
						News Release

August 5, 2025

SSR MINING REPORTS SECOND QUARTER 2025 RESULTS

DENVER - SSR Mining Inc. (Nasdaq/TSX: SSRM) ("SSR Mining" or the “Company") reports consolidated financial results for the second quarter ended June 30, 2025.

•Operating results: Second quarter 2025 production was 120,191 gold equivalent ounces at cost of sales of $1,396 per payable ounce and all-in sustaining costs (“AISC”) of $2,068 per payable ounce, or $1,858 per payable ounce exclusive of costs incurred at Çöpler in the quarter.(1) Year-to-date, the Company produced 223,987 gold equivalent ounces at cost of sales of $1,357 per payable ounce and all-in-sustaining costs of $2,024 per payable ounce, or $1,807 exclusive of costs incurred at Çöpler during the year. The Company remains on track for full-year 2025 guidance of 410,000 to 480,000 gold equivalent ounces from its Marigold, CC&V, Seabee and Puna operations at consolidated cost of sales of $1,375 to $1,435 per payable ounce and AISC of $2,090 to $2,150 per payable ounce.

•Financial results: In the second quarter of 2025, SSR Mining reported net income attributable to SSR Mining shareholders of $90.1 million, or $0.42 per diluted share and adjusted net income attributable to SSR Mining shareholders of $110.1 million, or $0.51 per diluted share. For the second quarter of 2025, SSR Mining generated $157.8 million in operating cash flow and $98.4 million in free cash flow. Over the same period, operating cash flow and free cash flow before working capital adjustments totaled $196.0 million and $136.6 million, respectively.

•Cash and liquidity position: As of June 30, 2025, SSR Mining had a cash and cash equivalent balance of $412.1 million and total liquidity of $912.1 million inclusive of the Company’s undrawn revolving credit facility and accompanying accordion feature. In the second quarter of 2025, SSR Mining received $44.4 million in business interruption insurance proceeds associated with the Çöpler Incident.

•CC&V integration: In the first full quarter of operations within the SSR Mining portfolio, CC&V produced 44,062 ounces of gold at cost of sales of $1,116 per payable ounce and AISC of $1,339 per payable ounce. The CC&V integration has continued to progress positively, with the mine generating nearly $85 million in mine site free cash flow since the close of the acquisition. CC&V remains on track for full-year guidance metrics, and a technical report for CC&V based on existing Mineral Reserves remains on track for publication in 2025.

•Çöpler update: The Company continues to work closely with the relevant authorities in Türkiye to advance the restart of the Çöpler mine, including progressing various engineering plans and design documents. During the second quarter of 2025, the Company recorded an increase to the reclamation and remediation costs associated with the Çöpler incident. The revised estimate reflects an increase of $12.9 million above the previously disclosed estimated reclamation and remediation cost range of $250 to $300 million provided in the first quarter of 2024. The revision in estimate reflects the Company's advancement of the engineering and construction design of the East Storage Facility and the advancement of the studies for the permanent closure of the heap leach pad. While SSR Mining remains confident and committed to restarting operations, at this time, the Company is not able to estimate or predict when and under what conditions operations will resume at Çöpler.

•Puna mine life extension: SSR Mining has continued to advance opportunities to extend the Puna mine life, including pit laybacks at the Chinchillas pit, processing of stockpiles, and advancing exploration and engineering work at Cortaderas. Based on the work currently completed at Chinchillas, SSR Mining expects that 2026 silver production



SSR Mining Inc.						PAGE 1

at Puna will be between 7 and 8 million ounces, an increase against the 2023 Puna Technical Report Summary (“TRS”). Production in 2027 and 2028 is expected to average approximately 4 million ounces of silver. The Company will continue to evaluate opportunities to extend the mine life at Puna, including advancing studies on the Cortaderas deposit.

•Development & exploration: During the second quarter of 2025, $16.2 million was spent at Hod Maden as engineering and initial site establishment efforts continued to progress, bringing year-to-date spend to $29.1 million at the project. Additionally, SSR Mining continued to advance exploration and development activities across its portfolio in the quarter.

Rod Antal, Executive Chairman of SSR Mining, said, “The second quarter of 2025 was another period of strong operational performance. Pleasingly, CC&V delivered well against expectations in its first full quarter in our portfolio, and the mine has now generated approximately $85 million in asset-level free cash flow in the four months since its acquisition, a remarkable outcome. With an updated technical report for CC&V also expected this year, we are excited to provide our initial view of the longer-term potential of the asset and further demonstrate the benefits of this accretive transaction.

In Türkiye, initial development activities continued at Hod Maden, while efforts at Çöpler remain focused on advancing requirements towards a restart.

Lastly, through our continued drive to deliver organic growth across the portfolio, we are pleased to announce the near-term extension of operations at Puna. This update provides a meaningful improvement over Puna’s prior life of mine plan, and we view this extension as a first step in highlighting the continued and future upside at the asset through further development at Chinchillas and at Cortaderas.”



SSR Mining Inc.						PAGE 2

Financial and Operating Summary

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


(in thousands, except per share data or otherwise stated)	Three Months Ended June 30,				Six Months Ended June 30,
		2025		2024		2025		2024
Financial Results
Revenue	$	405,455	$	184,841	$	722,073	$	415,075
Cost of sales	$	162,948	$	96,582	$	299,589	$	222,483
Operating income (loss)	$	108,885	$	10,720	$	175,776	$	(365,704)
Net income (loss)	$	80,362	$	2,464	$	134,808	$	(355,698)
Net income (loss) attributable to SSR Mining shareholders	$	90,075	$	9,693	$	148,856	$	(277,389)
Basic net income (loss) per share attributable to SSR Mining shareholders	$	0.44	$	0.05	$	0.73	$	(1.37)
Diluted net income (loss) per share attributable to SSR Mining shareholders	$	0.42	$	0.05	$	0.70	$	(1.37)
Adjusted net income attributable to SSR Mining shareholders (1)	$	110,074	$	7,489	$	171,647	$	29,999
Basic adjusted net income per share attributable to SSR Mining shareholders (1)	$	0.54	$	0.04	$	0.85	$	0.15
Diluted adjusted net income per share attributable to SSR Mining shareholders (1)	$	0.51	$	0.04	$	0.80	$	0.15

Cash provided by operating activities before changes in working capital (1)	$	196,016	$	(23,102)	$	300,970	$	8,962
Cash provided by operating activities	$	157,841	$	(78,132)	$	242,646	$	(53,501)
Cash used in investing activities	$	(68,503)	$	(31,684)	$	(222,753)	$	(68,462)
Cash provided by (used in) financing activities	$	7,856	$	1,488	$	10,531	$	(9,332)

Operating Results
Gold produced (oz)		90,966		42,400		166,835		122,680
Gold sold (oz)		90,739		40,470		168,447		129,749
Silver produced ('000 oz)		2,849		2,731		5,354		4,646
Silver sold ('000 oz)		2,534		2,489		4,909		4,148
Lead produced ('000 lb) (2)		13,877		13,291		25,365		23,289
Lead sold ('000 lb) (2)		12,058		12,385		24,111		21,050
Zinc produced ('000 lb) (2)		1,125		859		1,883		2,076
Zinc sold ('000 lb) (2)		1,279		1,419		1,541		1,929

Gold equivalent produced (oz) (3)		120,191		76,102		223,987		177,691
Gold equivalent sold (oz) (3)		116,736		71,190		220,843		178,864

Average realized gold price ($/oz sold)	$	3,336	$	2,378	$	3,151	$	2,160
Average realized silver price ($/oz sold)	$	35.24	$	30.22	$	33.90	$	27.01

Cost of sales per gold equivalent ounce sold (3)	$	1,396	$	1,357	$	1,357	$	1,244
Cash cost per gold equivalent ounce sold (1,3)	$	1,282	$	1,192	$	1,247	$	1,137
AISC per gold equivalent ounce sold (1,3)	$	2,068	$	2,116	$	2,024	$	1,789

Financial Position	June 30, 2025				December 31, 2024
Cash and cash equivalents	$			412,104	$			387,882
Current assets	$			1,147,390	$			1,029,034
Total assets	$			5,795,877	$			5,189,020
Current liabilities	$			480,832	$			218,877
Total liabilities	$			1,710,266	$			1,242,159
Working capital (4)	$			666,558	$			810,157

(1)The Company reports non-GAAP financial measures including adjusted net income attributable to SSR Mining shareholders, adjusted net income per share attributable to SSR Mining shareholders, cash provided by operating activities before changes in working capital, cash costs and AISC per ounce sold to manage and evaluate its operating performance at its mines. Cost of sales excludes depreciation, depletion, and amortization. AISC includes the cash component of care and maintenance costs. See “Non-GAAP Financial Measures” at the end of this press release for an explanation of these financial measures and a reconciliation of these financial measures to net income (loss), cost of sales, and cash generated by operating activities, which are the most comparable GAAP financial measures.

(2)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.

(3)Gold equivalent ounces (“GEOs”) 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 GEO calculations.

(4)Working capital is defined as current assets less current liabilities.



SSR Mining Inc.						PAGE 3

Marigold, USA


	Three Months Ended June 30,				Six Months Ended June 30,
Operating Data	2025		2024		2025		2024
Gold produced (oz)		35,906		25,691		74,492		60,371
Gold sold (oz)		35,589		25,450		75,997		62,319

Ore mined (kt)		3,425		7,474		8,781		13,196
Waste removed (kt)		20,912		18,778		41,367		39,365
Total material mined (kt)		24,337		26,252		50,148		52,561
Strip ratio		6.1		2.5		4.7		3.0

Ore stacked (kt)		3,426		7,474		8,782		13,169
Gold grade stacked (g/t)		0.62		0.20		0.44		0.17

Average realized gold price ($/oz sold)	$	3,337	$	2,391	$	3,104	$	2,203
Cost of sales ($/oz gold sold)	$	1,584	$	1,542	$	1,515	$	1,417
Cash costs ($/oz gold sold) (5)	$	1,586	$	1,542	$	1,516	$	1,418
AISC ($/oz gold sold) (5)	$	1,977	$	2,065	$	1,864	$	1,690

(5)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 "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended June 30, 2025 and 2024, Marigold produced 35,906 and 25,691 ounces of gold, respectively. For the six months ended June 30, 2025 and 2024, Marigold produced 74,492 and 60,371 ounces of gold, respectively. During the second quarter of 2025, Marigold reported cost of sales of $1,584 per payable ounce and AISC of $1,977 per payable ounce.

Full-year 2025 production guidance for Marigold is 160,000 to 190,000 ounces of gold at mine site cost of sales of $1,530 to $1,570 per payable ounce and AISC of $1,800 to $1,840 per payable ounce. For the remainder of the year, Marigold’s production is expected to be approximately 55-60% weighted to the fourth quarter.



SSR Mining Inc.						PAGE 4

Cripple Creek & Victor, USA

(For the six months ended June 30, 2025, all metrics represent the period from February 28, 2025 to June 30, 2025, the period for which the Company was entitled to the economic benefits of CC&V following the acquisition)


	Three Months Ended June 30,				Six Months Ended June 30,
Operating Data	2025		2024		2025		2024
Gold produced (oz)		44,062		—		55,344		—
Gold sold (oz)		44,800		—		56,100		—

Ore mined (kt)		3,441		—		5,265		—
Waste removed (kt)		4,880		—		6,451		—
Total material mined (kt)		8,321		—		11,716		—
Strip ratio		1.4		—		1.2		—

Ore stacked (kt)		3,519		—		5,378		—
Gold grade stacked (g/t)		0.50		—		0.45		—

Average realized gold price ($/oz sold)	$	3,336		—	$	3,282		—
Cost of sales ($/oz gold sold)	$	1,116		N/A	$	1,212		N/A
Cash costs ($/oz gold sold) (6)	$	1,105		N/A	$	1,199		N/A
AISC ($/oz gold sold) (6)	$	1,339		N/A	$	1,427		N/A

(6)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 "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended June 30, 2025, CC&V produced 44,062 ounces of gold. Reflecting the closing of the CC&V acquisition during the first quarter of 2025, CC&V produced 55,344 for the period from February 28, 2025 and June 30, 2025. Inclusive of the 28,000 ounces of gold produced in the first two months of 2025, first half production from CC&V totaled 83,344 ounces of gold. During the second quarter of 2025, CC&V reported cost of sales of $1,116 per payable ounce and AISC of $1,339 per payable ounce.

For the period of February 28, 2025 to December 31, 2025, production guidance for CC&V is 90,000 to 110,000 ounces of gold at mine site cost of sales of $1,470 to $1,510 per payable ounce and AISC of $1,800 to $1,840 per payable ounce. For the remainder of the year, CC&V’s production is expected to be evenly weighted between the third and fourth quarters. Sustaining capital in the second half of 2025 is expected to be 75% weighted to the third quarter, with AISC expected to peak in the third quarter accordingly. A technical report for CC&V based on existing Mineral Reserves remains on track for publication in 2025.



SSR Mining Inc.						PAGE 5

Seabee, Canada


	Three Months Ended June 30,				Six Months Ended June 30,
Operating Data	2025		2024		2025		2024
Gold produced (oz)		10,998		16,709		36,999		40,482
Gold sold (oz)		10,350		15,020		36,350		43,470

Ore mined (kt)		66		115		148		219

Ore milled (kt)		68		103		158		218
Gold mill feed grade (g/t)		5.22		5.40		7.38		5.99
Gold recovery (%)		96.6		95.5		97.0		96.0

Average realized gold price ($/oz sold)	$	3,335	$	2,355	$	3,048	$	2,169
Cost of sales ($/oz gold sold)	$	1,785	$	1,150	$	1,145	$	959
Cash costs ($/oz gold sold) (7)	$	1,786	$	1,152	$	1,145	$	960
AISC ($/oz gold sold) (7)	$	2,708	$	1,626	$	1,754	$	1,488

(7)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 "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended June 30, 2025 and 2024, Seabee produced 10,998 and 16,709 ounces of gold, respectively. For the six months ended June 30, 2025 and 2024, Seabee produced 36,999 and 40,482 ounces of gold, respectively. During the second quarter of 2025, Seabee reported cost of sales of $1,785 per payable ounce and AISC of $2,708 per payable ounce.

Production during the second quarter of 2025 was impacted by power interruptions caused by forest fires to the north of the mine. The power supply to the site was restored on June 13, 2025, and there was no damage to the site as a result of the fires. In support of the emergency recovery and relief efforts for communities impacted by this year's forest fires across northern Saskatchewan & Manitoba, SSR Mining made a donation to the Canadian Red Cross. This donation was matched by the Government of Canada through a program designed to maximize the impact of support to those affected by the fires.

Due to the suspension of operations in the second quarter and a concerted effort to prioritize underground mine development over the remainder of the year, full-year 2025 production at Seabee is targeted at the low end of the mine’s previously issued production guidance of 70,000 to 80,000 ounces of gold.



SSR Mining Inc.						PAGE 6

Puna, Argentina


	Three Months Ended June 30,				Six Months Ended June 30,
Operating Data	2025		2024		2025		2024
Silver produced ('000 oz)		2,849		2,731		5,354		4,646
Silver sold ('000 oz)		2,534		2,489		4,909		4,148
Lead produced ('000 lb)		13,877		13,291		25,365		23,289
Lead sold ('000 lb)		12,058		12,385		24,111		21,050
Zinc produced ('000 lb)		1,125		859		1,883		2,076
Zinc sold ('000 lb)		1,279		1,419		1,541		1,929
Gold equivalent sold ('000 oz) (8)		25,997		30,720		52,396		49,115

Ore mined (kt)		475		668		1,102		931
Waste removed (kt)		1,592		1,519		2,681		3,029
Total material mined (kt)		2,067		2,187		3,783		3,960
Strip ratio		3.35		2.30		2.43		3.30

Ore milled (kt)		492		470		946		887
Silver mill feed grade (g/t)		186.6		186.3		182.4		168.5
Lead mill feed grade (%)		1.36		1.34		1.29		1.25
Zinc mill feed grade (%)		0.26		0.18		0.23		0.22
Silver mill recovery (%)		96.5		97.0		96.5		96.7
Lead mill recovery (%)		94.0		95.7		94.3		94.9
Zinc mill recovery (%)		39.6		46.4		39.6		48.0

Average realized silver price ($/oz sold)	$	35.24	$	30.22	$	33.90	$	27.01
Cost of sales ($/oz silver sold)	$	15.03	$	16.10	$	15.26	$	16.41
Cash costs ($/oz silver sold) (9)	$	9.98	$	11.38	$	10.45	$	11.75
AISC ($/oz silver sold) (9)	$	12.57	$	15.19	$	12.85	$	15.36

(8)GEOs are calculated multiplying the silver ounces by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include by-products in the GEO calculations.

(9)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 “Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

For the three months ended June 30, 2025 and 2024, Puna produced 2.8 and 2.7 million ounces of silver, respectively. For the six months ended June 30, 2025 and 2024, Puna produced 5.4 and 4.6 million ounces of silver, respectively. During the second quarter of 2025, Puna reported cost of sales of $15.03 per payable ounce and AISC of $12.57 per payable ounce.

Full-year 2025 production guidance at Puna is 8.00 to 8.75 million ounces at cost of sales of $12.50 to $14.00 per payable ounce of silver and AISC of $14.25 to $15.75 per payable ounce of silver. Puna’s production over the remainder of 2025 is expected to be approximately 55% weighted to the third quarter.

SSR Mining has continued to advance opportunities to extend the Puna mine life, including pit laybacks at the Chinchillas pit, processing of stockpiles, and advancing exploration and engineering work at Cortaderas. Based on the work currently completed at Chinchillas, SSR Mining expects that 2026 silver production at Puna will be between 7 and 8 million ounces, an increase against the 2023 Puna TRS. Production in 2027 and 2028 is expected to average approximately 4 million ounces of silver. The Company will continue to evaluate opportunities to extend mine, including advancing studies on the Cortaderas deposit.



SSR Mining Inc.						PAGE 7

Çöpler, Türkiye

(amounts presented on 100% basis)

Operations at Çöpler were suspended following the February 13, 2024 incident at the Çöpler mine (the “Çöpler Incident”). During the suspension, care and maintenance expense has been recorded which represents depreciation and direct costs not associated with the environmental reclamation and remediation costs.


	Three Months Ended June 30,				Six Months Ended June 30,
Operating Data	2025		2024		2025		2024
Gold produced (oz)		—		—		—		21,827
Gold sold (oz)		—		—		—		23,960

Ore mined (kt)		—		—		—		266
Waste removed (kt)		—		—		—		3,571
Total material mined (kt)		—		—		—		3,837
Strip ratio		—		—		—		13.4

Ore stacked (kt)		—		—		—		184
Gold grade stacked (g/t)		—		—		—		1.17

Average realized gold price ($/oz sold)		—		—		—	$	2,013
Cost of sales ($/oz gold sold)		N/A		N/A		N/A	$	1,019
Cash costs ($/oz gold sold) (10)		N/A		N/A		N/A	$	1,020
AISC ($/oz gold sold) (10)		N/A		N/A		N/A	$	2,507

(10)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 "Cautionary Note Regarding Non-GAAP Financial Measures" at the end of this press release for an explanation of these financial measures and a reconciliation to cost of sales, which are the comparable GAAP financial measure. Cost of sales excludes depreciation, depletion, and amortization.

The Company continues to work closely with the relevant authorities in Türkiye to advance the restart of the Çöpler mine, including progressing various engineering plans and design documents.

During the second quarter of 2025, the Company recorded an adjustment of reclamation and remediation costs associated with the Çöpler incident of $62.9 million, comprised of $9.4 million related to reclamation costs and $53.5 million related to remediation costs. The revised estimate is now $312.9 million, an increase of $12.9 million above the previously disclosed estimated reclamation and remediation cost range of $250.0 to $300.0 million. The revised estimate reflects the Company's advancement of the engineering and construction design of the permanent storage facility and the advancement of the studies for the permanent closure of the heap leach pad. As part of the heap leach pad closure planning, the Company will conduct further field investigations to confirm the integrity of the heap leach pad liner. This will entail exposing and inspecting sections of the heap leach pad liner. Following completion of the liner inspection, the Company will use the findings to refine and update the closure plan for the heap leach pad. These studies and inspections may result in revisions to the scope of work, estimated costs, and overall timelines related to the heap leach pad closure.

While SSR Mining remains confident and committed to restarting operations, at this time, the Company is not able to estimate or predict when and under what conditions operations will resume at Çöpler. For additional information on the Çöpler Incident, including a discussion of the associated risks, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed on February 18, 2025, and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, filed on May 6, 2025, and June 30, 2025, filed on August 5, 2025.



SSR Mining Inc.						PAGE 8

Conference Call Information

This news release should be read in conjunction with the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website at www.sec.gov or www.ssrmining.com.

•Conference call and webcast: Tuesday, August 5, 2025, at 5:00 pm EDT.

Toll-free in U.S. and Canada: +1 (833) 752-3757

All other callers: +1 (647) 846-8744

For the webcast or to register for expedited access to the call: ir.ssrmining.com/investors/events.

•The webcast will be available on our website. Audio replay will be available for two weeks by dialing:

Toll-free in U.S. and Canada: +1 (855) 669-9658, replay code 9075993

All other callers: +1 (412) 317-0088, replay code 9075993

About SSR Mining

SSR Mining is listed under the ticker symbol SSRM on the Nasdaq and the TSX.

For more information, please visit: www.ssrmining.com.

E-Mail: invest@ssrmining.com

Phone: +1 (888) 338-0046



SSR Mining Inc.						PAGE 9

Cautionary Note Regarding Forward-Looking Information and Statements:

Except for statements of historical fact relating to us, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information may be contained in this document and our other public filings. Forward-looking information relates to statements concerning our outlook and anticipated events or results and in some cases, can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts.

Forward-looking information and statements in this news release are based on certain key expectations and assumptions made by us. Although we believe that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include, but are not limited to: local and global political and economic conditions; governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; developments with respect to global pandemics, including the duration, severity and scope of a pandemic and potential impacts on mining operations; risks and uncertainties resulting from the incident at Çöpler described in our Annual Report on Form 10-K for the year ended December 31, 2024; and other risk factors detailed from time to time in our reports filed with the Securities and Exchange Commission on EDGAR and the Canadian securities regulatory authorities on SEDAR.

Forward-looking information and statements in this news release include any statements concerning, among other things: all information related to the Company’s Çöpler operations, including timelines, outlook, preliminary costs, remediation plans, and possible restart plans; forecasts and outlook; preliminary cost reporting in this document; timing, production, operating, cost, and capital expenditure guidance; our operational and development targets and catalysts and the impact of any suspensions on operations; the results of any gold reconciliations; the ability to discover additional oxide gold ore; the generation of free cash flow and payment of dividends; matters relating to proposed exploration; communications with local stakeholders; maintaining community and government relations; negotiations of joint ventures; negotiation and completion of transactions; commodity prices; Mineral Resources, Mineral Reserves, conversion of Mineral Resources, realization of Mineral Reserves, and the existence or realization of Mineral Resource estimates; the development approach; the timing and amount of future production; the timing of studies, announcements, and analysis; the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans; receipt of regulatory approvals; timing and impact surrounding suspension or interruption of operations as a result of regulatory requirements or actions by governmental authority; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions.

Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of our filings on EDGAR and SEDAR, and include: the assumptions made in respect of the Company’s Çöpler operations; the inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders; maintaining community and governmental relations; status of negotiations of joint ventures; weather conditions at our operations; commodity prices; the ultimate determination of and realization of Mineral Reserves; existence or realization of Mineral Resources; the development approach; availability and receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize, and execute relevant agreements; the Company’s ability to efficiently integrate acquired mines and businesses and to manage the costs related to any such integration, or to retain key technical, professional or management personnel; lack of social opposition to our mines or facilities; lack of legal challenges with respect to our properties; the timing and amount of future production; the ability to meet production, cost, and capital expenditure targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process, and sell mineral products on economically favorable terms; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, geopolitical, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

The above list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons including, but not limited to, risks and uncertainties disclosed in our filings on our website at www.ssrmining.com, on SEDAR at www.sedarplus.ca, and on EDGAR at www.sec.gov and other unforeseen events or circumstances. Other than as required by law, we do not intend, and undertake no obligation to update any forward-looking information to reflect, among other things, new information or future events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.



SSR Mining Inc.						PAGE 10

Cautionary Note Regarding Non-GAAP Measures

We have included certain non-GAAP performance measures throughout this document. These performance measures are employed by us to measure our operating and economic performance internally and to assist in decision-making, as well as to provide key performance information to senior management. We believe that, in addition to conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use this information to evaluate our operating and financial performance; however, these non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definitions of our non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. These non-GAAP measures should be read in conjunction with our condensed consolidated interim financial statements.

Cash costs, AISC per ounce sold, and free cash flow are Non-GAAP Measures with no standardized definition under U.S. GAAP.

Non-GAAP Measure – Net Cash

Net cash (debt) are used by management and investors to measure the Company's underlying operating performance. The Company believes that net cash (debt) is a useful measure for shareholders as it helps evaluate liquidity and available cash.

The following table provides a reconciliation of cash and cash equivalents to net cash:


	As of
(in thousands)		June 30, 2025		December 31, 2024
Cash and cash equivalents		$	412,104	$	387,882
Restricted cash		$	—	$	—
Total Cash		$	412,104	$	387,882

Face Value of 2019 Convertible Notes		$	230,000	$	230,000
Other Debt		$	—	$	—
Total Debt		$	230,000	$	230,000

Net Cash (Debt)		$	182,104	$	157,882

In addition to net cash and net debt, the Company also uses Total liquidity to measure its financial position. Total liquidity is calculated as Cash and cash equivalents plus Restricted cash and borrowing capacity under current revolving credit facilities, including accordion features. As of June 30, 2025, no borrowings were outstanding on the Company’s $400 million credit facility with a $100 million accordion feature.

The following table provides a reconciliation of Cash and cash equivalents to Total liquidity:


	As of
(in thousands)		June 30, 2025		December 31, 2024
Cash and cash equivalents		$	412,104	$	387,882
Restricted cash		$	—	$	—
Total cash		$	412,104	$	387,882
Borrowing capacity on credit facility		$	400,000	$	400,000
Borrowing capacity on accordion feature of credit facility		$	100,000	$	100,000
Total liquidity (11)		$	912,104	$	887,882

(11)Excludes $0.4 million in letters of credit. Inclusive of these letters of credit, total liquidity is $911.7 million.



SSR Mining Inc.						PAGE 11

Non-GAAP Measure - Cash Costs and AISC

Cash Costs and All-In Sustaining Costs (“AISC”) per payable ounce of gold and respective unit cost measures are non-U.S. GAAP metrics developed by the World Gold Council to provide transparency into the costs associated with producing gold and provide a standard for comparison across the industry. The World Gold Council is a market development organization for the gold industry.

The Company uses cash costs per ounce of precious metals sold and AISC per ounce of precious metals to monitor its operating performance internally. The most directly comparable measure prepared in accordance with GAAP is cost of sales. The Company believes this measure provides investors and analysts with useful information about its underlying cash costs of operations and the impact of byproduct credits on its cost structure. The Company also believes it is a relevant metric used to understand its operating profitability. When deriving the cost of sales associated with an ounce of precious metal, the Company includes by-product credits, which allows management and other stakeholders to assess the net costs of gold and silver production.

AISC includes total cost of sales incurred at the Company's mining operations, which forms the basis of cash costs. Additionally, the Company includes sustaining capital expenditures, sustaining mine-site exploration and evaluation costs, reclamation cost accretion and amortization, and general and administrative expenses. This measure seeks to reflect the ongoing cost of gold and silver production from current operations; therefore, growth capital is excluded. The Company determines sustaining capital to be capital expenditures that are necessary to maintain current production and execute the current mine plan. The Company determines growth capital to be those payments used to develop new operations or related to projects at existing operations where those projects will materially benefit the operation.

The Company believes that AISC provides additional information to management and stakeholders that provides visibility to better define the total costs associated with production and better understanding of the economics of the Company's operations and performance compared to other producers. In deriving the number of ounces of precious metal sold, the Company considers the physical ounces available for sale after the treatment and refining process, commonly referred to as payable metal, as this is what is sold to third parties.

The following tables provide a reconciliation of cost of sales to cash costs and AISC used in the calculation of 2025 cost guidance:

(operating guidance 100% basis) (12)

Marigold

CC&V (13)

Seabee

Puna

Corporate

Total

(Excluding Çöpler)

Çöpler

Consolidated

Gold Production

koz

160 – 190

90 – 110

70 – 80

—

320 – 380

—

320 – 380

Silver Production

Moz

—

8.00 – 8.75

—

8.00 – 8.75

—

8.00 – 8.75

Gold Equivalent Production

koz

160 – 190

90 – 110

70 – 80

90 – 100

—

410 – 480

—

410 – 480

Gold Sold

koz

160 – 190

90 – 110

70 – 80

—

320 – 380

—

320 – 380

Silver Sold

Moz

—

8.00 – 8.75

—

8.00 – 8.75

—

8.00 – 8.75

Gold Equivalent Sold

koz

160 – 190

90 – 110

70 – 80

90 – 100

—

410 – 480

—

410 – 480

Cost of Sales (GAAP)

245 – 298

132 – 166

86 – 102

100 – 123

—

563 – 689

—

563 – 689

By-Product Credits + Treatment & Refining Costs

—

(1)

—

(8)

—

(10)

—

(10)

Cash Cost (non-GAAP) (14)

245 – 298

131 – 165

86 – 102

92 – 114

—

554 – 679

—

554 – 679

Sustaining Capital Expenditures (15)

—

119

—

119

Reclamation Cost Accretion & Amortization

—

General & Administrative

—

60 – 65

—

60 – 65

Share-Based Compensation (16)

—

30 – 35

—

30 – 35

Care & Maintenance (17)

—

80 – 100

All-In Sustaining Cost (non-GAAP) (14)

293 – 346

166 – 201

121 – 137

115 – 138

90 – 100

786 – 921

80 – 100

866 – 1,021

Cost of Sales per Ounce (GAAP)

$/oz

1,530 – 1,570

1,470 – 1,510

1,230 – 1,270

12.50 – 14.00

—

1,375 – 1,435

—

1,375 – 1,435

Cash Cost per Ounce (non-GAAP) (14)

$/oz

1,530 – 1,570

1,460 – 1,500

1,230 – 1,270

11.35 – 12.85

—

1,350 – 1,410

—

1,350 – 1,410

All-In Sustaining Cost per Ounce (non-GAAP) (14)

$/oz

1,800 – 1,840

1,710 – 1,750

14.25 – 15.75

—

1,890 – 1,950

—

2,090 – 2,150

(12)Figures may not add due to rounding.

(13)CC&V figures are presented as of February 28, 2025 onwards to account for attributable production to SSR Mining following the close of the CC&V transaction. Prior to the closing of the acquisition, CC&V produced 28,000 ounces of gold. For the full year, inclusive of ounces produced under Newmont’s ownership, CC&V is expected to produce between 118,000 and 138,000 ounces of gold.

(14)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 its mines. AISC includes reclamation cost accretion and amortization and certain lease payments. Total AISC includes G&A costs and share-based compensation, but excludes any care & maintenance costs incurred at Çöpler. Consolidated AISC reflects cash care & maintenance costs of approximately $20 - $25 million per quarter incurred at Çöpler until the mine is restarted.

(15)Refer to “2025 Capital Guidance” table within our press release dated March 31, 2025 for a breakdown of sustaining exploration and evaluation expenditures. No material capital expenditures are expected at Çöpler until the mine is restarted.

(16)Share-based compensation guidance uses a reference price of approximately US$15 per share.

(17)Reflects the cash component of care & maintenance expenses that would be incurred at Çöpler in the event the operation did not restart within 2025. SSR Mining continues to work closely with the relevant authorities in Türkiye to advance the restart of the Çöpler mine, but at this time the Company is not able to estimate or predict when and under what conditions operations will resume.



SSR Mining Inc.						PAGE 12

The following tables provide a reconciliation of Cost of sales to cash costs and AISC:


	Three Months Ended June 30, 2025
	Marigold		CC&V		Seabee		Puna		Corporate		Total		Çöpler		Consolidated
Cost of sales (GAAP) (18)	$	56,376	$	50,003	$	18,473	$	38,096	$	—	$	162,948	$	—	$	162,948
By-product credits	$	(33)	$	(501)	$	(15)	$	(12,146)	$	—	$	(12,695)	$	—	$	(12,695)
Treatment and refining charges	$	92	$	—	$	23	$	(669)	$	—	$	(554)	$	—	$	(554)
Cash costs (non-GAAP)	$	56,435	$	49,502	$	18,481	$	25,281	$	—	$	149,699	$	—	$	149,699
Sustaining capital and lease related expenditures	$	11,770	$	6,656	$	8,762	$	4,023	$	—	$	31,211	$	2,368	$	33,579
Sustaining exploration and evaluation expense	$	1,447	$	—	$	—	$	—	$	—	$	1,447	$	—	$	1,447
Care and maintenance (19)	$	—	$	—	$	234	$	—	$	—	$	234	$	21,802	$	22,036
Reclamation cost accretion and amortization	$	691	$	3,838	$	555	$	2,545	$	—	$	7,629	$	423	$	8,052
General and administrative expense and stock-based compensation expense (20)	$	—	$	—	$	—	$	—	$	26,634	$	26,634	$	—	$	26,634
Total AISC (non-GAAP)	$	70,343	$	59,996	$	28,032	$	31,849	$	26,634	$	216,854	$	24,593	$	241,447

Gold sold (oz)		35,589		44,800		10,350		—		—		90,739		—		90,739
Silver sold (oz)		—		—		—	2,534,393			—	2,534,393			—		2,534,393
Gold equivalent sold (oz) (21)		35,589		44,800		10,350		25,997		—		116,736		—		116,736

Cost of sales per gold ounces sold	$	1,584	$	1,116	$	1,785		N/A		N/A		N/A		N/A		N/A
Cost of sales per silver ounces sold		N/A		N/A		N/A	$	15.03		N/A		N/A		N/A		N/A
Cost of sales per gold equivalent ounce sold	$	1,584	$	1,116	$	1,785	$	1,465		N/A	$	1,396		N/A	$	1,396
Cash cost per gold ounce sold	$	1,586	$	1,105	$	1,786		N/A		N/A		N/A		N/A		N/A
Cash cost per silver ounce sold		N/A		N/A		N/A	$	9.98		N/A		N/A		N/A		N/A
Cash cost per gold equivalent ounce sold	$	1,586	$	1,105	$	1,786	$	972		N/A	$	1,282		N/A	$	1,282
AISC per gold ounce sold	$	1,977	$	1,339	$	2,708		N/A		N/A		N/A		N/A		N/A
AISC per silver ounce sold		N/A		N/A		N/A	$	12.57		N/A		N/A		N/A		N/A
AISC per gold equivalent ounce sold	$	1,977	$	1,339	$	2,708	$	1,225		N/A	$	1,858		N/A	$	2,068


	Three Months Ended June 30, 2024
	Marigold		CC&V		Seabee		Puna		Corporate		Total		Çöpler		Consolidated
Cost of sales (GAAP) (18)	$	39,237		N/A	$	17,275	$	40,070	$	—	$	96,582	$	—	$	96,582
By-product credits	$	(61)		N/A	$	(14)	$	(13,783)	$	—	$	(13,858)	$	—	$	(13,858)
Treatment and refining charges	$	74		N/A	$	45	$	2,038	$	—	$	2,157	$	—	$	2,157
Cash costs (non-GAAP)	$	39,250		N/A	$	17,306	$	28,325	$	—	$	84,881	$	—	$	84,881
Sustaining capital and lease related expenditures	$	12,432		N/A	$	6,201	$	3,550	$	—	$	22,183	$	4,602	$	26,785
Sustaining exploration and evaluation expense	$	274		N/A	$	—	$	—	$	—	$	274	$	—	$	274
Care and maintenance (19)	$	—		N/A	$	—	$	—	$	—	$	—	$	17,283	$	17,283
Reclamation cost accretion and amortization	$	605		N/A	$	922	$	5,926	$	—	$	7,453	$	493	$	7,946
General and administrative expense and stock-based compensation expense (20)	$	—		N/A	$	—	$	—	$	13,452	$	13,452	$	—	$	13,452
Total AISC (non-GAAP)	$	52,561		N/A	$	24,429	$	37,801	$	13,452	$	128,243	$	22,378	$	150,621

Gold sold (oz)		25,450		N/A		15,020		—		—		40,470		—		40,470
Silver sold (oz)		—		N/A		—	2,489,064			—	2,489,064			—		2,489,064
Gold equivalent sold (oz) (21)		25,450		N/A		15,020		30,720		—		71,190		—		71,190

Cost of sales per gold ounces sold	$	1,542		N/A	$	1,150		N/A		N/A		N/A		N/A		N/A
Cost of sales per silver ounces sold		N/A		N/A		N/A	$	16.10		N/A		N/A		N/A		N/A
Cost of sales per gold equivalent ounce sold	$	1,542		N/A	$	1,150	$	1,304		N/A	$	1,357		N/A	$	1,357
Cash cost per gold ounce sold	$	1,542		N/A	$	1,152		N/A		N/A		N/A		N/A		N/A
Cash cost per silver ounce sold		N/A		N/A		N/A	$	11.38		N/A		N/A		N/A		N/A
Cash cost per gold equivalent ounce sold	$	1,542		N/A	$	1,152	$	922		N/A	$	1,192		N/A	$	1,192
AISC per gold ounce sold	$	2,065		N/A	$	1,626		N/A		N/A		N/A		N/A		N/A
AISC per silver ounce sold		N/A		N/A		N/A	$	15.19		N/A		N/A		N/A		N/A
AISC per gold equivalent ounce sold	$	2,065		N/A	$	1,626	$	1,231		N/A	$	1,801		N/A	$	2,116

(18)Excludes depreciation, depletion, and amortization.

(19)Care and maintenance expense only includes direct costs not associated with environmental reclamation and remediation costs, as depreciation is not included in the calculation of AISC.

(20)General and administrative expense for the three months ended June 30, 2025 included $6.4 million in share based compensation expense.

(21)GEOs are calculated using the silver ounces sold multiplied by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include copper, lead, or zinc as they are considered by-products. GEOs sold may not re-calculate based on amounts presented in this table due to rounding.



SSR Mining Inc.						PAGE 13


	Six Months Ended June 30, 2025
	Marigold		CC&V (22)		Seabee		Puna		Corporate		Total		Çöpler		Consolidated
Cost of sales (GAAP) (23)	$	115,102	$	67,968	$	41,604	$	74,915	$	—	$	299,589	$	—	$	299,589
By-product credits	$	(71)	$	(714)	$	(40)	$	(23,255)	$	—	$	(24,080)	$	—	$	(24,080)
Treatment and refining charges	$	158	$	5	$	66	$	(344)	$	—	$	(115)	$	—	$	(115)
Cash costs (non-GAAP)	$	115,189	$	67,259	$	41,630	$	51,316	$	—	$	275,394	$	—	$	275,394
Sustaining capital and lease related expenditures	$	23,439	$	7,667	$	20,510	$	5,977	$	—	$	57,593	$	4,621	$	62,214
Sustaining exploration and evaluation expense	$	1,674	$	—	$	—	$	—	$	—	$	1,674	$	—	$	1,674
Care and maintenance (24)	$	—	$	—	$	234	$	—	$	—	$	234	$	42,358	$	42,592
Reclamation cost accretion and amortization	$	1,363	$	5,117	$	1,388	$	5,804	$	—	$	13,672	$	845	$	14,517
General and administrative expense and stock-based compensation expense (25)	$	—	$	—	$	—	$	—	$	50,529	$	50,529	$	—	$	50,529
Total AISC (non-GAAP)	$	141,665	$	80,043	$	63,762	$	63,097	$	50,529	$	399,096	$	47,824	$	446,920

Gold sold (oz)		75,997		56,100		36,350		—		—		168,447		—		168,447
Silver sold (oz)		—		—		—	4,908,738			—	4,908,738			—		4,908,738
Gold equivalent sold (oz) (26)		75,997		56,100		36,350		52,396		—		220,843		—		220,843

Cost of sales per gold ounces sold	$	1,515	$	1,212	$	1,145		N/A		N/A		N/A		N/A		N/A
Cost of sales per silver ounces sold		N/A		N/A		N/A	$	15.26		N/A		N/A		N/A		N/A
Cost of sales per gold equivalent ounce sold	$	1,515	$	1,212	$	1,145	$	1,430		N/A	$	1,357		N/A	$	1,357
Cash cost per gold ounce sold	$	1,516	$	1,199	$	1,145		N/A		N/A		N/A		N/A		N/A
Cash cost per silver ounce sold		N/A		N/A		N/A	$	10.45		N/A		N/A		N/A		N/A
Cash cost per gold equivalent ounce sold	$	1,516	$	1,199	$	1,145	$	979		N/A	$	1,247		N/A	$	1,247
AISC per gold ounce sold	$	1,864	$	1,427	$	1,754		N/A		N/A		N/A		N/A		N/A
AISC per silver ounce sold		N/A		N/A		N/A	$	12.85		N/A		N/A		N/A		N/A
AISC per gold equivalent ounce sold	$	1,864	$	1,427	$	1,754	$	1,204		N/A	$	1,807		N/A	$	2,024


	Six Months Ended June 30, 2024
	Marigold		CC&V		Seabee		Puna		Corporate		Total		Çöpler		Consolidated
Cost of sales (GAAP) (23)	$	88,308		N/A	$	41,708	$	68,044	$	—	$	198,060	$	24,423	$	222,483
By-product credits	$	(62)		N/A	$	(39)	$	(22,848)	$	—	$	(22,949)	$	(345)	$	(23,294)
Treatment and refining charges	$	147		N/A	$	80	$	3,520	$	—	$	3,747	$	351	$	4,098
Cash costs (non-GAAP)	$	88,393		N/A	$	41,749	$	48,716	$	—	$	178,858	$	24,429	$	203,287
Sustaining capital and lease related expenditures	$	14,737		N/A	$	21,106	$	6,909	$	—	$	42,752	$	9,689	$	52,441
Sustaining exploration and evaluation expense	$	628		N/A	$	—	$	—	$	—	$	628	$	—	$	628
Care and maintenance (24)	$	—		N/A	$	—	$	—	$	—	$	—	$	24,961	$	24,961
Reclamation cost accretion and amortization	$	1,540		N/A	$	1,849	$	8,075	$	—	$	11,464	$	978	$	12,442
General and administrative expense and stock-based compensation expense (25)	$	—		N/A	$	—	$	—	$	26,312	$	26,312	$	—	$	26,312
Total AISC (non-GAAP)	$	105,298		N/A	$	64,704	$	63,700	$	26,312	$	260,014	$	60,057	$	320,071

Gold sold (oz)		62,319		N/A		43,470		—		—		105,789		23,960		129,749
Silver sold (oz)		—		N/A		—	4,147,685			—	4,147,685			—		4,147,685
Gold equivalent sold (oz) (26)		62,319		N/A		43,470		49,115		—		154,904		23,960		178,864

Cost of sales per gold ounces sold	$	1,417		N/A	$	959		N/A		N/A		N/A	$	1,019		N/A
Cost of sales per silver ounces sold		N/A		N/A		N/A	$	16.41		N/A		N/A		N/A		N/A
Cost of sales per gold equivalent ounce sold	$	1,417		N/A	$	959	$	1,385		N/A	$	1,279	$	1,019	$	1,244
Cash cost per gold ounce sold	$	1,418		N/A	$	960		N/A		N/A		N/A	$	1,020		N/A
Cash cost per silver ounce sold		N/A		N/A		N/A	$	11.75		N/A		N/A		N/A		N/A
Cash cost per gold equivalent ounce sold	$	1,418		N/A	$	960	$	992		N/A	$	1,155	$	1,020	$	1,137
AISC per gold ounce sold	$	1,690		N/A	$	1,488		N/A		N/A		N/A	$	2,507		N/A
AISC per silver ounce sold		N/A		N/A		N/A	$	15.36		N/A		N/A		N/A		N/A
AISC per gold equivalent ounce sold	$	1,690		N/A	$	1,488	$	1,297		N/A	$	1,679	$	2,507	$	1,789

(22)CC&V data presented represents the period from February 28, 2025 to June 30, 2025, the period for which the Company was entitled to the economic benefits of CC&V following the acquisition.

(23)Excludes depreciation, depletion, and amortization.

(24)Care and maintenance expense only includes direct costs not associated with environmental reclamation and remediation costs, as depreciation is not included in the calculation of AISC.

(25)General and administrative expense for the six months ended June 30, 2025 included $15.8 million in share based compensation expense.

(26)GEOs are calculated using the silver ounces sold multiplied by the ratio of the silver price to the gold price, using the average LBMA prices for the period. The Company does not include copper, lead, or zinc as they are considered by-products. GEOs sold may not re-calculate based on amounts presented in this table due to rounding.



SSR Mining Inc.						PAGE 14

Non-GAAP Measure - Adjusted Net Income (Loss) Attributable to SSR Mining Shareholders and Adjusted Net Income (Loss) Per Share Attributable to SSR Mining Shareholders

Adjusted attributable net income (loss) and adjusted attributable net income (loss) per share are used by management to measure the Company's underlying operating performance. We believe this measure is also useful for shareholders to assess the Company’s operating performance. The most directly comparable financial measures prepared in accordance with GAAP are net income (loss) attributable to SSR Mining shareholders and net income (loss) per share attributable to SSR Mining shareholders. Adjusted net income (loss) attributable to SSR Mining shareholders is defined as net income (loss) adjusted to exclude the after-tax impact of specific items that are significant, but not reflective of the Company's underlying operations, including the expected impacts of Çöpler Incident; inflationary impacts on tax balances; transaction, integration; and other non-recurring items.

The following table provides a reconciliation of Net income (loss) attributable to SSR Mining shareholders to adjusted net income (loss) attributable to SSR Mining shareholders:


(in thousands of US dollars, except per share data)	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net income (loss) attributable to SSR Mining shareholders (GAAP)	$	90,075	$	9,693	$	148,856	$	(277,389)
Interest saving on 2019 notes, net of tax	$	1,247	$	—	$	2,479	$	—
Net income (loss) used in the calculation of diluted net income per share	$	91,322	$	9,693	$	151,335	$	(277,389)

Weighted-average shares used in the calculation of net income (loss) per share
Basic		202,774		202,133		202,598		202,244
Diluted		216,989		202,407		216,691		202,244

Net income (loss) per share attributable to SSR Mining shareholders (GAAP)
Basic	$	0.44	$	0.05	$	0.73	$	(1.37)
Diluted	$	0.42	$	0.05	$	0.70	$	(1.37)

Adjustments:
CC&V transaction and integration costs	$	4,958	$	—	$	11,753	$	—
Effects of the Çöpler Incident (27)	$	52,179	$	—	$	53,430	$	321,954
Insurance proceeds received related to the Çöpler Incident (28)	$	(35,527)	$	—	$	(35,527)	$	—
Changes in fair value of marketable securities	$	(2,065)	$	(3,602)	$	(3,721)	$	(6,419)
Income tax impact related to above adjustments	$	1,857	$	573	$	954	$	1,021
Inflationary impacts on tax balances	$	(1,403)	$	825	$	(4,098)	$	(9,168)


Adjusted net income attributable to SSR Mining shareholders (Non-GAAP)	$	110,074	$	7,489	$	171,647	$	29,999

Adjusted net income per share attributable to SSR Mining shareholders (Non-GAAP)
Basic	$	0.54	$	0.04	$	0.85	$	0.15
Diluted (29)	$	0.51	$	0.04	$	0.80	$	0.15

(23)For the three months ended June 30, 2025, the effects of the Çöpler Incident represent (1) reclamation costs of $7.5 million (presented net of pre-tax attributable non-controlling interest of $1.9 million) and remediation costs of $42.8 million (presented net of pre-tax attributable non-controlling interest of $10.7 million) and (2) contingencies and expenses of $1.8 million (presented net of pre-tax attributable non-controlling interest of $0.5 million).

For the six months ended June 30, 2025, the effects of the Çöpler Incident represent (1) reclamation costs of $7.5 million (presented net of pre-tax attributable non-controlling interest of $1.9 million) and remediation costs of $42.8 million (presented net of pre-tax attributable non-controlling interest of $10.7 million) and (2) contingencies and expenses of $3.1 million (presented net of pre-tax attributable non-controlling interest of $0.8 million).

For the six months ended June 30, 2024, the effects of the Çöpler Incident represent (1) reclamation costs of $9.0 million (presented net of pre-tax attributable non-controlling interest of $2.2 million) and remediation costs of $209.3 million (presented net of pre-tax attributable non-controlling interest of $52.4 million); (2) impairment charges of $91.4 million (presented net of pre-tax attributable non-controlling interest of $22.8 million) related to plans to permanently close the heap leach pad; and (3) contingencies and expenses of $12.3 million (presented net of pre-tax attributable non-controlling interest of $3.0 million).

(24)For the three and six months ended June 30, 2025, represents $35.5 million (presented net of pre-tax attributable non-controlling interest of $8.9 million) of business interruption insurance proceeds received associated with the Çöpler Incident.

(25)Adjusted net income (loss) per diluted share attributable to SSR Mining shareholders is calculated using diluted common shares, which are calculated in accordance with GAAP. For the three months ended June 30, 2024, $1.2 million interest saving on 2019 Notes, net of tax, and dilutive potential shares of approximately 12.9 million were excluded from the computation of diluted loss per common share attributable to SSR Mining shareholders in the Condensed Consolidated Statement of Operations as they were antidilutive. For the six months ended June 30, 2024, $2.5 million interest saving on 2019 Notes, net of tax, and dilutive potential shares of approximately 12.9 million were excluded from the computation of diluted loss per common share attributable to SSR Mining shareholders in the Condensed Consolidated Statement of Operations as they were antidilutive. These interest savings and shares were included in the computation of adjusted net income (loss) per diluted share attributable to SSR Mining shareholders for the six months ended June 30, 2024.



SSR Mining Inc.						PAGE 15

Non-GAAP Measure - Free Cash Flow, Cash Flow From Operating Activities Before Changes in Working Capital, and Free Cash Flow

Before Changes in Working Capital

The Company uses free cash flow, cash flow from operating activities before changes in working capital, and free cash flow before changes in working capital to supplement information in its condensed consolidated financial statements. The most directly comparable financial measures prepared in accordance with GAAP is cash provided by operating activities. The Company believes that in addition to conventional measures prepared in accordance with US GAAP, certain investors and analysts use this information to evaluate the ability of the Company to generate cash flow after capital investments and build the Company's cash resources. The Company calculates free cash flow by deducting cash capital spending from cash generated by operating activities. The Company does not deduct payments made for business acquisitions.

The following table provides a reconciliation of cash provided by operating activities to free cash flow:


(in thousands of US dollars, except per share data)	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Cash provided by operating activities (GAAP)	$	157,841	$	(78,132)	$	242,646	$	(53,501)
Expenditures on mineral properties, plant, and equipment	$	(59,455)	$	(38,176)	$	(104,962)	$	(72,211)
Free cash flow (non-GAAP)	$	98,386	$	(116,308)	$	137,684	$	(125,712)

We also present operating cash flow before working capital adjustments and free cash flow before working capital adjustments as non-GAAP cash flow measures to supplement our operating cash flow and free cash flow (non-GAAP) measures. We believe presenting both operating cash flow and free cash flow before working capital adjustments, which reflects an exclusion of net changes in operating assets and liabilities, will be useful for investors because it presents cash flow that is actually generated from the continuing business. The Company calculates cash generated by (used in) operating activities before changes in working capital by adjusting cash generated by (used in) operating activities by the net change in operating assets and liabilities. The Company also calculates free cash flow before changes in working capital by deducting cash capital spending from cash flow from operating activities before changes in working capital.

The following table provides a reconciliation of cash provided by operating activities to cash generated by (used in) operating activities before changes in working capital, and free cash flow before changes in working capital:


(in thousands of US dollars, except per share data)	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Cash provided by (used in) operating activities (GAAP)	$	157,841	$	(78,132)	$	242,646	$	(53,501)
Net change in operating assets and liabilities	$	38,175	$	55,030	$	58,324	$	62,463
Cash provided by (used in) operating activities before changes in working capital (non-GAAP)	$	196,016	$	(23,102)	$	300,970	$	8,962
Expenditures on mineral properties, plant, and equipment	$	(59,455)	$	(38,176)	$	(104,962)	$	(72,211)
Free cash flow before changes in working capital (non-GAAP)	$	136,561	$	(61,278)	$	196,008	$	(63,249)



SSR Mining Inc.						PAGE 16

SSR MINING INC. 8-K