INCOME (LOSS) PER SHARE

The Company calculates basic net income (loss) per share using, as the denominator, the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share uses, as its denominator, the weighted average number of common shares outstanding during the period plus the effect of dilutive potential common shares during the period.

Dilutive potential common shares include stock options, Restricted Share Units (“RSUs”), and convertible notes.

The calculations of basic and diluted net income (loss) per share attributable to SSR Mining shareholders are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Net income (loss)	$	362,417	$	(352,582)	$	(120,225)
Net (income) loss attributable to non-controlling interest		33,337		91,305		22,218
Net income (loss) attributable to SSR Mining shareholders		395,754		(261,277)		(98,007)
Interest saving on 2019 Notes, net of tax		4,977		—		—
Net income (loss) used in the calculation of diluted net income per share	$	400,731	$	(261,277)	$	(98,007)

Weighted average number of common shares issued		202,745		202,258		204,714
Adjustments for dilutive instruments:


Restricted share units		1,300		—		—
2019 Notes		12,981		—		—
Diluted weighted average number of shares outstanding		217,026		202,258		204,714

Net income (loss) per share attributable to SSR Mining shareholders
Basic	$	1.95	$	(1.29)	$	(0.48)
Diluted	$	1.85	$	(1.29)	$	(0.48)

For the year ended December 31, 2024, $5.0 million of interest saving on convertible notes, net of tax, and 12,921 common shares and 340 restricted share units were excluded from the diluted income per common share calculation because the Company incurred a net loss and the effect would be antidilutive.

For the year ended December 31, 2023, $4.9 million of interest saving on convertible notes, net of tax, and 12,867 shares were excluded from the diluted income per common share calculation because the Company incurred a net loss and the effect would be antidilutive.

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

SSR MINING INC. Earnings Per Share Disclosure

About Earnings Per Share Disclosures

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