Northern Star Resources : Chairman's AGM Address & Managing Director's Presentation

ASX: NST

ASX Announcement

18 November 2021

CHAIRMAN'S AGM ADDRESS & onlyMANAGING DIRECTOR'S PRESENTATION

Ladies and Gentlemen, I welcome you to our Annual General Meeting of Shareholders of Northern Star Resources Limited.

My name is Michael Chaney and I am the Chairman of your Company.

Can I say how pleased I was to have been invited to join the Northern Star Board as Chairman. I had watched the development and progress of Northern Star and Saracen over the years and was impressed by the way the "merger of equals" had been

usexecuted.

In my initial discussions with the senior management team and directors I liked what I saw in terms of corporate culture. It's fair to say that the Northern Star and Saracen cultures were closely aligned, with a lot in common: a strong shareholder-return focus, a conviction that they could be the best in the world at operating mines, a care for all stakeholders, a strong set of ethical values, a can-do attitude and a really entrepreneurial spirit.

The Board and Management are determined that notwithstanding the fact that Northern Star is now a much bigger company, that spirit of entrepreneurship is not lost.

personalThe Company itself has many attractive features: high quality assets which generate strong cash flows and, importantly, have realistic expansion opportunities and long mine lives; a strong balance sheet; skilled operational management and a highly

skilled workforce.

The plan which Stuart Tonkin has outlined to the market, to increase production to two million ounces per annum over the

ext five years, while reducing our cost per ounce, is eminently realisable.

Understandably, the merger was followed by a number of changes at the Board and senior management level. As I did in this year's Annual Report, I acknowledge the great contribution to the two companies' success by the outgoing directors: non- executives Shirley In't Veld and Peter O'Connor and executive directors Bill Beament and Raleigh Finlayson - the latter two having developed Northern Star and Saracen from gold mining juniors to the significant companies they were at the time of the merger. We're looking forward to Raleigh rejoining the Board in a non-executive capacity next April.

We were very pleased to welcome Sharon Warburton to the Board in September this year and will benefit from her board

xperience across a range of industries, resources in particular.

At the close of this meeting Tony Kiernan retires as a non-executive and Lead Independent Director. Tony's extensive experience over 35 years in the management, operation and direction of public-listed companies has been of great benefit to the Board and we shall miss his wisdom around the board table.

ForI'm confident that we are now positioned with the right mix of skills to take the Company forward successfully and to achieve

healthy growth. From the Board's perspective, one assurance I can give you with regard to growth is that our future decisions will be based on creating shareholder value rather than building a larger empire.

Northern Star is an exciting place to be involved with and I look forward to helping the Company fulfil its ambitions. I now hand over to Stu Tonkin to report on current activities and the Company's prospects going forward. Authorised for release to the ASX by Michael Chaney, Chairman.

Investor Relations Enquiries:	Media Enquiries:
Sophie Spartalis	Paul Armstrong
Northern Star Resources Ltd	Read Corporate
T: [phone]	T: [phone]
E: [e-mail]	E: [e-mail]

onlyuseAGM Presentation

Stuart Tonkin nalManaging Director & CEO

Forward Looking Statements, Reserves and Resources

Forward Looking Statements

Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Northern Star Resources Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.

only
This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it
shall form the basis of any contract or commitment whatsoever.
This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations
reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially,
i cluding but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, Resource or Reserve estimations, loss of market, industry competition, environmental
risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost
estimates.
ASX Listing Rules Disclosures
The information in this announcement that relates to the Ore Reserves and Mineral Resources, and production targets of Northern Star has been extracted from the ASX release by Northern Star entitled
"R sources, Reserves and Exploration Update" dated 3 May 2021 available at www.nsrltd.comand www.asx.com(Northern Star Announcement), excluding the Kundana, East Kundana Joint Venture and
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Carbine Projects following the completion of the Kundana Asset Sale as announced on 18 August 2021.
Northern Star confirms that it is not aware of any new information or data that materially affects the information included in the Northern Star Announcement and, in relation to the estimates of Northern
Star's Ore Reserves and Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the Northern Star Announcement continue to apply and have not
materially changed. Northern Star confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that announcement, other than
changes due to normal mining depletion during the three month period ended 30 June 2021.
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Value Creation Strategy

	RESPONSIBLE	PROFITABLE
only	EESG	GROWTH
SUSTAINABLE	SUSTAINABLE
		NST	~2Mozpa
	Net Zero ambition by	3-5 world class
use	2050	production centres
	M rged experience of	Kalgoorlie to 1.1Mozpa
	industry-leading teams	Yandal to 600kozpa
		(E - Employee)
		Progressive	Pogo to 300kozpa
	Environmental, Social,	Active portfolio
	Governance (ESG)
	management
nal

LOWER	LONG MINE
COSTS	LIFE

SUSTAINABLE	SUSTAINABLE
1st HALF COSTS	+20 YEARS
Growth in	Target +20Moz
production	Reserve
Deliver merger	Target +60Moz
synergies	Resource
Active portfolio	Focused on world class
management	geology
	Track record of
	low-cost discovery and
	accretive M&A

PREMIUM VALUATION

SUPERIOR

SHAREHOLDER

RETURNS

Enhance return on

investment

Improve NAV

Attract size investment from a diverse global investor universe

Premium trading

multiple

EESG Highlights

 Industry leading safety performance (TRIFR 5.6 and

Net Zero ambition for Scope 1 & 2 GHG Emissions by 2050

LTIFR 0.9)

 July 2021 - Net Zero ambition

for Scope 1 & 2 GHG

emissions by 2050

 Sustainability Report Q3 FY22

 Zero heritage-related or

only

material adverse community

incidents

 More than doubled Economic

Value Add to society to A$3.4B

 Improved ASX Corporate

Governance Council Principles

use

and Recommendations to

35/35

2021

Indicative Scope 1 & 2

pathway (t CO2-e)

Gas/Propane, Coal, Diesel

Gas, Diesel

Grid, Gas, Diesel

2030 Existing technology

• Renewable Energy - Wind
• Renewable Energy - Wind & Solar
• Electrified Fleet
• Grid Greening,
• Renewable Energy - Wind & Solar

2040 Innovation

Kalgoorlie

Yandal

Pogo

+ Battery/Electrified Fleet

H2

+ Hydrogen Fleet

H2

+ Electrified/Hydrogen Fleet

Carbon

Capture

Offsets

nal

ACSI assessment:
"Leading" level of ESG reporting,	4
relative to peers