ST BARBARA LIMITED — AGM Information 2013

Nov 25, 2013

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ASX Release / 26 November 2013
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2013 Annual General Meeting and audio webcast

Attached is the Chairman’s address and the Managing Director and CEO’s presentation to the 2013 Annual General Meeting in Melbourne today.

A live audio webcast of the Annual General Meeting will be available from 11:00 am Australian Eastern Daylight Time (UTC + 11 hours), on St Barbara’s website at www.stbarbara.com.au/investors/webcast/ or by clicking here. The audio webcast is ‘listen only’ and does not enable questions. The audio webcast will also be made available on the website after the conclusion of the AGM.

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Ross Kennedy Executive General Manager Corporate Services Company Secretary

St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003

T +61 3 8660 1900 F +61 3 8660 1999 W www.stbarbara.com.au

COLIN WISE, CHAIRMAN

ADDRESS TO THE 2013 ANNUAL GENERAL MEETING OF SHAREHOLDERS OF ST BARBARA LTD

Ladies and Gentlemen

Overview of the 2013 financial year

The 2013 financial year was one of strategic transformation for St Barbara.

• The Southern Cross Operations in Western Australia were sold and the Simberi operations in Papua New Guinea and the Gold Ridge operations in the Solomon Islands were purchased.

• The Company issued US$250 million 5 year Senior Secured Notes to refinance bank debt and provide working capital.

The Gwalia mine in Western Australia at Leonora was confirmed as the valuable cornerstone Company asset that was envisaged when purchased in March 2005, and is now well supported by the King of the Hills mine.

The year also saw highly volatile market conditions in the US$ gold price, the Australian and US dollar exchange rate, and in the performance of St Barbara’s shares on the ASX .

The write down of the Pacific Operations’ assets as at 30 June 2013 by $221 million after tax, was largely the outcome of a substantial fall in the gold price.

Despite this write down, our view about the long term value of the Pacific Operations has not changed in the year since they were purchased. In fact, we consider the opportunity to add material value has been enhanced by applying our operating and exploration expertise.

Since the start of the current financial year 2014, the Leonora Operations are continuing to perform well, and a detailed programme to complete the turnaround of the Pacific Operations is being implemented against a backdrop of a further delay in being able to achieve this objective

The Board and Executive Management are acutely aware of the financial hardship that shareholders have experienced over the past 12 months with the drop in St Barbara’s share price, and generally across the rest of the Australian and global gold sectors. We remain intensely focused on re-building the conditions for the Company’s success and financial rerating.

The Managing Director and CEO, Tim Lehany will speak more about this later.

1

The gold price has weakened

As we entered the 2013 financial year, expectations of a strong and increasing US$ gold price were high. It was then about US$1,600 per ounce, the US economy was still supported by quantitative easing, and the inter-country European Community crisis remained unresolved. The increasing geopolitical instability in the Middle East overlaid the continuing uncertainty in the global financial markets.

These headline factors appeared to support a stronger long term gold price than what transpired by year-end.

The investment strategies of many ’long gold’ institutional investors favoured companies which created growth opportunities by diversifying the number and location of its mines, and were focused on increasing mine life by increasing ore reserves and lowering cost profiles.

It was in this environment that the St Barbara Board decided to proceed to acquire Allied Gold. Following the acquisition, as at 30 June 2013, the Company’s consolidated Ore Reserve estimates have increased to 5.2 Moz; the largest of any mid-tier ASX gold company.

Times have now changed.

The US dollar gold price did in fact increase, peaking at about US$1,790 per ounce in early October 2012.

Since then, the price has fallen over 31%, to around US$1,230 yesterday, the largest relative fall since the early 1980s.

Many gold company investors now refer to the need for gold mining companies to pay dividends and not grow in size, for the mere sake of it. This is a significant change from the mantra of previous years, not that there is anything wrong with seeking to make a profit and paying a dividend! It does however trigger a tension for gold mining companies to balance the mid to long term need to increase the resource and reserves base of the gold inventory against the need to pay dividends to shareholders.

Equity markets have been volatile

Share markets over the past 12 months have been equally volatile. The ASX Gold Index has dropped from 6,174 on 30 September 2012 to 1,912 yesterday, a fall of 69% in just over a year. The share price of gold companies experiencing operating or financial difficulties have been hit hard.

The market valuation of gold companies has changed. Traditionally gold companies traded at a premium to net asset valuation. Today most trade at a discount.

2

An interesting chart prepared by PricewaterhouseCoopers indicates how 50 selected mid cap Australian listed mining companies now have a market capitalisation which is less than their net asset value.

In particular, since 2011 the combined market capitalisation of these companies (approximately 28% of which are gold producers) has fallen from $65 billion to $35 billion as at the end of FY13. PwC contrasts the extent of this fall of $30 billion against aggregate impairment charges in FY13 of approximately $3.5 billion in the wake of falling commodity prices and market pessimism.

Transforming St Barbara

Our focus during the 2013 financial year was to re-position St Barbara for long term growth and sustainable cash generation.

The Southern Cross Operations in Western Australia were assessed as being close to the end of their economic life and were placed on care and maintenance in December last year. They were subsequently sold for $19.5 million cash plus a release from rehabilitation obligations.

When these operations were purchased by St Barbara in early 2005, only 6 months of mineable reserves remained. Between then and late 2012 almost 1.1 million ounces of gold from Southern Cross were produced, and the cash surpluses helped to sustain the Company in the early stages of mine development and operation at Gwalia.

In September last year, the purchase of Allied Gold’s Simberi Operations in Papua New Guinea and Gold Ridge in the Solomon Islands was completed, ensuring that St Barbara would not be a ‘one-mine’ company. The key underpinning factors supporting the acquisition were:

• the land holdings in both locations were assessed as being under-explored and highly prospective for gold;

• established mining operations were in place;

• large ore reserves estimates had been established;

• the offer terms were confirmed by external experts to be value accretive; and

• St Barbara’s established management and operating capabilities and corporate balance sheet could be readily utilised to turn around the two operations.

Status of the Pacific Operations

The current position in the Pacific Operations is that the work in turning around the operating performances at Simberi and Gold Ridge is taking longer and costing more than first thought. The fall in the gold price over the past 12 months has further exacerbated the economic performance of these assets.

3

A range of scenarios for the Pacific Operations, particularly at Simberi, have been considered by the Company in the current circumstances. This will be a continuing exercise. We believe that completing the turnaround work with determined perseverance is the right strategy to adopt at this time.

The planned turnaround of the Pacific Operations will not however proceed “at any cost”. If conditions deteriorate further for whatever reason, we will take whatever action is considered appropriate and necessary to protect the Company’s position and shareholder value.

Decisive steps have already been taken, as demonstrated in the recently announced downsizing of the Simberi work force.

In another indication of recent such action, the Company sold forward gold in the short term to mitigate the downside gold price risk during the continuing period of additional net parent company investment in the Pacific Operations. We have emphasised this was a short term measure to specifically manage financial risk and assure overall cash margins during a period of additional investment and production ramp up in the Pacific Operations.

The Company has no intention of forward selling gold production in the ordinary course of its business and accordingly, future production and the balance of production not covered by the forward sale will be fully exposed to the spot gold price.

In summary, St Barbara owns valuable operating mining projects in the Pacific region which are underpinned by the solid operating and financial performance of the Leonora Operations. We have experienced managers and support people who are well-regarded in the market place, and the necessary financial resources to deliver a strong and successful diversified Australia / Asia Pacific gold production and exploration Company.

We believe we are well placed to benefit from improved operating efficiencies at all our operations and particularly, if the gold price improves on a steady basis.

In this regard, we are assisted in our decision-making by the very solid support and encouragement from a number of the Company’s long -standing institutional investors. The current level of international and Australian institutional ownership of St Barbara exceeds 77%.

What is different as we project forward

We have been on a steep learning curve in the Pacific. Most, if not all, of the legacy issues we inherited have now been resolved.

We have a much better understanding of the key stakeholder objectives in both countries.

4

The Board and senior executive team members are acutely aware of the Company’s underperformance and fall in the share price. Performance in the next 12 months will be critical for the Company and its shareholders.

With an eye to the future, I should make special mention of the recently announced encouraging brownfields exploration drilling successes at the King of the Hills, Simberi and Gold Ridge mine locations. Significant drilling intersections have been reported in close proximity to existing mining operations and are expected to increase resources and potentially reserves at each operation. The objective here is to advance this work as quickly as is economically practicable in the circumstances. These drilling successes serve to confirm the need for companies like St Barbara to continue sensible brown fields exploration, even in troubled times.

In this regard, I repeat that the Board has been encouraged in recent years by a number of institutional shareholders, to continue developing a long term strategy for building a successful gold company. This has called for the Board to develop its strategy accordingly, and to approve the reinvestment of cash for value enhancing opportunities. In turn, there is an argument to be mounted for the Company’s strategy to be assessed on a much longer term basis than at quarterly rests.

As part of the Board’s thinking on future capital management strategies, once funds for debt repayments have been quarantined, dividends may also be considered if and when the Company is in a position to do so. Our overriding intention is to create shareholder value, including the generation of strong cash flows capable of supporting dividend payments according to profitability levels and market circumstances.

Despite the circumstances we find ourselves in, we continue to believe that the current operations of St Barbara are more than capable of achieving that goal, given a reasonable gold price scenario on a sustained basis.

For the time being, we will seek to optimise our capital position by driving operational efficiencies and delivering on our production forecasts. Inevitably, as I have just said, the gold price expressed in both Australian and US dollars, will have a significant impact, as will our operating performance.

AGM Agenda

I turn now, to the business of today’s agenda.

Let’s deal first with the remuneration report, which is the subject of the first resolution.

The Board is aware of concerns expressed by some proxy advisors and shareholders about the level of performance based incentive payments to senior St Barbara executives for the 2013 financial year.

5

It is important to understand the context in which the FY13 Executive KPIs were established by the Board, and the basis on which a limited performance payment to senior executives for the year was made.

In 2005 the Board established an Executive Management short term ‘at risk’ performance incentive structure which called for corporate and individual KPIs to be assessed annually at the end of each financial year. The KPIs are set as such clearly defined targets to incentivise performance, as are considered prudent and appropriate at that time. They are fixed by the Board at the beginning of each financial year. We have been operating under such a process since then.

The Long Term Incentive structure which measures performance over a three year period, is considered to be a more appropriate long term mechanism for aligning performance incentives with relative shareholder returns in particular.

The FY13 benchmarks were set in late June 2012 before the purchase of Allied Gold was completed on 7[th] September last year. While one corporate KPI was kept open until such time as we could establish meaningful performance targets with respect to the acquired Allied Gold assets, the Board set targets for safety and Australian profitability.

In order for executives to receive STI awards, the KPI of Australian net profit after tax (after gold price normalisation to budget) had to exceed budget by 10%, which it did. Likewise, with the safety target where the target benchmark was outperformed. However, the Pacific Operations’ gold production for the period of ownership during the financial year fell materially short of expectations, and a zero score was assigned. This had the effect of lowering the overall STI award.

On that basis, the Board considered that a recognition of short term performance for the year was appropriate and should be awarded. However, the poorer overall performance of the Company for the year was reflected in the lapse of the longer term share options which had come to the end of their 3 year life.

For FY14, the base salaries and fees of Directors, Executives and Managers have been frozen at FY13 levels. The FY14 STI KPIs for the Executive Management team have been set to reflect an emphasis on achieving a turnaround in the performance of the Pacific Operations. We expect that the achievement of this key business objective will strongly benefit the Company and its shareholders.

The Board will review the remuneration structures at an early date.

6

Board Composition

Ines Scotland joined the Board in September this year and is a welcome addition. She has extensive Australian and international resources industry experience and success, including as a CEO in establishing a large mining operation in a developing country. Her appointment is part of a measured Board programme which commenced in 2012, of assessing the Board’s composition against the Company’s strategic direction. This process of Board renewal is an important part of the Company’s governance processes.

Conclusion

The past 12 months since our last AGM have been particularly challenging for all concerned at St Barbara.

While we remain confident about the real long term value of the Company’s assets, including the Pacific Operations, no-one can provide any assurance that the gold price or the Company’s share price will not fall further. We will therefore continue to expect the heavy cloud pattern which seems to have settled above the gold sector worldwide, to remain in the near term. This will require us to drive the need for continued maximum flexibility, a resilience in approach, and a capacity to successfully adapt to change.

The Company’s Board and Management remain committed to completing the turnaround of the Pacific Operations but as I have indicated, this will not be “at any cost”. We will continue to strive to achieve maximum value for our shareholders.

Finally, I thank Board members, Tim Lehany and his executive team, and all St Barbara personnel, contractors and suppliers for their determined hard work and achievements in what has been a difficult and challenging past 12 months.

I particularly thank the Company’s longer term shareholders for their continuing strong and patient support for St Barbara and what we stand for.

7

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TIM LEHANY, MANAGING DIRECTOR & CEO / 26 November 2013
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2013 Annual General Meeting Business Overview

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Disclaimer
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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.

2 / ANNUAL GENERAL MEETING / 26 November 2013

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Diversified Australia-Pacific gold producer
Established operations in three countries
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Simberi
Simberi
PNG
SI ˃ Low strip open pit mine
˃ Targeting c. 100 koz p.a.
run rate
Gold Ridge
˃ Near mine targets for
Leonora
exploration
˃ Two underground mines:
˃ Gwalia Mine
FY14F production: Australia
180 - 195 koz Gold Ridge
˃ King of the Hills Mine ˃ Low strip open pit mine
Leonora
FY14F production: ˃ FY14F production:
55-60 koz
75- 90 koz
˃ Near mine targets for
exploration
ASX Top 200 Company, founded 1969
Market cap A$139 million [1 ]
Shares on issue 488 million [1 ]
Ore Reserves 30 June 2013 5.2 Moz [2 ]
Mineral Resources 30 June 2013 13.2 Moz [2 ]
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1. Source: ASX, 25 Nov 2013 @ $0.285

2. Refer ASX announcement 22 August 2013 ‘Ore Reserves and Mineral Resources Statements 30 June 2013’.

3 / ANNUAL GENERAL MEETING / 26 November 2013

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FY13 Performance
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˃ Strong Australian Operations

˃ Pacific Operations in transition, with transformation taking longer and costing more than originally anticipated

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4 / ANNUAL GENERAL MEETING / 26 November 2013

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FY13 was a year of transformation
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• ˃ The acquisition of two prospective Pacific Operations; Simberi gold operations in Papua New Guinea and Gold Ridge gold operations in the Solomon Islands

• ˃ The Sale of Southern Cross Operations (which had been on care and maintenance)

• ˃ A significant reduction in the Company’s total recordable injury frequency rate to 6.0 (the lowest on record)

˃ The issue of US$250 million 5 year senior secured notes to refinance bank debt and provide working capital

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5 / ANNUAL GENERAL MEETING / 26 November 2013

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A$ Gold Price
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A$/oz
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1,800
1,700
1,600
1,500
1,400
1,300
1,200
1,100
1,000
Oct 12 Dec 12 Feb 13 Apr 13 Jun 13 Aug 13 Oct 13
A$ Gold Price
Linear Trend
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˃ The A$ gold price has fallen around 22% since October 2012

Source: IRESS

6 / ANNUAL GENERAL MEETING / 26 November 2013

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Company Overview
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• ˃ A diversified portfolio of gold operations, with each mine open at depth or along strike

• ˃ Strongly performing Australian Operations including significant net cash generation from the Gwalia mine

• ˃ Increasing gold production from the Pacific Operations expected, underpinned by the implementation of St Barbara operating capabilities and systems

• ˃ The largest ore reserve position, 5.2 million ounces of contained gold[1] , of any mid-tier ASX listed company

• ˃ A number of near mine prospective targets at each operation are being drilled this year

• Refer ASX announcement 22 August 2013 ‘Ore Reserves and Mineral Resources Statements 30 June 2013’.

7 / ANNUAL GENERAL MEETING / 26 November 2013

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Segment profit
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Segment profit / (loss) before tax[1 ]

Australian Operations

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125
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• ˃ Lower profit in FY13 primarily due to lower gold price

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96
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30
20
- -
(0.4)
(12) (11)
(18)
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Gwalia King of the Gold Ridge Simberi Southern Hills Cross FY12 FY13

˃ Southern Cross result includes care and maintenance period prior to sale

Pacific Operations

• ˃ Simberi oxide expansion delays

• ˃ Recoveries at Gold Ridge to date lower than expected

• ˃ Slower than expected turnaround impacting production and increasing operating costs

A$M

1. Before asset impairments and write downs

8 / ANNUAL GENERAL MEETING / 26 November 2013

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Profit
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NPAT
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Underlying NPAT[1 ]

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130
69
-40
-76
2
-192
FY 09 FY 10 FY 11 FY 12 FY 13
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121
54
29
15
0.2
FY 09 FY 10 FY 11 FY 12 FY 13
A$M
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A$M

1. Non-IFRS measure, refer slide 29 2. FY13 NPAT includes $221M asset impairment

9 / ANNUAL GENERAL MEETING / 26 November 2013

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Three long life gold producing operations
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10 / ANNUAL GENERAL MEETING / 26 November 2013

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Leonora
Reliable cash margin generator
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Gwalia

• ˃ Ore Reserves 6.6 Mt @ 8.3 g/t Au containing 1.75 Moz[1 ]

King of the Hills

  - ˃ Provides ore to utilise available Gwalia mill capacity

• ˃ 9+ year mine life

• ˃ Deposit open at depth

• ˃ Steady state mining operation

• ˃ FY13 183 koz

• ˃ FY14F 180 - 195 koz

• ˃ Strong cash margins with FY14F cash op. cost[ 2 ] of A$720 – 750 /oz

• ˃ 700 kt pa ore processed on site through 1.2 Mt p.a. plant

• ˃ Reliable gold production of 55+ koz p.a.

• ˃ Ore Reserves estimated at 496 kt @ 4.3 g/t Au containing 68 koz[1 ]

• ˃ Extensional drilling program underway to seek to extend mine life

• ˃ FY14 guidance

  • ˃ Production 55 – 60 koz ˃ Capex A$12 – 15M

  • ˃ Cash op. cost[ 2 ] A$1,040 - $1,090/oz

• Non-IFRS measure, refer slide 29

• Refer ASX announcement 22 August 2013 ‘Ore Reserves and Mineral Resources Statements 30 June 2013’.

11 / ANNUAL GENERAL MEETING / 26 November 2013

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Pacific Operations
Completing the turnaround & realising growth opportunities
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12 / ANNUAL GENERAL MEETING / 26 November 2013

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Pacific Operations
Prospective mines and large under explored ground positions
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• ˃ Pacific Operations acquired 7 September 2012

• ˃ Turnaround opportunity to apply St Barbara operating capability

˃ Extensive under-explored prospective land holdings

• ˃ Turnaround of Simberi and Gold Ridge taking longer, costing more than first planned

• ˃ Anticipated to be achieving sustainable performance levels by June 2014

• ˃ Open pit operations

• ˃ Assets well understood

• ˃ Turnaround underway

• ˃ Drilling results at Simberi and Gold Ridge identify potential for new targets, larger mineralised systems[1]

• ASX release 24 July 2013 ‘Quarterly Report June 2013 & FY14 Guidance’

13 / ANNUAL GENERAL MEETING / 26 November 2013

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Simberi Operations, Papua New Guinea
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Plant expansion will deliver higher production and lower unit costs

14 / ANNUAL GENERAL MEETING / 26 November 2013

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Simberi Operations, Papua New Guinea
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• ˃ Small island in New Ireland Province

• ˃ Open pit mining since 2008

• ˃ Oxide plant expansion project commissioning has commenced

• ˃ Supportive, experienced local workforce now structured to achieve productivity gains

• ˃ Plant throughput expected to increase to 3.5 Mtpa following successful commissioning, and receipt of approvals to increase volume throughput

• ˃ Significant sulphide potential

• ˃ Already 1+ Moz[1] in sulphide ore reserves

• ˃ Simberi and neighbouring islands under explored

• Refer ASX announcement 22 August 2013 ‘Ore Reserves and Mineral Resources Statements 30 June 2013’.

15 / ANNUAL GENERAL MEETING / 26 November 2013

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Simberi Operations, Papua New Guinea
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Expected long term production increase from plant expansion

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120
100
80
60
40
20
0
FY 11 FY 12 FY 13 Long term
target p.a.
Blank Allied St Barbara Target Range
koz
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˃ Full oxide plant expansion expected to lift sustainable gold production to 100 koz p.a. rate

• ˃ Upgrade of mining fleet expected to address utilisation and reliability

• ˃ Cash costs will fall as production ramps up

Source: Allied Gold Mining Ltd published reports for production prior to St Barbara acquisition on 7 Sep 2012.

1. Non-IFRS measure, refer slide 29

2. As noted on previous slide, subject to receiving final approval for expanded processing rates, post commissioning

16 / ANNUAL GENERAL MEETING / 26 November 2013

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Gold Ridge Operations, Solomon Islands
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Established open pit operations in Charivunga Valley

17 / ANNUAL GENERAL MEETING / 26 November 2013

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Gold Ridge Operations, Solomon Islands
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Expected production increase in FY14 from improved operating performance

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100
80
60
40
20
0
FY 11 FY 12 FY 13 FY 14F
Blank Allied St Barbara Guidance Range
koz
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• ˃ 2.5 Mtpa processing plant and open pits located in highly mineralised Charivunga Valley, close to Honiara

• ˃ Lift in gold production expected through;

• ˃ Improved mining rates and equipment utilisation

• ˃ Plant improvements including:

  • ˃ Upgrade to gravity screen

  • ˃ Enhanced oxygen system

  • ˃ Mobile crusher

• ˃ Ongoing metallurgical studies aiming to lift recoveries above 70% in FY15

Source: Allied Gold Mining Ltd published reports for production prior to St Barbara acquisition on 7 Sep 2012.

• ˃ FY14F guidance anticipates production to be lower in Q1 Sep 2013 and Q3 Mar 2014

18 / ANNUAL GENERAL MEETING / 26 November 2013

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Exploration – seeking near mine discoveries to leverage
the value of existing operations
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Leveraging value from current operations

19 / ANNUAL GENERAL MEETING / 26 November 2013

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Ore Reserves and Mineral Resources
Amongst the highest of any ASX mid-tier gold company
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Significant Ore Reserves and Mineral Resources[1 ]

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13.22
7.61
5.24
2.53
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FY 12
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FY 13

Mineral Resources Ore Reserves

Moz

Diversified portfolio of Ore Reserves[1]

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Leonora,
Simberi,
WA
PNG
41%
42%
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Gold Ridge,
SI
17%
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1. ASX release 22 August 2013 ‘Ore Reserves and Mineral Resources Statements 30 June 2013’

20 / ANNUAL GENERAL MEETING / 26 November 2013

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Exploration
Focus on adding to near mine reserves
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Exploration spend FY14F $20-25M

• ≈ 40% in Australia

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Tabar Island Group
≈ 60% in Pacific Operations (inc. Simberi)
> Active drilling programs on defined
PNG
targets SI
Gold Ridge
Australia
Leonora Leonora
Nyngan
˃ Gwalia open at depth Gawler
˃ King of the Hills remains
open along strike to the
north
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• ˃ Attractive regional targets presently being drilled

• ˃ Prospective greenfield targets planned for further testing

Simberi

• ˃ Ore bodies open at depth

• ˃ Near mine targets for exploration identified and being drilled

• ˃ Significant sulphide potential

Tabar Island Group

• ˃ Multiple targets on Big Tabar and Tatau Islands identified

• ˃ Mt Siro and Mt Tiro currently being drilled

Gold Ridge

• ˃ Ore bodies open at depth ˃ Near mine targets for exploration identified and being drilled

• ˃ Regional exploration targets being identified

˃ Disciplined exploration funding based on assessed “Economic Value” of each project

21 / ANNUAL GENERAL MEETING / 26 November 2013

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FY14 Objectives
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Australia

• ˃ Forecast gold production 235 – 255 koz

• ˃ Continuing business improvement

• ˃ Drilling to test for mine life extensions at King of the Hills

Pacific Operations

• ˃ Lifting operations performance and planning for growth

• ˃ Applying St Barbara operating capability: plans, systems, controls

• ˃ Lifting production and reducing unit costs

• ˃ Gold Ridge: mining and plant process improvements, forecast gold production 75-90 koz

• ˃ Simberi: completing plant expansion, revised FY14 guidance for Simberi will be prepared once the plant expansion commissioning has been completed

22 / ANNUAL GENERAL MEETING / 26 November 2013

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St Barbara: Australia - Pacific gold producer
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Appendices

24 / ANNUAL GENERAL MEETING / 26 November 2013

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Exploration - Simberi, Tatau and Tabar Islands, PNG
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Simberi Island

• ˃ Exploration focused on identifying near mine, higher grade, oxide resources

˃ Further encouraging gold results[2] from drilling oxide mineralisation at Botlu and Pigicow on near-mine prospects : including[1]

• ˃ 14m @ 5.9 g/t Au from surface

• ˃ 65m @ 0.8 g/t Au from 9m

Tatau Island

• ˃ Encouraging gold results[2] from exploring geo-chemical and geophysical targets at :

• Mt Tiro including[1]

• ˃ 6m @ 3.5 g/t Au from surface

• ˃ 7m @ 2.2 g/t Au from 36m

• All intercepts down hole

25 / ANNUAL GENERAL MEETING / 26 November 2013

1. ASX release 30 October 2013 ‘Quarterly Report September 2013’

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Exploration – Gold Ridge, Solomon Islands
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˃ Extending near mine resources

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Guadalcanal Island

˃ On-going drilling on the Charivunga zone at Gold Ridge mine, producing further encouraging gold results[2] : including DGD011[1]

• ˃ 15m @ 1.4 g/t Au from 14m

˃ 20m @ 2.0 g/t Au from 128m

• ˃ 61m @ 3.8 g/t Au from 156m

• ˃ 59m @ 1.1 g/t Au from 326m

• All intercepts down hole

26 / ANNUAL GENERAL MEETING / 26 November 2013

1. ASX release 30 October 2013 ‘Quarterly Report September 2013’

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Exploration – King of the Hills, Western Australia
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˃ Extending near mine resources

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King of the Hills

˃ Early drilling results[2] testing for lode extensions to the north have been encouraging with results : including[1]

• ˃ 3m @ 117.4 g/t Au from 72m

˃ 7m @ 12.0 g/t Au from 111m

˃ 7m @ 19.2 g/t Au from 34m

1. All intercepts down hole

27 / ANNUAL GENERAL MEETING / 26 November 2013

1. ASX release 30 October 2013 ‘Quarterly Report September 2013’

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Competent Persons Statement
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Exploration Results

The information in this presentation that relates to Exploration Results is based on information compiled by Mr Phillip Uttley, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Uttley is a full-time employee of St Barbara Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Uttley consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

Mineral Resource and Ore Reserve Estimates

The information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the report titled ‘Ore Reserves and Mineral Resources Statements 30 June 2013’ released to the Australian Securities Exchange (ASX) on 22 August 2013 and available to view at www.stbarbara.com.au and for which Competent Person’s consents were obtained. The Competent Person’s consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 22 August 2013 and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcement.

Refer ASX release 22 August 2013 ‘Ore Reserves and Mineral Resources Statements 30 June 2013’ available at www.stbarbara.com.au .

28 / ANNUAL GENERAL MEETING / 26 November 2013

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Non-IFRS Measures
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We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance.

• Cash operating costs ˃ Calculated according to common mining industry practice using The Gold Institute (USA) Production Cost Standard (1999 revision)

• ˃ Refer September 2013 Quarterly Report (p3) available at www.stbarbara.com.au for example

• Significant items ˃ Items included in IFRS Net Profit After Tax that the Board and Management consider may not be indicative of, or are unrelated to, core operating results (such as profit or loss on gold options, or the sale of tenement rights)

• ˃ Refer 2013 Financial Report (p4) available at www.stbarbara.com.au for details

• Underlying net profit after tax ˃ Net profit after tax excluding identified significant items

• ˃ Refer 2013 Financial Report (p4) available at www.stbarbara.com.au for details

29 / ANNUAL GENERAL MEETING / 26 November 2013

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Investor Relations Enquiries
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Ross Kennedy

Executive General Manager Corporate Services E: ross.kennedy@stbarbara.com.au

Rowan Cole General Manager Corporate Services E: rowan.cole@stbarbara.com.au

T: +61 3 8660 1900

30 / ANNUAL GENERAL MEETING / 26 November 2013