On February 28, 2025, the Company completed the acquisition of all of the issued and outstanding common shares of CC&V from Newmont Corporation for total consideration of $247.7 million. The acquisition included contingent consideration of up to $175.0 million related to specified permitting and regulatory milestones. The contingent consideration consists of two milestone payments of $87.5 million each. During the first quarter of 2026, the Company paid the $87.5 million milestone to Newmont Corporation and was relieved of the contingent payment associated with the Carlton Tunnel.

The following unaudited pro forma financial information represents a summary of the historical consolidated results of operations for the six months ended June 30, 2025, giving effect to the acquisition as if it had been completed on January 1, 2024. The pro forma financial information is provided for illustrative purposes only and is not intended to represent what the Company’s financial position or results of operations would have been had the acquisition occurred on the assumed date, nor does it purport to project the future operating results or the financial position of the Company following the acquisition.

On June 24, 2026, the Company completed the divestiture of its 80% ownership interest in the Çöpler mine and related properties in Türkiye to Cengiz Holding A.Ş. (“Cengiz Holding”) and affiliates for approximately $1.5 billion in cash. The Company recognized a loss on the divestment of Çöpler of $337.4 million during the six months ended June 30, 2026 included within Net income (loss) from discontinued operations. The total loss includes a write-down of $338.2 million recognized during the three months ended March 31, 2026 to adjust the assets held for sale of the Çöpler reportable segment to the lower of the carrying value or fair value, less costs to sell. The Company provided transitional services support to Cengiz Holding for thirty days following the closing date.

The Company determined that in conjunction with entering into the share purchase agreement, dated March 24, 2026, the operations of the Çöpler mine met the criteria for discontinued operations reporting, as the sale represents a strategic shift that will have a major effect on our operations and financial results. Accordingly, the Condensed Consolidated Financial Statements retrospectively present the disposal group as held for sale and the results of operations and cash flows of the disposal group have been presented as discontinued operations in the Condensed Consolidated Financial Statements. Refer to Note 4 for additional information.

On May 18, 2026, the Company entered into a definitive agreement with Lidya Madencilik Sanayi ve Ticaret A.Ş (“Lidya Mines”) to sell its 20% ownership interest in Artmin, which owns the Hod Maden development project (the “Project”), for an uncapped 4.0% net smelter return royalty on 100% of the Project. Upon execution of the agreement, the Company resigned as operator and Lidya Mines assumed the role of operator of the Project. The Company determined that it is no longer the primary beneficiary of Artmin, as it no longer has the power to direct the significant activities of Artmin. As a result, Artmin was deconsolidated from the Company’s Condensed Consolidated Financial Statements effective as of May 18, 2026. The assets, liabilities, and non-controlling interest of Artmin are no longer consolidated in the Company’s Condensed Consolidated Balance Sheets as of June 30, 2026. Upon deconsolidation, the Company recognized a loss of $17.5 million, classified as Loss on deconsolidation and included within Net income (loss) from discontinued operations. Following the deconsolidation, the Company accounted for the equity ownership in Artmin under the equity method of accounting and initially recognized the investment in Artmin at a fair value of $105.5 million, included within Assets held for sale on the Condensed Consolidated Balance Sheets. The fair value of the equity method investment in Artmin was determined using a discounted cash flow model. The significant assumptions include future metal prices, estimated quantities of mineral reserves and mineral resources, future capital and operating expenditures, and discount rates.

Following the deconsolidation of Artmin and until the completion of the sale, the Company will continue its involvement with Artmin primarily through our remaining equity interest and a related party shareholder loan receivable. The shareholder loan represents amounts advanced by the Company to fund the development of the Project. As of June 30, 2026, the shareholder loan had a carrying value of $158.7 million, which was initially recognized at fair value upon deconsolidation on May 18, 2026, and is included within Assets held for sale. The shareholder loan will be settled at the closing date.

The Company determined that the Company’s equity method investment in Artmin met the criteria for classification as held for sale and for discontinued operations reporting, as the sale will represent a strategic shift that will have a major effect on our operations and financial results. Accordingly, the equity method investment and shareholder loan have been presented as held for sale in the Condensed Consolidated Financial Statements. Refer to Note 4 for additional information.