First Majestic Silver Corp 2025年度报告

FORM 40-F ☐REGISTRATION STATEMENT PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the fiscal year endedDecember 31, 2025 Commission File Number001-34984 (Exact name of registrant as specified in its charter) (Name, address (including zip code) and telephone number (including area code) of agent for service in the United States) For annual reports, indicate by check mark the information filed with this Form. ☒Annual information form Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the periodcovered by the annual report.491,322,304 Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Actduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subjectto such filing requirements for the past 90 days. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrantwas required to submit such files). Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.Emerging growth company☐ If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if theregistrant has elected not to use the extended transition period for complying with any new or revised financial accounting standardsprovided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ NOTE TO UNITED STATES READERS - DIFFERENCESIN UNITED STATES AND CANADIAN REPORTING PRACTICES First Majestic Silver Corp. (the "Company" or the "Registrant") is permitted, under a multi-jurisdictional disclosure system adoptedby the United States, to prepare this annual report on Form 40-F in accordance with Canadian disclosure requirements, which aredifferent from those of the United States.The Company prepares its audited consolidated financial statements (the "AuditedConsolidated Financial Statements") in accordance with IFRS Accounting Standards ("IFRS Accounting Standards") as issued bythe International Accounting Standards Board ("IASB"). The Annual Information Form ("AIF") filed as Exhibit 99.1 to this annual report on Form 40-F has been prepared in accordance withthe requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws.Theterms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordancewith Canadian National Instrument 43-101Standards of Disclosure for Mineral Projects("NI 43-101") and the Canadian Institute ofMining, Metallurgy and Petroleum ("CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by theCIM Council, as amended.These definitions differ from the definitions in the United States Securities and Exchange Commission("SEC") rules and regulations applicable to domestic United States companies. Accordingly, information contained in this annual report on Form 40-F and the documents incorporated by reference herein containingdescriptions of the Company's mineral deposits may not be comparable to similar information made public by U.S. companies subjectto the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. ANNUAL INFORMATION FORM The AIF is filed as Exhibit 99.1 to, and incorporated by reference in, this annual report on Form 40-F. AUDITED ANNUAL FINANCIAL STATEMENTS The Audited Consolidated Financial Statements as at and for the years ended December 31, 2025 and 2024, including the report of theindependent registered public accounting firm with respect thereto, are filed as Exhibit 99.2 to, and incorporated by reference in, thisannual report on Form 40-F.Our independent registered public accounting firm is Deloitte