ST BARBARA LIMITED — Capital/Financing Update 2018

Feb 6, 2018

ASX Release / 7 February 2018

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Short term A$ gold price protection on 90 koz of gold for July 2018 to December 2019

St Barbara Limited (ASX: SBM) has entered into a total of 90,000 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.

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 • 22,000 ounces of forward gold contracts to be delivered in monthly instalments between February and June 2018 at A$1,725 per ounce (this hedge initially for 50,000 ounces between July 2017 and June 2018 , announced 12 April 2017)

  • 22,000 ounces of forward gold contracts to be delivered in monthly instalments between February and June 2018 at A$1,730 per ounce (this hedge initially for 50,000 ounces between July 2017 and June 2018, announced 1 June 2017)

• FY19 • 60,000 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 90,000 ounce hedge announced today)

• FY20 • 30,000 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 90,000 ounce hedge announced 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 1900 F ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

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