• The Star Entertainment Group received notice from its joint venture partners to terminate the binding heads of agreement for the DBC transaction
• The parties have continued to negotiate but have not reached an agreement on outstanding commercial issues
• The Star remains willing to continue negotiations with its joint venture partners to give effect to the DBC transaction

The Star Entertainment Group Limited (ASX: SGR) has provided an update on the status of its negotiations with its joint venture partners, Chow Tai Fook Enterprises Limited and Far East Consortium International Limited, regarding the Destination Brisbane Consortium (DBC) transaction. The company had previously announced a binding heads of agreement (HoA) with its joint venture partners, which outlined the basis for The Star to exit its equity interest in DBC and consolidate its position on the Gold Coast. The long form documents were required to be entered into by 30 April 2025, but this deadline was not met. As a result, each party became entitled to terminate the HoA by providing five business days' written notice to the other party. Since the recent general meeting of The Star's shareholders, the parties have continued to negotiate with a view to finalizing the long form documents, but as of the morning of 30 June 2025, they have not reached an agreement on the outstanding commercial issues. The Star has now received a notice from the joint venture partners to terminate the HoA, which will become effective five business days from today, unless withdrawn earlier. Despite the receipt of this termination notice, The Star remains willing to continue negotiations with its joint venture partners to give effect to the DBC transaction. The company will provide an update when there are further material developments with respect to its negotiations.