Presentation to Mines and Money London Bob Vassie, Managing Director - PDF document

ASX Release / 25 November 2019 Presentation to Mines and Money London Bob Vassie, Managing Director and CEO, will present to Mines and Money London this week. 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 W www.stbarbara.com.au ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003

BOB VASSIE, MANAGING DIRECTOR & CEO / 25-27 November 2019 Mines and Money London 2019

Forward Statements This presentation has been prepared by St Barbara Limited (“the Company”). The material Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore contained in this presentation is for information purposes only. This presentation is not an Reserves 2012 Edition ("JORC Code"), which governs such disclosures by companies listed offer or invitation for subscription or purchase of, or a recommendation in relation to, on the Australian Securities Exchange. The JORC Code differs in several significant respects securities in the Company and neither this presentation nor anything contained in it shall from Industry Guide 7 of the US Securities and Exchange Commission (“SEC”), which form the basis of any contract or commitment. This presentation is not a financial product governs disclosures of mineral reserves in registration statements and reports filed with the or investment advice. It does not take into account the investment objectives, financial SEC. In particular, Industry Guide 7 does not recognise classifications other than Proved and situation or particular needs of any investor. Before making an investment in the Company, Probable Reserves, and the SEC does not permit mining companies to disclose Mineral an investor or prospective investor should read this document in its entirety, consider Resources in SEC filings. whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances, seek legal and taxation advice appropriate to their jurisdiction The Company’s fiscal year (‘FY’) is 1 July to 30 June, e.g. FY19 = 1 July 2018 to 30 June 2019. and consult a financial adviser if necessary. The Company is not licensed to provide The Company uses Australian dollar presentation currency for reporting purposes. Financial financial product advice in respect of the Company’s securities. figures are in Australian dollars unless otherwise stated. Several items in this presentation This presentation may contain forward-looking statements that are subject to risk factors are shown in US dollars to aid comparison. US$ in this presentation converted from associated with exploring for, developing, mining, processing, sale of gold, as well as previously published A$ results using FX rates used in preparation of published quarterly financing, hedging and sovereign risk matters. Forward-looking statements include those reports and financial statements as follows: containing such words as anticipate, estimates, forecasts, guidance, outlook, should, will, Averages: FY19 = 0.7152, FY18 = 0.7751, FY17 = 0.7539, FY16 = 0.7281, FY15 = 0.8319, expects, plans or similar expressions. Such forward-looking statements are not guarantees FY14 = 0.9178. 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. It is Quarterly average rates: Q1 FY20 = 0.6860, Q1 FY19 = 0.7314, Q2 FY19 = 0.7168, Q3 FY19 believed that the expectations reflected in these statements are reasonable but they may = 0.7124, Q4 FY19 = 0.7001. be affected by a range of variables and changes in underlying assumptions which could 30 Jun spot rates: 2019 = 0.7021, 2018 = 0.7407, 2017 = 0.7695, 2016 = 0.7452, 2015 = cause actual results or trends to differ materially. Nothing in this document is a promise or 0.7713, 2014 = 0.9430 (Thomson Reuters). representation as to the future. Actual results may vary from the information in this 30 September spot rate: 2019 = 0.6749 All forward looking estimates converted at presentation and any variation may be material. Past performance is not an indication of A$1.00 = US$0.70 per initial FY20 guidance released in June 2019 Quarterly Report. future performance. Statements or assumptions in this presentation as to future matters may prove to be incorrect and any differences may be material. The Company does not For reference, at 21 November 2019 A$1.00 = US$0.6797 www.rba.gov.au. make any representation or warranty as to the accuracy 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 Australian Securities Exchange (ASX) Listing code “SBM” and has not been independently verified. No representation or warranty, express or American Depositary Receipts (ADR OTC code “STBMY”) through BNY Mellon, implied, is made as to the fairness, accuracy, completeness or correctness of the www.adrbnymellon.com/dr_profile.jsp?cusip=852278100 information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other Title slide picture: Leonora Operations at dusk person accepts any liability for any loss arising from the use of this presentation or its Published 25 November 2019 contents or otherwise arising in connection with it, including without limitation, any liability arising from fault or negligence on the part of the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party. The Company estimates its Ore Reserves and Mineral Resources in accordance with The 2 / Mines and Money London 25-27 November 2019

Contents • Safety • FY19 Review • Overview & Outlook • Operations & Growth o Atlantic Gold o Gwalia o Simberi • Exploration • Conclusion Board of Directors inspecting Paste Aggregate Fill (PAF) project at 1,420 mbs, Leonora, October 2019 3 / Mines and Money London 25-27 November 2019

Corporate Overview ASX 200 (ASX: SBM; ADR: STBMY), est. 1969 Commodity Gold (Au) Market Cap 1 A$1.8 B @ A$2.55/sh (US$1.2 B) Shares 1 699 M Liquidity 2 8.0 M/day (1.1%) FY19 EPS 3 A$0.27 (US$0.19) FY19 Total Dividend A$0.08 (US$0.06) Cash and cash deposits 4 A$76 M (US$51 M) Debt 9 A$112 M (US$76 M) Ore Reserves (JORC) 5 5.9 Moz (4.1 Moz + 1.9 Moz) Mineral Resources 5 12.0 Moz (9.6 Moz + 2.4 Moz) FY20F 7 FY19A 362 koz @ AISC 6 A$1,080/oz (US$772/oz) Consolidated 380 to 420 koz @ AISC A$1,240 to A$1,330/oz (US$868 to $931/oz) Gwalia 220 koz @ AISC A$1,027/oz (US$735/oz) 175 to 190 koz @ AISC A$1,390 to A$1,450/oz (US$973 to $1,015/oz) Simberi 142 koz @ AISC A$1,162/oz (US$831/oz) 110 to 125 koz @ AISC A$1,285 to A$1,450/oz (US$900 to $1,015/oz) Atlantic Gold 8 93 koz @ AISC A$862/oz (US$616/oz) 95 to 105 koz @ AISC A$900 to A$955/oz (US$630 to $669/oz) 1. As at close 21 Nov 2019 2. 3 months to 21 Nov 2019, Deutsche Bank 3. Basic EPS for FY19 4. As at 30 Sep 2019. Cash balance comprises A$66 M cash, A$10 M term deposits and excludes A$2 M restricted cash. 5. Refer corresponding Ore Reserves and Mineral Resources slides in Appendix, Leonora and Simberi as at 30 June 2019, Atlantic Gold as at 13 March 2019 6. Non IFRS measure, refer corresponding slide in Appendix. 7. FY20F guidance 4 / Mines and Money London 25-27 November 2019 released 24 July 2019 ‘ Q4 June FY19 Quarterly Report ’ and revised 18 October 2019 ‘FY20 production and cost guidance update’ 8. Atlantic Gold production attributable to St Barbara from 19 July 2019. 9. C$100M debt facility acquired with Atlantic Gold on 19 July 2019

St Barbara today Leonora (Gwalia mine) Simberi Atlantic Gold • Gwalia underground mine • Open pit mine • Open pit mine • FY 20F production 175-190 koz • FY 20F production 110 – 125 koz • FY 20F production 95–105 koz • 2.1 Moz Ore Reserve • 0.3 Moz oxide and 1.4 Moz • 1.9 Moz Ore Reserve (open at depth) sulphide Ore Reserve (open at depth) • Mine plan to FY 2031 (sulphide open at depth) • Four open pits planned to • Mine plan to FY 2021 FY 2030 5 / Mines and Money London 25-27 November 2019

FY20 Outlook AISC 1 (US$/oz) Consolidated 900 725 705 652 635 624 FY15 FY16 FY17 FY18 FY19 FY20F Gold Production 403 400 381 377 362 328 100 135 110 116 142 80 118 267 268 265 248 220 183 FY15 FY16 FY17 FY18 FY19 FY20F Guidance Gwalia Simberi Atlantic Gold Total mid-points PAF chamber prior to construction Gold production from continuing operations 1. Non IFRS measure, refer corresponding slide in Appendix. FX conversion per note on Slide 2 6 / Mines and Money London 25-27 November 2019