First Majestic reports Q2 2026 production; raises 2026 guidance

Vancouver, British Columbia--(Newsfile Corp. - July 8, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") announces that total production in the second quarter of 2026 from the Company's four producing underground mines in Mexico, namely, the Santa Elena Silver/Gold Mine ("Santa Elena"), the Los Gatos Silver Mine ("Los Gatos") (the Company holds a 70% interest in the Los Gatos Joint Venture that owns the mine), the San Dimas Silver/Gold Mine ("San Dimas"), and the La Encantada Silver Mine ("La Encantada") reached 3.8 million silver ("Ag") ounces, 34,660 gold ("Au") ounces, 16.5 million pounds of zinc ("Zn"), 9.0 million pounds of lead ("Pb") and 252,938 pounds of copper ("Cu"). Q2 2026 PRODUCTION HIGHLIGHTS Silver Production (+3% Y/Y): The Company produced 3.8 million silver ounces in Q2 2026 compared to 3.7 million silver ounces produced in Q2 2025, an increase of 3%. The increase was primarily driven by strong performances at La Encantada and Santa Elena.

Gold Production (+2% Y/Y): The Company produced 34,660 gold ounces in Q2 2026, a 2% increase compared to 33,865 gold ounces produced in Q2 2025. The increase in gold production was primarily driven by strong production at Santa Elena. Developments at Santa Elena: In June, the Company announced infill drilling results at the Santo Niño and Navidad targets that returned multiple silver and gold intercepts, including high-grade results from resource-conversion drilling.

Additionally, the Company secured construction permits for the Santo Niño and Navidad portals and announced an additional $12 million in investments planned in 2026 to advance underground access and position the Santo Niño portal for near-term mining (see news release dated June 25, 2026 ). Sale of the Del Toro Silver Mine: In June, pursuant to the sh