Northern Star Resources' stake in PolarX Limited decreases to 13.99%

Northern Star Resources Ltd, a substantial holder, has reported a change in its relevant interest in PolarX Limited. As of September 15, 2025, Northern Star's voting power in PolarX Limited stands at 13.99%, a decrease from the previously reported 15.98% on April 8, 2024. The total number of ordinary fully paid shares held by Northern Star has increased to 379,788,699, up from 327,513,699 shares.

The changes in Northern Star's relevant interest are primarily attributed to dilution events stemming from placements by PolarX Limited, alongside participation in one such placement. On May 29, 2024, a dilution from 15.98% to 15.97% occurred. Subsequently, on August 6, 2024, Northern Star participated in a placement, acquiring an additional 52,275,000 ordinary shares for a consideration of $522,750.00, which temporarily increased its voting power from 15.97% to 16.16%.

Further dilution events were noted on August 9, 2024, reducing the voting power from 16.16% to 15.99%, and most recently on September 15, 2025, bringing the voting power down to 13.99%. Stuart Tonkin, managing director, signed the notice on behalf of Northern Star Resources Ltd.