ST BARBARA LIMITED — Capital/Financing Update 2016

Feb 8, 2016

==> picture [383 x 108] intentionally omitted <==

----- Start of picture text ----- ASX Release / 9 February 2016----- End of picture text -----

==> picture [170 x 55] intentionally omitted <==

==> picture [457 x 137] intentionally omitted <==

St Barbara buys back US$10 million of Senior Secured Notes at a 2% discount

St Barbara Limited has repurchased an additional US$10 million in aggregate principal of its US 144A Senior Secured Notes, at a discount of 2% to par value.

Settlement of the repurchase occurred this week. Net payments amounted to approximately A$14 million, consisting of discounted principal repayments and accrued interest for the period since interest was last paid in mid-October 2015 up to the date of repurchase.

St Barbara’s aggregate cash balance prior to the repurchase exceeded A$105 million.

In the last 9 months St Barbara has repurchased a cumulative US$80 million (32%) in aggregate principal of the original US$250 million of Notes issued by St Barbara in March 2013. The Notes have a coupon rate of 8.875% p.a. and maturity date of April 2018. US$170 million of the Notes remain on issue at the date of this announcement.

At the date of this announcement, the Red Kite debt facility has a balance of US$36 million which, following further expected payments, is anticipated to reduce to US$26 million by the end of the March 2016 quarter.

Bob Vassie, St Barbara MD & CEO, said: "Our surplus cash has allowed us to buy back more debt at a discount, allowing us to further strengthen our balance sheet.”

Mr Rowan Cole Company Secretary +61 3 8660 1900 Ms Nerida Mossop Hinton & Associates +61 3 9600 1979

Investor Relations Mr Rowan Cole Media Relations Ms Nerida Mossop St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003

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