Star Entertainment : Vesting of Executive Performance Rights

11 October 2017

The Star Entertainment Group Limited (the Company) advises that pursuant to the Company's Long Term Performance Plan (the Plan), 461,198 performance rights granted to executives for the financial year ended 30 June 2014 (FY14 Grant) have vested due to the achievement of the performance hurdles on testing.

The FY14 Grant was the first award that comprised a 50% earnings per share (EPS) performance hurdle and a 50% relative total shareholder return (TSR) performance hurdle.

The EPS hurdle measures the growth in statutory earnings per ordinary share adjusted for the theoretical win rate in the VIP Rebate business. The target hurdle was set by the Board by reference to the Company's Board-approved five-year business plan. For FY17, the EPS performance was

24.9 cents and was above the target of 21.8 cents approved by the Board. Accordingly, 100% of the EPS component of the FY14 Grant vested.

The Company's TSR for the four-year period ended 1 October 2017 was 113.5%. This was ranked 10th among the defined peer group and was at the 85.9th percentile. As performance was above the 75th percentile, 100% of the TSR component of the FY14 Grant vested.

Of the 461,198 performance rights that have vested, 196,850 performance rights were granted to the Managing Director and Chief Executive Officer following shareholder approval at the Company's Annual General Meeting on 8 November 2013.

In accordance with the terms of the Plan, 461,198 ordinary shares will be purchased on-market and registered in the respective executives' names.

STARENTERTAINMENTGROUP. COM. AU T + 61 7 3228 0000

THE STAR ENTERTAINMENT GROUP LTD ABN 85 149 629 023