Presentation on Q4 June FY18 Quarterly Report and audio webcast Bob - - PDF document

ASX Release / 26 July 2018

Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1959 ASX: SBM Media Relations Mr Tim Duncan Hinton & Associates +61 3 9600 1979 ADR: STBMY

St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 T +61 3 8660 1900 F +61 3 8660 1999 ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

Presentation on Q4 June FY18 Quarterly Report and audio webcast

Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q4 June FY18 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Thursday 26 July 2018. 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 www.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.

Q4 June FY18 Quarterly Presentation

BOB VASSIE, MANAGING DIRECTOR & CEO / 26 July 2018 ASX:SBM

Q4 June FY18 Quarterly Presentation 2 /

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 FY18 = quarter to 30 Sep 2017 Q3 Mar FY18 = quarter to 31 Mar 2018 Q2 Dec FY18 = quarter to 31 Dec 2017 Q4 Jun FY18 = quarter to 30 June 2018 Title slide picture: Gwalia plant at sunrise, April 2018. Picture by Sharee Briggs

3 /

Contents

• Highlights
• Safety
• Operations
• Projects
• Exploration
• Growth
• Conclusion
• Appendices

Photo: Simberi waste dump, February 2018, photo by George Danga Jnr.

Q4 June FY18 Quarterly Presentation

4 /

Highlights Q4 June FY18

1. Non IFRS measure, refer corresponding slide in Appendix 2. Financial information unaudited. Balance comprises A$227 M cash, A$116 M term deposits (maturing between July 2018 and January 2019) and A$1 M restricted cash.

Q4 June FY18 Quarterly Presentation

• Record annual production 403 koz (FY17: 381 koz) at

record low AISC1 A$891/oz (FY17: A$907/oz)

• Record quarter production of 119 koz (Q3: 86 koz) at

record low AISC A$812/oz (Q3: A$982/oz)

• Record annual production at both operations
• Debt free, A$344M cash and term deposits2
• Organic growth underway and informed by exploration
• Simberi mine life extension to FY21
• Well positioned for inorganic growth

5 /

Focus on safety Total Recordable Injury Frequency Rate1

4.1 5.0 2.1 1.2 1.2 2.4 2.6 2.1 FY 14 FY15 FY16 FY17 Q1 FY18 Q2 FY18 Q3 FY18 Q4 FY18

• Decrease in TRIFR from 2.6 at the end of Q3

Mar FY18 to 2.1 at the end of Q4 June FY18.

• Plans and strategies implemented to further

reduce the TRIFR rate through FY19.

• Corresponding LTIFR of 0.5 to 30 June 2018

compares with gold mining industry average

• f 2.12

1. Total Recordable Injury Frequency Rate (12 month avg). TRIFR includes Pacific Operations from Sept 2012. 2. Industry Lost Time Injury Frequency Rate (LTIFR) data per the Department of Mines and Petroleum report titled ‘Safety Performance in the Western Australian Mineral Industry’ for FY 2016-2017.

Gwalia ERT Training 2018, photo by Troy Davison

Q4 June FY18 Quarterly Presentation

959 889 910 982 812

AISC (A$/oz)

6 /

Consolidated Q4 FY18 quarter

62 64 63 57 85 32 34 37 29 35 94 98 100 86 119

FY17 Q4 Jun FY18 Q1 Sep FY18 Q2 Dec FY18 Q3 Mar FY18 Q4 Jun Gwalia Simberi

Figures displayed to nearest koz. Reported ounces in Quarterly Report.

Production (koz)

1. Non IFRS measure, refer corresponding slide in Appendix

• Consolidated production of

119 koz (Q3 FY18: 86 koz)

• Gwalia 85 koz (Q3: 57 koz)
• Simberi 35 koz (Q3: 29 koz)
• Consolidated AISC1 of A$812/oz

(Q3: A$982/oz)

• Gwalia A$679/oz

(Q3: A$905/oz)

• Simberi A$1,135/oz

(Q3: A$1,129/oz)

Q4 June FY18 Quarterly Presentation

7 /

Consolidated FY18 results + FY19 guidance

Q4 June FY18 Quarterly Presentation

Record production of 403 koz

• Exceeded FY18 increased

guidance of 375 to 392 koz

AISC record low A$891/oz

• Outperformed FY18 guidance of

A$920 to A$970/oz

FY19 Consolidated Guidance

• Production 350 to 375 koz
• AISC A$1,030/oz to A$1,100/oz
• Sustaining capex A$58 to A$65 M
• Growth capex A$60 to A$64 M

932 907 891 1,065 AISC (A$/oz) 267 265 268 253 110 116 135 110 377 381 403 363 FY16 FY17 FY18 FY19F Gwalia Simberi Total

Figures displayed to nearest thousand ounces. Reported ounces in associated table.

Production (koz)

Guidance mid- points

872 816 859 905 679 AISC (A$/oz)

FY18 average A$802/oz

9.2 10.7 11.2 15.0 13.4 Mined grade

(g/t Au)

FY18 average 12.5 g/t Au

62.1 64.3 62.8 56.7 84.5

FY17 Q4 Jun FY18 Q1 Sep FY18 Q2 Dec FY18 Q3 Mar FY18 Q4 Jun

Production (koz)

Reported ounces in Quarterly Report.

8 /

Gwalia Q4 FY18 results

Q4 Jun FY18 production

• 84,537 oz (Q3 FY18: 56,773 oz)
• AISC1 A$679/oz (Q3: A$905/oz)
• Mined grade of 13.4 g/t Au from

higher grade sections of South West Branch (Q3 FY18: 15.0 g/t Au)

• Mining chevron reset in Q3

allowed production from multiple faces

1. Non IFRS measure, refer corresponding slide in Appendix 2. Refer ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ released 23 August 2017

Q4 June FY18 Quarterly Presentation

Reserve grade 7.8 g/t Au2

9 /

Gwalia production and cost profile

FY18 performance

• Record production 268 koz

(FY17: 265 koz)

• AISC A$802 /oz (FY17: A$785 /oz)

FY19 guidance

• Production of 245 to 260 koz
• AISC1 of A$920 to A$980/oz
• Sustaining capex: A$50 to A$55 M
• Growth capex A$60 to $64 M
• PAF2 underground crushing

expected benefit in 2H

• Vent limitation and GEP2 activities

anticipated to have some impact

• n production

1. Non IFRS measure, refer corresponding slide in Appendix 2. Refers to Paste Aggregate Fill (PAF) and Gwalia Extension Project (GEP)

Q4 June FY18 Quarterly Presentation

214 248 267 265 268 245 260 FY14 FY15 FY16 FY17 FY18 FY19F Production (koz) AISC (A$/oz) 940 841 783 785 802 950

10 /

Simberi Q4 FY18 results Q4 Jun FY18 production

• 34,899 oz (Q3: 29,112 oz)
• AISC1 A$1,135/oz (Q3:

A$1,129/oz), increase in sustaining capital spend in Q4

• Mined grade was 1.30 g/t Au

(Q3: 1.16 g/t Au), with higher grade ore than anticipated

• Exceeded FY18 production

guidance of 125 to 132koz

1. Non IFRS measure, refer corresponding slide in Appendix.

1,125 1,027 994 1,129 1,135 AISC (A$/oz) Production (koz)

FY18 Average $1,068/oz

32.1 34.0 36.7 29.1 34.9

FY 17 Q4 Jun FY 18 Q1 Sep FY 18 Q2 Dec FY 18 Q3 Mar FY 18 Q4 Jun Q4 June FY18 Quarterly Presentation

11 /

Simberi production and cost profile

FY18 performance

• Fourth consecutive record annual

production 135 koz (FY17: 116 koz) and record low AISC A$1,068 /oz (FY17: A$1,187 /oz)

• Improved grade (FY18: 1.25 g/t Au,

FY17: 1.13 g/t Au) and recovery (FY18: 85%, FY17: 82%) FY19 guidance

• Production of 105 to 115 koz
• AISC1 of A$1,275 to A$1,375/oz
• Sustaining capex: A$8 to A$10 M
• Refurbishment of Ropecon and

replacement of older trucks will impact costs and production

1. Non IFRS measure, refer corresponding slide in Appendix.

Q4 June FY18 Quarterly Presentation

44 80 110 116 135 105

115

FY14 FY15 FY16 FY17 FY18 FY19F Production (koz) AISC

(A$/oz)

2,300 1,464 1,293 1,187 1,068 1,325

12 /

Simberi mine life extension to FY21

New Life of mine plan

• Recent work on Simberi’s life of

mine plan has extended oxide mine life to the end of FY21

• Mining continues through

FY19 and FY20

• Low grade stockpiles

accumulated over FY18 to FY20 to be processed in FY21

1. Non IFRS measure, refer corresponding slide in Appendix.

Q4 June FY18 Quarterly Presentation

Simberi Operation showing processing plant stockpile, February 2018, photo Liken Paulias

161 199 216 262 344 38 17 46 82 FY17 Q4 Jun FY18 Q1 Sep FY18 Q2 Dec FY18 Q3 Mar FY18 Q4 Jun Cash balance Column1 Net cash movement

Q1 movement net of: $25 M dividends Q2 movement net of: $31 M tax $12 M investments

13 /

Increasing cash balance

Q4 June FY18 Quarterly Presentation

A$M

Q4 movement net of: $7 M tax $4 M investments

For details refer to cash movements table in ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

Q3 movement net of: $16 M dividends $4 M investments

14 /

Cash generation and usage

Q4 June FY18 Quarterly Presentation

• 25
• 16
• 31
• 2
• 7
• 4
• 11
• 7
• 10
• 1
• 12
• 4
• 4
• 18

(inc. WC -10)

• 8
• 4
• 3

38 17 46 82 86 79 79 105

• 80
• 60
• 40
• 20

20 40 60 80 100 120

FY18 Q1 Sep FY18 Q2 Dec FY18 Q3 Mar FY18 Q4 Jun

Net cash movement for qtr

• Corp. costs & royalties,
• explr. & working cap.

Strategic investments Leonora - growth capital Income tax payments Dividends paid Operational cash contribution Operational cash contribution

A$M

Operational cash contribution is a Non IFRS measure, refer corresponding slide in Appendix. For details refer to cash movements table in ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

construction (completion due Q2 Dec FY20)

Gwalia Extension Project

feasibility study

Gwalia Mass Extraction

drilling

2600 mbs hole

interpretation

3D Targets

Q4 June FY18 Quarterly Presentation 15 /

Key Project Timeline

FY18 FY19 FY19

Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 & beyond

Investment decision Dec 2018

drilling analysis & results drilling

Simberi sulphide PFS

• ngoing drilling and interpretation program (Nov 2016 to 2024)

Simberi JV

Refer Q4 June FY18 Quarterly Report for details

Initial 2 year option period to Nov 2018

16 /

Gwalia Extension Project update

1. Details contained in ASX announcement 27 March 2017 ‘Gwalia Extension Project approved’.

• Project includes new ventilation shafts

and paste aggregate fill (PAF)

• Budget of A$100 million with planned

completion in Q2 December FY201

• FY19F capex of A$55 to A$58 million
• A$10M capex spent in Q4 June FY18
• Raise bore activities progressing to

schedule with second surface shaft pilot hole drilling due for completion late July

• Plan now anticipates some concurrent

raiseboring of vent shafts to allow early completion

• PAF completion now due Q2 Dec FY19

Q4 June FY18 Quarterly Presentation

Above: Isometric view of proposed PAF crushing circuit, notionally at 1420 mbs.

17 /

Gwalia Mass Extraction – PFS (Original)

Q4 June FY18 Quarterly Presentation

For details refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

18 /

Gwalia Mass Extraction – PFS (Alternative)

Q4 June FY18 Quarterly Presentation

For details refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

19 /

Gwalia Mass Extraction PFS – Alternative Flow sheet

Q4 June FY18 Quarterly Presentation

For details refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

20 /

Gwalia Mass Extraction PFS

Gwalia Key Metrics Guidance Outlook FY19F FY20 FY21 FY22 Underground ore mined kt 770 960 1,150 1,400 Mined grade g/t Au 10.5 8.4 7.7 7.0 Gold Production koz 245-260 255 280 300 AISC (inc. Corp allocation2) A$/oz 920-980 AISC (excl Corp. allocation2) A$/oz 950 900 870 Capital expenditure

• Sustaining
• Growth (GEP)

A$M 50-55 55-58 57 1 53 50

• GMX (drilling, PFS, FS and subsequent project)

5-6 50 50

• GEP additional ventilation 1

25 10 Anticipated lowest mining depth in FY mbs 1700 1740 1780 1820

• 1. GEP additional ventilation per ASX release 27 March 2017 “Gwalia Extension Project approved”.

For full details refer to ASX Announcement “Gwalia mine medium and long-term outlook” released 21 February 2018 and Q4 June FY18 Quarterly Report.

• 2. Corp. allocation normally included in AISC as published by St Barbara Ltd (Leonora proportion of Corp.

allocation in FY19F approx. A$20M). Corp. allocation excluded from GMX AISC/oz outlook for transparency.

The above table is based on the GMX PFS (±30%).

Q4 June FY18 Quarterly Presentation

• Gwalia life of mine to FY31 (with hydraulic hoisting)

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Exploration | Gwalia Deeps, Seismic and 2600 mbs targets

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

• GWDD19A has been completed, intersecting four mineralised zones between

2,630-2,690 mbs.

• Results confirm Gwalia ore lodes are continuous to 2,700 mbs.

22 /

Exploration | Summary of greenfields projects

Pinjin, WA

• Completed 313 hole Aircore drill program in Q4 June

FY18, testing six targets: Graham’s Find, Yindi Station, Old Homestead, Mulgabbie and reconnaissance drilling at two new targets.

• A follow up 300 hole lake aircore drilling program

commenced in Q4 June FY18.

Tabar Islands, PNG

• Simberi Island: Shallow drilling for sulphide gold under

Sorowar, first results received. Cu-Au drilling below mining area initial results received, drilling ongoing. Deep drilling for sulphide gold, results pending.

• Newcrest Farm-in activities continued, with a total of

four deep diamond drill holes completed to date at Talik North and Kupo on Tatau Island.

• Diamond drilling at Banesa on Big Tabar Island is

expected to commence in Q1 Sep FY18, subject to access.

Back Creek, NSW

• Aircore drill program consisting of

23 holes testing two targets.

• Drilling to commence in July.

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

23 /

Exploration | Simberi Island, PNG, Q4 June FY18

Q4 June FY18 Quarterly Presentation

One of four sections, remaining sections in appendix. For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

10%

24 /

Growth Pipeline

Feasibility Construction Production Exploration

Australia Overseas

Greater Gwalia Pinjin Back Creek

16%

Catalyst Metals

16%.

Peel Mining

Au

Tabar Is Group

Cu-Au, OFA with NCM1

Tabar Is Group Tower Hill Simberi Sulphide

Inorganic growth

Evaluating exploration, project, development and operating assets in a range of sizes in Australia and overseas

Gwalia Extension Gwalia Mine Simberi Mine

Projects owned 100% St Barbara interest as noted New in Q4

1. Option and Farm-in Agreement with Newcrest announced 14 November 2016 2. Formerly ABM Resources

Q4 June FY18 Quarterly Presentation Prodigy Gold2

12%.

Duketon Mining Gwalia GMX

. .

25 /

Strategy for the next 5 years – “stronger for longer”

Diversify production base

Seeking a portfolio of robust operations

Sustainable long life operations

Aiming for above average mine life at bottom-third AISC

Quality growth pipeline

Actively add, manage and progress assets in all phases of the pipeline

Talented people who deliver

Support & work with our people to continue to achieve extraordinary results

Trusted to operate

Our various stakeholders trust us everywhere we choose to operate

Q4 June FY18 Quarterly Presentation

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Conclusion

• Record annual production

and AISC

• A$344M cash at bank and term

deposits1, no debt

• Organic growth underway:
• Gwalia – GEP, GMX and deep

drilling

• Simberi – life extended, sulphide

gold and copper-gold drilling

• Well positioned for inorganic

growth

1. Financial information unaudited. Balance comprises A$227 M cash, A$116 M term deposits (maturing between July 2018 and January 2019) and A$1 M restricted cash.

Q4 June FY18 Quarterly Presentation

Ore conveyor at Gwalia, November 2017, photo by Scott Thomas

27 /

Appendices

Portal to Hoover Decline at Gwalia – June 2018

Q4 June FY18 Quarterly Presentation

Production Summary Consolidated Year FY17 Q1 Sep FY18 Q2 Dec FY18 Q3 Mar FY18 Q4 Mar FY18 Year FY18 Guidance FY181 Guidance FY19

St Barbara’s financial year is 1 July to 30 June Year to 30 June 2017 Qtr to 30 Sep 2017 Qtr to 31 Dec 2017 Qtr to 31 Mar 2018 Qtr to 30 Jun 2018 Year to 30 June 2018 Year to 30 June 2018 Year to 30 June 2019

Production Gwalia

• z

265,057 64,283 62,835 56,773 84,537 268,429 250 to 260 koz 245 to 260 koz Simberi

• z

116,044 33,976 36,674 29,112 34,899 134,661 125 to 132 koz 105 to 115 koz Consolidated

• z

381,101 98,259 99,509 85,885 119,436 403,089 375 to 392 koz 350 to 375 koz Mined Grade Reserve grade2 Gwalia g/t 10.7 10.7 11.2 15.0 13.4 12.5 7.8 Simberi g/t 1.13 1.21 1.32 1.16 1.30 1.25 1.3 Total Cash Operating Costs3 Gwalia A$/oz 592 621 668 679 530 613 n/a n/a Simberi A$/oz 1,092 964 908 1,036 983 969 n/a n/a Consolidated A$/oz 689 740 757 800 662 732 n/a n/a All-In Sustaining Cost3 Gwalia A$/oz 785 816 859 905 679 802 840 to 880 920 to 980 Simberi A$/oz 1,187 1,027 994 1,129 1,135 1,068 1,070 to 1,130 1,275 to 1,3754 Consolidated A$/oz 907 889 910 982 812 891 920 to 970 1,030 to 1,100

1. FY18 guidance previously amended Q3 March FY18 production update (released 6 April 2018) and in Q2 December 2017 quarterly report (released 23 January 2018). 2. Ore Reserve grade at 30 June 2017, refer Ore Reserve and Mineral Resources Statement (released 23 August 2017). 3. Non-IFRS measure, refer Appendix. 4. US$960 to US$1,030 per ounce @ AUD 0.75.

28 /

Consolidated Production, Costs, Guidance Summary

Q4 June FY18 Quarterly Presentation

29 /

Simberi Strategic Review

Q4 June FY18 Quarterly Presentation

1. Non IFRS measure, refer corresponding slide in Appendix.

• 9
• 4

2 10 12 5 8 9 19 5 24 20 24 23 23 12 FY15 Q1 Sep FY15 Q2 Dec FY15 Q3 Mar FY15 Q4 Jun FY16 Q1 Sep FY16 Q2 Dec FY16 Q3 Mar FY16 Q4 Jun FY17 Q1 Sep FY17 Q2 Dec FY17 Q3 Mar FY17 Q4 Jun FY18 Q1 Sep FY18 Q2 Dec FY18 Q3 Mar FY18 Q4 Jun

Quarterly cash contribution1 from Simberi

Decision to retain

$82 M in FY18 $126 M since decision

• Decision in November 2016 to retain Simberi operating assets was the right one
• Cash contribution1 since the decision to retain the asset is A$126 million

30 /

Gwalia Mass Extraction PFS – narrow lodes mining method

Q4 June FY18 Quarterly Presentation

31 /

Gwalia Deeps 1540 – 1580 lode schematic

Reproduced from ASX release 25 September 2017 ‘Denver Gold Forum 2017’

Q4 June FY18 Quarterly Presentation

32 /

Exploration FY19 Guidance - A$21 to A$27 million A$9 – A$12 million Leonora

• Greater Gwalia Area
• Gwalia Deep Drilling
• Gwalia Seismic

A$4 – A$5 million Pinjin WA

• Aircore drilling of identified targets

A$8 – A$10 million PNG

• Simberi Oxides/Sulphides and

Porphyry

• Tatau Sulphides

Option and farm in with Newcrest

• Drilling copper-gold porphyry

targets

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

33 /

Exploration | Gwalia Seismic

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

Gwalia Seismic Exploration

• Two hole drill program completed in Q4

June FY18 showed shearing and alteration similar to the Gwalia deposit.

• Downhole surveys planned in Q1 Sep

FY19 for future drill targeting.

Q4 June FY18 Quarterly Presentation

34 /

Exploration | Pinjin, Q4 June FY18 results

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

35 /

Exploration | Horsepaddock Well – Leonora province Q4 June FY18 geophysical surveys at Horsepaddock Well completed

• Detailed interpretation of the Induced Polarisation and Sub Audio Magnetics

surveys has been completed, with analysis identifying 24 targets.

• Four targets have been selected for RC drilling in Q1 September FY19.

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

36 /

Exploration | Tabar Island group, PNG, Q4 June FY18

Tabar Islands

• Simberi drilling beneath Sorowar open

pit has identified sulphide mineralisation from the initial 15 reverse circulation (RC) holes.

• A single 808 m deep hole intersected

Cu-Au porphyry style mineralisation at depth below the Pigiput open pit.

• Newcrest Option and Farm-in four

diamond drill holes targeting Cu-Au porphyry mineralisation at Talik North and Kupo completed to date, for 3,251 metres in total.

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

37 /

Exploration | Simberi Island, PNG, Q4 June FY18

Sorowar Pit

Best results include: SORDGC001 – 28m @ 1.37g/t Au from 114m SORDGC002 – 19m @ 4.96g/t Au from 82m SORDGC007 – 20m @ 8.42g/t Au from 60m; and 15m @ 7.08g/t Au from 89m

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

38 /

Exploration | Simberi Island, PNG, Q4 June FY18

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

39 /

Exploration | Simberi Island, PNG, Q4 June FY18

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

40 /

Exploration | Simberi Island, PNG, Q4 June FY18

Q4 June FY18 Quarterly Presentation

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

Simberi Sulphide – potential long life mine extension

41 /

1.4 Moz Sulphide Reserve @ 3.5 g/t Au, 3.2 Moz Sulphide Resource @ 1.8 g/t Au

For full explanation refer to ASX releases ‘Quarterly Report Q3 March FY16’ 18 April 2016 and ‘Simberi Strategic Review Concluded ’ 14 November 2016 Ore Reserves and Mineral Resources Statements 30 June 2017 release 23 August 2017

Simberi Sulphide PFS

Capex US$100 million Annual Production 130,000 ounces over 8 years (1 Moz Sulphides. 80 koz oxide in total) Output Gold concentrate @ 35+ g/t Au from sulphide ores, Gold doré from oxide ores Concentrate payable 90% All-In Sustaining Cost US$930 to US$990 per ounce

• Focused exploration for sulphide ore

underway to improve project economics

• Study to improve project capex via

potential lower cost processing models

• ngoing

Q4 June FY18 Quarterly Presentation

42 /

Hedging Summary at 30 June 2018

Q4 June FY18 Quarterly Presentation

Financial Year Volume

• unces

Price A$/oz Delivery (all monthly instalments) Announced FY 19 100,000 $1,750 July 2018 to June 2019 7 & 19 Feb 2018 and 7 Mar 2018 FY 20 50,000 $1,750 July to December 2019 7 & 19 Feb 2018 and 7 Mar 2018

For full explanation and results refer to ASX release 26 July 2018 ‘Quarterly Report Q4 June FY18’

43 /

Ore Reserves Summary as at 30 June 2017

Notes 1. Ore Reserves are based on a gold price of: Gwalia (AU$1,350/oz), Tower Hill (AU$1,250/oz), Simberi (US$1,200/oz) 2. Cut-off Grades Gwalia (4.0g/t Au), Tower Hill (2.8g/t Au), Simberi Oxide (0.5g/t Au), Simberi Sulphide (1.1g/t Au) 3. Mineral Resources are reported inclusive of Ore Reserves. 4. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding. 5. Details relating to each of the estimates are contained in the 2017 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/ Full details are contained in the ASX release dated 23 August 2017 ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ available at www.stbarbara.com.au.

Project Proved Probable Total Tonnes ('000) Gold (g/t) Ounces ('000) Tonnes ('000) Gold (g/t) Ounces ('000) Tonnes ('000) Gold (g/t) Ounces ('000) Gwalia, (WA) 2,308 9.8 725 6,248 7.0 1,408 8,556 7.8 2,133 Tower Hill, (WA)

• 2,572

3.7 306 2,572 3.7 306 Simberi Oxide, (PNG) 3,294 1.4 153 7,613 1.3 319 10,907 1.3 472 Simberi Sulphide, (PNG) 245 3.2 25 12,291 3.5 1,307 12,537 3.5 1,402 Total All Projects 5,847 4.8 903 28,724 3.6 3,340 34,572 3.9 4,312

Q4 June FY18 Quarterly Presentation

44 /

Mineral Resources Summary as at 30 June 2017

Notes 1. Mineral Resources are reported inclusive of Ore Reserves 2. Cut-off Grades Gwalia (2.5g/t Au), Tower Hill (2.5g/t Au), Simberi Oxide (0.4g/t Au), Simberi Sulphide (0.6g/t Au) 3. Simberi Mineral Resources are reported constrained by a US$1,800/oz pit shell 4. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding. 5. Details relating to each of the estimates are contained in the 2017 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/ Full details are contained in the ASX release dated 23 August 2017 ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ available at www.stbarbara.com.au.

Project Measured Indicated Inferred Total Tonnes ('000) Gold (g/t) Ounces ('000) Tonnes ('000) Gold (g/t) Ounces ('000) Tonnes ('000) Gold (g/t) Ounces ('000) Tonnes ('000) Gold (g/t) Ounces ('000) Gwalia, (WA) 5,045 7.8 1,265 14,877 6.4 3,042 3,831 6.3 780 23,753 6.7 5,087 Tower Hill, (WA)

• 4,604

3.9 574 489 3.3 51 5,093 3.8 625 Simberi Oxide, (PNG) 4,056 1.3 164 12,313 1.1 427 4,919 1.0 152 21,288 1.1 744 Simberi Sulphide, (PNG) 836 1.7 45 41,005 1.9 2,471 12,676 1.6 663 54,517 1.8 3,179 Total All Projects 9,937 4.6 1,474 72,799 2.8 6,514 21,915 2.3 1,646 104,651 2.9 9,635 Q4 June FY18 Quarterly Presentation

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Competent Persons Statement

Exploration Results The information in this presentation that relates to Exploration Results for Simberi and Pinjin is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Mustard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this presentation that relates to Exploration Results for Gwalia and the Leonora region is based on information compiled by Mr Robert Love, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Love is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Love consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Mineral Resource and Ore Reserve Estimates The information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the report titled ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ released to the Australian Securities Exchange (ASX) on 23 August 2017 and available to view at www.stbarbara.com.au and for which Competent Persons’ consents were obtained. Each Competent Person’s consent remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 23 August 2017 and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the

• riginal ASX announcement.

Full details are contained in the ASX release dated 23 August 2017 ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ available at www.stbarbara.com.au.

Q4 June FY18 Quarterly Presentation

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Non-IFRS Measures and recent announcements

We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. Cash operating costs

• Calculated according to common mining industry practice using The Gold Institute (USA)

Production Cost Standard (1999 revision). Refer most recent quarterly report available at www.stbarbara.com.au for example All-In Sustaining Cost

• All-In Sustaining Cost is based on Cash Operating Costs, and adds items relevant to sustaining
• production. It includes some, but not all, of the components identified in World Gold Council’s

Guidance Note on Non-GAAP Metrics - All-In Sustaining Costs and All-In Costs (June 2013). Refer most recent quarterly report available at www.stbarbara.com.au for example Cash contribution

• Refer cash movements table in Finance section of corresponding Quarterly Report. It is the

sum of ‘operating cash flow’ from individual operations, net of sustaining capital expenditure.

• Refer most recent quarterly report available at www.stbarbara.com.au for example

Q4 June FY18 Quarterly Presentation

Scheduled ASX Announcements 22 August 2018 Annual Financial Report 22 August 2018 Reserves and Resources Statements

Q4 June FY18 Quarterly Presentation

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Investor Relations Enquiries

Rowan Cole Company Secretary David Cotterell Manager Investor Relations T: +61 3 8660 1900 E: info@stbarbara.com.au

St Barbara Board and executive June 2016 at Simberi. L to R: Garth Campbell-Cowan (CFO), David Moroney (Non-Executive Director), Bob Vassie (MD&CEO), Tim Richards (GM Simberi), Kerry Gleeson (Non-Executive Director), Wayne Schiller (Simberi Ops Manager) and Tim Netscher (Non-Executive Chairman) Gwalia Board visit November 2017, Underground, L to R: Ashleigh Smyth - Graduate Geologist, Kerry Gleeson – Director, Tim Netscher – Chairman, David Moroney – Director, Bob Vassie - MD&CEO, Andrew Walker - Underground Manager