2025 General Meeting Chairman's Address

• The Star has entered into a binding term sheet with Bally's for a strategic investment of $300 million
• The Star's largest shareholder, Investment Holdings, has committed to subscribe for $100 million of the strategic investments
• Shareholder approval is required for the strategic investments as they will result in Bally's and Investment Holdings each exceeding 20% ownership

The Star Entertainment Group Ltd has announced its 2025 General Meeting Chairman's Address, detailing a strategic investment of $300 million from Bally's and $100 million from its largest shareholder, Investment Holdings. The strategic investments will provide cash funding and assist The Star's ability to continue as a going concern, helping to avoid outcomes such as voluntary administration. Shareholder approval is required as the investments will result in Bally's and Investment Holdings each exceeding 20% ownership in The Star. The Independent Expert has concluded that the strategic investments are reasonable and in the best interests of non-associated shareholders. The Star is also seeking shareholder approval to ratify the prior allotment and issue of convertible notes to Bally's and Investment Holdings. The Star Board unanimously recommends that shareholders vote in favor of the strategic investments and placement capacity refresh resolutions.