وَيَجْهَرُ بِالْقِرَاءَةِ فِي الْفَجْرِ وَفِي الرَّكْعَتَيْنِ الْأُولَيَيْنِ مِنَ الْمَغْرِبِ وَالْعِشَاءِ إِنْ كَانَ إِمَامًا،
Meaning: If he is the imam, he recites audibly in Fajr and in the first two rakahs of Maghrib and Isha.
The expression “the first two rakahs” limits the audible recitation in the latter prayers.