#1211 222 00 22 793C CAT 203 203 NORTHERN STAR RESOURCES LIMITED Business First Australia Exploration Access Day June 2022 CLSA#2Forward Looking Statements, Reserves and Resources Forward Looking Statements NORTHERN STAR RESOURCES LIMITED 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. 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, including 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 "Resources, Reserves and Exploration Update" dated 3 May 2022 available at www.nsrltd.com and www.asx.com (Northern Star Announcement). 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. Assumptions made in relation to the Ore Reserves and Mineral Resources underpinning the production targets in that announcement are (in summary): Current operational capital and operating cost structures, " " Current mining and metallurgical performance, The gold price, exchange rate, dilution allowance and mining recovery rates are as set out in each prior public report referred to in ASX Listing Rule 5.19 disclosures, and 5 year gold production profiles are based on 100% current JORC compliant Ore Reserves. Rounding is applied in this presentation for the percentage comparisons and for the 31 March 2022 Ore Reserves and Mineral Resources figures. Unless stated otherwise, all currency conversions in this document have been converted at a currency of A$/US$ conversion rate of $0.75. Authorised to release to the ASX by Stuart Tonkin, Managing Director & CEO. 2#3World Class Assets in Tier-1 Locations We are one of the world's largest gold companies Our mission is to generate superior returns for our shareholders, while providing positive benefits for our stakeholders, through operational effectiveness, exploration and active portfolio management We are a trusted operator and responsible producer in relation to our stakeholders, including communities, suppliers and host countries 1 3 Commodity 2 Countries Centres Production Yandal Pogo 7.3Moz Resource US (Alaska) 1.8Moz Reserve 9.8Moz Resource 3.9Moz Reserve Kalgoorlie 37.1Moz Resource 14.9Moz Reserve Perth Australia NORTHERN STAR RESOURCES LIMITED 3#4Value creation strategy RESPONSIBLE EESG PROFITABLE GROWTH LOWER COSTS LONG MINE LIFE NORTHERN STAR RESOURCES LIMITED PREMIUM VALUATION SUSTAINABLE NST Net Zero ambition by 2050; 35% emissions reduction by 2030 Industry-leading team (E - Employee) Progressive Environmental, Social, Governance (ESG) SUSTAINABLE ~2Mozpa 3-5 world class production centres Kalgoorlie to 1.1 Mozpa Yandal to 600kozpa Pogo to 300kozpa Active portfolio management SUSTAINABLE 1st HALF COSTS Growth in production Continuous cost improvement Active portfolio management SUSTAINABLE +20 YEARS Target +20Moz Reserve Target +60Moz Resource Focused on world class geology Track record of low-cost discovery and accretive M&A SUPERIOR SHAREHOLDER RETURNS Enhance return on investment Improve NAV Attract size investment from a diverse global investor universe Premium trading multiple#5Exploration underpins further organic growth opportunities NORTHERN STAR RESOURCES LIMITED Mineral Resources* 14% 18% 56.4 Moz 68% Ore Reserves* 9% ■ Kalgoorlie ■ Kalgoorlie 19% ■Yandal 20.7 Yandal Moz ■ Pogo 72% ■ Pogo Track record of low cost discovery, 2022 Resources added at A$24/oz *Annual Mineral Resources and Ore Reserves as at 31 March 2022 5#6Significant opportunity within our Tier-1 asset portfolio 70,000 Group Mineral Resources as at 31 March 2022 60,000 2,065 431 275 56,389 56,392 (324) (2,443) 50,000 40,000 30,000 20,000 10,000 0 Mar-21 Kalgoorlie Yandal Pogo Tanami Group Ore Reserves as at 31 March 2022 Divestment Mar-22 25,000 20,992 563 310 20,683 20,000 (602) (579) 15,000 10,000 5,000 Resource Growth highlights: NORTHERN STAR RESOURCES LIMITED Pogo Goodpaster Maiden 1.1 Moz Mineral Resource at 10.3g/t Kalgoorlie - Fimiston Underground Inferred Mineral Resource increased by 1.0Moz Reserve Growth highlights: Pogo to 1.8Moz at higher grade of 8.5g/t Kalgoorlie Operations to 13.2Moz, Offset mining depletion and portfolio optimisation (Kundana) Unchanged long-term gold price assumptions Mar-21 Kalgoorlie Yandal Pogo Divestment Mar-22 9#7Kalgoorlie Production Centre NORTHERN STAR RESOURCES LIMITED Fimiston Underground Mineral Resource increased by 20% to 5.0Moz Drill results including 4.7m @ 22.9g/t, 12.1m @ 3.8g/t South Kalgoorlie Extensional drilling at north end of HBJ underground mine Drill results including 17.9m @ 12.2g/t, 6.3m @ 12.3g/t CAROSUE DAM QENA Carosue Dam Qena Maiden Inferred Mineral Resource of 310koz Drill results including 29.4m @ 4.8g/t, 9.8m @ 5.9g/t KCGM FIMISTON NORTH KANOWNA BELLE MT PERCY LITTLE WONDER MT FERRUM SOUTH KALGOORLIE SOUTH KALGOORLIE Legend Δ NST Mill N Project Location NST Tenure Major Fault 0 25 50 Km 7#8Fimiston North New Underground Portal, Golden Pike Drill Drive First underground portal in the Super Pit in almost 25 years Historic underground workings extend to a maximum depth of ~1.4km below surface with historic drilling intersecting mineralisation at depths more than 2km Underground drilling has successfully drilled through multiple voids allowing for greater testing of this highly prospective area W 19000 E OmRL Golden Pike UG Drill Drive -200mRL 9.8m @1.8g/t 12.1m @ 3.8g/t 5.2m @ 1.6g/t 2.5m @ 5.4g/t 4.4m @ 3.1g/t 0.8m @ 22.5g/t Legend Drillhole trace Mineralisation 12.4m @ 2.7g/t Drilling Intercepts (DHW) ' >50 gm > 25-50 gm 15-25 gm 14.1m @ 1.3g/t 400mRL Labels <15 gm New results Previous Results <50 gm > 50 gm Resource Ore Reserve Historic Void Backfill - 19500 E NORTHERN STAR RESOURCES LIMITED E 20000 E Mt Percy 12.9m @ 3.1g/t 4.7m @ 2.5g/t City of Kalgoorlie Boulder Mt Charlotte 13.3m @ 3.0g/t 21.3m @ 1.7g/t 9.3m @ 3.4g/t 9.01m @ 2.5g/t 12.8m @ 1.7g/t Sam Pearce Decline Golden Pike UG Drill Drive 16.9m @ 1.8g/t 25.0m @0.9g/t Section Line Fimiston Processing Plant Fimiston Pit 7.9m @ 3.3g/t 14.8m @ 2.1g/t NORTHERN STAR Fimiston North Cross Section 6594840mN Om 250m N 8#9Mt Charlotte Planned 32 Level Drilling, Mt Charlotte 246m @2.5g/t including: 14m @4.6g/t 22m @2.3g/t' NOB MOBAY ROB COB 19m @ 3.5g/t Planned Drilling COB 32 Leveli -1000mRL 302m @ 2.2g/t including: 16m @ 3.1g/t 32m @ 5.1g/t 4m @ 13.0g/t Untested ------- CHARLOTTE FAULT Planned Drilling | Planned Drilling Planned Drilling NWOODES OPEN ROB MOB NORTHERN STAR Mt Charlotte RD NELSON FAULT -- Sam Pearce Decline Untested NORTHERN STAR RESOURCES LIMITED ■ 3km north of the Fimiston processing plant Significant potential to expand multiple areas adjacent to existing mine infrastructure LEGEND Drilling 0-0.5g/t 0.5-0.8g/t 0.8-1.2g/t. 1.2-2.0g/t " 2.0-3.5g/t 3.5-5.0g/t 5.0-20.0g/t 20.0 100.0g/t +100.0g/t Mined -1000mRL- 500m ■ 28% increase in Ore Reserves to 1.2Moz, after depletion ■ Future extensional drilling to significantly expand the down-plunge position of the main Charlotte orebody Plans to increase drilling fleet " Untested Long Section 0 6#10Mount Ferrum - Multiple stacked zones of Fimiston- style mineralisation located east of Mt Charlotte Adjacent to Hidden Secret mining area, 500m east of the Sam Pearce Decline N 52200m N Om RL -200mRI Mount Ferrum Main Lode Long Section, New Drill Results Golden Pike Fault. 51900m N 15.5m @ 2.5g/t ° 13.6m @ 5.1g/t -400mRL 2.7m @ 13.6g/t 2.7m @ 12.4g/t 5.1m @ 4.7g/t 4.5m @ 3.7g/t Legend ■ New dedicated drill drive established Drillhole trace Mineralisation Drilling Intercepts (DHW) >50 gm > 25-50 gm > 15-25 gm о <15 am Future extensional drilling to significantly expand the position to generate new mining front Labels New results Previous Results >50 gm < 50 gm Resource Ore Reserve Historic Void Backfill NORTHERN STAR RESOURCES LIMITED Discovery Hole: 127m @ 6.0g/t (DH) Oo 6.5m @ 6.4g/t (TW) OPEN 9.5m @ 3.9g/t 7.4m @2.1g/t ° 0 51600m N 5.8m @ 4.2g/t 6.7m @19.6g/t 3m @ 7.7g/t NORTHERN STAR RESOURCES LIMITED 51300m N S о 4.1m @ 10.0g/t City of goorlie Boulder о 7.2m @ 5.3g/t ° 0 Mt Ferrum Long Section Main Lode 11m @ 7.2g/t OPEN Golden Pike G Drill Drive Mt Percy Mt Charlotte, Section Line Sam Pierce Decline Fimiston Processing Fimiston Pit Plant 0m 150m N 110#11Mount Percy - Little Wonder Mount Percy Long Section, New Drill Results N 9.0m @4.2g/t 13.2m @2.9g/t b 15.4m @ 2.6g/t 28.9m @ 2.0g/t 16.7m @ 2.1g/t 35.7m @1.8g/t 4.0m @ 11.4g/t 10.3m @2.4g/t City of Kalgoorlie Boulder Mt Percy /Section Line Mt Charlotte 7.4m @ 3.9g/t Golden Pike UG Drill Drive Sam Pearce Decline Fimiston Pit Fimiston Processing Plant Legend Drillhole Trace Resource Shell Mineralisation Drilling Intercepts (DHW) > 50 gm > 25-50 gm > 15-25 gm <15 gm Labels >50 gm <50 gm Previous Result NORTHERN STAR RESOURCES LIMITED 2.7m @-21.7g/t [email protected]/t 11.7m @ 3.9g/t 42.4m @ 1:0g/t 25.4m @ 1.6g/t 14.5m @ 1.9g/t 1.5m @ 27.3g/t 5.9m @ 12.4g/t [email protected]/t 34.8m @ 5.0g/t 77.0m @ 2.2g/t 3.1m @ 14.7g/t 20.6m @ 1.3g/t 14.1m @ 3.9g/t 22.6m @ 2.0g/t 29.0m @2.7g/t 49.3m @ 2.0g/t [email protected]/t 46.6m @ 0.7g/t 46.9m @ 0.8g/t 81.2m @ 1.6g/t 182.4m @ 2.3g/t (Incl 129.2m @ 2.8g/t) 39.4m @ 1.0g/t 40.8m @ 2.5g/t | 54,000mN 53,500mN 53,000mN Mt Percy/Little Wonder Long Section S NORTHERN STAR RESOURCES LIMITED 4km north of the Fimiston processing plant 1-200mRL -400mRL 12.2m @ 2.3g/t -600mRL 40.1m @ 1.3g/t- -800mRL -1,000mRL | 52,500mN 200m Multiple mineralisation styles in multiple host rocks Targeting bulk tonnage stockwork mineralisation over large area Initial drilling delivered 100% resource increase, outstanding long-term exploration potential of this northern corridor 11#12Yandal Production Centre New discovery "Golden Wonder" Less than 1km south-east of Wonder North project Drill results including 31.8m @ 3.1g/t, 10.3m @ 6.2g/t Bannockburn Exploration drilling only 500m north of Bannockburn Ore Drill results including 30.8m @ 4.6g/t, 19.7m @ 4.3g/t Corboys Infill drilling at Corboys project Drill results including 28.8m @ 2.5g/t, 9.9m @ 5.6g/t *170,000 assays outstanding, not included in 2022 resource model JUNDEE CORBOYS BRONZEWING THUNDERBOX Legend A NST Mill Project Location WONDER NORTH NST Tenure Major Fault BANNOCKBURN 0 25 50 Km NORTHERN STAR RESOURCES LIMITED N A 12#13Wonder North - Golden Wonder New discovery South-east of the Wonder Shear Zone NW Wonder North and Golden Wonder, New Drill Results WONDER WEST WONDER NORTH 500mRL 14.7m @1.4g/t Gold mineralisation characterised by strong alteration hosted within a highly strained monzogranite host Open at depth ■ Maiden Mineral Resource expected FY23 -OmRL LEGEND Untested \Pit Ore Reserve UG Ore Reserve O Surface Drilling >50 gram metres 20-50 gram metres 10-20 gram metres <10 gram metres New Results Previous Results [email protected]/t 20.0m @ 3.4g/t TBO Mill 25km "New Discovery" GOLDEN WONDER NORTHERN STAR RESOURCES LIMITED 17.5m @ 3.0g/t 9.9m @ 1.8g/t 10.3m @6.2g/t/ 21.4m @ 3.1g/t [email protected]/t OPEN Untested OPEN SE 500mRL- 9.0m @ 5.6g/t 31.8m @ 3.1g/t OmRL- Untested Plan View Section Line NORTHERN STAR Wonder Shear Zone Projected 500m RESOURCES LIMITED Long Section 13#14Bannockburn and Corboys NW Bannockburn Long Section, New Drill Results 500mRL 19.7m @ 4.3g/t incl 4.4m @10.4g/t 21.2m @2.1g/t -200mRL 30.8m @4.6g/t 4.2m @ 11.2g/t [email protected]/t 15.3m 3.6g/t 11.0m @4.2g/t 19,6m @ 3.8g/t -OMAL Untested LEGEND Pit Ore Reserve UG Ore Reserve Surface Drilling >50 gram metres 20-50 gram metres 10-20 gram metres 10 gram metres New Results Previous Results TBO Mill 40km Untested NORTHERN STAR Bannockburn RESOURCES LIMITED Projected Long Section Untested 500m SE W OMRL -400mRL Plan Mew -200mRL LEGEND NORTHERN STAR Corboys Cross Section, New Drill Results RESOURCES LIMITED 5.4m @ 4.9g/t 14.4m @2.2g/t 7.2m @ 3.9g/t incl 1.0m @22.3g/t 4.5m @ 21.1g/t 15.8m @ 1.4g/t 32.4m @1.6g/t 4.6m @ 3.4g/t 19.8m @ 1.1g/t Mineralisation Granodiorite Drill Holes New Result Old Result Surface 4.5m @4.5g/t 400mRL- 12.6m @2.4g/t -7.7m @3.1g/t [email protected]/t 13.8m @ 1.9g/t [email protected]/t Basalt NORTHERN STAR Corboys Cross Section Granodiorite Plan View Basalt ■ Focused on Bannockburn Shear Zone to the north Challenging conditions Encouraging results 500m north of the current Bannockburn Ore Reserve ■ Exploration ongoing ■ 25km north of Bronzewing Steeply dipping granite-basalt contact with shear- hosted quartz-carbonate-sulphide mineralisation and extensive sheeted quartz vein arrays Long-term potential - Mt Joel trend 14#15Pogo Production Centre Goodpaster Maiden Inferred Mineral Resource of 3.2Mt @ 10.3g/t for 1.1 Moz Drilling highlights include 6.9m @ 22.8g/t, 6.8m @ 18.4g/t Pogo Ore Reserves +20% to 1.8Moz at increased grade of 8.5g/t High-grade Liese lodes Recent results highlight exceptional geological potential of the Pogo system W 3825000N 3820000mN GOODPASTER Goodpaster Section Goodpaster River CENTRAL ZONE NORTH ZONE FUN ZONE LIESE ㅁ NORTHERN STAR POGO Location Plan RESOURCES LIMITED SOUTH POGO NORTHERN STAR RESOURCES LIMITED EAST DEEPS E 3825000N- 3820000N- 5000ft 15#16Goodpaster NW Goodpaster Cross Section, New Drill Results SE ■ ~2km west of Pogo mine area - 1500mRL OmRL OPEN [email protected]/t- 0.9m @13.3g/t- 4.5m @7.1g/t- 2.5m @ 8.7g/t G9 System 5.9m @5.4g/t- 2.4m @23.3g/t- 1.5m @ 14.5g/t 6.5m @ 10.4g/t [email protected]/t 1.1m @ 15.7g/t 1.0m @ 115.1gt 3.7m @ 15.3g/t 4.1m @ 10.5g/t -5.9m @ 5.4g/t 2.6m 14.3g/t [email protected]/t- -2.7m @ 10.3g/t G3 System 0.7m @39.1g/t- G2 System 1.0m @ 19.4g/t [email protected]/t OPEN [email protected]/t 1.7m @ 17.0g/t- 0.7m @21.7g/t B Shear Zone NORTHERN STAR RESOURCES LIMITED OPEN Goodpaster Shear Zone 2.4m @23.3g/t 1.1m @ 19.4g/t [email protected]/t 2.5m @ 10.5g/t [email protected]/t Goodpaster Cross Section NORTHERN STAR RESOURCES LIMITED 4.3m 17.7git 4.8m 15.1g/t G1 System Goodpaster Shear Zone [email protected]/t LEGEND Mineralised Veins Drill Holes New Result 1500mRL- Old Result OmRL- 500m Maiden Inferred Mineral Resource of 3.2Mt @ 10.3g/t for 1.1 Moz of Au (214 diamond drill holes) ■ Shallow to moderately dipping shear zones containing stacked quartz vein arrays combined with several strike-extensive zones of sub-vertical quartz veining Comparable to existing northern mining areas at Pogo (Fun Zone) Open in every direction 16#17Executing our clearly defined strategy NORTHERN STAR RESOURCES LIMITED A { RESPONSIBLE PRODUCER ORGANIC PRODUCTION GROWTH STRONG CASH FLOW GENERATION MINE LIFE EXTENSION INCREASING CASH RETURNS 17#18NORTHERN STAR RESOURCES LIMITED Appendix#192022 Mineral Resources and Ore Reserves NORTHERN STAR RESOURCES LIMITED MEASURED Tonnes Grade Ounces (000's) (gpt) (000's) 169,495 1.1 6,058 INDICATED Tonnes Grade Ounces (000's) (gpt) (000's) 451,955 2.2 32,046 INFERRED Tonnes Grade Ounces (000's) (gpt) (000's) 243,289 2.3 18,288 TOTAL RESOURCES Tonnes Grade Ounces (000's) 864,738 (gpt) (000's) 2.0 56,392 MINERAL RESOURCES as at 31 March 2022 NST ATTRIBUTABLE INCLUSIVE OF RESERVE NORTHERN STAR TOTAL ORE RESERVES as at 31 March 2022 NST ATTRIBUTABLE INCLUSIVE OF RESERVE NORTHERN STAR TOTAL PROVED Tonnes Grade (000's) 146,799 (gpt) 0.9 Ounces (000's) Tonnes PROBABLE Grade TOTAL RESERVE (000's) (gpt) Ounces (000's) Tonnes Grade Ounces (000's) (gpt) (000's) 4,338 241,067 2.1 16,346 387,866 1.7 20,683 Mineral Resource and Ore Reserve Summary ■ As of 31 March 2022, the Group Mineral Resource is estimated as 865Mt @ 2.0g/t Au for 56.4Moz. ■ Mineral Resources for the Australian Operations were estimated at an assumed gold price of A$2,250/oz. Mineral Resources for the Pogo Operation were calculated using an assumed gold price of US$1,500/oz. ■ As of 31 March 2022, the Group Ore Reserve is estimated at 388Mt @ 1.7g/t Au for 20.7Moz. ■ Ore Reserves for the Australian Operations were estimated at an assumed gold price of A$1,750/oz. Reserves for the Pogo Operation were estimated at an assumed gold price of US$1,350/oz. ■ These figures represent JORC 2012 Mineral Resources and Ore Reserves for the combined assets owned by Northern Star. 1999 19#20Northern Star Resources Limited ASX Code: NST NORTHERN STAR RESOURCES LIMITED Business First. Investor Enquiries: Sophie Spartalis T: +61 8 6489 2488 E: [email protected] W: www.nsrltd.com 20