ST BARBARA LIMITED — Capital/Financing Update 2018

Mar 6, 2018

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Short term A$ gold price protection on 25 koz of gold for July 2018 to December 2019

St Barbara Limited (ASX: SBM) has entered into a total of 25,000 ounces of forward gold contracts to be delivered in monthly instalments from July 2018 to December 2019 at a forward price of A$1,750 per ounce. This completes the current planned hedge program for the period July 2018 to December 2019 in relation to 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 FY18 Simberi is expected to produce between 115,000 and 125,000 ounces of gold, at an All-in Sustaining Cost of between A$1,130 and A$1,230 per ounce[1] .

Summary of hedging in place at the date of this release

• FY18 • 18,000 ounces of forward gold contracts to be delivered in monthly instalments between March and June 2018 at A$1,725 per ounce (remainder of hedge announced 12 April 2017)

• • 18,000 ounces of forward gold contracts to be delivered in monthly instalments between March and June 2018 at A$1,730 per ounce (remainder of hedge announced 1 June 2017)

• FY19 • 100,000 ounces of forward gold contracts to be delivered in monthly instalments between July 2018 and June 2019 at A$1,750 per ounce (FY19 component of hedges announced 7 and 19 February 2018 and today)

• FY20 • 50,000 ounces of forward gold contracts to be delivered in monthly instalments between July and December 2019 at A$1,750 per ounce (FY20 component of hedges announced 7 and 19 February 2018 and today)

1 AISC is a Non-IFRS measure, refer Q2 December 2017 Quarterly Report released 23 January 2018. The Report also includes FY18 guidance.

Investor Relations	Mr Alistair Reid	Manager Investor Relations	+61 3 8660 1959
Media Relations	Mr Tim Duncan	Hinton & Associates	+61 3 9600 1979
St Barbara Limited	Level 10, 432 St Kilda	Road, Melbourne VIC 3004	T+61 3 8660 1900F+61 3 8660 1999
ACN 009 165 066	Locked Bag 9, Collins Street East, Melbourne VIC 8003		Wwww.stbarbara.com.au