Common use of Legend on Common Share Certificates Clause in Contracts

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd day of August, 2007, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of September 26, 2013 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of December 2, 2010, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 6, 2007, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 1, 20072004), as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. Open Text Corporation (the "Corporation") and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence evidence, in addition to the Common Shares, one Right for each Common Share represented thereby and shall or shall be deemed to have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formas follows: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth holder's rights described in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustJune 12, 2007, as amended from time to time 2013 (the "Rights Agreement"), ) between MAG Silver Corp. Quaterra Resources Inc. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agentthe same may from time to time be amended, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, as circumstances set forth out in the Rights Agreement, such the Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall also evidence one Right for each Common Share evidenced thereby represented thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close Close of business Business on the earlier of the Separation Time and the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: "Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustApril 12, 2007, as amended from time to time 1999 (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc.Montreal Trust Company of Canada, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." (b) Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustJuly 23, 20072019, as amended from time to time (the "“Rights Agreement"”), between MAG Silver Corp. Nextleaf Solutions Ltd. (the "“Corporation"”) and Computershare Investor Services Inc.Odyssey Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable promptly after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them them, a legend in substantially the following form: Until the Separation Time UNTIL THE SEPARATION TIME (as defined in the Rights Agreement referred to belowAS DEFINED IN THE RIGHTS PLAN REFERRED TO BELOW), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan AgreementTHIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH IN A SHAREHOLDER RIGHTS PLAN AGREEMENT, dated as of the 3rd day of AugustDATED AS OF NOVEMBER 22, 2007, as amended from time to time 2000 (the THE "Rights AgreementRIGHTS PLAN"), between MAG Silver Corp. BETWEEN VASOGEN INC. (the THE "CorporationCORPORATION") and Computershare Investor Services Inc.AND CIBC MELLON TRUST COMPANY, as Rights AgentAS RIGHTS AGENT (THE "RIGHTS AGENT"), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationTHE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH MAY BE INSPECTED DURING NORMAL BUSINESS HOURS AT THE PRINCIPAL EXECUTIVE OFFICE OF THE CORPORATION. Under certain circumstancesUNDER CERTAIN CIRCUMSTANCES, as set forth in the Rights AgreementAS SET FORTH IN THE RIGHTS PLAN, such Rights may be amendedSUCH RIGHTS MAY BE AMENDED OR REDEEMED, redeemedMAY EXPIRE, may expireMAY BECOME NULL AND VOID (IF, may become null and void (ifIN CERTAIN CASES, in certain casesTHEY ARE ISSUED TO OR "BENEFICIALLY OWNED" BY ANY PERSON WHO IS, they are WAS OR BECOMES AN "Beneficially Owned" by an "Acquiring PersonACQUIRING PERSON", as such terms are defined in the Rights AgreementAS SUCH TERMS ARE DEFINED IN THE RIGHTS PLAN, or a transferee thereofWHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR ANY SUBSEQUENT HOLDER) or may be evidenced by separate certificates and may no longer be evidenced by this certificateOR MAY BE EVIDENCED BY SEPARATE CERTIFICATES AND MAY NO LONGER BE EVIDENCED BY THIS CERTIFICATE. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. THE CORPORATION WILL MAIL OR ARRANGE FOR THE MAILING OF A COPY OF THE RIGHTS PLAN TO THE HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON RECEIPT OF A WRITTEN REQUEST THEREFOR. (b) Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall shall, from and after the date hereof, have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated amended and restated as of the 3rd day of AugustMarch 23, 2007, as amended from time to time 2007 (the "“Rights Agreement"”), between MAG Silver Corp. Revett Minerals Inc. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) ), or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially them, the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 14, 20072023, as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. Skeena Resources Limited (the "Corporation") and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence evidence, in addition to the Common Shares, one Right for each Common Share represented thereby and shall or shall be deemed to have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formas follows: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth holder’s rights described in the a Shareholder Rights Plan Agreement, Agreement dated as of June 21, 2018 (the 3rd day of August“Rights Agreement”) between Quaterra Resources Inc. (the “Corporation”) and Computershare Investor Services Inc., 2007Rights Agent, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, as circumstances set forth out in the Rights Agreement, such the Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall also evidence one Right for each Common Share evidenced thereby represented thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued or written acknowledgements for the Common Shares, including without limitation in respect of Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued at or after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate [certificate/Direct Registration Advice] also evidences and entitles the holder hereof to certain Rights as set forth in the Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of May 10, 2013 (amending and restating the 3rd day of AugustShareholder Rights Plan Agreement dated effective October 1, 20072010), as amended such may from time to time be amended, restated, varied or replaced, (the "Rights Agreement"), between MAG Silver Corp. Pembina Pipeline Corporation (the "Corporation") and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this [certificate/Direct Registration Advice]. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at and after the date hereof Record Time, and certificates representing trust units of Pembina Pipeline Income Fund or securities of other predecessor entities of the Corporation that have not been exchanged for certificates representing Common Shares following the Effective Time, shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation the Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Amended Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated as of the 3rd 14th day of AugustMarch, 2007, 1990 and as amended from time to time and restated on the 20th day of April, 1995, between IPSCO Inc. (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation"“Company”) and Computershare Investor Services Inc.Trust Company of Canada, as Rights AgentAgent (the “Amended Rights Agreement”), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the CorporationCompany. Under certain circumstances, as set forth in the Amended Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Amended Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Amended Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. The Amended Rights Agreement was further amended on the 29th day of April, 2004. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of . All Certificates representing Common Shares who have not received a share certificate that are issued and are entitled to do so outstanding on the earlier of the Separation Time and the Expiration Time April 29, 2004 shall be entitled deemed to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by bear the corresponding entries on the Corporation's securities registers for the Common Sharesforegoing legend.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them them, a legend in substantially the following form: Until the Separation Time UNTIL THE SEPARATION TIME (as defined in the Rights Agreement referred to belowAS DEFINED IN THE RIGHTS PLAN REFERRED TO BELOW), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan AgreementTHIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH IN A SHAREHOLDER RIGHTS PLAN AGREEMENT, dated as of the 3rd day of AugustDATED AS OF OCTOBER 22, 2007, as amended from time to time 2007 (the "Rights Agreement"THE “RIGHTS PLAN”), between MAG Silver Corp. BETWEEN YM BIOSCIENCES INC. (the "Corporation"THE “CORPORATION”) and Computershare Investor Services Inc.AND CIBC MELLON TRUST COMPANY, as Rights AgentAS RIGHTS AGENT (THE “RIGHTS AGENT”), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationTHE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH MAY BE INSPECTED DURING NORMAL BUSINESS HOURS AT THE PRINCIPAL EXECUTIVE OFFICE OF THE CORPORATION. Under certain circumstancesUNDER CERTAIN CIRCUMSTANCES, as set forth in the Rights AgreementAS SET FORTH IN THE RIGHTS PLAN, such Rights may be amendedSUCH RIGHTS MAY BE AMENDED OR REDEEMED, redeemedMAY EXPIRE, may expireMAY BECOME NULL AND VOID (IF, may become null and void IN CERTAIN CASES, THEY ARE ISSUED TO OR “BENEFICIALLY OWNED” BY ANY PERSON WHO IS, WAS OR BECOMES AN “ACQUIRING PERSON”, AS SUCH TERMS ARE DEFINED IN THE RIGHTS PLAN, WHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR ANY SUBSEQUENT HOLDER) OR MAY BE EVIDENCED BY SEPARATE CERTIFICATES AND NOT LONGER BY THIS CERTIFICATE. THE CORPORATION WILL MAIL OR ARRANGE FOR THE MAILING OF A COPY OF THE RIGHTS PLAN TO THE HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON RECEIPT OF A WRITTEN REQUEST THEREFOR. (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereofb) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 15th day of AugustMay, 20072018, as amended from time to time (the "Rights Agreement"), between MAG Americas Silver Corp. Corporation (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a1) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend in, if appropriate, both the English and French languages: "Until the Separation Time (as defined in the Shareholder Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated Agreement made as of the 3rd day of AugustDecember 14, 20071989, as amended from time to time (the "Rights Agreement"), ) between MAG Silver Corp. Alcan Aluminium Limited (the "Corporation") and Computershare Investor Services Inc.The Royal Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", " (as such terms are defined in the Rights Agreement, ) or a transferee thereof) , or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor." (2) Notwithstanding Section 2.02(1) any certificate for Common Shares issued after April 24, 1995 shall contain the following legend in, if appropriate, both the English and French languages: "Until the Separation Time (as defined in the Shareholder Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in a Shareholder Rights Agreement made as of December 14, 1989, as amended and restated from time to time (the "Rights Agreement") between Alcan Aluminium Limited (the "Corporation") and The R-M Trust Company (successor to The Royal Trust Company), as Rights Agent (the "Rights Agent"), the terms of which are incorporated herein by reference and a copy of which is on file at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become void if, in certain circumstances, they are "Beneficially Owned" by an "Acquiring Person" (as such terms are defined in the Rights Agreement) or a transferee thereof, or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge within five days after the receipt of a written request therefor." (3) Notwithstanding Section 2.02(1) any certificate for Common Shares issued after April 22, 1999 shall contain the following legend in, if appropriate, both the English and French languages: "Until the Separation Time (as defined in the Shareholder Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in a Shareholder Rights Agreement made as of December 14, 1989, as amended and restated from time to time (the "Rights Agreement") between Alcan Inc. (the "Corporation") and CIBC Mellon Trust Company (successor to The Royal Trust Company), as Rights Agent (the "Rights Agent"), the terms of which are incorporated herein by reference and a copy of which is on file at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become void if, in certain circumstances, they are "Beneficially Owned" by an "Acquiring Person" (as such terms are defined in the Rights Agreement) or a transferee thereof, or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge within five days after the receipt of a written request therefor." (4) With respect to any share certificate for Common Shares which contains the legend referred to in Sections 2.02(1) or (2), from and after April 22, 1999, such legend shall be deemed to be a reference to the Shareholder Rights Agreement made as of December 14, 1989, as amended and restated from time to time thereafter. (5) Certificates representing Common Shares that are issued and outstanding as at the date hereof any time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing a legend until the earlier of the Separation Time and the Expiration Timein accordance with Sections 2.02(1), (2) or (3). (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd 6th day of AugustSeptember, 20072012, as amended from time to time (the "Rights Agreement"), between MAG Silver Pacific Rim Mining Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the CorporationCompany's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a the legend set forth in substantially Section 2.1 of the Original Agreement (which such legend shall be deemed for all purposes to be amended to read the same as set forth below), but Common Share certificates issued after the Amendment Date but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall have impressed on, printed on, written on, or otherwise affixed to them the following formlegend: “Until the Separation Time (as such term is defined in the Amended and Restated Shareholder Rights Plan Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights rights as set forth in the amended and restated shareholder rights plan agreement (the “Amended and Restated Shareholder Rights Plan Agreement, ”) dated as of the 3rd day of AugustMay 25, 2007, as amended from time to time (the "Rights Agreement"), 2007 between MAG Silver Polymet Mining Corp. (the "“Corporation"”) and Computershare Investor Services Inc.Pacific Corporate Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, circumstances as set forth in the Amended and Restated Shareholder Rights Plan Agreement, such Rights may be amended, redeemedredeemed or exchanged, may expire, may lapse, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a Person who is or becomes an "“Acquiring Person"”, as such terms are defined in the Amended and Restated Shareholder Rights Plan Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Amended and Restated Shareholder Rights Plan Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date, as the case may be, shall also evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) One Right for each Common Share shall be issued and Certificates issued for representing the Common Shares, Shares (including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, ) issued after the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, but prior to the close Close of business Business on the earlier of (iii) the Separation Time and (iv) the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: "Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated made as of the 3rd day of AugustJuly 23, 2007, as amended such agreement may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Southwestern Resources Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the CorporationCorporation and is available for viewing at ▇▇▇.▇▇▇▇▇.▇▇▇. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." (b) Certificates representing Common Shares that are issued and outstanding as at the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of (iii) the Separation Time and (iv) the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation the Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence evidence, in addition to the Common Shares, one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreementa shareholder rights agreement, dated as of the 3rd day of AugustFebruary 24, 2007, as amended from time to time between IPSCO Inc. (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation"“Company”) and Computershare Investor Services Inc.Trust Company of Canada, as Rights AgentAgent (the “Rights Agreement”), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of . All Certificates representing Common Shares who have not received a share certificate that are issued and are entitled to do so outstanding on the earlier of the Separation Time and the Expiration Time February 24, 2007 shall be entitled deemed to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by bear the corresponding entries on the Corporation's securities registers for the Common Sharesforegoing legend.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close Close of business Business on the earlier of the Separation Time and the Expiration Time shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a the legend set forth in substantially Section 2.1 of the Original Agreement or the legend set forth in Section 2.1 of the Restated Agreement (which such legends shall be deemed for all purposes to be amended to read the same as set forth below), but Common Share certificates issued after the Amendment Date but prior to the Close of Business on the earlier of the Separation Time and the Expiration Time shall have impressed on, printed on, written on, or otherwise affixed to them the following formlegend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, dated as of February 28, 2006, between the 3rd day Corporation and Computershare Trust Company of August, 2007Canada, as amended rights agent, (the “Rights Agent”) as the same may from time to time be amended, varied, restated or replaced (the "“Rights Agreement"”), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, whether currently held by or a transferee thereofon behalf of such Person or any subsequent holder) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor.” “Jusqu’à l’heure de séparation (définie dans la convention visant les Droits mentionnée ci-dessous), le présent certificat atteste également que son porteur jouit de certains Droits stipulés dans une convention visant un régime de droits de souscription des actionnaires modifiée et mise à jour intervenue en date du 28 février 2006 la Société et la Société de fiducie Computershare du Canada, à titre d’agent des Droits (« agent des Droits »), en sa version pouvant être modifiée, mise à jour ou remplacée de temps à autre (« convention visant les Droits »), convention dont les conditions sont intégrées dans les présentes par renvoi et dont une copie se trouve dans les dossiers tenus au siège social de la Société. Dans certaines circonstances stipulées dans la convention visant les Droits, ces Droits peuvent être modifiés ou rachetés ou peuvent expirer ou devenir nuls (si, dans certains cas, ils sont « détenus à titre de véritable propriétaire » par une « personne faisant une acquisition », selon la définition de ces termes dans la convention visant les Droits, qu’ils soient détenus actuellement par cette personne ou un porteur ultérieur ou pour le compte de ceux-ci). Les Droits peuvent aussi être attestés par des certificats distincts et peuvent ne plus être attestés par le présent certificat. La Société postera ou fera poster sans frais une copie de la convention visant les Droits au porteur du présent certificat dès que possible après la réception d’une demande écrite à cet effet.” (b) Certificates representing Common Shares that are have been issued prior to and remain outstanding as at the date hereof Record Time or the Amendment Date, as the case may be, shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on Time notwithstanding the earlier absence of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced legend required by the corresponding entries on the Corporation's securities registers for the Common SharesSubsection 2.1(a).

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (a) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (b) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of May 28, 2020 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of June 1, 2017, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of May 29, 2014, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of June 2, 2011, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of May 29, 2008, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 29, 2007, 2004) as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. The Descartes Systems Group Inc. (the "Corporation") and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, or the legend set forth in Section 2.1 of the Amended and Restated Shareholder Rights Plan Agreement dated May 2, 2002, or the legend set forth in section 2.1 of the Amended and Restated Shareholder Rights Plan Agreement dated April 27, 2005, or the legend set forth in section 2.1 of the Amended and Restated Shareholder Rights Plan Agreement dated April 29, 2008, which legends shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of April 27, 2011 (amending and restating the 3rd day of AugustAmended and Restated Shareholder Rights Plan Agreement dated April 29, 20072008), as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. Nexen Inc. (the "Corporation") and Computershare Investor Services Inc., CIBC Mellon Trust Company as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, but prior to the close Close of business Business on the earlier of (iii) the Separation Time and (iv) the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated made effective as of the 3rd day of AugustJune 3, 20072009, as amended such agreement may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc.Trust Company of Canada, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the CorporationCorporation and is available for viewing at ▇▇▇.▇▇▇▇▇.▇▇▇. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” (b) Certificates representing Common Shares that are issued and outstanding as at the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of (iii) the Separation Time and (iv) the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall Time, will evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed on, or written on thereon or otherwise affixed to them a legend in substantially thereto the following formlegend: "Until the Separation Time (as such term is defined in the Shareholder Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights rights as set forth in the shareholder rights agreement (the "Shareholder Rights Plan Agreement, ") dated as of the 3rd day of AugustDecember 4, 2007, as amended from time to time (the "Rights Agreement"), 2003 between MAG Silver Polymet Mining Corp. (the "Corporation") and Computershare Investor Services Inc.Pacific Corporate Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, circumstances as set forth in the Shareholder Rights Agreement, such Rights may be amended, redeemedredeemed or exchanged, may expire, may lapse, may become null and void (if, in certain casescircumstances, they are "Beneficially Owned" by a person who is or becomes an "Acquiring Person", as such terms are defined in the Shareholder Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Shareholder Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." Certificates representing Common Shares that are issued and outstanding as at the date hereof shall Record Time will also evidence one Right for each one Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. Certificates or other evidence of registration (aincluding book-entry confirmations) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued at or after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this [certificate / Direct Registration Advice] also evidences and entitles the holder hereof to certain Rights as set forth in the Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustMay 6, 20072016, as amended such may from time to time be amended, restated, varied or replaced, (the "“Rights Agreement"”), between MAG Silver Corp. Enerplus Corporation (the "“Corporation"”) and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate[certificate / Direct Registration Advice]. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at and after the date hereof Record Time, and certificates representing trust units of Enerplus Resources Fund or securities of other predecessor entities of the Corporation that have not been exchanged for certificates representing Common Shares following the Effective Time, shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Close of Business on the Amendment Date but prior to the close Close of business Business on the earlier of the Separation Time and the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: "Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Revised Amended and Restated Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustMay 31, 2007, as amended from time to time 2012 (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc.Registrar and Transfer Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. . (b) Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall Time, will evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed on, or written on thereon or otherwise affixed to them a legend in substantially thereto the following formlegend: "Until the Separation Time (as such term is defined in the Shareholder Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights rights as set forth in the shareholder rights agreement (the "Shareholder Rights Plan Agreement, ") dated as of the 3rd day of AugustApril 30, 2007, as amended from time to time (the "Rights Agreement"), 2005 between MAG Silver Corp. CANARC RESOURCE CORP. (the "Corporation") and Computershare Investor Services Inc.COMPUTERSHARE INVESTOR SERVICES INC., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, circumstances as set forth in the Shareholder Rights Agreement, such Rights may be amended, redeemedredeemed or exchanged, may expire, may lapse, may become null and void (if, in certain casescircumstances, they are "Beneficially Owned" by a person who is or becomes an "Acquiring Person", as such terms are defined in the Shareholder Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Shareholder Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." Certificates representing Common Shares that are issued and outstanding as at the date hereof shall Record Time will also evidence one Right for each one Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence evidence, in addition to the Common Shares, one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustApril 20, 2007, as amended from time to time 2006 (the "“Rights Agreement"”), between MAG Silver Corp. Metallica Resources Inc. (the "“Corporation"”) and Computershare Investor Equity Transfer Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation the Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Date but prior to the close of business on the earlier of the Separation Time and the Expiration Time Date shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially them, the following formlegend: Until the Separation Time Date (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof thereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated as of the 3rd 4th day of AugustApril, 2007, as amended from time to time 1997 (the "Rights Agreement"), between MAG Silver Corp. FX Energy, Inc. (the "CorporationCompany") ), and Computershare Investor Services Inc.Fidelity Transfer Corp., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemedredeemed by the Company, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. Certificates representing Common Shares of the Company that are issued and outstanding as at the date hereof Record Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Timelegend. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of December 2, 2010 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of December 6, 2007, which amended and restated the Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustNovember 1, 20072004), as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. Open Text Corporation (the "“Corporation"”) and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practical after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of May 15, 2008 (amending and restating the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of August, 2007April 22,2005), as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. GSI Group Inc. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be be. evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” (b) Certificates representing Common Shares that are issued and outstanding as at the Record Time or the date hereof shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd ◼ day of August◼, 20072014, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. Roxgold Inc. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, Agreement dated effective as of the 3rd day of AugustOctober 3, 2007, as amended from time to time 2007 (the "“Rights Agreement"”), between MAG Silver Corp. Farallon Resources Ltd. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of December 2, 2010September 26, 2013 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of December 2, 2010, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 6, 2007, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 1, 20072004), as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. Open Text Corporation (the "Corporation") and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (a) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (b) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of May 29, 2014 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of June 2, 2011, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of May 29, 2008, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 29, 2007, 2004) as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. The Descartes Systems Group Inc. (the "Corporation") and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation the Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof of this Agreement but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: legend (which legend may be modified as necessary on the certificates for the Common Stock or Nonvoting Common Stock, as the case may be, to reflect the application of this Agreement to the Common Stock or the Nonvoting Common Stock, as the case may be): Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated as of the 3rd day of August, 2007, April 1999 (as such may be amended from time to time (time, the "Rights Agreement"), between MAG Silver Corp. The Gold▇▇▇ ▇▇▇hs Group, Inc. (the "Corporation") and Computershare Investor Services Inc., as the Rights AgentAgent named therein, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amendedredeemed, redeemedmay become exercisable for securities or assets of the Corporation or securities of another entity, may be exchanged for Common Shares or other securities or assets of the Corporation, may expire, may become null and void (if, in certain cases, if they are "Beneficially Owned" by an "Acquiring Person"" or an Affiliate or Associate thereof, as such terms are defined in the Rights Agreement, or a by any transferee thereofof any of the foregoing) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing If the Common Shares that are issued and outstanding as at after the date hereof of this Agreement but prior to the Separation Time shall be uncertificated, the registration of such Common Shares on the stock transfer books of the Company shall evidence one Right for each Common Share evidenced represented thereby notwithstanding and the absence Company will mail to every Person that holds such Common Shares a confirmation of the foregoing legend until the earlier registration of the Separation Time and the Expiration Time. (b) Registered holders of such Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.stock

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 24th day of AugustMay, 20072011, as amended from time to time time, (the "Rights Agreement"), ) between MAG Silver Corp. Cream Minerals Ltd. (the "CorporationCompany") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the CorporationCompany's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated amended and restated as of the 3rd day of AugustMay 10, 2007, as amended from time to time 2017 (the "“Rights Agreement"”), between MAG Silver Corp. Finning International Inc. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) , or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefortherefore.” or in the form set out in the Original Agreement or the Existing Agreement. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed thereto, prior to them a the date hereof, the legend in substantially the following formset forth below: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, Agreement dated as of the 3rd day of AugustMay 5, 20072017, and as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. Mongolia Growth Group Ltd. (the "“Corporation"”) and Computershare Investor Services Inc.Trust Company of Canada, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close Close of business Business on the earlier of the Separation Time and the Expiration Time shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a the legend set forth in substantially the Original Agreement (which legend shall be deemed for all purposes to be amended to read the same as set forth below), but Common Share certificates issued after the Amendment Date but prior to the Close of Business on the earlier of the Separation Time and the Expiration Time shall have impressed on, printed on, written on, or otherwise affixed to them the following formlegend: "Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, dated as of February 14, 2003, between the 3rd day Corporation and Computershare Trust Company of August, 2007Canada, as amended rights agent, (the "Rights Agent") as the same may from time to time be amended, varied, restated or replaced (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, whether currently held by or a transferee thereofon behalf of such Person or any subsequent holder) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares."

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation the Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated as of the 3rd day of AugustApril 20, 2007, as amended from time to time 1990 (the "Rights Agreement"), between MAG Silver Corp. The ▇▇▇▇▇▇ Group Inc. (the "CorporationCompany") and Computershare Investor Services Inc.The Royal Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificateCertificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall Time, will evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed on, or written on thereon or otherwise affixed to them a legend in substantially thereto the following formlegend: "Until the Separation Time (as such term is defined in the Shareholder Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights rights as set forth in the shareholder rights agreement (the "Shareholder Rights Plan Agreement, ") dated as of the 3rd day of AugustJune 15, 2007, as amended from time to time (the "Rights Agreement"), 2006 between MAG Silver Corp. ENDEAVOUR SILVER CORP. (the "Corporation") and Computershare Investor Services Inc.COMPUTERSHARE INVESTOR SERVICES INC., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, circumstances as set forth in the Shareholder Rights Agreement, such Rights may be amended, redeemedredeemed or exchanged, may expire, may lapse, may become null and void (if, in certain casescircumstances, they are "Beneficially Owned" by a person who is or becomes an "Acquiring Person", as such terms are defined in the Shareholder Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Shareholder Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." Certificates representing Common Shares that are issued and outstanding as at the date hereof shall Record Time will also evidence one Right for each one Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 21st day of AugustMarch, 20072012, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. Jaguar Mining Inc. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (a) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (b) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of [May 29], 2014 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of June 2, 2011, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of May 29, 2008, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 29, 2007, 2004) as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. The Descartes Systems Group Inc. (the "Corporation") and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall shall, from and after the date hereof, have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated amended and restated as of the 3rd day of AugustMay 10, 2007, as amended from time to time 2010 (the "“Rights Agreement"”), between MAG Silver Corp. Revett Minerals Inc. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) ), or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued at or after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this [certificate / Direct Registration Advice] also evidences and entitles the holder hereof to certain Rights as set forth in the Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of May 10, 2013 (amending and restating the 3rd day of AugustShareholder Rights Plan Agreement dated effective January 1, 20072011), as amended such may from time to time be amended, restated, varied or replaced, (the "Rights Agreement"), between MAG Silver Corp. Enerplus Corporation (the "Corporation") and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate[certificate / Direct Registration Advice]. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at and after the date hereof Record Time, and certificates representing trust units of Enerplus Resources Fund or securities of other predecessor entities of the Corporation that have not been exchanged for certificates representing Common Shares following the Effective Time, shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them them, a legend in substantially the following form: Until the Separation Time UNTIL THE SEPARATION TIME (as defined in the Rights Agreement referred to belowAS DEFINED IN THE RIGHTS PLAN REFERRED TO BELOW), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan AgreementTHIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH IN A SHAREHOLDER RIGHTS PLAN AGREEMENT, dated as of the 3rd day of AugustDATED AS OF AUGUST 25, 20072005, as amended from time to time AS AMENDED ON OCTOBER 29, 2008 (the "Rights Agreement"THE “RIGHTS PLAN”), between MAG Silver Corp. BETWEEN MEDICURE INC. (the "Corporation"THE “CORPORATION”) and Computershare Investor Services Inc.AND COMPUTERSHARE TRUST COMPANY OF CANADA, as Rights AgentAS RIGHTS AGENT (THE “RIGHTS AGENT”), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationTHE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH MAY BE INSPECTED DURING NORMAL BUSINESS HOURS AT THE PRINCIPAL EXECUTIVE OFFICE OF THE CORPORATION. Under certain circumstancesUNDER CERTAIN CIRCUMSTANCES, as set forth in the Rights AgreementAS SET FORTH IN THE RIGHTS PLAN, such Rights may be amendedSUCH RIGHTS MAY BE AMENDED OR REDEEMED, redeemedMAY EXPIRE, may expireMAY BECOME NULL AND VOID (IF, may become null and void IN CERTAIN CASES, THEY ARE ISSUED TO OR “BENEFICIALLY OWNED” BY ANY PERSON WHO IS, WAS OR BECOMES AN “ACQUIRING PERSON”, AS SUCH TERMS ARE DEFINED IN THE RIGHTS PLAN, WHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR ANY SUBSEQUENT HOLDER) OR MAY BE EVIDENCED BY SEPARATE CERTIFICATES AND MAY NO LONGER BE EVIDENCED BY THIS CERTIFICATE. THE CORPORATION WILL MAIL OR ARRANGE FOR THE MAILING OF A COPY OF THE RIGHTS PLAN TO THE HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON RECEIPT OF A WRITTEN REQUEST THEREFOR. (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereofb) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close Close of business Business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustMarch 19, 2007, as amended from time to time 2007 (the "“Rights Agreement"”), between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” (b) Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of September 23, 2016 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of September 26, 2013, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 2, 2010, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 6, 2007, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 1, 20072004), as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. Open Text Corporation (the "“Corporation"”) and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common SharesShares and Common Shares that are issued and registered in Book Entry Form, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Amended and Restated Shareholder Rights Plan Agreement, dated as of the 3rd 7th day of AugustMay, 20072018, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. ▇▇▇▇▇▇▇ Resources Ltd. (the "CorporationCompany") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the CorporationCompany's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates representing Voting Shares which are issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall Time, will evidence one Right for each Common Voting Share represented thereby and shall have impressed onimpressed, printed on, or written on thereon or otherwise affixed to them a legend in substantially thereto the following formlegend: "Until the Separation Time (as such term is defined in the Shareholder Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd day of August, 2007, as amended from time to time shareholder rights agreement (the "Shareholder Rights Agreement")) dated for reference October 18, 2010, between MAG Silver Corp. PETAQUILLA MINERALS LTD. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, circumstances as set forth in the Shareholder Rights Agreement, such Rights may be amended, redeemedredeemed or exchanged, may expire, may lapse, may become null and void (if, in certain casescircumstances, they are "Beneficially Owned" by a person who is or becomes an "Acquiring Person", as such terms are defined in the Shareholder Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Shareholder Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." Certificates representing Common Voting Shares that are issued and outstanding as at the date hereof shall Record Time will also evidence one Right for each Common one Voting Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 25th day of August, June 2007, as amended from time to time (the "“Rights Agreement"”), between MAG Silver Corp. Olympus Pacific Minerals Inc. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares.. Table of Contents

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence evidence, in addition to Common Shares, one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustSeptember 8, 20072023, as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Vizsla Silver Corp. (the "“Corporation"”) and Computershare Investor Services Inc., Inc. Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file at the registered office of the Corporation and is available for viewing at ▇▇▇.▇▇▇▇▇▇▇▇▇.▇▇. The existence of the Rights Agreement may be inspected during normal business hours confirmed at three year intervals by the principal executive offices vote of a majority of the CorporationIndependent Shareholders (as such term is defined in the Rights Agreement) in a manner which is consistent with the provisions of the Rights Agreement. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Any Common Shares issued and registered in Book Entry Form (that are evidenced by an advice or other statement on which are maintained electronically the records of the transfers) after the Record Time but prior to the earlier of the Separation Time and the Expiration Time, shall evidence, in addition to the Common Shares, on Right for each Common Share represented by such registration and the registration record of such Common Shares shall include the foregoing legend, adapted accordingly, as the Rights Agent may reasonably require. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation the Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof of this Agreement but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: legend (which legend may be modified as necessary on the certificates for the Common Stock or Nonvoting Common Stock, as the case may be, to reflect the application of this Agreement to the Common Stock or the Nonvoting Common Stock, as the case may be): Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated as of the 3rd day of August, 2007, April 1999 (as such may be amended from time to time (time, the "Rights Agreement"), between MAG Silver Corp. The Gold▇▇▇ ▇▇▇h▇ ▇▇▇up, Inc. (the "Corporation") and Computershare Investor Services Inc., as the Rights AgentAgent named therein, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amendedredeemed, redeemedmay become exercisable for securities or assets of the Corporation or securities of another entity, may be exchanged for Common Shares or other securities or assets of the Corporation, may expire, may become null and void (if, in certain cases, if they are "Beneficially Owned" by an "Acquiring Person"" or an Affiliate or Associate thereof, as such terms are defined in the Rights Agreement, or a by any transferee thereofof any of the foregoing) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing If the Common Shares that are issued and outstanding as at after the date hereof of this Agreement but prior to the Separation Time shall be uncertificated, the registration of such Common Shares on the stock transfer books of the Company shall evidence one Right for each Common Share evidenced represented thereby notwithstanding and the absence Company will mail to every Person that holds such Common Shares a confirmation of the foregoing legend until registration of such Common Shares on the earlier stock transfer books of the Separation Time and Company, which confirmation will have impressed, printed, written or stamped thereon or otherwise affixed thereto the Expiration Time. (b) Registered holders above legend. The Company will mail or arrange for the mailing of a copy of this Agreement to any Person that holds Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights Shares, as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries registration of the Common Shares in the name of such Person on the Corporation's securities registers for stock transfer books of the Common SharesCompany, without charge after the receipt of a written request therefor.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, Agreement dated effective as of the 3rd day of August<>, 2007, as amended from time to time 2008 (the "“Rights Agreement"”), between MAG Silver Lincoln Gold Corp. (the "“Corporation"”) and Computershare Investor Services Inc.Pacific Corporate Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a prior to the Amendment Date (i) the legend set forth in substantially Section 2.1 of the Original Plan, the legend set forth in Section 2.1 of the Amended and Restated Shareholders Rights Plan Agreement dated April 21, 1999 or the legend set forth in Section 2.1 of the Amended and Restated Shareholder Rights Plan Agreement dated April 26, 2002, which legends shall be deemed to be amended for all purposes to read the same as the following formlegend or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, dated as of April 28, 2005 (amending and restating the 3rd day of AugustShareholder Rights Plan Agreement dated January 25, 20071996 as amended and restated April 15, 1996, April 21, 1999 and April 26, 2002, as amended such may from time to time be amended, restated, varied or replaced, (the "“Rights Agreement"”), between MAG Silver Corp. Suncor Energy Inc. (the "“Corporation"”) and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence evidence, in addition to Common Shares, one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustSeptember 8, 20072023, as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Vizsla Silver Corp. (the "Corporation") and Computershare Investor Services Inc., Inc. Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file at the registered office of the Corporation and is available for viewing at ▇▇▇.▇▇▇▇▇▇▇▇▇.▇▇. The existence of the Rights Agreement may be inspected during normal business hours confirmed at three year intervals by the principal executive offices vote of a majority of the CorporationIndependent Shareholders (as such term is defined in the Rights Agreement) in a manner which is consistent with the provisions of the Rights Agreement. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Any Common Shares issued and registered in Book Entry Form (that are evidenced by an advice or other statement on which are maintained electronically the records of the transfers) after the Record Time but prior to the earlier of the Separation Time and the Expiration Time, shall evidence, in addition to the Common Shares, on Right for each Common Share represented by such registration and the registration record of such Common Shares shall include the foregoing legend, adapted accordingly, as the Rights Agent may reasonably require. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of December 6, 2007 (amending and restating the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 1, 20072004), as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. Open Text Corporation (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the legend in substantially (iii) below, or (ii) the legend set forth in Section 2.1 of the Existing Plan, which legend shall be deemed to be amended for all purposes to read the same as the legend in (iii) below, or (iii) the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustMay 21, 20072015, as amended such may from time to time be amended, restated, varied or replaced, (the "“Rights Agreement"”), between MAG Silver Corp. Sierra Wireless, Inc. (the "“Corporation"”) and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation the Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Date but prior to the close of business on the earlier of the Separation Time and the Expiration Time Date shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially them, the following formlegend: Until the Separation Time Date (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof thereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, dated as of the 3rd 20th day of AugustFebruary, 2007, as amended from time to time 1997 (the "Rights Agreement"), between MAG Silver Corp. FX Energy, Inc. (the "CorporationCompany") ), and Computershare Investor Services Inc.Fidelity Transfer Corp., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemedredeemed by the Company, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. Certificates representing Common Shares of the Company that are issued and outstanding as at the date hereof Record Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Timelegend. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued at or after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this [certificate / Direct Registration Advice] also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustJanuary 1, 20072011, as amended such may from time to time be amended, restated, varied or replaced, (the "Rights Agreement"), between MAG Silver Corp. Enerplus Corporation (the "Corporation") and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate[certificate / Direct Registration Advice]. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at and after the date hereof Record Time, and certificates representing trust units of the Fund or securities of other predecessor entities of the Fund that have not been exchanged for certificates representing Common Shares following the Effective Time, shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 18th day of AugustApril, 20072013, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. Augusta Resource Corporation (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) 2.1.1 Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the later of: (a) the Record Time; and (b) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, but prior to the close Close of business Business on the earlier of of: (c) the Separation Time and Time; and (d) the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated made as of the 3rd day of AugustSeptember 1, 2007, as amended from time to time 2006 (the "“Rights Agreement"”), between MAG Silver Corp. (the "Corporation") Company and Computershare Investor Services Inc.Pacific Corporate Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” 2.1.2 Certificates representing Common Shares that are issued and outstanding as at the later of: (a) the Record Time; and (b) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of of: (c) the Separation Time and Time; and (d) the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a the legend set forth in substantially Section 2.1 of the 2007 Amended and Restated Agreement (which such legend shall be deemed for all purposes to be amended to read the same as set forth below), but Common Share certificates issued after the Amendment Date but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall have impressed on, printed on, written on, or otherwise affixed to them the following formlegend: “Until the Separation Time (as such term is defined in the Amended and Restated Shareholder Rights Plan Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights rights as set forth in the amended and restated shareholder rights plan agreement (the “Amended and Restated Shareholder Rights Plan Agreement, ”) dated as of the 3rd day of AugustJanuary 16, 2007, as amended from time to time (the "Rights Agreement"), 2008 between MAG Silver PolyMet Mining Corp. (the "“Corporation"”) and Computershare Investor Services Inc.Pacific Corporate Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, circumstances as set forth in the Amended and Restated Shareholder Rights Plan Agreement, such Rights may be amended, redeemedredeemed or exchanged, may expire, may lapse, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a Person who is or becomes an "“Acquiring Person"”, as such terms are defined in the Amended and Restated Shareholder Rights Plan Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Amended and Restated Shareholder Rights Plan Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date, as the case may be, shall also evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the effective date of this Agreement, shall have impressed on, printed on, written on or otherwise affixed to them them, a legend in substantially the following form: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles rights of the holder hereof to certain Rights as set forth described in the a Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustMay 1, 20072006, as amended and restated (the “Rights Agreement”), between the Corporation and Computershare Trust Company of Canada, as the same may from time to time (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agentbe amended, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as circumstances set forth out in the Rights Agreement, such Rights the rights may be amended, redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates .” (b) Until the earlier of the Separation Time and the Expiration Time, certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of legend. Following the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to , Rights as if such certificates had been issued and such Rights shall for all purposes hereof will be evidenced by the corresponding entries on the Corporation's securities registers for the Common SharesRights Certificates issued pursuant to Section 2.2.

Legend on Common Share Certificates. (a1) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 16th day of AugustMarch, 20072012, as amended from time to time (the "“Rights Agreement"”), between MAG Silver Corp. Crystallex International Corporation (the "“Corporation"”) and Computershare Investor Services Inc.CIBC Mellon Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. . (2) Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b3) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates Common Share certificates that are issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence evidence, in addition to Common Shares, one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Shareholder Rights Plan Agreement referred to below), this certificate also evidences and entitles rights of the holder hereof to certain Rights as set forth described in the a Shareholder Rights Plan Agreement, dated as of March 15, 2018 (the 3rd day of August“Shareholder Rights Plan Agreement”), 2007, between the Corporation and Computershare Investor Services Inc. as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agenttime, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as circumstances set forth out in the Shareholder Rights Plan Agreement, such Rights the rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Shareholder Rights Plan Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Any Common Shares issued and registered in Book Entry Form (that are evidenced by an advice or other statement on which are maintained electronically the records of the transfers) after the Record Time but prior to the earlier of the Separation Time and the Expiration Time, shall evidence, in addition to the Common Shares, one Right for each Common Share represented by such registration and the registration record of such Common Shares shall include the foregoing legend, adapted accordingly as the Rights Agent may reasonably require. Common Shares (both registered in Book Entry Form or for which share certificates have been issued) that are issued and outstanding at the Record Time, which as at the date hereof Effective Time represent Common Shares, shall also evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the later of (i) the Record Time and (ii) the date hereof on which all regulatory approvals for this Agreement have been received but prior to the close of business on the earlier of (iii) the Separation Time and (iv) the Expiration Time shall shall, subject to Subsection 2.3(j), also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: "Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustApril 23, 2007, as amended from time to time 1997 (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc.The R-M Trust Company, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) ), or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail mail, or arrange for the mailing of of, a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable promptly after the receipt of a written request therefor. ." (b) Certificates representing Common Shares that are issued and outstanding as at the later of (i) the Record Time and (ii) the date hereof on which all regulatory approvals for this Agreement have been received shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of (iii) the Separation Time and (iv) the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in a form substantially to the following formeffect: “Until the Separation Time (as defined in the Rights Shareholder Plan Agreement referred to below), this certificate also evidences and entitles rights of the holder hereof to certain Rights as set forth described in the a Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustOctober 13, 20071992, as amended or supplemented from time to time (the "Rights “Shareholder Plan Agreement"”), between MAG Silver Corp. TransAlta Corporation (the "Corporation"“TransAlta”) and Computershare Investor Services Inc., as Rights AgentCST AST Trust Company (Canada), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationTransAlta. Under certain circumstances, as circumstances set forth out in the Rights Shareholder Plan Agreement, such Rights may be amended, redeemed, the rights may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation TransAlta will mail or arrange for the mailing of a copy of the Rights Shareholder Plan Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding at the Record Time, including certificates representing Utilities Common Shares, which as at the date hereof Effective Date represent Common Shares, shall also evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Any Common Shares who have not received a share certificate issued and are entitled registered in Book Entry Form prior to do so on the earlier of the Separation Time and the Expiration Time shall be entitled evidence, in addition to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares, one Right for each Common Share represented thereby and the registration record of such Common Shares shall include the foregoing legend, adapted accordingly as the Rights Agent may reasonably require.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them them, a legend in substantially the following form: Until the Separation Time UNTIL THE SEPARATION TIME (as defined in the Rights Agreement referred to belowAS DEFINED IN THE RIGHTS PLAN REFERRED TO BELOW), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan AgreementTHIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH IN A SHAREHOLDER RIGHTS PLAN AGREEMENT, dated as of the 3rd day of AugustDATED AS OF MAY 26, 2007, as amended from time to time 2000 (the "Rights Agreement"THE “RIGHTS PLAN”), between MAG Silver Corp. BETWEEN GTR GROUP INC. (the "Corporation"THE “CORPORATION”) and Computershare Investor Services Inc.AND MONTREAL TRUST COMPANY OF CANADA, as Rights AgentAS RIGHTS AGENT (THE “RIGHTS AGENT”), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationTHE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH MAY BE INSPECTED DURING NORMAL BUSINESS HOURS AT THE PRINCIPAL EXECUTIVE OFFICE OF THE CORPORATION. Under certain circumstancesUNDER CERTAIN CIRCUMSTANCES, as set forth in the Rights AgreementAS SET FORTH IN THE RIGHTS PLAN, such Rights may be amendedSUCH RIGHTS MAY BE AMENDED OR REDEEMED, redeemedMAY EXPIRE, may expireMAY BECOME NULL AND VOID (IF, may become null and void IN CERTAIN CASES, THEY ARE ISSUED TO OR “BENEFICIALLY OWNED” BY ANY PERSON WHO IS, WAS OR BECOMES AN “ACQUIRING PERSON”, AS SUCH TERMS ARE DEFINED IN THE RIGHTS PLAN, WHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR ANY SUBSEQUENT HOLDER) OR MAY BE EVIDENCED BY SEPARATE CERTIFICATES AND MAY NO LONGER BE EVIDENCED BY THIS CERTIFICATE. THE CORPORATION WILL MAIL OR ARRANGE FOR THE MAILING OF A COPY OF THE RIGHTS PLAN TO THE HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON RECEIPT OF A WRITTEN REQUEST THEREFOR. (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereofb) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) 2.1.1 Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close Close of business Business on the earlier of the Separation Time and the Expiration Time shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: "Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustJuly 12, 2007, as amended from time to time 2004 (the "Rights Agreement"), ) between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc.Trust Company of Canada, as Rights Agent, as the same may be amended or supplemented from time to time in accordance with the terms thereof, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." 2.1.2 Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.of:

Legend on Common Share Certificates. (a) Certificates issued or written acknowledgements for the Common Shares, including without limitation in respect of Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued at or after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustOctober 1, 20072010, as amended such may from time to time be amended, restated, varied or replaced, (the "Rights Agreement"), between MAG Silver Corp. Pembina Pipeline Corporation (the "Corporation") and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates certificate and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at and after the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a1) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the effective date of this Agreement, shall have impressed on, printed on, written on or otherwise affixed to them them, a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement Plan referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustJune 15, 20072000, as amended and restated from time to time (the "Rights AgreementPlan"), between MAG Silver Cedara Software Corp. (the "Corporation") and Computershare Investor Services Inc.Montreal Trust Company of Canada, as rights agent (the "Rights Agent"), the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, as set forth in the Rights AgreementPlan, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are issued to or "Beneficially Owned" by any Person who is, was or becomes an "Acquiring Person", as such terms are defined in the Rights AgreementPlan, whether currently held by or a transferee thereofon behalf of such Person or any subsequent holder) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement Plan to the holder of this certificate without charge as soon as is reasonably practicable after the upon receipt of a written request therefor. Certificates . (2) Until the earlier of the Separation Time and the Expiration Time, certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of legend. Following the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to , Rights as if such certificates had been issued and such Rights shall for all purposes hereof will be evidenced by the corresponding entries on the Corporation's securities registers for the Common SharesRights certificates issued pursuant to Section 2.2 hereof.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (a) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (b) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of June 1, 2017 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of May 29, 2014, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of June 2, 2011, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of May 29, 2008, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 29, 2007, 2004) as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. The Descartes Systems Group Inc. (the "Corporation") and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 4th day of AugustMay, 20072006, as amended from time to time (the "“Rights Agreement"”), between MAG Silver Corp. Cumberland Resources Ltd. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, but prior to the close Close of business Business on the earlier of (iii) the Separation Time and (iv) the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated made as of the 3rd day of AugustMarch 10, 2007, as amended from time to time 2004 (the "“Rights Agreement"”), between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc.Trust Company of Canada, as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Table of Contents Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” (b) Certificates representing Common Shares that are issued and outstanding as at the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of (iii) the Separation Time and (iv) the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 25th day of August, June 2007, as amended from time to time (the "“Rights Agreement"”), between MAG Silver Corp. Olympus Pacific Minerals Inc. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefortherefore. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, Agreement dated effective as of the 3rd day of AugustFebruary 13, 2007, as amended from time to time 2007 (the "“Rights Agreement"”), between MAG Silver Corp. Taseko Mines Limited (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a1) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the effective date of this Agreement, shall have impressed on, printed on, written on or otherwise affixed to them them, a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles rights of the holder hereof to certain Rights as set forth described in the a Shareholder Rights Plan Agreement, dated as of the 3rd day of AugustAugust 14, 20072006, as amended and restated from time to time (the "“Rights Agreement"”), between MAG Silver Corp. (the "Corporation") Corporation and Computershare Investor Services Inc., CIBC Mellon Trust Company as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationCorporation and is available upon written request. Under certain circumstances, as circumstances set forth out in the Rights Agreement, such Rights the rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for . (2) Until the mailing of a copy earlier of the Rights Agreement to Separation Time and the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates Expiration Time, certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of legend. Following the Separation Time and the Expiration Time, Rights will be evidenced by Rights Certificates issued pursuant to Section 2.2 hereof. (b3) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's Company’s securities registers register for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, Agreement dated effective as of the 3rd day of AugustDecember 11, 2007, as amended from time to time 2006 (the "“Rights Agreement"”), between MAG Silver Corp. Taseko Mines Limited (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) One Right for each Common Share shall be issued and Certificates issued for representing the Common Shares, Shares (including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, ) issued after the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, but prior to the close Close of business Business on the earlier of (iii) the Separation Time and (iv) the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated made as of the 3rd day of AugustMay 28, 2007, as amended such agreement may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. (the "Corporation") InterOil Corporation and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the CorporationCorporation and is available for viewing at w▇▇.▇▇▇▇▇.▇▇▇. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” (b) Certificates representing Common Shares that are issued and outstanding as at the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of (iii) the Separation Time and (iv) the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates Common Share certificates that are issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence evidence, in addition to Common Shares, one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Shareholder Rights Plan Agreement referred to below), this certificate also evidences and entitles rights of the holder hereof to certain Rights as set forth described in the a Shareholder Rights Plan Agreement, dated as December 30, 2021 (the “Shareholder Rights Plan Agreement”), between the Corporation and Computershare Trust Company of the 3rd day of August, 2007, Canada as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agenttime, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as circumstances set forth out in the Shareholder Rights Plan Agreement, such Rights the rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Shareholder Rights Plan Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Any Common Shares issued and registered in Book Entry Form (that are evidenced by an advice or other statement on which are maintained electronically the records of the transfers) after the Record Time but prior to the earlier of the Separation Time and the Expiration Time, shall evidence, in addition to the Common Shares, one Right for each Common Share represented by such registration and the registration record of such Common Shares shall include the foregoing legend, adapted accordingly as the Rights Agent may reasonably require. Common Shares in both registered in Book Entry Form or for which share certificates have been issued, that are issued and outstanding as at the date hereof Record Time, shall also evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of September 4, 2019 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of September 23, 2016, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of September 26, 2013, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 2, 2010, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 6, 2007, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 1, 20072004), as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. Open Text Corporation (the "“Corporation"”) and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. The Corporation hereby issues the Rights to all holders of Common Shares as of the date hereof on the terms and subject to the conditions set out in this Agreement. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 25th day of AugustMay, 20072012, as amended from time to time (the "“Rights Agreement"”), between MAG Silver Corp. Extorre Gold Mines Limited (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd day of August, 2007, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares. (c) Any Common Shares issued and registered in Book Entry Form after the Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence, in addition to such Common Shares, one Right for each Common Share represented by such registration and the registration record of such Common Shares shall include the legend provided for in Subsection 2.1(a). Common Shares registered in Book Entry Form that are issued and outstanding as at the Record Time, which as at the Effective Date represent Common Shares, shall also evidence one Right for each Common Share evidenced thereby, notwithstanding the absence of the afore-mentioned legend, until the close of business on the earlier of the Separation Time and the Expiration Time.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, which legend shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in an Amended and Restated Shareholder Rights Plan Agreement dated as of September 23, 2016 (amending and restating the Amended and Restated Shareholder Rights Plan Agreement dated as of September 26, 2013, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 2, 2010, which amended and restated the Amended and Restated Shareholder Rights Plan Agreement dated as of December 6, 2007, which amended and restated the Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 1, 20072004), as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. Open Text Corporation (the "“Corporation"”) and Computershare Investor Services Inc., Inc. as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the ~13~ mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Effective at the Record Time, one Right for each Common Share shall be issued and Certificates issued for representing the Common Shares, Shares (including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, ) issued after the later of (i) the Record Time and (ii) the date hereof on which all required regulatory approvals required in respect of this Agreement have been received, but prior to the close Close of business Business on the earlier of (iii) the Separation Time and (iv) the Expiration Time Time, shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: "Until the earlier of Separation Time or the Expiration Time (as both terms are defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, dated made as of the 3rd day of AugustApril 24, 20072013, as amended such agreement may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") InterOil Corporation and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the CorporationCorporation and is available for viewing at w▇▇.▇▇▇▇▇.▇▇▇. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. ." (b) Certificates representing Common Shares that are issued and outstanding as at the later of, if any, the Record Time and the date hereof on which all required regulatory approvals required, if any, in respect of this Agreement have been received, shall evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a legend legend, substantially in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustNovember 1, 20072004, as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Corp. Open Text Corporation (the "“Corporation"”) and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable practicable, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence evidence, in addition to the Common Shares, one Right for each Common Share represented thereby and shall or shall be deemed to have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formas follows: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth holder's rights described in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustFebruary 27, 2007, as amended from time to time 2015 (the "Rights Agreement"), ) between MAG Southern Silver Exploration Corp. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agentthe same may from time to time be amended, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, as circumstances set forth out in the Rights Agreement, such the Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall also evidence one Right for each Common Share evidenced thereby represented thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustApril 23, 20072013, as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Algonquin Power & Utilities Corp. (the "“Corporation"”) and Computershare Investor Services Inc., CIBC Mellon Trust Company as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Effective Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 24th day of AugustApril, 20072013, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. Western Copper and Gold Corporation (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the CorporationCompany. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation Company will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the CorporationCompany's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, Agreement dated effective as of the 3rd day of AugustFebruary 28, 2007, as amended from time to time 2013 (the "“Rights Agreement"”), between MAG Silver Corp. Atlantic Power Corporation (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. Certificates or other evidence of registration (aincluding Direct Registration System statement or other book- entry confirmation) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued at or after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate [certificate/Direct Registration System statement] also evidences and entitles the holder hereof to certain Rights as set forth in the Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustMay 12, 20072016, as amended such may from time to time be amended, restated, varied or replaced, (the "Rights Agreement"), between MAG Silver Corp. Pembina Pipeline Corporation (the "Corporation") and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this [certificate/Direct Registration Advice]. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at and after the date hereof Record Time, and certificates representing trust units of Pembina Pipeline Income Fund or securities of other predecessor entities of the Corporation that have not been exchanged for certificates representing Common Shares following the Effective Time, shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation representing Common Shares which are issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time Time, shall evidence evidence, in addition to the Common Shares, one Right for each Common Share represented thereby and shall or shall be deemed to have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formas follows: “Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth holder’s rights described in the a Shareholder Rights Plan Agreement, Agreement dated as of January 26, 2023 (the 3rd day of August“Rights Agreement”) between Bravada Gold Corporation (the “Corporation”) and Computershare Investor Services Inc., 2007Rights Agent, as amended from time to time (the "Rights Agreement"), between MAG Silver Corp. (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, as circumstances set forth out in the Rights Agreement, such the Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall also evidence one Right for each Common Share evidenced thereby represented thereby, notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 15th day of AugustMay, 20072018, as amended from time to time (the "Rights Agreement"), between MAG Americas Silver Corp. Corporation (the "Corporation") and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. Certificates or other evidence of registration (aincluding Direct Registration System statement or other book-entry confirmation) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued at or after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate [certificate/Direct Registration System statement] also evidences and entitles the holder hereof to certain Rights as set forth in the Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustMay 12, 20072016, as amended such may from time to time be amended, restated, varied or replaced, (the "Rights Agreement"), between MAG Silver Corp. Pembina Pipeline Corporation (the "Corporation") and Computershare Investor Services Inc., Trust Company of Canada as Rights Agent, the terms of which are hereby incorporated herein by reference and and, a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth forth, in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this [certificate/Direct Registration Advice]. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days, after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at and after the date hereof Record Time, and certificates representing trust units of Pembina Pipeline Income Fund or securities of other predecessor entities of the Corporation that have not been exchanged for certificates representing Common Shares following the Effective Time, shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following form: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder Rights Plan Agreement, dated as of the 3rd 9th day of AugustJuly, 20072012, as amended from time to time (the "“Rights Agreement"”), between MAG Silver Corp. Platinum Group Metals Ltd (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's ’s securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a (i) the legend set forth in substantially Section 2.1 of the Original Plan, or the legend set forth in Section 2.1 of the Amended and Restated Shareholder Rights Plan Agreement dated May 2, 2002, or the legend set forth in section 2.1 of the Amended and Restated Shareholder Rights Plan Agreement dated April 27, 2005, which legends shall be deemed to be amended for all purposes to read the same as the following formlegend, or (ii) the following legend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the an Amended and Restated Shareholder Rights Plan Agreement, Agreement dated as of April 29, 2008 (amending and restating the 3rd day of AugustAmended and Restated Shareholder Rights Plan Agreement dated April 27, 20072005), as amended such may from time to time be amended, restated, varied or replaced (the "Rights Agreement"), between MAG Silver Corp. Nexen Inc. (the "Corporation") and Computershare Investor Services Inc., CIBC Mellon Trust Company as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "Beneficially Owned" by an "Acquiring Person", as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, after the date Record Time hereof but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and shall have impressed onimpressed, printed onprinted, or written on thereon or otherwise affixed to them thereto a legend in substantially the following form: “Until the Separation Time (as such term is defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the Shareholder a Rights Plan Agreement, Agreement dated effective as of the 3rd day of AugustDecember 11, 2007, as amended from time to time 2006 (the "“Rights Agreement"”), between MAG Silver Corp. Northern Dynasty Minerals Ltd. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices of the Corporation. Under certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, amended or redeemed, may expire, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a “Person” who is or becomes an "“Acquiring Person"” or any Person acting jointly or in concert with an Acquiring Person or with an “Affiliate” or “Associate” of an “Acquiring Person”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable within five days after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of a legend in substantially the foregoing legend form until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for representing the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall also evidence one Right for each Common Share represented thereby and shall have impressed on, printed on, written on or otherwise affixed to them a the legend set forth in substantially Section 2.1 of the 2007 Amended and Restated Agreement (which such legend shall be deemed for all purposes to be amended to read the same as set forth below), but Common Share certificates issued after the Amendment Date but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall have impressed on, printed on, written on, or otherwise affixed to them the following formlegend: “Until the Separation Time (as such term is defined in the Amended and Restated Shareholder Rights Plan Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights rights as set forth in the amended and restated shareholder rights plan agreement (the “Amended and Restated Shareholder Rights Plan Agreement, ”) dated as of the 3rd day of AugustJuly 9, 2007, as amended from time to time (the "Rights Agreement"), 2013 between MAG Silver PolyMet Mining Corp. (the "“Corporation"”) and Computershare Investor Services Inc., as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices office of the Corporation. Under certain circumstances, circumstances as set forth in the Amended and Restated Shareholder Rights Plan Agreement, such Rights may be amended, redeemedredeemed or exchanged, may expire, may lapse, may become null and void (if, in certain casescircumstances, they are "“Beneficially Owned" ” by a Person who is or becomes an "“Acquiring Person"”, as such terms are defined in the Amended and Restated Shareholder Rights Plan Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Amended and Restated Shareholder Rights Plan Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. .” Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Amendment Date, as the case may be, shall also evidence one Right for each Common Share evidenced thereby thereby, notwithstanding the absence of the foregoing legend legend, until the close of business on the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.

Legend on Common Share Certificates. (a) Certificates issued for the Common Shares, including without limitation Common Shares issued upon the exercise, conversion or exchange of Convertible Securities, issued after the date hereof Record Time but prior to the close of business on the earlier of the Separation Time and the Expiration Time shall evidence one Right for each Common Share represented thereby and and, commencing as soon as reasonably practicable after the Record Time, shall have impressed on, printed on, written on or otherwise affixed to them a legend in substantially the following formlegend: Until the Separation Time (as defined in the Rights Agreement referred to below), this certificate also evidences and entitles the holder hereof to certain Rights as set forth in the a Shareholder Rights Plan Agreement, Agreement dated as of the 3rd day of AugustJune 9, 20072010, as amended such may from time to time be amended, restated, varied or replaced (the "“Rights Agreement"”), between MAG Silver Algonquin Power & Utilities Corp. (the "“Corporation"”) and Computershare Investor Services Inc., CIBC Mellon Trust Company as Rights Agent, the terms of which are hereby incorporated herein by reference and a copy of which is on file and may be inspected during normal business hours at the principal executive offices registered office of the Corporation. Under In certain circumstances, as set forth in the Rights Agreement, such Rights may be amended, redeemed, may expire, may become null and void (if, in certain cases, they are "“Beneficially Owned" ” by an "“Acquiring Person"”, as such terms are defined in the Rights Agreement, or a transferee thereof) or may be evidenced by separate certificates and may no longer be evidenced by this certificate. The Corporation will mail or arrange for the mailing of a copy of the Rights Agreement to the holder of this certificate without charge as soon as is reasonably practicable after the receipt of a written request therefor. Certificates representing Common Shares that are issued and outstanding as at the date hereof Record Time or the Effective Date shall evidence one Right for each Common Share evidenced thereby notwithstanding the absence of the foregoing legend legend, until the earlier of the Separation Time and the Expiration Time. (b) Registered holders of Common Shares who have not received a share certificate and are entitled to do so on the earlier of the Separation Time and the Expiration Time shall be entitled to Rights as if such certificates had been issued and such Rights shall for all purposes hereof be evidenced by the corresponding entries on the Corporation's securities registers for the Common Shares.