ST BARBARA LIMITED — Capital/Financing Update 2018

Dec 9, 2018

ASX Release / 10 December 2018

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Short term US$ gold price protection on 50 koz of gold from January to December 2020

St Barbara Limited (ASX: SBM) has entered into an additional 50,000 ounces of forward gold contracts to be delivered in monthly instalments from January to December 2020 at a forward price of US$1,300 per ounce. This completes the current planned hedge program for the period to December 2020 in relation to anticipated Simberi production.

The forward contracts are notionally assigned to secure a reliable cash margin on a portion of Simberi’s anticipated future gold production in FY20 and FY21. This tranche of forward contracts is denominated in US$ to protect a portion of forecast expenditure exposed to US$ (either directly in US$ or indirectly in PNG Kina). As previously announced, the Simberi Life of Mine plan extends to FY21[1] , with mining continuing throughout FY19 and FY20. Low-grade stockpiles accumulated over FY18 to FY20 will be processed in FY21.

Summary of hedging in place at the date of this release

• FY19 52,000 ounces of forward gold contracts to be delivered in monthly instalments between January and June 2019 at A$1,750 per ounce (remaining FY19 component of initial 100,000 ounce hedges announced in February and March 2018)

• FY20 98,000 ounces, comprising:

  • 50,000 ounces of forward gold contracts to be delivered in monthly instalments between July and December 2019 at A$1,750 per ounce (announced in February and March 2018)

  • 24,000 ounces of forward gold contracts to be delivered in monthly instalments between January and June 2020 at A$1,809 per ounce (announced 26 October 2018)

• 24,000 ounces of forward gold contracts to be delivered in monthly instalments between January and June 2020 at US$1,300 per ounce (announced today)

• FY21 52,000 ounces, comprising:

  • 26,000 ounces of forward gold contracts to be delivered in monthly instalments between July and December 2020 at A$1,809 per ounce (announced 26 October 2018)

  • 26,000 ounces of forward gold contracts to be delivered in monthly instalments between July and December 2020 at US$1,300 per ounce (announced today)

1 LOM based on existing Reserves, refer to Ore Reserves and Mineral Resources Statement as at 30 June 2018, released 27 August 2018

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 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