Presentation to Diggers and Dealers Mining Forum Attached is a - - PDF document

ASX Release / 5 August 2019

Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1900 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 ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

Presentation to Diggers and Dealers Mining Forum

Attached is a presentation by Bob Vassie, Managing Director and CEO, to the Diggers and Dealers Mining Forum in Kalgoorlie, Western Australia.

Diggers & Dealers Mining Forum

BOB VASSIE, MANAGING DIRECTOR & CEO / 5-7 August 2019

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 the 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

• r 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. Australian Securities Exchange (ASX) Listing code “SBM” American Depositary Receipts (ADR OTC code “STBMY”) through BNY Mellon, www.adrbnymellon.com/dr_profile.jsp?cusip=852278100 Title slide picture: Gwalia operations at dusk, June 2018 Published 5 August 2019 Diggers & Dealers Mining Forum – 5-7 August 2019

Diggers & Dealers Mining Forum – 5-7 August 2019 3 /

Contents

• Overview
• Highlights
• Safety
• Operations & Growth
• Exploration
• Strategy
• Conclusion

Gwalia mine - June 2018

Environmental survey, Leonora.

Diggers & Dealers Mining Forum – 5-7 August 2019 4 /

Corporate Overview

• 1. As at close 2 Aug 2019 2. 3 months to 2 Aug 2019, Deutsche Bank 3. Basic EPS for H1 FY19 4. As at 30 Jun 2019. Cash balance comprises $213 M cash, $678 M term deposits and

excludes A$2 M restricted cash, net of $780 M Atlantic consideration paid in July 2019 5. Refer corresponding Ore Reserves and Mineral Resources slides in Appendix, Leonora and Simberi as at 30 June 2018, Atlantic Gold as at 13 March 2019 6. Non IFRS measure, refer corresponding slide in Appendix 7. FY20F guidance released 24 July 2019 ‘Quarterly Report Q4 June FY19’ 8. Atlantic Gold production attributable to St Barbara from 19 July 2019. C$100M debt facility acquired with Atlantic Gold on 19 July 2019

ASX 200 (ASX: SBM; ADR: STBMY), est. 1969

Commodity Gold (Au) Market Cap1 A$2.5B @ A$3.65/sh Shares1 696 M Liquidity2 8.4 M/day (1.2%) 1H FY19 EPS3 A$0.16 1H FY19 Dividend A$0.04 Cash and cash deposits4 A$111 M Debt8 A$112 M (C$100 M) Ore Reserves (JORC) 5 5.8 Moz (3.9 Moz + 1.9 Moz) Mineral Resources 5 11.5 Moz (9.2 Moz + 2.3 Moz) FY19A FY20F7 Consolidated 362 koz @ AISC6 A$1,080/oz 310 to 335 koz @ AISC A$1,250 to A$1,350/oz (+Atlantic TBA) Gwalia 220 koz @ AISC A$1,027/oz 200 to 210 koz @ AISC A$1,230 to A$1,290/oz Simberi 142 koz @ AISC A$1,162/oz 110 to 125 koz @ AISC A$1,285 to A$1,450/oz Atlantic Gold8 93 koz @ AISC A$787/oz (YTD Q3 FY19) Due to be released in Q1 September FY20 quarterly report

Diggers & Dealers Mining Forum – 5-7 August 2019 5 /

Strong margins, well funded, growth pipeline established

• FY19 production 362 koz @ AISC1 of A$1,080/oz
• Simberi record production and cash flow for FY19
• Continued successful Gwalia deep drilling and exploration

Operational excellence

• FY19 operational cash contribution2 of $284 M (FY18: $349 M)
• A$771/oz cash contribution2
• Simberi generated $98 M cash contribution2 in FY19 (FY18 $82 M)

Financial performance

• A$111 M cash at bank (net of A$780 M Atlantic Gold consideration)3
• Operating cash flow will fund all anticipated growth projects
• A$200 million debt facility available, undrawn

Capital management

• Atlantic Gold acquisition completed 19 July 2019
• Life-of-mine extension projects or studies at all mines
• Broad range of exploration projects, inc. equity investments

Growth

1. Non IFRS measure, refer corresponding slide in Appendix 2. Cash contribution is a non-IFRS measure, refer to corresponding slide in Appendix. FY19 cash contribution ÷ FY19 ounces

• f gold sold refer page 16 of the ‘Quarterly Report Q4 June FY19’ and previous FY19 quarterly reports

3. Financial information unaudited. Cash balance comprises $213 M cash, $678 M term deposits, and excludes $2 M restricted cash, net of $780 M Atlantic consideration paid in July 2019

Diggers & Dealers Mining Forum – 5-7 August 2019 6 /

St Barbara Safety Focus

Total Recordable Injury Frequency Rate1

5.0 2.1 1.2 2.1 2.8 2.9 4.1 5.0

FY15 FY16 FY17 FY18 FY19 Q1 Sep FY19 Q2 Dec FY19 Q3 Mar FY19 Q4 Jun

• The Total Recordable Injury Frequency Rate (TRIFR, 12 month moving average) at 5.0 at the end of Q4 June FY19
• Deterioration is being vigorously addressed with focus on HS culture and maturity, personal accountability and safety

mindset.

• Corresponding LTIFR remains well below WA industry average

1.1 1.9 2.2 2.9 St Barbara Q4 FY19 WA Gold WA Metal, Surface WA Metal, Underground

St Barbara LTIFR2 in comparison with Western Australian Mining benchmarks3

• 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
• 3. Most recent statistics from www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx

WA Gold: Safety performance in the Western Australian mineral industry 2017-18 - poster Surface & Underground: Safety performance in the Western Australian mineral industry 2016-2017 - report

Atlantic Gold acquisition completed 19 July 2019

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Touquoy pit lookout, Atlantic Gold Operations.

Atlantic Gold, transformational acquisition, consistent with Strategy

Diversify production base Sustainable long life

• perations

Quality growth pipeline Talented people who deliver Trusted to operate

    

• Substantial, low cost production from an established mining

jurisdiction

• CY19 forecast production of 92 – 98 koz at an AISC of C$695 –

755/oz (A$740 – 803/oz)1, with pathway to 200+ kozpa

• Atlantic has meaningful reserves with mine life of 12years2
• High cash margins driven by an industry low all-in sustaining cost

(AISC) position

• Significant growth potential through planned reserve / resource

expansion (Phase 3) and regional drilling (Phase 4) programs

• Establishes a platform for future growth in North America
• St Barbara has retained the existing operating team and key

Atlantic executives for the transitional period

• Atlantic's operational team has a track record of project delivery
• St Barbara and Atlantic are trusted operators in their jurisdictions
• Respective operational teams will be able to leverage each
• ther's capabilities and specialisations

8 / Diggers & Dealers Mining Forum – 5-7 August 2019

1. Forward looking statements and offer consideration as per spot rate on 10 May 2019 (FactSet) for CADAUD = 1.0642 and AUDUSD = 0.7200 2. Based on production schedule reported in 25 March 2019 ‘Updated MRC Production Schedule’ Atlantic news release For full details refer to release 15 May 2019 ‘Acquisition of Atlantic Gold Corporation and Equity Raising’

9 / Diggers & Dealers Mining Forum – 5-7 August 2019

 Acquired a great team of talented people who deliver  Atlantic Gold is a high quality producing asset in an established mining jurisdiction  Current operation consists of one open pit, with planned expansion of three additional pits increasing production to 200+ koz p.a. (targeting CY23 onwards)  Low AISC position, driving strong cash flow generation  Low life of mine (LOM) strip ratio of 2.9:1  Demonstrated track record in resource expansion  Strong exploration potential with tenements along strike of the host structure  One hour from Halifax (provincial capital), a 400,000+ population and significant industrial centre

Key statistics CY18 production 91 koz CY19 production guidance 92 – 98 koz Reserves1 1.9 Moz Resources1 2.4 Moz Current mine life 12 years CY18 AISC C$731 (A$761/oz) CY19 AISC guidance C$695 – 755/oz (A$740 – 803/oz)

Acquisition of Atlantic Gold adds a low cost operation with expansion pipeline and exploration potential

Note: Spot CADAUD as at 31 December 2018 = 1.0395. CADAUD average CY18 = 1.0405. AUDUSD average CY18 = 0.7477 (FactSet). Forward looking statements and offer consideration as per spot rate on 10 May 2019 (FactSet) for CADAUD = 1.0642 and AUDUSD = 0.7200 1. Refer to Appendices for Atlantic reserves and resources position and competent persons statements.

97 103 91 174 231 254 234 195 161 103 59 32 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Touquoy Beaver Dam Fifteen Mile Stream Cochrane Hill

Atlantic Gold Production Profile (Phases 1 and 2)

 Processing plant commissioned in October 2017  Completed development of Touquoy pit. Commercial production declared in March 2018  Production of 91 koz in CY18  CY19 production guidance of 92 – 98 koz at an AISC of C$695 – 755/oz (A$740 – 803/oz)1  Beaver Dam ore will be trucked to Touquoy processing plant once Touquoy reserves are mined (expected to be from CY22 onwards)  Integration of satellite deposits (Fifteen Mile Stream and Cochrane Hill pits) planned to increase gold production to 200+ koz annually (CY23 onwards)  Provides 12 year mine life based on current reserves2  Currently proposed to construct a 2.0 Mtpa concentrator at each pit (gold concentrate to be processed at Touquoy)

Phase 1: Touquoy and Beaver Dam Phase 2: Fifteen Mile Stream and Cochrane Hill

Corridor Regional Program Resource Expansion Drilling (Cochrane Hill, 149 Deposit)

Moose River LOM production schedule (Phases 1 and 2)2 (koz)

1. FX conversion of forward looking statements per spot rate on 10 May 2019 (FactSet) for CADAUD = 1.0642 and AUDUSD = 0.7200 2. Based on production schedule reported in 25 March 2019 "Updated MRC Production Schedule" Atlantic news release

Central processing facility Touquoy pit

Diggers & Dealers Mining Forum – 5-7 August 2019 10 /

• 1. Atlantic holds a 63.1% beneficial interest in Touquoy. Atlantic owns 60% of Touquoy and 7.9% of Moose River Resources Inc. (MRRI) that has a 40% carried interest in Touquoy. Atlantic has the option to purchase MRRI's 36.9% beneficial

interest at fair market value after the later of (i) 18 months following commercial production or (ii) 3 Mt ore processed. Atlantic can recoup capital expenditures relating to the development of the mine and related assets before it begins making payments to MRRI with respect to the carried interest.

• 2. As per mining profile expected production of 2.9 koz from Fifteen Mile Stream in 2021, 2022 is first full year of production

Diggers & Dealers Mining Forum – 5-7 August 2019 11 /

Atlantic Gold Timeline and Expansion Plan

CY19 CY20 CY21 CY22 CY23

Production currently planned from 2022 Producing

Touquoy (63.5%)1 Beaver Dam (100%)

(37km from Touquoy)

Environmental application and construction

Fifteen Mile Stream (100%)

(57km from Touquoy)

Cochrane Hill (100%)

(80km from Touquoy)

Environmental application and construction Production currently planned from 2022 Production currently planned from late 20212 Production currently planned from 2023 (Commercial production declared in March 2018) Environmental application and construction

• Scope to expand production beyond existing 12 year

reserve life1

• Expansion potential across all pits, with focus in CY19
• n continued infill drilling of inferred resource at

Touquoy and establishing a mineral resource at 149 Deposit

• Expanded reserves by 401 koz (27%) in March 20191
• Announced M&I resource increases in March 20192

 Touquoy: 445 koz (+17%)  Fifteen Mile: 676 koz (+47%)  Cochrane Hill: 607 koz (+ 50%)

• Ongoing drill program intended to expand resource

base and to convert to reserves

Atlantic Gold Reserve and Resource Development (Phase 3)

Diggers & Dealers Mining Forum – 5-7 August 2019 12 /

• 1. Based on production schedule reported in 25 March 2019 "Updated MRC Production Schedule" Atlantic news release
• 2. As reported in 13 March 2019 in "Mineral Resources Update for Touquoy, FMS and Cochrane Hill" Atlantic news release

Atlantic Gold Near Mine Exploration (Phase 4)

• Program to systematically undertake up to

100,000 m of drilling along the 45+ km un-tested host structure around Atlantic Gold processing facility in prospective geological setting

• Cochrane Hill has demonstrated robust

mineralisation to the east and at depth

• New high grade zone identified through

drilling of easterly plunging shoots

• 149 Deposit was discovered in June 2018 as

part of near mine exploration

• Limited drilling has occurred to date. Plans to

increase focus on exploration across extensive tenement holding

Non operating gold deposits Existing operations

1. East west trending Cobequid-Chedabucto Fault system

1

Diggers & Dealers Mining Forum – 5-7 August 2019 13 /

14 /

Gwalia

Diggers & Dealers Mining Forum – 5-7 August 2019

Portal, Hoover Decline, Gwalia.

83 109 131 185 183 214 248 267 265 268 220 200 210 940 841 783 785 802 1027 1260

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20F

6.9 5.7 6.3 8.8 8.2 8.4 8.9 9.3 10.7 12.5 11.1

Mined Grade (g/t Au)

Reserve Grade 7.5 g/t Au June 2018 Diggers & Dealers Mining Forum – 5-7 August 2019 15 /

Gwalia production year on year

FY20F AISC is midpoint of guidance, released 24 July 2019 in ‘Q4 June FY19 Quarterly Report’. AISC is a non IFRS measure, refer corresponding slide in Appendix. June 2018 Reserve grade 7.5 g/t Au, refer ASX announcement released 27 August 2018 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2018’.

Production (koz) Gwalia – Absorption Chiller Plant AISC (A$/oz)

Loader underground at Gwalia.

16 / Animation of Gwalia underground mine available at https://youtu.be/D3uo4FKCi2I

Gwalia animation

Diggers & Dealers Mining Forum – 5-7 August 2019

Diggers & Dealers Mining Forum – 5-7 August 2019 17 /

Gwalia | Total material moved

GEP to liberate trucking capacity

• Excavation of the approx. 11 m high x 10 m

wide chambers at 1,420 and 1,460 mbs for the PAF circuit commenced in Q1 Sep FY17

• Raise-boring of the four 5-metre diameter

vent shafts commenced in Q3 Mar FY18

• The vent shafts total 2,800 m in length and

represent a volume of ~44,000 m3

• Trucking and ventilation capacity is

liberated when raise boring is complete and PAF is commissioned

201 164 158 146 156 41 69 82 78 106 26 19 20 32 267 252 260 256 262

FY18 Q4 Jun FY19 Q1 Sep FY19 Q2 Dec FY19 Q3 Mar FY19 Q4 Jun

Gwalia total material moved (kt)

Ore mined Development waste Raisebore waste Total material moved

GEP = Gwalia Extension Project PAF = Paste Aggregate Fill

18 /

Exploration | Gwalia Deeps

Diggers & Dealers Mining Forum – 5-7 August 2019

• 1. For full explanation and results refer to results table in ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Gwalia Deep Drilling

• Daughter holes GWDD16K, GWDD16L and

GWDD16M intersected the mine sequence at 2,000 - 2,100 mbs

• Parent hole GWDD23 and daughter holes

GWDD23A, GWDD23B and GWDD23C targeted the orebody at 2,100 - 2,200 mbs

• Significant results include1:
• 14.5 m at 5.7 g/t Au

from 2,084 mbs (GWDD16M)

• 24.2 m at 6.5 g/t Au

from 2,242 mbs (GWDD23C)

• Extensive mineralised alteration and quartz

veining encountered in GWDD23C has provided new information on the direction and thickening

• f the lode system

Exploration | Seismic Targets

Diggers & Dealers Mining Forum – 5-7 August 2019 19 /

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Exploration | Regional Targets

Diggers & Dealers Mining Forum – 5-7 August 2019 20 /

All intercepts this page down-hole, for full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Jessie Alma

• Recent RC drilling returned significant results:
• 6.0 m @ 8.6 g/t Au from 283 m (JARC004)
• 1.0 m @ 6.3 g/t Au from 230 m (JARC006)
• 4.0 m @ 4.3 g/t Au from 165 m (JARC016)

Horse Paddock Well

• Recent RC drilling returned significant results:
• 4.0 m @ 9.8 g/t Au from 68 m (HWRC0008)
• 2.0 m @ 11.4 g/t Au from 67 m (HWRC0014)

21 /

Simberi

Diggers & Dealers Mining Forum – 5-7 August 2019 Simberi truck fleet, 2019.

22 /

Simberi production year on year

Diggers & Dealers Mining Forum – 5-7 August 2019

• Fifth consecutive record annual production

142 koz (FY18: 135 koz)

• Benefitted from improved grade and record

recovery of 87% (FY19: 85%)

• Sulphide drilling beneath Sorowar open pit

continues to identify sulphide and oxide mineralisation

• Close spaced drilling (30 m x 30 m) due to

finish in Q1 September FY20

80 110 116 135 142 110 125 FY15 FY16 FY17 FY18 FY19 FY20F AISC1

(A$/oz)

1,464 1,293 1,187 1,068 1,162 1,3682

1. Non IFRS measure, refer corresponding slide in Appendix 2. FY20F AISC is midpoint of guidance, released 24 July 2019 in Q4 June 2019 Quarterly Report Derived from US$900 to US$1,015 per oz @ AUD 0.70

1.23 1.26 1.13 1.25 1.43

Mined Grade (g/t Au)

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Simberi – Continues to deliver

Diggers & Dealers Mining Forum – 5-7 August 2019

• 9
• 4

2 10 12 5 8 9 19 5 24 20 24 23 23 12 34 23 20 21

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 FY19 Q1 Sep FY19 Q2 Dec FY19 Q3 Mar FY19 Q4 Jun

Quarterly cash contribution from Simberi

Decision to retain

Average since Q3 FY17 = $22 M

FY15 FY16 FY18 FY19

• Cash contribution1 since the November 2016 decision to retain the asset is A$224 million
• Operation has continued to set new records

1. Non-IFRS measures, refer Appendix for details

$224 M A$M

FY17

24 /

Exploration | Simberi Island, PNG

Diggers & Dealers Mining Forum – 5-7 August 2019

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’.

Diggers & Dealers Mining Forum – 5-7 August 2019 25 /

Exploration | FY20 Guidance - A$20 to A$28 million

A$7 – A$9 million Leonora

• Greater Gwalia Area
• Gwalia Deep Drilling

A$5 – A$7 million Pinjin, Lake Wells and Back Creek

• Geophysics/aircore drilling of identified targets

A$8 – A$12 million PNG

• Simberi Oxides/Sulphides and Porphyry

Atlantic Gold

• FY20 guidance to be provided in

Q1 September FY20 Report

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Simberi Island Group (PNG) Pinjin, Western Australia

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Leonora, Western Australia

Exploration activities

26 / Diggers & Dealers Mining Forum – 5-7 August 2019

27 /

Gender Diversity

Diggers & Dealers Mining Forum – 5-7 August 2019

• WGEA Employer Of Choice For Gender Equality since 2014 and the only

mining company to be currently certified

• 2018 Winner of AMMA’s Australian Women in Resources Alliance Award
• Representation of women on the board at 33%1
• Representation of women in leadership roles at 29%2
• Overall pay equity gap reduced from 43% in 2007 to 12% in June 2019
• Nil gender pay gap in ‘like-for-like’ roles3
• Bob Vassie, MD & CEO:
• Appointed in 2014 as one of the first WGEA Pay Equity Ambassadors
• Member of AusIMM Council for Diversity and Inclusion

1. Compared to 25.8% nationally, WGEA Australia’s gender equality scorecard Nov 2018 https://www.wgea.gov.au/sites/default/files/documents/WGEA_2017-18%20Gender%20Equality%20Scorecard.pdf 2. Compared to 17.2% for the mining industry, WGEA Australia’s gender equality scorecard Nov 2018 https://www.wgea.gov.au/sites/default/files/documents/WGEA_2017-18%20Gender%20Equality%20Scorecard.pdf 3. Refer St Barbara Corporate Governance Statement for details, stbarbara.com.au/about_us/governance

Council for Diversity and Inclusion

Diggers & Dealers Mining Forum – 5-7 August 2019 28 /

Community

Leonora sponsorships

• Netball WA sponsorship with Gold Industry Group.
• Shooting Stars. Uses netball as a vehicle to encourage greater engagement and

attendance at school of young indigenous girls.

• Clontarf Foundation. Uses football as a vehicle to improve the education, life skills,

self-esteem and employment prospects of young indigenous men.

• Goldfields Girl. Program to assist Aboriginal women aged 16 to 25 to embrace their

culture, build confidence, employment and life skills.

• Indigenous Hip Hop Project at Leonora District High School.

Simberi initiatives

• The Fred Hollows Foundation. Works toward eliminating avoidable blindness.
• New Ireland Province Malaria Alliance
• Australian Doctors International. Deploys volunteer Australian doctors to PNG to

treat and train in rural and remote areas.

• Local community support, including:
• Road and water infrastructure
• Medical and education support
• Sustainable business development initiatives

Olivia Lewis, West Coast Fever player visits Leonora Shooting Stars, June 2019. Image supplied by Shooting Stars. Goldfields Girl, April 2019. Image supplied by ABC Goldfields Esperance.

Diggers & Dealers Mining Forum – 5-7 August 2019 29 /

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 and work with our people to continue to achieve extraordinary results

Trusted to operate

Our various stakeholders trust us everywhere we choose to operate

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Conclusion

Diggers & Dealers Mining Forum – 5-7 August 2019

Gwalia processing plant - June 2018 1. Financial information unaudited. Balance comprises A$213 M cash, A$678 M term deposits and excludes A$2 M restricted cash, net of $780 M Atlantic consideration paid in July 2019. In addition to undrawn A$200 M debt facility, A$112 M (C$100M) debt facility acquired with Atlantic Gold on 19 July 2019 New Atlantic Gold flag, Atlantic Gold Operations, Nova Scotia.

• Completed Atlantic Gold acquisition, adding a

low cost, high margin operation with growth pipeline and exploration potential

• Current operations continue to perform well
• Significant drilling results at Gwalia Deeps and

regionally

• Continued positive Simberi Sulphide drilling

results

• A$111 M cash and term deposits (net of A$780

M consideration for Atlantic Gold acquisition in July), and an undrawn A$200 M debt facility1

31 /

Questions?

Diggers & Dealers Mining Forum – 5-7 August 2019

Gwalia, June 2018

Diggers & Dealers Mining Forum – 5-7 August 2019 32 /

Appendices

Leonora Operations, June 2018

Diggers & Dealers Mining Forum – 5-7 August 2019 33 /

Consolidated Production, Costs, Guidance Summary

Production Summary Consolidated Year FY18 Q1 Sep FY19 Q2 Dec FY19 Q3 Mar FY19 Q4 Jun FY19 Year FY19 Guidance FY191 Guidance FY20

St Barbara’s financial year is 1 July to 30 June Year to 30 June 2018 Qtr to 30 Sep 2018 Qtr to 31 Dec 2018 Qtr to 31 Mar 2019 9 months to 31 Mar 2019 Year to 30 June 2019 Year to 30 June 2019 Year to 30 June 2020

Production Gwalia

• z

268,428 62,685 53,257 54,261 49,966 220,169 220 koz 200 to 210 koz Simberi

• z

134,661 35,862 35,987 34,097 36,231 142,177 140 koz 110 to 125 koz Consolidated

• z

403,089 98,547 89,244 88,358 86,197 362,346 360 koz 310 to 335 koz Mined Grade Reserve grade2 Gwalia g/t 12.5 12.4 10.4 11.7 10.0 11.1 7.5 Simberi g/t 1.25 1.29 1.55 1.46 1.48 1.43 1.3 Total Cash Operating Costs3 Gwalia A$/oz 613 665 806 713 821 746 n/a n/a Simberi A$/oz 969 952 1,027 1,066 1,021 1,016 n/a n/a Consolidated A$/oz 732 769 895 849 905 852 n/a n/a All-In Sustaining Cost3 Gwalia A$/oz 802 833 1,081 1,016 1,230 1,027 980 to 1,000 1,230 to 1,290 Simberi A$/oz 1,068 1,068 1,146 1,229 1,203 1,162 1,245 to 1,3004 1,285 to 1,4505 Consolidated A$/oz 891 919 1,108 1,098 1,219 1,080 1,075 to 1,100 1,250 to 1,350

1. Amended FY19 guidance released 17 June 2019 in ‘Atlantic Gold acquisition and St Barbara operations update’. 2. Ore Reserve grade at 30 June 2018, refer Ore Reserve and Mineral Resources Statement (released 27 August 2018). 3. Non-IFRS measure, refer Appendix. 4. US$895 to US$935 per ounce @ AUD 0.72 5. US$900 to US$1,015 per ounce @ AUD 0.70

• 347
• 226
• 1
• 200 limit

77 137 161 343 411

• 400
• 200

200 400 600 800 1000

FY15 FY16 FY17 FY18 FY19

A$M

Debt Cash Entitlement Offer (net receipts)

891

Undrawn debt facility A$780 M purchase price for Atlantic Gold (net balance $111 M)

480

Separate A$112 M (C$100 M) debt facility acquired with Atlantic Gold on 19 July 2019

Diggers & Dealers Mining Forum – 5-7 August 2019 34 /

Balance Sheet

Cash balance at 30 June 2019 of A$891M

Financial information unaudited. As at 30 June 2019, with A$780 M applied to settlement of Atlantic acquisition in July. Cash balance excludes restricted cash and $200 M undrawn three year syndicated revolving debt facility. For details refer to cash movements table in ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

35 /

Gwalia Extension Project update – on schedule

Diggers & Dealers Mining Forum – 5-7 August 2019

1. PAF involves mixing paste from surface with waste crushed underground to fill stope cavities. 2. Project announced 27 March 2017 ‘Gwalia Extension Project approved’.

• Gwalia Extension Project (GEP) consists of two main

components: a ventilation upgrade and paste aggregate fill (PAF)1

• Budget of A$112 million with planned completion in

Q3 March FY202

• A$100 million spent on project to date
• PAF crushing circuit on 1420 level is complete and

commissioning has commenced

• Mechanical installation of equipment on 1460 level largely

complete and electrical installation well progressed

• Dry commissioning of sections of 1460 PAF circuit

commenced in July. PAF completion expected Q1 Sep FY20

• Final underground raisebore commenced in July
• High voltage power cable drop to 1460 level is complete

PAF chamber, 1420 mbs, March 2019

36 /

Gwalia Deeps 1540 – 1580 lode schematic

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

Diggers & Dealers Mining Forum – 5-7 August 2019

Diggers & Dealers Mining Forum – 5-7 August 2019 37 /

Mine Life

2030 2021 2020 2018 2031 2024 2024 2015 2020 2025 2030 FY19 Atlantic Gold FY18 FY17 FY16 Simberi (oxide) FY18 FY17 FY16 Gwalia

Life of Mine

Mine life as published in relevant Annual Report, based on corresponding Ore Reserves and Mineral Resources Statements Note: Atlantic Gold mine life based on production schedule reported in 25 March 2019 “Updated MRC Production Schedule” Atlantic news release.

Diggers & Dealers Mining Forum – 5-7 August 2019 38 /

Growth Pipeline

Atlantic Gold

(Regional)

Tabar Island Group (Au) Tabar Island Group

(Cu-Au, OFA with NCM)

Atlantic Gold

(Beaver Dam)

Back Creek Atlantic Gold

(Cochrane Hill)

Peel Mining

(18%)

Greater Gwalia Atlantic Gold

(Fifteen Mile Stream)

Catalyst Metals

(14%)

Pinjin Simberi Sulphide Atlantic Gold

(Touquoy Mine)

Duketon Mining

(12%)

Aust Potash

(Au, EJV)

Gwalia GMX Simberi Mine Prodigy Gold

(10%)

Horn Island

(Au, EJV with AQX)

Tower Hill Gwalia Extension Gwalia Mine Equity Investments Exploration Feasibility Construction Producing

KEY Canada Papua New Guinea Australia Equity Investments

Producing

1. Option and Farm-in Agreement with Newcrest announced 14 November 2016 2. Earn-in and Joint Venture Agreement with Australian Potash announced 8 October 2018 3. Earn-in and Joint Venture Agreement in Horn Island with Alice Queen announced 5 June 2019. 4. Atlantic holds a 63.1% beneficial interest in Touquoy. Atlantic owns 60% of Touquoy and 7.9% of Moose River Resources Inc. (MRRI) that has a 40% carried interest in Touquoy. Atlantic has the option to purchase MRRI's 36.9% beneficial interest at fair market value after the later of (i) 18 months following commercial production or (ii) 3 Mt ore processed. Atlantic can recoup capital expenditures relating to the development of the mine and related assets before it begins making payments to MRRI with respect to the carried interest.

39 /

Exploration | Simberi Island, PNG

Sorowar Pit Drilling results continue to be positive, indicating significant additional sulphide and

• xide mineralisation is present

Best intersections include (all results downhole): 185SRDH008:

• 16 m at 2.25 g/t Au from 210 m

150SRDH031:

• 17 m at 3.66 g/t Au from 49 m

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Diggers & Dealers Mining Forum – 5-7 August 2019

40 /

Exploration | Simberi Island, PNG

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Diggers & Dealers Mining Forum – 5-7 August 2019

Diggers & Dealers Mining Forum – 5-7 August 2019

Simberi Sulphide – potential long life mine extension

41 / 41 /

Samat, 134 koz Botlu,… Pigi…

Pigiput, 1,003 koz

Sorowar, 78 koz

Modelled ultimate pit shells1 with associated sulphide reserves

• Focused exploration for sulphide
• re underway to improve

project economics

• Sorowar not drilled at depth

previously

• Sorowar drill results to date

indicate high grade sulphide gold present3

1.4 Moz Sulphide Reserve @ 3.5 g/t Au, 3.1 Moz Sulphide Resource @ 1.8 g/t Au2

Distribution of 1.4 Moz Sulphide Reserve

1. Taken from 2016 Simberi Sulphide PFS. PFS level of accuracy ±30%. For full explanation refer to Q3 March 2016 Quarterly Report released 19 April 2016. 2. For details refer to ASX release 27 August 2018 ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ 3. For details refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Sustainability Report

42 / Diggers & Dealers Mining Forum – 5-7 August 2019

Simberi school vs Simberi mining team cricket match

Sustainability Report topics Governance & Economic Performance

• Core values and Code of Conduct
• Ethical business conduct with all stakeholders
• Manage for long term growth

Health & Safety

• Safe work environment and practices

People

• Attract, retain, engage and develop workforce
• Diversity

Social & Communities

• Engage, respect and enhance
• Minimise adverse impact

Environment

• Emissions and incidents
• Waste management
• Energy efficiency

Sustainability Report

• Complements Annual Report

& Corporate Governance Statement

• Disclosure guided by GRI standards
• Available on website at

stbarbara.com.au/sustainability/

St Barbara sponsors shootingstars.com.au school netball engagement program in Leonora Integrated suite of annual reporting Sustainability Report Corporate Governance Statement Annual Report

43 /

Hedging Summary at 2 August 2019

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Diggers & Dealers Mining Forum – 5-7 August 2019

Financial Year Volume

• unces

Price $/oz Delivery (all monthly instalments) Announced FY20 42,000 A$1,750 August to December 2019 7 & 19 Feb 2018 and 7 Mar 2018 FY20 24,000 A$1,809 January to June 2020 26 Oct 2018 FY20 24,000 US$1,300 January to June 2020 10 Dec 2018 FY21 26,000 A$1,809 July to December 2020 26 Oct 2018 FY21 26,000 US$1,300 July to December 2020 10 Dec 2018 Atlantic Gold (at 30 June 2019) Volume

• unces

Price $/oz Delivery (quarterly instalments) Announced July 2019 to February 2021 124,144 C$1,550 July 2019 to February 2021 21 Sep 2018

(8,000 of initial 50,000 ounces delivered year to date since 1 July 2019)

44 /

Ore Reserves Summary as at 30 June 2018

Diggers & Dealers Mining Forum – 5-7 August 2019

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) 1,845 9.0 531 6,061 7.0 1,368 7,907 7.5 1,899 Tower Hill, (WA)

• 2,572

3.7 306 2,572 3.7 306 Simberi Oxide, (PNG) 1,644 1.5 77 5,692 1.3 237 7,336 1.3 314 Simberi Sulphide, (PNG) 151 3.0 15 12,200 3.5 1,367 12,352 3.5 1,382 Simberi Stockpiles, (PNG) 889 0.8 22

• 889

0.8 22 Total All Projects 4,529 4.4 645 26,525 3.8 3,278 31,055 3.9 3,923

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 2018 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 27 August 2018 ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ available at www.stbarbara.com.au

45 /

Mineral Resources Summary as at 30 June 2018

Diggers & Dealers Mining Forum – 5-7 August 2019

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) 4,581 7.1 1,048 14,690 6.3 2,997 3,831 6.3 780 23,102 6.5 4,825 Tower Hill, (WA)

• 4,604

3.9 574 489 3.3 51 5,093 3.8 625 Simberi Oxide, (PNG) 2,120 1.2 85 10,163 1.0 341 4,834 1.0 150 17,117 1.0 576 Simberi Sulphide, (PNG) 526 1.7 28 40,683 1.9 2,454 12,615 1.6 654 53,824 1.8 3,136 Total All Projects 7,227 5.0 1,161 70,140 2.8 6,366 21,769 2.3 1,635 99,136 2.9 9,162

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 2018 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 27 August 2018 ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ available at www.stbarbara.com.au

46 /

Atlantic Ore Reserves Summary as at 13 March 2019

Diggers & Dealers Mining Forum – 5-7 August 2019

Tonnes (mt) Grade (g/t Au) Gold oz's ('000's) Touquoy Proven Reserves 3.36 1.10 119 Probable Reserves 7.14 1.28 295 Stockpile reserves 2.14 0.57 44 Total Proven and Probable Reserves 12.91 1.10 458 Beaver Dam Proven Reserves 3.81 1.54 188 Probable Reserves 3.09 1.43 142 Total Proven and Probable Reserves 6.90 1.49 330 Fifteen Mile Stream Proven Reserves 5.58 1.09 196 Probable Reserves 11.18 1.06 380 Total Proven and Probable Reserves 16.76 1.07 576 Cochrane Hill Proven Reserves 10.25 1.08 355 Probable Reserves 5.13 0.96 158 Total Proven and Probable Reserves 15.38 1.04 513 Total Moose River Consolidated Proven Reserves 22.99 1.16 857 Probable Reserves 26.55 1.14 975 Stockpile 2.41 0.57 44 Total Proven and Probable Reserves 51.95 1.12 1,877

The information in this report that relates to Ore Reserves at Atlantic Gold is based on information compiled by Mr. Marc Schulte who is a Member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta. Marc Schulte is a full-time employee of Moose Mountain Technical Services 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”. Marc Schulte consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

47 /

Atlantic Mineral Resources Summary as at 13 March 2019

Diggers & Dealers Mining Forum – 5-7 August 2019 Touquoy Beaver Dam Tonnage (Mt) Grade (g/t Au) Contained Gold (Au oz x 1,000) Tonnage (Mt) Grade (g/t Au) Contained Gold (Au oz x 1,000) Confidence Category Measured 3.4 1.14 124 5.1 1.28 209 Indicated 7.9 1.27 321 4.6 1.23 182 Total Measured and Indicated 11.3 1.23 445 9.7 1.26 392 Inferred 1.10 1.30 48 1.0 1.41 47 Fifteen Mile Stream Cochrane Hill Tonnage (Mt) Grade (g/t Au) Contained Gold (Au oz x 1,000) Tonnage (Mt) Grade (g/t Au) Contained Gold (Au oz x 1,000) Confidence Category Measured 5.9 1.22 216 10.8 1.12 387 Indicated 13.1 0.70 461 6.7 1.02 219 Total Measured and Indicated 19.1 0.98 677 17.4 1.08 607 Inferred 2.1 1.21 84 1.8 1.24 73

The information in this report that relates to Mineral Resources at Atlantic Gold is based on information compiled by Mr. Neil Schofield who is a Member of the Australasian Institute of Geoscientists. Neil Schofield is a full-time employee of FSSI Consultants (Australia) Pty Ltd 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”. Neil Schofield consents to the inclusion in the statement of the matters based on his information in the form and context in which it appears.

Diggers & Dealers Mining Forum – 5-7 August 2019 48 /

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 for Gwalia, Tower Hill and Simberi is extracted from the report titled ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ released to the Australian Securities Exchange (ASX) on 27 August 2018 and available to view at stbarbara.com.au. 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 27 August 2018 and 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 original ASX announcement. The information for the Atlantic Gold Mineral Resources or Ore Reserves is extracted from the report entitled ‘Moose River Consolidated Mine, Nova Scotia, Canada, NI 43-101 Technical Report’ created on 25 March 2019 and is available to view at stbarbara.com.au . The company confirms that it is not aware of any new information or data that materially affects the estimates of Mineral Resources or Ore Reserves, that all material technical assumptions and technical parameters underpinning the estimates in the market 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 original market announcement.

Scheduled ASX Announcements

21 August 2019 FY19 Full Year Report FY19 Final Dividend 30 June 2019 Ore Reserves and Mineral Resources Statements

Diggers & Dealers Mining Forum – 5-7 August 2019 49 /

Non-IFRS Measures

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. All-In Sustaining Cost (AISC) 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 stbarbara.com.au for example AISC may be shown as a unit cost per ounce ($/oz) or in aggregate (Σ AISC, $M) Cash contribution Cash flow from operations before finance costs, refer reconciliation of cash movement in the most recent quarterly report available at stbarbara.com.au 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

Diggers & Dealers Mining Forum – 5-7 August 2019 50 /

Investor Relations Enquiries

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

St Barbara Board, underground at Gwalia, October 2017. L to R: Tim Netscher (Non-Executive Chairman), Andrew Walker (Underground Manager), Rowan Cole (Company Secretary), Kerry Gleeson (Non-Executive Director), Bob Vassie (MD & CEO), and David Moroney (Non-Executive Director)