Wynn Macau : Voluntary Announcement – Correspondence with our Construction Contractor

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(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1128)

VOLUNTARY ANNOUNCEMENT

CORRESPONDENCE WITH OUR CONSTRUCTION CONTRACTOR

Reference is made to our announcement dated 19 November 2015 in respect of the revised opening date of Wynn Palace, an integrated luxury hotel and destination casino resort we are currently constructing and developing in the Cotai area of Macau.

To reinforce the importance of meeting the scheduled 25 June 2016 opening date for Wynn Palace in light of concerns with the progress of our construction contractor, Leighton Contractors (Asia) Limited ("Leighton"), our Company issued the following letter to Leighton on 26 January 2016:

"Wynn Palace - Liability for Payment of Liquidated Damages for Delay

We are concerned that with your current levels of progress in the execution of the Work, you will fail to achieve the Third Interim Milestone (Tower Fit-out of floors 10/15). The Contract provides that you will be liable to pay US$200,000 per day for each day of delay for achievement of this Interim Milestone and, accordingly, in the region of between US$8-10 million could become payable by the end of February 2016 in respect of this Interim Milestone.

With respect to our previous Notice of your failure to achieve the First Interim Milestone which was sent to you in January 2016, and your liability under the Contract for the payment of liquidated damages for delay, US$1 million will be deducted from your December 2015 payment application. Your liability for payment of delay damages up to the end of January 2016 is likely to amount to an additional US$6.2 million.

* For identification purposes only.

We wish to remind you of your obligations under the Contract to achieve Interim Milestones and Substantial Completion of the Work by late June 2016. Please be informed that it is our intention to deduct any liquidated damages which become payable by you from payments which are otherwise due to you under the Contract in respect of any failure by you to meet your completion obligations under the Contract. Your total aggregate potential liability under the Contract for delay damages is US$200,000,000. Needless to say, per your election to forgo the early completion option, you are now no longer eligible to receive an early completion bonus of approximately US$38,000,000.

You are also aware that a Parent Completion Guarantee was provided by your parent company, formerly Leighton Holding Limited, on 28 November 2012 and Performance Bonds have also been provided in accordance with the requirements of the Contract, as security for your obligations under the Contract."

Please refer to our announcement dated 30 July 2013 and circular dated 30 August 2013 for further information about the agreement for the provision of construction works for Wynn Palace.

By order of the Board Wynn Macau, Limited Stephen A. Wynn Chairman

Hong Kong, 27 January 2016

As at the date of this announcement, the board of directors comprises Stephen A. Wynn, Gamal Aziz, Ian Michael Coughlan and Linda Chen (as Executive Directors); Matthew O. Maddox (as Non-Executive Director); and Allan Zeman, Nicholas Sallnow- Smith, Bruce Rockowitz and Jeffrey Kin-fung Lam (as Independent Non-Executive Directors).