ADJUSTED ATTRIBUTABLE EPS OF $0.46 PER SHARE AND FREE CASH FLOW OF $100 MILLION

SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) reports consolidated financial results for the second quarter ended June 30, 2021. In addition, the Board of Directors declared a quarterly cash dividend of US$0.05 per common share, payable on September 13, 2021 to holders of record at the close of business on August 16, 2021. This dividend qualifies as an ‘eligible dividend’ for Canadian tax purposes.

Rod Antal, President and CEO said, “The second quarter of 2021 continued the strong operational and financial track record that built the reputation of SSR Mining. The Company delivered quarterly production of 199,673 gold equivalent ounces and first half production of 395,750 gold equivalent ounces, including record production from Seabee and Puna, record tonnes mined at Marigold and the continued outperformance of our flagship operation at Çöpler.

In addition to the solid production, SSR Mining delivered quarterly AISC of $961 per gold equivalent ounce. The strong margins further demonstrated our peer leading free cash flow yield as the Company generated $100 million of free cash flow in the quarter. That strong free cash flow supports our robust capital returns program, as we aggressively followed through on the share buyback program we announced in April, cumulatively returning approximately $125 million dollars overall to shareholders year-to-date. We continue to see opportunity for our shares to re-rate to a premium valuation that properly reflects our delivery of consistent operating performance, strong free cash flow, low capital intensity organic growth profile and sizeable capital returns.

We remain at the top of our peer group with respect to balance sheet strength, and in addition to the year-to-date capital returns we are well positioned to fund our large portfolio of organic growth opportunities across Turkey, the US and Canada. At Çöpler, the flotation plant construction was substantially completed during the second quarter and commissioning remains on track for Q3. A steady flow of updates are expected in the second half of the year detailing positive progress at development and exploration targets across Çöpler, Marigold and Seabee.”

Second Quarter 2021 Highlights:

(All figures are in U.S. dollars unless otherwise noted)

• Outstanding performance across all four operations: Delivered second quarter production of 199,673 gold equivalent ounces at AISC of $961 per gold equivalent ounce.⁽¹⁾ Year-to-date production of 395,750 gold equivalent ounces at AISC of $983 per gold equivalent ounce on track to meet full-year guidance ranges.⁽¹⁾
• Strong financial results and free cash flow: Generated cash flows from operating activities of $148.6 million and free cash flow of $100.4 million in the second quarter with year-to-date free cash flow of $177.0 million.⁽¹⁾ Reported second quarter attributable net income of $54.0 million, or $0.25 per share, and adjusted attributable net income of $101.0 million, or $0.46 per share.⁽¹⁾
• Execution of peer-leading capital returns program: At the end of Q2, dividends and share repurchases represented $92.2 million of shareholder returns. The Company continues to execute on the previously announced Normal Course Issuer Bid. From inception of the program on April 19, 2021 to the end of the quarter, the Company purchased 4,000,000 common shares for cancellation at an average share price of $17.55 per share. In addition, the Board declared the second quarterly cash dividend of $0.05 per share on August 4, 2021.
• Balance sheet continues to strengthen: Cash and cash equivalents balances remained strong at $870.4 million, following $70.3 million in share buybacks, $11.0 million in dividend payments to equity shareholders, while also reducing debt balances $17.5 million during the quarter.
• Çöpler delivered solid margins and progressed growth initiatives: Delivered gold production of 75,754 ounces in the second quarter, reporting AISC of $824 per ounce, driving robust margins.⁽¹⁾ Çöpler flotation plant construction was substantially completed on time and on budget in June 2021.
• Marigold achieves record material movement and improved grades drive performance: Delivered gold production of 57,892 ounces for the second quarter as the mine moved a record 25.0 million tonnes of material, due to shorter haulage cycles and stronger haul truck utilization rates. Stacked grades improved to 0.44 g/t in the quarter, driven by the planned mining of the higher-grade portions at Mackay 4 and Mackay 8.
• Seabee sets record for both quarterly and half-year production: Produced a quarterly record of 36,994 ounces of gold as head grades improved to 13.19 g/t. The higher-grade production resulted in cash costs of $377 per ounce and AISC of $570 per ounce in the quarter.⁽¹⁾
• Puna continues to deliver record production year-to-date: Produced 2.0 million ounces of silver at cash costs of $9.70 per ounce in the second quarter and AISC of $13.58 per ounce.⁽¹⁾ First-half production of 3.8 million ounces of silver represents an all-time record for the operation.
• Amended Credit Facility providing additional liquidity: On June 8, 2021, SSR Mining announced it amended its existing undrawn revolving credit facility (the “Facility”) with a syndicate of lenders on favorable terms, increasing the Facility size from $75 million to $200 million. The new Facility includes an upsized accordion feature from $25 million to $100 million and the term of the Facility has been extended by 4 years to June 8, 2025.
• Announced the sale of a non-core royalty portfolio: On July 29, 2021, the Company announced it had entered into a definitive agreement to sell a portfolio of royalty interests and deferred payments to EMX Royalty Corp. (“EMX”) for total consideration of $100 million. This consideration includes $33 million in cash, $33 million in EMX shares, and $34 million in deferred compensation payments to be delivered upon achievement of clearly defined project development milestones.

Financial and Operating Highlights

A summary of the Company’s consolidated financial and operating results for the three and six months ended June 30, 2021 and 2020 are presented below:

Dividend Declaration

The Board of Directors declared a quarterly cash dividend of US$0.05 per common share, payable on September 13, 2021 to holders of record at the close of business on August 16, 2021. This dividend qualifies as an ‘eligible dividend’ for Canadian income tax purposes.

The dividend payment applies to holders of SSR Mining’s common shares, which trade on the Toronto Stock Exchange and the Nasdaq under the symbol SSRM, and to holders of its CHESS Depositary Interests, which trade on the Australian Securities Exchange under the symbol SSR. Each CDI confers a beneficial interest in one common share. Therefore, CDI holders are entitled to a dividend calculated on the same basis as the holders of SSR Mining’s common shares.

SSR Mining has sought and been granted a temporary waiver of certain of the ASX Settlement Operating Rules. Under the authority of the waiver, the processing of conversions of common shares to CDIs, or CDIs to common shares, lodged on or after August 13, 2021, will be deferred until after the record date of August 16, 2021.

The key dates with respect to the dividend are as follows:

Payments to Canadian shareholders will be made in Canadian dollars based on the exchange rate on the record date as reported by the Bank of Canada. Payments to other shareholders will be made in U.S. dollars. For CDI holders, payments will be made in Australian dollars, and it is expected to be based on the prevailing exchange rate sourced from the wholesale foreign exchange market on or around 5 business days after the record date.

About SSR Mining

SSR Mining Inc. is a leading, free cash flow focused gold company with four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. In 2020, the four operating assets produced approximately 711,000 gold-equivalent ounces. SSR Mining is listed on the NASDAQ, the TSX, and on the ASX.