SSR MINING INC.

A summary of the Company's consolidated financial and operating results for the three and nine months ended September 30, 2026 and 2025 are presented below (in thousands):

(2)The Company reports non-GAAP financial measures including adjusted attributable net income (loss), adjusted basic attributable net income (loss) per share, cash costs and all in sustaining costs (“AISC”) per ounce sold to manage and evaluate its operating performance at its mines. See “Non-GAAP Financial Measures” for an explanation of these financial measures and a reconciliation of these financial measures to Net income (loss) attributable to SSR Mining shareholders and Cost of sales, which are the comparable GAAP financial measures.

(3)Data for lead production and sales relate only to lead in lead concentrate. Data for zinc production and sales relate only to zinc in zinc concentrate.

(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.

Revenue

Revenue increased by $61.8 million, or 16.0%, to $447.7 million for the three months ended September 30,2026, as compared to $385.8 million for the three months ended September 30, 2025. The increase was primarily due to a 21.2% increase in average realized gold price, or $57.2 million, a 39.3% increase in realized silver price, or $30.8 million, and a 3.6% increase in gold ounces sold, or $9.3 million, partially offset by a 29.6% decrease in silver ounces sold, or $33.0 million. The increase in gold ounces sold was attributable to higher gold ounces sold at Seabee and CC&V, partially offset by fewer ounces sold at Marigold. For a discussion of revenue by segment, refer to the Results of Operations below.

Revenue increased by $365.3 million, or 33.0%, to $1,473.2 million for the nine months ended September 30,2026, as compared to $1,107.9 million for the nine months ended September 30, 2025. The increase was primarily due to a 36.6% higher average realized gold price, or $279.7 million, and a 103.5% higher average realized silver price, or $198.0 million, partially offset by a 3.3% decrease in gold ounces sold, or $26.0 million, and a 31.1% decrease in silver ounces sold, or $86.5 million. The decrease in gold ounces sold was attributable to fewer gold ounces sold at Seabee and Marigold, partially offset by higher gold ounces sold at CC&V. For a discussion of revenue by segment, refer to the Results of Operations below.

Cost of sales

Cost of sales increased by $21.4 million, or 12.9%, to $187.1 million for the three months ended September 30,2026, as compared to $165.7 million for the three months ended September 30, 2025. The increase was primarily due to higher cost of sales at Puna, CC&V, and Seabee, 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.

Cost of sales increased by $90.6 million, or 19.5%, to $555.9 million for the nine months ended September 30,2026, as compared to $465.3 million for the nine months ended September 30, 2025. The increase was primarily due to the inclusion of CC&V for the full period and higher cost of sales at Puna, Marigold, and CC&V. For a discussion of cost of sales by segment, refer to the Results of Operations below.

Depreciation, depletion, and amortization

Depreciation, depletion, and amortization increased by $5.7 million, or 20.1%, to $33.8 million for the three months ended September 30,2026, as compared to $28.2 million for the three months ended September 30, 2025, primarily due to higher depletion expense as a result of a 78.9% increase in gold ounces sold at Seabee.

Depreciation, depletion, and amortization increased by $10.0 million, or 11.8%, to $95.0 million for the nine months ended September 30,2026, as compared to $85.0 million for the nine months ended September 30, 2025, primarily due to the inclusion of CC&V for the full nine month period resulting in increased gold ounces sold.

General and administrative expense

General and administrative expense for the three months ended September 30, 2026, was $41.0 million as compared to $40.2 million for the three months ended September 30, 2025. General and administrative expense was consistent period over period.

General and administrative expense for the nine months ended September 30,2026, was $107.1 million as compared to $90.8 million for the nine months ended September 30, 2025. General and administrative expenses increased primarily due to a $14.9 million increase in share-based compensation expense attributable to higher share prices in 2026 and a $2.5 million increase in contractors and outside services expense.

Exploration and evaluation costs

Exploration and evaluation costs for the three months ended September 30,2026, were $10.5 million compared to $9.7 million for the three months ended September 30, 2025. Exploration and evaluation costs for the nine months ended September 30, 2026 were $24.7 million compared to $21.7 million for the nine months ended September 30, 2025. Exploration and evaluation costs increased primarily due to an increase in drilling activities at Melina and Cortaderas at Puna in 2026 as compared to 2025.

Reclamation costs

Reclamation costs for the three months ended September 30, 2026, were $51.1 million as compared to $6.3 million for the three months ended September 30, 2025. Reclamation costs increased by $44.8 million primarily due to revisions in cost assumptions with water management and tailings storage facilities at Puna. See Note 7 to the Condensed Consolidated Financial Statements for further details.

Reclamation costs for the nine months ended September 30,2026, were $64.8 million as compared to $16.3 million for the nine months ended September 30, 2025. Reclamation costs increased by $48.4 million primarily due to $44.8 million of revisions in estimates and obligations at Puna as noted above and $2.8 million higher reclamation accretion costs.

Care and maintenance

Care and maintenance costs for the three months ended September 30,2026 and 2025 were nil. Care and maintenance expense for the nine months ended September 30,2026 werenil as compared to $1.0 million for the three months ended September 30, 2025. Care and maintenance expense incurred during the nine months ended 2025 represents $0.2 million of direct costs and $0.8 million of depreciation incurred during the temporary suspension of operations at Seabee.

Other operating expense (income), net

Other operating expense, net for the three months ended September 30,2026, was $2.0 million as compared to $10.8 million for the three months ended September 30, 2025. The change was primarily due to a $7.3 million decrease in CC&V transaction and integration costs, and a $1.9 million decrease in change in the fair value of contingent consideration, partially offset by a $4.6 million expense related to the settlement of certain putative wage and hour class action lawsuits at CC&V and Marigold and a $1.3 million increase in loss on sale of assets. Additionally, the Company received $5.4 million of insurance proceeds income related to the Krause fires at Seabee.

Other operating expense, net for the nine months ended September 30,2026, was $11.5 million as compared to $28.0 million for the nine months ended September 30, 2025. The change was primarily due to a $19.0 million decrease in CC&V transaction and integration costs, and a $3.0 million decrease in change in the fair value of contingent consideration, partially offset by a $5.1 million increase in loss on sale of assets and $4.6 million related to the settlement of certain putative wage and hour class action lawsuits at CC&V and Marigold. Additionally, the Company received $5.4 million of insurance proceeds income related to the Krause fires at Seabee.

Interest expense

Interest expense for the three months ended September 30, 2026, was $0.1 million as compared to $1.9 million for the three months ended September 30, 2025. Interest expense for the nine months ended September 30,2026 was $1.8 million as compared to $6.3 million for the nine months ended September 30, 2025. The decrease was primarily due to lower outstanding debt balances during 2026, resulting from the conversion of the 2019 Notes during the first quarter of 2026.

Other income (expense)

Other income for the three months ended September 30,2026, was $11.3 million as compared to $5.8 million for the three months ended September 30, 2025. The increase was primarily due to a $11.0 million increase in interest income, partially offset by a $3.8 million decrease in change in fair value of marketable securities and a $1.5 million decrease in gain on marketable security sales.

Other income for the nine months ended September 30,2026, was $31.6 million as compared to $18.0 million for the nine months ended September 30, 2025. The increase was primarily due to a $13.0 million increase in interest income and a $0.5 million increase in gain on marketable security sales, partially offset by a $2.6 million decrease in change in fair value of marketable securities.

Foreign exchange gain (loss)

Foreign exchange loss for the three months ended September 30,2026, was $6.3 million compared to $12.7 million for the three months ended September 30, 2025. Foreign exchange loss for the nine months ended September 30,2026 was $18.9 million compared to $27.5 million for the nine months ended September 30, 2025. During the three and nine months ended September 30,2026, the foreign exchange loss was primarily due to the weakening of the ARS against the USD and its impact on ARS-denominated assets.

Income and mining tax benefit (expense)

Income and mining tax expense for the three months ended September 30,2026, was $32.2 million as compared to an expense of $22.2 million for the three months ended September 30,2025. The increase in income tax expense was primarily due to lower inflationary and foreign exchange tax benefits in Argentina and slightly lower U.S. tax benefits relative to earnings compared to the prior-year period. The Company's effective tax rate increased to 25.3% from 19.1% for the three months ended September 30, 2026 and 2025, respectively, primarily due to lower favorable foreign exchange and inflationary tax impacts compared to the prior-year period.

Income and mining tax expense for the nine months ended September 30,2026, was $142.7 million as compared to an expense of $73.6 million for the nine months ended September 30, 2025. The increase in income tax expense was primarily due to higher year-to-date operating income and higher withholding taxes on distributions compared to 2025. The Company's effective tax rate increased to 22.8% from 19.2% for the nine months ended September 30, 2026 and 2025, respectively, primarily due to higher withholding taxes on distributions and lower inflationary tax benefits compared to the prior-year period.

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.

Discontinued operations

Net loss from discontinued operations for the three months ended September 30, 2026, was $15.0 million compared to $36.8 million for the three months ended September 30, 2025. The decrease in net loss from discontinued operations was primarily due to a decrease in care and maintenance expense of $37.3 million and interest expense of $1.7 million, partially offset by a $2.4 million increase in other operating expense.

Net loss from discontinued operations for the nine months ended September 30, 2026, was $425.4 million compared to $118.6 million for the nine months ended September 30, 2025. The increase in net loss from discontinued operations was primarily due to a $337.6 million loss on the divestiture related to Çöpler, a $17.5 million loss related to the deconsolidation of Artmin and an increase in other operating expense of $46.5 million, partially offset by a decrease of $63.5 million in reclamation and remediation costs and a $50.0 million decrease in care and maintenance expense.

Refer to Note 4 of the Condensed Consolidated Financial Statements for additional information.