SSR MINING INC

Çöpler, Türkiye

(2)The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Çöpler. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. For the year ended December 31, 2023 and 2022, cash costs and AISC per ounce of gold sold exclude the impact of any fair value adjustment on acquired inventories. For the year ended December 31, 2021, cash costs and AISC per ounce of gold sold include the impact of any fair value adjustment on acquired inventories.

Gold production increased 15.5% due to the temporary suspension of operations that occurred during the year ended December 31, 2022, partially offset by lower grade sulfide ore milled during 2023. Revenue increased by $87.3 million, or 24.6%, of which $60.4 million was the result of an increase in gold ounces sold and $26.9 million was the result of higher average realized gold price. Cost of sales increased by $78.8 million, or 41.5%, as a result of higher gold ounces sold and contracted mining costs; community donations; consumption of raw materials and consumables; and net realizable value adjustments on leach pad inventory. Cost of sales per ounce of gold sold and cash costs per ounce of gold sold increased 20.9% and 21.3%, resp ectively, due to higher cost of sales as discussed above and lower grade sulfide ore milled. AISC per ounce of gold sold increased 7.9% due to higher cash costs per ounce of gold sold and higher sustaining capital expenditures, partially offset by care and maintenance costs incurred during the temporary suspension of operations in the three months ended September 30, 2022.

Marigold, USA

(2)The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Marigold. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to production costs, which are the comparable GAAP financial measure.

Gold production increased 43.1% due to additional tonnes stacked and improved timing of leach recoveries compared to the year ended December 31, 2022, when delays in the leaching cycle occurred due to fines in the ore from the north pits. Revenue increased by $189.4 million or 54.3%, of which $143.2 million was the result of more gold ounces sold and $46.2 million was the result of higher average realized gold price in 2023. Cost of sales increased by $83.0 million, or 40.3%, due to additional gold ounces sold. Cost of sales per ounce of gold sold, cash costs per ounce of gold sold and AISC per ounce of gold sold remained consistent period over period.

Seabee, Canada

(2)The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of gold sold to manage and evaluate operating performance at Seabee. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure.

Gold production decreased 33.3% due to lower grade ore milled and lower recoveries during 2023. Revenue decreased by $80.3 million, or 32.8%, of which $91.3 million was the result of lower volume of gold sold partially offset by a $11.0 million increase as a result of higher average realized gold price. Cost of sales increased by $8.2 million, or 11.0%, as a result of higher employee-related costs, transportation costs, mobile maintenance costs, and utilization of contractors for winter road construction. Cost of sales per ounce of gold sold, cash costs per ounce of gold sold, and AISC per ounce of gold sold increased 77.3%, 76.8%, and 73.4% respectively, due to fewer gold ounces sold as the result of lower mill feed grade and higher cost of sales.

Puna, Argentina

(1)Gold equivalent ounces are calculated using the silver ounces produced or sold multiplied by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include copper, lead, or zinc as they are considered by-products.

(3)The Company reports the non-GAAP financial measures of cash costs and AISC per ounce of silver sold to manage and evaluate operating performance at Puna. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure.

Silver production increased 15.4% due to higher mill throughput and higher grade ore milled. Silver sold increased 26.1% due to the timing of concentrate shipments. Revenue increased by $82.5 million, or 41.3%, of which $51.4 million was the result of higher volume of concentrate sold and $36.7 million was the result of higher average realized silver and lead price, partially offset by a $5.6 million decrease as a result of lower average realized zinc price. Cost of sales increased by $26.1 million, or 19.0%, as a result of more silver ounces sold. Cost of sales and cash costs per ounce of silver sold decreased by 5.7% and 4.5%, respectively, due to higher grade ore milled. AISC per ounce of silver sold remained consistent period over period.