SSR MINING INC.

1. THE COMPANY

SSR Mining Inc. and its subsidiaries (collectively, “SSR Mining” or the “Company”) is a precious metals mining company with four operations located in the United States, Canada, and Argentina. The Company is principally 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.

In March 2026, the Company entered into a definitive share purchase agreement to sell the Çöpler Gold Mine (“Çöpler”) and related properties in Türkiye and, as a result, classified the disposal group as held for sale. The results have been presented as discontinued operations in the accompanying Condensed Consolidated Financial Statements. Refer to Note 3 and Note 4 for further details regarding the sale.

SSR Mining is incorporated under the laws of the Province of British Columbia, Canada. The Company's common shares are listed on the Toronto Stock Exchange (“TSX”) in Canada and the Nasdaq Global Select Market (“Nasdaq”) in the U.S. under the symbol “SSRM”.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Risks and Uncertainties

As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, lead and zinc. The prices of these metals are volatile and affected by many factors beyond the Company’s control, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Mineral properties, plant and equipment; Inventories; and Deferred income tax assets are sensitive to the outlook for commodity prices. A decline in the Company’s price outlook could result in material impairment charges related to these assets. In addition, 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. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company's financial condition, results of operations, and cash flows.

The Company's business may be impacted by adverse macroeconomic and geopolitical conditions. These conditions include inflation, interest rate and foreign currency fluctuations and slowdown of economic activity around the world. The Company maintains its cash and cash equivalents primarily in United States dollars (“USD”). Any fluctuation in the exchange rate of the Turkish Lira (“TRY”), Canadian Dollar (“CAD”), Argentine Peso (“ARS”), or the currency of any other country in which the Company operates, against the USD could result in a loss on the Company’s books to the extent the Company holds funds or net monetary or non-monetary assets denominated in those currencies, and any fluctuations of currency prices generally may result in volatility. Certain of the Company's operations are located in countries that have in the past and are currently experiencing high rates of inflation. It is possible that in the future, high inflation in the countries in which we operate may result in an increase in operational costs in local currencies (without a concurrent devaluation of the local currency of operations against the dollar or an increase in the dollar price of gold, silver, copper, zinc or lead). Maintaining operating costs in currencies subject to significant inflation could expose us to risks relating to devaluation and high domestic inflation.

Held for Sale and Discontinued Operations

The Company classifies long-lived assets, or disposal groups comprised of assets and liabilities, as held for sale in the period in which the criteria are met in accordance with Accounting Standards Codification (“ASC”) 360, Property, Plant and Equipment (“ASC 360”). A component of an entity that is classified as held for sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the component exceeds its estimated fair value less cost to sell, a loss is recognized. Any subsequent increase in fair value less costs to sell (not exceeding the accumulated loss that has been previously recognized) is recognized as a reversal of expense. Additional losses may result as the Company continues to evaluate the fair value of assets held for sale and monitors market conditions and other economic factors. Assets and liabilities related to a component classified as held for sale are segregated in the current balance sheets in the period in which the component is classified as held for sale. The Company ceases depreciation and amortization on long-lived assets (or disposal groups) classified as held for sale.

The Company reports the results of operations of a component as discontinued operations if a disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results when the component is classified as held for sale, in accordance with ASC 360, and ASC 205-20, Presentation of Financial Statements - Discontinued Operations (“ASC 205”). The results of discontinued operations are reported in net income (loss) from discontinued operations, net of income taxes in the accompanying Condensed Consolidated Statements of Operations for current and prior periods, including any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell.

Basis of Presentation

The Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and do not include all information and disclosures required by generally accepted accounting principles (“GAAP”) in the United States. Therefore, this information should be read in conjunction with SSR Mining Inc.’s Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed on February 17, 2026. The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. All such adjustments are, in the opinion of management, of a normal recurring nature. The results for the three month periods ended March 31, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.

Reclassifications

Certain reclassifications have been made to the prior period financial information to reflect discontinued operations presentation. Unless otherwise noted, amounts and disclosures throughout these Notes to Condensed Consolidated Financial Statements relate solely to continuing operations and exclude all discontinued operations.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03 “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40).” ASU 2024-03 provides guidance requiring that public business entities to disclose additional information about specific expense categories in the notes to financial statements. The new standard is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027 with early adoption permitted. The ASU 2024-03 should be applied either (1) prospectively to financial statements issued for reporting periods after the effective date, or (2) retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of the standard on the Condensed Consolidated Financial Statements.

3. ACQUISITIONS AND DIVESTITURES

Acquisitions

Acquisition of Cripple Creek and Victor Gold Mine

On February 28, 2025 (“Acquisition Date”), the Company acquired all of the issued and outstanding common shares of CC&V from Newmont Corporation (“Newmont”) in an all-cash deal for $100.0 million in upfront consideration and up to $175.0 million in additional milestone-based payments.

The milestone-based payments include $87.5 million payable upon final approval of the application to amend the CC&V Cresson Permit and $87.5 million payable upon obtaining regulatory relief related to flow-related permitting requirements for the Carlton Tunnel, including steps taken to achieve the highest feasible alternative in relation to Carlton Tunnel water flow. During the first quarter of 2026, the Company completed the payment of $87.5 million to Newmont and was relieved of the contingent payment associated with the Carlton Tunnel. Refer to Note 20 for additional information.

Upon completion of an updated regulator-approved closure plan and in the event the aggregate closure costs at CC&V exceed $500.0 million, the Company will be responsible for funding 10% of the incremental closure costs while Newmont will be responsible for funding 90% of the incremental closure costs, either on an as-incurred basis or pursuant to a lump-sum payment option. The Company will account for this as an indemnification asset under the FASB Accounting Standards Codification Topic 805, Business Combinations, and will recognize an asset for 90% of the aggregated closure costs at CC&V in excess of $500.0 million that Newmont will be responsible for funding, with no limit on the maximum cost. As of the Acquisition Date and March 31, 2026, the Company did not recognize an indemnification asset as the recognition criteria had not been met.

The acquisition of CC&V is accounted for as a business combination which requires the measurement of assets acquired and liabilities assumed at their respective fair values at the Acquisition Date. The Acquisition Date fair value of the consideration transferred consists of the following (in thousands):

(1)Cash consideration is comprised of $100.0 million in upfront cash and a $6.0 million working capital adjustment.

(2)The fair value of the contingent consideration is based on a probability weighted discounted cash flow model. The contingent consideration is considered a Level 3 fair value measurement due to certain assumptions that are not based on observable market data (refer to Note 11 for additional information). The significant assumptions include probability and timing of milestones and discount rates. The range of the undiscounted amounts the Company could be obligated to pay is between $87.5 million and $175.0 million.

The Company retained a third-party valuation specialist to assist in determining the fair value of assets acquired and liabilities assumed. In accordance with the acquisition method of accounting, the purchase price of CC&V has been allocated to the acquired assets and assumed liabilities based on their estimated acquisition date fair values. The fair value estimates were based on income, market and cost valuation methods.

The following table summarizes the final purchase price allocation for the acquisition of CC&V (in thousands):

(1)The fair values of inventories were determined based on a net realizable value (“NRV”) approach, whereby the future estimated cash flows from sales of payable metal produced are adjusted for costs to complete.

(2)The fair value of mineral properties has been estimated using a market approach based on estimated quantities of mineral reserves and mineral resources and in-situ multiples. The fair values of plant and equipment have been estimated using a depreciated replacement cost approach.

(3)The fair value of reclamation costs is based on the expected amounts and timing of cash flows of closure activities and discounted to present value using a credit-adjusted risk-free rate as of the Acquisition Date. Key assumptions include the costs and timing of key closure activities based on the life of mine plans, including estimates and timing of monitoring and water management costs after completion of initial closure activities.

(4)Deferred income tax liabilities represent future tax expense associated with the differences between the fair value allocated to assets and liabilities and the tax basis of those assets and liabilities.

Pro forma financial information

The following unaudited pro forma financial information represents a summary of the historical consolidated results of operations for the three months ended March 31, 2025, giving effect to the acquisition as if it had been completed on January 1, 2024. The pro forma financial information is provided for illustrative purposes only and is not intended to represent what the Company’s financial position or results of operations would have been had the acquisition occurred on the assumed date, nor does it purport to project the future operating results or the financial position of the Company following the acquisition.

The information below reflects certain nonrecurring and recurring pro forma adjustments that were directly related to the acquisition based on available information and certain assumptions that the Company believes are reasonable, including: (i) the changes in depreciation, depletion and amortization reflecting the relative preliminary fair values attributable to mineral properties, plant and equipment, (ii) the changes in cost of sales reflecting the relative preliminary fair values attributable to inventories, (iii) the changes in reclamation and remediation costs reflective of the fair market value of reclamation and remediation liabilities, (iv) the changes in other operating expense (income), net reflective of the preliminary fair values attributable to contingent consideration liabilities, and (v) the estimated tax impacts of the pro forma adjustments.

The following table provides unaudited pro forma financial information for the three months ended March 31, 2025, as if CC&V had been acquired as of January 1, 2024 (in thousands):

(1)For the three months ended March 31, 2025, net income includes $6.8 million of transaction and integration costs.

Divestitures

Divestiture of ownership in the Çöpler Mine

On March 24, 2026, the Company, through its wholly owned subsidiary Alacer Gold Corp. S.à r.l., entered into a share purchase agreement with Cengiz Holding A.S. (“Cengiz Holding”), a corporation organized under the laws of the Republic of Türkiye, to divest its 80% ownership interest in the Çöpler mine and related properties in Türkiye for cash consideration of approximately $1.5 billion, subject to certain post-closing adjustments. This transaction is expected to close in the third quarter of 2026, subject to required Turkish regulatory approvals and other customary closing conditions.

The Company determined that in conjunction with entering into the share purchase agreement, the operations of the Çöpler mine meet the criteria for classification as held for sale and for discontinued operations reporting, as the sale will represent a strategic shift that will have a major effect on our operations and financial results. Accordingly, the assets and liabilities of the Çöpler mine have been classified as held for sale, and the results of operations and cash flows of the Çöpler mine have been presented as discontinued operations in the Condensed Consolidated Financial Statements. Refer to Note 4 for additional information.

4. HELD FOR SALE AND DISCONTINUED OPERATIONS

The following table presents the results of operations for discontinued operations, as reported in the Company’s Condensed Consolidated Statements of Operations for the periods presented (in thousands):

(1)Represents the write-down of the Çöpler disposal group to fair value less costs to sell as of the held for sale date.

(2)For thethree months ended March 31, 2026 and 2025, care and maintenance expense represents $21.7 million and $20.6 million, respectively, of direct costs, excluding costs associated with environmental reclamation and remediation, and $14.9 million and $15.2 million, respectively, of depreciation incurred during the suspension of operations at Çöpler.

The following table presents the major classes of assets and liabilities classified as held for sale, as reported in the Company’s Condensed Consolidated Balance Sheets for the periods presented (in thousands):

(1)The total assets held for sale as of March 31, 2026 and December 31, 2025 include $2,250.7 million and $2,608.7 million, respectively, of assets of VIEs that can only be used to settle the obligations of the VIEs. As of March 31, 2026 and December 31, 2025, the assets include Cash and cash equivalents of $1.3 million and $6.2 million, respectively; Trade and other receivables of $0.1 million andnil, respectively; Inventories, current of $300.8 million and $27.5 million, respectively; Prepaids and other current assets of $6.5 million and $5.2 million, respectively; Mineral properties, plant and equipment, net of $1,942.0 million and $2,294.6 million, respectively; Inventories, non-current ofnil and $274.9 million, respectively; and Other non-current assets ofnil and $0.3 million, respectively. The total liabilities held for sale as of March 31, 2026 and December 31, 2025 include $413.1 million and $437.5 million, respectively, of liabilities of VIEs whose creditors have no recourse to the Company. As of March 31, 2026 and December 31, 2025, the liabilities include Accounts payable of $9.8 million and $11.5 million, respectively; Accrued liabilities and other of $26.1 million and $25.7 million, respectively; Reclamation and remediation liabilities, current of $230.0 million and $25.4 million, respectively; Finance lease liabilities, current of $75.1 million andnil, respectively; Deferred income tax liabilities, current of $72.1 million andnil, respectively; Reclamation and remediation liabilities, non-current ofnil and $207.1 million, respectively; Finance lease liabilities, non-current ofnil and $76.3 million, respectively; Deferred income tax liabilities, non-current ofnil and $88.9 million, respectively; and Other non-current liabilities ofnil and $2.6 million, respectively.

5. OPERATING SEGMENTS

The Company identifies its segments according to how the chief operating decision maker (“CODM”) evaluates financial performance and allocates resources. The Company’s CODM is the chief executive officer. The CODM assesses the segments’ performance by using each segment’s operating income and primarily relies on operating income for each segment during the annual budgeting and forecasting process. On a quarterly basis, the CODM reviews budget-to-actual variances for profit metrics to inform decisions on the allocation of operating and capital resources across segments.

As described in Note 3, the Çöpler mine and related properties met the criteria for classification as held for sale and discontinued operations as of March 31, 2026, and are excluded from the tables below. Following the removal of Çöpler, the Company determined that it hasfour reportable and operating segments represented by each of its producing mine sites.

The following tables provide a summary of financial information related to the Company’s segments (in thousands):

(1)Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. The exploration, evaluation and development properties and the portfolio of prospective exploration tenures, near or adjacent to the existing operations, are included in the respective reportable segment. The greenfield standalone prospects and development projects are included in Corporate and other.

(1)The reported statements of operations amounts reflect results for CC&V from the date of acquisition on February 28, 2025 through March 31, 2025. See Note 3 for additional information.

(2)Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. The exploration, evaluation and development properties and the portfolio of prospective exploration tenures, near or adjacent to the existing operations (near-mine) are included in the respective reportable segment. The greenfield standalone prospects and development projects are included in Corporate and other.

(3)Excludes depreciation, depletion, and amortization.

6. REVENUE

The following table represents revenues by product (in thousands):

(1)Other revenue includes: changes in the fair value of concentrate trade receivables due to changes in silver and base metal prices; silver and copper by-product revenue arising from the production and sale of gold doré.

Revenue by metal

Revenue by metal type are as follows (in thousands):

(1)Other revenue includes: changes in the fair value of concentrate trade receivables due to changes in silver and base metal prices; silver and copper by-product revenue arising from the production and sale of gold doré.

Provisional metal sales

At March 31, 2026, the Company had silver sales of 4.4 million ounces at an average price of $69.30 per ounce, lead sales of 20.3 million pounds at an average price of $0.88 per pound, and zinc sales of 2.2 million pounds at an average price of $1.39 per pound, subject to normal course final pricing over the next several months.

For the three months ended March 31, 2026 and 2025, the change in the fair value of the Company’s embedded derivatives relating to provisional concentrate metal sales was an increase of $8.9 million and $1.6 million, respectively. The changes in fair value have been recorded in Revenue.

7. OTHER OPERATING EXPENSE (INCOME), NET

The following table includes the components of Other operating expense (income), net:

8. OTHER INCOME (EXPENSE)

The following table includes the components of Other income (expense):

9. INCOME AND MINING TAXES

The Company’s consolidated effective income tax rate from continuing operations for the three months ended March 31, 2026 was 19.3%, compared to 15.6% for the three months ended March 31, 2025. The Company, a Canadian domiciled entity, is subject to a blended statutory tax rate of 27%, inclusive of federal and provincial taxes. The effective income tax rate for the three months ended March 31, 2026 differs from the statutory rate primarily due to the tax benefits for excess percentage depletion and foreign derived deduction eligible income, partially offset by additions to the valuation allowance for net operating losses generated by certain entities. The effective income tax rate for the three months ended March 31, 2025 differs from the statutory rate primarily due to deferred tax benefits resulting from foreign currency fluctuations, partially offset by additions to the valuation allowance for net operating losses generated by certain entities.

10. INCOME (LOSS) PER SHARE

The Company calculates basic net income (loss) per share using, as the denominator, the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share uses, as its denominator, the weighted-average number of common shares outstanding during the period plus the effect of dilutive potential common shares during the period.

Dilutive potential common shares include stock options, Restricted Share Units (“RSUs”), and convertible notes.

The calculations of basic and diluted net income (loss) per share attributable to SSR Mining shareholders are as follows (in thousands):

(1)Consolidated diluted per share amounts may not sum due to the exclusion of antidilutive shares noted below.

For the three months ended March 31, 2026, $0.9 million of interest saving on convertible notes, net of tax,10,636 common shares and 1,396 restricted share units were excluded from the diluted income per common share from discontinued operations calculation because the effect would be antidilutive.

For the three months ended March 31, 2025, $1.2 million of interest saving on convertible notes, net of tax,12,981 common shares, and 1,145 restricted share units were excluded from the diluted income per common share from discontinued operations calculation because the effect would be antidilutive.

11. FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS

As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Refer to Note 12 to the audited Consolidated Financial Statements in the Company’s 2025 Annual Report on Form 10-K for further information on the Company's assets and liabilities measured at fair value. The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) and nonrecurring basis by level within the fair value hierarchy (in thousands):

(1)Marketable securities of publicly quoted companies, consisting of investments, are valued using a market approach based upon unadjusted quoted prices in an active market obtained from securities exchanges.

(2)The Company’s provisional metal sales contracts, included in Trade and other receivables in the Condensed Consolidated Balance Sheets, are valued using inputs derived from observable market data, including quoted commodity forward prices. The inputs do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy. The changes in fair value of provisional metal sales have been recorded in Revenue in the Condensed Consolidated Statements of Operations.

(3)At times, the Company manages a portion of its exposure to fluctuation in diesel prices and foreign currency exchange rates through derivative financial instruments. In periods when the Company has open derivative positions, the derivative assets and liabilities are valued using pricing models with inputs derived from observable market data, including quoted prices in active markets. The Company’s diesel collar instruments, included in Prepaids and other current assets in the Condensed Consolidated Balance Sheets, are valued using inputs derived from observable market data, including quoted commodity forward prices. The inputs do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy. As of March 31, 2026, the Company has outstanding diesel collar contracts with an aggregate notional volume of approximately 11.0 million gallons, which are expected to settle through December 2026. The gain of $12.2 million resulting from diesel collar contracts has been recorded in Cost of sales in the Condensed Consolidated Statements of Operations.

(1)Marketable securities of publicly quoted companies, consisting of investments, are valued using a market approach based upon unadjusted quoted prices in an active market obtained from securities exchanges.

(2)The Company’s provisional metal sales contracts, included in Trade and other receivables in the Condensed Consolidated Balance Sheets, are valued using inputs derived from observable market data, including quoted commodity forward prices. The inputs do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.

Deferred and contingent consideration are included in Level 3 as certain assumptions used in the calculation of the fair value are not based on observable market data. The following table reconciles the beginning and ending balances for financial instruments that are recognized at fair value using significant unobservable inputs (Level 3) in the Condensed Consolidated Financial Statements (in thousands):

(1)During the first quarter of 2026, the Company completed the payment of $87.5 million to Newmont and was relieved of the contingent payment associated with the Carlton Tunnel. Refer to Note 3 for additional information.

Fair values of financial assets and liabilities not already measured at fair value

The fair value of the 2019 Notes as compared to the carrying amounts were as follows (in thousands):

(1)The fair value disclosed for the Company's 2019 Notes is included in Level 1 as the basis of valuation uses a quoted price in an active market. During the three months ended March 31, 2026, holders of the 2019 Notes exercised their conversion rights and elected to convert their holdings to common shares. Refer to Note 16 for additional information.

12. TRADE AND OTHER RECEIVABLES

The components of Trade and other receivables are as follows (in thousands):

No provision for credit loss was recognized as of March 31, 2026 or December 31, 2025. All trade receivables are expected to be settled within twelve months.

13. INVENTORIES

The components of Inventories are as follows (in thousands):

No write-downs of inventory were recognized during the three months ended March 31, 2026 and 2025.

14. MINERAL PROPERTIES, PLANT AND EQUIPMENT, NET

The components of Mineral properties, plant and equipment, net are as follows (in thousands):

(1)As of March 31, 2026 and December 31, 2025, plant and equipment includes finance lease right-of-use assets with a carrying amount of $0.2 million and $0.5 million, respectively.

No impairment was recognized during the three months ended March 31, 2026 and 2025.

15. ACCRUED LIABILITIES AND OTHER

The components of Accrued liabilities and other are as follows (in thousands):

16. DEBT

The following tables summarize the Company’s debt balances (in thousands):

(1)As of March 31, 2026 and December 31, 2025, amount is net of discount and debt issuance costs ofnil and $0.4 million, respectively.

Convertible debt

2019 Notes

During the three months ended March 31, 2026, following the issuance by the Company of a notice of redemption on February 18, 2026 to the holders of the 2019 Notes, the majority of all such holders exercised their conversion rights and elected to convert their holdings to common shares. The conversion occurred pursuant to the terms of the 2019 Notes agreement whereby the holders had the option to convert the 2019 Notes to common shares at any time prior to maturity on April 1, 2039. An aggregate principal amount of $229.8 million was converted to 13.1 million shares during the three months ended March 31, 2026. Upon the conversion, the Company paid cash in lieu of fractional shares and interest of $2.6 million. On March 20, 2026, the Company redeemed the remaining unconverted principal amount of the 2019 Notes for $0.2 million in cash. The Company redemption was pursuant to the terms of the 2019 Notes agreement, which permitted the redemption of the 2019 Notes when the Company’s share price exceeded 130.0% of the conversion price for 20 or more days in a period of 30 consecutive trading days. As of March 31, 2026, the Company has been discharged of all debt obligations associated with the 2019 Notes.

17. EQUITY

Repurchase of common shares

On March 27, 2026, the Company received approval of its Normal Course Issuer Bid (“2026 NCIB”) to purchase for cancellation up to 21.5 million common shares through the facilities of the Toronto Stock Exchange (“TSX”), Nasdaq or other Canadian and U.S. marketplaces over atwelve-month period beginning March 31, 2026 and ending March 30, 2027. Under the 2026 NCIB, the Company is not obligated to acquire any common shares and may suspend or discontinue purchases at any time. During the three months ended March 31, 2026, no common shares were repurchased.

Conversion of 2019 Notes to common shares

During the three months ended March 31, 2026, holders of the 2019 Notes exercised their conversion rights and elected to convert their holdings to common shares. Refer to Note 16 for additional information.

18. SUPPLEMENTAL CASH FLOW INFORMATION

Net change in operating assets and liabilities were as follows (in thousands):

Other cash information was as follows (in thousands):

19. RELATED PARTY TRANSACTIONS

Prepaids, related party

During 2025, Artmin Madencilik Sanayi ve Ticaret A.Ş (“Artmin”) advanced payments to Gap İnşaat Yatırım ve Dış Ticaret A.Ş (“Gap İnşaat”) associated with development activities at Hod Maden. Gap İnşaat is a wholly owned subsidiary of Calik Holding. Calik Holding owns 100% of Lidya Madencilik Sanayi ve Ticaret A.Ş (“Lidya Mines”), the Company’s joint venture partner. The Company advanced $24.5 million to Gap İnşaat. During the three months ended March 31, 2026 and 2025, approximately $0.7 million andnil, respectively, of the advance was reclassified to Mineral properties, plant and equipment, net. As of March 31, 2026, the carrying amount of the advance was approximately $23.9 million.

Related party loan

Artmin entered into loan agreements with Mariana Turkey Limited, as lender, to fund Horizon Copper Corp.’s (“Horizon”) portion of working capital spend of the Hod Maden project. The loans are unsecured and bear interest at the credit default swap premium of Türkiye plus a fixed spread of 4.0% at the end of each calendar quarter. The loans have afive year maturity with maturity dates ranging from June 2028 to March 2031. Artmin’s loans with Horizon had a total borrowing capacity of $66.1 million, of which $66.1 million was outstanding as of March 31, 2026. The liability is included in Debt, related party in the Condensed Consolidated Balance Sheets. As of March 31, 2026, no repayments have been made. Interest expense for these loans totaled $0.9 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively. The interest expense on the loan is included in Interest expense in the Condensed Consolidated Statements of Operations.

Related party line of credit

During 2024, the Company’s majority owned subsidiary, Anagold Madencilik Sanayi ve Ticaret A.Ş, entered into loan agreements with Aktif Bank, as lender, to fund Lidya Mines’ portion of reclamation and environmental obligations. Aktif Bank is a wholly owned subsidiary of Calik Holding. The loan agreements provide for a non-revolving credit facility in an aggregate principal amount of up to $11.0 million. During the third quarter of 2025, the Company amended the terms of the outstanding loan agreements to extend the maturity date from August 8, 2025 to August 7, 2026 and to increase the stated interest rate from 10.0% to 10.15% per annum. The loans are guaranteed by Lidya Mines. As of March 31, 2026, the outstanding balance of the loans was $11.0 million and is included in Liabilities held for sale in the Condensed Consolidated Balance Sheets. As of March 31, 2026, no repayments have been made. Interest expense totaled $0.3 million and $0.3 million for thethree months ended March 31, 2026 and 2025, respectively. The interest expense on the loans is included in Net income (loss) from discontinued operations in the Condensed Consolidated Statements of Operations. Refer to Note 3 and Note 4 for further details related to held for sale and discontinued operations.

20. COMMITMENTS AND CONTINGENCIES

General

Estimated losses from loss contingencies are accrued by a charge to income when information is available prior to the issuance of the financial statements that indicates it is probable that a liability could be incurred, and the amount of the loss can be reasonably estimated. Legal expenses associated with the loss contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss has been incurred.

Environmental matters

CC&V - Carlton Tunnel

The Carlton Tunnel was completed in 1941 with the purpose of draining the southern portion of the mining district, subsequently consolidated by CC&V. CC&V has held discharge permits for the Carlton Tunnel since 1983, primarily to focus on monitoring. The monitoring data accumulated since the mid-1970s have indicated consistency in the water quality discharged from the Carlton Tunnel over time. In 2006, legal proceedings and work with the regulator confirmed that the water flowing out of the Carlton Tunnel portal is akin to natural spring water and did not constitute mine drainage. However, when the Water Quality Control Division of the Colorado Department of Public Health and Environment (the “Division”) issued new discharge permits in January 2021, the Division imposed new water quality limits. In June 2025, the Water Quality Control Commission agreed to site specific standards for CC&V and a Discharger Specific Variance (“DSV”) for certain water quality standards. In January 2026, the Division issued a modification to CC&V's discharge permit to implement site specific standards for certain water quality standards, and a DSV and compliance extension for certain other standards. CC&V continues to study alternative long-term remediation plans for water discharged from the Carlton Tunnel, while also continuing to evaluate the appropriate scope of applicable permitting and regulatory requirements. On March 9, 2026, Newmont, the former indirect parent company of CC&V, and CC&V (as a Nominal Plaintiff in the Action), filed a lawsuit in federal court against the Colorado Water Quality Control Division seeking a declaratory judgment that federal and state law do not require the discharge permit for the Carlton Tunnel outflows. Depending on the outcome of the lawsuit and plans that may ultimately be agreed with regulators, a material adjustment to the remediation liability may be required. Refer to Note 3 for additional information on the acquisition of CC&V.

Surety bonds

The Company uses surety bonds to support certain environmental bonding obligations. As of March 31, 2026 and December 31, 2025, the Company had surety bonds totaling $512.9 million and $500.1 million outstanding, respectively.

Other commitments and contingencies

Following the incident at the Company’s Çöpler mine in February 2024, as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, the Company has been named as a defendant in securities class actions in the United States and Canada and is subject to various risks and contingencies arising in the normal course of business. Based on the information currently available to the Company, no liability has been recorded for these lawsuits because the Company believes that any such liability is not probable and reasonably estimable at this time.

21. SUBSEQUENT EVENTS

Share Repurchases

Subsequent to the period ended March 31, 2026, and prior to the filing date, the Company purchased 9.2 million of its outstanding common shares at an average share price of $32.52 per share for a total consideration of $300.0 million pursuant to the 2026 NCIB. All shares were cancelled upon purchase. Refer to Note 17 for additional information.