ST BARBARA LIMITED — AGM Information 2018

Oct 23, 2018

Presentations to 2018 Annual General Meeting and audio webcast

Attached are the Chairman's address and the Managing Director and CEO's presentation to the 2018 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 David Cotterell	Manager Investor Relations	+61 3 8660 1900	ASX: SBM
Media Relations	Mr Tim Duncan	Hinton & Associates	+61 3 9600 1979	ADR: STBMY
St Barbara LimitedACN 009 165 066	Level 10, 432 St Kilda Road, Melbourne VIC 3004Locked Bag 9, Collins Street East, Melbourne VIC 8003		T +61 3 8660 1900 F +61 3 8660 1999W www.stbarbara.com.au

2018 Annual General Meeting

Chairman's Address to Shareholders

Introduction

Good morning ladies and gentlemen and welcome to St Barbara's 2018 Annual General Meeting. The 2018 financial year has been another highly successful year in which the Company has built on the achievements in 2017 and set new records.

Another record year

2018 represents St Barbara's fourth consecutive annual record for profit, production and costs. Consolidated production for 2018 was just over 403,000 ounces of gold (up from 381,101 ounces of gold in 2017), while All-in Sustaining Costs1 were also a new record low of A$891 per ounce (down from A$907 per ounce in 2017).

On safety, our Total Recordable Injury Frequency Rate of 2.1 recordable injuries per million hours worked represents a slight increase compared to last year, due to nine low severity recordable injuries. However minor, we do not like any recordable injury and so we continue to strive to eliminate these. We are pleased that our comparable Lost Time Injury Frequency Rate remains well below the industry benchmark.

Operationally, both Gwalia and Simberi exceeded guidance for 2018, leading to a new record operating cash flow of A$349 million, being 10% higher than 2017. Cash and cash deposits at 30 September 2018 totalled A$350 million, a 76% increase from this time last year.

1 Non-IFRS measure, refer details page 5, 2018 Annual Report.

The Company is in a strong financial position, as we continue to execute on our organic growth projects and consider inorganic opportunities that will add value for shareholders. I will discuss some of our projects and our growth strategy later in this address.

The Company has demonstrated record financial performance over several years and now has a balance sheet which placesthe Company in a strong position to both grow and to return excess cash to shareholders.

Dividends

Shareholder often ask about dividends. As you are no doubt aware, the Company paid a total of 12 cents per share fully franked dividends for the 2018 financial year, double the total dividend paid for 2017.

The Board considers dividends at each financial reporting date, rather than adopting a fixed formula in advance. Dividends are one component of capital management, which seeks to maximise the value of the Company for shareholders. As you are aware, dividends combine with share price appreciation as part of total shareholder return.

We have published our dividend policy each time we have paid a dividend and it can be summarised as follows: the quantum of each dividend is considered after assessing all capital requirements, competing internal and external investment opportunities and the outlook for the Company. In the current volatile world, together with our risk management strategies, it is important for the Company's balance sheet to be sufficiently robust to withstand unexpected shocks which may come our way.

Growth initiatives and strategy

The strategy and growth outlook for St Barbara remain a key focus for the Board, and there are a number of organic growth initiatives underway.

At the Gwalia mine, the immediate focus is the A$100 million Gwalia Extension Project, which we commenced in March 2017 and which is approximately 50% complete. The first of the surface ventilation shafts is complete, with the second surface shaft underway. The paste aggregate fill component is due for completion in the March 2019 quarter, while the overall extension project is on track for delivery in the December 2019 quarter. The Extension Project allows the mine to produce until at least 2024, but will also enable potential future mine life extensions.

This leads to the Gwalia Mass Extraction Project, which was announced in February 2018. It considers a change in mining method and material handling below 1800 metres below surface and supports a revised Life of Mine Plan to 2031. The project is at Feasibility Study stage, which is due to be completed in the March 2019 quarter. Bob Vassie will speak to these more in his presentation.

A multi-faceted exploration program is underway at Gwalia. The deep drilling program at Gwalia has shown that the mineralisation extends to at least 2,600 metres below surface, which is almost 1 km vertically below our current mining infrastructure, and 400 metres deeper than the base of our current mineral resource. Last week in our quarterly report, we announced high-grade results from infill drilling at approximately 2,000 metres below surface, which need to be followed up with further drilling. These results help to increase our confidence in the orebody at that depth.

We have also been drilling exploration targets identified through the 3D seismic reflection program at Gwalia. The results were promising with the two drill holes intersecting mafic shearing similar to the Gwalia deposit, along with low grade gold mineralisation. We have identified a third target area for drilling in the current quarter.

The Board visited the Gwalia mine two weeks ago and we viewed first-hand the progress made on the Extension Project, including the paste-aggregate-fill infrastructure at 1,420 metres below surface. We were also provided with a technical update on the Gwalia Mass Extraction Project and exploration programs. I am personally excited with what we saw and I am impressed by the innovation and energy of the Gwalia team.

At Simberi, the outstanding performance in 2018 and an improved understanding of the orebody has led to a further one-year extension of mine life to 2021 after a record production year. The operation continues to deliver and posted a record A$34 million dollar cash contribution2 in the recent Q1 September FY19 quarter.

We have a number of significant exploration programs underway at Simberi and on the neighbouring islands of Tatau and Big Tabar. On Simberi we are focused on drilling for sulphide ore beneath the Sorowar pit, with the potential to progress the Sulphide Project on which we announced Pre-Feasibility Study results in 2016. Drilling results to date have been very encouraging and we expect the drill program to be complete in the March 2019 quarter.

There is also the potential for economic copper-gold porphyry-type mineralisation and, along with our joint venture partner Newcrest, we have drilled some deep holes on Tatau Island and are due to commence on Big Tabar Island soon.

We made several strategic investments in junior mining exploration companies over the last 18 months. These may be viewed as an extension of St Barbara's exploration expenditure, with each company having very promising projects.

Lastly, as I mentioned earlier, the Company's strong balance sheet allows us to consider inorganic opportunities. We have a valuation driven approach which has examined a number

2 Non-IFRS measure, refer details in Q1 Sep FY19 Quarterly Report.

of opportunities over the last 12 months, but we have yet to uncover a merger or acquisition that has survived our due diligence and made sense for shareholders. Going forward we will continue to apply the same disciplined approach. Having the discipline to walk away from a potentially value destructive transaction is at least as important as completing a good, valueaccretive transaction.

Culture, community and sustainability

I believe the culture of a company is directly reflected in its performance and its relationship with its immediate communities. I am extremely proud of the culture we have achieved within St Barbara and how it resonates across our operations and in the communities in which we operate. Bob Vassie as MD and CEO, together with the Executive Team and Operational Leadership Teams has built a strong culture, with the goal of delivering sustainable high performance.

We describe our culture as 'talented people who deliver extraordinary results'. This culture has resulted in the achievement of year-on-year records across the Company, but more importantly has built a sense of individual ownership. While delivering these record results, we have consistently adhered to our values, particularly in the fields of community relations, environmental stewardship and pro-active safety management.

At Simberi, the vision for the community is to support the growth of local businesses which will continue independently beyond the mining operation. This is separate to our substantial efforts in maintaining and developing infrastructure and community services across the island.

At Gwalia, we continue to support the local Leonora community through the sponsorship of athletic, sporting, education and community events. Recently we joined with Saracen to support the Shooting Stars netball program at the Leonora District High School. The Company also supports education programs and local apprenticeship programs.

St Barbara published its second Sustainability Report in conjunction with the Annual Report and it incorporates a number of developments. We responded to the Carbon Disclosure Project for the first time, became a supporter of the Extractive Industries Transparency Initiative and became a signatory to the United Nations Global Compact (UNGC). In addition, the report contains our first Communications on Progress on furthering the goals contained in the UNGC principles and we recognise the risk of climate change as defined in the Paris 2015 Climate Change Agreement.

Board appointment

Finally, I will provide an update on the Board. St Barbara's Board comprises a small, dedicated team, which we believe has had the necessary skills, expertise and experience appropriate for a mid-cap mining company, and has served us well in the turnaround delivered in recent years.

However, to enhance our existing collective skills and aligned with the future plans for the Company, I am pleased to announce the appointment of a fourth independent Non-Executive Director, taking the Board total to five Directors. This is also consistent with recommendations from some of our shareholders and proxy advisors.

I would like to extend a warm welcome to Stefanie Loader, who I introduced to you earlier and who will join the Board on 1 November.

Stef is a company director, geologist and former mining executive with experience in mining operations, mineral exploration and project development. In her 24-year executive career, Stef has worked in seven countries across four continents.

Stef is a Non-Executive Director of Clean TeQ Ltd, Deputy Chair of CatholicCare Wilcannia-Forbes Ltd, and advises organisations in the areas of leadership, strategy and regional economic development.

I am sure that Stef will prove to be a valuable addition to the St Barbara board and I look forward to her quickly stepping up to become a key player in our small, high performance team.

Conclusion

In conclusion, I would like to congratulate Bob Vassie, the Executive Leadership Team, all St Barbara employees and our contract partners for their dedication and hard work in contributing to another outstanding year.

I also extend my thanks to my fellow Directors, Kerry, David and Bob, for their ongoing commitment to St Barbara.

Finally, to our shareholders, thank you for your continued support and faith in your company, St Barbara Limited.

BOB VASSIE, MANAGING DIRECTOR & CEO / 24 October 2018

2018 Annual General Meeting Managing Director & CEO Presentation

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.

Q1 Sep FY19 = quarter to 30 Sep 2018 Q3 Mar FY19 = quarter to 31 Mar 2019

Q2 Dec FY19 = quarter to 31 Dec 2018 Q4 Jun FY19 = quarter to 30 June 2019

• Safety

• FY18 Highlights

• FY19 Outlook

• Growth & Exploration

• Diversity & Sustainability

• Conclusion

St Barbara Safety Focus – Start Safe, Stay Safe

Total Recordable Injury Frequency Rate1

Working at Heights - demonstration of required safety equipment and procedure at Gwalia plant June 2018

• 1. Total Recordable Injury Frequency Rate (12 month avg) = number of recordable injuries per million hours worked. 2. Industry Lost Time Injury Frequency Rate (LTIFR) data per 2016-2017 benchmarks, from:
• http://www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx LTIFR = Lost Time Injury Frequency Rate, the number of lost time injuries per million hours worked.

2018 Annual General Meeting Presentation 4 /

Operational
excellence

• FY18 Financial Highlights •Record annual production and record low AISC1 •Cornerstone Gwalia mine with Life of Mine Plan to FY31
  • •Simberi mine life extension to FY21

Financial performance

• •4th consecutive record profit, NPAT of A$227 M
• •EBITDA margin of 51%1
• •A$842/oz cash contribution1

Capital management

• •Debt free
• •A$343 M cash at bank and term deposits at June 20182 •A$0.12 fully franked dividend for FY18

Growth

• •Life of mine extension projects or studies at both mines

• •Broad range of exploration projects

• •A$21 M in equity investments

• 1. Non IFRS measure, refer corresponding slide in Appendix. EBITDA Margin calculated from page 4 of the 2018 Directors' and Financial Report. FY18 cash contribution ÷ FY18 ounces of gold sold reported page 4 of the 2018 Directors' and Financial Report.
• 1. Balance comprises A$226.4 M cash and A$116.2 M term deposits (maturing between October 2018 and January 2019).

Cash and cash deposits at FY18 of A$344M , no debt1

1. Amounts rounded to nearest $ million. Balance comprises A$226.4 M cash, A$116.2 M term deposits (maturing between October 2018 and January 2019) and A$1.4 M restricted cash.

2018 Annual General Meeting Presentation Source: Thomson Reuters 1 Jul 2015 to 22 October 2018 (daily data), index rebased to 100 at 1 July 2015. TSR on 10 day VWAP

Australian Gold Peer Comparison – NPAT and FCF1,2

• Gwalia and Simberi both delivered strong contributions to FY18 profitability
• St Barbara ranks favourably with Australian gold peers

• 1. Australian gold peers (market cap A$0.9B to A$5.9B) as at 22 Oct 2018. NPAT and production figures from company reports.
• 1. Macquarie Research Australian Gold Miners report published 17 Sep 2018 (with permission). Non-IFRS measure. Free cash flow (FCF) defined as operating cash flow minus capex, exploration and investments. Yield = FCF for FY18 ÷ market cap.

8 / 2018 Annual General Meeting Presentation

FY19 Outlook

AISC1 (A$/oz)

Gold Production koz (continuing operations)

Gwalia Animation

Animation of Gwalia underground mine available at https://youtu.be/xnnxRwKy6gk

Gwalia Extension Project Update – On Schedule

• Gwalia Extension Project (GEP) consists of two main components, a ventilation upgrade and paste aggregate fill (PAF)1
• Budget of A$100 M with planned completion in Q2 December FY201
• GEP on schedule and within budget, approximately 50% complete. A$50 M spent on project to date, inc. Q1 September FY19 expenditure of A$10 M
• Raise bore activities progressing to schedule, first surface shaft complete, second surface shaft reaming upwards2, first underground pilot hole underway
• Paste aggregate fill (PAF) completion due Q3 March FY19
• FY19F capex of A$55 to A$58 M

St Barbara Board and Executive Team in the 1420 PAF chamber, viewing PAF installation, October 2018

• 1. Details contained in ASX announcement 27 March 2017 'Gwalia Extension Project approved'. Project commenced Q3 Mar 2017. PAF involves mixing paste from surface with waste crushed underground to fill stope cavities.
• 1. Currently at 310 m of 906 m total

Exploration – Gwalia Deeps and Seismic Targets

Gwalia Deep Drilling

• Daughter holes GWDD16D and GWDD16E have been completed, intersecting the mine sequence between 1,940-2,000 mbs.
• Significant results include1:
  • o 6.0 m at 12.2 g/t Au
  • o 18.6 m at 10.3 g/t Au

Exploration – Gwalia Deeps and Seismic Targets

Gwalia Seismic Exploration

• Two hole drill program completed in June quarter showed shearing and alteration similar to the Gwalia deposit, with some gold mineralisation
• New seismic target identified further south of previous 2 targets.

2018 Annual General Meeting Presentation

14 / Simberi –Processing plant and Pigiput Bay in centre, Ropecon to left, heavy vehicle workshop to right. Photo taken from edge of Pigiput mining pit.

Simberi Strategic Review

• Decision in November 2016 to retain Simberi operating assets was the right one
• Cash contribution1 since the decision to retain the asset is A$160 million

Quarterly cash contribution from Simberi

Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep

Simberi Sulphide – Potential Long Life Mine Extension

Modelled ultimate pit shells1 with associated sulphide reserves

Distribution of 1.4 Moz Sulphide Reserve

1.4 Moz Sulphide Reserve @ 3.5 g/t Au,

3.1 Moz Sulphide Resource @ 1.8 g/t Au 2

• Focused exploration for sulphide ore underway to improve project economics

• Sorowar not drilled at depth previously

• Sorowar drill results to date indicate high grade sulphide gold present3

• 1. Taken from 2016 Simberi Sulphide PFS. PFS level of accuracy ±30%. For full explanation refer to Q3 March 2016 Quarterly Report released 19 April 2016.
• 1. Ore Reserves and Mineral Resources Statements 30 June 2018 released 27 August 2018
• 1. For full explanation and results refer to ASX release 17 October 2018 'Quarterly Report Q1 Sep FY19'

16 / 2018 Annual General Meeting Presentation

Exploration – Simberi Island, PNG, Q1 September FY19

Sorowar Pit

Best intersections include (all results downhole): 125SORDGC003: 33 m at 5.67 g/t Au from 55 m

165SORDGC013: 9 m at 6.42 g/t Au from 91 m

165SORDGC014:

7 m at 5.45 g/t Au from 157 m, EOH

L: Gwalia – deep drilling June 2018. R: Simberi – Cu-Au Porphyry drilling at Pigiput, Simberi Island, August 2018.

Exploration – Key Developments

Gwalia, WA

• Significant intersections at 2,000 mbs
• New seismic target, south of current targets

Simberi Island, PNG

• Further sulphide drilling intersections beneath Sorowar pit
• Testing for copper-gold porphyry deposits at depth below Pigiput pit

Earn-in and Joint Venture, WA

• Agreement with Australian Potash (ASX:APC) to earn 70% in Lake Wells Gold Project (150 km north-east of Laverton)
• Initial Earn-in expenditure is $3.5 M over 12 months.
• Total expenditure to earn 70% is $7.0 M

Growth Pipeline

.

Projects owned 100% St Barbara interest as noted New Investment

20 / 2018 Annual General Meeting Presentation 1. Option and Farm-in Agreement with Newcrest announced 14 November 2016 .

1. Earn-in and Joint Venture Agreement with Australian Potash announced 8 October 2018

Strategy for the Next Five Years – "Stronger for Longer"

Diversify production base Seeking a portfolio of robust operations

Sustainable long life operations

Aiming for above average mine life at bottom-third AISC

Quality growth pipeline

Actively add, manage and progress assets in all phases of the pipeline

Talented people who deliver

Support and work with our people to continue to achieve extraordinary results

Trusted to operate

Our various stakeholders trust us everywhere we choose to operate

Sustainability Report

Sustainability Report

• Complements Annual Report and Corporate Governance Statement

St Barbara sponsors shootingstars.com.au school netball engagement program in Leonora

• Disclosure guided by GRI standards
• Available on website at www.stbarbara.com.au/sustainability/

Sustainability Report topics

Governance & Economic Performance

• Core values and Code of Conduct
• Ethical business conduct with all stakeholders
• Manage for long term growth

Health & Safety

• 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

Gender Diversity

• WGEA Employer Of Choice For Gender Equality in 2014-15, 2015-16, 2016-17 and 2017-18 and the only mining company to be certified in 2017-18.
• 2017 Winner Excellence in Diversity Programs and Performance, National Women in Resources Awards
• 2018 Winner of AMMA's Australian Women in Resources Alliance Award
• Overall pay equity gap reduced from 43% in 2007 to 14% in 20181
• Nil gender pay gap in 'like-for-like' roles2
• Bob Vassie, MD & CEO, appointed in 2014 as one of the first CEO Ambassadors of the Workplace Gender Equality Agency pay equity campaign
• Bob Vassie member of AusIMM Council for Diversity and Inclusion

1. Compared to 17% nationally and 16% for the mining industry, WGEA's gender pay gap statistics Feb 2018 https://www.wgea.gov.au/sites/default/files/gender-pay-gap-statistics.pdf 2. Refer St Barbara Corporate Governance Statement for details, www.stbarbara.com.au/about\_us/governance 2018 Annual General Meeting Presentation

• Record production, profit and cash flow in FY18
• Paying fully franked dividends

Conclusion

• $350 million cash at bank at 30 September 2018, no debt
• Mine life extended at both operations
• Fully funded near-term growth options at both operations
• Exploration focus St Barbara tenements, JVs and targeted investments in juniors
• Well positioned to grow

Portal entrance at Gwalia

Explosives crew at Gwalia: Tim Atherton, Ian James and Jaime-Lee Hemphill, April 2018, photo by Jane Graham.

ProductionSummaryConsolidated		YearFY17	Q1 SepFY18	Q2 DecFY18	Q3 MarFY18	Q4 JunFY18	YearFY18	Final GuidanceFY18	GuidanceFY191
StBarbara'sfinancial		Year to	Qtr to	Qtr to	Qtr to	Qtr to	Year to 30	Year to 30 June	Year to 30 June
yearis1Julyto30June		30 June 2017	30 Sep 2017	31 Dec 2017	31 Mar 2018	30 Jun 2018	June 2018	2018	2019
Production
Gwalia	oz	265,057	64,283	62,835	56,773	84,537	268,428	250 to 260 koz	245 to 260 koz
Simberi	oz	116,044	33,976	36,674	29,112	34,899	134,661	125 to 132 koz	105 to 115 koz
Consolidated	oz	381,101	98,259	99,509	85,885	119,436	403,089	375 to 392 koz	350 to 375 koz
MinedGrade								Reserve grade2	Reserve grade2
Gwalia	g/t	10.7	10.7	11.2	15.0	13.4	12.5	7.8	7.5
Simberi	g/t	1.13	1.21	1.32	1.16	1.30	1.25	1.3	1.3
TotalCashOperating	Costs3
Gwalia	A$/oz	592	621	668	679	530	613	n/a	n/a
Simberi	A$/oz	1,092	964	908	1,036	983	969	n/a	n/a
Consolidated	A$/oz	689	740	757	800	662	732	n/a	n/a
Cost3All-InSustaining
Gwalia	A$/oz	785	816	859	905	679	802	840 to 880	920 to 980
Simberi	A$/oz	1,187	1,027	994	1,129	1,135	1,068	1,070 to 1,130	1,275 to 1,375
Consolidated	A$/oz	907	889	910	982	812	891	920 to 970	1,030 to 1,100

26 / 2018 Annual General Meeting Presentation

1. Refer to ASX release 26 July 2018 'Quarterly Report Q4 June FY18

2. Refer to Ore Reserve and Mineral Resources Statements (released 23 August 2017 and 27 August 2018).

3. Non-IFRS measure, refer Appendix.

St Barbara Today – Overview of Operations

ASX 200 listed Company (SBM), founded 1969

• Shares on issue 524 M
• Market Cap2 A$2,181 M
• Ore Reserves June 2018 3.9 Moz 1
• Mineral Resources June 2018 9.2 Moz 1

Leonora (Gwalia)

• Gwalia underground mine
• FY18 production 268 koz @ AISC A$802/oz
• FY19F3 production 253 koz @ AISC A$950/oz

Exploration

• Greenfields and brownfields exploration portfolio in Australia & PNG
• Near mine targets
• JV with Newcrest in PNG

Consolidated production

• FY18 403 koz @ AISC4 A$891/oz
• FY19F3 363 koz @ AISC A$1,065/oz

Simberi

• Open pit mine
• FY18 production 135 koz @AISC A$1,068/oz
• FY19F3 production 110 koz @ AISC A$1,325/oz

29 / 2018 Annual General Meeting Presentation

1. Refer ASX announcement 27 August 2018 titled 'Ore Reserves and Mineral Resources Statements 30 June 2018'. 2. As at close 22 Oct 18, A$4.16 per share 3. FY19F is midpoint of guidance, refer Q4 June 2018 Quarterly Report. 4. Non IFRS measure, refer corresponding slide in Appendix

Australian Gold Peer Comparison & FY18 Share Metrics

• Underlying profit1 has increased year on year since FY14
• Commenced paying fully franked dividends in FY17
• Dividend yield compares favourably to Australian gold peers

28 / 2018 Annual General Meeting Presentation

• 1. Non-IFRS measure, refer corresponding slide in appendix
• 1. Underlying, refer corresponding slide in appendix
• 1. Based on share price when dividend announced, FY18: A$3.99 on 21 August 2018 and FY17: A$2.91 on 22 August 2017
• 1. Market Capitalisation as at 22 October 2018

Reserves and Resources as at 30 June 2018

Gwalia Reserves and Resources

• Reduced by mining depletion
• Update to reserves and resources following completion of GMX Feasibility Study
• Mine life extended to FY31

Simberi Reserves and Resources

• Oxide mine life extended to FY21
• Sulphide drilling continuing

3.9

4.3

Ore Reserves

4.0

Segment Profit and Cash Contribution from Operations

Reportable segment profit / (loss) before tax1

Cash contribution from operations1, 2, 3

• 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.
• 1. Non-IFRS measure, refer to corresponding slide in Appendix.
• 1. Contribution is before Gwalia's growth capex and deep drilling expenditure of $37 M (2017: $17 M) and Simberi sulphide drilling of $0.3 M (2017: Nil) 2018 Annual General Meeting Presentation

30 /

Exploration Activities

For full explanation and results refer to ASX release 17 Oct 2018 'Quarterly Report Q1 Sep FY18' 33 / 2018 Annual General Meeting Presentation

Gwalia Mass Extraction – PFS

• Pre-feasibility Study announced February 2018
• Comprises selective "island pillar" mining and hydraulic hoisting
• Utilises increased ventilation from GEP
• Supports mine life to FY31
• Feasibility study due March 2019, expanded to consider alternative flow sheets

32 / 2018 Annual General Meeting Presentation

Exploration – Simberi Island, PNG, Q1 September FY19

		Proved			Probable		Total
Project	Tonnes('000)	Gold(g/t)	Ounces('000)	Tonnes('000)	Gold(g/t)	Ounces('000)	Tonnes('000)	Gold(g/t)	Ounces('000)
Gwalia, (WA)	1,845	9.0	531	6,061	7.0	1,368	7,907	7.5	1,899
Tower Hill, (WA)	-	-	-	2,572	3.7	306	2,572	3.7	306
Simberi Oxide, (PNG)	1,644	1.5	77	5,692	1.3	237	7,336	1.3	314
Simberi Sulphide, (PNG)	151	3.0	15	12,200	3.5	1,367	12,352	3.5	1,382
Simberi Stockpiles, (PNG)	889	0.8	22	-	-	-	889	0.8	22
Total All Projects	4,529	4.4	645	26,525	3.8	3,278	31,055	3.9	3,923

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)
• 1. 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)
• 1. Mineral Resources are reported inclusive of Ore Reserves.
• 1. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding.
• 1. Details relating to each of the estimates are contained in the 2018 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 27 August 2018 'Ore Reserves and Mineral Resources Statements 30 June 2018' available at www.stbarbara.com.au.

		Measured			Indicated		Inferred			Total
Project	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)	4,581	7.1	1,048	14,690	6.3	2,997	3,831	6.3	780	23,102	6.5	4,825
Tower Hill, (WA)	-	-	-	4,604	3.9	574	489	3.3	51	5,093	3.8	625
Simberi Oxide, (PNG)	2,120	1.2	85	10,163	1.0	341	4,834	1.0	150	17,117	1.0	576
Simberi Sulphide, (PNG)	526	1.7	28	40,683	1.9	2,454	12,615	1.6	654	53,824	1.8	3,136
Total All Projects	7,227	5.0	1,161	70,140	2.8	6,366	21,769	2.3	1,635	99,136	2.9	9,162

Notes

• 1. Mineral Resources are reported inclusive of Ore Reserves
• 1. 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)
• 1. Simberi Mineral Resources are reported constrained by a US$1,800/oz pit shell
• 1. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding.
• 1. Details relating to each of the estimates are contained in the 2018 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 27 August 2018 'Ore Reserves and Mineral Resources Statements 30 June 2018' available at www.stbarbara.com.au.

Shareholders and Broker Coverage

Broker Research Coverage

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

Substantial Shareholders

Van Eck	13%
Vinva	5%
Institutional Shareholders	88%
Shares on issue	524M

1. Shareholder data as at 14 September 2018.

2. Substantial shareholders as notified to ASX to 22 October 2018

Board of Directors

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, transactional and sustainability experience gained in senior executive and board roles over many years. His key executive positions during the past 25 years included Managing Director and CEO of Gindalbie Metals Ltd, Senior Vice President Asia Pacific Region of Newmont Inc., Managing Director of Vale Coal Australia, President of P T Inco and Executive Director of Refining & New Business at Impala Platinum Ltd.

Mr Netscher's experience covers a wide range of resources including nickel, coal, iron ore, uranium and gold in Africa, Asia and Australia.

Bob Vassie Managing Director and CEO Appointed July 2014

Mr Vassie is a mining engineer with over 30 years international mining industry experience and has 18 years experience in a range of senior management roles with Rio Tinto, culminating in Global Practice Leader-Mining Technology and then Managing Director–Strategic Optimisation. Immediately prior to joining St Barbara he was MD and CEO of Ivanhoe Australia Ltd. He has particular experience in operations management, resource development strategy, mine planning, feasibility studies, business improvement, corporate restructuring and strategic procurement. .

David Moroney

Director– Non Executive Appointed March 2015

Mr Moroney is an experienced finance executive with more than 30 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's executive positions included CFO of Co-Operative Bulk Handling, CFO of First Quantum Minerals Ltd, General Manager Group Business Services at Wesfarmers Ltd, CFO of Wesfarmers CSBP Ltd, Deputy CFO/Executive GM Accounting of Normandy Mining Ltd and CFO at Aurora Gold Ltd. Mr Moroney's experience covers a wide range of resources including diamonds, copper, cobalt, nickel, silver and gold in Africa, Asia, Scandinavia and Australia.

Kerry Gleeson Director– Non Executive

Appointed May 2015

Ms Gleeson has over 25 years board room and senior management experience across Europe, North America and Australasia. A qualified lawyer in both UK and Australia, Ms Gleeson has significant experience in international governance, strategic mergers and acquisitions and complex corporate finance transactions, as well as in risk and crisis management.

Ms Gleeson was a member of the Group Executive at Incitec Pivot Limited for ten years, including as Company Secretary and General Counsel. Prior to joining Incitec Pivot, she was a corporate finance and transactional partner in an English law firm and, on relocating to Australia, was appointed a senior corporate lawyer with Australian law firm, Blake Dawson Waldron (now Ashurst).

Executive Leadership Team

Bob Vassie

Managing Director and CEO

Appointed 2014

Mr Vassie is a mining engineer with over 30 years international mining industry experience and has 18 years experience in a range of senior management roles with Rio Tinto, culminating in Global Practice Leader-Mining Technology and then Managing Director–Strategic Optimisation. Immediately prior to joining St Barbara he was MD and CEO of Ivanhoe Australia Ltd. 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

Mr Campbell-Cowan is a Chartered Accountant with over 30 years experience in finance and management positions across a number of different industries. He 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.

Rowan Cole

Company Secretary

Joined 2010

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.

Val Madsen

GM Human Resources

Joined 2013

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.

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 2018' released to the Australian Securities Exchange (ASX) on 27 August 2018 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 27 August 2018 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 27 August 2018 'Ore Reserves and Mineral Resources Statements 30 June 2018' available at www.stbarbara.com.au.

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-InSustainingCostisbasedonCashOperatingCosts,andaddsitemsrelevanttosustainingproduction.Itincludessome,butnotall,ofthecomponentsidentifiedinWorldGoldCouncil'sGuidanceNoteonNon-GAAPMetrics-All-InSustainingCostsandAll-InCosts(June2013).Refermostrecentquarterlyreportavailableatwww.stbarbara.com.auforexample
Cash contribution	Cashflowfromoperationsbeforefinancecosts,referreconciliationofcashmovementinthemostrecentquarterlyreportavailableatwww.stbarbara.com.au
Cash operating costs	CalculatedaccordingtocommonminingindustrypracticeusingTheGoldInstitute(USA)ProductionCostStandard(1999revision).Refermostrecentquarterlyreportavailableatwww.stbarbara.com.auforexample
Dividend yield	Dividend ÷share price
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 equivalent to cash and cash equivalents less current and non-current interest bearing borrowings
Net-debt	Net-debt equivalent to current and non-current interest bearing borrowings less cash and cash equivalents
ROE	'Return on equity' is calculated as underlyingNPAT expressed as a percentage of average total equity. Refer 2018Directors' and Financial Report (p3) fordetails
Significant Items	Items whose nature or amount is considered material to the financial report.Refer Note3 of 2018 Financial Report (p49) for details
Underlying EBITDA /NPAT	EBITDAorNPATafterexcludingidentifiedsignificantitems.Refer2018FinancialReport(p3)fordetails.
2018 Financial Report	Refer2018Directors'andFinancialReportavailableatwww.stbarbara.com.au

Investor Relations Enquiries

Rowan Cole Company Secretary

T: +61 3 8660 1900

David Cotterell Manager Investor Relations

E: info@stbarbara.com.au

St Barbara Board, underground at Gwalia, October 2017. L to R: Tim Netscher (Non-Executive Chairman), Andrew Walker (Underground Manager), Rowan Cole (Company Secretary), Kerry Gleeson (Non-Executive Director), Bob Vassie (MD&CEO), and David Moroney (Non-Executive Director)