ST BARBARA LIMITED — Annual Report 2016

Aug 23, 2016

Presentation on the FY16 Financial Report and 30 June 2016 Ore Reserves and Mineral Resources Statements

Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the FY16 Financial Report and 30 June 2016 Ore Reserves and Mineral Resources Statements at 10.00 am Australian Eastern Standard Time (UTC + 10 hours), Wednesday 24 August 2016. Participation on the conference call is by personal invitation only.

A live audio webcast of the briefing will be available on St Barbara's website at www.stbarbara.com.au/investors/webcast/ or by clicking here. The audio webcast is 'listen only' and does not enable questions. The audio webcast will subsequently be made available on the website.

Investor Relations Mr Rowan Cole Company Secretary +61 3 8660 1900 Media Relations Ms Nerida Mossop 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

BOB VASSIE, MANAGING DIRECTOR & CEO GARTH CAMPBELL-COWAN, CHIEF FINANCIAL OFFICER / 24 August 2016

FY16 Financial Report 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.

• ˃ Headlines

• ˃ Operations

• ˃ Financial Results

• ˃ Resources and Reserves

• ˃ Exploration & Outlook

• ˃ Conclusion

• ˃ Appendices

FY16 Headlines: Record safety and production results

Total Recordable Injury Frequency Rate2

Record production & costs

• ˃ Record production at Gwalia, Simberi and consolidated
• ˃ Increased production and continued cost management resulting in lower AISC1

Safety

˃ Record safety performance of 2.1 TRIFR2

• 1. Non IFRS measure, refer slide in appendix
• 1. Total Recordable Injury Frequency Rate (12 month average)

FY16 Headlines: Record profit and cash flow

		FY16	FY15	Change
NPAT (Statutory)	A$M	169	40	327%
Cashflow fromoperations	A$M	243	113	114%
Debtrepayments 1	A$M	142	71	100%
Share price	$	2.95	0.57	418%
Reserves	Moz	4.0	4.0	-
Resources	Moz	9.1	9.2	-1%

˃ Record profit

˃ Balance sheet repaired

˃ Debt reduced by A$185 million to A$170 M2 at 23 Aug 2016, with corresponding cash on hand of ~A$100 million

˃ Gwalia R&R upgrade

• ˃ Gwalia Resource and Reserve increased by gross 938 koz and 490 koz respectively3
• 1. Principal repayments from cash flow statement
• 1. Balance sheet debt reduction from 30 June 2015 to 23 Aug 2016, includes FX effects
• 1. Refer ASX announcement released 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Gwalia: Record production driven by productivity gains

8% year on year improvement, 3 key innovations

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

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

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

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

Simberi FY14 to FY16 – improvements in all metrics

Mining is total material moved (ore + waste). AISC is a non IFRS measure, refer corresponding slide in Appendix.

			FY16	FY15
Gold price	Averagegold price realised	A$/oz	1,595	1,439
	All-In Sustaining Cost 2	A$/oz	933	1,007
Result	˃Statutory profit after tax	A$M	169	40
	2˃Underlying netprofit after tax	A$M	127	42
	EBITDA 2˃	A$M	298	168
	Underlying EBITDA 2˃	A$M	286	184
Cash flow	˃Cash flows from operatingactivities	A$M	243	113
	3˃Cash flows after funding capex	A$M	197	63
	Debt repayments 1˃	A$M	142	71
Ratios	˃Basic earnings per share(from continuing operations)	$ps	0.34	0.04
	Return on equity 2˃(from continuing operations)	%	54	21

1. Principal repayments from cash flow statement

2. Non-IFRS measure, refer appendix..

3. Cash flows from operating activities less cash outflows for investing activities (PPE, development, capitalised exploration)

Key changes to underlying profit1 FY15 to FY16

Cash movement FY16

Reportable segment profit/ (loss) before tax1

Cash contribution from operations1, 2

11 / FY16 Full Year Financial Presentation

• 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 of site operating cash flow, refer page 4 of 2016 Directors' and Financial Report

Debt, Cash Balance & Contribution from Operations

Gwalia Reserves Gwalia Resources

* Changes include Geology, Design and Factor Changes

Potential for further addition in FY17 from Northern extension and 2000-2200 infill drilling

13 / FY16 Full Year Financial Presentation

1. Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'. Geology & Design Changes includes other minor modifying technical factors.

Gwalia Mineral Resource Classification & Reserves June 2016 and June 2015

Gwalia Ore Reserve	Proved (kt, g/t, koz)			Probable (kt, g/t, koz)			TOTAL (Proved & Probable, kt, g/t, koz)
2016	2,286	9.6	702	4,510	7.6	1,105	6,795	8.3	1,808
2015	2,100	9.1	614	3,190	9.6	980	5,290	9.4	1,594

14 / FY16 Full Year Financial Presentation Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Simberi: Reserve and Resource changes

Resources - Oxide

Reserves - Oxide

Resources - Sulphide

Key Changes

• ˃ New sulphide resource model prepared for Sulphide Project PFS
  • ˃ incorporating more sophisticated understanding of sulphur content
  • ˃ Some low grade areas classified non-economic and removed, slight reduction in assumed gold price
• ˃ Oxide Reserves: 'Transitional' ore previously classified as Oxide reclassified as Sulphide at June 2016
• ˃ Nil impact on oxide mine life or Sulphide Project PFS parameters

Mt Letam Au-Cu target, Tatau Island

Profitable growth options

Existing opportunities

• Gwalia mine extension study well advanced

• Simberi strategic review underway

• Exploration in WA and PNG

Eyes open for other opportunities

• Consider sensible inorganic growth where it increases shareholder value

• Systematic evaluation process underway

Will consider

• Exploration, project, development and operating assets

• 'Investible' assets inside and outside of Australia Gwalia Deep Drilling

Gwalia mine life extension & Reserves upgrade

Gwalia Reserves & Resources increased

• Mine plan to 1940 mbs (in FY24)

• Reserves increased by net 214 koz (gross increase 490 koz)

• Resources increased by net 592 koz (gross increase 938 koz)

Ventilation study underway

• Trucking with increased ventilation option preferred extension option

• Facilitates mining below 1,800 mbs and potential for increased production above 1,800 mbs

• Focused ventilation study underway. Investment decision due December 2016

• Grade control 3 years in advance, mine development 1 year in advance

A ventilation PFS has been completed and a feasibility study will now compare the following options (all figures approximate at +/-20% study accuracy):

• (A) Increase ventilation infrastructure (on surface) and install two 4.5m ventilation shafts to 1,500 mbs in two sections, project capex $65 million, allows mining to at least 2,000 mbs and extendable to 2,200 mbs with additional $10 million capex1
• (B) 'Do nothing', project capex $nil, allows mining to base of 2016 Reserve at a reduced rate per annum

1. The project metrics are based on the PFS and subject to the assumptions contained therein. The results may change as the feasibility studies progress.

• The Gwalia life of mine plan used for the 2016 Ore Reserves and Mineral Resources includes capital expenditure for the Option A ventilation upgrade.

• As a consequence of incorporating the proposed Option A ventilation upgrade, Reserves and Resources at 30 June 2016 have increased by 297 koz and 938 koz respectively below 1,740 mbs, and the mine plan has been extended from 1,740 mbs to 1,940 mbs (in FY24).

• The PFS indicates that at current gold prices and internal discount rates Option A is accretive to Company value.

• An investment decision is anticipated in December 2016. The current indicative project timeline involves detailed engineering, preliminary work (including underground development) and procurement to June 2017, with shaft construction to commence in earnest in Q1 September 2018, and a construction period of 2 -2 ½ years.

Conceptual illustration of Gwalia ventilation solution

Simberi: maximize shareholder value

Sulphide Project

Assess additional investment against potential eight year mine life extension

Strategic review

Broad consideration of options for PNG assets to maximize shareholder value

Exploration

• Simberi: Near mine oxide drilling & trenching

• Tatau: Drilling anomaly near historical copper- gold prospect at Mt Letam

  • Further copper- gold zones in Southwest Tatau as well as sulphide/oxide targets

• Big Tabar: Historical copper-gold prospect

Exploration:

Guidance A$18 to A$22 million

A$10- A$12 million, Gwalia

• ˃ Gwalia Deep Drilling infill + Northern Extension
• ˃ Gwalia Seismic

A$8- A$10 million:

• ˃ WA (30%) Pinjin complete drilling
• ˃ PNG (70%)
  • ˃ Simberi Oxides near mine
  • ˃ Tatau Copper- Gold
  • ˃ Tatau Oxides/Sulphides

St Barbara vs Comparator mines - FY16 production & LOM

24 / FY16 Full Year Financial Presentation

Source: FY16 actuals from publicly available reports, OGC is C17 guidance midpoints @US$0.77, LOM = reserves/production, FCF = FY 2016 'implied free cash flow' at A$1,700/oz gold less AISC times production. Gwalia LOM includes Tower Hill.

Great year, big future

FY16

• ˃ Record safety
• ˃ Record production
• ˃ Record profit
• ˃ Record cash flow

FY17

• ˃ Aiming to maintain strong production & cash flow
• ˃ Strong Reserves and Resources position
• ˃ Now looking at profitable growth options
• ˃ Working to extend Gwalia life
• ˃ Exploring Greater Gwalia and Pinjin (WA), Simberi, Tatau, Big Tabar (PNG)

March 2016: Rainbow over Hoover House and Gwalia pit.

is midpoint of guidance, released 19 July 2016 in Q4 June 2016 Quarterly Report. 4.

Non IFRS measure, refer corresponding slide in Appendix

Consolidated Production, Costs, Guidance Summary

ProductionSummaryConsolidated	YearFY15	Q1 SepFY16	Q2 DecFY16	Q3 MarFY16	Q4 JunFY16	YearFY16	GuidanceFY16	GuidanceFY17
Production
Gwaliaoz	248,142	72,388	63,533	66,147	65,098	267,166	260 to 265 koz3	245 to 265 koz
Hills5Kingoftheoz	49,677	9,112	-			9,112	9 koz4	-
Simberioz	79,568	29,539	28,379	25,433	26,935	110,286	100 to 110 koz6	95 to 105 koz
Consolidatedoz	377,387	111,039	91,912	91,580	92,033	386,564	369 to 384 koz	340 to 370 koz
MinedGrade
							[2]Reserve grade	[2]Reserve grade
Gwaliag/t	8.9	9.7	7.9	10.2	9.3	9.3	9.4	8.3
Simberig/t	1.23	1.22	1.22	1.35	1.18	1.26	(oxide) 1.3	(oxide)1.3
TotalCashOperatingCosts[1]
Gwalia$/oz	642	553	665	587	638	609	n/a	n/a
Hills5Kingofthe$/oz	1,112	893	-5	-	-	893	n/a	n/a
Simberi$/oz	1,336	1,119	1,098	1,198	1,164	1,143	n/a	n/a
Consolidated$/oz	850	731	799	757	792	765
Cost[1]All-InSustaining
Gwalia$/oz	841	692	846	770	836	783	800 to 820	850 to 910
Hills5Kingofthe$/oz	1,103	964	-5	-	-	964	-	-
Simberi$/oz	1,464	1,252	1,319	1,404	1,266	1,293	1,350 to 1,430	1,330 to 1,490
Consolidated$/oz	1,007	863	992	947	960	933	960 to 1,000	985 to 1,075
Capex
GwaliaA$M							29 to 32	40 to 47
SimberiA$M							10 to 12	5 to 6
ConsolidatedA$M							39 to 44	45 to 53

1. Non-IFRS measure, refer corresponding slide in Appendix.

2. Ore Reserve grade at 30 June 2015, refer Ore Reserve and Mineral Resources Statement released 25 August 2015. Ore Reserve grade at 30 June 2016, refer Ore Reserve and Mineral Resources Statement released 23 August 2016.

3. Final Gwalia FY16 guidance revised 7 April 2016 (Q3 Mar 2016 production report).

4. Stockpiled as at 30 June 2015.

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

6. Final Simberi FY16 guidance revised 8 January 2016 (Q2 Dec 2015 production report).

28 / FY16 Full Year Financial Presentation

St Barbara share price vs gold in A$ and US$

Source: IRESS to close 21 Aug 2016 1. http://www.asx.com.au/education/investor-update-newsletter/201601-making-money-this-year.htm

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

29 / FY16 Full Year Financial Presentation

Significant Items in NPAT

US Senior Secured Notes

• ˃ US$250 million issued March 2013, US$168 million balance at 30 Jun 2016
• ˃ Additional US$40 million repurchased 20 July 2016, balance at 23 Aug 2016 is US$128 million, US$122 million repurchased since 1 June 2015
• ˃ 6 monthly interest payments in arrears each April and October
• ˃ Interest payments fixed at 8.875% p.a., matures April 2018

Hedging

• ˃ 34,000 ounces of remaining gold forward contracts to be delivered in monthly instalments to December 2016 at US$1,261 per ounce (this hedge announced 18 March 2016, initially 50,000 ounces)
• ˃ 50,000 ounces of gold forward contracts to be delivered in monthly instalments between January and June 2017 at US$1,338 per ounce (this hedge announced 4 July 2016)

Three moving parts of capital management

Indicative financial impact. All figures approximate A$M

• ˃ Anticipate strong free cash flows of FY16 to continue in FY17
• ˃ Debt reduction still a focus in short term
• ˃ Greater visibility of cash requirements following outcome of Simberi strategic review
• ˃ Potential Gwalia investment can be funded from cash flow

Gwalia – Ore Reserve Grade Movement

Gwalia - variances to Ore Reserve Grade FY15 to FY16 1

34 / FY16 Full Year Financial Presentation

1. Refer ASX announcement released 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Gwalia Mineral Resource Movement June 2015 to June 2016

Gwalia Ore Reserve Movement June 2015 to June 2016

Greater Gwalia – province exploration campaign in FY17+

• ˃ Use sound waves reflecting off mineral formations to explore.
• ˃ Used successfully by other WA Gold miners
• ˃ Q1 Gwalia, Q2 'Greater Gwalia'
• ˃ Leading edge use of sensors down deep drill holes

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

Major variances to Ore Reserves FY15 to FY16 1

1. Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Major variances to Mineral Resources FY15 to FY161

1. Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Ore Reserves Summary as at 30 June 2016

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

Notes

• 1. Ore Reserves are based on a gold price of Gwalia (A$1,350/oz), Tower Hill (A$1,250/oz), Simberi (US$1200/oz)
• 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 2016 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/

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

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

Mineral Resources Summary as at 30 June 2016

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

Notes

1. Mineral Resources are reported inclusive of Ore Reserves

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

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

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

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

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

Shareholding Structure

Significant Shareholders 1

Van Eck	12.7%
M&G Investment Mgt	8.4%
Hunter Hall	6.8%

Institutional Shareholders 2 82% Shares on issue 495M Broker Research Coverage

Argonaut	Adam Miethke
Canaccord	Reg Spencer
CreditSuisse	Mike Slifirski
Deutsche Bank	Matt Hocking
Macquarie	Ben Crowley
Petra Capital	Brett McKay

Approved Depositary Receipts (ADR) are trading in USA through BNY Mellon (ADR OTC Code 'STBMY')

1. As notified by substantial shareholders to 22 Aug 2016

Exploration Results

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

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

Mineral Resource and Ore Reserve Estimates

The information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the report titled 'Ore Reserves and Mineral Resources Statements 30 June 2016' released to the Australian Securities Exchange (ASX) on 23 August 2016 and available to view at www.stbarbara.com.au and for which Competent Persons' consents were obtained. Each Competent Person's consent remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 23 August 2016 and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcement.

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

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

Non-IFRS Measures

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

Cash operating costs	˃CalculatedaccordingtocommonminingindustrypracticeusingTheGoldInstitute(USA)ProductionCostStandard(1999revision).
All-In Sustaining Cost	˃All-InSustainingCostisbasedonCashOperatingCosts,andaddsitemsrelevanttosustainingproduction. Itincludessome,butnotall,ofthecomponentsidentifiedinWorldGoldCouncil'sGuidanceNoteonNon-GAAPMetrics-All-InSustainingCostsandAll-InCosts(June2013).
EBIT	˃EBIT is earnings before interest revenue, finance costs and income tax expense. Itincludes revenues and expenses associated with discontinued operations.
EBITDA	˃EBITDA is EBIT before depreciation and amortisation. It includes revenues andexpenses associated with discontinued operations.
Significant Items	˃ItemsincludedinIFRSNetProfitAfterTaxthattheBoardandManagementconsidermaynotbeindicativeof,orareunrelatedto,coreoperatingresults(suchasprofitorlossongoldoptions,orthesaleoftenementrights)
	˃Refer2016FinancialReport(p3)fordetails,availableatwww.stbarbara.com.au
Underlying Net profit/(loss)	˃Net profit after tax excludingidentified significant items
after tax	˃Refer 2016 Financial Report (p3) for details, available at www.stbarbara.com.au

Rowan Cole Company Secretary

Garth Campbell-Cowan Chief Financial Officer

T: +61 3 8660 1900 E: info@stbarbara.com.au