NORTHERN STAR RESOURCES LTD — Remuneration Information 2019

Oct 20, 2019

[ASX: NST ]

21 October 2019

FY17 PERFORMANCE RIGHTS VEST

Northern Star Resources Limited (ASX: NST) is pleased to advise that the single grant of 9,345,200 FY17 Performance Rights awarded to Key Management Personnel and other senior employees in December 2016 have vested after a three year performance period. As a result, 9,345,200 fully paid ordinary shares have been issued to the Employee Share Trust, as detailed in the Appendix 3B attached, in preparation for employees exercising the FY17 Performance Rights.

The FY17 Performance Rights were measured over a three year period from 16 October 2016 to 16 October 2019, against the performance hurdles detailed below.

Performance Hurdle	Weighting	Target	Vesting – pro rata	Result = 100% vesting
Absolute Total Shareholder Return (TSR)	60%	Absolute TSR of 15% of compound annual growth rate (CAGR) - measured 16 October 2019	<10% = 0% vest = 10% = 50% vest >10% to <15% = pro rata vest >15% = 100% vest	Absolute TSR of 43.884% CAGR
Relative TSR	20%	Relative TSR of>50% of peer group1 - measured 16 October 2019	<50thpercentile = 0% vest = 50thpercentile = 50% vest >50thpercentile <75thpercentile = pro rata vest >75th percentile = 100% vest	100th percentile
Safety – long term reduction in lost time injury frequency rate2 (LTIFR)	20%	20% year on year reduction in LTIFR from current levels - measured 30 June 2019	>2.5 = 0% =2.5 = 50% <2.5 to >2.1 = pro rata vest <2.0 = 100%	LTIFR 0.5
Total	100%			100% vesting

1 Peer group established on 16 October 2016 on the basis of the company’s operations and market capitalisation, comprises Saracen Mineral Holdings Ltd, Evolution Mining Ltd, Centerra Gold Ltd, Alacer Gold Corp, Dundee Precious Metals Inc, Regis Resources Ltd, Gold Fields Ltd, B2Gold Corp, St Barbara Ltd, Endeavour Mining Corporation, IAMGOLD Corporation, Centamin plc, Oceanagold Corporation, Detour Gold Corporation, Semafo Inc, Resolute Mining Ltd, Alamos Gold Inc, Eldorado Gold Corporation and New Gold Inc.

2 Calculated based on the number of lost time injuries occurring in a workplace per 1 million hours worked.

ASX Announcement 21 October 2019

FY17 PERFORMANCE RIGHTS VEST

Nick Cernotta, Chairperson of the Company's Remuneration Committee, said “The performance metrics were set by the Board in FY17 to focus the Executive KMP on the drivers of shareholder value, and on long term safety performance, over a three year period from a single grant of performance rights, to retain and motivate Executive KMP with market competitive incentives to pursue long term growth and success in line with the Company’s strategy, vision and mission.

“These results are an outstanding achievement by the Company, delivered through operational excellence, investing heavily into exploration, growing production, optimising assets, developing an exceptional management team and financial discipline.

“The Northern Star business is driven by its STARR Core Values of Safety, Teamwork, Accountability, Respect and Results. Safety is central to our culture, and our commitment to continual safety improvement is also demonstrated in this performance.”

Of the 9,345,200 shares:

• 2,120,000 are subject to one years’ escrow, until 17 October 2020, and

• 2,120,000 are subject to two years’ escrow, until 17 October 2021.

Further information on Northern Star’s Remuneration Policy and relationship with performance is included in the Company's 2019 Remuneration Report.

Yours faithfully

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JOHN FITZGERALD Lead Independent Director Northern Star Resources Limited

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NICK CERNOTTA Chairperson, Remuneration Committee Northern Star Resources Limited

Investor Relations Enquiries: Luke Gleeson Northern Star Resources Limited T: +61 8 6188 2103 E: lgleeson@nsrltd.com

Media Enquiries:

Paul Armstrong Read Corporate T: +61 8 9388 1474 E: paul@readcorporate.com.au