FIRST MAJESTIC SILVER CORP

CUSIP: 32076VAD5 Class: NOTE 0.375% 1/1

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (3)

ZAZOVE ASSOCIATES LLC
Value ($000) $3,210 Shares 2,600,000
Jefferies Financial Group Inc.
Value ($000) $2,720 Shares 2,200,000
Nuveen, LLC
Value ($000) $3,589 Shares 2,900,000

Exited Positions (16)

K2 PRINCIPAL FUND, L.P.
Value ($000) $15,393 Shares 14,500
Tetragon Partners GP Ltd
Value ($000) $7,968 Shares 7,500,000
Context Capital Management, LLC
Value ($000) $29,966 Shares 27,611
WOLVERINE ASSET MANAGEMENT LLC
Value ($000) $38,261 Shares 35,475,000
OAKTREE CAPITAL MANAGEMENT LP
Value ($000) $19,680 Shares 18,133,000
HBK INVESTMENTS L P
Value ($000) $26,947 Shares 24,957,000
TENOR CAPITAL MANAGEMENT Co., L.P.
Value ($000) $10,472 Shares 9,674,000
Periscope Capital Inc.
Value ($000) $991 Shares 915,000
ADVENT CAPITAL MANAGEMENT /DE/
Value ($000) $4,895 Shares 4,510,000
MIZUHO SECURITIES USA LLC
Value ($000) $4,122 Shares 4,000,000
LMR Partners LLP
Value ($000) $20,170 Shares 19,000,000
CITIGROUP INC
Value ($000) $6,386 Shares 5,911,000
Russell Investments Group, Ltd.
Value ($000) $3,286 Shares 3,093,000
JPMORGAN CHASE & CO
Value ($000) $3,965 Shares 3,647,000
BANK OF MONTREAL /CAN/
Value ($000) $1,715 Shares 1,577,000
SG Americas Securities, LLC
Value ($000) $2 Shares 14,900