Presentation to 2018 Precious Metals Investment Symposium, Perth - PDF document

Shareholder Information / 3 October 2018 Presentation to 2018 Precious Metals Investment Symposium, Perth Stean Barrie, General Manager Technical Services, will present to the Precious Metals Investment Symposium in Perth, Western Australia, today. 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

STEAN BARRIE, GENERAL MANAGER TECHNICAL SERVICES 3-4 October 2018 Precious Metals Investment Symposium 2018

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 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. 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 operation at sunset, June 2018 Published 2 October 2018 2 / Precious Metals Symposium 3 - 4 October 2018

Contents • • Safety Strategy • • St Barbara today Future Growth • • Operations: Conclusion Gwalia & Simberi Gwalia mine - June 2018 Paste aggregate fill (PAF) chamber at Gwalia – June 2018 3 / Precious Metals Symposium 3 - 4 October 2018

St Barbara Today – Overview of Operations ASX 200 listed Company (SBM), founded 1969 Consolidated production • Shares on issue 524 M • FY18 403 koz @ AISC 4 A$891/oz • Market Cap 2 A$1,814 M • FY19F 3 363 koz @ AISC A$1,065/oz • 3.9 Moz 1 Ore Reserves June 2018 • Mineral Resources June2018 9.2 Moz 1 Simberi Leonora (Gwalia) • Open pit mine • Gwalia underground mine • FY18 production • FY18 production 268 koz @ AISC 135 koz @AISC A$1,068/oz A$802/oz • FY19F 3 production • FY19F 3 production 253 koz @ AISC 110 koz @ AISC A$1,325/oz A$950/oz Exploration • Greenfields and brownfields exploration portfolio in Australia & PNG • Near mine targets • JV with Newcrest in PNG 1. Refer ASX announcement 27 August 2018 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2018’. 2. As at close 1 Oct 18, A$3.46 per share 3. FY19F is midpoint of guidance, refer Q4 June 2018 Quarterly Report. 4. Non IFRS 4 / Precious Metals Symposium 3 - 4 October 2018 measure, refer corresponding slide in Appendix

St Barbara Safety Focus – Start Safe, Stay Safe Total Recordable Injury Frequency Rate 1 6.0 5.0 4.1 2.1 2.1 1.2 FY 13 FY 14 FY15 FY16 FY17 FY18 LTIFR comparison WA mining benchmarks 2 2.9 2.2 2.1 0.5 Pump isolation at Gwalia plant St Barbara WA Gold WA Metal, WA Metal, 2018 Surface Underground 1. Total Recordable Injury Frequency Rate (12 month avg). 2. Industry Lost Time Injury Frequency Rate (LTIFR) data per 2016-2017 benchmarks, from: http://www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx LTIFR = Lost Time Injury Frequency Rate, the 5 / Precious Metals Symposium 3 - 4 October 2018 number of lost time injuries per million hours worked.

Australian Gold Peer Comparison & FY18 Share Metrics • Underlying profit 1 has increased year on year since FY14 • Commenced paying fully franked dividends in FY17 • Dividend yield compares favourably to Australian gold peers Bubble size = 4% 39 1,2 FY18 gold production EPS (basic, Dividend Yield 2,3 (%) 32 A$ cents) 3% SBM 26 RRL 2% 12 Dividend per EVN share 6 (A$ cents) FY18 1% RSG NST OGC FY17 3.0 0% 2,3 Dividend 2.1 0.0 1.0 2.0 3.0 4.0 5.0 6.0 yield (%) FY16 Market Capitalisation (A$B) 1. Non-IFRS measure, refer corresponding slide in appendix 2. Underlying, refer corresponding slide in appendix 6 / Precious Metals Symposium 3 - 4 October 2018 3. Based on share price when dividend announced, FY18: A$3.99 on 21 August 2018 and FY17: A$2.91 on 22 August 2017

Gwalia Production, Cost and Grade Profile Mined Grade 12.5 (g/t Au) 10.5 10.7 9.3 8.8 8.9 8.4 8.2 6.9 6.3 5.7 Reserve Grade 3 7.5 g/t Au June 2018 260 265 268 Production 267 248 (koz) 245 214 AISC 2 185 183 (US$/oz) 863 131 713 700 109 622 592 570 83 1 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19F Jumbo inserting ground support at Gwalia – June 2018 Gwalia – Absorption Chiller Plant 1. FY19F AISC is midpoint of guidance, released 26 July 2018 in Q4 June 2018 Quarterly Report. 2. AISC is a non IFRS measure, refer Appendix. 3. June 2018 Reserve grade 7.5 g/t Au, r efer ASX announcement released 27 August 2018 titled ‘Ore Reserves and Mineral 7 / Precious Metals Symposium 3 - 4 October 2018 Resources Statements 30 June 2018’.

Year on Year Operational Improvements from Innovation and Business Improvement Program Ore passes (introduced FY15) Absorption Chiller Plant (installed 2015) Allows bogger to work constantly, independent of ore trucks, Uses waste heat for cooling underground. Second plant removes ore from fired stopes more rapidly, allowing paste- planned for Gwalia Extension Project (GEP) filling and adjacent stopes to be fired earlier Underground Storage and Co-disposal (introduced FY15) Continuous Remote Tele-bogging (introduced FY16) Where possible, storing waste underground frees trucks At critical times bogger operates 24 hours a day to haul ore to surface 8 / Precious Metals Symposium 3 - 4 October 2018

Simberi Production and Cost Profile 2,300 1,464 1,293 1,187 1,068 1,325 AISC 1 (A$/oz) 135 Production (koz) 115 116 110 105 80 44 2 FY14 FY15 FY16 FY17 FY18 FY19F Simberi processing plant, June 2018 – photo by Anna Mote 1. AISC is a non IFRS measure, refer corresponding slide in Appendix 9 / Precious Metals Symposium 3 - 4 October 2018 2. FY19F AISC is midpoint of guidance, released 26 July 2018 in Q4 June 2018 Quarterly Report .

Simberi – Improvements in all Metrics During FY14 to FY18: Simberi Total Material • Mining and haul fleet replaced Moved (kt) 1 • Preventative maintenance increased fleet availability • Ball mill retained and refurbished, used in 14,335 13,610 9,899 conjunction with SAG mill 6,289 • Improved understanding of pit geology 4,256 • Improved recovery FY14 FY15 FY16 FY17 FY18 Simberi Mill Throughput (kt) 3,690 3,586 3,315 2,660 1,714 Mining >200% increase in material moved since FY14 FY14 FY15 FY16 FY17 FY18 10 / Precious Metals Symposium 3 - 4 October 2018 1. Total material moved is ore + waste.

Strategy for the Next Five 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 11 / Precious Metals Symposium 3 - 4 October 2018