Elliott Investment Management L.P., whose funds together hold an investment of approximately 5.6% in Northern Star Resources Ltd, said Northern Star's August 13 letter asks investors to rely on directors Elliott blames for years of profound underperformance to run a board renewal process controlled entirely by the current board. Elliott said "This is not renewal. It is entrenchment," but added that it remains willing to work constructively with Northern Star toward a genuinely strengthened board that can realize the company's full potential for investors, employees and others who depend on its success. The firm directed readers to ElliottLetters.com/NST for its broader case on Northern Star and said it managed approximately $80.3 billion of assets as of June 30, 2026.