SCHEDULE: Electrum Group Discloses 0.2% Stake in First Majestic Silver

Electrum Silver US LLC and affiliated entities reported a 0.2% beneficial ownership stake in First Majestic Silver Corp., totaling 1,180,000 common shares as of September 30, 2025.

Summary

• Electrum Silver US LLC and its affiliated entities, including Electrum Strategic Management LLC, Electrum Global Holdings L.P., TEG Global GP Ltd., and The Electrum Group LLC, collectively reported beneficial ownership of 1,180,000 common shares of First Majestic Silver Corp.
• This ownership represents a 0.2% stake in the company, calculated based on 490,028,835 common shares outstanding as of September 30, 2025.
• The reporting persons hold shared voting and shared dispositive power over these 1,180,000 shares.
• This filing is an Amendment No. 3 to a Schedule 13G, indicating an update to a previously disclosed passive investment position.
• The reporting persons certified that the securities were not acquired or held for the purpose of changing or influencing the control of First Majestic Silver Corp.

Sentiment

Score: 5

Explanation: The filing is a routine regulatory disclosure of a passive, non-controlling ownership stake (0.2%) by an investment group. It does not indicate any significant positive or negative developments for the issuer.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• The impact on shareholders is minimal due to the small, passive nature of the 0.2% stake, which does not suggest any intent to influence company control or operations.

Key Dates

Keywords

First Majestic Silver Corp., Electrum Silver US LLC, Schedule 13G, Beneficial Ownership, Common Shares, Silver Mining, Investment Disclosure, Passive Investment, Equity Stake