ST BARBARA LIMITED — AGM Information 2016

Nov 29, 2016

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ASX Release / 30 November 2016
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Presentations to 2016 Annual General Meeting and audio webcast

Attached is the Chairman’s address and the Managing Director and CEO’s presentation to the 2016 Annual General Meeting in Melbourne today.

A live audio webcast of the meeting will be available on St Barbara’s website at www.stbarbara.com.au/investors/webcast/ or by clicking here, commencing at 11:00 am Melbourne time (UTC +11 hours) today. 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 Rowan Cole Company Secretary +61 3 8660 1900 Media Relations Mr Tim Duncan Hinton & Associates +61 3 9600 1979 St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 T +61 3 8660 1900 F ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

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

TIM NETSCHER, NON-EXECUTIVE CHAIRMAN

ADDRESS TO THE 2016 ANNUAL GENERAL MEETING OF SHAREHOLDERS OF ST BARBARA LTD

Introduction

Good morning ladies and gentlemen and welcome to St Barbara’s 2016 Annual General Meeting. I am pleased to be able to share with you today some of the highlights of the year and provide an overview of the outlook and intended future direction of your Company.

Record Performance

2016 has been an excellent year for St Barbara.

After delivering a significant turnaround in your Company’s performance during 2015, 2016 has seen the consistent delivery of reliable and highly profitable production. We have generated record cash flow and profit, and particularly pleasingly, have achieved this with a record low number of injuries. We have applied our free cash flow to the repayment of debt, dramatically transforming the Company’s financial position in a very short time.

During the financial year, our Australian dollar net debt position improved from $270 million to $89 million, reducing by a massive two thirds and following our most recently announced debt repayment, we will reach a ‘net cash’[1] positive position next month.

Our statutory profit was a record $169 million and our cash flow from operations was $243 million. The cash flow was more than double the 2015 result and the profit result quadrupled.

This substantial improvement in our circumstances has been reflected in our share price. During the year we re-entered the ASX 300 in September last year, and became the best performing company in that group for calendar 2015. Then we entered the ASX 200 in March this year and became the best performing stock in that group for financial year 2016.

We produced 387,000 ounces of gold in the financial year, up from 377,000 ounces in the previous year. This is more gold from two mines than we used to produce from four.

‘All-in sustaining costs’ per ounce have continued to decrease at both Gwalia and Simberi, giving us a margin that is amongst the best of the Australian listed gold companies and indeed in gold mining globally. The combination of a relentless focus on debt reduction and continued improvement of the Company’s cash operating cost position ensures that your Company is better insulated against future gold price fluctuations than most. Furthermore, in the current gold price environment St Barbara is amongst the most profitable of mining companies of any kind, any-

1 Non-IFRS measure, equivalent to cash and cash equivalents less current and non-current interest bearing borrowings

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where. We believe that this is not yet reflected adequately in our share price, which Bob Vassie will touch on shortly.

The exploration campaign at Gwalia that we began in 2014 has borne fruit this year and has therefore justified that exploration investment. We added substantially to both our reserves and resources, even after mining depletion is taken into account.

We continue to see good results from our deep drilling campaign below 2 kilometres underground, with no sign of adverse geotechnical conditions. With the encouraging results of other exploration higher in the mine, we are looking to again further add to reserves and resources next year. The strength of our mineral inventory is another factor that does not appear to be appropriately reflected in our share price.

Our Simberi operation has seen continued improvement this year, justifying our decision to persevere with what was an underperforming asset in 2014.

Simberi is now demonstrably confirmed as a reliable earner of cash, exceeding its target production rate of 100,000 ounces per annum for 6 consecutive quarters. With the sensible use of hedging we have ensured that Simberi will stay cash positive regardless of gold price conditions for the remainder of this financial year.

Simberi Strategic Review

During the year we determined that we should conduct a strategic review of our PNG assets, considering the commercial opportunities available from divestment or joint venture or retaining both the operating and extensive exploration assets of Simberi.

This review has been completed and we announced the results earlier this month. Those results are:

• That we will retain Simberi as an operating asset, and all gold oxide and sulphide exploration opportunities in the Tabar Island group.

• That we will joint venture with Newcrest the exploration of copper-gold porphyry prospects on Tatau and Tabar Islands.

• That we will not, based on the existing reserves, resources and feasibility study, invest in sulphide mining and processing on Simberi at this time but will continue with studies of opportunities to improve the economics of this project.

We will continue to explore for oxide and sulphide gold. Further exploration success and other developments that materially improve the sulphide project may lead to a re-evaluation in the future.

The current oxide mining at Simberi will conclude when economically accessible oxide ore sources are exhausted – we estimate on current data in approximately two years.

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The conduct of this review was exhaustive and we believe that the conclusion reached is sound. The joint venture with Newcrest represents a strong opportunity for both companies, and Bob will comment further on this.

Strategy and Outlook

Now, turning to ongoing matters of strategy and outlook.

My priority as Chairman is to ensure that St Barbara will be a reliable, sustainable and profitable Company in the long term.

At Gwalia, we have a world class asset that is likely to generate excellent cash flows for several years and potentially longer, given our active engagement in identifying further reserves and resources as I have said.

We intend to invest sensibly in further mining infrastructure at Gwalia, potentially including, in the near future, new ventilation shafts and related power and refrigeration plants, with an investment decision due next month. Also being studied are larger payload trucks and further innovations which I will leave to Bob to further elaborate on.

We own considerable exploration tenements in the immediate Gwalia area and the surrounding Leonora province. We intend to explore this area using the most modern, efficient and effective means available and to thereby potentially add even further to the profitable life of the Leonora operation.

We will also seek to grow ore reserves and mineral resources through greenfields exploration, such as is currently occurring at our Pinjin tenements north-east of Kalgoorlie. I have spent a considerable proportion of my long career in mining in Western Australia, and though it is a large state, it is well explored. Discovering a prospective formation of this type and size, open in two directions, is unusual and encouraging.

At Simberi and in the nearby islands we also have a number of significant exploration opportunities. The potential for economic copper-gold porphyry type mineralisation is noteworthy, as has been recognised by our new joint venture partner Newcrest. We are also actively seeking to identify additional oxide and sulphide deposits on the nearby islands in our own right.

The Company is also evaluating other sensible growth opportunities, although identifying value, particularly in Australia, is challenging. It’s a bit like looking for a sausage in a dog kennel.

Bob will provide more detail on these opportunities in his address.

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Dividends

Since we published our end of year results, some analysts and shareholders have asked about our dividend policy. For the past two years, we have been single-minded in conserving cash and applying any surplus cash to reducing debt. As I previously mentioned, we anticipate being debt free in the very near future.

With the immediate objective of eliminating our debt about to be successfully achieved, the Board is turning its attention to a number of competing priorities to replenish the Company’s reserves and resources, such as investing in a solution to efficiently unlock the potential of deep Gwalia, catching up on the deficit of exploration expenditure over our highly prospective tenements, which in certain areas was, of necessity, constrained over the past few years, along with Simberi oxide and sulphide exploration, studies to unlock the sulphide potential of our tenements there, and potential M&A activities. Of course, if these activities are not judged to enhance shareholder value, the Board will consider returning cash to shareholders in a tax-efficient manner.

While we are blessed with reasonable life ahead of us at Gwalia, particularly if we are able to efficiently and innovatively access the rich potential of Gwalia deeps, in the end, we will become no different to our peers in that we are exploiting a depleting resource, which we should always be mindful of replenishing in a value-accretive manner for shareholders.

In summary, the Board is considering dividends within a mix of future investment options as one part of the Company’s overall asset management and stewardship duties, noting that dividends need to balance underlying financial performance and cash flow, with balance sheet and treasury risk management, working capital needs and competing internal and external investment opportunities.

Dividends should be driven from seeking to increase the value of the Company for all shareholders. We have a broad church of shareholders to consider, with varied preferences between capital growth and dividends, and between franked or unfranked dividends.

Board

And now, to your Board.

We have a small, hard-working Board of directors. It is nimble and fit for purpose and has the necessary range and balance of skills, expertise and experience, including an excellent understanding of the mining and resources sector, as well as of business, finance and corporate governance as reflected in our published Skills Matrix.

Further, your Board is, I believe, imbued with a suitable degree of diversity of views and background, promoting robust and rigorous discussion and decision making in keeping with modern corporate board dynamics.

Your Board recognises the requirement to balance stewardship and entrepreneurship, as appropriate to a mid-cap mining company of our circumstances.

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In Conclusion

To summarise, the refocus of the Company on the two mines at Gwalia and Simberi has been successful, and generated a year of record results. The strong cash flows have been deployed sensibly to effect a very significant positive change in the Company’s financial position. Our focus will remain on being strongly profitable for the long term.

On behalf of the Board, I would like to thank shareholders for your continued support as we have progressed with positioning the Company for its next phase of development.

I would also like to congratulate Bob, his executive team, all of our employees and contractors and also my fellow directors Kerry and David on the success they have achieved, and thank them for their hard work, perseverance through some difficult times, and commitment to improvement and discipline in good times. In my long and varied mining career, it is a rare and proud occasion to report such good results.

Thank you for your attention. I will now hand over to your Managing Director and CEO, Bob Vassie.

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BOB VASSIE, MANAGING DIRECTOR & CEO / 30 November 2016
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2016 Annual General Meeting Managing Director & CEO Presentation

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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 30 November 2016

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Outline
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• FY16 Highlights

• Leonora Operations

• Simberi Operations

• Exploration & Growth

• Outlook

• Appendices

3 / Annual General Meeting 30 November 2016

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FY16 Highlights
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• Record Safety

• Balance sheet repaired

• Record Production

• Record Profit

• Addition to Gwalia Resources & Reserves

• Record Cash Flow

• Best performing stock in ASX 200[1 ]

• www.mywealth.commbank.com.au, 1 July 2016.

4 / Annual General Meeting 30 November 2016

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Continued safety success
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Total Recordable Injury Frequency Rate[1 ]

Safety

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9.0
6.0
5.0
4.1
2.1
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• Record FY16 TRIFR of 2.1

• Record safety performance of 1.8 TRIFR[1 ] in Q1 FY17

• Overall winners for the second year running in CMEWA Underground Mine Emergency Response Competition[2]

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FY 12 FY 13 FY 14 FY 15 FY 16
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1. Total Recordable Injury Frequency Rate (12 month average)

2. The Chamber of Minerals and Energy Western Australia, 5-7 November 2016, Kalgoorlie

5 / Annual General Meeting 30 November 2016

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Record production & costs for the Group
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AISC [1 ]
1,340
(A$/oz)
1,007
933
Production (koz)
387
377
368
9
46 50 110
70 80
45 267
248
215
FY14 FY15 FY16
Gwalia Simberi King of the Hills Gold Ridge
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Record production & costs

• Record production at Gwalia, Simberi and consolidated

• Increased production and continued cost management resulting in lower All-In Sustaining Cost (AISC)[1]

1. Non IFRS measure, refer slide in appendix

6 / Annual General Meeting 30 November 2016

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FY16 Financial Summary
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			FY16	FY15
Gold price	Average gold price realised	A$/oz	1,595	1,439
	All-In Sustaining Cost1	A$/oz	933	1,007
Result	Statutory profit after tax	A$M	169	40
	Underlying net profit after tax1	A$M	127	42
Cash flow	Cash flows from operating activities	A$M	243	113
	Debt repayments2	A$M	142	71
Ratios	Basic earnings per share (from continuing operations)	$ps	0.34	0.04
	Return on capital employed3 (from continuing operations)	%	54	21

1. Non-IFRS measure, refer appendix 2. Principal repayments from cash flow statement 3. 2016 Annual Report, p3

7 / Annual General Meeting 30 November 2016

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Balance sheet repaired and positioned for growth
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St Barbara A$ Net Debt[1]

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A$M
Net cash
50
+ve
0
-15
-50
-92
-100
-134
-150
-199
-200
-243
-250 -270
-311 -312
-300 -320
-350
FY15 FY15 FY15 FY15 FY16 FY16 FY16 FY16 FY17 FY17
Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec
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Dramatic debt reduction program executed through FY16 in line with strategic plan

• Net debt reduced by A$178 million during FY16 to A$92 million at June 2016, and further reduced to A$15 million at September 2016

• Anticipate being net cash positive in Q2 December 2016

8 / Annual General Meeting 30 November 2016

1. Refer to Debt slide in Appendix for inputs and methodology.

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St Barbara vs Comparators FCF Yield & EV/Reserves
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EV/Reserve oz
( A$/oz)
A$0
A$200
St Barbara
A$400
Oceana Gold
A$600
Saracen
Evolution
A$800 Regis
A$1,000
Bubble size =
estimated Northern Star
A$1,200 production rate
(koz p.a.)
A$1,400
5% 7% 9% 11% 13% 15% 17% 19% 21% 23%
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FCF Yield (FCF/EV)

Source: Bell Potter 8 November 2016 (with permission), when SBM = $2.66/share, EV = $1.4B, spot gold = A$1,676/oz EV = Market cap + net debt. AISC margin = A$ spot gold less reported AISC (SBM = A$935 /oz Q1 Sep 2016). Production is gold ounces only, by-product credits are accounted for in AISC. Implied free cash flow = AISC margin x estimated annualised production, and is an estimate only.

9 / Annual General Meeting 30 November 2016

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Gwalia

A rich history with a bright future

10 / Annual General Meeting 30 November 2016

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Record production driven by productivity gains
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Mined Grade
9.3
(g/t Au) 8.8 8.9
8.2 8.4
6.9
Reserve Grade
6.3
5.7 8.3 g/t Au June 2016
267 265
Production
(koz) 248 245
214
185 183
AISC
(A$/oz) 940
880
841
131 783
109
83
FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 F
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FY16 continued improvement

• FY 16 production of 267 koz (FY15 248 koz)

• AISC of A$783/oz (FY15 A$841/oz)

FY17 guidance

• Production 245 – 265 koz

• AISC A$850 – A$910 per ounce

• Capital expenditure A$40 to A$47M

AISC is a Non-IFRS measure, refer appendix . FY17F AISC is midpoint of guidance, released 19 July 2016 in Q4 June 2016 Quarterly Report. June 2016 Reserve grade 8.3 g/t Au, refer ASX announcement released 23 August 2016 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2016’.

11 / Annual General Meeting 30 November 2016

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8% year on year improvement with 3 key innovations
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Ore passes

Allows bogger to work constantly, independent of ore trucks, removes ore from fired stopes more rapidly, allowing paste-filling and adjacent stopes to be fired earlier

Continuous Remote Tele-bogging (CY16) At critical times bogger operates 24 hours a day

Underground Storage

At critical times shorter waste removal turnaround time gives greater availability of trucks for taking ore to surface

12 / Annual General Meeting 30 November 2016

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St Barbara vs Global Gold Mines – Q4 June 2016 US$ AISC
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Q4 June 2016 Global gold production – AISC
1,400
53 companies, 196 mines
1,200
1,000 St Barbara US$716/oz AISC
(inc. Gwalia US$644/oz AISC)
800
600
400
200
0
0 2 4 6 8 10
Asia Africa Australia North America South America
AISC (US$/oz)
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Cumulative production (Moz)

AISC is a non-IFRS measure, refer corresponding slide in Appendix. Company published AISC. Source: Global Mining Research (with permission)

13 / Annual General Meeting 30 November 2016

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Upgrade to Gwalia Resources & Reserves
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Gwalia Mineral
Resource
June 2015
Gwalia Mineral
Resource
June 2016
Measured
200m depth Indicated
Inferred
extension of
Resource model
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+938
+193
+297
-346
-277
3,896
1,808 3,304
1,594 koz
Gwalia Reserves Gwalia Resources
June Mining Depth Design June June Mining depletion Depth June
2015 depletion extension changes 2016 2015 & sterilisation extensions 2016
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koz
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Refer ASX announcement 23 August 2016 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2016’.

14 / Annual General Meeting 30 November 2016

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Future Gwalia:
Innovation facilitating deeper, longer, greater production
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Gwalia ventilation upgrade study

• Investment decision December 2016

• Enable mining at current rates below 1800 mbs

• Potential for more mining fronts (e.g. West Lode)

MT65 Mining Truck

• More productive mining truck with 10% higher payload at similar speed

• Commercial negotiations and planning underway

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Further innovations under study

• Underground waste crushing

Top left, vent shafts concept drawing, below Atlas Copco MT6020 trucks & MT65 truck at Gwalia.

15 / Annual General Meeting 30 November 2016

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Simberi Reliable cash producer | Strategic Review complete

16 / Annual General Meeting 30 November 2016

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Simberi FY14 to FY16 – improvements in all metrics
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Mining
Consecutive years of >50% improvement
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All-in sustaining cost
(A$/oz)
2,300
1,464
1,293
9,898
6,293
Mining 4,151
(kt) 110
80
Production
(koz)
44
FY14 FY15 FY16
Production Mining
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Processing

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3.3 Mt processed in FY16, 29% improvement Y on Y
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Mining is total material moved (ore + waste). AISC is a non IFRS measure, refer corresponding slide in Appendix.

17 / Annual General Meeting 30 November 2016

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Simberi FY14, FY15 and FY16
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Simberi Mine Output

Simberi Gold Production

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9,899 kt
6,293 kt
4,151 kt
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110 koz
80 koz
44 koz
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FY14
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FY15 FY16
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FY14
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FY15 FY16
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Simberi Mill Throughput

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3,315 kt
2,670 kt
1,713 kt
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FY14 FY15 FY16
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AISC [1] (A$/oz)
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2,300
1,464
1,293
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FY15 FY16
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FY14
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1. Non IFRS measure, refer corresponding slide in Appendix

18 / Annual General Meeting 30 November 2016

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Simberi strategic review complete
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St Barbara to retain and operate Simberi Operations

• Reliable cash generator, FY16 segment profit A$34 million, cash contribution A$34 million[1 ]

Option and Farm-in Agreement (joint venture) with Newcrest for joint coppergold porphyry exploration on nearby islands

• Option for Newcrest to earn up to 75% JV interest within 8 years, by investing total US$28 million in exploration and 36,000m of drilling, subject to milestones

Focused exploration underway to improve the economics of possible future sulphide expansion

• St Barbara’s FY17 forecast exploration expenditure in PNG (excluding JV exploration) of between A$6 and A$7 million

• Refer 2016 Annual Report p4 cash contribution and p41 segment profit before income tax. For full explanation refer to ASX release ‘Simberi Strategic Review Concluded ’14 November 2016

19 / Annual General Meeting 30 November 2016

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Simberi strategic review: JV for copper-gold exploration
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JV with Newcrest for copper-gold porphyry exploration

• Newcrest recognised as a copper-gold porphyry expert

• JV enables the required large scale exploration (and development) for coppergold porphyry

• Recognises copper-gold porphyry exploration potential on Tabar Islands

St Barbara retains oxide and sulphide gold rights

• St Barbara retains rights over oxide and sulphide material which is, or has the potential to be, mill feed for the existing oxide or contemplated sulphide plant on Simberi

• St Barbara’s own exploration continues, seeking to add to resources and reserves for current oxide mine life and potential sulphide project

20 / Annual General Meeting 30 November 2016

For full explanation refer to ASX release ‘Simberi Strategic Review Concluded ’14 November 2016

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St Barbara’s organic growth opportunity
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21 / Annual General Meeting 30 November 2016

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Exploration FY17: Locations & Guidance
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A$18 to A$22 million

• A$10- A$12 million Gwalia

• Gwalia Deep drilling infill + Northern Extension

• Gwalia Seismic

A$8- A$10 million –

30% Pinjin WA, 70% PNG

• Pinjin – complete drilling

• Simberi oxide – near mine

• Tatau copper- gold

• Tatau oxide & sulphide

• 2,200 km[2] land under management

• inc. 1,700 km[2] in WA, 270 km[2] in PNG

22 / Annual General Meeting 30 November 2016

For full explanation refer to ASX release ‘June Quarterly Report ‘19 July 2016

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Gwalia Deeps & Northern Extension exploration continues
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For full explanation and results refer to ASX release 19 Oct 2016 ‘Quarterly Report September 2016’

23 / Annual General Meeting 30 November 2016

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Gwalia Deeps Exploration – Northern Extension
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For full explanation and results refer to ASX release 19 Oct 2016 ‘Quarterly Report September 2016’

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Seismic Exploration campaign
Greater Gwalia Province in FY17+
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• Use sound waves reflecting off mineral formations to explore Greater Gwalia

• 1H FY17 calibration and focus on Gwalia to gain a greater understanding of deposit

• Used successfully by other WA Gold miners

• 2H FY17+ exploration of Greater Gwalia Province

• Leading edge use of sensors down deep drill holes

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For full explanation and results refer to ASX release 19 July 2016 ‘Quarterly Report June 2016’

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Exploration: Pinjin, Leonora WA
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The Pinjin Project is located 150km northeast of Kalgoorlie WA, comprising a large tenement package of 1,358 km[2 ]

For full explanation and results refer to ASX release 19 October 2016 ‘Quarterly Report September 2016’

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Exploration: Pinjin WA
Results Q1 September 2016
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27 / Annual General Meeting 30 November 2016 For full explanation and results refer ASX release 19 October 2016 ‘Quarterly Report September 2016’

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Inorganic Growth
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Eyes open for opportunities

Will Consider

• Consider sensible inorganic growth where it increases shareholder value

• Robust and systematic evaluation process underway

• Exploration, project, development and operating assets

• Range of sizes

• ‘Investible’ assets inside and outside of Australia, however, preference for Australian assets

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Great year, big future
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FY16

FY17

• Record safety

• On track to achieve FY17F production & AISC[1]

• Record production

• Low Gwalia AISC[1] generates high margin & cash flow

• Record profit

• Now looking at profitable growth options

• Record cash flow

• Working to further extend Gwalia life

• Balance sheet repaired

• Exploration focused on Greater Gwalia and Pinjin (WA), Simberi and Tatau (PNG)

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1. All-In Sustaining Cost, non-IFRS measure, refer appendix

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Appendices
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Gwalia processing plant, Leonora WA

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Overview of operations
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• ASX 200 listed Company (SBM), founded 1969 Consolidated production

• • Shares on issue 497 M • FY16 387 koz @ AISC[4] A$933/oz

• • Market Cap[2 ] A$1,093 M • FY17F[3] 355 koz @ AISC A$1,030/oz

• • ADR OTC code STBMY • Ore Reserves June 2016 4.0 Moz[1] • Mineral Resources June 2016 9.1 Moz[1]

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Simberi
Leonora
• Gwalia underground mine
• FY16 production
267 koz @ AISC A$783/oz
• FY17F [3] production Simberi
255 koz @ AISC A$880/oz
• Open pit mine
• FY16 production 110 koz
Exploration Australia • FY17F [3] prod’n 100 koz
• Greenfields and • Potential for long life
brownfields exploration Leonora sulphide mine
portfolio in Australia & PNG
• Near mine targets
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31 / Annual General Meeting 30 November 2016
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1. Refer ASX announcement 23 August 2016 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2016’. 2. As at close 29 Nov 2016, $2.20 ea 3. FY17F is midpoint of guidance, released 19 July 2016 in Q4 June 2016 Quarterly Report. 4. Non IFRS measure, refer corresponding slide in Appendix

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Consolidated Production, Costs, Guidance Summary
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Production Summary Consolidated	Production Summary Consolidated	Q3 Mar FY16	Q4 Jun FY16	Year FY16	Q1 Sep FY17	Guidance FY173
Production
Gwalia	oz	66,147	65,098	267,166	67,118	245 to 265 koz
King of the Hills4	oz	-	-	9,112	-	-
Simberi	oz	25,433	26,935	110,286	25,429	95 to 105 koz
Consolidated	oz	91,580	92,033	386,564	92,547	340 to 370 koz
Mined Grade						Reserve grade[2]
Gwalia	g/t	10.2	9.3	9.3	10.4	8.3
Simberi	g/t	1.35	1.18	1.26	1.05	1.3
Total Cash Operating Costs[1]
Gwalia	$/oz	587	638	609	580	n/a
King of the Hills4	$/oz	-	-	893	-	-
Simberi	$/oz	1,198	1,164	1,143	1,247	n/a
Consolidated	$/oz	757	792	768	763
All-In Sustaining Cost[1]
Gwalia	$/oz	770	836	783	774	850 to 910
King of the Hills4	$/oz	-	-	964	-	-
Simberi	$/oz	1,404	1,266	1,293	1,359	1,330 to 1,490
Consolidated	$/oz	947	960	933	935	985 to 1,075

1. Non-IFRS measure, refer Appendix.

2. Ore Reserve grade at 30 June 2016, refer Ore Reserve and Mineral Resources Statement (released 23 August 2016)

3. FY17 guidance announced in Q4 June 2016 quarterly report (released 19 July 2016)

4. King of the Hills ceased mining in April 2015 and ceased processing in September 2015. It was sold in October 2015 (refer ASX announcement 16 October 2015).

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Gender Diversity
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• The overall pay equity gap at St Barbara reduced from 43% in 2007 to 16% in 2016 (compared to 23% nationally and 16% for the mining industry[1] )

• Nil gender pay gap in ‘like-for-like’ roles[2]

• Bob Vassie, MD & CEO, appointed in 2014 as one of 32 CEO Ambassadors of the Workplace Gender Equality Agency pay equity campaign

• Certified by WGEA as an Employer Of Choice For Gender Equality 2014 & 2015, one of three resources companies currently certified

• WGEA Australia’s gender equality scorecard Nov 2016, www.wgea.gov.au/sites/default/files/2015-16-gender-equality-scorecard.pdf ,

33 / 33 / Annual General Meeting 30 November 2016

1. Refer St Barbara Corporate Governance Statement for details, www.stbarbara.com.au/about_us/governance

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People
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• St Barbara was selected as a finalist in the Australian HR Awards 2016 in the category ’Best Health & Wellbeing Program ’

• In PNG, St Barbara has facilitated and supported:

• a domestic violence prevention ‘Warrior’ program in conjunction with domestic violence leave guidelines, and

• a Gender Smart Safety Project , delivering robust and

• sustainable gender-smart safety management and practice.

• St Barbara is Platinum sponsor ‘ Get into resources ’, an initiative in WA secondary schools

• WGEA Gender pay gap statistics March 2016,

34 34 / Annual General Meeting 30 November 2016

www.wgea.gov.au/sites/default/files/Gender_Pay_Gap_Factsheet.pdf

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Australian Gold Mining in context
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“Rush: Australia’s 21[st] Century Gold Industry”

• Tells the story of Australia’s worldleading gold industry and the ongoing contribution it makes to Australia's economic and social

• Published by Minerals Council of Australia and the Chamber of Minerals and Energy WA

• View at: http://bit.ly/mcagoldbook

35 / Annual General Meeting 30 November 2016

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St Barbara share price vs US$ gold and XGD - % change
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700%
Top performing stock in the ASX 200 in FY2016 [2]
600%
Joined ASX 200
500%
Top performing stock in the
ASX 300 in CY2015 [1]
400%
Joined ASX 300
300%
SBM 279%
200%
100%
XGD 62%
A$ gold 4%
0%
US$ gold 0%
-100%
1 Jul 15 1 Oct 15 1 Jan 16 1 Apr 16 1 Jul 16 1 Oct 16
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1. http://www.asx.com.au/education/investor-update-newsletter/201601-making-money-this-year.htm 2. www.mywealth.commbank.com.au, 1 July 2016.

Source: IRESS to close 25 Nov 2016

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Cash and Debt FY15 to December 2016
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Debt, Cash Balance & Contribution from Operations (FY15 to present, USD/AUD millions)

420 AUD Debt[2,3 ] 390 367 358 347 325 325 325 USD 299 Debt[2 ] 320 312 271 311 249 248 229 AUD Net Debt[5 ] 270 216 243 189 168 169 199 154 134 115 108 Cash balance[1 ] 100 137 77 128 70 114 56 92 70 69 80 71 69 83 53 57 40 10 32 Cash Contribution[4 ] 15 FY15 FY15 FY15 FY15 FY16 FY16 FY16 FY16 FY17 FY17 Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Cash Contribution Cash balance USD Debt AUD debt AUD Net Debt

Figures from corresponding quarterly reports. 1.Excluding restricted cash 2.A$/US$ exchange rates per Reuters 3.A$ equivalent excl. transaction costs

1. Non-IFRS measure, cash contribution as per cash movement table in Quarterly Reports

2. Net Debt = AUD debt less cash balance

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Ore Reserves Summary as at 30 June 2016
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Project	Proved	Proved	Proved	Probable	Probable	Probable	Total	Total	Total
	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz
Gwalia (WA)	2,286	9.6	702	4,510	7.6	1,105	6,795	8.3	1,808
Tower Hill (WA)	-	-	-	2,572	3.7	306	2,572	3.7	306
Simberi Oxide (PNG)	4,687	1.3	194	9,407	1.3	381	14,094	1.3	576
Simberi Sulphide (PNG)	154	3.0	14	13,402	3.0	1,307	13,556	3.0	1,321
Total All Projects	7,127	4.0	910	29,891	3.2	3,099	37,017	3.4	4,011

Notes

1. Ore Reserves are based on a gold price of Gwalia (A$1,350/oz), Tower Hill (A$1,250/oz), Simberi (US$1200/oz)

2. Mineral Resources are reported inclusive of Ore Reserves.

3. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding.

4. Details relating to each of the estimates are contained in the 2016 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/

Competent Person Mr Tim Richards is entitled to participate in St Barbara’s long term incentive plan, details of which are included in the 2016 directors’ and Financial Report released to the ASX on 23 August 2016. Increase in Ore Reserves was one of the performance measures under that plan until 30 June 2016. No incentive was paid in financial year 2016 under this performance measure.

Full details are contained in the ASX release dated 23 August 2016 ‘Ore Reserves and Mineral Resources Statements 30 June 2016’ available at www.stbarbara.com.au.

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Mineral Resources Summary as at 30 June 2016
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Project	Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz
Gwalia (WA)	4,951	7.7	1,232	11,773	6.8	2,584	570	4.4	80	17,294	7.0	3,896
Tower Hill (WA)	-	-	-	4,604	3.9	574	489	3.3	51	5,093	3.8	625
Simberi Oxide (PNG)	6,817	1.1	232	16,686	1.0	532	5,925	1.0	187	29,428	1.0	951
Simberi Sulphide (PNG)	1,583	1.2	58	46,382	1.7	2,543	19,885	1.6	1,003	67,850	1.7	3,607
Total All Projects	13,351	3.5	1,522	79,445	2.4	6,233	26,869	1.5	1,321	119,665	2.4	9,079

Notes

1. Mineral Resources are reported inclusive of Ore Reserves

2. Cut-off Grades Leonora: Gwalia Deeps (2.5 g/t Au), Tower Hill (2.5 g/t Au), Simberi Oxide (0.4 g/t Au), Simberi Sulphide (0.6 g/t Au)

3. Simberi Mineral Resources are reported constrained by a US$1,800/oz pit shell

4. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding.

5. Details relating to each of the estimates are contained in the 2016 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/

Full details are contained in the ASX release dated 23 August 2016 ‘Ore Reserves and Mineral Resources Statements’ 30 June 2016’ available at www.stbarbara.com.au.

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Strong institutional share register
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Shareholding Structure

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Not analysed
Institutional USA 39%
10%
83%
Non Australia
Institutional 28%
7%
UK 14%
Other 8%
Not analysed
11%
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Analysis and geographic spread of shareholders as at 15 Oct 2016

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Significant Shareholders & wide broker coverage
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Significant Shareholders[1 ]

Research Coverage

Van Eck Associates	17%
M&G Investment Mgt	8%
Hunter Hall Investments	6%
Vinva Investment Mgt	5%
Institutional Shareholders2	83%
Shares on issue	497M
Approved Depositary Receipts (ADR) are
trading in USA through BNY Mellon
(ADR OTC Code ‘STBMY’)

Argonaut James Wilson Canaccord Reg Spencer Credit Suisse Mike Slifirski Deutsche Bank Matt Hocking Global Mining David Cotterell Research Macquarie Ben Crowley

1. As notified by substantial shareholders to 25 Nov 2016 2. As at 15 Oct 2016

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Board of Directors
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Tim Netscher Chairman– Non Executive

Appointed Director February 2014 Appointed Chainman July 2015

Mr Netscher is an experienced international mining executive with extensive operational, project development, and transactional experience and expertise in senior executive management roles. Mr Netscher’s experience covers a wide range of resources including nickel, coal, iron ore, uranium and gold and regions including Africa, Asia and Australia. Mr Netscher is a director of ASX listed Gold Road Resources Limited and Western Areas Limited.

Bob Vassie Managing Director and CEO

Appointed July 2014

Mr Vassie is a mining engineer with over 30 years international mining industry experience, including 18 years with Rio Tinto in a range of senior management roles. He has particular experience in operations management, resource development strategy, mine planning, feasibility studies, business improvement, corporate restructuring, and strategic procurement.

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David Moroney Director– Non Executive

Appointed March 2015

Mr Moroney is an experienced finance executive with more than 20 years’ experience in senior corporate finance roles, including 15 years in the mining industry, and extensive international work experience with strong skills in finance, strategic planning, governance, risk management and leadership.

Mr Moroney is an independent non-executive director of non-ASX listed Geraldton Fishermen’s Co-operative Ltd and WA Super, Western Australia’s largest public offer superannuation fund.

Kerry Gleeson Director– Non Executive

Appointed May 2015

Ms Gleeson is an experienced corporate executive with over 20 years boardroom and senior management experience across Australia, UK and the US, in a variety of industries including mining, agriculture, chemicals, logistics and manufacturing. A qualified lawyer in both UK and Australia, she has significant expertise in complex corporate finance and transactional matters, and in corporate governance in Australian and international businesses.

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Executive Leadership Team
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Bob Vassie

Managing Director and CEO

Appointed 2014

Mr Vassie is a mining engineer with over 30 years international mining industry experience, including as Managing Director and CEO of Inova Resources Limited (formerly Ivanhoe Australia Limited) and 18 years with Rio Tinto in a range of senior management roles.

He has particular experience in operations management, resource development strategy, mine planning, feasibility studies, business improvement, corporate restructuring, and strategic procurement.

Garth Campbell-Cowan Chief Financial Officer

Joined 2006

Garth is a Chartered Accountant with 30 years experience in finance and management positions across a number of different industries. Garth is responsible for the Group’s Finance function, covering financial reporting and accounting, treasury, taxation, business analysis, capital management, procurement and information technology.

Prior to joining St Barbara, he was Director of Corporate Accounting at Telstra and has held senior finance leadership roles with WMC, Newcrest Mining and ANZ.

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Competent Persons Statement
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Exploration Results

The information in this presentation that relates to Exploration Results for Simberi and Pinjin is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara 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’. Dr Mustard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this presentation that relates to Exploration Results for Gwalia and the Leonora region is based on information compiled by Mr Robert Love, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Love is a full-time employee of St Barbara 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 Love consents to the inclusion in the report 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 2016’ released to the Australian Securities Exchange (ASX) on 23 August 2016 and available to view at www.stbarbara.com.au and for which Competent Persons’ consents were obtained. Each Competent Person’s consent 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 23 August 2016 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.

Competent Person Tim Richards is entitled to participate in St Barbara’s long term incentive plan, details of which are included in the 2016 Directors’ and Financial Report released to the ASX on 23 August 2016

Full details are contained in the ASX release dated 23 August 2016 ‘Ore Reserves and Mineral Resources Statements 30 June 2016’ available at www.stbarbara.com.au.

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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).

All-In Sustaining Cost

• All-In Sustaining Cost is based on Cash Operating Costs, and adds items relevant to sustaining production. It includes some, but not all, of the components identified in World Gold Council’s Guidance Note on Non-GAAP Metrics - All-In Sustaining Costs and All-In Costs (June 2013).

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 2016 Financial Report (p3) for details, available at www.stbarbara.com.au

Underlying net profit/(loss) after tax

• Net profit after tax excluding identified significant items

• Refer 2016 Financial Report (p3) for details, available at www.stbarbara.com.au

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Investor Relations Enquiries
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Rowan Cole Company Secretary

Garth Campbell-Cowan Chief Financial Officer

T: +61 3 8660 1900

E: info@stbarbara.com.au

46 / Annual General Meeting 30 November 2016