ST BARBARA LIMITED — Capital/Financing Update 2013

Mar 24, 2013

St Barbara Limited ACN 009 165 066 Level 10, 432 St Kilda Road, Melbourne VIC 3004 Locked Bag 9, Collins Street East, Melbourne VIC 8003 Tel +61 3 8660 1900 Fax +61 3 8660 1999 www.stbarbara.com.au

==> picture [162 x 174] intentionally omitted <==

==> picture [162 x 78] intentionally omitted <==

==> picture [162 x 143] intentionally omitted <==

==> picture [161 x 242] intentionally omitted <==

St Barbara to issue US$250 million Senior Secured Notes

St Barbara has priced a US$250 million senior secured note issue following a successful offering in the United States Rule 144A bond markets and to certain persons outside the United States in reliance on Regulation S of the Securities Act. The offering consists of US$250 million Senior Secured Notes (the "Notes") due 15 April 2018 with a coupon rate of 8.875% and which were priced at 99.493% of the principal amount of the Notes.

The Notes will be issued by St Barbara Limited and are secured by St Barbara Limited's assets. The security does not include the assets of the Pacific Operations.

The net proceeds of the offering will be used to repay existing borrowings under the Company’s A$150 million Syndicated Debt Facility, provide cash collateralisation for the existing A$20 million performance bond facility and for general corporate purposes.

Settlement of the offering of the Notes is expected to occur on 27 March 2013 in New York and is subject to customary closing conditions.

This announcement does not constitute an offer to sell, or the solicitation of any offer to buy, the Notes or any other securities. Any offer of the Notes will be made only by means of a private offering memorandum. The Notes have not been and will not be registered under the Securities Act, or the securities laws of Australia or any other jurisdiction. The Notes may not be offered or sold in the United States without registration under the Securities Act or an applicable exemption from such registration requirements. The Notes may not be offered or sold in Australia without a disclosure document having been lodged with ASIC (which is not intended) or an applicable exemption from the requirement to lodge such a disclosure document.

==> picture [76 x 69] intentionally omitted <==

Tim Lehany Managing Director and CEO 25 March 2013