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SSR MINING INC.

For the period ended Dec 31, 2025. Filed Feb 17, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 17, 2026

SSRM$29.67+4.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 7. Results of Operations

Çöpler, Türkiye

Year Ended December 31, · Change
Operating Data (1)2025202420232025 (%)2024 (%)
Gold produced (oz)—28,206220,999(100.0)%(87.2)%
Gold sold (oz)—30,382225,599(100.0)%(86.5)%
Average realized gold price ($/oz sold)$—$2,103$1,945(100.0)%8.1%
Ore mined (kt)—2664,501(100.0)%(94.1)%
Waste removed (kt)—3,57125,197(100.0)%(85.8)%
Total material mined (kt)—3,83729,698(100.0)%(87.1)%
Ore milled (kt)—3432,733(100.0)%(87.4)%
Gold mill feed grade (g/t)—2.392.56(100.0)%(6.6)%
Gold recovery (%)—78.987.5(100.0)%(9.8)%
Ore stacked (kt)—184813(100.0)%(77.4)%
Gold grade stacked (g/t)—1.171.36(100.0)%(14.0)%
Cost of sales (2)$—$36,215$268,628(100.0)%(86.5)%
Cost of sales ($/oz gold sold) (2)$N/A$1,192$1,191N/A0.1%
Cash costs ($/oz gold sold) (3)$N/A$1,222$1,175N/A4.0%
AISC ($/oz gold sold) (3)$N/A$3,814$1,433N/A166.2%

(1)Operations at Çöpler were suspended on February 13, 2024 following the Çöpler Incident and have not restarted. As a result, operating data for the year ended December 31, 2025 are null.

(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. Care and maintenance expense of $150.8 million was recorded which represents direct costs, excluding costs associated with environmental reclamation and remediation, and depreciation.

Marigold, USA

Year Ended December 31, · Change
Operating Data2025202420232025 (%)2024 (%)
Gold produced (oz)153,535168,262278,488(8.8)%(39.6)%
Gold sold (oz)154,024167,669275,962(8.1)%(39.2)%
Average realized gold price ($/oz sold)$3,509$2,438$1,95043.9%25.0%
Ore mined (kt)19,32127,69021,846(30.2)%26.8%
Waste removed (kt)79,09172,02874,8009.8%(3.7)%
Total material mined (kt)98,41299,71896,646(1.3)%3.2%
Ore stacked (kt)19,32127,69021,846(30.2)%26.8%
Gold grade stacked (g/t)0.390.280.4539.3%(37.8)%
Cost of sales (1)$251,833$244,312$289,0633.1%(15.5)%
Cost of sales ($/oz gold sold) (1)$1,635$1,457$1,04712.2%39.2%
Cash costs ($/oz gold sold) (2)$1,636$1,459$1,04912.1%39.1%
AISC ($/oz gold sold) (2)$1,918$1,711$1,34912.1%26.8%

(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 8.8% due to fewer ore tonnes stacked, partially offset by higher gold grade stacked. Revenue increased by $131.5 million, or 32.2%, of which $165.0 million was due to higher average realized gold price in 2025, partially offset by $33.4 million as a result of fewer gold ounces sold. Cost of sales remained consistent period over period. Cost of sales per ounce of gold sold and cash costs per ounce of gold sold increased 12.2% and 12.1%, respectively, due to higher royalty expense resulting from higher average realized gold prices during 2025 and fewer ounces sold. AISC per ounce of gold sold increased 12.1% due to higher cash costs per ounce of gold sold.

Cripple Creek & Victor, USA

Year Ended December 31,
Operating Data (1)2025
Gold produced (oz)124,557
Gold sold (oz)123,510
Average realized gold price ($/oz sold)$3,635
Ore mined (kt)17,658
Waste removed (kt)13,265
Total material mined (kt)30,923
Ore stacked (kt)17,829
Gold grade stacked (g/t)0.42
Cost of sales (2)$157,397
Cost of sales ($/oz gold sold) (2)$1,274
Cash costs ($/oz gold sold) (3)$1,265
AISC ($/oz gold sold) (3)$1,555

(1)The operating data presented represents the period from February 28, 2025 to December 31, 2025, the period for which the Company was entitled to the economic benefits of CC&V following the acquisition.

(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 CC&V. 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.

The Company acquired CC&V on February 28, 2025; accordingly, there were no historical results reported for the year ended December 31, 2024. See Note 3 and Note 4 of the Consolidated Financial Statements for additional information related to CC&V and the CC&V acquisition.

Seabee, Canada

Year Ended December 31, · Change
Operating Data2025 (1)2024 (2)20232025 (%)2024 (%)
Gold produced (oz)54,98678,54590,777(30.0)%(13.5)%
Gold sold (oz)54,00081,07083,610(33.4)%(3.0)%
Average realized gold price ($/oz sold)$3,316$2,362$1,96540.4%20.2%
Ore mined (kt)326365443(10.7)%(17.6)%
Ore milled (kt)331366445(9.6)%(17.8)%
Gold mill feed grade (g/t)5.256.936.62(24.2)%4.7%
Gold recovery (%)96.496.496.7—%(0.3)%
Cost of sales (3)$82,328$77,846$82,8985.8%(6.1)%
Cost of sales ($/oz gold sold) (3)$1,525$960$99158.9%(3.1)%
Cash costs ($/oz sold) (4)$1,525$961$99258.7%(3.1)%
AISC ($/oz sold) (4)$2,231$1,515$1,42747.3%6.2%

(1)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. Seabee resumed operations on June 13, 2025.

(2)On August 21, 2024, the Company temporarily suspended operations at Seabee due to forest fires in the vicinity of the mine. Mining operations resumed at Seabee on October 11, 2024.

(3)Excludes depreciation, depletion, and amortization.

(4)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 30.0% due to fewer ore tonnes milled and lower mill feed grade. Revenue decreased by $12.6 million, or 6.6%, of which $64.1 million was due to fewer gold ounces sold, partially offset by $51.5 million due to higher average realized gold price. Cost of sales increased by $4.5 million, or 5.8%, primarily due to higher milling and site support costs. Cost of sales per ounce of gold sold and cash costs per ounce of gold sold increased 58.9% and 58.7%, respectively, due to lower mill feed grade and fewer ore tonnes milled as a result of unplanned mill maintenance and the temporary suspension of operations. AISC per ounce of gold sold increased 47.3% primarily due to higher cash cost per ounce of gold sold and sustaining capital expenditures, partially offset by lower care and maintenance costs.

Puna, Argentina

Year Ended December 31, · Change
Operating Data2025202420232025 (%)2024 (%)
Silver produced ('000 oz)9,81410,5009,688(6.5)%8.4%
Silver sold ('000 oz)9,6639,6429,9200.2%(2.8)%
Lead produced ('000 lb)45,88153,70345,772(14.6)%17.3%
Lead sold ('000 lb)46,75649,63148,640(5.8)%2.0%
Zinc produced ('000 lb)4,1203,6417,12713.2%(48.9)%
Zinc sold ('000 lb)3,4703,1218,16611.2%(61.8)%
Gold equivalent sold (oz) (1)112,368114,095119,423(1.5)%(4.5)%
Average realized silver price ($/oz)$42.49$29.16$22.8245.7%27.8%
Ore mined (kt)1,8022,3281,926(22.6)%20.9%
Waste removed (kt)6,4065,9006,2408.6%(5.4)%
Total material mined (kt)8,2088,2288,166(0.2)%0.8%
Ore milled (kt)1,9651,8621,7285.5%7.8%
Silver mill feed grade (g/t)161.80180.96181.11(10.6)%(0.1)%
Lead mill feed grade (%)1.141.371.27(16.8)%7.9%
Zinc mill feed grade (%)0.230.200.3415.0%(41.2)%
Silver recovery (%)96.096.996.3(0.9)%0.6%
Lead recovery (%)93.295.694.3(2.5)%1.4%
Zinc recovery (%)40.944.254.6(7.5)%(19.0)%
Cost of sales (2)$161,745$155,659$163,5583.9%(4.8)%
Cost of sales ($/oz silver sold) (2)$16.74$16.14$16.493.7%(2.1)%
Cost of sales ($/oz gold equivalent sold) (1, 2)$1,439$1,364$1,3705.5%(0.4)%
Cash costs ($/oz silver sold) (3)$11.79$11.64$12.641.3%(7.9)%
Cash costs ($/oz gold equivalent sold) (1, 3)$1,014$984$1,0503.0%(6.3)%
AISC ($/oz silver sold) (3)$14.24$15.56$15.37(8.5)%1.2%
AISC ($/oz gold equivalent sold) (1, 3)$1,225$1,315$1,277(6.8)%3.0%

(1)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.

(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 decreased 6.5% due to lower mill feed grade, partially offset by higher ore tonnes milled. Revenue increased by $129.0 million, or 39%, of which $128.8 million was a result of higher average realized silver price and $0.6 million was due to lower volume of silver concentrate sold. Cost of sales, cost of sales per ounce of silver sold and cash costs per ounce of silver sold remained consistent period over period. AISC per ounce of silver sold decreased 8.5% due to lower sustaining capital and lease related expenditures and lower reclamation cost accretion and amortization.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.