• Refinancing proposal with Salter Brothers Capital withdrawn
• Inability to meet certain lender requirements for security over non-gaming assets
• Continued uncertainty around the Group's ability to continue as a going concern

The Star Entertainment Group Limited (ASX: SGR) has announced the withdrawal of its refinancing proposal with Salter Brothers Capital, which was previously disclosed in announcements on 7, 11, and 25 March 2025. The refinancing proposal had the potential to provide the Group with sufficient liquidity to refinance all of its existing debt. However, after extensive engagement with Salter Brothers Capital and relevant third parties, including State Governments and regulators, it became apparent that a number of the conditions precedent to the refinancing proposal were unlikely to be satisfied, either at all or in sufficient time to address the Group's current liquidity needs. In particular, lender requirements for specific priority arrangements and enforcement rights in relation to their proposed security over non-gaming assets of The Star could not be met. As a result, the refinancing proposal has now been withdrawn. The Company continues to be unable to lodge its half-year financial report for the period ended 31 December 2024 in the absence of an appropriate refinancing solution. The Company is exploring alternative liquidity solutions that might materially increase the Group's liquidity position in the medium term, including engaging with Bally's Corporation in relation to a proposal received on 10 March 2025. However, there remains material uncertainty as to the Group's ability to continue as a going concern.