ST BARBARA LIMITED — AGM Information 2017

Nov 28, 2017

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ASX Release / 29 November 2017
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Presentations to 2017 Annual General Meeting and audio webcast

Attached are the Chairman’s address and the Managing Director and CEO’s presentation to the 2017 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 Alistair Reid Manager Investor Relations +61 3 8660 1959 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 +61 3 8660 1999 ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

2017 Annual General Meeting

Chairman’s Address to Shareholders

Introduction

Good morning ladies and gentlemen and welcome to St Barbara’s 2017 Annual General Meeting. It has been a successful year for the Company and I am pleased to share with you some of the recent highlights as well as update you on our strategy and outlook for the Company.

Operational Excellence

In 2017 we set a number of records as the result of our continued operational discipline. On a continuing operations basis, annual consolidated production was a record at 381,101 ounces of gold, up from 377,452 ounces in the previous year. All-In Sustaining Costs were a record low A$907/oz, down 3% on the prior year. Importantly, we had record safety performance in the year, with a Total Recordable Injury Frequency Rate of 1.2 per million hours worked. This is well below the industry benchmark.

It was a year of doing what we said we would do, with both the Gwalia and Simberi operations achieving or exceeding guidance on all the key performance metrics.

We also set a record for cash flow from operating activities of $303 million. This allowed us to repay all our debt during the year and we became debt free in

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March 2017. Our cash position continues to build, and as at 30 September 2017, we had $199 million cash at bank, after having paid our first dividend since 1995.

I am sure you will agree that the operational and financial transformation of the Company over the past three years has been remarkable. What’s more, we are now very well placed to consider how we want to grow the business in the future. I will make some general comments about this in my address, but I will leave it to Bob Vassie to update you in a moment with more detail on our pipeline of growth initiatives, headlined by our Gwalia Extension Project.

Of course, the fantastic turnaround of the Company has meant that the Board is now in a position to consider how best to return any excess cash to shareholders. I am pleased to say that the Board declared a 6 cents per share fully franked dividend in respect of the 2017 financial year which was paid in September. It was also pleasing that almost 20 percent of shares participated in the Dividend Reinvestment Plan that we announced in conjunction with the dividend.

The Board’s policy on dividends was announced in conjunction with the dividend in August. To re-cap, the payment of dividends will be considered by the Board at each financial reporting date. The amount of dividend to be declared at any time will be influenced by underlying financial performance and cash flow, commodity price expectations, balance sheet and treasury risk management, working capital needs and competing internal and external investment opportunities necessary for renewal and future growth. To the extent the Company has franking credits, it will look at distributing them to shareholders.

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The Board expects to provide an update on dividends with the first half 2018 financial results in February next year.

The St Barbara culture

I think it is worth exploring at this point what I believe to be the driving force behind the Company’s transformation, and that is the culture and the people of our organisation.

Simplistically, culture manifests itself in how we do what we do, and on any measure, it has had a positive influence on outcomes over the last three years. Our culture is underpinned by our values and the tone is set by our leaders, namely our MD and CEO, his leadership team and the Board of Directors.

A key leadership requirement at St Barbara is to set high expectations, leading from the front by example and with absolute integrity. We have a performancedriven culture, supported by our diversity, engagement and talent development programs, ensuring that we fairly and ethically deliver our stretch goals.

An important part of our identity that we are very proud of, is our achievements in the area of gender diversity. We are proud to say that we have nil gender pay gaps in like-for-like roles. We have been a Workplace Gender Equality Agency “Employer of Choice” for the past three years and one of only three resources companies to be certified. As further recognition of our efforts in this area, at the recent national ‘Women in Resources’ awards in Launceston in August this

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year, we won the award for excellence in gender diversity programs and performance.

Our people champion causes that are close to their hearts, in particular supporting the communities in which the company operates and where we live.

At Simberi, we support the community through the provision of critical infrastructure and community services and well as our financial contribution to landowner businesses.

At Leonora, our support for the local community extends across sponsorship of athletic and sporting events to education programs at the Leonora primary school and local apprenticeship programs.

But it is not just a question of financial sponsorship: we ensure that our management and staff actively engage with our communities, working together to deliver what our communities genuinely need rather than what we think they need.

We strongly believe that the engagement and support of our people is essential to our operational and financial success. One way to measure the success in engaging our employees is employee retention. On this front, I am delighted to report that our annual employee turnover rates have been consistently better than the Australian resources industry average over the past three years.

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I am also pleased to say that whenever I engage with our employees on our sites, I detect an attitude of pride in belonging and a desire to continuously improve and indeed to excel.

Strategy and outlook

Turning now to our strategy and the outlook for the Company. The continued focus of the Board is to ensure that St Barbara will be a reliable, sustainable and highly profitable company in the long term. I believe we have an exciting pipeline of organic growth initiatives underway which support that vision.

Our key focus currently is the $100 million Gwalia Extension Project which commenced in March 2017 and is expected to take two and a half to three years to complete. The main parts of the Project are two new ventilation shafts and the underground crushing of waste mixed with paste to fill emptied stopes. The Project will ensure that Gwalia can continue delivering strong, high-margin gold production until at least 2024, with the foundation laid for further extensions to the mine life beyond this, as well as potential for increased production.

We also have an active deep drilling program at Gwalia which has extended our mineral resource to 2,200 metres below surface. This deep drilling, along with infill and intermediates drilling at higher levels, has enabled us to increase overall resources and reserves. Our reserves at Gwalia have increased by 325,000 ounces to 2.1 million ounces at an average grade of 7.8 g/t Au and our resources have increased by 1.2 million ounces to 5.0 million ounces at an average grade of 6.7 g/t Au. These increases are net of mining depletion.

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We have also been doing some exciting work with a 3D seismic reflection program in the Gwalia area. The survey aims to identify extensions to the lode system and other potential occurrences of Gwalia-style mineralisation. Our analysis of the results is ongoing, but we have identified structures that will help inform drill targets which we expect to commence exploring later this financial year.

At Simberi, our improved operational performance has enabled us to increase ore reserves and allowed us to extend the mine life a further one year out to 2020. I think you’ll agree the recent results at Simberi and the prospect of a longer mine life vindicate the Company’s decision to retain the operating assets, following the completion of the Simberi Strategic Review in 2016. In fact, in the last 12 months alone, Simberi has delivered a cash contribution of more than $73 million to the Company.

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

Lastly, we have some promising regional exploration programs in both WA and New South Wales and after appropriate due diligence on a number of opportunities, we have made some strategic investments in companies with exciting exploration programs.

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With the Company in a strong financial position, we are also in a position to look at inorganic growth opportunities. We have a systematic and diligent evaluation process underway and we will consider sensible inorganic growth where it increases shareholder value.

Board composition

Finally, I would like to provide a brief update on the Board.

The Company has a small, dedicated Board of Directors. We believe that the Board is nimble and fit-for-purpose, with 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.

We have diverse views and backgrounds, which is conducive to open dialogue and robust and rigorous decision-making in keeping with modern corporate board dynamics.

The Board continues to recognise the requirement of balancing stewardship and entrepreneurship, as appropriate for a mid-cap mining company of our circumstances.

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In conclusion

In closing, I would like to congratulate our CEO, Bob Vassie, his Leadership Team and all those who work at St Barbara for their achievements in what has been a terrific year. I also extend my thanks to my fellow Directors, Kerry, David and Bob, for their ongoing commitment to the Company. Finally, to our shareholders, I thank you for your continued support.

I would now like to ask Bob to provide some further detail about our performance and the growth initiatives currently underway.

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BOB VASSIE, MANAGING DIRECTOR & CEO / 29 November 2017
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2017 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.

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Contents
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• Safety

• FY17 Highlights

• FY18 Outlook

• Growth initiatives

• Conclusion

• Appendices

Photo: Starting shift, Gwalia, Scott Thomas

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TRIFR safety record
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Total Recordable Injury Frequency Rate[1]

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6.0
5.0
4.1
2.1
1.2
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FY 13 FY 14 FY15 FY16 FY17

• Record low TRIFR[1] of 1.2

Gwalia Emergency Response Team (ERT) training exercise.

1. Total Recordable Injury Frequency Rate per million hours worked (12 month avg).

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FY17 key achievements
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Operational excellence

• Record safety performance of 1.2 TRIFR[1]

• Record consolidated annual production[2] & record low AISC[3]

• Achieved or exceeded guidance at both operations

Record results

• Record cash flow from operating activities$303 M (FY16: $243 M)

• Record profitability: underlying NPAT[3] $160 M (FY16: $127 M)

• A$228 M debt repaid during year (FY16: $142 M)

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Capital
management
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• 61% underlying return on capital employed[3]

• Debt free[4] , $161 M cash @ June 2017 ($199 M @ Sep 2017)

• 6 cents per share fully franked dividend in respect of FY17

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Growth
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• Gwalia A$100 M extension project commenced, Resources & Reserves increased

• Simberi oxide mine life extended

• A$16-20 M exploration programme in WA, NSW and PNG

• Systematic evaluation of inorganic growth opportunities

• 1.Total Recordable Injury Frequency Rate (12 month average) per million hours worked 2.From continuing operations

• 3.Non-IFRS measure, refer to corresponding slide in Appendix

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4.No interest bearing debt except for equipment leases amounting to A$0.5 M.

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FY17 Key Financial Metrics
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50
EBITDA margin % 1,3
47
3 64
Gwalia EBITDA margin %
60
32
EPS (basic, cents)
26
61
ROCE (%) 1,3
48
DPS (cents) 6
2,3
Dividend yield (%) 2.1
FY17 FY16
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1. Underlying, see page 3 2017 Financial Report

2. On share price as at 30 June 2017 of $2.91 3.

2017 Annual General Meeting Presentation

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Segment profit and cash contribution from operations
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Reportable segment profit/ (loss) before tax[1]

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A$M
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220
198
139
51
34
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-3
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Cash contribution from operations[1, 2, 3]

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A$M
249
244
186
70
33
-33
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FY15 FY16 FY17
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FY15
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FY16 FY17
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Leonora Simberi

Leonora Simberi

1. Results for Leonora include King of the Hills (which ceased production in the September 2015 quarter) operating results, but exclude significant items relating to the King of the Hills sale.

2. Non-IFRS measure, refer to corresponding slide in Appendix.

3. Leonora contribution is before growth capex and deep drilling expenditure of $17 M (FY16: $9 M)

2017 Annual General Meeting Presentation

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Balance Sheet
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Cash and debt

Net Debt / Net Cash[1]

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A$M
A$M
199
Cash
200 200
160
Debt
161
98
137
100 100
Net Cash
79 77 31
0 0
-0.5
-15
-100 -100
-92
Net Debt
-134
-200 -200
-226
-199
-243
-300 -300 -270
-340
-347
-311 -312
-320
-400 -400
FY14 FY15 FY16 FY17 FY15 FY15 FY15 FY15 FY16 FY16 FY16 FY16 FY17 FY17 FY17 FY17 FY18
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FY15 FY15 FY15 FY15 FY16 FY16 FY16 FY16 FY17 FY17 FY17 FY17 FY18 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep

1. Non-IFRS measures, refer Appendix for details

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Total

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Reserves and Resources as at 30 June 2017
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Gwalia Reserves

• Increased by net 325 koz after depletion

• Lower average grade 8.3 to 7.8 g/t Au

• Cost of discovery at depth in FY17 $23/oz (FY16: $30/oz)

Gwalia Resources

Ore Reserves

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(Moz)
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4.3
4.0
1.4
1.3
0.5
0.6 0.3
0.3
2.1
1.8
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FY16

FY17

• Increased by net 1,191 koz

Gwalia Tower Hill Simberi Oxide Simberi Sulphide

Mineral Resources

• Lower average grade 7.0 to 6.7 g/t Au

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(Moz)
9.6
9.1
3.2
3.6
0.7
0.6
1.0
0.6
5.1
3.9
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Simberi R&R models reviewed

• Oxide mine life extended, grade maintained at 1.3 g/t Au

• Sulphide reserve increased by 81 koz to 1.4 Moz, grade increased from 3.0 to 3.5 g/t Au

FY16

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FY17
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Note: For full details refer to ‘Ore Reserves and Mineral Resources Statement 30 June 2017’.

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SBM share price
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				SBM share price vs	SBM share price vs	SBM share price vs	SBM share price vs	SBM share price vs	SBM share price vs	ASX All Ords Gold	ASX All Ords Gold	ASX All Ords Gold	Index	Index
3,500%
3,000%
																	2722%
2,500%
2,000%
1,500%
1,000%
500%
100%																	206%
0%
Jul	14	Jan		15	Jul	15		Jan 16			Jul	16	Jan 17		Jul	17
							SBM		ASX All Ords Gold			Index (XGD)

Source: IRESS 1 Jul 2014 to 24 Nov 2017 (weekly data), index rebased to 100 at 1 July 2014

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FY18 Outlook
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AISC [1]
1,464
(A$/oz)
1,320
1,293
Simberi
1,187
1,007 1,003
932 907 Consolidated
Gwalia
841 865
783 785
FY15 FY16 FY17 FY18F
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Gold Production koz (continuing operations)

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377 381
363
328
110 116
110
80
248 267 265 253
FY15 FY16 FY17 FY18F
Guidance
Gwalia Simberi mid-points
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1. Non IFRS measure, refer corresponding slide in Appendix

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Simberi Strategic Review – One year on
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• Decision to retain Simberi operating assets was the right one

• Cash contribution since the decision to retain the asset is $73 million

• Simberi well placed to achieve FY18 production and cost guidance

• 60 koz of forward contracts to be delivered monthly between December 2017 and June 2018 at an average price of A$1,728/oz

Quarterly cash contribution[1] from Simberi

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Decision to
retain
24 24
20
19
12
10
9
8
5 5
2
-4
-9
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18
A$ million
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1. Non-IFRS measures, refer Appendix for details

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Gwalia animation
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Animation of Gwalia underground mine available at https://youtu.be/e7slJIjDLtc

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Gwalia Extension Project update – on schedule
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• Project includes new ventilation shafts and underground crushing of waste, mixed with paste to fill emptied stopes

• Budget of A$100 million, 2½ - 3 years construction period[1]

• FY18F capex of A$50 to A$55 million

• A$4M capex spent in Q1 FY18 – roads, drilling, engineering, underground development, raisebore site preparation, all ongoing in Q2 FY18

• Study with RUC for simultaneous shaft construction, potential for acceleration of project schedule

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1. Details contained in ASX announcement 27 March 2017 ‘Gwalia Extension Project approved’. Project commenced Q3 Mar 2017.

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Exploration | Gwalia + Leonora Province Summary
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Gwalia Seismic Reflection Program

• The survey will aim to identify extensions to the lode system and other potential occurrences of Gwalia style mineralisation

• Analysis ongoing, positive indications of Gwalia-like systems to be targeted by drilling in H2 FY18.

Gwalia Deeps Extension – Resource drilling 2,000 to 2,200 mbs

• Previous Resource drilling extended Resources & Reserves in FY16 and FY17

• 2600 mbs drill hole to begin late Q2 FY18 (likely completed late Q3).

Horsepaddock Well , 15km north-west of Gwalia

• IP and SAM (Induced Polarisation and Sub-Audio Magnetic) exploration commencing in Q2 FY18

• Potential for King of the Hills style granite-intrusive gold mineralisation.

For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Gwalia Seismic
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Gwalia Seismic Exploration

• Results analysis during H1 FY18

• Key geological features strongly reflective

• Early results indicate downward plunge below 2,500 mbs

• Inform drilling program

• Further seismic testing planned in Greater Gwalia

area

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For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Gwalia Deep + Intermediates Drilling Program
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For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Gwalia Deeps, Q1 results and FY18 target
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For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Summary of greenfields projects
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Back Creek, NSW

• A surface Gravity and Passive Seismic survey was completed in Q1 FY18

Pinjin, WA

• A 564 hole aircore drilling program 24,260 m was completed in Q1 FY18, testing 17 targets

• A 3,000 metre Reverse Circulation (RC) and a 10,000 metre aircore drill program is planned in Q2 FY18 to follow-up encouraging aircore results

• A surface electromagnetic survey is also planned to commence in Q2 FY18 to follow-up targets highlighted by the airborne electromagnetic (AEM) survey

Tatau Island, PNG

• Final results for the oxide/sulphide gold drilling program at Southwest Tatau were received[1]

• As part of option and farm-in with Newcrest, results continue to be received for the extensive surface sampling program focussing on identifying copper-gold porphyry drill targets

• The survey has identified 2 potential targets, with diamond drilling to commence in Q2 FY18

• For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Growth Pipeline
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Exploration Feasibility Construction Production

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Back
Creek
Pinjin Greater
Gwalia
Tower Gwalia
Catalyst Gwalia
Metals Peel Hill Extension Mine
7% Mining
11%.
Inorganic growth
Evaluating exploration, project, development and operating assets in a range of sizes in Australia and overseas
Simberi
Tabar Is Simberi
Mine
Group Sulphide
Cu-Au, OFA
with NCM [1]
Tabar Is
Group
Au
Australia
Overseas
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Projects owned 100%. St Barbara interest as noted.

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1. Option and Farm-in Agreement with Newcrest announced 14 November 2016

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Sustainability Report
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Sustainability Report

Sustainability Report topics

• Complements Annual Report and Corporate Governance Statement

Governance & Economic Performance

• Available on website at

• www.stbarbara.com.au/sustainability/ sustainability_report/

• Ethical business conduct with all stakeholders

• Manage for long term growth

Health & Safety

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• Safe work environment and practices

People

• Attract, retain, engage and develop workforce

• Diversity

Social & Communities

• Engage, respect and enhance

• Minimise adverse impact

Environment

• Emissions and incidents

• Waste management

• Energy efficiency

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Gender Diversity – National Excellence Award 2017
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• 2017 Winner Excellence in Diversity Programs and Performance, National Women in Resources Awards

• 2017 Winner Company Gender Diversity

Program , Victorian Women in Resources Awards

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Photo: Val Madsen, St Barbara General Manager Human Resources, accepts excellence award at National Women in Resources awards night in Launceston, Tasmania 31 August 2017.

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Winner ‘2017 Digger of the Year’ Award
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Diggers and Dealers awards presentation 9 Aug 2017 (L to R): Ian Murray, MD & CEO, Gold Road Resources Ltd ‘2017 Dealer of the Year’, Tim Netscher, Non-Executive Chairman of Gold Road Resources Ltd & St Barbara Ltd, Bob Vassie, MD & CEO, St Barbara Ltd ‘2017 Digger of the Year’

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Conclusion
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• FY17 another record year – safety, production, cash flow and low AISC

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• A$0.06 fully franked full-year dividend

• Awards for gender diversity, wellbeing programs and ‘Digger of the Year’

• At Gwalia, Resources increased by net 1.2 Moz, Reserves increased by net 325 koz

• Profitable growth options include:

• Gwalia extension project

• Simberi copper- gold porphyry exploration with Newcrest

• Debt free[1] and positioned to grow

• No interest bearing borrowings, except for equipment leases amounting to approx. A$0.3M. Cash balance includes $1.2M restricted cash.

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Summer Storms by Finlay Wilkinson, Leonora, Jan 2017

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Appendices
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Underground at Gwalia Oct 2017, L to R: Ashleigh Smythe, Graduate Geologist, Kerry Gleeson, Non-exec Director, Tim Netscher, Non-exec Chairman, David Moroney, Non-exec Director, Bob Vassie, MD & CEO, Darren Owen, Byrnecutt Bogger Operator, Andrew Walker, Underground Manager

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Consolidated Production, Costs, Guidance Summary
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Production Summary Consolidated Q3 Mar FY17 Q4 Jun FY17 Year FY17	Q1 Sep FY18	Guidance FY181
Production Gwalia oz 64,916 62,098 265,057 Simberi oz 30,430 32,128 116,044	64,283 33,976	245 to 260 koz 105 to 115 koz
Consolidated oz 95,346 94,226 381,101 Mined Grade Gwalia g/t 11.3 9.2 10.7 Simberi g/t 1.14 1.21 1.13 Total Cash Operating Costs3 Gwalia A$/oz 582 668 592 Simberi A$/oz 944 1,048 1,092	98,259 10.7 1.21 621 964	350 to 375 koz Reserve grade 2 7.8 1.3 n/a n/a
Consolidated A$/oz 697 798 689 All-In Sustaining Cost3 Gwalia A$/oz 786 872 785 Simberi A$/oz 1,025 1,125 1,187	740 816 1,027	840 to 890 1,260 to 1,3804
Consolidated A$/oz 862 959 907	889	970 to 1,035

1. FY18 guidance announced in Q4 June 2017 quarterly report (released 26 July 2017)

2. Ore Reserve grade at 30 June 2017, refer Ore Reserve and Mineral Resources Statement (released 23 August 2017).

3. Non-IFRS measure, refer Appendix

4. US$995 to US$1,090 @ AUD conversion of 0.79 (per FY18 guidance released 26 July 2017)

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Corporate Overview
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ASX 200 (ASX: SBM), est. 1969	ASX 200 (ASX: SBM), est. 1969
Commodity	Gold (Au)
Market cap1	A$1.6B @ A$3.13/sh
Shares1	515 M
Liquidity2	3.4 M/day (0.7%)
FY17 EPS3	A$0.32
FY17 DPS	A$0.06
Cash4	A$199 M
Debt	Nil5
Ore Reserves (JORC)6	4.3 Moz
Mineral Resources6	9.1 Moz

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Papua Simberi Operations
New Guinea
Australia
Leonora Operations
(Gwalia mine)
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	Consolidated	Gwalia	Simberi
FY17	381 koz @ AISC7 A$907/oz	265 koz @ AISC A$785/oz	116 koz @ AISC A$1,187/oz
FY18F8	350 to 375 koz @ AISC A$970 to $1,035/oz	245 to 260 koz @ AISC A$840 to A$890/oz	105 to 115 koz @ AISC A$1,260 to A$1,380/oz

1. As at 24 Nov 2017. 2. 2 months to 24 Nov 2017, source IRESS. 3. Basic EPS. 4. 30 Sep 2017. 5. No interest bearing liabilities, except equipment leases totalling approx. A$0.5 million. 6. Refer ASX announcement titled ‘Ore Reserves and Mineral Resources Statement 30 June 2017’. Mineral Resources are reported inclusive of Ore Reserves. 7. Non IFRS measure, refer Appendix. 8. FY18 guidance in Q4 June 2017 Quarterly Report.

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FY17 actual vs guidance
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FY17 Actual vs guidance

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Production - Gwalia (koz) 245 265
265
260-265
Production - Simberi (koz) 95 105 105 110 116
AISC - Gwalia (A$/oz) 785 795 815 850850 910
1,285
AISC - Simberi (A$/oz) 1187 1,330 1,490
-1,330
80% 85% 90% 95% 100% 105% 110% 115% 120%
100% = initial guidance mid-point
Initial guidance Final guidance Actual
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Consolidated 1Q FY18 results
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AISC

(A$/oz)

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959
935
FY17 average A$907/oz 889
876
862
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Production (koz)

• Consolidated production of 98 koz (Q4 FY17: 94 koz)

• Gwalia 64 koz (Q4: 62 koz)

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99 98
93 95 94
28
25 30 32 34
67 71 65 62 64
FY17 FY17 FY17 FY17 FY18
Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep
Gwalia Simberi
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• Simberi 34 koz (Q4: 32 koz)

• Consolidated AISC[1] of A$889/oz (Q4: A$959/oz)

• Gwalia A$816/oz (Q4: A$872/oz)

• Simberi A$1,027/oz (Q4: A$1,125/oz)

Figures displayed to nearest koz. Reported ounces in Quarterly Report.

1. Non IFRS measure, refer corresponding slide in Appendix

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Gwalia Q1 FY18 results + FY18 guidance
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AISC (A$/oz)
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872
816
774 FY17 average A$785/oz 786
716
Mined Grade 11.9
11.3
(g/t Au)
10.7
10.4
9.2
FY17 average 10.7 g/t Au
Reserve grade 7.8 g/t Au [2]
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Mined Grade
(g/t Au)
10.4
Production (koz)
67.1
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70.9
67.1
64.9 64.3
62.1
FY17 FY17 FY17 FY17 FY18
Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep
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Q1 Production

• 64,283 oz (Q4 FY17: 62,098 oz)

• AISC[1] A$816/oz (Q4: A$872/oz)

• Mined grade of 10.7 g/t Au higher than expected due to the presence of high grade shoots

FY18 Guidance

• Production of 245 to 260 koz

• AISC of A$840 to A$890/oz

• Sustaining capex: A$35 to A$38 M

• Project activities impact in H1 FY18, PAF ramp up in late H2

Reported ounces in Quarterly Report.

1. Non IFRS measure, refer corresponding slide in Appendix

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Refer ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ released 23 August 2017

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Simberi Q1 FY18 results + FY18 guidance
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AISC (A$/oz)

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1,359
1,277
FY17 average A$1,187/oz 1,025
1,125
1,027
Production (koz)
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Q1 FY18 production

• Record 33,976 oz (Q4 FY17: 32,128 oz)

• AISC[1] A$1,027/oz (Q4: 1,125/oz)

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34.0
32.1
30.4
28.1
25.4
FY 17 FY 17 FY 17 FY 17 FY 18
Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep
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• Record mill through-put and improved recovery

FY18 guidance

• Production of 105 to 115 koz

• AISC A$1,260/oz to A$1,380/oz

• Capex of A$5 to A$7 million

• Non IFRS measure, refer corresponding slide in Appendix.

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Gwalia Deeps 1540 – 1580 lode schematic
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Reproduced from ASX release 25 September 2017 ‘Denver Gold Forum 2017’

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Exploration FY18 Guidance - A$16 to A$20 million
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• A$8 - A$10 million Gwalia

• Gwalia Deep Drilling infill + Intermediates

• Gwalia Seismic

• A$4 - A$5 million Pinjin WA • Aircore drilling of targets identified in FY17

• A$4 - A$5 million PNG

• Simberi Oxides/Sulphides

• • Tatau Oxides/Sulphides

• Option and farm in with Newcrest

• Copper-gold porphyry program continuing

For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Gwalia, Q1 FY18 results
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For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Gwalia, Q1 FY18 results
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For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Pinjin, Q1 FY18 results
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For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Tabar Island group, PNG, Q1 FY18
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Tatau Island

• Diamond drill program completed at Mt Tiro, Nepewo, Mt Siro and Seraror ( Southwest Tatau)

• Newcrest Option and Farm-in Surface (soil and rock chip) sampling program ongoing

• Copper-Gold and Copper-Molybdenum drill targets identified

For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Tatau Island, PNG, Q1 FY18
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Copper-gold porphyry exploration Newcrest Option and Farm-in

• Surface (soil and rock chip) sampling program ongoing

• Talik North prospect identified as priority drill target

• Subject to access, diamond drilling to commence in Q2 FY18

• Other prospects identified include Kupo

For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Exploration | Horsepaddock Well – Leonora province
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Q2 FY18 commencing geophysical surveys at Horsepaddock Well

• Previous exploration to 2006 highlighted potential for a granite-intrusive type of deposit under ultramafics

• Recent improvements in the depth penetration of IP and SAM (Induced Polarisation and Sub-Audio Magnetic) make these potentially effective techniques for targeting disseminated sulphides 100m – 200m deep, typical of deposits in the Province

For full explanation and results refer to ASX release 17 October 2017 ‘Quarterly Report September 2017’

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Ore Reserves Summary as at 30 June 2017
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Project	Proved	Proved	Proved	Probable	Probable	Probable	Total	Total	Total
	Tonnes ('000)	Gold (g/t)	Ounces ('000)	Tonnes ('000)	Gold (g/t)	Ounces ('000)	Tonnes ('000)	Gold (g/t)	Ounces ('000)
Gwalia, (WA)	2,308	9.8	725	6,248	7.0	1,408	8,556	7.8	2,133
Tower Hill, (WA)	-	-	-	2,572	3.7	306	2,572	3.7	306
Simberi Oxide, (PNG)	3,294	1.4	153	7,613	1.3	319	10,907	1.3	472
Simberi Sulphide, (PNG)	245	3.2	25	12,291	3.5	1,307	12,537	3.5	1,402
Total All Projects	5,847	4.8	903	28,724	3.6	3,340	34,572	3.9	4,312

Notes

1. Ore Reserves are based on a gold price of: Gwalia (AU$1,350/oz), Tower Hill (AU$1,250/oz), Simberi (US$1,200/oz)

2. Cut-off Grades Gwalia (4.0g/t Au), Tower Hill (2.8g/t Au), Simberi Oxide (0.5g/t Au), Simberi Sulphide (1.1g/t Au)

3. Mineral Resources are reported inclusive of Ore Reserves.

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 2017 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 2017 ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ available at www.stbarbara.com.au.

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Mineral Resources Summary as at 30 June 2017
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Project	Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Tonnes ('000)	Gold (g/t)	Ounces ('000)	Tonnes ('000)	Gold (g/t)	Ounces ('000)	Tonnes ('000)	Gold (g/t)	Ounces ('000)	Tonnes ('000)	Gold (g/t)	Ounces ('000)
Gwalia, (WA)	5,045	7.8	1,265	14,877	6.4	3,042	3,831	6.3	780	23,753	6.7	5,087
Tower Hill, (WA)	-	-	-	4,604	3.9	574	489	3.3	51	5,093	3.8	625
Simberi Oxide, (PNG)	4,056	1.3	164	12,313	1.1	427	4,919	1.0	152	21,288	1.1	744
Simberi Sulphide, (PNG)	836	1.7	45	41,005	1.9	2,471	12,676	1.6	663	54,517	1.8	3,179
Total All Projects	9,937	4.6	1,474	72,799	2.8	6,514	21,915	2.3	1,646	104,651	2.9	9,635

Notes

1. Mineral Resources are reported inclusive of Ore Reserves

2. Cut-off Grades Gwalia (2.5g/t Au), Tower Hill (2.5g/t Au), Simberi Oxide (0.4g/t Au), Simberi Sulphide (0.6g/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 2017 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 2017 ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ available at www.stbarbara.com.au.

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Predominantly institutional share register
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Australia
Not analysed 34%
Institutional
10%
85%
USA 30%
Non
Institutional
5%
UK 17%
Other 11%
Not analysed 8%
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Data as at 15 Nov 2017

2017 Annual General Meeting Presentation

42 /

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Substantial shareholders and broker coverage
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Substantial Shareholders[1]

Broker Research Coverage

Van Eck	9.7%
M&G Investment Mgt	6.3%
Vinva	5.2%
Institutional Shareholders 2	85%
Shares on issue	515M
American Depositary Receipts	(ADR)
trade in USA through BNY Mellon
(ADR OTC Code ‘STBMY’)

Argonaut James Wilson Canaccord Reg Spencer Citi Trent Allen Credit Suisse Mike Slifirski Deutsche Bank Matthew Frydman GMR David Cotterell JP Morgan Mathew Hocking Macquarie Ben Crowley

1. As notified by substantial shareholders to 24 November 2017 2. As at 14 November 2017

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Board of Directors
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Tim Netscher Chairman– Non Executive

Appointed Director February 2014 Appointed Chairman 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.

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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. Mr Vassie is a non-executive director of Tawana Resources NL.

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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, WA Super (Western Australia’s largest public offer superannuation fund) and Hockey Australia Ltd.

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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. Ms Gleeson is a NonExecutive Director of Trinity College, University of Melbourne.

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Executive Leadership Team
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Bob Vassie

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Garth Campbell-Cowan

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Rowan Cole

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Val Madsen

Managing Director and CEO

Chief Financial Officer

Company Secretary

GM Human Resources

Appointed 2014

Joined 2006

Joined 2010

Joined 2013

Mr Vassie is a mining engineer with over Mr Campbell-Cowan is a Chartered 30 years international mining industry Accountant with 30 years experience in experience, including as Managing Director finance and management positions across and CEO of Inova Resources Limited a number of different industries. He is (formerly Ivanhoe Australia Limited) and responsible for the Group’s Finance 18 years with Rio Tinto in a range of senior function, covering financial reporting and management roles. accounting, treasury, taxation, business analysis, capital management, He has particular experience in operations procurement and information technology.

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

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.

Mr Cole joined St Barbara in 2010 as General Manager Corporate Services and was appointed Company Secretary in 2014. He has over 30 years’ experience across chartered accounting, retail banking, private and public companies.

Mr Cole's experience includes external, internal and IT audit, strategy formulation, execution and measurement, process and business improvement, marketing, financial services, head of risk and compliance, chief audit executive and chief financial and risk officer.

Ms Madsen joined St Barbara in September 2013. Ms Madsen leads the Human Resources Function covering recruitment, remuneration and benefits, talent management, employee relations and wellbeing, diversity and training and development. Val is a member of AMMA’s AWRA Advisory Board and Chair of the Minerals Council of Australia’s Gender Diversity Working Group.

With a Masters in Education and a number of other business qualifications and accreditations, Val has enjoyed a diverse career in Human Resources.

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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 2017’ released to the Australian Securities Exchange (ASX) on 23 August 2017 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 2017 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.

Full details are contained in the ASX release dated 23 August 2017 ‘Ore Reserves and Mineral Resources Statements 30 June 2017’ 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.	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.
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). Refer most recent quarterly report available at www.stbarbara.com.au for example
Cash contribution	Refer cash movements table in Finance section of corresponding Quarterly Report. It is the sum of ‘operating cash flow’ from individual operations, net of sustaining capital expenditure. Refer most recent quarterly report available at www.stbarbara.com.au for example
Cash operating costs	Calculated according to common mining industry practice using The Gold Institute (USA) Production Cost Standard (1999 revision). Refer most recent quarterly report available at www.stbarbara.com.au for example
Dividendyield	Dividend÷shareprice
EBIT	Earnings before interest revenue, finance costs and income tax expense.
EBITDA	EBIT before depreciation and amortisation.
EBITDA margin	EBITDA÷Revenue
Net-cash	Net-cash is equivalent to cash and cash equivalents less current and non-current interest bearingborrowings
Net-debt	Net-debt is equivalent to current and non-current interest bearingborrowings less cash and cash equivalents
NPAT	Net profit after income tax expense
ROCE	‘Return on capital employed’ is calculated as EBIT before significant items expressed as a percentage of average total capital employed (net debt and total equity). Refer 2017 Financial Report (p30) for details
Significant Items	Items whose nature or amount is considered material to the financial report. Refer Note 3 of 2017 Financial Report (p48) for details
Underlying EBITDA / NPAT / ROCE	EBITDA, NPAT or ROCE after excluding identified significant items. Refer 2017 Financial Report (p3) for details.
2017 Financial Report	Refer 2017 Financial Report available atwww .stbarbara.com.au

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Investor Relations Enquiries
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Rowan Cole
Company Secretary
T: +61 3 8660 1900
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Alistair Reid
Manager Investor Relations
E: info@stbarbara.com.au
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St Barbara Board and executive June 2016 at Simberi. L to R: Garth Campbell-Cowan (CFO), David Moroney (Non-Executive Director),
Bob Vassie (MD&CEO), Tim Richards (GM Simberi), Kerry Gleeson (Non-Executive Director), Wayne Schiller (Simberi Ops Manager) and Tim Netscher
(Non-Executive Chairman)
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