Slide 1: Scotiabank Mining Conference
SCOTIABANK MINING CONFERENCE December 2020
Slide 2: Cautionary Notes
Cautionary Notes Cautionary Note Regarding Forward-Looking Statements Except for statements of historical fact relating to us, certain statements contained in this presentation constitute forward-looking information, future oriented financial information, or financial outlooks (collectively “forward
Slide 3: Diversified Portfolio of High Quality, Long-Life Assets
Diversified Portfolio of High Quality, Long-Life Assets Operations and projects across six jurisdictions High Quality ▪ 2020 production: 680 – 760 koz AuEq (1) Operations Projects Diversified ▪ 9+ Moz AuEq Mineral Reserves (2) Portfolio ▪ 21+ year cornerstone asset life (3) Seabee ▪ Peer leading fre
Slide 4: Developing a Sustainable Legacy
Developing a Sustainable Legacy Successful culture focused on discipline and integrity (8) Environmental Safe Production Governance, Responsibility Social Performance and Diversity ✓ Zero significant environmental ✓ Zero fatalities ✓ Material investment in incidents or spills communities ✓ COVID-19
Slide 5: COVID-19 Response and Impact
COVID-19 Response and Impact Protection of our employees & communities is our highest priority COVID-19 Management Plan ▪ To mitigate risks to communities, employees and our business, have implemented policies and protocols in response to the COVID-19 pandemic ▪ All operations continue to work with
Slide 6: Near-Term Priorities
Near-Term Priorities Operational delivery focused on free cash flow generation Near-Term Priorities 2020 Production Guidance (1) Operations Çöpler Au koz 310 – 360 ▪ Continued operational delivery across all mines ✓ Marigold Au koz 225 – 240 ▪ Health & safety focus across the portfolio ✓ Seabee Au k
Slide 7: Significant Financial Strength
Significant Financial Strength Robust balance sheet and credit metrics Over $770M of Consolidated Cash (6) Net Debt to 2021E EBITDA (10) Face Value Debt Maturity Interest Rate ($M) Market Capitalization (9) ~$4B Centamin (0.8x) Term Loan US$228 2023 LIBOR + 3.50% - 3.70% IAMGOLD Convertible Notes US
Slide 8: Capital Return Policy Announced
Capital Return Policy Announced Capital Allocation Strategy Base Dividend Continued investment in high-return growth Quarterly ‘Base Dividend’ of $0.05 per share Maintain peer leading financial strength Commencing in Q1 2020 Provide sustainable capital returns to shareholders Yield of approximately
Slide 9: Overview of Assets
MINING Overview of Assets
Slide 10: Çöpler: Q3 2020 Results
Çöpler: Q3 2020 Results Location: Turkey Stage: Production Ownership: 80% POX Plant Mining: Open pit Processing: Heap leach, POX Land: ~17,000 ha ▪ Strong YTD pre-tax cash flow generation of $214M ▪ YTD gold production of 244k ounces, on track for full year guidance ▪ Sulfide plant continues to effi
Slide 11: Çöpler District Master Plan (CDMP20): Overview
Çöpler District Master Plan (“CDMP20”): Overview The next step in defining district potential Scope of Work Çöpler District Map The CDMP20 includes analysis for two production scenarios: 1. Reserve Case (3) New Graphic ▪ Updates the Çöpler mine technical report based on operating experience ▪ Incorp
Slide 12: CDMP20: Reserve Case Summary
CDMP20: Reserve Case Summary Reserve and Resource Highlights (3) Reserve Case Summary (3) ▪ 4.0Moz Reserves Item Unit Reserve Case ▪ 22% increase in Mineral Reserves Oxide Processed ▪ 7.4Moz Measured & Indicated Resources Heap Leach Quantity kt 7,668 Gold Feed Grade g/t 1.22 ▪ 24% increase in M&I Mi
Slide 13: CDMP20: Reserve Case Valuation Sensitivities
CDMP20: Reserve Case Valuation Sensitivities After-Tax NPV Sensitivity (3) Long-Term Gold Price ($/oz) NPV (5%) Units $1,000 $1,200 $1,400 $1,585 $1,800 $2,000 Reserve Case $ billions $1.0 $1.3 $1.5 $1.7 $2.0 $2.2 $3.0 Reserve Case $2.5 $2.2 $2.0 $2.0 $1.7 NPV (5%) ($ billions) $1.5 $1.5 $1.3 $1.0 $
Slide 14: CDMP20: Reserve Case Increased Production
CDMP20: Reserve Case Increased Production Reserve Case Life of Mine Production Summary (3) 400 391 Average of 2020 – 2029 10 Year Profile: 241koz 350 25% increase in LOM production 330 (18) 316 and 24% increase in mine life versus remaining years of 300 2016 technical report 266 264 Gold Production
Slide 15: CDMP20: Alternate PEA Case Summary
CDMP20: Alternate PEA Case Summary Building a pathway to +300koz annual production in Turkey Reserve and Resource Highlights (3) PEA Case Summary (3,17) ▪ 4.0Moz Reserves Item Unit PEA Case ▪ 22% increase in Mineral Reserves Oxide Processed ▪ 7.4Moz Measured & Indicated Resources Heap Leach Quantity
Slide 16: CDMP20: Alternate PEA Case Valuation Sensitivities
CDMP20: Alternate PEA Case Valuation Sensitivities After-Tax NPV Sensitivity (3,17) Long-Term Gold Price ($/oz) NPV (5%) Units $1,000 $1,200 $1,400 $1,585 $1,800 $2,000 PEA Case $ billions $1.2 $1.6 $1.9 $2.2 $2.5 $2.7 $3.0 $2.7 PEA Case $2.5 $2.5 $2.2 $2.0 $1.9 NPV (5%) ($ billions) $1.6 $1.5 $1.2
Slide 17: CDMP20: Alternate PEA Case Potential Increased Production
CDMP20: Alternate PEA Case Potential Increased Production ‘Tier 1’ operation with additional upside PEA Case Life of Mine Production Summary (3,17) 400 391 Average of 2020 – 2029 10 Year Profile: 302koz 350 336 62% increase in LOM production 330 (18) 329 316 321 and 29% increase in mine life versus
Slide 18: CDMP20: Flotation Circuit
CDMP20: Flotation Circuit Low-capital intensity plant addition Flotation Circuit Addition Overview Main Benefits ▪ Incorporation of a new flotation circuit in the existing sulfide plant to upgrade sulfide ▪ Increases overall plant throughput rate and lowers operating sulfur to fully utilize POX auto
Slide 19: CDMP20: PEA Case Ardich Overview
CDMP20: PEA Case Ardich Overview Strong potential for resource growth Overview PEA Pit Design ▪ Ardich was discovered in August 2017 and is located 1.5 km north of Çakmaktepe and includes two areas: Main and East ▪ Current resource model, constructed by SSR Mining personnel, was completed in June 20
Slide 20: Marigold: Q3 2020 Results
Marigold: Q3 2020 Results Location: Nevada, USA Stage: Production Ownership: 100% Marigold Rope Shovel Mining: Open pit Processing: Run-of-mine, heap leach Land: ~20,000 ha ▪ Third consecutive quarter of >20 million tonnes of material moved ▪ Shorter haulage cycles & increased shovel fleet capacity
Slide 21: Seabee: Q3 2020 Results
Seabee: Q3 2020 Results Location: Saskatchewan, Canada Stage: Production Ownership: 100% Santoy Mine Mining: Underground Processing: Gravity concentration, Land: ~60,000 ha cyanide leaching (including earn-in) ▪ Fully ramped up from temporary COVID-19 suspension ▪ Restart of processing operations in
Slide 22: Puna: Q3 2020 Results
Puna: Q3 2020 Results Location: Argentina Stage: Production Ownership: 100% Chinchillas Mine Mining: Open pit Processing: Flotation Land: ~10,000 ha ▪ Fully ramped up from temporary COVID-19 suspensions ▪ Health and safety of employees and local communities our highest priority ▪ Significant ore sto
Slide 23: Appendix
MINING Appendix
Slide 24: Executive Team and Board of Directors
Executive Team and Board of Directors Depth of experience and track record of delivery Executive Team Rodney Antal Stewart Beckman Edward Farid Gregory Martin Michael Sparks President, Chief EVP, Chief EVP, Chief Corporate EVP, Chief EVP, Chief Legal & Executive Officer Operating Officer Development
Slide 25: C2 Copper Gold Porphyry - Below Çöpler Main Pit
C2 Copper Gold Porphyry - Below Çöpler Main Pit Intercept of 0.74% CuEq16 over 241.5m, including 1.77% CuEq16 Over 32m Main pit SSRM:TSX / NASDAQ, SSR:ASX PAGE 25
Slide 26: Q3 / YTD 2020 Highlights
Q3 / YTD 2020 Highlights Operational Growth Financial Production ▪ Completed at-market merger with ▪ Liquidity Alacer Gold ▪ On-track to meet 2020 updated ▪ Consolidated cash of $773M (6) production guidance ▪ Debt of $458M ▪ Q3 2020: 164 koz AuEq (full quarter of ▪ Çöpler District Technical Report
Slide 27: Selected Q3 2020 Financial Results
Selected Q3 2020 Financial Results Financial Highlights (12) EPS Bridge Units Q3 2020 Q3 2019 $0.60 Gold Equivalent Production oz 106,838 104,775 0.01 (0.02) 0.11 0.49 $0.50 Gold Sales oz 99,495 78,928 Silver Sales Moz 1.2 1.5 $0.40 0.06 Total Gold Equivalent Sales oz 115,312 95,112 0.14 Revenue $M
Slide 28: Endnotes
Endnotes 1. Please see our news release dated September 18, 2020. Gold equivalent production and AISC are based on a 74:1 gold to silver ratio. AISC is a non-GAAP financial measure. See "Cautionary Note Regarding Non-GAAP Measures” in this presentation. 2. Mineral Reserves and Mineral Resources for
Slide 29: SSR Mining Inc.
SSR Mining Inc. www.ssrmining.com Toll-free: +1 888.338.0046 Telephone: +1 604.689.3846 Email: invest@ssrmining.com