Northern Star Resources : Investor Presentation – KCGM Site Visit

The Australian Gold Miner - For Global Investors

KCGM Site Visit

- May 2021

Forward Looking Statements, Reserves and Resources

Forward Looking Statements

Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Northern Star Resources Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.

This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, Resource or Reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

ASX Listing Rules Disclosures

The information in this announcement that relates to the ore reserves and mineral resources, and production targets of Northern Star has been extracted from the ASX release by Northern Star entitled "Resources, Reserves and Exploration Update" dated 3 May 2021 available at www.nsrltd.comand www.asx.com(Northern Star Announcement).

Northern Star confirms that it is not aware of any new information or data that materially affects the information included in the Northern Star Announcement and, in relation to the estimates of Northern Star's ore reserves and mineral resources, that all material assumptions and technical parameters underpinning the estimates in the Northern Star Announcement continue to apply and have not materially changed. Northern Star confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that announcement.

*Statements in this ASX Announcement comparing Northern Star's 31 March 2021 Ore Reserves and Northern Star's 31 March 2021 Mineral Resources to previously announced Ore Reserves and Mineral Resources, are comparisons to the combined production guidance profile of Northern Star post-merger implementation date of 12 February 2021, as disclosed in the Scheme Booklet issued by Saracen Mineral Holdings Ltd dated 10 December 2020 at sections 7.1 to 7.3. Production is the sum of company guidance and AISC is the weighted average of company guidance. Refer to

Northern Star's ASX Announcement dated 13 August 2020 entitled "Resources and Reserves, Production and Cost Guidance Update (ex KCGM)", Saracen's ASX Announcement dated 4 August 2020 entitled "Carosue Dam and Thunderbox only - Reserves rise to 3.7Moz" and joint Northern Star and Saracen ASX Announcement dated 18 August 2020 entitled "KCGM Reserves, Resources and Guidance Update", available at www.asx.comand www.nsrltd.com.

Rounding is applied in this ASX Announcement for the percentage comparisons and for the 31 March 2021 Ore Reserves and Mineral Resources figures.

All currency conversions in this document were converted at a spot conversion rate of AUD/USD of $0.78.

Authorised to release to the ASX by Bill Beament, Executive Chair.

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Contents

▪	INTRODUCTION	Stuart Tonkin - Chief Executive Officer	1
▪	ASSET OVERVIEW	Kous Kirsten - General Manager	5
▪	ESG	Dave McCutcheon - HSEC Manager	12
▪	MINE GEOLOGY	Emma Murray-Hayden - Geology Manager	15
▪	RESOURCES AND RESERVES	Emma Murray-Hayden - Geology Manager	20
▪	OPEN PIT MINING	Justin Foster - Open Pit Manager	25
▪	UNDERGROUND MINING	Rob Parsons - Underground Manager	32
▪	PROCESSING	Greg Sheppard - Processing Manager	38
▪	EXPLORATION	Michael Mulroney - Chief Geological Officer	41

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A business first, mining company second

Core Values

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ASSET OVERVIEW

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