Ssr Mining Inc. · NASDAQ:SSRM

Ssr Mining — Investor Presentation (February 2024)

58 slides from Ssr Mining's investor presentation, Feb 13, 2024

  1. Slide 1: Business Outlook

    BUSINESS OUTLOOK DELIVERING CASH FLOW & A +20% INCREASE IN LIFE OF MINE PRODUCTION February 2024

  2. Slide 2: Cautionary Notes

    Cautionary Notes Cautionary Note Regarding Forward-Looking Statements Except for statements of historical fact relating to the Company, certain statements contained in this presentation constitute forward-looking information, future oriented financial information, or financial outlooks (collectively

  3. Slide 3: Table of Contents

    Table of Contents Introduction • Key Summary • Company Overview & Sustainability • 2024 & Multi-Year Outlook • Strategy & Capital Allocation Technical Report Summaries & Operations Overview • Çöpler • Marigold • Seabee • Puna • Hod Maden Closing Remarks SSRM:NASDAQ / TSX, SSR:ASX PAGE 3

  4. Slide 4: Introduction

    Introduction Rodney P. Antal Executive Chairman

  5. Slide 5: Key Takeaways From Today's Technical Report Teach-In

    Key Takeaways From Today’s Technical Report Teach-In Attractive Value, Strong Baseline Production & Fully Funded, High-Return Five-Year Growth 1. Net Asset Value Based On Reserves-Only of >$3Bn or ~$15/share, Increasing to >$4Bn or ~$20/share at Current Spot Metal Prices (1) 2. Five-Year Production

  6. Slide 6: Our Sustainability Vision: Living Our Values

    Our Sustainability Vision: Living Our Values Continuously Striving to Improve Performance in Focus Areas Responsible Engage & Invest in Environmental Stewards Local Communities • Continued implementation of enhanced water • $4.5 million in community investment in management plans targeting improved

  7. Slide 7: Diversified Portfolio of High Quality, Long-Life Assets

    Diversified Portfolio of High Quality, Long-Life Assets High Returning Development Projects to Deliver Meaningful Growth High Quality 4 Operations +14 year ~9Moz AuEq Sunrise Lake NSR Diversified in core operating Portfolio jurisdictions; >700koz weighted average mineral reserves, including Porky/Po

  8. Slide 8: Stable Near-Term Production Platform With Growth & FCF on the Horizon

    Stable Near-Term Production Platform With Compelling Growth & FCF on the Horizon Achieved Consolidated Production Guidance Targets in 11 of the Last 12 Years Commercial Production Five-Year Guidance at Çöpler Consolidated Production Increases 4% Over 5-yr Period as 900 MOE with Sulfide Plant Compare

  9. Slide 9: Five-Year Guidance Showcases Production Growth

    Five-Year Guidance Showcases Production Growth Near-Term Growth Cycle Supported By Solid Production Base & Ongoing Cash Flow Five-Year Production Outlook (1) 2024 Guidance (2) Consolidated AISC trending Hod towards <$1,300/oz Operating Guidance Çöpler Marigold Seabee Puna Maden Other Consolidated 10

  10. Slide 10: Strategy & Capital Allocation

    Strategy & Capital Allocation Rodney P. Antal F. Edward Farid Executive Chairman Executive Vice President, Chief Corporate Development Officer

  11. Slide 11: Balance Sheet Strength & Ongoing Cash Flow

    Significant Financial Strength Retained Through Growth Phase Growth Investment Can Be Fully Funded Through Existing Balance Sheet & Organic Cash Flow Balance Sheet Low Capital Sustainable Strength & Intensity Growth Capital Returns Ongoing Cash Flow Ongoing $992M Operating $200M - $300M ~$2Bn in Tot

  12. Slide 12: Committed to Continued Capital Returns Through Growth Cycle

    Committed to Continued Capital Returns Through Growth Cycle Track Record of Returning Capital to Shareholders; Shares Outstanding Reduced by 8% Since 2021 Minimum Projected  Building on three consecutive years of 2024 Capital Returns ~$670 million in free cash flow significant shareholder returns t

  13. Slide 13: Building on Proven History of Project Delivery and M&A

    Building on Proven History of Project Delivery and M&A Track Record of Execution in Project Construction and Value Accretive Transactions Delivering High-Return Projects (1) Building Value Through Disciplined M&A On Time & Budget (4) POX Plant (Çöpler) SSR Mining / Alacer Merger Hod Maden Acquisitio

  14. Slide 14: Delivering Value to Investors Through High-Return Projects

    Delivering Value to Investors Through High-Return Projects Hod Maden and Grind-Leach Circuit Both Projected to Deliver +30% IRRs Proven Track Record Of Delivering Development Pipeline Value Through Development Projects Grind-Leach Circuit Hod Maden (2) Çöpler Sulfide Plant +30% IRR (1) +30% IRR Tran

  15. Slide 15: Çakmaktepe Growth: Grind-Leach Circuit an Accretive Pathway

    Çakmaktepe Growth: Grind-Leach Circuit an Accretive Pathway Economic Value of Çakmaktepe Enhanced By Grind-Leach Investment (2) LOM 2021 TRS (3) 1.2Moz 1.7Moz Gold Average LOM Mineral Oxide Gold Reserves Recoveries: Production ~60% (1, 2) +75% +20% to 25% recovery +100% Grind-Leach Circuit LOM 3.0Mo

  16. Slide 16: High Margin Production Across the Portfolio

    High Margin Production Across the Portfolio Following Completion of Growth Projects, SSRM Will be One of the Industry’s Lowest Cost Producers Gold Industry Co-Product AISC Curve (1, 3) 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile $5,000 (<$1,291/oz) (<$1,555/oz) (<$1,033/oz) (>$1,555/oz) $4,5

  17. Slide 17: SSR Mining Valuation Not Reflecting Fully-Funded, Low-Risk Growth Ahead

    SSR Mining Valuation Not Reflecting Fully-Funded, Low-Risk Growth Ahead Balance Sheet, High-Return Growth & Continued Capital Returns Should Command A Premium Valuation Peer P/NAV Valuations Regis 1.1x Resource Conversion + Exploration Upside Alamos 1.0x Lundin Gold 1.0x Resource Conversion + Centam

  18. Slide 18: Technical Report Summaries & Operations Overview

    Technical Report Summaries & Operations Overview Bill MacNevin John Ebbett Executive Vice President, Operations and Sustainability Executive Vice President, Growth and Innovation

  19. Slide 19: 2023 Mineral Reserves Meaningfully Increased Through Hod Maden Acquisition

    2023 Mineral Reserves Meaningfully Increased Through Hod Maden Acquisition Mineral Reserve Highlights Year-Over-Year Changes in Gold Equivalent Mineral Reserves (koz AuEq) +9Moz AuEq Çöpler: Attributable Mineral Reserves increase 2% YoY, Attributable +1,250 including depletion, to 4.1Moz, driven by

  20. Slide 20: Çöpler

    Çöpler

  21. Slide 21: Çöpler: Flagship Asset With a 15+ Year Mine Life

    Çöpler: Flagship Asset With a 15+ Year Mine Life Operations Page on Website First Production From Çakmaktepe Delivered in the Third Quarter of 2023 Major Milestones Since 2009 2010 2013 2017 2019 2020 2021 2022 Q3 2023 Location: Erzincan, Türkiye Mining: Open Pit Processing: Heap Leach, Grind-Leach,

  22. Slide 22: Çöpler: 2023 Year-In-Review

    Çöpler: 2023 Year-In-Review Record Full-Year Sulfide Plant Throughput in 2023 2023 Highlights Sulfide plant delivers quarterly Çakmaktepe project delivered first ~10koz gold recovered from throughputs in excess of 8,000tpd, Successfully completed planned production in late September 2023; Çakmaktepe

  23. Slide 23: Çöpler: Updated Technical Report Summary Overview

    Çöpler: Updated Technical Report Summary Overview The Continued Evolution of a Cornerstone Asset Çöpler Life of Mine Production Summary TRS 2023 (3) Units 2024 – 2028 Life of Mine 525 Mining Average of 5-Year Profile: 299 koz Ore Mined kt 26,774 54,361 399 400 406 Waste Mined kt 237,430 519,659 399

  24. Slide 24: Çöpler: Technical Report Summary Sensitivities

    Çöpler: Technical Report Summary Sensitivities After-Tax NPV Sensitivity Cost Sensitivity LOM Gold Prices ($/oz) Change in Operating Costs NPV5% Units $1,420 $1,600 $1,960 $2,130 NPV5% Units Consensus (1) -15% -7.5% Base Case +7.5% +15% (-20%) (-10%) (+10%) (+20%) Çöpler $M $1,810 $1,727 $1,643 $1,5

  25. Slide 25: Grind-Leach Circuit Addition Drives Material Value Creation

    Grind-Leach Circuit Addition Drives Material Value Creation Continued Expansion of Çakmaktepe Mineral Reserves Drives Additional Investment Three processing streams to deliver production growth while supporting continued exploration success Recovery Method Sulfide Ore Crush Grind Float Carbon-In-Pul

  26. Slide 26: Çakmaktepe: Mineral Reserves Now Total 3 Million Ounces of Gold

    Çakmaktepe: Mineral Reserves Now Total 3 Million Ounces of Gold Mineral Reserve Increases by 75% Since 2021 Technical Report Summary (100% Basis) 2023 TRS 2021 TRS Major Milestones Since Discovery in 2017 Tonnes Grades Contained Metal Contained Metal Mineral Reserves & 2017 2021 2023 2024 Mineral Re

  27. Slide 27: Çakmaktepe & Grind-Leach Circuit: The Next Step in Çöpler's Evolution

    Çakmaktepe & Grind-Leach Circuit: The Next Step in Çöpler's Evolution Continuing to Advance and Refine Avenues For Long-Term Value Creation Çakmaktepe Reserve Growth Updated Modelling Methodology Significant exploration success increases Mineral • Improved resolution of the geological controls withi

  28. Slide 28: Çöpler: Total Mineral Reserves of 5.1Moz

    Çöpler: Total Mineral Reserves of 5.1Moz Gold Mineral Reserves Steady Despite ~2.4Moz Production of Since 2014 Significant Mineral Reserve Base Supports 15+ Year Mine Life (1)  Mineral Reserves at Çöpler increased year-over-year to 5.1Moz (4.1Moz attributable), including depletion  Measured & Indi

  29. Slide 29: Çöpler: Wealth of Additional Targets For Potential Growth

    Çöpler: Wealth of Additional Targets For Potential Growth Recent Acquisition of 30% of Kartaltepe Delivers Meaningful Upside at Regional Targets Çöpler District Early-Stage Exploration Targets Highlights  Eastern edge of the Çöpler property covers the N Mavialtin Porphyry Belt, containing the Mavid

  30. Slide 30: Marigold

    Marigold

  31. Slide 31: Marigold: Large-Scale Open Pit in Nevada

    Marigold: Large-Scale Open Pit in Nevada Operations Page on Website Long History of Consistent Operations Milestones Since Initial Production Over 30 Years Ago 1988 2014 Q2/2020 2020 2023 2024 Marigold LOM production Completed Record production Declared initial Production acquired from reaches merge

  32. Slide 32: Marigold: 2023 Year-In-Review

    Marigold: 2023 Year-In-Review Record Annual Production as Mining Fleet Focuses on Ore Presentation 2023 Highlights Completed purchase of four additional haul Quarterly production of 83,272 oz trucks to support waste stripping activities was a record in Marigold’s 30+ & fleet replacements over life o

  33. Slide 33: Marigold: Updated Technical Report Summary Overview

    Marigold: Updated Technical Report Summary Overview Long-Life Open Pit Mine With Significant Exploration Upside Marigold Life of Mine Production Summary TRS 2023 305 Units 2024 – 2028 Life of Mine (3) Average of 5-Yr Profile: 214 koz 278 270 Mining & Production 234 235 230 234 236 Ore Mined Mt 91 15

  34. Slide 34: Marigold: Technical Report Summary Sensitivities

    Marigold: Technical Report Summary Sensitivities After-Tax NPV Sensitivity Cost Sensitivity LOM Gold Prices ($/oz) Change in Operating Costs NPV5% Units $1,430 $1,610 $1,970 $2,150 NPV5% Units Consensus (1) -15% -7.5% Base Case +7.5% +15% (-20%) (-10%) (+10%) (+20%) Marigold $M $998 $899 $800 $701 $

  35. Slide 35: Marigold: Mineral Reserve And Mineral Resource Conversion

    Marigold: Mineral Reserve And Mineral Resource Conversion Abundance of Opportunities to Extend Oxide Operations Through Brownfield Exploration Success Track Record of Replacing Depletion  Mineral Reserves at Marigold decreased by 9% year-over- year to 2.9Moz, largely reflecting depletion  Marigold

  36. Slide 36: Marigold: Pit Sequencing and Operating Metrics

    Marigold: Pit Sequencing and Operating Metrics Mineral Reserve Conversion Drilling a Near-Term Focus to Extend Mine Life Location of Marigold Pits Developed Over LOM Operating Outlook Tonnes Mined by Year Tonnes Mined By Pit (kt) 125 Ore Mined Waste Mined Strip Ratio 10.0 Valmy North Mackay New Mill

  37. Slide 37: Marigold: Buffalo Valley

    Marigold: Buffalo Valley 2022 Exploration Results Long-Term Mineral Reserve Growth & Conversion Potential for Marigold Satellite Target For Longer-Term Growth  Exploration team applying regional knowledge to a Growth Potential 270koz robust collection of high-quality and underexplored Drilling cont

  38. Slide 38: Seabee

    Seabee

  39. Slide 39: Seabee: High-Grade Underground in Canada

    Seabee: High-Grade Underground in Canada Operations Page on Website Expanded Exploration Program Focused on Extending Mine Life Major Milestones Since Initial Production Over 30 Years Ago Location: Saskatchewan, Canada Mining: Underground Processing: Gravity concentration, cyanide leaching 1991 2014

  40. Slide 40: Seabee: 2023 Year-In-Review

    Seabee: 2023 Year-In-Review Maintenance and Stope Reconciliation the Main Drivers of 2023 Performance 2023 Highlights Processed grades impacted by Exploration continues to illustrate mine life extension equipment downtime in quarter that potential, returning strong results including 5.6 meters at al

  41. Slide 41: Seabee: 2023 Technical Report Summary Overview

    Seabee: 2023 Technical Report Summary Overview Evaluating Long-Term Potential of the Porky Targets to Extend Mine Life Life of Mine Production Summary 2023 TRS Average 4-Year Profile: 80koz Units Life of Mine 136 119 Mining & Production 112 96 91 85 87 Potential Santoy/GHW Ore Mined kt 2,043 82 71 7

  42. Slide 42: Seabee: Mineral Reserve And Mineral Resource Conversion

    Seabee: Mineral Reserve And Mineral Resource Conversion Successful History of Extending Mine Life Through Incremental Mineral Reserve Growth Track Record of Replacing Depletion  Mineral Reserves at Seabee decreased by 29% year-over-year to 343koz, largely reflecting depletion  Seabee has averaged

  43. Slide 43: Seabee Exploration Program Focused on Mine Life Extension

    Seabee Exploration Program Focused on Mine Life Extension Positive Results from Porky Targets Highlight Ongoing Brownfield Exploration Success Plan View of Recent Porky Exploration Overview of Recent Porky Exploration (1)  Significant investment in near-mine and regional exploration at Seabee conti

  44. Slide 44: Puna

    Puna

  45. Slide 45: Puna: Large Open-Pit Silver Producer

    Puna: Large Open-Pit Silver Producer Operations Page on Website Consistently Strong Operations; Near-Mine Exploration Continuing Major Milestones Since Chinchillas Began Production in 2018 2018 2019 2020 2021 2022 2023 Chinchillas Pit • Production Completed Completed Chinchillas Exploration Record f

  46. Slide 46: Puna: 2023 Year-In-Review

    Puna: 2023 Year-In-Review Banner Year of Operating Performance Provides Record Production 2023 Highlights In March, released near-mine exploration results highlighting Following successful 2022 exploration campaign, drilling continues the potential Mineral Reserve and mine life growth at Puna; at th

  47. Slide 47: Puna: 2023 Technical Report Summary Overview

    Puna: 2023 Technical Report Summary Overview Mineral Reserve Only Life of Mine Plan; Opportunities to Extend Operations Life of Mine Production Summary (koz Ag) 2023 TRS Units Life of Mine 9,688 9,267 8,397 8,750 Mining & Production 8,010 5,581 Potential Chinchillas Ore Mined Mt 3.5 Resource Convers

  48. Slide 48: Puna: Near-Mine Exploration Success Presents Opportunity to Extend Mine Life

    Puna: Near-Mine Exploration Success Presents Opportunity to Extend Mine Life Cortaderas Presents a Medium-Term Mine Life Extension Pathway for Puna Overview of the Puna Operation  Puna is 100% owned by SSR Mining and is comprised N of the Chinchillas and Pirquitas properties  Located within the Bo

  49. Slide 49: Hod Maden

    - ® xe) © = x) te) —

  50. Slide 50: Hod Maden: World-Class Gold-Copper Development Project

    Hod Maden: World-Class Gold-Copper Development Project Operations Page on Website Tracking Towards Positive Construction Decision Mid-2024 2024 Priorities  Complete technical work and desktop optimizations  Project capital estimates remain aligned to due diligence conclusions Location: Artvin, Tür

  51. Slide 51: Hod Maden: Project Overview

    Hod Maden: Project Overview Project Development Supported by Existing Critical Infrastructure Highlights Hod Maden Production Profile (1) Gold (Au koz) Copper (AuEq koz)  Hod Maden is located in northeastern Türkiye 225 228 within the Eastern Pontides metallogenic belt 225 211 217 205 203  Road ac

  52. Slide 52: Setting the Stage for Long-Term Success

    Setting the Stage for Long-Term Success Growth Projects Across the Portfolio to Define the Next Leg of Growth For the Company Porky / Çakmaktepe Hod Maden Buffalo Valley Cortaderas Mavidere (2) (3) (4) Porky West Commodity Au Au, Cu Au Au Ag, Zn, Pb Au, Cu Mine Type Open Pit Underground Open Pit Und

  53. Slide 53: Key Takeaways From Today's Technical Report Teach-In

    Key Takeaways From Today’s Technical Report Teach-In Attractive Value, Strong Baseline Production & Fully Funded, High-Return Five-Year Growth 1. Net Asset Value Based On Reserves-Only of >$3Bn or ~$15/share, Increasing to >$4Bn or ~$20/share at Current Spot Metal Prices (1) 2. Five-Year Production

  54. Slide 54: Appendix

    MINING Appendix

  55. Slide 55: Endnotes

    Endnotes 1) Mineral Reserves and Mineral Resources (“MRMR”) for Çöpler, Marigold, Seabee, Puna as of December 31, 2023. Mineral Reserves and Mineral Resources shown are SSR Mining ownership share only. Çöpler is 80% owned by SSR Mining. As of December 31, 2023 SSR Mining owned 10% of Hod Maden. SSR

  56. Slide 56: Non-GAAP Reconciliations

    Non-GAAP Reconciliations 2024 Guidance Table, Five-Year Production Outlook Operating Guidance (100% basis) (13) Çöpler (14) Marigold Seabee Puna Hod Maden (15) Other Consolidated Gold Production koz 200 — 220 155 — 175 75 — 85 — — — 430 — 480 Silver Production Moz — — — 8.75 — 9.50 — — 8.75 — 9.50 G

  57. Slide 57: Non-GAAP Reconciliations: Cash Costs, AISC, Net Cash & Liquidity

    Non-GAAP Reconciliations Cash Costs, AISC, Net Cash & Liquidity Three Months Ended December 31, 2023 Twelve Months Ended December 31, 2023 (in thousands, unless otherwise noted) Çöpler Marigold Seabee Puna Corporate Total Çöpler Marigold Seabee Puna Corporate Total Cost of sales (GAAP) (21) $69,259

  58. Slide 58: SSR Mining Inc.

    SSR Mining Inc. F. Edward Farid, Executive Vice President, Chief Corporate Development Officer Alex Hunchak, Vice President, Investor Relations Website: www.ssrmining.com Email: invest@ssrmining.com Toll-free: +1 (888) 338-0046 SSRM:NASDAQ / TSX, SSR:ASX

SSR Mining — Investor Presentation (February 2024) on 6ix