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ASX : NST March 2021 Quarterly Activities Report NORTHERN STAR RESOURCES LIMITED 21 April 2021 NORTHERN STAR BEDS DOWN MERGER AND REMAINS ON TRACK TO MEET FY21 GUIDANCE Strong progress made towards May Reserve - Resource update and July Strategy Day KEY POINTS Environment , Social and Safety ( ESS ) ▪ LTIFR at 1.2 , 40 % below the WA Gold Mining Average of 2.0 ■ Annual 2020 Sustainability Report released Production * March quarterly Group gold sold of 368,273oz at an AISC of A $ 1,598 / oz ( US $ 1,235 / oz ) ; Site by site : Kalgoorlie Production Centre : 234,419oz gold sold at an AISC of A $ 1,573 / oz ( US $ 1,216 / oz ) , including ; KCGM 107,762oz at an AISC of A $ 1,496 / oz о Kalgoorlie Operations 66,594 at an AISC of A $ 1,922 / oz Carosue Dam 59,793oz at an AISC of A $ 1,305 / oz о Yandal Production Centre : 94,116oz gold sold at an AISC of A $ 1,350 / oz ( US $ 1,044 / oz ) , including ; Jundee 63,988oz at an AISC of A $ 1,409 / oz Thunderbox 30,128oz at an AISC of A $ 1,061 / oz North American Production Centre : Pogo 40,008oz gold sold at an AISC of US $ 1,716 / oz Group all - in cost ( AIC ) of A $ 1,952 / oz , after significant investment for sector leading production growth District milling optimisation underway , with initial parcels of Mt Charlotte and Kundana ore successfully processed respectively at the Kanowna Belle and Carosue Dam mills Gold sold for nine months to 31 March of 1.15Moz ( FY21 guidance 1.5-1.7Moz ) ; AISC for the nine months of A $ 1,497 / oz ( FY21 guidance # for Australian Operations is A $ 1,370-1,470 / oz and US $ 1,200-1,400 / oz for Pogo ) Financial * March quarter average realised price of A $ 2,222 / oz for revenue of A $ 772M ( 131,298oz hedging delivered at A $ 2,053 / oz ) Cash and bullion of A $ 696M at 31 March 2021 after paying A $ 153M in dividends , A $ 61M in M & A and investing A $ 167M in growth capital and exploration ■ Corporate bank debt of A $ 658M ■ Underlying free cash flow of A $ 97M ■ Hedge book at 31 March is 844,309oz at an average price of A $ 2,203 / oz ( A $ 2,128 / oz at 31 December ) Growth and Exploration ■ The scheme of arrangement by which Northern Star acquired all of the shares in Saracen was successfully implemented on 12 February 2021 ; Post - merger integration in final stages and ahead of schedule Exploration and Reserves / Resources update is set for release in early May 2021 Northern Star Resources Limited - ABN : 43 092 832 892 Level 1 , 388 Hay Street PO Box 2008 Subiaco WA 6008 , Australia Subiaco WA 6904 T : +61 8 6188 2100 F : +61 8 6188 2111 E : info@nsrltd.com W : www.nsrltd.com