ST BARBARA LIMITED — Capital/Financing Update 2021

Jun 2, 2021

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Update on Simberi Operations; Simberi FY21 guidance withdrawn

St Barbara Limited (ASX: SBM) ( St Barbara or the Company ) provides an update following the fatality on 21 May 2021 at its Simberi Operations, Papua New Guinea.

The investigation by The Mineral Resources Authority ( MRA ) remains ongoing, with the Company’s full cooperation. The MRA has advised that specific activities relating to site maintenance, grade control drilling and drill and blast activities can resume, however mining operations are not yet permitted to restart.

St Barbara continues to provide care and support to the family of the worker, the local community and all employees at Simberi Operations.

Separately, a recent scheduled inspection of Simberi’s deep sea tailings placement ( DSTP ) pipeline by a remotely operated vehicle observed a failure of the pipeline at an approximate water depth of 54 metres. The cause of the failure is not known at this time.

Simberi Operations has ceased placement of tailings through the DSTP pipeline. The Conservation and Environmental Protection Authority ( CEPA ) has been notified of the pipeline failure and an investigation has commenced. No environmental harm has been reported, nor has pluming of tailings been observed. Sampling and monitoring activities are ongoing.

An investigation team has been established to ascertain the cause of the failure and expedite options for repair and / or replacement.

Simberi Operations was on track to achieve forecast FY21 guidance of between 80,000 and 90,000 ounces at All-In Sustaining Cost between A$1,790 and A$2,030 per ounce 0F[1] . However, in light of the uncertain timeframe for MRA approval to restart mining, together with the DSTP pipeline failure, St Barbara has determined to withdraw FY21 guidance for Simberi.

1 US$1,380 to US$1,565 per ounce @ AUD/USD 0.77

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	Craig Jetson	Managing Director & CEO		3 June 2021
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