Crown Resorts : Redemption of Subordinated Notes - CWNHA

ASX / MEDIA RELEASE FOR IMMEDIATE RELEASE 19 July 2018

REDEMPTION OF SUBORDINATED NOTES - CWNHA

MELBOURNE: Crown Resorts Limited (ASX: CWN) ("Crown") announced today that it has elected to redeem all of the outstanding Subordinated Notes listed on the ASX under the code "CWNHA" ("Notes") on the first call date of Friday, 14 September 2018, in accordance with the terms of the Notes.

Noteholders who are on the register at 7.00pm (AEST) on Thursday, 6 September 2018 will be entitled to receive the face value of $100 per Note plus the final interest payment of $1.78 per Note ("Redemption Amount").

The last day of trading of Notes on the ASX will be Tuesday, 4 September 2018.

The key dates in relation to the Notes redemption, which are indicative only, are set out in the table below.

Copies of previous media and ASX announcements issued by Crown are available at Crown's website atwww.crownresorts.com.au

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Dear Noteholder,

NOTICE OF REDEMPTION OF NOTES relating to

CROWN RESORTS LIMITED

ABN 39 125 709 953

Computershare Investor Services Pty Limited

GPO Box 2975 Melbourne

Victoria 3001 Australia

Enquiries (within Australia) 1300 659 795

(outside Australia) 61 3 9415 4254

Facsimile 61 3 9473 2500www.investorcentre.com

All Correspondence to:

Subordinated Notes issued on 14 September 2012 in accordance with the

Prospectus dated 13 August 2012, and replaced on 21 August 2012

Crown Resorts Limited (Crown) hereby irrevocably gives notice that it has elected to redeem all of the outstanding Subordinated Notes listed on the ASX under the code "CWNHA" (Notes) on the first call date of Friday, 14 September 2018, in accordance with the terms of the Notes as set out in the Trust Deed dated 13 August 2012, as supplemented

(Terms of Issue).

On 14 September 2018, for each Note you hold at 7.00pm on Thursday, 6 September 2018, being the record date for the redemption payment, you will be entitled to receive:

• (a) $100, being 100% of the face value per Note; plus

• (b) $1.78, being the accrued but unpaid interest in respect of each Note for the interest period from, and including, 14 June 2018 to, but excluding, 14 September 2018,

(the Redemption Amount).

Payment of the Redemption Amount will be made subject to the Terms of Issue, applicable law and in accordance with your existing payment instructions. You may update your payment instructions online through Computershare's Investor Centre site atwww.investorcentre.com at any time until 5.00pm (AEST) on Thursday, 6 September 2018.

Noteholders can sell Notes at any time up to, and including, Tuesday, 4 September 2018, being the last day of trading of the Notes on the ASX.

If you have any further enquiries please visithttps://www-au.computershare.com/Investor/Contact or alternatively call 1300 659 795 (within Australia) or +61 3 9415 4254 (outside Australia), Monday to Friday AEST 8:30am to 7:00pm.

On behalf of the Board, I would like to thank you for your investment in the Notes and your support of Crown.

Yours sincerely

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