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ASX/MEDIA RELEASE FOR IMMEDIATE RELEASE 15 June 2022

SCHEME LEGALLY EFFECTIVE

MELBOURNE: Crown Resorts Limited (ASX:CWN) (Crown) announces that, further to the announcement earlier today, it has lodged an office copy of the orders made by the Federal Court of Australia (Court) approving the proposed acquisition of Crown by SS Silver II Pty Ltd, an entity owned by funds managed or advised by Blackstone Inc. and its affiliates (Blackstone), by way of scheme of arrangement (Scheme) with the Australian Securities and Investments Commission (ASIC) pursuant to subsection 411(10) of the Corporations Act 2001 (Cth).

An office copy of the Court orders lodged with ASIC is set out in the attachment to this announcement.

The Scheme is now legally effective and it is expected that quotation of Crown shares on the ASX will be suspended from the close of trading today. Quotation of Crown's subordinated notes listed on the ASX under the code "CWNHB" will not be suspended.

Crown shareholders will be paid $13.10 cash per Crown share on the implementation of the Scheme (expected to be 24 June 2022) in respect of Crown shares held at 7.00pm (Melbourne time) on 17 June 2022.

Please note that Blackstone's existing shareholding in Crown will be excluded from the Scheme.

ENDS

This announcement was authorised for release by the Crown Board.

Investor and Analyst Enquiries - Matthew Young, Investor Relations, 03 9292 8848.

Media Enquiries - Natasha Stipanov, Corporate Affairs, 03 9292 8671.

COPIES OF RELEASES

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

Crown Resorts Limited ABN 39 125 709 953

Level 3, Crown Towers, 8 Whiteman Street, Southbank VIC 3006

Page 1

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Federal Court of Australia

District Registry: Victoria

Division: General

No: VID111/2022

IN THE MATTER OF CROWN RESORTS LIMITED

ACN 125 709 953

CROWN RESORTS LIMITED

ACN 125 709 953

ORDER

JUDGE:

JUSTICE ANDERSON

DATE OF ORDER:

15 June 2022

WHERE MADE:

Melbourne

OTHER MATTERS:

  1. The Court notes that there has been produced to the Court a statement in writing by the Australian Securities and Investments Commission (ASIC) in accordance with section 411(17)(b) of the Corporations Act 2001 (Cth) (Act) stating that ASIC has no objection to the Scheme of Arrangement between the plaintiff and its members referred to in this order.

THE COURT ORDERS THAT:

  1. Pursuant to section 411(6) of the Act, the Scheme of Arrangement between the plaintiff and its members agreed to by the said members at the meeting held on 20 May 2022 (Scheme) be altered as shown in tracked changes in Annexure A to these orders, such that the Scheme as so altered is as set out in Annexure B to these orders
  2. Pursuant to section 411(4)(b) of the Act, the Scheme as so altered be and is hereby approved.
  3. Pursuant to section 411(12) of the Act, the plaintiff be exempted from compliance with section 411(11) of the Act in relation to the Scheme.

Prepared in the Victoria District Registry, Federal Court of Australia

Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 1300 720 980

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4. Pursuant to rule 39.34 of the Federal Court Rules 2011 (Cth), these orders be entered forthwith.

Date that entry is stamped: 15 June 2022

Prepared in the Victoria District Registry, Federal Court of Australia

Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 1300 720 980

For personal use only

Prepared in the Victoria District Registry, Federal Court of Australia

Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 1300 720 980

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For personal use only

Prepared in the Victoria District Registry, Federal Court of Australia

Level 7, Owen Dixon Law Courts, 305 William Street, Telephone 1300 720 980

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Crown Resorts Limited published this content on 15 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2022 06:52:05 UTC.