Ann: Trading Halt, page-3

It is expected that Northern Star's trading halt will be lifted upon announcement of the completion of the Placement, which is expected to occur on Monday, 3 September 2018.

The Pogo acquisition will be partly funded via a fully underwritten Placement of new fully paid ordinary Northern Star shares ("New Shares") to certain eligible institutional investors to raise approximately A$175 million at an issue price of A$6.70 per share.

The issue price represents:

• a 3.74% discount to the closing price of Northern Star shares of A$6.96 on Wednesday, 29 August 2018, being the last trading day prior to announcement of the Placement; and
• a 3.5% discount to the A$6.94 5-day VWAP of Northern Star's shares for the period ending on Wednesday, 29 August 2018.
  
• Funds and accounts under management by BlackRock Investment Management (UK) Limited currently have a substantial holding in Northern Star and intends to subscribe for New Shares in the Placement at the issue price.
  
• The Placement is within Northern Star's existing capacity under ASX Listing Rule 7.1 and accordingly no shareholder approval is required in connection with the equity raising. It is expected that Northern Star's trading halt will be lifted upon announcement of the completion of the Placement, which is expected to occur on Monday, 3 September 2018. Settlement of the Placement is expected to occur on Wednesday, 5 September 2018, with the New Shares to be allotted and commence trading on ASX on Thursday, 6 September 2018. Pursuant to the Placement, 26,119,402 New Shares will be issued. The New Shares will rank pari passu with Northern Star's existing shares with effect from their issue. The New Shares will be eligible to participate in the FY2018 full year dividend of 5¢ per share announced by Northern Star on 23 August 2018.