UNDERWRITING AGREEMENTUnderwriting Agreement • February 2nd, 2023 • Mag Silver Corp • Gold and silver ores • British Columbia
BMO Nesbitt Burns Inc. and Raymond James Ltd. (together, the “Lead Underwriters”), and Canaccord Genuity Corp., H.C. Wainwright & Co., LLC, National Bank Financial Inc., Roth Canada Inc., TD Securities Inc. and Scotia Capital Inc. (together with the Lead Underwriters, the “Underwriters” and each individually an “Underwriter”) hereby severally, and not jointly nor jointly and severally, offer to purchase from MAG Silver Corp. (the “Corporation”) in the respective percentages set forth in Section 22 hereof, and the Corporation hereby agrees to issue and sell to the Underwriters, upon and subject to the terms hereof, an aggregate of 2,735,000 common shares of the Corporation (the “Firm Shares”) on an underwritten basis at a price of US$14.65 per Firm Share (the “Offering Price”) for an aggregate purchase price of US$40,067,750.00.
