MACMAHON HOLDINGS LIMITED — Capital/Financing Update 2021

Mar 2, 2021

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ASX Release / 3 March 2021
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St Barbara appoints Macmahon as underground mining contractor at Gwalia

St Barbara Limited ( St Barbara ) advises that, following an extensive tender process, Macmahon Holdings Ltd ( Macmahon ) has been appointed the underground mining contractor at the Gwalia mine at Leonora Operations in Western Australia.

The initial contract term is five years, with an option for St Barbara to extend for a further three-year period.

The appointment of Macmahon brings an opportunity to enhance the performance of the Gwalia mine. The change of underground operator and new contract terms are an important aspect of St Barbara’s Building Brilliance company transformation.

St Barbara Managing Director and CEO Craig Jetson said: “ St Barbara is delighted to appoint Macmahon as a key partner in our commitment to instill a performance-led-culture at Gwalia .”

“ This change is indicative of St Barbara’s determination to enliven Gwalia’s future, to safely and sustainably rebuild operational performance and to secure future investment by delivering predictable and strong financial returns .”

“ We would like to thank Byrnecut for their service over the past seven years and look forward to an orderly and effective transition. During the handover period management will be focused on the wellbeing of our people and continuity of operations .”

The new contract terms dictate an appropriate risk responsibility between the contractor and St Barbara and is expected to improve underground mining performance and productivity, while reducing operating costs. Worker headcount is expected to remain stable.

St Barbara and Macmahon expect to sign the mining services agreement in March 2021.

Investor Relations	Mr David Cotterell	Manager Investor Relations		+61 3 8660 1959	ASX: SBM
Media Relations	Mr Ben Wilson	GRACosway		+61 407 966 083	ADR: STBMY
Authorised by	Ms Sarah Standish	General Counsel & Company	Secretary		3 March 2021
St Barbara Limited	Level 10, 432 St Kilda Road,	Melbourne VIC 3004	T+61 3	8660 1900F+61 3 8660 1999
ACN 009 165 066	Locked Bag 9, Collins Street	East, Melbourne VIC 8003	Wwww.stbarbara.com.au