SSR Mining : 1st Quarter 2021 Financial Statements

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED

MARCH 31, 2021 AND 2020

(unaudited)

Contents

Consolidated Financial Statements

Condensed Consolidated Interim Statements of Financial Position Condensed Consolidated Interim Statements of Income

Condensed Consolidated Interim Statements of Comprehensive Income Condensed Consolidated Interim Statements of Cash Flows

Condensed Consolidated Interim Statements of Changes in Shareholders' Equity

Notes to the Condensed Consolidated Interim Financial Statements Note 1 - Nature of operations

Note 2 - Basis of presentation

Note 3 - Areas of judgment and estimation uncertainty

Condensed Consolidated Statements of Financial Position

Note 4 - Inventories

Note 5 - Mineral properties, plant and equipment

Note 6 - Debt and credit facility

Condensed Consolidated Statements of Income

Note 7 - Revenue

Note 8 - Income per share

Condensed Consolidated Statements of Shareholders' Equity Note 9 - Share-basedcompensation

Note 10 - Dividends

Additional Disclosures

Note 11 - Operating segments

Note 12 - Fair value measurements

Note 13 - Supplemental cash flow information

Note 14 - Subsequent Event

SSR Mining Inc.

Interim Financial Statements Q1 2021 | 2

SSR Mining Inc.

Condensed Consolidated Interim Statements of Financial Position

(expressed in thousands of United States dollars) (Unaudited)

			March 31,		December 31,
	Note		2021		2020
Current assets
Cash and cash equivalents		$	866,029	$	860,637
Marketable securities			25,942		26,748
Trade and other receivables			97,442		83,491
Inventories	4		429,678		437,379
Prepaids and other current assets			19,302		16,267
			1,438,393		1,424,522
Non-current assets
Mineral properties, plant and equipment	5		3,558,688		3,565,905
Inventories - non-current	4		162,427		134,612
Restricted cash			35,290		35,288
Investments in joint ventures			6,776		7,782
Goodwill			49,786		49,786
Deferred income tax assets			1,924		4,612
Other			19,843		22,479
Total assets		$	5,273,127	$	5,244,986
Current liabilities
Accounts payable and accrued liabilities		$	164,567	$	175,984
Debt	6		71,090		71,025
Reclamation and closure cost provision			2,747		1,924
			238,404		248,933
Non-current liabilities
Debt	6		303,892		319,645
Lease liabilities			116,517		117,029
Reclamation and closure cost provision			121,613		117,650
Deferred income tax liabilities			522,841		483,449
Other			4,857		18,377
Total liabilities			1,308,124		1,305,083
Shareholders' equity
Common shares			3,226,627		3,220,795
Other reserves			49,154		40,570
Equity component of convertible notes			106,425		106,425
Retained earnings			100,475		58,487
Total equity attributable to equity holders of SSR Mining			3,482,681		3,426,277
Non-controlling interest			482,322		513,626
Total equity			3,965,003		3,939,903
Total liabilities and equity		$	5,273,127	$	5,244,986

The accompanying notes are an integral part of the consolidated financial statements

Approved by the Board of Directors and authorized for issue on May 4, 2021.

"Beverlee F. Park"		"Rodney P. Antal"
Beverlee F. Park, Director		Rodney P. Antal, Director

SSR Mining Inc.

Interim Financial Statements Q1 2021 | 3

SSR Mining Inc.

Condensed Consolidated Interim Statements of Income

(expressed in thousands of United States dollars, except for per share amounts) (Unaudited)

			Three months ended March 31,
	Note		2021		2020
Revenue	7	$	366,484	$	164,463
Cost of sales
Production costs			(157,492)		(91,045)
Depletion and depreciation			(61,172)		(28,635)
			(218,664)		(119,680)
Income from mine operations			147,820		44,783
General and administrative expense			(11,867)		(5,893)
Share-based compensation recovery	9		4,507		3,568
Exploration, evaluation and reclamation expense			(7,955)		(6,362)
Care and maintenance expense	11		-		(1,330)
Transaction and integration expense			(4,492)		-
Operating income			128,013		34,766
Interest and other finance income			470		2,397
Interest expense and other finance costs			(7,945)		(6,966)
Other expense			(2,180)		(1,380)
Foreign exchange (loss) gain			(424)		1,158
Income before income taxes			117,934		29,975
Income tax expense			(58,172)		(5,999)
Net income		$	59,762	$	23,976
Attributable to:
Equity holders of SSR Mining		$	52,980	$	23,976
Non-controlling interest			6,782		-
		$	59,762	$	23,976
Net income per share attributable to equity holders of SSR
Mining
Basic	8		$0.24		$0.19
Diluted	8		$0.24		$0.19

The accompanying notes are an integral part of the consolidated financial statements

SSR Mining Inc.

Interim Financial Statements Q1 2021 | 4

SSR Mining Inc.

Condensed Consolidated Interim Statements of Comprehensive Income

(expressed in thousands of United States dollars) (Unaudited)

		2021		2020
Net income	$	59,762	$	23,976
Other comprehensive income
Items that will not be reclassified to net income:
Loss on marketable securities at FVTOCI, net of tax recovery of $109 and		(697)		(13,497)
$2,382
Items that may be subsequently reclassified to net income:
Unrealized gain (loss) on effective portion of derivative, net of tax		2,582		(9,092)
(expense) recovery of $(726) and $2,633
Realized (gain) loss on derivatives reclassified to net income, net of tax		(147)		34
expense (recovery) of $63 and $(9)
Total other comprehensive income		1,738		(22,555)
Total comprehensive income	$	61,500	$	1,421
Attributable to:
Equity holders of SSR Mining	$	54,718	$	1,421
Non-controlling interest		6,782		-
Total comprehensive income	$	61,500	$	1,421

The accompanying notes are an integral part of the consolidated financial statements.

SSR Mining Inc.

Interim Financial Statements Q1 2021 | 5