Presentation on Q1 September FY19 Quarterly Report and audio webcast - PDF document

ASX Release / 17 October 2018 Presentation on Q1 September FY19 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q1 September FY19 Quarterly Report at 11:00 am Australian Eastern Daylight Time (UTC + 11 hours) on Wednesday 17 October 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. 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 W www.stbarbara.com.au ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003

BOB VASSIE, MANAGING DIRECTOR & CEO / 17 October 2018 ASX:SBM Q1 September FY19 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 FY19 = quarter to 30 Sep 2018 Q3 Mar FY19 = quarter to 31 Mar 2019 Q2 Dec FY19 = quarter to 31 Dec 2018 Q4 Jun FY19 = quarter to 30 June 2019 Title slide picture: Gwalia’s 2 millionth ounce, 9 October 2018, Members of the Gwalia Processing team: L to R – Roy Hewitt (Processing Manager), Andrew Smart (Goldroom Technician), Mark Kirkby (Goldroom Supervisor), Richard Greaves (Processing Superintendent) 2 / Q1 September FY19 Quarterly Presentation

Contents Highlights Growth • • Safety Diversity & Sustainability • • Operations Conclusion • • Projects Appendices • • Exploration • Laboratory Technician Sharee Briggs completing GIC , February 2018. 3 / Q1 September FY19 Quarterly Presentation

Highlights Q1 September FY19 • Quarter production of 99 koz (Q4: 119 koz) at AISC 1 of A$919/oz (Q4: A$812/oz) • 2 millionth ounce poured at Gwalia since 2008 restart under St Barbara ownership • Record cash contribution 1 from Simberi of A$34 M • Significant drill results at Gwalia and Simberi, supporting current and potential organic growth • Debt free, $350 M cash and term deposits 2 • Well positioned for growth 1. Non IFRS measure, refer corresponding slide in Appendix 4 / Q1 September FY19 Quarterly Presentation 2. Financial information unaudited. Cash balance comprises $117 M cash, $233 M term deposits (maturing between January 2019 and June 2019) and excludes $1 M restricted cash.

Focus on Safety Total Recordable Injury Frequency Rate 1 6.0 5.0 4.1 2.8 2.1 2.1 1.2 FY 13 FY 14 FY15 FY16 FY17 FY18 Q1 FY19 • Increase in TRIFR from 2.1 at the end of Q4 June FY18 to 2.8 at the end of Q1 September FY19, due to 5 low severity incidents ‘slips and trips’ Inspecting the safety shower at the Gwalia Mill, May 2018, photo by Jonathon Mountford 5 / Q1 September FY19 Quarterly Presentation 1. Total Recordable Injury Frequency Rate (12 month avg). TRIFR includes Pacific Operations from Sept 2012.

Consolidated Q1 September FY19 Quarter AISC 982 (A$/oz) 919 910 • Consolidated production of 889 99 koz (Q4 FY18: 119 koz) 812 • Gwalia 63 koz (Q4: 85 koz) • Simberi 36 koz (Q4: 35 koz) Production 119 (koz) 100 98 99 35 • Consolidated AISC 1 of A$919/oz 86 34 37 36 (Q4: A$812/oz) 29 • Gwalia A$833/oz 85 (Q4: A$679/oz) 64 63 63 57 • Simberi A$1,068/oz (Q4: A$1,135/oz) FY18 FY18 FY18 FY18 FY19 Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Gwalia Simberi Figures displayed to nearest koz. Reported ounces in Quarterly Report. 1. Non IFRS measure, refer corresponding slide in Appendix 6 / Q1 September FY19 Quarterly Presentation

Gwalia Q1 September FY19 Results AISC (A$/oz) 905 859 833 816 Q1 FY19 Production FY18 average $802/oz 679 Mined grade (g/t Au) 15.0 • 62,685oz (Q4 FY18: 84,537 oz) 13.4 12.4 11.2 10.7 • AISC 1 A$833/oz (Q4: A$679/oz) Reserve grade FY18 Reserve grade FY19 2 7.8 g/t Au 7.5 g/t Au • Mined grade of 12.4 g/t Au primarily from higher grade Production (koz) sections of South West Branch (Q4 FY18: 13.4 g/t Au) 84.5 • Ore tonnes mined 164 kt 64.3 62.8 62.7 56.7 (Q4 FY18: 201 kt) impacted by high intensity of project activity FY18 FY18 FY18 FY18 FY19 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 FY19 Quarterly Presentation 2. Reserve Grade per ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ released 27 August 2018

Simberi Q1 September FY19 Results AISC (A$/oz) 1,135 1,129 Q1 FY 19 Production 1,068 994 1,027 FY18 average $1,068/oz • 35,862 oz (Q4 FY18: 34,899 oz) • AISC 1 A$1,068/oz (Q4: A$1,135/oz) Production (koz) • Record operating cash contribution 1 of $34 million 36.7 35.9 34.9 34.0 • Milled grade record high 1.48 29.1 g/t Au (Q4: 1.45 g/t Au), high grade zones of Sorowar mine sequence • Ropecon planned 6 week maintenance shut in Q3 FY19 FY 18 FY 18 FY 18 FY 18 FY 19 Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep 1. Non IFRS measure, refer corresponding slide in Appendix. 8 / Q1 September FY19 Quarterly Presentation

Increasing Cash Balance 7 350 343 A$M 82 261 46 Q4 movement net Q1 movement net of: of: 17 Q3 movement net 215 $7 M tax $28 M dividends of: 198 Q2 movement net $4 M investments $6 M tax $16 M dividends of: $4 M investments $4 M investments $31 M tax Q1 movement net of: $12 M investments $25 M dividends FY18 FY18 FY18 FY18 FY19 Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Cash balance Column1 Net cash movement Cash balance excludes restricted cash. For details refer to cash movements table in ASX release 17 October 2018 9 / Q1 September FY19 Quarterly Presentation ‘Quarterly Report Q1 September FY19’

Cash Generation and Usage A$M 120 105 100 Operational cash contribution 86 79 79 79 80 60 Net cash movement for qtr 82 40 Corp. costs & royalties, 46 20 38 explr. & working cap. 17 7 0 Strategic investments -7 -16 -10 -25 -28 -31 -2 -4 -20 -7 -3 -4 -4 -1 Leonora - growth capital -4 -6 -18 -11 -40 -11 (inc. WC -10) -4 -12 Income tax payments -8 -60 -23 -80 Dividends paid -100 FY18 FY18 FY18 FY18 FY19 Operational cash contribution Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Operational cash contribution is a Non IFRS measure, refer corresponding slide in Appendix. 10 / Q1 September FY19 Quarterly Presentation For details refer to cash movements table in ASX release 17 October 2018 ‘Quarterly Report Q1 September FY19’

Main Current Projects – Timeline FY19 FY19 FY20 Q1 Sep Q2 Dec Q3 Mar Q4 Jun & beyond Gwalia Extension Project construction (completion due Q2 Dec FY20) Gwalia Mass Extraction feasibility study Gwalia 2600 mbs hole analysis and further drilling analysis and Gwalia 3D Targets drilling further seismic Simberi sulphide PFS drilling Simberi JV ongoing drilling and interpretation program (Nov 2016 to 2024) Initial 2 year option period to Nov 2018 Refer to ASX release 17 October 2018 ‘Quarterly Report Q1 September FY19’ 11 / Q1 September FY19 Quarterly Presentation