• On-market share buy-back of up to A$500 million as part of capital management strategy
• Aligns with disciplined capital allocation priorities, maintains strong balance sheet
• Enhances shareholder returns through dividends and buy-backs

Northern Star Resources Ltd (ASX: NST) is pleased to announce its intention to undertake an on-market share buy-back of up to A$500 million. The buy-back aligns with Northern Star's disciplined capital allocation priorities, which include returning cash to shareholders, investing in growth projects and maintaining a strong balance sheet. The share buy-back will not affect the Company's dividend policy to pay out between 20% and 30% of Cash Earnings. The on-market buy-back will be conducted over the next 12 months, subject to market conditions, Northern Star's prevailing share price, its future capital requirements and any unforeseen developments. The final amount of the buy-back and the exact timing of any trades will depend on these factors, and there is no assurance that Northern Star will buy back any or all of the up to A$500 million worth of shares contemplated. Northern Star reserves the right to suspend or terminate the buy-back at any time. The buy-back will fall within the '10/12' limit permitted under the Corporations Act and does not require shareholder approval.