Presentation on Q2 December FY20 Quarterly Report and audio webcast - PDF document

ASX Release / 22 January 2020 Presentation on Q2 December FY20 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q2 December FY20 Quarterly Report at 11:00 am Australian Eastern Daylight Time (UTC + 11 hours) on Wednesday 22 January 2020. Conference call details for analysts and investors Please dial in five minutes before the conference call starts and provide your name, company and the Conference ID 1874499. Dial-in numbers: Australia 1800 148 258 International Toll +61 (0) 2 8038 5271 Canada 1866 837 4489 France 0800 908 221 Germany 0800 1814 827 Hong Kong 800 965 808 Norway 80 010 112 Singapore 8006 162 170 United Kingdom 0800 056 9662 USA 1866 586 2813 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 1900 Media Relations Mr Tim Duncan GRACosway with Hintons +61 408 441 122 ASX: SBM Authorised by Rowan Cole Company Secretary +61 3 8660 1900 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 / 22 January 2020 ASX:SBM Q2 December 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: Touquoy pit, Atlantic Gold Operations 2 / Q2 December FY20 Quarterly Presentation

Contents Highlights Exploration • • Safety Growth • • Operations Conclusion • • Projects Appendices • • 3 / Q2 December FY20 Quarterly Presentation

Highlights Q2 December FY20 • 94 koz at AISC 2 of A$1,364/oz (Q1: 88 koz at A$1,421/oz 1 ) Operational • Atlantic Gold record quarter production performance • Leonora Operations 2.5 million ounces under St Barbara ownership • Simberi Operations 1.0 million ounces since operations commenced • Operational cash contribution 2 of A$66 M (Q1: A$44 M) Financial • A$679/oz cash contribution 2 metrics • Gwalia and Simberi guidance revised this quarter • A$79 M cash at bank 3, Capital • A$112 M debt 4 management • Consolidated the existing A$200 M (undrawn) and C$100 M debt facilities into one, reducing interest expense by  A$1.6 M p.a. • Growth projects or studies at all mines • PAF (Paste Aggregate Fill) complete, delivering into stopes Growth • GEP (Gwalia Extension Project) delivering increased ventilation now • Encouraging drilling results in Nova Scotia and Papua New Guinea 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. Financial information unaudited. Cash balance comprises $69 M cash, $10 M term deposits 4 / Q2 December FY20 Quarterly Presentation 4. C$100 M debt facility

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 4.2 1.9 1.9 2.1 2.1 1.0 1.2 FY15 FY16 FY17 FY18 FY19 Q1 Q2 St Barbara WA Gold WA Metal FY20 FY20 Q2 FY20 • The Total Recordable Injury Frequency Rate (TRIFR, 12 month moving average) at 4.2 at the end of Q2 Dec FY20 • Corresponding LTIFR of 1.0 remains below WA industry average 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 / Q2 December FY20 Quarterly Presentation 3. Most recent statistics from www.dmp.wa.gov.au/Safety/Safety ‐ statistics ‐ 16198.aspx

Consolidated Q2 December FY20 Results Q2 FY20 AISC 1 AISC (A$/oz) 1,421 • Consolidated A$1,364/oz 1,364 1,175 (Q1: A$1,421/oz 2 ) 1,073 1,053 • Gwalia A$1,471/oz (Q1: A$1,559/oz) • Simberi A$1,851/oz (Q1: A$1,603/oz) Gold Production (koz) • Atlantic A$823/oz (Q1: A$970/oz) 112 109 108 94 88 23 20 Q2 FY20 Production 23 22 29 • Consolidated 94 koz (Q1: 88 koz 2 ) 36 34 36 23 27 • Gwalia 42 koz (Q1: 38 koz) 54 53 • Simberi 23 koz (Q4: 27 koz) 50 42 38 • Atlantic 29 koz (Q4: 22 koz) FY19 FY19 FY19 FY20 FY20 Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec 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 / Q2 December FY20 Quarterly Presentation Atlantic Gold prior to acquisition. Consolidated Q1 AISC inc SBM attributable production = A$1,445/oz.

Gwalia Q2 December FY20 Results AISC (A$/oz) 1,559 1,471 1,230 Q2 FY20 Production 1,016 1,081 FY19 average $1,027/oz • 42,022 oz (Q1: 38,153 oz) Mined grade • AISC 1 A$1,471/oz (Q1: A$1,559/oz) (g/t Au) 11.7 10.4 10.0 • Mined grade of 8.0 g/t Au 8.0 7.8 (Q1: 7.8 g/t Au) Reserve grade FY19 7.5 g/t Au Reserve grade FY20 2 • Mined lower grade stopes in Q2 as part 6.4 g/t Au of centre ‐ out mining sequence Gold Production (koz) • Total material moved remained steady 54.3 53.3 at 267 kt, increased mined volume in 50.0 constrained environment 42.0 38.2 FY19 FY19 FY19 FY20 FY20 Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Reported ounces in Quarterly Report. 1. Non IFRS measure, refer corresponding slide in Appendix 7 / Q2 December 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 FY20 guidance revised (A$/oz) Delayed completion of final raise 1,505 2 bore impacts forecast development 1,027 841 802 783 785 rate Mining sequence now returning to Production higher grade areas at the end of the (koz) financial year 268 267 265 248 • Production of 170 to 180 koz 220 (previously 175 to 190 koz) 180 • AISC 1 of A$1,470 to A$1,540/oz 170 (previously A$1,390 to A$1,450/oz) • Sustaining capex: A$60 to A$65 M (unchanged) • Growth capex: A$32 to $38 M (unchanged) FY15 FY16 FY17 FY18 FY19 FY20F 1. Non IFRS measure, refer corresponding slide in Appendix 8 / Q2 December FY20 Quarterly Presentation 2. Midpoint of FY20 AISC guidance

Gwalia Total material moved Gwalia total material moved (kt) Impact of GEP on trucking capacity • Excavation of the approx. 11 m high x 267 267 262 260 256 10 m wide chambers at 1,420 and 4 20 1,460 mbs for the PAF circuit 32 98 commenced in Q1 Sep FY17 106 115 82 78 • Raise ‐ boring of the four 5 ‐ metre diameter vent shafts commenced in Q3 Mar FY18 • The vent shafts total 2,800 m in 165 158 156 152 146 length and represent a volume of ~44,000 m 3 • PAF now operational and being FY19 FY19 FY19 FY20 FY20 delivered into stopes Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Ore mined Development waste • Ventilation fans operational, Raisebore waste Total material moved delivering 55% of GEP vent benefits from Q3 GEP = Gwalia Extension Project 9 / Q2 December FY20 Quarterly Presentation PAF = Paste Aggregate Fill