Investor Presentaiton

For personal use only Forward looking statements and risks Past performance NORTHERN STAR Saracen Past performance metrics and figures, as well as pro forma financial information, included in this presentation are given for illustrative purposes only and should not be relied upon as (and are not) an indication of Northern Star's or Saracen's views on Northern Star's or Saracen's future financial performance or condition or prospects (including on a consolidated basis). Investors should note that past performance of Northern Star and Saracen, including in relation to the historical trading price of shares, production, ore reserves and mineral resources, costs and other historical financial information cannot be relied upon as an indicator of (and provide no guidance, assurance or guarantee as to) future performance, including the future trading price of shares. The historical information included in this presentation is, or is based on, information that has previously been released to the market. Future performance and forward looking statements This presentation contains forward looking statements about Northern Star and Saracen. Often, but not always, forward looking statements can be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements in this presentation regarding intent, belief, expectations, plans, strategies and objectives of management, indications of and guidance on synergies, future earnings or financial position or performance, future acquisitions, anticipated production or construction commencement dates, costs or production outputs for each of Northern Star and Saracen (based on, among other things, their respective estimates of their production for the periods specifically referred to in this presentation), the outcome and effects of the Scheme (including expected benefits to Northern Star and Saracen shareholders) and the future operation of Northern Star and Saracen. Neither Northern Star nor Saracen makes any representation or warranty as to the currency, accuracy, reliability or completeness of any forward looking statements contained in this presentation. To the extent that this presentation materials contains forward looking information, the forward looking information is subject to a number of risks, including those generally associated with the gold industry and the mining industry more broadly. Any such forward looking statement inherently involves known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially greater or less than estimated. These may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development (including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves), political and social risks, changes to the regulatory framework within which Northern Star and Saracen operate or may in the future operate, environmental conditions including extreme weather conditions, geological and geotechnical events, and other environmental issues, the recruitment and retention of key personnel, industrial relations issues, litigation and outbreaks of disease or pandemics (including the continuation or escalation of the global COVID-19 pandemic). Further information in relation to risks (including those that are specific to the Scheme) will be provided in the Scheme Booklet. Any such forward looking statements are based on assumptions, qualifications and contingencies which are subject to change and which may ultimately prove to be materially incorrect, as are statements about market and industry trends, which are based on interpretations of current market conditions. Investors should consider any forward looking statements contained in this presentation in light of such matters (and their inherent uncertainty) and not place reliance on such statements. Forward looking statements are not guarantees or predictions of future performance and may involve significant elements of subjective judgment, assumptions as to future events that may not be correct, known and unknown risks, uncertainties and other factors, many of which are outside the control of Northern Star and Saracen. Any forward looking statements are based on information available to Northern Star and Saracen as at the date of this presentation. Except as required by law or regulation (including the ASX Listing Rules), Northern Star, Saracen and their respective directors, officers, employees, advisers, agents and other intermediaries disclaim any obligation or undertaking to provide any additional or updated information, whether as a result of new information, future events or results or otherwise (including to reflect any change in expectations or assumptions). Nothing in this presentation will, under any circumstances (including by reason of this presentation remaining available and not being superseded or replaced by any other presentation or publication with respect to Northern Star, Saracen or the subject matter of this presentation), create an implication that there has been no change in the affairs of Northern Star or Saracen since the date of this presentation. Investment risk As noted above, an investment in shares in Northern Star and Saracen is subject to investment and other known and unknown risks, some of which are beyond the control of Northern Star and Saracen. These risks, together with other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of shares in Northern Star and Saracen in the future. Northern Star and Saracen do not guarantee any particular rate of return or the performance of Northern Star or Saracen, nor guarantee the repayment of capital from Northern Star or Saracen, or any particular tax treatment. When making any investment decision, investors should make their own enquires and investigations regarding all information in this presentation, including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of Northern Star and Saracen, and the impact that different future outcomes may have on Northern Star and Saracen. In respect of the Scheme, investors should carefully consider the information to be made available in the Scheme Booklet (and all other materials issued by Saracen in connection with the Scheme) and seek independent advice before making any decision. PAGE 41

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