Investor Presentaiton

For personal use only A compelling combination - Takeaways NORTHERN STAR Saracen A unique opportunity exclusively available for both companies to unlock significant value, and build a major global gold producer with an exceptional high-margin growth profile Benefits to both sets of shareholders Top-10 global producer, with 19Moz in Reserves and 49Moz in Resources¹ Complementary Board and management teams to drive growth and continued sector-leading returns Diversification of production and cash flows across a number of high quality, low-risk Tier-1 jurisdictions Transaction unlocks A$1.5-2.0B NPV in pre-tax synergies to be delivered via geographic, operational, and strategic synergies² Leading approach to environmental, social and governance principles and practices Consolidation of ownership at KCGM for the first time Dominant position in greater Kalgoorlie district, targeting 1.1 Mozpa in production Rationalised ownership of the Yandal belt, spanning Jundee, Bronzewing and Thunderbox Significant organic growth pipeline across a merged portfolio with enviable geological endowment Enhanced financial strength and flexibility to pursue accretive M&A Increased investor relevance and capital markets profile Benefits to Northern Star shareholders Exposure to high-quality, de-risked operations and infrastructure at Thunderbox and Carosue Saracen's open pit expertise Benefits to Saracen shareholders Stronger near-term cash flows ✓ Exposure to growth and North American platform through Pogo Northern Star's underground expertise 1. Refer to page 3 of this presentation in relation to Ore Reserve and Mineral Resource estimates, and production targets, for Northern Star and Saracen. 2. Over the next ten years PAGE 27

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