THE STAR ENTERTAINMENT GROUP LIMITED — M&A Activity 2021

Jul 22, 2021

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ASX/MEDIA RELEASE FOR IMMEDIATE RELEASE 23 July 2021

THE STAR ENTERTAINMENT GROUP WITHDRAWS MERGER PROPOSAL

MELBOURNE: Crown Resorts Limited (ASX:CWN) (Crown) notes the announcement by The Star Entertainment Group Limited (The Star) this morning that The Star has unilaterally decided to withdraw its conditional, non-binding, indicative proposal to merge with Crown as announced on 10 May 2021.

Crown remains willing to engage with The Star in relation to a potential merger on terms acceptable to both Crown and The Star.

The Board is committed to maximising value for all Crown shareholders and will carefully consider any proposal that is consistent with this objective.

Crown is continuing to implement its Reform Agenda. Crown will also continue to fully co-operate in relation to the various regulatory processes.

ENDS

This announcement was authorised for release by the Executive Chairman, Helen Coonan.

Investor and Analyst Enquiries – Matthew Young, Investor Relations, 03 9292 8848.

Media Enquiries – Natasha Stipanov, Corporate Affairs, 03 9292 8671.

COPIES OF RELEASES

Copies of previous media and ASX announcements issued by Crown are available on Crown's website at www.crownresorts.com.au

Crown Resorts Limited ABN 39 125 709 953 Level 3, Crown Towers, 8 Whiteman Street, Southbank VIC 3006