ST BARBARA LIMITED — Capital/Financing Update 2020

Sep 17, 2020

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

----- Start of picture text ----- ASX Release / 18 September 2020----- End of picture text -----

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

Quarterly production profile revised

St Barbara Ltd (ASX: SBM) (“St Barbara”) advises that a recent fall of ground at the Company’s Gwalia mine at Leonora in Western Australia temporarily interrupted production. This will impact the Q1 September FY21 result, but the shortfall is anticipated to be recovered in Q2 December FY21.

It is estimated that approximately 8,000 ounces slated for production in Q1 FY21 will now be delivered as part of Q2 FY21 production.

Full year production guidance for FY21 for Gwalia is maintained at between 175,000 to 190,000 ounces.

The fall of ground occurred at the Gwalia underground mine on 8 September 2020, after a large firing triggered a number of seismic events. The largest seismic event measured +1.9 ML (local magnitude). No personnel were underground at the time. The fall of ground was identified upon re-entry and had occurred in the Hoover Decline at approximately 1600 metres below surface (mbs), and was estimated to contain approximately 11 cubic metres (~30 tonnes) of material.

The event was reported to the appropriate authorities and all work at depth was suspended pending assessment of the seismic information. The geotechnical risk is well understood and closely monitored. Investigation and rectification work took longer than initially anticipated, as although the longest dimension of the fall of ground was 3 metres, ultimately a total of 30 metres lateral rehabilitation was required. The decline has reopened and mining activity has resumed below this level.

Further commentary on operations will be provided in the Q1 September FY21 quarterly report scheduled to be released on 21 October 2020. The revised consolidated quarterly production guidance profile (incorporating Atlantic, Gwalia and Simberi) is below:

==> picture [220 x 206] intentionally omitted <==

----- Start of picture text ----- FY21 Consoldiated Production(Atlantic, Gwalia, Simberi)Indicative Quarterly Guidance Profile29%26%24%20%(-2%) (+2%)FY21 FY21 FY21 FY21Q1 Sep Q2 Dec Q3 Mar Q4 JunIndicative % of annual production (koz) ActualFigures rounded to nearest percent and may not add due to rounding.----- End of picture text -----

Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1959 ASX: SBM Media Relations Mr Ben Wilson GRACosway +61 407 966 083 ADR: STBMY Authorised by Mr Rowan Cole Company Secretary

Level 10, 432 St Kilda Road, Melbourne VIC 3004 Locked Bag 9, Collins Street East, Melbourne VIC 8003

St Barbara Limited ACN 009 165 066

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