NORTHERN STAR RESOURCES LTD — Board/Management Information 2021

Jul 21, 2021

[ASX: NST ]

ASX Announcement 22 July 2021

STUART TONKIN APPOINTED MANAGING DIRECTOR

Northern Star Resources Ltd (ASX: NST) is pleased to announce that Chief Executive Stuart Tonkin has been appointed Managing Director, effective today[1] .

With the merger of Northern Star and Saracen Mineral Holdings bedded down, Raleigh Finlayson will move from Managing Director to Executive Director for a transitionary period of approximately two months. Mr Finlayson will then retire from the Board. Mr Finlayson will re-join the Board as a Non-Executive Director on 4 April 2022. Mr Finlayson will use the six-month period to take a break and complete an Advanced Management Program with Harvard University.

Northern Star Chair Michael Chaney said he was delighted that Mr Tonkin had accepted the offer to lead the Company into its next era of development and growth, starting with delivering the five-year strategy.

“Stuart is highly qualified for the role in every respect,” Mr Chaney said. “He is widely regarded as one of the leading resource project operators in Australia and has more than 20 years’ experience as a senior executive in the industry.

“Having spent the past five years as Chief Executive of Northern Star and three years before then as the Company’s Chief Operating Officer, Stuart has firsthand knowledge of our business, with an extensive understanding of the assets, and especially our people.

“Stuart is perfectly placed to lead Northern Star as we seek to optimise the operational performance and financial returns of the exceptional asset base which the Company has established as the result of an intense period of merger and acquisition activity.”

Mr Chaney said Mr Finlayson would assist the transition process by remaining an Executive Director for a short period ahead of taking a well-earned break.

“I am a firm believer that senior executives should leave a Company for a period before returning as nonexecutive directors,” Mr Chaney said. “Our arrangements with Raleigh meet this objective while also enabling him to complete his study and take a break after 13 years of leading Saracen and Northern Star.

“We will then have the opportunity to benefit from his return to the Board in 2022.”

Authorised for release to the ASX by Michael Chaney, Non-Executive Chair.

Investor Relations Enquiries: Media Enquiries: Troy Irvin Paul Armstrong Chief Investor Relations Officer Read Corporate T: +61 8 6188 2100 T: +61 8 9388 1474 E: investorrelations@nsrltd.com E: paul@readcorporate.com.au

1 A summary of the material terms of Mr Tonkin’s employment are set out in Appendix A to this announcement.

ASX Announcement 22 July 2021

APPENDIX A: MATERIAL TERMS OF EMPLOYMENT AGREEMENT

El
	ement		Employment term
C
	ontract duration		Commencing on 22with or without cau		July 2021, with no fixed tese		rm, subject to termination
N	otice period for termination	by	6 months
N	orthern Star
N	otice period for termination	by	3 months
St	uart Tonkin
Fi
	xed annual remuneration (F	AR)	A$1,700,000 (inclu		sive of superannuation)
ST	I opportunity - annual gran	t	100% of FAR
(1 year performance period, KPIs
include ESG, production
performance and financial
management)
LT
	I opportunity - annual grant		2(l	00% of FARong term incentive performance rig		hts with performance period endin
(4
	year performance period, KPIs		o	n 30 June 2025)		,
in	clude relative Total Shareholder
R	eturn and ESG)
LTI-2 opportunity - once only grant			150% of FAR(long term incentive performance rights, with performance period endingon 30 June 2024)
to bridge the Company’s move
from a 3 year to 4 year vesting of
LTIs
(3 year performance period, KPIs
include relative Total Shareholder
R	eturn and ESG)
O	ther provisions		E	mployment Agreement contains pro		visions regarding duties leave		ry
			e	ntitlements, confidentiality, intellect		,ual property, restrictions and ancilla
			c	lauses.