Highlights

• Suresh Vadnagra will succeed Stuart Tonkin as Managing Director and CEO of Northern Star, effective 5 October 2026

• Vadnagra is currently Head of Glencore Nickel and Zinc Industrial Assets, with prior roles at Newcrest, BHP, Iluka Resources and MMG

• Northern Star Resources shares traded at 19.70 AUD, up 4.76% on the day of the announcement

Northern Star Resources Ltd (ASX:NST) announced on 2 July 2026 the appointment of Suresh Vadnagra to succeed Stuart Tonkin as Managing Director and CEO, effective 5 October 2026. The appointment follows a search process conducted by the Board as part of its succession planning. Northern Star shares traded at 19.70 AUD on the day, up 4.76 percent, or 0.90 AUD.

Background of the Incoming CEO

Suresh Vadnagra has more than 25 years of experience spanning strategy, operations, major projects, transactions, business transformation and enterprise leadership across large, complex, multi-commodity portfolios. He is currently Head of Glencore Nickel and Zinc Industrial Assets, based in Switzerland, with responsibility for more than 25 operations spanning open pit and underground mines, smelters and refineries across Australia, North America, Asia and Europe.

Prior to Glencore, Vadnagra was Chief Technical and Projects Officer at Newcrest, where he was accountable for major projects, technical teams and technology, overseeing growth projects including Red Chris block cave, Cadia's future panel caves, Havieron and Wafi-Golpu. He also held roles with BHP, Iluka Resources and MMG, including as Executive General Manager Operations with MMG at the Las Bambas copper mine in Peru.

Qualifications and Appointment Process

Vadnagra holds a Bachelor of Engineering (Mechanical) with Honours from the University of Western Australia and a Master of Business Administration from Southern Cross University. His appointment follows a search conducted with the involvement of a global executive search firm, with the Board assessing candidates across the gold sector, diversified mining companies, base metals producers and adjacent mining-related organisations.

Northern Star Chairman Michael Chaney said the Board believes Vadnagra's broad operational experience and leadership qualities can deliver value for shareholders, citing his track record of execution and commitment to safety.

Leadership Transition Arrangements

Stuart Tonkin will step down as Managing Director and CEO during the first quarter of FY27, having led the company for 13 years. The Board has appointed Chief Financial Officer Ryan Gurner as deputy CEO, effective immediately, with Gurner set to serve as interim CEO between Tonkin's departure and Vadnagra's commencement.

Vadnagra said he is looking forward to working with the Northern Star team to progress the company's major development projects, enhance operational performance and further strengthen its portfolio, which includes ramping up the KCGM operation and progressing the Hemi project.

Remuneration Package

Under his employment agreement, Vadnagra will receive Total Fixed Remuneration of $2,200,000 per annum, alongside a maximum FY27 Short-Term Incentive opportunity of 140 percent of TFR and two Long-Term Incentive opportunities each of up to 200 percent of TFR, subject to shareholder approval at the 2026 Annual General Meeting.

In recognition of incentives forfeited on leaving his previous employer, Vadnagra will also receive sign-on rights valued at $4,000,000, vesting across three tranches, and a cash sign-on payment of $1,600,000 on commencement of employment, both also subject to the terms outlined in the announcement's appendix.

Share Price Performance

Northern Star Resources shares traded at 19.70 AUD as at 3:01 pm on 2 July 2026, up 0.90 AUD or 4.76 percent for the session. The gain coincided with the announcement of the CEO succession plan, with the market response reflecting the profile of the incoming Managing Director relative to the company's existing leadership transition timeline.

Conclusion

The appointment of Suresh Vadnagra concludes Northern Star's succession planning process for the Managing Director and CEO role, with a defined leadership transition running from Stuart Tonkin's departure in the first quarter of FY27, through an interim period led by Ryan Gurner, to Vadnagra's commencement on 5 October 2026. Full details of the incoming CEO's employment terms have been disclosed in the appendix to the announcement.