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First Majestic Silver Corp. San Dimas Silver/Gold Mine Durango and Sinaloa States, Mexico NI 43-101 Technical Report on Mineral

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First Majestic Silver Corp. San Dimas Silver/Gold Mine Durango and Sinaloa States, Mexico NI 43-101 Technical Report on Mineral First Majestic Silver Corp. San Dimas Silver/Gold Mine Durango and Sinaloa States, Mexico NI 43-101 Technical Report on Mineral Resource and Mineral Reserve Estimates Qualified Persons: Ramón Mendoza Reyes, P.Eng. Joaquín Merino, P.Geo. María Elena Vázquez, P.Geo. Persio P. Rosario, P.Eng. Report Prepared For: First Majestic Silver Corp. Report Effective Date December 31, 2020 CERTIFICATE OF QUALIFIED PERSON Ramón Mendoza Reyes, P.Eng. Vice President of Technical Services First Majestic Silver Corp. 925 West Georgia Street, Suite 1800 Vancouver, BC, Canada, V6C 3L2 I, Ramón Mendoza Reyes, P.Eng., am employed as Vice President of Technical Services with First Majestic Silver Corp. (First Majestic). This certificate applies to the technical report entitled “San Dimas Silver/Gold Mine, Durango and Sinaloa States, Mexico, NI 43-101 Technical Report on Mineral Resource and Mineral Reserve Estimates” that has an effective date of December 31, 2020. I graduated from the National Autonomous University of Mexico with a Bachelor of Science Degree in Mining Engineering in 1989, and also obtained a Master of Science Degree in Mining and Earth Systems Engineering from the Colorado School of Mines in Golden, Colorado, in 2003. I am a member of the Engineers and Geoscientists British Columbia (P.Eng. #158547). I have practiced my profession continuously since 1990, and have been involved in precious and base metal mine projects and operations in Mexico, Canada, the United States of America, Chile, Peru, and Argentina. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). I visited the San Dimas Silver/Gold Mine on several occasions during 2018 and 2019. My most recent site inspection was on February 13 and 14, 2020. I am responsible for Sections 1.1, 1.8.2, 1.9, 1.11 to 1.14, 1.15.8, 1.15.10, 2, 3, 4, 15, 16, 18 to 24, 25.1, 25.7 to 25.9, 25.11 to 25.16, 26.1.8, 26.2.2 and 27 of the Technical Report. I am not independent of First Majestic as that term is described in Section 1.5 of NI 43–101. I have been involved with the San Dimas Silver/Gold Mine overseeing technical and operational aspects including mine planning, mining operations and mineral reserves estimation, since the acquisition by First Majestic in May 2018. I have read NI 43–101, and the sections of the Technical Report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the technical report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. “signed and sealed” Ramón Mendoza Reyes, P.Eng. Dated: March 10, 2021 a CERTIFICATE OF QUALIFIED PERSON Joaquín J. Merino-M., P. Geo. Senior Geologist Consultant First Majestic Silver Corp. 925 West Georgia Street, Suite 1800 Vancouver, BC, Canada, V6C 3L2 I, Joaquin J. Merino-M., am contracted as Senior Geologist Consultant with First Majestic Silver Corp. (First Majestic). This certificate applies to the technical report entitled “San Dimas Silver/Gold Mine, Durango and Sinaloa States, Mexico, NI 43-101 Technical Report on Mineral Resource and Mineral Reserve Estimates” that has an effective date of December 31, 2020. I graduated from the University of Seville, Spain, with a Bachelor in Geological Sciences degree in 1991, and obtained a Master of Science degree in Economic Geology from Queens University, ON, Canada, in 2000. I am a member of the Association of Professional Geoscientists of Ontario (P.Geo. #1652). I have practiced my profession continuously since 1993. I have held technical positions working with resource estimation, mineral exploration, project evaluation, geological modeling, mine production and reconciliation matters with projects and operations in Canada, Mexico, Peru, Ecuador, Chile, Bolivia, Brazil, Colombia, Venezuela, Argentina, Australia, Papua New Guinea, Spain, Portugal, and Finland. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). I visited the San Dimas Silver/Gold Mine on a monthly regular basis from 2016 to 2019. My most recent rotation and site inspection was from November 21 to December 20, 2019. I am responsible for Sections 1.2 to 1.5, 1.8.1, 1.15.1, 1.15.3, 1.15.4, 5 to 10, 14, 25.2, 25.3, 25.6, 26.1.1, 26.1.3 and 26.1.4 of the Technical Report. I am not independent of First Majestic as that term is described in Section 1.5 of NI 43–101. I have been involved with the San Dimas Silver-Gold Mine overseeing technical and operational aspects including exploration, target generation, mine reconciliation, and mineral resources estimation, since 2016. I have read NI 43–101, and the sections of the Technical Report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the technical report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. “signed and sealed” Joaquin J. Merino-M., P.Geo. Dated: March 10, 2021 b CERTIFICATE OF QUALIFIED PERSON María Elena Vázquez Jaimes, P. Geo. Geological Database Manager, First Majestic Silver Corp. 925 West Georgia Street, Suite 1800 Vancouver, BC, Canada, V6C 3L2 I, María Elena Vázquez Jaimes, P.Geo., am employed as Geological Database Manager with First Majestic Silver Corp. (First Majestic). This certificate applies to the technical report entitled “San Dimas Silver/Gold Mine, Durango and Sinaloa States, Mexico, NI 43-101 Technical Report on Mineral Resource and Mineral Reserve Estimates” that has an effective date of December 31, 2020 (the Technical Report). I graduated from the National Autonomous University of Mexico with a Bachelor in Geological Engineering degree in 1995 and obtained a Master of Science degree in Geology from the “Ensenada Center for Scientific Research and Higher Education”, Ensenada, BC, Mexico, in 2000. I am a member of the Engineers and Geoscientists British Columbia (P.Geo. #35815). I have practiced my profession continuously since 1995. I have held technical positions working with geological databases, conducting quality assurance and quality control programs, managing geological databases, performing data verification activities, and conducting and supervising logging and sampling procedures for mining companies with projects and operations in Canada, Mexico, Peru, Ecuador, Brazil, Colombia and Argentina. I have served as the Geologic Database Manager for First Majestic since 2013, and I direct the QAQC programs, sampling and assay procedures, and database verification for all their mines in Mexico. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). I visited the San Dimas Silver-Gold Mine on several occasions in 2019 and 2020. My most recent site inspection was from February 24 to February 28, 2020. I am responsible for Sections 1.6, 1.15.2, 11, 12, 25.4, and 26.1.2 of the Technical Report. I am not independent of First Majestic as that term is described in Section 1.5 of NI 43–101. I have been directly involved with the San Dimas Silver-Gold Mine in my role as the Geological Database Manager since 2019. I have read NI 43–101, and the sections of the Technical Report for which I am responsible have been prepared in compliance with that Instrument. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed in order to make the Technical Report not misleading. “signed and sealed” Maria Elena Vazquez Jaimes, P.Geo. Dated: March 10, 2021 c CERTIFICATE OF QUALIFIED PERSON Persio Pellegrini Rosario, P.Eng. Vice President of Processing, Metallurgy & Innovation First Majestic Silver Corp. 925 West Georgia Street, Suite 1800 Vancouver, BC, Canada, V6C 3L2 I, Persio Pellegrini Rosario, P.Eng., am employed as Vice President of Processing, Metallurgy & Innovation with First Majestic Silver Corp. (First Majestic). This certificate applies to the technical report “San Dimas Silver/Gold Mine, Durango and Sinaloa States, Mexico, NI 43-101 Technical Report on Mineral Resource and Mineral Reserve Estimates” that has an effective date of December 31, 2020. I am a graduate of the University of British Columbia, where, in 2003 and 2010, respectively, I obtained a Master in Applied Sciences (MASc) and the Doctor in Philosophy (PhD) degrees in Mineral Processing through the Mining and Mineral Processing Department. I am a member of the Engineers and Geoscientists British Columbia (P.Eng. # 32355). I have practiced my profession continuously since 2003 and acquired extensive experience in the design and optimization of mineral processing flowsheets through the elaboration and management of metallurgical test programs and the interpretation of their results. I have been involved in precious and base metal mine projects and operations in Mexico, Canada, the United States of America, Brazil, Chile, Peru, Argentina, and Russia. As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101).
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