Original Submission 
Amended Report(optional field)
UNCLASSIFIED - NON CLASSIFIÉ#
| Extractive Sector Transparency Measures Act - Annual Report | |||||||
| Reporting Entity Name | First Majestic Silver Corp. | ||||||
| Reporting Year | From | 2024-01-01 | To: | 2024-12-31 | Date submitted | 2025-08-28 | |
| Reporting Entity ESTMA Identification Number | E313966 | Original Submission |
Report Version | ||||
| Amended Report |
2 | ||||||
| Other Subsidiaries Included (optional field) |
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| Not Consolidated | |||||||
| Not Substituted | |||||||
| Attestation by Reporting Entity | |||||||
| In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above. | |||||||
| Full Name of Director or Officer of Reporting Entity | David Soares | Date | 2025-08-28 | ||||
| Position Title | Chief Financial Officer | ||||||
| Extractive Sector Transparency Measures Act - Annual Report | |||||||||||
| Reporting Year | From: | 2024-01-01 | To: | 2024-12-31 | |||||||
| Reporting Entity Name | First Majestic Silver Corp. | Currency of the Report | CAD | ||||||||
| Reporting Entity ESTMA Identification Number | E313966 | ||||||||||
| Subsidiary Reporting Entities (if necessary) | |||||||||||
| Payments by Payee | |||||||||||
| Country | Payee Name1 | Departments, Agency, etc — within Payee that Received Payments2 |
Taxes | Royalties | Fees | Production Entitlements |
Bonuses | Dividends | Infrastructure Improvement Payments |
Total Amount paid to Payee |
Notes34 |
| Mexico | Government of Mexico | Tax Administration Service | 26,220,000 | 7,370,000 | 100,000 | 29,930,000 | Payments related to income taxes, 0.5% extraordinary mining duty(Royalties), and "MAP" (Fees). | ||||
| Mexico | Government of Mexico | Economy Secretary | 8,220,000 | 8,220,000 | Payments related to mining concessions (Fees). | ||||||
| Switzerland | Canton of Zurich | Cantonal Tax Office Zurich | 920,000 | 920,000 | Payments related to state taxes. | ||||||
| Mexico | Government of Mexico | National Water Commission | 900,000 | 900,000 | Payments related to water rights. | ||||||
| United States of America | Government of the United States of America | Bureau of Land Management | 890,000 | 890,000 | Payments related to land claims. | ||||||
| United States of America | Elko County | Elko County Treasurer | 720,000 | 720,000 | Payments related to property taxes. | ||||||
| Mexico | Government of Mexico | Secretary of Finance and Administration | 520,000 | 520,000 | Payments related to vehicles and property taxes | ||||||
| Mexico | Municipality of Banamichi | 310,000 | 310,000 | Payments related to property taxes. | |||||||
| United States of America | State of Nevada | Nevada Department of Environmental Protection | 220,000 | 220,000 | Payments related to environmental permits. | ||||||
| United States of America | State of Nevada | Nevada Division of Water Resources | 120,000 | 120,000 | Payments for water rights. | ||||||
| Mexico | Municipality of San Dimas | 120,000 | 120,000 | Payments to community for land and infrastructure improvements. | |||||||
| Mexico | Municipality of Ocampo | 110,000 | 110,000 | Payments related to Mine Safety and Health and Internal Revenue Services fees. | |||||||
| Mexico | Government of Mexico | Energy Regulatory Commission | 80,000 | 80,000 | Payments related to city taxes. | ||||||
| United States of America | State of Nevada | Nevada Division of Taxation | 80,000 | 80,000 | Payments related to mining royalties. | ||||||
| United States of America | Elko County | Elko County Recorders Office | 50,000 | 50,000 | Payments related to mineral claims. | ||||||
| United States of America | State of Nevada | Nevada Department of Wildlife | 40,000 | 40,000 | Payments related to permitting fees. | ||||||
| Mexico | Government of Mexico | Secretary of Communications and Transport | 30,000 | 30,000 | Payments related to state taxes. | ||||||
| Mexico | Government of Mexico | Secretary of Public Security | 30,000 | 30,000 | Payments related to safety permits. | ||||||
| Mexico | Government of Mexico | Secretary of Environment and Natural Resources | 20,000 | 20,000 | Payments related to environmental permits. | ||||||
| Mexico | Municipality of Chalchihuites | 20,000 | 20,000 | Payments related to water rights. | |||||||
| United States of America | State of Nevada | Nevada Department of Motor Vehicles | 10,000 | 10,000 | Payments related to vehicle registration fees. | ||||||
| Mexico | Government of Mexico | Treasury of the Federation | 10,000 | 10,000 | Payments related to explosive permissions | ||||||
| Additional Notes: | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | ||||||||||
| Extractive Sector Transparency Measures Act - Annual Report | |||||||||||
| Reporting Year | From: | 2024-01-01 | To: | 2024-12-31 | |||||||
| Reporting Entity Name | First Majestic Silver Corp. | Currency of the Report | CAD | ||||||||
| Reporting Entity ESTMA Identification Number | E313966 | ||||||||||
| Subsidiary Reporting Entities (if necessary) | |||||||||||
| Payments by Project | ||||||||||
| Country | Project Name1 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments |
Total Amount paid by Project |
Notes23 |
| Mexico | Santa Elena Silver and Gold Mine | 14,780,000 | 1,460,000 | 4,160,000 | 20,400,000 | |||||
| Mexico | San Dimas Silver and Gold Mine | 10,670,000 | 1,720,000 | 2,850,000 | 120,000 | 15,360,000 | ||||
| Mexico | La Parrilla Silver Mine | 1,700,000 | 1,700,000 | |||||||
| Mexico | San Martin Silver mine | 460,000 | 460,000 | |||||||
| Mexico | La Encantada Silver Mine | 430,000 | 330,000 | 760,000 | ||||||
| Mexico | La Luz Silver Project | 160,000 | 160,00 | |||||||
| Mexico | Corporate | 770,000 | 140,000 | 910,000 | ||||||
| Mexico | Del Toro Silver Mine | 550,000 | 550,000 | |||||||
| United States of America | Jerritt Canyon Gold Mine | 800,000 | 1,330,000 | 2,130,000 | ||||||
| Switzerland | Corporate | 920,000 | 920,000 | |||||||
| Additional Notes3: | (a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar (b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar (c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits. (d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. (e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". |
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