SSR MINING INC.

The Company analyzes its liquidity position, taking into consideration its available cash and cash equivalents; expected revenues and operating and capital expenditures; potential penalties and fines, restitution, and legal obligations; estimates of reclamation and remediation related costs; and care and maintenance expenditures at Çöpler over the next twelve months. As of June 30, 2025, the Company had $412.1 million of cash and cash equivalents, and the Company has no borrowings outstanding on the Second Amended Credit Agreement at this time. Each of the Company’s mines operates independently and are not dependent on cash flows or operational synergies. Based on this analysis, the Company believes that its current liquidity position is sufficient to sustain the operational needs of the Company for the next twelve months without needing to borrow under its Second Amended Credit Agreement. The Company may still elect to borrow under the Second Amended Credit Agreement or seek alternate sources of capital for any liquidity needs. All debts, liabilities and obligations under the Second Amended Credit Agreement are guaranteed by the Company’s material subsidiaries and secured by certain of the Company’s assets and material subsidiaries and pledges of the securities of the Company’s material subsidiaries, but does not include the Çöpler assets and subsidiaries and other Alacer entities.

To borrow under the Second Amended Credit Agreement, the Company will be required to satisfy certain financial ratios related to interest coverage and net leverage and make certain representations and warranties on a quarterly basis, including assessing financial ratios over a twelve-month period. Subject to the timing of any borrowings we may make under the Second Amended Credit Agreement, if any, we may be required to seek an amendment from the lenders to permit borrowings if we cannot meet the financial ratios or other requirements due to lower cash flows resulting from the Çöpler Incident or otherwise. As of June 30, 2025, the Company was in compliance with its covenants.

The Company manages its liquidity risk through the planning, budgeting and forecasting process, which is reviewed and updated on a regular basis, to help determine the funding requirements to support its current operations, expansion and development plans, and by managing its capital structure.

Cash and Cash Equivalents

At June 30, 2025, the Company had $412.1 million of cash and cash equivalents, a increase of $24.2 million from December 31, 2024. Refer to the Cash Flows section below for additional detail of the Company’s cash flow activities. The Company held $355.7 million of its cash and cash equivalents balance in USD. Additionally, the Company held cash and cash equivalents of $47.9 million, $5.6 million and $2.8 million in ARS, CAD and TRY, respectively.

The Company maintains cash balances at banking institutions in various jurisdictions which may or may not have deposit insurance. The Company mitigates potential cash risk by maintaining bank accounts with credit-worthy financial institutions. All cash is invested in short-term investments or high interest savings accounts in accordance with the Company’s investment policy with original maturities of 90 days or less, providing the Company with sufficient liquidity to meet its foreseeable capital needs.

Debt

The 2019 Notes were reclassified from Debt, non-current to Current portion of debt in the Condensed Consolidated Financial Statements as of June 30, 2025 due to the holder right of redemption at par plus accrued and unpaid interest, which is payable on April 1, 2026 following a twenty business day notice period. Refer to Part II, Item 8, Note 20 in the Annual Report on Form 10-K for further details.

Cash Dividends

During the three and six months ended June 30, 2025 and 2024, the Company declared no dividends.

Cash Flows

The following table summarizes the Company's cash flow activity forsix months ended June 30:

Cash provided by operating activities

For the six months ended June 30, 2025, cash provided by (used in) operating activities was $242.6 million compared to $(53.5) million for the six months ended June 30, 2024. The change in cash provided by (used in) operating activities is primarily due to $307.0 million increase in revenues attributable to 45.9% higher average realized gold price and 29.8% increase in gold ounces sold, and $44.4 million of business interruption insurance proceeds received associated with the Çöpler Incident.

Cash used in investing activities

For the six months ended June 30, 2025, cash used in investing activities was $222.8 million compared to $68.5 million for the six months ended June 30, 2024. The increase of $154.3 million of cash used in investing activities is primarily due to the $108.7 million used for the acquisition of CC&V, $32.8 million in higher capital expenditures, and $42.1 million in increased purchases of marketable securities. The increases were partially offset by $33.2 million in higher net proceeds from the sale of marketable securities when compared to the six months ended June 30, 2024.

Cash provided by (used in) financing activities

For the six months ended June 30, 2025, cash provided by (used in) financing activities was $10.5 million compared to $(9.3) million for the six months ended June 30, 2024. The change in cash provided by (used in) financing activities was primarily due to an increase of $9.5 million of proceeds from related party debt and a $9.8 million decrease in the purchases and cancellation of common shares in 2025 as compared to 2024.

Contractual Obligations

Except as discussed below, there have been no material changes in the Company’s contractual obligations since December 31, 2024.

During thesix months ended June 30, 2025, the Company became liable for milestone-based payments totaling up to $175.0 million in connection with the acquisition of CC&V. Refer to Note 3 of the Condensed Consolidated Financial Statements for further details regarding the CC&V acquisition.

Refer to Part II, Item 7 in the Annual Report on Form 10-K for information regarding the Company’s contractual obligations.