferred to the buyer and the actual final price set under the smelting contracts are caused by changes in metal prices.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue from the sale of coins, ingots and bullion is recorded when the products have been shipped and funds have been received. When cash was received from customers prior to shipping of the related finished goods, the amounts are recorded as unearned revenue until the products are shipped.</font></div><div style="text-align:justify"><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_94"></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.090%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:72.710%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">NON-GAAP MEASURES</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has included certain non-GAAP measures including &#8220;Cash costs per silver equivalents ounce&#8221;, &#8220;All-in sustaining cost (&#8220;AISC&#8221;) per silver equivalent ounce&#8221;, &#8220;AISC per gold ounce&#8221;, &#8220;Production cost per tonne&#8221;, &#8220;Average realized silver price per silver equivalent ounce&#8221;, &#8220;Average realized gold price&#8221;, &#8220;Adjusted net earnings&#8221;, &#8220;Adjusted earnings per share&#8221;, &#8220;Earnings before interest, tax, depreciation and amortization&#8221; (&#8220;EBITDA&#8221;), &#8220;Adjusted EBITDA&#8221;, &#8220;Free cash flow&#8221; and &#8220;Working capital&#8221; to supplement its consolidated financial statements, which are presented in accordance with IFRS Accounting Standards. The terms IFRS and generally accepted accounting principles (&#8220;GAAP&#8221;) are used interchangeably throughout this MD&#38;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes that these measures, together with measures determined in accordance with IFRS Accounting Standards, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS Accounting Standards and the methods used by the Company to calculate such measures may differ from methods used by other companies with similar descriptions, therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash Cost per AgEq Ounce, AISC per AgEq Ounce, AISC per Au Ounce, and Production Cost per Tonne </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash costs per AgEq ounce and total production cost per tonne are non-GAAP performance measures used by the Company to manage and evaluate operating performance at each of the Company&#8217;s operating mining units, in conjunction with the related GAAP amounts. These metrics are widely reported in the mining industry as benchmarks for performance but do not have a standardized meaning and are disclosed in addition to IFRS Accounting Standards measures. Management and investors use these metrics for comparing the costs against peers in the industry and for assessing the performance of each mine within the portfolio.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:174%">Management calculates the cash costs per ounce and production costs per tonne by&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">starting with the production costs (GAAP) from the income statement&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">adding back duties and royalties, smelting and refining costs as well as transportation and selling costs, which form a part of the cost of sales on the financial statements and provide a better representation of total costs incurred&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">cash costs are divided by the payable silver equivalent ounces produced&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">production costs are divided by the total tonnes milled. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">AISC is a non-GAAP performance measure and was calculated by the Company based on guidance provided by the World Gold Council (&#8220;WGC&#8221;). WGC is not a regulatory industry organization and does not have the authority to develop accounting standards for disclosure requirements. Other mining companies may calculate AISC differently as a result of differences in underlying accounting principles and policies applied, as well as differences in definitions of sustaining versus expansionary capital expenditures. AISC is a more comprehensive measure than cash cost per ounce and is useful for investors and management to assess the Company&#8217;s operating performance by providing greater visibility, comparability and representation of the total costs associated with producing silver from its current operations, in conjunction with related GAAP amounts. AISC helps investors to assess costs against peers in the industry and help management assess the performance of each mine within the portfolio in a standardized manner. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company defines sustaining capital expenditures as &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">costs incurred to sustain and maintain existing assets at current productive capacity and constant planned levels of productive output without resulting in an increase in the life of assets, future earnings, or improvements in recovery or grade. Sustaining capital includes costs required to improve&#47;enhance assets to minimum standards for reliability, environmental or safety requirements. Sustaining capital expenditures excludes all expenditures at the Company&#8217;s new projects and certain expenditures at current operations which are deemed expansionary in nature.&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expansionary capital expenditures are defined by the Company as </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#34;costs incurred to extend existing assets beyond their current productive capacity and beyond their planned levels of productive output, resulting in an increase in the life of the assets, increasing their future earnings potential, or improving their recoveries or grades which would serve to increase the value of the assets over their useful lives&#34;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Development and exploration work which moves inferred resources to measured or indicated resources and adds to the Net Present Value of the assets is considered expansionary in nature. Expansionary capital also includes costs required to improve&#47;enhance assets beyond their minimum standard for reliability, environmental or safety requirements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Consolidated AISC includes total production costs (GAAP measure) incurred at the Company&#8217;s mining operations, which forms the basis of the Company&#8217;s total cash costs. Additionally, the Company includes sustaining capital expenditures, corporate general and administrative expenses, share-based payments, operating lease payments and reclamation cost accretion. AISC by mine does not include certain corporate and non-cash items such as general and administrative expense and share-based payments. The Company believes this measure represents the total sustainable costs of producing silver from current operations and provides additional information of the Company&#8217;s operational performance and ability to generate cash flows. As the measure seeks to reflect the full cost of silver production from current operations, new projects and expansionary capital at current operations are not included. Certain other cash expenditures, including tax payments, dividends and financing costs are also not included. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_97"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables provide detailed reconciliations of these measures to cost of sales, as reported in notes to our consolidated financial statements.</font></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.218%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.846%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.846%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.846%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.846%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.846%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.852%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(expressed in thousands of <br>U.S. Dollars, except ounce and per ounce amounts)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Three Months Ended September 30, 2025</font></td></tr><tr style="height:23pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Los Gatos</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:700;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$15,645&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$15,089&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$3,189&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$44,734&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,579&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,667&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,441&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,573&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">29,260&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,146&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,582&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,612&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,894&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">28,234&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$20,536</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$31,894</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$36,142</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$13,656</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$102,228</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; transportation and other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,995&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">344&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">742&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">96&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,027&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">793&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">116&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">287&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">125&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,321&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; environmental duty and <br>royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">309&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4,239&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">813&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">262&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,623&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; change in inventory</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(1,040)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(2,786)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">385&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(294)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(3,735)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total cash cost (B)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$23,593</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$33,807</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$38,369</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$13,845</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$110,464</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">890&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,375&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,366&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">438&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,069&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,310&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4,382&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">167&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">323&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4,215&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,975&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,073&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">13,696&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,802&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">808&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,147&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,106&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$155,170</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" 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0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">575,424</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#333399;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">7,358,331</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Payable gold ounces produced (E)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Tonnes milled (F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">213,262</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:3.47pt">All production and costs shown in the table above are reported on an attributable basis to account for the Company's 70% ownership of the Los Gatos mine.</font></div><div style="margin-top:3pt;text-align:center"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:3pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.511%"><tr><td style="width:1.0%"></td><td style="width:42.253%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.229%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.229%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.229%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.229%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.231%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(expressed in thousands of U.S. Dollars, <br>except ounce and per ounce amounts)</font></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Three Months Ended September 30, 2024</font></td></tr><tr style="height:23pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mining cost </font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$12,313&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$30,491&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,156&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,177&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,411&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">22,744&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,550&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,103&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,661&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">21,314&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$28,019</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$32,947</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$13,583</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$74,549</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; transportation and other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">280&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">283&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">78&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">632&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">115&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">316&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">106&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">368&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">905&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; environmental duty and royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,376&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">392&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">132&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,900&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; Change in Inventory</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">277&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">854&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(76)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,017&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,072&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total cash cost (B)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$32,067</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$34,792</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$13,823</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$2,385</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$83,058</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">752&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,902&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">292&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4,946&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9,060&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,935&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">307&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">343&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">284&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">934&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Sustaining capital expenditures</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,779&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,799&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,020&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9,750&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,657&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">364&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,068&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4,442&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">All-In Sustaining Costs (C)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$115,125</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Payable silver equivalent ounces produced (D)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2,681,347</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">547,712</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">138,330</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">5,473,016</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Payable gold ounces produced (E)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">1,600</font><font 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">259,919</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">195,279</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Cash cost per AgEq ounce (B&#47;D)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$11.96</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td 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colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$21.03</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Cash cost per Au ounce (B&#47;E)</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">1,491</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">AISC per Au ounce (C&#47;E)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">1,491</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Production cost per tonne (A&#47;F)</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$107.80</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$168.45</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$60.86</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$109.81</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="margin-top:3pt;text-align:justify"><font><br></font></div><div style="margin-top:8pt;text-align:center"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_100"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.914%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.540%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.540%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.686%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(expressed in thousands of U.S. Dollars, <br>except ounce and per ounce amounts)</font></td><td colspan="18" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2025</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Los Gatos</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:700;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mining cost</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">30,352&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">38,974&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">47,626&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">14,155&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">131,107&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,402&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">31,392&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">25,229&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">19,044&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">88,067&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15,550&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15,878&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">37,489&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11,263&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">80,180&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">58,304</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">86,244</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">110,344</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">44,462</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">299,354</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; transportation and <br>&#160;other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9,301&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">868&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">848&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">260&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">38&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,306&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,833&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">316&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">881&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">382&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,422&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; environmental duty and<br>&#160;royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,777&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11,612&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,157&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">836&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">16,390&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; change in inventory</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(164)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(4,665)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(1,040)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(359)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(6,228)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total cash cost (B)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$71,051</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$94,375</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$113,190</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$45,581</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$56</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$325,244</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,482&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,024&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">18,280&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">552&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">28,338&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">34,865&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">13,688&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">475&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">970&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,049&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">907&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,401&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Sustaining capital expenditures</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,372&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9,458&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">13,146&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4,625&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">37,923&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,349&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,897&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,334&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12,586&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">All-In Sustaining Costs (C)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$83,385</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$119,176</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$147,562</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$54,999</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$56</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" 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style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Tonnes milled (F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">640,567</font><font 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2,945,181</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$&#8212;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Production cost per tonne (A&#47;F)</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$91.02</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$105.44</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$161.19</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$55.42</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">&#8211;</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$101.64</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)   All production and costs shown in the table above are reported on an attributable basis to account for the Company's 70% ownership of the Los Gatos mine and includes production starting on January 16, 2025.</font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:3pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.702%"><tr><td style="width:1.0%"></td><td style="width:36.959%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.288%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.288%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.288%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.288%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.289%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(expressed in thousands of U.S. Dollars, except ounce and per  ounce amounts)</font></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months ended September 30, 2024</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Santa Elena</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">San Dimas</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">La Encantada</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Jerritt Canyon</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Consolidated</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Mining cost</font></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$37,090&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$42,757&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$12,805&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$&#8212;&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$92,652&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Milling cost </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">29,357&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">23,153&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15,735&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">20&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">68,265&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Indirect cost </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">16,107&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">38,311&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11,025&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">65,443&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total production cost (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$82,554</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$104,221</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$39,565</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$20</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$226,360</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; transportation and other selling cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">800&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">824&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">163&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,921&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; smelting and refining cost</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">340&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">983&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">324&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">377&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,024&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; environmental duty and royalties cost</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8,950&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">911&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">455&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">12&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,328&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add&#58; change in inventory</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(1,394)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">258&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(1,257)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,875&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">482&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Total cash cost (B)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$91,250</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$107,197</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$39,250</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$3,284</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$241,115</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Workers&#8217; participation</font></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,007&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11,407&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">992&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15,406&#160;</font></td><td style="background-color:#ffffff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">27,067&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Share-based 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style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10,895&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Accretion of decommissioning liabilities</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">921&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,030&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">853&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,804&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Sustaining capital expenditures</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9,563&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">18,816&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,066&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">31,676&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6,130&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,017&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3,142&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11,396&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">All-In Sustaining Costs (C)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$110,871</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$139,467</font><font 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">6,573,377</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">1,591,516</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">201,410</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">15,901,595</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:2pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Payable gold ounces produced (E)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2,321</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">N&#47;A</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Tonnes milled (F)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">740,740</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">557,424</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">643,453</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 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style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><div id="i32be6b856347497cbb3bced14aa7fdf0_103"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Average Realized Silver Price per Silver Equivalent Ounce </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues are presented as the net sum of invoiced revenues related to delivered shipments of silver or gold dor&#233; bars, including associated metal by-products of lead and zinc after having deducted refining and smelting charges, and after elimination of intercompany shipments of silver, silver being minted into coins, ingots and bullion products. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The average realized silver price is a non-GAAP performance measure that allows management and investors to assess the Company&#8217;s ability to sell ounces produced, in conjunction with related GAAP amounts. Management calculates this measure by taking total revenue reported under GAAP and adding back smelting and refining charges to arrive at the gross reportable revenue for the period. Gross revenues are divided into payable silver equivalent ounces sold to calculate the average realized price per ounce of silver equivalents sold. The streaming and royalty agreements in place between the Company and Sandstorm as well as Wheaton, impacts the total revenues reported on the financial statements given the reduced prices provided to these vendors in line with the terms of the agreements. Therefore, management adjusts revenue to exclude smelting and refining charges as well as revenues earned through agreements with these vendors. This provides management with a better picture regarding its ability to convert ounces produced to ounces sold and provides the investor with a clear picture of the price that the Company can currently sell the inventory for, excluding pre-arranged agreements. </font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.851%"><tr><td style="width:1.0%"></td><td style="width:49.421%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.971%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.676%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Revenues as reported</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$285,063</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$146,087</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$793,234</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$388,267</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Add back&#58; smelting and refining charges</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1,660&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">905&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4,207&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2,024&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Gross revenues</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$286,723</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">146,992</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">797,441</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">390,291</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Sandstorm gold revenues</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(10)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Wheaton gold revenues</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(4,281)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(4,472)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(14,622)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(13,794)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Gross revenues, excluding Sandstorm, Wheaton (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$282,442</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$142,520</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$782,819</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$376,487</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Payable silver equivalent ounces sold</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7,820,828&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5,377,377&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">24,238,937&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15,665,979&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Payable silver equivalent ounces sold to Sandstorm</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(1,837)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Payable silver equivalent ounces sold to Wheaton</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(584,779)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Payable silver equivalent ounces sold, excluding Sandstorm and Wheaton (B)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">7,236,049</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">4,775,717</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">22,143,032</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">13,817,389</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Average realized silver price per silver equivalent ounce (A&#47;B)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$39.03</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$29.84</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$35.35</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$27.25</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Average market price per ounce of silver per COMEX</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$39.53&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$29.46&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$35.04&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$27.22&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:5pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Average Realized Gold Price per Ounce </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues are presented as the net sum of invoiced revenues related to delivered shipments of silver or gold dor&#233; bars, including associated metal by-products of lead and zinc after having deducted refining and smelting charges, and after elimination of intercompany shipments of silver, silver being minted into coins, ingots and bullion products. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The average realized gold price is a non-GAAP performance measure that allows management and investors to assess the Company&#8217;s ability to sell ounces produced, in conjunction with related GAAP amounts. Management calculates this measure by taking total revenue reported under GAAP and adding back smelting and refining charges to arrive at the gross reportable revenue for the period. Silver revenues are deducted from the reportable revenue for the period in order to arrive at the gold revenue for the period. Gross gold revenues are divided into gold ounces sold to calculate the average realized price per ounce of gold sold. The streaming and royalty agreements in place between the Company and Sandstorm as well as Wheaton, impacts the total revenues reported on the financial statements given the reduced prices provided to these vendors in line with the terms of the agreements. Therefore, management adjusts revenue to exclude smelting and refining charges as well as revenues earned through agreements with these vendors. This provides management with a better picture regarding its ability to convert ounces produced to ounces sold and provides the investor with a clear picture of the price that the Company can currently sell the inventory for, excluding pre-arranged agreements. </font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:50.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.358%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.990%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.358%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.358%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.361%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Gross revenue, excluding Sandstorm, Wheaton </font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$282,442</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$142,520</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$782,819</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$376,487</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Silver revenues</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(160,179)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(57,654)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(443,303)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(158,560)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Lead Revenue</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(7,910)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(27,592)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Zinc Revenue</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(22,172)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(58,831)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Copper Revenue</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(593)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(1,442)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Gross gold revenues, excluding Sandstorm, Wheaton (A)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$91,588</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$84,866</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$251,651</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$217,927</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Gold ounces sold</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">33,598&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">41,258&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">104,291&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">116,228&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Gold ounces sold to Wheaton</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(6,655)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(7,022)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(22,853)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(21,756)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Gold ounces sold to Sandstorm</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(21)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Gold ounces sold, excluding Sandstorm and Wheaton (B)</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">26,943</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">34,236</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">81,438</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">94,451</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Average realized gold price per ounce (A&#47;B)</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$3,399</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$2,479</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$3,090</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$2,307</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Average market price per ounce of gold</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$3,458&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$2,477&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$3,203&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">$2,296&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Free Cash Flow</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Free cash flow is a non-GAAP liquidity measure which is determined based on operating cash flows less sustaining capital expenditures. Management uses free cash flow as a critical measure in the evaluation of liquidity in conjunction with related GAAP amounts. It also uses the measure when considering available cash, including for decision-making purposes related to dividends and discretionary investments. Further, it helps management, the Board of Directors and investors evaluate a Company&#8217;s ability to generate liquidity from operating activities. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.692%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.660%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Operating cash flows </font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$112,520</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$41,038</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$258,118</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$70,316</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Less&#58; Sustaining capital expenditures</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">13,696&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9,750&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">37,923&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">31,676&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Free cash flow</font></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$98,824</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$31,288</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$220,195</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">$38,640</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Sustaining capital expenditures are based on the attributable expenditures from Los Gatos relating to the Company's 70% ownership of the entity. </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Adjusted Earnings per Share (&#8220;Adjusted EPS&#8221;)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses the financial measure &#8220;Adjusted EPS&#8221; which is a non-GAAP measure, to supplement earnings per share (GAAP) information in its consolidated financial statements. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors and analysts use this information to evaluate the Company&#8217;s performance. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management uses adjusted earnings per share as a critical measure of operating performance in conjunction with the related GAAP amounts. The only items considered in the adjusted earnings-per-share calculation are those that management believes (1) may affect trends in underlying performance from year to year and (2) are not considered normal recurring cash operating expenses. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted earnings per share is used for forecasting, operational and strategic decision making, evaluating current Company and management performance, and calculating financial covenants. Management believes that excluding certain non-cash and non-recurring items from the calculation increases comparability of the metric from period to period, which makes it useful for management, the audit committee and investors, to evaluate the underlying core operations. The presentation of Adjusted EPS is not meant to be a substitute for EPS presented in accordance with IFRS Accounting Standards, but rather should be evaluated in conjunction with such IFRS Accounting Standards measure.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To calculate adjusted earnings per share, management adjusts from net earnings (GAAP), the per-share impact, net of the tax effects of adjustments, of the following&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">share based payments&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">realized and unrealized gains and losses from investment in derivatives and marketable securities&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">other infrequent or non-recurring losses and gains. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table provides a detailed reconciliation of net earnings (losses) as reported in the Company&#8217;s condensed interim consolidated financial statements to adjusted net earnings and Adjusted EPS&#58;</font></div><div style="margin-top:5pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.107%"><tr><td style="width:1.0%"></td><td style="width:45.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.662%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.662%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.662%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.550%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.668%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) attributable to owners of the company as reported</font></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$26,978</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($26,593)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$81,790</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,407)</font></td><td style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Adjustments for non-cash or unusual items&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred income tax (recovery) expense</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,625)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,235&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(36,550)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,094&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gain from investment in marketable securities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,893)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(108)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,161)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(205)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,382&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,935&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,688&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,895&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition costs</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,584&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Abnormal costs </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,975&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,732&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,759&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restructuring costs </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Write-down of mineral inventory</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,465&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Adjusted net earnings (loss)</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$32,373</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($10,531)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$71,639</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($49,399)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Weighted average number of shares on issue - basic</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">488,722,642&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">301,000,656&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">475,754,745&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">293,440,674&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Adjusted EPS</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.07</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.03)</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$0.16</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($0.17)</font></td><td style="background-color:#ffffff;border-bottom:2pt solid #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Abnormal costs in 2025 include elevated waste costs from ore below cut-off grade at La Encantada, as poor ground conditions impacted mine development activities. Additionally, abnormal costs included elevated maintenance and energy costs at Santa Elena along with higher diesel generator rental costs and energy charges driven by weather related events at San Dimas. Abnormal costs in 2024 relate to $1.8 million incurred at San Dimas as a result of increased diesel consumption due to the use of back up energy sources following low water levels at the Las Truchas hydroelectric dam and damage to the power lines at the hydroelectric plant.</font></div><div style="margin-bottom:3pt;padding-left:9pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Earnings before interest, taxes, depreciation and amortization (&#8220;EBITDA&#8221;) and Adjusted EBITDA</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company uses the financial measures &#8220;EBITDA&#8221; and &#8220;Adjusted EBITDA&#8221; which are both non-GAAP measures, to supplement net earnings (GAAP) information in its consolidated financial statements. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors and analysts use this information to evaluate the Company&#8217;s performance. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management uses EBITDA and Adjusted EBITDA as a critical measure of operating performance in conjunction with the related GAAP amounts. EBITDA is profit before net finance expense, provision for income taxes, and depreciation and amortization. The only items considered in the Adjusted EBITDA calculation are those that management believes (1) may affect trends in underlying performance from year to year and (2) are not considered normal recurring cash operating expenses. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">EBITDA and Adjusted EBITDA is used for forecasting, operational and strategic decision making and evaluating current Company and management performance. Management believes that excluding certain non-cash and non-recurring items from the EBITDA calculation increases comparability of the metric from period to period, which makes it useful for management, the audit committee and investors, to evaluate the underlying core operations. The presentation of EBITDA and Adjusted EBITDA is not meant to be a substitute for net earnings presented in accordance with IFRS, but rather should be evaluated in conjunction with such IFRS Accounting Standards measure.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To calculate EBITDA, management adjusts from net earnings (GAAP) by adding back finances costs, depletion, depreciation and amortization, and income taxes. To calculate Adjusted EBITDA, management adjusts from EBITDA, net of the tax effects of adjustments, the following&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">share-based payments&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">realized and unrealized gains and losses from investment in derivatives and marketable securities&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">other infrequent or non-recurring losses and gains. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table provides a detailed reconciliation of net earnings (losses) as reported in the Company&#8217;s condensed interim consolidated financial statements to EBITDA and Adjusted EBITDA&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.072%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.552%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three Months Ended September 30,</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2024</font></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net earnings (loss) as reported</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$42,962</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($26,593)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$105,781</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">($88,407)</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Add back&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,111&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,858&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,872&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,277&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depletion, depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55,195&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,251&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">192,027&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">90,444&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,356&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,409&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,605&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,801&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">EBITDA</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">128,624</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">36,925</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">347,285</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">65,115</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Adjustments for non-cash or unusual items&#58;</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gain from investment in marketable securities</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,893)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(108)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,161)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(205)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,382&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,935&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,688&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,895&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Restructuring costs </font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,556&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Write-down of mineral inventory</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,465&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Abnormal Costs</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,975&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,732&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,759&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acquisition costs</font></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,584&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</font></td><td style="background-color:#cfdbff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 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style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$79,029</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) Abnormal costs in 2025 include elevated waste costs from ore below cut-off grade at La Encantada, as poor ground conditions impacted mine development activities. Additionally, abnormal costs included elevated maintenance and energy costs at Santa Elena along with higher diesel generator rental costs and energy charges driven by weather related events at San Dimas. Abnormal costs in 2024 relate to $1.8 million incurred at San Dimas as a result of increased diesel consumption due to the use of back up energy sources following low water levels at the Las Truchas hydroelectric dam and damage to the power lines at the hydroelectric plant.</font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Working Capital and Available Liquidity</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Working capital is determined based on current assets and current liabilities as reported in the Company&#8217;s consolidated financial statements. The Company uses working capital as a measure of the Company&#8217;s short-term financial health and operating efficiency. Available liquidity includes the Company&#8217;s working capital and undrawn revolving credit facility. </font></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.702%"><tr><td style="width:1.0%"></td><td style="width:62.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.661%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.364%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 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0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$364,154</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:2pt solid #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div id="i32be6b856347497cbb3bced14aa7fdf0_106"></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table 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management, with the participation of its President &#38; Chief Executive Officer (&#8220;CEO&#8221;) and Chief Financial Officer (&#8220;CFO&#8221;), has evaluated the effectiveness of the Company&#8217;s disclosure controls and procedures. Based upon the results of that evaluation, the Company&#8217;s CEO and CFO have concluded that, as of September&#160;30, 2025, the Company&#8217;s disclosure controls and procedures were effective to provide reasonable assurance that the information required to be disclosed by the Company in reports it files is recorded, processed, summarized and reported, within the appropriate time periods and is accumulated and communicated to management, including the CEO and CFO, as appropriate to allow timely decisions regarding required disclosure.</font></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Internal Control over Financial Reporting</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s management, with the participation of its CEO and CFO, is responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined in the rules of the United States Securities and Exchange Commission and the Canadian Securities Administrators. The Company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with IFRS Accounting Standards as issued by the IASB. The Company&#8217;s internal control over financial reporting includes policies and procedures that&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.27pt">maintain records that accurately and fairly reflect, in reasonable detail, the transactions and dispositions of assets of the Company&#59;</font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; &#160;&#160;&#160;&#160;provide reasonable assurance that transactions are recorded as necessary for preparation of financial statements in accordance with IFRS Accounting Standards as issued by IASB&#59;</font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.27pt">provide reasonable assurance that the Company&#8217;s receipts and expenditures are made only in accordance with authorizations of management and the Company&#8217;s Directors&#59; and</font></div><div style="padding-left:27pt;text-align:justify;text-indent:-11.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226; provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company&#8217;s assets that could have a material effect on the Company&#8217;s consolidated financial statements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s internal control over financial reporting may not prevent or detect all misstatements because of inherent limitations. Additionally, projections of any evaluation of effectiveness for future periods are subject to the risk that controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with the Company&#8217;s policies and procedures.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s management evaluated the effectiveness of our internal controls over financial reporting based upon the criteria set forth in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on management&#8217;s evaluation, our CEO and CFO concluded that our internal controls over financial reporting was effective as of September&#160;30, 2025. There have been no significant changes in our internal controls during the quarter ended September&#160;30, 2025 that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting. Refer to the &#34;Report of Independent Registered Public Accounting Firm&#34; section of the financial statements for the independent registered public accounting firm's attestation regarding the Company's internal control over financial reporting.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management excluded from its assessment the internal controls, policies and procedures of Gatos Silver, which the Company acquired on January 16, 2025. On a combined basis, Gatos Silver's total assets and net assets as of September&#160;30, 2025 constitute approximately 48% and 50%, respectively, of the condensed interim consolidated financial statement amounts as of September&#160;30, 2025. On a combined basis, Gatos Silver's total revenues and net profit for the three and nine months ended September 30, 2025 constitute approximately 38% and 122%, and 38% and 72%, respectively, of the condensed interim consolidated financial statement amounts as of September&#160;30, 2025. This limitation of scope is in accordance with section 3.3(1)(b) of NI 52-109, which allows for an issuer to limit the design of DC&#38;P or ICFR to exclude a business that the issuer acquired not more than 365 days before the end of the financial period to which the CEO&#8217;s and CFO&#8217;s certification of annual filings relates. With the exception of the internal controls of Gatos Silver, there have been no significant changes in our internal controls during the quarter ended September&#160;30, 2025 that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Limitations of Controls and Procedures</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s management, including the President and CEO and CFO, believes that any disclosure controls and procedures or internal control over financial reporting, no matter how well conceived and operated, may not prevent or detect all misstatements because of inherent limitations. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, they cannot provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been prevented or detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple errors or mistakes. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by unauthorized override of the control. The design of any control system also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Accordingly, because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div id="i32be6b856347497cbb3bced14aa7fdf0_109"></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.703%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:68.097%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cfdbff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">CAUTIONARY STATEMENTS</font></td></tr></table></div><div><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cautionary Note regarding Forward-Looking Statements</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain information contained herein this MD&#38;A constitutes forward-looking statements under applicable securities laws (collectively, &#8220;forward-looking statements&#8221;). These statements relate to future events or the Company&#8217;s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to&#58; commercial mining operations&#59; anticipated mineral recoveries&#59; projected quantities of future mineral production&#59; statements with respect to the Company&#8217;s business strategy&#59; future planning processes&#59; interpretation of drill results and other technical data&#59; anticipated development, expansion, exploration activities and production rates and costs and mine plans and mine life&#59; assumptions used in determining the fair value of mining interests&#59; statements related to production outlook and cost guidance, including, but not limited to, estimates of silver equivalent production and annual cash costs&#59; statements relating to potential capital investments&#59; the results of the exploration efforts on the Navidad (as defined herein) system at the Santa Elena property&#59; the security situation at the San Martin mine&#59; the estimated cost and timing of plant improvements at the Company&#8217;s operating mines and development of the Company&#8217;s development projects&#59; statements with respect to water source development and water inventory levels at La Encantada&#59; the timing of completion of exploration programs and drilling programs and the results thereof&#59; the restarting of operations or potential plans at the Company's temporarily suspended and&#47;or non-operating mines&#59; the temporary suspension of processing activities at Jerritt Canyon&#59; future exploration activities at Jerritt Canyon and the costs thereof&#59; conversion of mineral resources to proven and probable mineral reserves&#59; analyses and other information that are based on forecasts of future results&#59; estimates of amounts not yet determinable&#59; statements with respect to the Company&#8217;s future financial position including operating efficiencies, cash flow, capital budgets, costs and expenditures, cost savings, allocation of capital, and statements with respect to the recovery of value added tax receivables and the tax regime in Mexico&#59; the implementation and effect of cost reduction initiatives&#59; implementation of LNG supplemental power&#59; retention of contractors&#59; the continued integration of the Los Gatos mine with the business through identifying and realizing synergies&#59; the preparation of technical reports and completion of preliminary economic assessments&#59; viability of the Company&#8217;s projects&#59; potential metal recovery rates&#59; sales of bullion direct to customers&#59; payment of dividends&#59; the operations of mines that are not wholly-owned or that are owned through joint arrangements&#59; the potential impact of tariffs imposed by governments&#59; the impact of amendments to accounting policies&#59; effectiveness of internal controls and procedures&#59; the validity of the APA&#59; statements with respect to the recovery of value added tax receivables and the tax regime in Mexico&#59; the conduct or outcome of outstanding litigation, arbitration,, regulatory proceedings, negotiations or proceedings under NAFTA or other claims and the compliance by counterparties with judgments or decisions&#59; the continued development and future operations of the Company&#8217;s minting facility&#59; the Share Repurchase Program (as defined herein)&#59; future regulatory trends, future market conditions, future staffing levels and needs and assessment of future opportunities of the Company&#59; the Company&#8217;s plans with respect to enforcement of certain judgments in favour of the Company and the likelihood of collection under those judgments&#59; the Company&#8217;s ability to comply with future legislation or regulations including amendments to Mexican mining legislation and the Company&#8217;s intent to comply with future regulatory and compliance matters&#59; expectations regarding the effects of public health crises on the Company's operations, the global economy and the market for the Company's products&#59; and other statements identified as such in the documents incorporated by reference herein. All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as &#8220;seek&#8221;, &#8220;anticipate&#8221;, &#8220;plan&#8221;, &#8220;continue&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;, &#8220;may&#8221;, &#8220;will&#8221;, &#8220;project&#8221;, &#8220;predict&#8221;, &#8220;forecast&#8221;, &#8220;potential&#8221;, &#8220;targeting&#8221;, &#8220;intend&#8221;, &#8220;could&#8221;, &#8220;might&#8221;, &#8220;should&#8221;, &#8220;believe&#8221; and similar expressions) are not statements of historical fact and may be &#8220;forward-looking statements&#8221;.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments at the dates the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include, without limitation&#58; global economic conditions including public health threats, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating commodity prices, fluctuating currency exchange rates, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, the availability of and costs of financing needed in the future, uninsured risks, defects in title, availability and costs of materials and equipment, climate change events including, but not limited to, drought conditions, changes in national or local governments, changes in applicable legislation or application thereof, timeliness of government approvals, actual performance of facilities, equipment, and processes relative to specifications </font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and expectations and unanticipated environmental impacts on operations, availability of time on court calendars in Canada and elsewhere, the recognition of Canadian judgments under Mexican law, the possibility of settlement discussions, the risk of appeal of judgment, and the insufficiency of the defendant's assets to satisfy the judgment amount and other factors described in the Company&#8217;s most recently filed AIF under the heading &#8220;Risk Factors&#8221;.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes that the expectations reflected in any such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein this MD&#38;A should not be unduly relied upon. These statements speak only as of the date of this MD&#38;A. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. Actual results may differ materially from those expressed or implied by such forward-looking statements.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Technical Information</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Scientific and technical information contained in this MD&#38;A has been reviewed and approved by Gonzalo Mercado, P. Geo., the Company&#8217;s Vice President of Exploration &#38; Technical Services and a &#8220;Qualified Person&#8221; as defined under NI 43-101.  For more detailed information regarding the Company&#8217;s material mineral properties, please refer to the Company&#8217;s most recently filed AIF which is available under our SEDAR+ profile at</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.sedarplus.ca</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and on EDGAR as an exhibit to our most recently filed Form 40-F.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cautionary Note to United States Investors Concerning Estimates of Mineral Reserves and Resources</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Management&#8217;s Discussion and Analysis has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ materially from the requirements of United States securities laws applicable to U.S. companies. Information concerning our mineral properties has been prepared in accordance with the requirements of Canadian securities laws, which differ in material respects from SEC requirements applicable to domestic United States issuers. Accordingly, the disclosure in this Management&#8217;s Discussion and Analysis regarding our mineral properties is not comparable to the disclosure of United States issuers subject to the SEC&#8217;s mining disclosure requirements.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Additional Information</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional information on the Company, including the Company&#8217;s most recently filed AIF and the Company&#8217;s audited consolidated financial statements for the year ended December&#160;31, 2024, is available under the Company&#8217;s profile on SEDAR+ at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.sedarplus.ca</font><font style="color:#00497f;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and on the Company&#8217;s website at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.895%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">First Majestic Silver Corp. 2025 Third Quarter Report</font></td><td colspan="3" style="border-top:2pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Page </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65</font></div></td></tr></table></div><div><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">                                                                                   &#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;  &#160;&#160;&#160;&#160;                                           </font></div></div></div></body></html>
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<DOCUMENT>
<TYPE>EX-99.3
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<title>Document</title></head><body><div id="i486088f5f9754a7abc13fa82a6526eca_1"></div><div style="min-height:54pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit  99.3</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Form 52-109F2</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Certification of Interim Filings</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Full Certificate</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">I, Keith Neumeyer, President &#38; Chief Executive Officer of First Majestic Silver Corp., certify the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Review&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> I have reviewed the interim financial report and interim MD&#38;A (together, the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">interim filings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) of First Majestic Silver Corp. (the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">issuer</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) for the interim period ended September&#160;30, 2025</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">No misrepresentations&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, for the period covered by the interim filings.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Fair presentation&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Responsibility&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&#38;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Certification of Disclosure in Issuers&#8217; Annual and Interim filings,</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the issuer.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the of the period covered by the interim filings&#58;</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:25.15pt">designed DC&#38;P, or caused it to be designed under our supervision, to provide reasonable assurance that</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-44.35pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-46.64pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:24.69pt">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#8217;s GAAP.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:23.36pt">Control framework&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s ICFR is the 2013 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Internal Control &#8211; Integrated Framework</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:23.36pt">N&#47;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3&#160;&#160;&#160;&#160;N&#47;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Reporting changes in ICFR&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer has disclosed in its interim MD&#38;A any change in the issuer&#8217;s ICFR that occurred during the period beginning on July 1, 2025 and ended on September&#160;30, 2025 that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s ICFR.</font></div><div style="text-align:center"><font><br></font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:54pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:4.317%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.085%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:62.298%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; </font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 5, 2025</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; Keith Neumeyer</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Keith Neumeyer</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">President &#38; Chief Executive Officer</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
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<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>ag-2025q3cfoxex994.htm
<DESCRIPTION>EX-99.4
<TEXT>
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<title>Document</title></head><body><div id="iafa3a797704d4c29b3429c1f19cd4e37_1"></div><div style="min-height:54pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit  99.4</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Form 52-109F2</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Certification of Interim Filings</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Full Certificate</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">I, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">David Soares, Chief Financial Officer of First Majestic Silver Corp.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, certify the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Review&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> I have reviewed the interim financial report and interim MD&#38;A (together, the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">interim filings</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) of First Majestic Silver Corp. (the &#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">issuer</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) for the interim period ended September&#160;30, 2025</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">No misrepresentations&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, for the period covered by the interim filings.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Fair presentation&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Responsibility&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&#38;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Certification of Disclosure in Issuers&#8217; Annual and Interim filings,</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the issuer.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Design&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the of the period covered by the interim filings&#58;</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:25.15pt">designed DC&#38;P, or caused it to be designed under our supervision, to provide reasonable assurance that</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-44.35pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-46.64pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:36pt">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:24.69pt">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#8217;s GAAP.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:23.36pt">Control framework&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s ICFR is the 2013 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Internal Control &#8211; Integrated Framework</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:23.36pt">N&#47;A.</font></div><div style="text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3&#160;&#160;&#160;&#160;N&#47;A.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:28.42pt">Reporting changes in ICFR&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The issuer has disclosed in its interim MD&#38;A any change in the issuer&#8217;s ICFR that occurred during the period beginning on July 1, 2025 and ended on September&#160;30, 2025 that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s ICFR.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:54pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:4.317%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.085%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:62.298%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; </font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 5, 2025</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">David Soares</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">David Soares</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Financial Officer</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div></body></html>
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<title>Document</title></head><body><div id="i67e3c3515a6f4648abb43fb783181600_1"></div><div style="min-height:42.75pt;width:100%"><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:18pt;text-align:center"><img alt="fmlogoa41.jpg" src="fmlogoa41.jpg" style="height:194px;margin-bottom:5pt;vertical-align:text-bottom;width:285px"></div><div style="margin-bottom:6pt;margin-top:20pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:18pt;font-weight:700;line-height:115%">NEWS RELEASE</font></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">New York - AG</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">November 5, 2025</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Toronto - AG</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Frankfurt - FMV</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr></table></div><div style="margin-bottom:18pt;margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:150%;text-decoration:underline">First Majestic Announces Financial Results for Q3 2025 and <br>Quarterly Dividend Payment</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Vancouver, BC, Canada - First Majestic Silver Corp. (NYSE&#58;AG) (TSX&#58;AG) (FSE&#58;FMV) (the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:112%">&#34;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Company</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:112%">&#34;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> or &#8220;First Majestic&#8221;) is pleased to announce the Company&#8217;s unaudited condensed interim consolidated financial results for the third quarter ended September&#160;30, 2025. The full version of the financial statements and the accompanying management&#8217;s discussion and analysis can be viewed on the Company&#8217;s website at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> or on SEDAR+ at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">www.sedarplus.ca</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> and on EDGAR at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">www.sec.gov&#47;edgar</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">. All amounts are in U.S. dollars unless stated otherwise.</font></div><div id="i67e3c3515a6f4648abb43fb783181600_7"></div><div style="margin-bottom:12pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">THIRD QUARTER HIGHLIGHTS</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Record Quarterly Silver Production (+</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">96% Y&#47;Y)</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">&#58; </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company produced </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">3.9</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> million silver ounces in Q3 2025 representing a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">96%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> increase when compared to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">2.0</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> million silver ounces produced in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Q3 2024</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">. Total silver production in the quarter included </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">1.4</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> million ounces of attributable silver production from Los Gatos.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Record Quarterly Revenue (+95% Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">For a third consecutive quarter, the Company achieved record quarterly revenue of $285.1 million (with 56% from silver sales), representing a 95% increase compared to $146.1 million in the third quarter of 2024. This was primarily attributed to a 45% increase in AgEq payable ounces sold and a 31% increase in the average realized silver price, which reached $39.03 per AgEq ounce during the quarter. Total revenue for the quarter excluded 758,333 oz of silver and 3,994 oz of gold that were held in inventory at quarter end, with a fair value of $50.3 million.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Increased Mine Operating Earnings (+$70.6 million Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company generated quarterly mine operating earnings of $99.1 million, representing a record and a significant increase compared to $28.5 million in Q3 2024, primarily driven by the addition of Los Gatos along with the continued operational improvements at San Dimas. Excluding non-cash depletion expense, the Company generated mine operating earnings of $136.7 million.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Improved Cash Flow from Operations (+$101.6 million Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Operating cash flow before changes in working capital and taxes in the quarter was a record $141.3 million or </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">$0.29</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> per share, representing a significant increase compared to $39.8 million or $0.13 per share in the third quarter of 2024.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Record Cash Position</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#58; During the quarter, the Company increased its treasury position to a record total of $568.8 million, consisting of $435.4 million in cash and cash equivalents and $133.4 million in restricted </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:1.15pt">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">cash. Liquidity also reached a record $682.0 million, consisting of $542.4 million of working capital and $139.6 million of undrawn revolving credit facility, excluding $133.4 million held in restricted cash.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Record Earnings Before Income Tax, Depreciation and Amortization (&#8220;EBITDA&#8221;) (+$91.7 million Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">EBITDA for the quarter was a record $128.6 million, representing a significant increase compared to $36.9 million in the third quarter of 2024.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Net Earnings (+$69.6 million Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Net earnings for the quarter were $43.0 million (EPS of $0.06) compared to a net loss of $26.6 million (EPS of ($0.09)) in the third quarter of 2024. Net earnings did not include $56.6 million in unrealized gains from the Company's portfolio of marketable securities, which are included within other comprehensive income.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Record Free Cash Flow (+$67.5 million Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company generated a quarterly record of $98.8 million in free cash flow in the third quarter compared to $31.3 million in free cash flow in the third quarter of 2024. Part of the free cash flow is being reinvested in growth capital activities focused on exploration and development to improve resource confidence, extend mine life, and boost throughput and production.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Lower Cash Costs (-2% Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Consolidated cash costs decreased to $14.83 per AgEq ounce for the quarter compared with $15.17 per AgEq ounce in the third quarter of 2024. Applying the 2025 guidance assumptions for metal prices and the USD&#47;MXN exchange rate, Q3 2025 cash costs would have been $13.70 per ounce.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Improved All-In Sustaining Cost (&#34;AISC&#34;) (-1% Y&#47;Y)&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Consolidated AISC in the quarter was $20.90 per AgEq ounce, representing a 1% decrease from $21.03 per AgEq ounce in the third quarter of 2024. Applying the 2025 guidance assumptions for metal prices and the USD&#47;MXN exchange rate, Q3 2025 AISC would have been $19.41 per ounce.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Record Quarter at First Mint (+$8.4 million Y&#47;Y)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#58; First Mint, LLC, the Company&#8217;s 100%-owned minting facility, generated record quarterly sales of $11.1 million compared to $2.7 million in the third quarter of 2024, including record monthly sales in September 2025.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Sustainability Practices Recognized</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#58; As of September 2025, the Company achieved a 30.0 ESG risk rating with Sustainalytics, a leading sustainability research and ratings firm. This score places First Majestic in the Medium risk category, and in the top 40% peer group, for the first time in the history of Sustainalytics&#8217; coverage of the Company, reflecting strong environmental and social risk management practices.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%;padding-left:12.53pt">Third Quarter Dividend&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company declared a cash dividend of $0.0052 per common share for the third quarter of 2025 for shareholders of record as of the close of business on November 14, 2025, to be paid out on or about November 28, 2025. </font></div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">OPERATIONAL AND FINANCIAL HIGHLIGHTS</font></div><div style="margin-bottom:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.245%"><tr><td style="width:1.0%"></td><td style="width:52.769%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.683%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Key Performance Metrics</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change<br>Q3 vs Q2</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operational</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">997,002&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,003,804&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">678,397&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,863,673&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,701,995&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,967,574&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">96</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gold Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,681&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,865&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41,761&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(15</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Silver Equivalent Ounces Produced</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,651,058&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,852,311&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,490,416&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash Costs per Silver Equivalent Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$14.83&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.08&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$15.17&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">All-in Sustaining Cost per Silver Equivalent Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$20.90&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.02&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$21.03&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Production Cost per Tonne</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$102.53&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$104.45&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$109.81&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Average Realized Silver Price per Silver Equivalent Ounce</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$39.03&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$34.62&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$29.84&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial (in $millions)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$285.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$264.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$146.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mine Operating Earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$99.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$49.4&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">101</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$28.5&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Earnings (Loss)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$43.0&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$56.6&#160;</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(24</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #b3b3b3;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($26.6)</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #b3b3b3;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:1.15pt">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.245%"><tr><td style="width:1.0%"></td><td style="width:52.769%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.679%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.683%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Key Performance Metrics</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q3</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025-Q2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change<br>Q3 vs Q2</font></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2024-Q3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change <br>Q3 vs Q3</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating Cash Flows before Non-Cash Working Capital and Taxes</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$141.3&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$114.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$39.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Capital Expenditures</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$52.1&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$56.0&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$34.7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">50</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and Cash Equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$435.4&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$384.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$154.7&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">181</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Restricted Cash</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$133.4&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$125.3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">6</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$103.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Working Capital</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$542.4&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$444.1&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">22</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$238.2&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">128</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">EBITDA</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$128.6&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$119.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$36.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$138.6&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$125.3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$39.8&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Free Cash Flow</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$98.8&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$77.9&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$31.3&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Shareholders</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#cfdbff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Earnings (Loss) per Share (&#34;EPS&#34;) &#8211; Basic</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.06&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.11&#160;</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(45</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.09)</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(167</font></td><td style="border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjusted EPS</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.07&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.04&#160;</font></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($0.03)</font></td><td style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #dbdbdb;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">NM</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:3pt;margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">NM - Not meaningful</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%;padding-left:11.94pt">Operational metrics calculated in the table above are reported on an attributable basis to account for the 70% ownership of the Los Gatos Silver Mine.</font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%;padding-left:11.94pt">The Company reports certain non-GAAP measures which include cash costs per AgEq ounce produced, cash costs per Au ounce produced, AISC per AgEq ounce produced, all-in sustaining cost per Au ounce produced, total production cost per tonne, average realized silver price per AgEq ounce sold, average realized Au price per ounce sold, working capital, adjusted EPS, EBITDA, adjusted EBITDA, and free cash flow. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate such measures may differ from methods used by other companies with similar descriptions. See &#8220;Non-GAAP Measures&#8221; at the end of this news release for further details of these measures. </font></div><div id="i67e3c3515a6f4648abb43fb783181600_10"></div><div style="margin-bottom:12pt;margin-top:18pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">THIRD QUARTER FINANCIAL RESULTS</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">For the third consecutive quarter, the Company generated record quarterly revenue of $285.1 million in the third quarter of 2025, with 56% derived from silver sales, representing a 95% increase compared to $146.1 million of revenue generated in the same period in the prior year. The significant revenue growth was primarily attributable to a 45% increase in payable AgEq ounces sold, mainly driven by&#58; the addition of the Los Gatos Silver Mine to the Company's portfolio of operating mines, which contributed $108.7 million in revenue&#59; a notable 27% production increase at San Dimas, which contributed $71.4 million in revenue (2024 - $49.7 million)&#59; and continued strong performance at Santa Elena, which contributed $84.7 million in revenue (2024 - $77.6 million). Revenue growth was further supported by a higher average realized silver price of $39.03 per AgEq ounce, representing a 31% increase compared to the third quarter of 2024.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">The Company achieved mine operating earnings of $99.1 million, representing a significant increase of $70.6 million compared to mine operating earnings of $28.5 million in the third quarter of 2024. The increase was driven by the addition of the Los Gatos mine, which contributed $48.4 million in mine operating earnings in the third quarter. Additionally, continued operational improvement at San Dimas resulted in a higher contribution to mine operating earnings of $14.9 million compared to a loss of $1.9 million in the third quarter of 2024. The increase in mine operating earnings was partially offset by the strengthening of the Mexican peso against the US dollar, higher maintenance costs across all operational mine sites, and increased energy costs due to higher consumption. Mine operating earnings were further impacted by a higher non-cash depletion expense, primarily driven by the addition of Los Gatos and increased overall production. Excluding non-cash depletion expense, the Company generated mine operating earnings of $136.7 million.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">Operating cash flow before changes in working capital and taxes paid in the quarter was $141.3 million or $0.29 per share, representing a significant increase compared to $39.8 million or $0.13 per share in the third quarter of 2024. This improvement was primarily driven by mine operating earnings of $136.7 million, excluding depletion, depreciation and amortization, as a result of strong performances at San Dimas and Los Gatos. </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">The Company ended the third quarter with a record-high cash treasury balance of $568.8 million, representing an 85% increase compared to a total treasury balance of $308.3 million at December 31, 2024 (consisting of $435.4 million in cash and cash equivalents and $133.4 million in restricted cash). </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:1.15pt">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Liquidity also reached a record $682.0 million, consisting of a record $542.4 million of working capital, representing a 142% increase compared to $224.5 million at December 31, 2024, and $139.6 million of undrawn revolving credit facility, excluding the $133.4 million held in restricted cash.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">EBITDA for the quarter was a record $128.6 million, representing a significant increase compared to $36.9 million in the third quarter of 2024. The increase in EBITDA was primarily attributable to the increase in mine operating earnings.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">Adjusted EBITDA normalized for non-cash or non-recurring items such as share-based payments, abnormal costs, and unrealized gains on marketable securities for the quarter was $138.6 million, representing a significant increase compared to $39.8 million in the third quarter of 2024.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">Net earnings for the quarter were $43.0 million (EPS of $0.06) compared to a net loss of $26.6 million (EPS of ($0.09)) in the third quarter of 2024. The increase in net earnings was primarily driven by higher mine operating earnings, and a non-cash deferred income tax recovery of $4.6 million (EPS of $0.01) compared to a non-cash deferred income tax expense of $13.2 million (EPS of ($0.04)) in the third quarter of 2024. This was partially offset by a non-cash depletion and depreciation expense of $54.9 million (EPS of ($0.11)) compared to $31.9 million (EPS of ($0.11)) in the third quarter of 2024, as a result of higher production along with the addition of Los Gatos. Net earnings did not include $56.6 million in unrealized gains from the Company's portfolio of marketable securities, which are included within other comprehensive income on the balance sheet.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">Adjusted net earnings, excluding non-cash or non-recurring items such as deferred income tax, share-based payments, abnormal costs, and unrealized gains&#47;losses on marketable securities for the quarter ended September 30, 2025 were $32.4 million (adjusted EPS of $0.07), representing a significant increase compared to the adjusted net loss of $10.5 million (adjusted EPS of ($0.03)) in the third quarter of 2024.</font></div><div id="i67e3c3515a6f4648abb43fb783181600_13"></div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">THIRD QUARTER OPERATIONAL RESULTS</font></div><div style="margin-bottom:9pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The table below represents the quarterly operating and cost performance results at each of the Company's four producing mines during the quarter.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%"> </font></div><div style="margin-bottom:3pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.958%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.037%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Third Quarter Production Summary</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Los Gatos</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:700;line-height:115%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Santa Elena</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">San Dimas</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">La Encantada</font></td><td colspan="3" style="background-color:#cfdbff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">Consolidated</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Ore Processed &#47; Tonnes Milled</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">213,262</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">277,858</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">234,156</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">271,726</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">997,002</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Silver Ounces Produced</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">1,408,467</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">412,669</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">1,467,344</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">575,193</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">3,863,673</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Gold Ounces Produced</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">727</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">20,979</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">13,945</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">30</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">35,681</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Silver Equivalent Ounces Produced</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:115%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">2,125,666</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:5.85pt;font-weight:400;line-height:115%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">2,256,695</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">2,690,893</font></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">577,803</font></td><td colspan="3" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">7,651,058</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Cash Costs per Silver Equivalent Ounce</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$12.51&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$15.00&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$14.29&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$24.06&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">$14.83</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">AISC per Silver Equivalent Ounce</font></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$15.36&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$18.32&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$19.36&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$29.72&#160;</font></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">$20.90</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">&#160;</font></td><td style="background-color:#cfdbff;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Total Production Cost per Tonne</font></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$96.29&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$114.79&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$154.35&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">$50.26&#160;</font></td><td style="border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:115%">$102.53</font><font style="color:#001da9;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:115%">&#160;</font></td><td style="background-color:#cfdbff;border-bottom:1pt solid #acacac;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">1.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%;padding-left:11.94pt">All production and non-GAAP results shown in the table above are reported on an attributable basis to account for the Company&#8217;s 70% ownership of the Los Gatos Silver Mine through its joint venture ownership of the mine.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#222222;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">2.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%;padding-left:11.94pt">The metal prices that were used to calculate the silver equivalent ounces were silver&#58; $39.57&#47;oz, gold&#58; $3,453&#47;oz, lead&#58; $0.89&#47;lb.&#59; zinc&#58; $1.28&#47;lb, and copper&#58; $4.44&#47;lb.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">3.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%;padding-left:11.94pt">Attributable silver equivalent ounces for Los Gatos includes 13,894,548 lbs. zinc and 7,653,733 lbs. lead (70%).</font></div><div style="margin-bottom:6pt;margin-top:15pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">The Company produced a quarterly record </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">3.9</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> million silver ounces in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">the third quarter </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">representing a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">96%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> increase when compared to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">2.0</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> million silver ounces produced in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">the third quarter of 2024</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">. Total silver production in the quarter included </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">1.4</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> million ounces of attributable silver production from Los Gatos.</font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">The Company produced 7.7 million AgEq ounces in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">the third quarter</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> (8.1 million using 2025 guidance metal prices), representing a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">39% increase</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> compared to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">5.5</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> million AgEq ounces produced in </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">the third quarter of 2024.</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> This growth was primarily driven by a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">96%</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> increase in attributable consolidated silver production, including contributions from Los Gatos, as well as a </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">27% </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">production increase at San Dimas. </font></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">Cash costs per attributable payable AgEq ounce for the quarter were $14.83, representing a 2% improvement when compared with $15.17 per ounce in the third quarter of 2024. This decrease in cash costs was primarily attributed to a 39% increase in AgEq ounces, driven by the attributable production </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:1.15pt">4</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">increase of 2.1 million AgEq ounces from Los Gatos, along with a 27% increase in AgEq production at San Dimas as a result of operational efficiencies and increased plant throughput rates. The decrease in cash costs was partially offset by the strengthening of the Mexican peso against the US dollar, increased maintenance and energy costs across all operational mine sites, and higher royalties and profit sharing due to increased production and metal prices. Despite the significant increase in production compared to the third quarter of 2024, AgEq ounces were impacted by a rising commodity price environment that compressed the gold-to-silver ratio, which reduced reported AgEq ounces by approximately 400,000 ounces and negatively impacted the costs per ounce. </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:12.53pt">AISC per attributable payable AgEq ounce in the third quarter was $20.90, a slight improvement compared to $21.03 per ounce in the third quarter of 2024. This decrease was primarily attributable to the improved cash costs along with reduced sustaining development costs as the Company continues to focus on growth and expansion. Additionally, corporate general and administrative (&#8220;G&#38;A&#8221;) expenses per AgEq ounce decreased compared to the third quarter of 2024, as part of restructuring efforts to optimize the workforce and reduce labour costs which occurred in the same period last year.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">UPDATE ON DOMESTIC PROCEEDINGS IN MEXICO</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Subsequent to the end of Q3 2025, the Company was informed by its legal advisors in Mexico that on October 30, 2025, the Mexican Supreme Court granted the appeal that was filed earlier this year by the Mexican Ministry of Finance and Public Credit in respect of the Supreme Court&#8217;s previous admission of the appeal filed by Primero Empresa Minera, S.A. de C.V. (&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%">PEM</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8221;), the Company&#8217;s wholly-owned subsidiary that owns the San Dimas Silver&#47;Gold Mine, regarding a tax reassessment that had been issued against PEM by the Servicio de Administracion Tributaria (&#8220;SAT&#8221;), Mexico&#8217;s taxation authority, in 2019 in respect of the 2012 tax year.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">As a result, the Supreme Court will not hear PEM&#8217;s appeal of the Collegiate Court&#8217;s decision which had upheld the 2012 tax reassessment. The Company is waiting to be served with official notice of the Supreme Court&#8217;s decision to review the reasons provided by the Supreme Court in making its decision, and will consider what further actions, if any, it may take under Mexican domestic law and international law after reviewing the decision.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company&#8217;s NAFTA arbitration proceedings in respect of the SAT&#8217;s nullification action concerning the Advance Pricing Agreement (the &#8220;APA&#8221;) that the SAT previously issued in favour of PEM in October 2012, are still ongoing, and the Company remains confident in its position under such arbitration proceedings.  In addition, the Company&#8217;s domestic legal challenge with respect to the SAT&#8217;s nullification action is still ongoing, with the Company waiting for the Collegiate Court to issue its decision on the matter.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%">  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">See the &#8220;Subsequent Events&#8221; sections in the Company&#8217;s Q3 2025 interim financial statements and the corresponding MD&#38;A for further details.</font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div id="i67e3c3515a6f4648abb43fb783181600_16"></div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">Q3 2025 DIVIDEND ANNOUNCEMENT</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company is pleased to announce that its Board of Directors has declared a cash dividend in the amount of $0.0052 per common share for the third quarter of 2025. The dividend will be paid to holders of record of First Majestic&#8217;s common shares as of the close of business on November 14, 2025, and will be paid out on or about November 28, 2025.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Under the Company&#8217;s dividend policy, the quarterly dividend per common share is targeted to equal approximately 1% of the Company&#8217;s net quarterly revenues divided by the Company&#8217;s then outstanding common shares. </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:112%;text-decoration:underline">Note&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:112%"> In the case of net revenues generated from the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), 70% of the net revenue from such mine, being the revenue that is attributable to the Company,  is used for the purposes of the Company&#8217;s quarterly dividend calculation</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The amount and distribution dates of future dividends remain at the discretion of the Board of Directors. This dividend qualifies as an &#8220;eligible dividend&#8221; for Canadian income tax purposes. Dividends paid to shareholders outside Canada (non-resident investors) may be subject to Canadian non-resident withholding taxes.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:1.15pt">5</font></div></div></div><div id="i67e3c3515a6f4648abb43fb783181600_19"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:112%">CONFERENCE CALL DETAILS</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:700;line-height:112%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company will host a conference call and webcast on </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">Wednesday, November 5, 2025, at 8&#58;30 a.m. (PT) &#47; 11&#58;30 a.m. (ET)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> to provide investors and analysts with a business update, and to discuss its third quarter production and earnings results.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">To participate in the conference call, please use the following dial-in numbers&#58;</font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:71.637%"><tr><td style="width:1.0%"></td><td style="width:47.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.125%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Canada &#38; USA Toll-Free&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">+1-833-752-3407</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Outside of Canada &#38; USA&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">+1-647-846-2866</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Toll-Free Germany&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">+49-69-1741-5718</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Toll-Free UK&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">+44-20-3795-9972</font></td></tr></table></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Participants should dial-in at least 15 minutes prior to the start of the call to ensure placement in the conference on time.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The live webcast link of the call will be accessible directly at this link, </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">Q3 2025 Results Conference Call</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">, as well as on the First Majestic home page at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">through the</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8220;November 5, 2025 Webcast Link&#8221;.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">A webcast archive will be available approximately one hour after the end of the event and will be accessible for three months through the same link as the live event.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">A recording of the conference call will be available for telephone replay approximately one hour after the end of the event by calling&#58;</font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:71.637%"><tr><td style="width:1.0%"></td><td style="width:47.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.125%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">USA &#38; Canada Toll-Free&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">+1-855-669-9658</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Outside of Canada &#38; US&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">+1-412-317-0088</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;text-indent:18pt;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Access Code&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">7378469</font></td></tr></table></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The telephone replay will be available for seven days following the end of the event.</font></div><div id="i67e3c3515a6f4648abb43fb783181600_22"></div><div style="margin-bottom:6pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">ABOUT FIRST MAJESTIC</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">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&#58; 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&#47;Gold Mine, the San Dimas Silver&#47;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.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">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 </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">www.firstmint.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">, at some of the lowest premiums available.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">For further information, contact </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">info&#64;firstmajestic.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">,</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">visit our website at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">www.firstmajestic.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%"> or call our toll free number 1.866.529.2807.</font></div><div id="i67e3c3515a6f4648abb43fb783181600_25"></div><div style="margin-bottom:12pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:112%">FIRST MAJESTIC SILVER CORP.</font></div><div style="margin-bottom:12pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:112%">&#8220;signed&#8221;</font></div><div style="margin-bottom:12pt;margin-top:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Keith Neumeyer, President &#38; CEO </font></div><div style="margin-bottom:12pt;margin-top:18pt;text-align:justify"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:1.15pt">6</font></div></div></div><div id="i67e3c3515a6f4648abb43fb783181600_28"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Non-GAAP Financial Measures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">This news release includes reference to certain financial measures which are not standardized measures under the Company's financial reporting framework. These measures include cash costs per silver equivalent ounce produced, all-in sustaining cost (or &#8220;AISC&#8221;) per silver equivalent ounce produced, cash costs per gold ounce produced, AISC per gold ounce produced, total production cost per tonne, average realized silver price per ounce sold, average realized gold price per ounce sold, working capital, adjusted net earnings and EPS, EBITDA, adjusted EBITDA, and free cash flow. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. These measures are widely used in the mining industry as a benchmark for performance but do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures disclosed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For a complete description of how the Company calculates such measures and a reconciliation of certain measures to GAAP terms please see &#8220;Non-GAAP Measures&#8221; in the Company's most recent management discussion and analysis filed on SEDAR+ at </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">www.sedarplus.ca</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> and EDGAR at</font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </font><font style="color:#0000ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">www.sec.gov</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;text-decoration:underline">.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Cautionary Note Regarding Forward Looking Statements</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">This news release contains &#34;forward-looking information&#34; and &#34;forward-looking statements&#34; under applicable Canadian and U.S. securities laws (collectively, &#34;forward-looking statements&#34;). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements in this news release include, but are not limited to, statements with respect to&#58; the timing for the Company&#8217;s dividend payment for the third quarter of 2025 and the shareholder record and payable dates in connection with such dividend payment&#59; anticipated future results of the Company&#59; details regarding the Company's investor conference to discuss its Q3 2025 production and financial results&#59; timing for the Company to receive official notice of the Mexican Supreme Court's decision in connection with PEM's 2012 tax reassessment and the timing of any further actions the Company may take after reviewing such decision, and timing for the Collegiate Court to issue its decision regarding the Company's challenge to the SAT's nullification action in respect of the APA. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward- looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as &#34;seek&#34;, &#34;anticipate&#34;, &#34;plan&#34;, &#34;continue&#34;, &#34;estimate&#34;, &#34;expect&#34;, &#34;may&#34;, &#34;will&#34;, &#34;project&#34;, &#34;predict&#34;, &#34;forecast&#34;, &#34;potential&#34;, &#34;target&#34;, &#34;intend&#34;, &#34;could&#34;, &#34;might&#34;, &#34;should&#34;, &#34;believe&#34; and similar expressions) are not statements of historical fact and may be &#34;forward-looking statements&#34;.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to&#58; the duration and effects of the coronavirus and COVID-19, and any other pandemics on our operations and workforce, and the effects on global economies and society&#59; general economic conditions including inflation risks&#59; actual results of exploration activities&#59; conclusions of economic evaluations&#59; changes in project parameters as plans continue to be refined&#59; commodity prices&#59; variations in ore reserves, grade or recovery rates&#59; actual performance of plant, equipment or processes relative to specifications and expectations&#59; accidents&#59; labour relations&#59; relations with local communities&#59; changes in national or local governments&#59; changes in applicable legislation or application thereof&#59; delays in obtaining approvals or financing or in the completion of development or construction activities&#59; exchange rate fluctuations&#59; requirements for additional capital&#59; government regulation&#59; environmental risks&#59; reclamation expenses&#59; outcomes of pending litigation&#59; limitations on insurance coverage as well as those factors discussed in the section entitled &#8220;Description of the Business - Risk Factors&#8221; in the Company's most recent Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company&#8217;s SEDAR+ profile at www.sedarplus.ca, and in the Company&#8217;s Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov&#47;edgar. Although First Majestic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.</font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:1.15pt">7</font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
