SSR MINING INC

Çöpler, Türkiye

(1)Operations at Çöpler were suspended on February 13, 2024 following the Çöpler Incident and have not restarted.

(3)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 is the comparable GAAP financial measure.

Operations were suspended following the Çöpler Incident on February 13, 2024 and resulted in a decrease in gold production and gold sold of 87.2% and 86.5% respectively. Care and maintenance expense of $108.7 million was recorded which represents direct costs not associated with the environmental reclamation and remediation costs and depreciation.

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 Cost of sales, which is the comparable GAAP financial measure.

Gold production decreased 39.6% due to lower grade ore stacked, partially offset by more ore tonnes stacked. Revenue decreased by $129.2 million or 24.0%, of which $211.0 million was the result of fewer gold ounces sold partially offset by a $81.8 million increase due to higher average realized gold price in 2024. Cost of sales decreased by $44.8 million, or 15.5%, due to fewer gold ounces sold, partially offset by higher mining costs as a result of more tonnes mined, as well as higher royalty expense due to higher gold prices. Cost of sales per ounce of gold sold and cash costs per ounce of gold sold increased 39.2% and 39.1%, respectively, due to lower grade ore stacked. AISC per ounce of gold sold increased 26.8% due to higher cash costs per ounce of gold sold, partially offset by lower sustaining capital expenditures compared to 2023, which reflected the purchase of four haul trucks.

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 is the comparable GAAP financial measure.

Gold production decreased 13.5% due to fewer ore tonnes milled, partially offset by higher mill feed grade. Gold sold exceeded gold production due to the timing of sales of finished goods inventory. Revenue increased by $27.4 million, or 16.7%, of which $32.2 million was a result of higher average realized gold price partially offset by $4.8 million due to fewer gold ounces sold. Cost of sales decreased by $5.1 million, or 6.1%, as a result of fewer gold ounces sold. Cost of sales per ounce of gold sold and cash costs per ounce of gold sold decreased 3.1% and 3.1%, respectively, due to higher grade ore milled. AISC per ounce of gold sold increased 6.2% due to care and maintenance expenses incurred during the temporary suspension of operations due to forest fires near the mine during the third quarter of 2024.

Puna, Argentina

(1)Gold equivalent ounces are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include by-products in the gold equivalent ounce calculations.

(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 is the comparable GAAP financial measure.

Silver production increased 8.4% due to more ore tonnes milled. Silver sold decreased 2.8% due to the timing of concentrate sales attributable to transportation delays at the end of 2024, which resulted in a buildup of finished goods inventory. Revenue increased by $48.6 million, or 17.2%, of which $61.8 million was a result of higher average realized silver and zinc prices, partially offset by $3.0 million as a result of lower average realized lead price and $10.0 million due to lower volume of concentrate sold. Cost of sales decreased by $7.9 million, or 4.8%, due to a lower strip ratio and fewer silver ounces sold. Cost of sales per ounce of silver sold remained consistent period over period. Cash costs per ounce of silver sold decreased 7.9% due to the decrease in cost of sales per ounce of silver sold discussed above and lower treatment and refining charges. AISC per ounce of silver sold increased 1.2% due to higher sustaining capital expenditures and reclamation cost accretion and amortization.