ASX Announcement

3 October 2019

VESTING OF EXECUTIVE PERFORMANCE RIGHTS

The Star Entertainment Group Limited (the Company) advises that pursuant to the Company's Long Term Incentive Plan (the Plan), no performance rights previously granted to various executives for the financial year ended 30 June 2016 (FY16 Grant)) have vested due to the non-achievement of the performance hurdles on testing.

The performance rights that have lapsed include 253,456 performance rights granted to the Managing Director and Chief Executive Officer following shareholder approval at the Company's Annual General Meeting on 4 November 2015.

Performance hurdles - testing outcomes

The FY16 Grant comprised a 50% earnings per share (EPS) performance hurdle and a 50% relative total shareholder return (TSR) performance hurdle.

The EPS hurdle measures the growth in statutory earnings per ordinary share adjusted for the theoretical win rate in the VIP Rebate business. The target hurdle of 35.2 cents per share was set by the Board by reference to the Company's Board approved five-year business plan. The threshold hurdle of 33.5 cents per share was set by the Board by reference to market consensus at the time. For FY19, the EPS performance was below the threshold and target approved by the Board. Accordingly, none of the EPS component of the FY16 award vested.

The Company's TSR for the four year period ended 21 September 2019 was -3.089%. This was ranked 58th among the defined peer group and was at the 14.93 percentile. As the TSR ranking was below 50th percentile, none of the TSR component of the FY16 award vested.

STARENTERTAINMENTGROUP.COM.AU

T + 61 7 3228 0000

THE STAR ENTERTAINMENT GROUP LTD

ABN 85 149 629 023

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Star Entertainment Group Limited published this content on 03 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2019 03:33:03 UTC