SSR MINING INC.

Previous wording

SSR Mining is a precious metals mining company with five operations located in the United States, Türkiye, Canada and Argentina. The Company is primarily engaged in the operation, acquisition, exploration and development of precious metal resource properties located in Türkiye and the Americas. The Company produces gold doré as well as copper, silver, lead and zinc concentrates.

Current wording

SSR Mining is a precious metals mining company with four operations located in the United States, Canada, and Argentina. The Company is primarily engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company produces gold doré as well as copper, silver, lead and zinc concentrates. The Company’s properties include the Marigold Mine (“Marigold”) in Nevada, USA, the Cripple Creek & Victor Gold Mine (“CC&V”) in Colorado, USA, the Seabee Gold Operation (“Seabee”) in Saskatchewan, Canada, and Puna Operations (“Puna”) in Jujuy, Argentina. The Company also has development projects, including the Hod Maden project (“Hod Maden”) in Türkiye, that it seeks to advance, as market and project conditions permit.

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 nine months ended September 30, 2025.

Current wording

Refer to the “Consolidated Results of Operations”, “Results of Operations”, “Liquidity and Capital Resources” and “Non-GAAP Financial Measures” for information for the three months ended March 31, 2026.

Previous 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):

Current wording

A summary of the Company's consolidated financial and operating results for the three months ended March 31, 2026 and 2025 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 closing commodity prices for the period. The Company does not include by-products in the gold equivalent ounce calculations.

Current wording

(4)Effective January 1, 2026, the Company calculates gold equivalent ounces using a fixed silver-to-gold ratio of 63:1. In prior periods, gold equivalent ounces were calculated by 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. Gold equivalent ounces sold may not recalculate based on amounts presented in this table due to rounding.

Previous 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.

Current wording

Revenue increased by $265.2 million, or 83.7%, to $581.8 million, for the three months ended March 31, 2026 as compared to $316.6 million for the three months ended March 31, 2025. The increase was primarily due to a 62.5% increase in average realized gold price, or $153.9 million, a 182.7% increase in realized silver price, or $108.8 million, and an 8.0% increase in gold ounces sold, or $18.2 million, partially offset by a 22.8% decrease in silver ounces sold, or $17.5 million. The increase in gold ounces sold was attributable to the inclusion of CC&V for the full quarter, partially offset by fewer gold ounces sold at Marigold and Seabee. For a discussion of revenue by segment, refer to the Results of Operations below.

Previous 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.

Current wording

Cost of sales increased by $58.5 million, or 42.8%, to $195.1 million for the three months ended March 31, 2026, as compared to $136.6 million for the three months ended March 31, 2025. The increase was primarily due to the inclusion of CC&V for the full quarter and higher cost of sales at Marigold and Puna, partially offset by lower cost of sales at Seabee. For a discussion of cost of sales by segment, refer to the Results of Operations below.

Previous wording

Other income (expense) for the nine months ended September 30, 2025 was consistent for the nine months ended September 30, 2024.

Current wording

Depreciation, depletion, and amortization was consistent for the three months ended March 31, 2026, compared to the three months ended March 31, 2025.

Previous 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.

Current wording

General and administrative expense for the three months ended March 31, 2026 was $38.5 million as compared to $23.9 million for the three months ended March 31, 2025. General and administrative expenses increased primarily due to an $11.0 million increase in share based compensation expense attributable to higher share prices in 2026, a $2.0 million increase in contractors and outside services expense, and $1.1 million increase in employee compensation expense.

Previous 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.

Current wording

Exploration and evaluation costs for the three months ended March 31, 2026 were $5.3 million compared to $6.0 million for three months ended March 31, 2025. Exploration and evaluation costs were lower primarily due to reduced exploration and evaluation activities at Seabee related to the Porky project, partially offset by increased exploration and evaluation camp costs and drilling activities at the Melina and Cortaderas areas at Puna in 2026 as compared to 2025.

Previous wording

Reclamation and remediation costs for the three months ended September 30, 2025 were $7.1 million as compared to $2.4 million for the three months ended September 30, 2024. Reclamation and remediation costs increased by $4.7 million primarily due to higher reclamation cost accretion expense.

Current wording

Reclamation and remediation costs for the three months ended March 31, 2026 were $6.5 million as compared to $3.7 million for the three months ended March 31, 2025. Reclamation and remediation costs increased by $2.8 million primarily due to higher reclamation accretion expense at CC&V as a result of its inclusion for the full quarter in 2026 compared to 2025.

Previous wording

Other operating expense (income), net for the three months ended September 30, 2025 was $13.6 million as compared to $7.1 million for the three months ended September 30, 2024. The change is primarily due to $7.3 million of CC&V transaction and integration costs and $1.9 million of change in fair value of contingent consideration, partially offset by a $4.3 million decrease in other taxes.

Current wording

Other operating expense (income), net for the three months ended March 31, 2026 were $5.8 million as compared to $9.0 million for the three months ended March 31, 2025. The change is primarily due to $6.8 million higher transaction and integration costs associated with the acquisition of CC&V in the first quarter of 2025, partially offset by a $2.9 million increase in loss on sale and disposal of assets.

Previous 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.

Current wording

Other income (expense) for the three months ended March 31, 2026 was $7.9 million as compared to $6.3 million for the three months ended March 31, 2025. The increase was primarily due to a $2.5 million increase in change in fair value of marketable securities and a higher interest income of $0.2 million, partially offset by a decrease in the gain on marketable securities sales of $1.5 million.

Previous 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.

Current wording

Foreign exchange gain (loss) for the three months ended March 31, 2026 was a $2.9 million gain compared to a $(5.6) million loss for the three months ended March 31, 2025. During the three months ended March 31, 2026, the foreign exchange gain was primarily due to the strengthening 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 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.

Current wording

Income and mining tax expense from continuing operations for the three months ended March 31, 2026 was $59.8 million as compared to $16.4 million for the three months ended March 31, 2025. The change in income tax expense was primarily due to higher quarter-to-date operating income compared to 2025, partially offset by greater deferred tax benefits for excess percentage depletion and foreign derived deduction eligible income.

Previous wording

The Organization for Economic Co-operation and Development (“OECD”) has issued the Global Anti-Base Erosion Model Rules (“Pillar Two”), which generally require multinational organizations to maintain a minimum effective corporate tax rate of 15% in each jurisdiction where they operate. These rules went into effect in 2024. The Company has limited exposure to Pillar Two taxes, as most of its jurisdictions have effective tax rates above 15%. However, the Company may have exposure to taxes under Pillar Two in the range of $0 to $10.0 million for the 2025 year.

Current wording

The Organization for Economic Co-operation and Development (“OECD”) has issued the Global Anti-Base Erosion Model Rules (“Pillar Two”), which generally require multinational organizations to maintain a minimum effective corporate tax rate of 15% in each jurisdiction where they operate. These rules went into effect in 2024. The Company has limited exposure to Pillar Two taxes, as most of its jurisdictions have effective tax rates above 15%. Accordingly, the Company does not expect Pillar Two to have a material adverse impact on its income tax provision for the 2026 year.