THE STAR ENTERTAINMENT GROUP LIMITED — M&A Activity 2021

May 16, 2021

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ASX/MEDIA RELEASE FOR IMMEDIATE RELEASE 17 May 2021

UPDATE ON THE MERGER PROPOSAL FROM THE STAR ENTERTAINMENT GROUP

MELBOURNE: Crown Resorts Limited (ASX: CWN) (Crown) refers to its previous announcement in relation to the unsolicited, conditional, non-binding and indicative proposal from The Star Entertainment Group Limited (Star) to merge with Crown by way of a scheme of arrangement (the Merger Proposal).

The Crown Board has not yet formed a view on the merits of the Merger Proposal.

To facilitate the Crown Board’s assessment of the Merger Proposal, Crown has requested Star to provide certain information to allow the Crown Board to better understand various preliminary matters.

Crown shareholders do not need to take any action in relation to the Merger Proposal at this stage. There is no certainty that the Merger Proposal will result in a transaction.

ENDS

This announcement was authorised for release by the Crown Board.

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 at Crown's website at www.crownresorts.com.au

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