Presentation on Q1 September FY20 Quarterly Report and audio webcast - PDF document

ASX Release / 21 October 2019 Presentation on Q1 September FY20 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q1 September FY20 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 11 hours) on Monday 21 October 2019. Participation on the conference call is by personal invitation only. A live audio webcast of the briefing will be available on St Barbara’s website at stbarbara.com.au/investors/webcast/ or by clicking here. The audio webcast is ‘listen only’ and does not enable questions. The audio webcast will subsequently be made available on the website. Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1959 ASX: SBM Media Relations Mr Tim Duncan GRACosway with Hintons +61 408 441 122 ADR: STBMY St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 T +61 3 8660 1900 F +61 3 8660 1999 W www.stbarbara.com.au ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003

BOB VASSIE, MANAGING DIRECTOR & CEO / 21 October 2019 ASX:SBM Q1 September FY20 Quarterly Presentation

Disclaimer This presentation has been prepared by St Barbara Limited (“Company”). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. This presentation may contain forward-looking statements that are subject to risk factors associated with exploring for, developing, mining, processing and sale of gold. Forward-looking statements include those containing such words as anticipate, estimates, forecasts, should, will, expects, plans or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, and which could cause actual results or trends to differ materially from those expressed in this presentation. Actual results may vary from the information in this presentation. The Company does not make, and this presentation should not be relied upon as, any representation or warranty as to the accuracy, or reasonableness, of such statements or assumptions. Investors are cautioned not to place undue reliance on such statements. This presentation has been prepared by the Company based on information available to it, including information from third parties, and has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained in this presentation. The Company estimates its reserves and resources in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2012 Edition (“JORC Code”), which governs such disclosures by companies listed on the Australian Securities Exchange. Financial figures are in Australian dollars unless otherwise noted. Financial year is 1 July to 30 June. Q1 Sep FY20 = quarter to 30 Sep 2019 Q3 Mar FY20 = quarter to 31 Mar 2020 Q2 Dec FY20 = quarter to 31 Dec 2019 Q4 Jun FY20 = quarter to 30 June 2020 Title slide picture: Simberi SAG Mill. Photo by Anna Mote. 2 / Q1 September FY20 Quarterly Presentation

Contents Highlights Exploration • • Safety Growth • • Operations Conclusion • • Projects Appendices • • Maryse Bélanger (President Americas) and Bob Vassie (Managing Director and CEO) at Touquoy, NS Canada, September 2019. David Cotterell (Manager Investor Relations) and Les Cook (Mine Operations Superintendent) at left rear. 3 / Q1 September FY20 Quarterly Presentation

Highlights Q1 September FY20 • 88 koz 1 at AISC 2 of A$1,421/oz 1 (Q4: 86 koz at A$1,219/oz) Operational • Gwalia total material moved increasing, best in 5 qtrs. performance • Updated guidance issued 18 October • Operational cash contribution 2 of $43 M (Q3: $58 M) Financial • A$503/oz cash contribution 2 metrics • $0.04 per share final dividend paid 25 September • A$112 M debt 3 , A$76 M 4 cash at bank Capital • A$200 million debt facility available, undrawn management • Operating cash flow will fund all anticipated growth projects • Atlantic Gold first contributing quarter Growth • Life-of-mine extension projects or studies at all mines • Exploration success at Gwalia, Simberi and Atlantic 1. On full quarter from Atlantic basis. SBM attributable production was 83 koz at AISC of $1,445/oz 2. Non IFRS measure, refer corresponding slide in Appendix 3. C$100 M debt facility acquired with Atlantic Gold on 19 July 2019 4 / Q1 September FY20 Quarterly Presentation 4. Financial information unaudited. Cash balance comprises $66 M cash, $10 M term deposits, and excludes $2 M restricted cash

Focus on Safety Total Recordable Injury Frequency Rate 1 St Barbara LTIFR 2 in comparison with Western Australian Mining benchmarks 3 5.0 5.0 5.0 1.9 1.9 1.6 2.1 2.1 1.2 FY15 FY16 FY17 FY18 FY19 Q1 St Barbara WA Gold WA Metal FY20 Q1 FY20 • The Total Recordable Injury Frequency Rate (TRIFR, 12 month moving average) at 5.0 at the end of Q1 Sep FY20 • No damage or injuries from Hurricane Dorian in Nova Scotia • Corresponding LTIFR remains below WA Inspecting the safety shower at the Gwalia Mill, May 2018, photo by Jonathon Mountford industry average Safety results for Australian and PNG. Integration of Atlantic Gold safety systems underway. 1. Total Recordable Injury Frequency Rate (12 month avg.), total recordable injuries per million hours worked. 2. LTIFR = Lost Time Injury Frequency Rate (12 month avg.), the number of lost time injuries per million hours worked 5 / Q1 September FY20 Quarterly Presentation 3. Most recent statistics from www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx

Consolidated Q1 September FY20 Results Q1 FY20 Production AISC (A$/oz) • Consolidated 88 koz 2 (Q4: 86 koz) 1600 1,421 1400 1,175 • Gwalia 38 koz (Q4: 50 koz) 1,073 1,053 1200 868 1000 • Simberi 27 koz (Q4: 36 koz) 800 600 • Atlantic 22 koz (Q4: 23 koz) 400 Gold Production (koz) 200 0 126 Q1 FY20 AISC 1 112 109 108 28 23 20 23 88 • Consolidated A$1,421/oz 2 36 22 (Q4: A$1,175/oz) 34 36 36 27 • Gwalia A$1,559/oz (Q4: A$1,230/oz) 63 53 54 50 • Simberi A$1,603/oz (Q4: A$1,203/oz) 38 • Atlantic A$970/oz (Q4: A$1,010/oz) FY19 FY19 FY19 FY19 FY20 Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Gwalia Simberi Atlantic Total Figures displayed to nearest thousand ounces. Reported ounces in associated table. 1. Non IFRS measure, refer corresponding slide in Appendix 2. Atlantic Gold was acquired on 19 July 2019. Atlantic Gold quarterly production prior to this date provided for comparison. Reported Q1 Sep FY20 production and FY20 guidance includes 4,362 ounces produced by 6 / Q1 September FY20 Quarterly Presentation Atlantic Gold prior to acquisition. Consolidated Q1 AISC inc SBM attributable production = A$1,445/oz.

Gwalia Q1 September FY20 Results AISC (A$/oz) 1,559 1,081 1,230 Q1 FY20 Production 1,016 833 FY19 average $1,027/oz • 38,153 oz (Q4: 49,966 oz) • AISC 1 A$1,559/oz (Q4: A$1,230/oz) Mined grade (g/t Au) 12.4 • Mined grade of 7.4 g/t Au 11.7 10.4 10.0 (Q4: 10.0 g/t Au) 7.4 Reserve grade FY19 7.5 g/t Au Reserve grade FY20 2 • Mined lower grade stopes in Q1 as part of 6.4 g/t Au sequence, some dilution (overbreak) in Gold Production (koz) final stope on edge of level 62.7 54.3 53.3 • Total material moved 267 kt, best in five 50.0 quarters, improving mining rate in 38.2 constrained environment • Considering ventilation strategy change in Q2 and Q3, preparing for doubling of ventilation when GEP completed FY19 FY19 FY19 FY19 FY20 Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Reported ounces in Quarterly Report. 1. Non IFRS measure, refer corresponding slide in Appendix 7 / Q1 September FY20 Quarterly Presentation 2. Refer ASX announcement released 21 August 2019 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2019’.

Gwalia production and cost profile AISC (A$/oz) 1,420 2 1,027 841 802 783 785 FY20 guidance • Production of 175 to 190 koz Production (previously 200 to 210 koz) (koz) 268 267 • AISC 1 of A$1,390 to A$1,450/oz 265 248 (previously A$1,230 to A$1,290/oz) 220 190 • Sustaining capex: A$60 to A$65 M 175 (previously A$55 to A$65 M) • Growth capex: A$32 to $38 M (previously A$30 to A$35 M) FY15 FY16 FY17 FY18 FY19 FY20F Guidance revised 18 October 2019. 1. Non IFRS measure, refer corresponding slide in Appendix 8 / Q1 September FY20 Quarterly Presentation 2. Midpoint of FY20 AISC guidance