Presentation on Q4 June FY19 Quarterly Report and audio webcast Bob - PDF document

ASX Release / 24 July 2019 Presentation on Q4 June FY19 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q4 June FY19 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Wednesday 24 July 2019. Participation on the conference call is by personal invitation only. A live audio webcast of the briefing will be available on St Barbara’s website at 32TU stbarbara.com.au/investors/webcast/ U32T or by 32T clicking here 32T . The audio webcast is ‘listen only’ and does not enable questions. The audio webcast will subsequently be made available on the website. Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1959 ASX: SBM Media Relations Mr Tim Duncan GRACosway with Hintons +61 408 441 122 ADR: STBMY St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 T +61 3 8660 1900 F +61 3 8660 1999 W www.stbarbara.com.au ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003

BOB VASSIE, MANAGING DIRECTOR & CEO / 24 July 2019 ASX:SBM Q4 June 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: Simberi SAG Mill. Photo by Anna Mote. 2 / Q4 June FY19 Quarterly Presentation

Contents Highlights Exploration • • Safety Growth • • Operations Conclusion • • Projects Appendices • • Manager Processing and Company Secretary at Leonora Operations. 3 / Q4 June FY19 Quarterly Presentation

Highlights Q4 June FY19 • 86 koz at AISC 1 of A$1,219/oz (Q3: 88 koz at A$1,098/oz) Operational • Simberi record production and cash flow for FY19 excellence • Continued successful Gwalia deep drilling and exploration • Operational cash contribution 2 of $58 M (Q3: $71 M) Financial • A$682/oz cash contribution 2 performance • Simberi generated $98 M cash contribution 2 in FY19 (FY18 $82 M) • Debt free, A$891 M cash at bank 3 , with A$780 M applied to Capital settlement of Atlantic Gold acquisition in July management • Operating cash flow will fund all anticipated growth projects • Atlantic Gold acquisition complete Growth • Life-of-mine extension projects or studies at all mines • Broad range of exploration projects, inc. equity investments 1. Non IFRS measure, refer corresponding slide in Appendix 2. Cash contribution is a non-IFRS measure, refer to corresponding slide in Appendix. Q4 June FY19 cash contribution ÷ Q4 June FY19 ounces of gold sold refer page 16 of the ‘ Quarterly Report Q4 June FY19’ 3. Financial information unaudited. Cash balance comprises $213 M cash, $678 M term deposits, and excludes 4 / Q4 June FY19 Quarterly Presentation $2 M restricted cash. Includes $480 M from entitlement offer (net of receipts)

Transformational Acquisition Consistent with our Strategy "Stronger for Longer" Substantial, low cost production from an established mining  • Diversify jurisdiction CY19 forecast production of 92 – 98 koz at an AISC of C$695 – production base • 755/oz (A$740 – 803/oz) 1 , with pathway to 200+ koz production  Sustainable long • Atlantic has meaningful reserves with mine life of 12years 2 • High cash margins driven by an industry low all-in sustaining cost life operations (AISC) position  Quality growth • Significant growth potential through planned reserve / resource expansion (Phase 3) and regional drilling (Phase 4) programs pipeline • Establishes a platform for future growth in North America  Talented people • St Barbara is intending to retain the existing operating team and seeking to retain key Atlantic executives for the transitional period who deliver • Atlantic's operational team has a track record of project delivery  Trusted to • St Barbara and Atlantic are trusted operators in their jurisdictions • Respective operational teams will be able to leverage each operate other's capabilities and specialisations 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 5 / Q4 June FY19 Quarterly Presentation Raising ’

Acquisition of Atlantic Adds a Low Cost Producer with Expansion Pipeline and Exploration Potential  Acquiring a great team of talented people who deliver Key statistics CY18 production 91 koz  Touquoy is a high quality producing asset in an CY19 production established mining jurisdiction 92 – 98 koz guidance  Current operation consists of one open pit, with Reserves 1 1.9 Moz planned expansion of three additional pits increasing Resources 1 2.4 Moz production to 200+ koz p.a. (targeting CY23 onwards) Current mine life 12 years  Low AISC position, driving strong cash flow generation CY18 AISC C$731 (A$761/oz) C$695 – 755/oz CY19 AISC guidance  Low life of mine (LOM) strip ratio of 2.9:1 (A$740 – 803/oz)  Demonstrated track record in resource expansion  Strong exploration potential with tenements along strike of the host structure Canada  One hour from Halifax (provincial capital), a 400,000+ population and significant industrial centre Nova Scotia 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 statement. Reported in 13 March 2019 " Mineral Resources Update for Touquoy, FMS and Cochrane Hill " and 25 March 2019 6 / Q4 June FY19 Quarterly Presentation " Updated MRC Production Schedule " Atlantic news releases. Touquoy on 100% basis

Atlantic Gold Touquoy Halifax 7 / Q4 June FY19 Quarterly Presentation

Focus on Safety St Barbara LTIFR 2 in comparison with Total Recordable Injury Frequency Rate 1 Western Australian Mining benchmarks 3 5.0 5.0 2.9 4.1 2.2 2.9 1.9 2.8 2.1 2.1 1.1 1.2 FY15 FY16 FY17 FY18 FY19 FY19 FY19 FY19 St Barbara WA Gold WA Metal, WA Metal, Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q4 FY19 Surface Underground • The Total Recordable Injury Frequency Rate (TRIFR, 12 month moving average) at 5.0 at the end of Q4 June FY19 • Deterioration is a major focus being addressed with employees and contractors • Corresponding LTIFR remains well below Inspecting the safety shower at the Gwalia Mill, May 2018, photo by Jonathon Mountford 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 3. Most recent statistics from www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx 8 / Q4 June FY19 Quarterly Presentation 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