SSR MINING INC.

Previous wording

During the second quarter of 2025, the Company temporarily suspended operations at Seabee for approximately two weeks due to power interruptions caused by forest fires to the north of the mine. The Company resumed operations on June 13, 2025 with no damage to the Company’s property.

Current wording

During the second quarter of 2025, the Company temporarily suspended operations at Seabee for approximately two weeks due to power interruptions caused by forest fires to the north of the mine. The Company resumed operations on June 13, 2025.

Previous wording

Refer to the “Consolidation Results of Operations”, “Results of Operations”, “Liquidity and Capital Resources” and “Non-GAAP Financial Measures” for information for the six months ended June 30, 2025.

Current wording

Refer to the “Consolidation Results of Operations”, “Results of Operations”, “Liquidity and Capital Resources” and “Non-GAAP Financial Measures” for information for the nine months ended September 30, 2025.

Previous wording

A summary of the Company's consolidated financial and operating results for the three and six months ended June 30, 2025 and 2024 are presented below (in thousands):

Current wording

A summary of the Company's consolidated financial and operating results for the three and nine months ended September 30, 2025 and 2024 are presented below (in thousands):

Previous wording

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

Current wording

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

Previous wording

For the three months ended June 30, 2025, revenue increased by $220.6 million, or 119.4%, to $405.5 million, as compared to $184.8 million for the three months ended June 30, 2024. The increase was primarily due to a 124.2% increase in gold ounces sold, or $119.5 million, a 40.3% increase in average realized gold price, or $87.0 million, and a 16.6% increase in realized silver price, or $12.7 million. The increase in gold ounces sold was attributable to the acquisition of CC&V and sales at Marigold. For a discussion of revenue by segment, refer to the Results of Operations below.

Current wording

Revenue increased by $128.5 million, or 49.9%, to $385.8 million, for the three months ended September 30, 2025 as compared to $257.4 million for the three months ended September 30, 2024. The increase was primarily due to a 38.4% increase in average realized gold price, or $72.2 million, a 39.5% increase in realized silver price, or $31.5 million, and a 17.8% increase in gold ounces sold, or $28.4 million, partially offset by a 4.6% decrease in silver ounces sold, or $3.8 million. The increase in gold ounces sold was attributable to the acquisition of CC&V, partially offset by fewer gold ounces sold at the other sites. For a discussion of revenue by segment, refer to the Results of Operations below.

Previous wording

For the six months ended June 30, 2025, revenue increased by $307.0 million, or 74.0%, to $722.1 million, as compared to $415.1 million for the six months ended June 30, 2024. The increase was primarily due to a 45.9% higher average realized gold price, or $167.0 million, 29.8% more gold ounces sold, or $83.6 million, a 25.5% higher average realized silver price, or $33.8 million, and 18.3% more silver ounces sold, or $20.6 million. The increase in gold ounces sold was attributable to the acquisition of CC&V and sales at Marigold and Puna. For a discussion of revenue by segment, refer to the Results of Operations below.

Current wording

Revenue increased by $435.5 million, or 64.8%, to $1,107.9 million, for the nine months ended September 30, 2025 as compared to $672.4 million for the nine months ended September 30, 2024. The increase was primarily due to a 42.9% higher average realized gold price, or $237.4 million, 25.9%, higher gold ounces sold, or $113.9 million, a 30.1% higher average realized silver price, or $64.2 million, and a 9.1% increase in silver ounces sold, or $17.9 million. The increase in gold ounces sold was attributable to the acquisition of CC&V and higher sales at Marigold, partially offset by fewer gold ounces sold at Seabee and Çöpler. For a discussion of revenue by segment, refer to the Results of Operations below.

Previous wording

Cost of sales increased by $66.4 million, or 68.7%, to $162.9 million for the three months ended June 30, 2025, as compared to $96.6 million for the three months ended June 30, 2024. The increase was primarily due to the acquisition of CC&V and higher cost of sales at Marigold due to more ounces sold. For a discussion of cost of sales by segment, refer to the Results of Operations below.

Current wording

Cost of sales increased by $27.4 million, or 19.8%, to $165.7 million for the three months ended September 30, 2025, as compared to $138.3 million for the three months ended September 30, 2024. The increase was primarily due to the acquisition of CC&V, partially offset by lower cost of sales at Marigold. For a discussion of cost of sales by segment, refer to the Results of Operations below.

Previous wording

Cost of sales increased by $77.1 million, or 34.7%, to $299.6 million for the six months ended June 30, 2025, as compared to $222.5 million for the six months ended June 30, 2024. The increase was primarily due to the acquisition of CC&V and higher cost of sales at Marigold and Puna due to more ounces sold, partially offset by a decrease in cost of sales at Çöpler due to the suspension of operations following the Çöpler Incident. For a discussion of cost of sales by segment, refer to the Results of Operations below.

Current wording

Cost of sales increased by $104.5 million, or 29.0%, to $465.3 million for the nine months ended September 30, 2025, as compared to $360.8 million for the nine months ended September 30, 2024. The increase was primarily due to the acquisition of CC&V and higher cost of sales at Marigold and Puna, partially offset by a decrease in cost of sales at Çöpler due to the suspension of operations following the Çöpler Incident. For a discussion of cost of sales by segment, refer to the Results of Operations below.

Previous wording

DD&A expense decreased by $4.6 million, or 7.4%, to $56.9 million for the six months ended June 30, 2025, as compared to $61.4 million for the six months ended June 30, 2024, primarily due to the suspension of operations at Çöpler following the Çöpler Incident partially offset by the acquisition of CC&V.

Current wording

Depreciation, depletion, and amortization decreased by $6.8 million, or 7.4%, to $85.1 million for the nine months ended September 30, 2025, as compared to $91.9 million for the nine months ended September 30, 2024, primarily due to the suspension of operations at Çöpler following the Çöpler Incident, partially offset by the acquisition of CC&V.

Previous wording

General and administrative expense for the six months ended June 30, 2025 was $50.5 million as compared to $26.3 million for the six months ended June 30, 2024. General and administrative expenses increased primarily due to an increase in share based compensation expense attributable to higher share prices in 2025.

Current wording

General and administrative expense for the three months ended September 30, 2025 was $40.2 million as compared to $19.0 million for the three months ended September 30, 2024. General and administrative expenses increased primarily due to a $19.8 million increase in share based compensation expense attributable to higher share prices in 2025.

Previous wording

General and administrative expense for the three months ended June 30, 2025 was $26.6 million as compared to $13.5 million for the three months ended June 30, 2024. General and administrative expenses increased primarily due to a $5.6 million increase in employee compensation expense and a $5.4 million increase in share based compensation expense attributable to higher share prices in 2025.

Current wording

General and administrative expense for the nine months ended September 30, 2025 was $90.8 million as compared to $45.3 million for the nine months ended September 30, 2024. General and administrative expenses increased primarily due to a $38.7 million increase in share based compensation expense attributable to higher share prices in 2025 and a $4.5 million increase in employee compensation expense.

Previous wording

Exploration and evaluation costs for the three months ended June 30, 2025 were $6.8 million compared to $11.3 million for three months ended June 30, 2024. Exploration and evaluation costs for the six months ended June 30, 2025 were $13.7 million compared to $21.5 million for six months ended June 30, 2024. Exploration and evaluation costs were lower due to reduced drilling activity during 2025 as compared to 2024. Exploration expenditures were focused on drilling activities at the Porky and Santoy mine areas at Seabee and Trenton Canyon at Marigold.

Current wording

Exploration and evaluation costs for the three months ended September 30, 2025 were $10.4 million compared to $11.4 million for three months ended September 30, 2024. Exploration and evaluation costs for the nine months ended September 30, 2025 were $24.0 million compared to $32.9 million for nine months ended September 30, 2024. Exploration and evaluation costs were lower due to reduced exploration drilling during 2025 as compared to 2024. Exploration and evaluation costs were focused on drilling activities at the Porky and Santoy mine areas at Seabee, and Cortaderas at Puna.

Previous wording

Reclamation and remediation costs for the three months ended June 30, 2025 were $69.9 million as compared to $2.4 million for the three months ended June 30, 2024. Reclamation and remediation costs increased by $67.5 million primarily due to the Company revising its estimate related to the Çöpler heap leach pad during the second quarter of 2025. The revision in estimate reflects the Company's advancement of engineering designs for the construction of the permanent storage facility and closure studies for the heap leach pad during the second quarter of 2025. See Note 6 to the Condensed Consolidated Financial Statements for further details.

Current wording

Reclamation and remediation costs for the nine months ended September 30, 2025 were $81.3 million as compared to $280.1 million for the nine months ended September 30, 2024. For the nine months ended September 30, 2025, reclamation and remediation costs were primarily related to the Company revising its estimate related to the Çöpler heap leach pad during the second quarter of 2025. The revision in estimate reflects the Company's advancement of engineering designs for the construction of the permanent storage facility and closure studies for the heap leach pad during the second quarter of 2025. See Note 6 to the Condensed Consolidated Financial Statements for further details. For the nine months ended September 30, 2024, reclamation and remediation costs were primarily related to reclamation and remediation costs related to the Çöpler Incident.

Previous wording

Impairment charges for the six months ended June 30, 2025 were nil compared to $114.2 million for the six months ended June 30, 2024. Impairment charges of long-lived and other assets for the six months ended June 30, 2024 represent non-cash impairment charges of the heap leach pad inventory and related heap leach facilities due to the decommissioning of the heap leach as the result of the Çöpler Incident.

Current wording

Impairment charges for the nine months ended September 30, 2025 were nil compared to $114.6 million for the nine months ended September 30, 2024. Impairment charges of long-lived and other assets for the nine months ended September 30, 2024 represent non-cash impairment charges of the heap leach pad inventory and related heap leach facilities due to the decommissioning of the heap leach due to the Çöpler Incident.

Previous wording

Care and maintenance costs for the three months ended June 30, 2025 were $37.7 million as compared to $30.6 million for the three months ended June 30, 2024. Care and maintenance expense incurred during the second quarter of 2025 represents direct costs not associated with environmental reclamation and remediation costs of $22.0 million and depreciation of $15.7 million during the suspension of operations at Çöpler and the temporary suspension of operations at Seabee during the second quarter of 2025.

Current wording

Care and maintenance costs for the three months ended September 30, 2025 were $37.3 million as compared to $39.4 million for the three months ended September 30, 2024. Care and maintenance expense incurred during the third quarter of 2025 represents $22.4 million of direct costs, excluding costs associated with environmental reclamation and remediation, and $14.9 million of depreciation incurred during the suspension of operations at Çöpler.

Previous wording

Care and maintenance costs for the six months ended June 30, 2025 were $73.5 million as compared to $45.0 million for the six months ended June 30, 2024. Care and maintenance expense incurred during 2025 represents direct costs not associated with environmental reclamation and remediation costs of $42.6 million and depreciation of $30.9 million during the suspension of operations at Çöpler and temporary suspension of operations at Seabee during the second quarter of 2025.

Current wording

Care and maintenance costs for the nine months ended September 30, 2025 were $110.8 million as compared to $84.3 million for the nine months ended September 30, 2024. Care and maintenance expense incurred during 2025 represents $64.9 million of direct costs, excluding costs associated with environmental reclamation and remediation, and $45.9 million of depreciation incurred during the suspension of operations at Çöpler and temporary suspension of operations at Seabee during the second quarter of 2025.

Previous wording

Other operating expense (income), net for the three months ended June 30, 2025 was $(33.6) million as compared to $(3.1) million for the three months ended June 30, 2024. The change is primarily due to the receipt of $44.4 million of business interruption insurance proceeds associated with the Çöpler Incident, partially offset by a $6.0 million change in (gain) loss on sale of assets, $5.0 million of CC&V transaction and integration costs, and $2.0 million of change in fair value of contingent consideration.

Current wording

Other operating expense (income), net for the nine months ended September 30, 2025 was $(8.5) million as compared to $19.2 million for the nine months ended September 30, 2024. The change is due to the receipt of $44.4 million of insurance proceeds associated with the Çöpler Incident, $13.0 million lower contingencies and expenses related to the Çöpler Incident, partially offset by $19.0 million of transaction and integration costs related to CC&V, a $6.7 million change in gain (loss) on sale and disposal of assets, and a $5.6 million of change in fair value of contingent consideration.

Previous wording

Interest expense for the three months ended June 30, 2025 was $4.2 million as compared to $2.1 million for the three months ended June 30, 2024. Interest expense for the six months ended June 30, 2025 was $7.6 million as compared to $6.8 million for the six months ended June 30, 2024. The increases were primarily due to higher debt balances outstanding during 2025.

Current wording

Interest expense for the three months ended September 30, 2025 was $3.6 million as compared to $2.9 million for the three months ended September 30, 2024. Interest expense for the nine months ended September 30, 2025 was $11.2 million as compared to $9.7 million for the nine months ended September 30, 2024. The increases were primarily due to higher related debt balances outstanding during 2025.

Previous wording

Other income (expense) for the six months ended June 30, 2025 was $12.5 million as compared to $8.7 million for the six months ended June 30, 2024. The changes were primarily due to higher gain on investments and marketable securities sales of $3.8 million and changes in the fair value of marketable securities of $2.7 million, partially offset by a decrease in interest income of $3.8 million as a result of lower cash balances.

Current wording

Other income (expense) for the three months ended September 30, 2025 was $5.3 million as compared to $8.6 million for the three months ended September 30, 2024. The decrease was primarily due to a $3.7 million change in the fair value of contingent and deferred consideration, a $2.7 million decrease in change in fair value of marketable securities, and a lower interest income of $0.7 million, partially offset by an increase in the gain on marketable securities sales of $5.3 million.

Previous wording

Foreign exchange loss for the three months ended June 30, 2025 was $10.2 million compared to a gain of $0.9 million for the three months ended June 30, 2024. During the three months ended June 30, 2025, the foreign exchange loss was primarily due to the weakening of the ARS against the USD and its impact on ARS-denominated assets.

Current wording

Foreign exchange loss for the three months ended September 30, 2025 was $12.8 million compared to $7.5 million for the three months ended September 30, 2024. During the three months ended September 30, 2025, the foreign exchange loss was primarily due to the weakening of the ARS against the USD and its impact on ARS-denominated assets.

Previous wording

Foreign exchange loss for the six months ended June 30, 2025 was $16.2 million compared to a loss of $37.0 thousand for the six months ended June 30, 2024. During the six months ended June 30, 2025, the change in foreign exchange loss was primarily due to the weakening of the ARS against the USD and its impact on ARS-denominated assets.

Current wording

Foreign exchange loss for the nine months ended September 30, 2025 was $29.1 million compared to $7.6 million for the nine months ended September 30, 2024. During the nine months ended September 30, 2025, the change in foreign exchange loss was primarily due to the weakening of the ARS against the USD and its impact on ARS-denominated assets.

Previous wording

Income and mining tax expense for the three months ended June 30, 2025 was $20.2 million as compared to an expense of $11.7 million for the three months ended June 30, 2024. The change in income tax expense was primarily due to higher quarter-to-date operating income compared to 2024 partially offset by lower additions to the valuation allowance.

Current wording

Income and mining tax expense for the three months ended September 30, 2025 was $15.0 million as compared to an expense of $0.9 million for the three months ended September 30, 2024. The change in income tax expense was primarily due to higher quarter-to-date operating income compared to 2024, partially offset by increased deferred tax benefits resulting from foreign currency fluctuations.

Previous wording

Income and mining tax expense for the six months ended June 30, 2025 was $29.4 million as compared to a benefit of $8.5 million for the six months ended June 30, 2024. The change in income tax expense was primarily due to higher year-to-date operating income compared to 2024 partially offset by lower additions to the valuation allowance.

Current wording

Income and mining tax expense for the nine months ended September 30, 2025 was $44.3 million as compared to a benefit of $7.6 million for the nine months ended September 30, 2024. The change in income tax expense was primarily due to higher year-to-date operating income compared to 2024, partially offset by lower additions to the valuation allowance.