Cengiz Holding A.S. entered into a binding memorandum of understanding to acquire 80% stake in Çöpler mine and related properties in Türkiye from SSR Mining Inc. (TSX:SSRM) for $1.5 billion on March 3, 2026. Cengiz Holding A.S. entered into definitive share purchase agreement to acquire 80% stake in Çöpler mine and related properties in Türkiye from SSR Mining Inc. (TSX:SSRM) on March 25, 2026. A cash consideration of $1.5 billion will be paid by Cengiz Holding A.S. Cengiz Holding is required to pay a deposit of $100 million within ten business days of the date of the MoU, which is creditable against the Purchase Price at the closing or refundable (in full or partially) in certain limited circumstances. The Çöpler mine and related properties encompass all mining licenses, assets, rights, liabilities and interests relating to or in connection with SSR Mining?s operations in eastern Anatolia, including Çöpler, Çakmaktepe, Bayramdere, Mavialtin, and Tunçpinar. The transaction excludes SSR?s interests in the Hod Maden development project. The Purchase Price is subject to adjustment at closing in the following circumstances: (a) after the parties agree on a final transaction structure, which will increase or decrease the Purchase Price by $50 million, and (b) for working capital balances and certain other potential amounts owed to third parties at the closing of the transaction. Either party has the right to terminate the MoU at any time upon notice to the other party, subject to the payment of a termination fee in the amount of $50 million.

The closing of the Transaction will be subject to receipt of regulatory approval from the Turkish General Directorate of Mining and Petroleum Affairs, as well as other consents and approvals that may be required in connection with the transaction, and other customary conditions. The Cengiz Holding?s obligation to proceed with the transaction is subject to the satisfactory completion of limited due diligence related to mineral reserves and resources at Çöpler, but is not subject to the receipt of operational or other permits or licenses related to Çöpler, nor is it subject to any financing contingency. The transaction is expected to close in the third quarter of 2026. The cash proceeds received through the transaction are expected to be used for continued reinvestment in the business, capital returns, and accretive growth initiatives.

Allen Overy Shearman Sterling LLP acted as legal advisor for SSR Mining Inc. CIBC World Markets, Inc. provided a fairness opinion to the Board of Directors of SSR Mining.