• Parties agree on principles to depart from existing Heads of Agreement
• Termination date extended to 31 July 2025 to facilitate ongoing negotiations
• The Star to make $10 million repayment and $26.5 million reimbursement if long-form documents not entered

The Star Entertainment Group Limited (ASX: SGR) has provided an update on the binding Heads of Agreement (HoA) with its joint venture partners, Chow Tai Fook Enterprises Limited and Far East Consortium International Limited, regarding The Star's ownership interests in the Destination Brisbane Consortium (DBC), Destination Gold Coast Consortium (DGCC) and other assets. The parties have agreed on a set of principles under which there will be certain departures from the existing HoA, and they will now progress their negotiations with a view to finalizing long-form documents. To facilitate this, the parties have agreed to extend the termination date of the HoA to 31 July 2025. If long-form documents are not entered into by the revised termination date, The Star will be obliged to make two payments to the joint venture partners: 1) Repay $10 million of proceeds received from the partners, payable within 30 days, and 2) Reimburse the partners for their share of equity contributions made to DBC since 31 March 2025, currently anticipated to be approximately $26.5 million, payable within 60 days. The Star will provide further updates on any material developments in its negotiations with the joint venture partners, including any material changes to the HoA.