ST BARBARA LIMITED — Earnings Release 2019

Oct 3, 2018

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Q1 September 2018 production in line with expectations and FY19 guidance

• Consolidated gold production of 98,547 ounces

• FY19 guidance of 350,000 to 375,000 ounces maintained

• Cash balance A$350 million and no debt[1]

St Barbara Limited (ASX: SBM) (the “Company”) provides the following production update for the September 2018 quarter (Q1 FY19).

Consolidated gold production was 98,547 ounces and is on track to meet FY19 guidance of 350,000 to 375,000 ounces.

Gwalia produced 62,685 ounces of gold in the quarter, in line with FY19 guidance of 245,000 to 260,000 ounces. Average milled grade for the quarter was 11.8 g/t Au (Q4 June 2018: 13.2 g/t Au)

Simberi produced 35,862 ounces of gold in the quarter, continuing the strong performance of FY18 and reflected a higher milled grade of 1.48 g/t Au and 86% recovery. FY19 guidance is maintained at 105,000 to 115,000 ounces.

Total cash at bank was $350 million 0F[1] at 30 September 2018 (30 June 2018: $343 million) after payment of dividends ($28 million), income tax ($6 million) and further investment in Peel Mining Ltd ($3 million) during the September quarter.

Production details for the September quarter are detailed in the table below. Further commentary on operations, including production costs, cash flow details and an update on the Company’s growth projects will be provided in the Q1 September 2018 quarterly report due to be released on 17 October 2018.

St Barbara Managing Director and CEO, Mr Bob Vassie, said “both operations continue to perform well, with the strong cash balance of $350 million positioning the Company to deliver on our organic growth projects and consider inorganic opportunities.”

	Production Summary	Q2 DecFY18	Q3 MarFY18	Q4 JunFY18	YearFY18	Q1 SepFY19	GuidanceFY191F2
	ProductionGwaliaozSimberiozConsolidatedozMilled GradeGwaliag/t AuSimberig/t Au	62,83536,674	56,77329,112	84,53734,899	268,428134,661	62,68535,862	245 to 260 koz105 to 115 koz
		99,50910.71.42	85,88514.21.22	119,43613.21.45	403,08912.01.35	98,54711.81.48	350 to 375 kozReserve grade2F37.51.3

• 1 Financial information unaudited, balance excludes $1.4 million restricted cash

• 2 FY19 guidance announced in Q4 June 2018 report (released 26 July 2018).

• 3 Ore Reserve grade at 30 June 2018, refer Ore Reserves and Mineral Resources Statements (released 27 August 2018).

Mr David Cotterell Manager Investor Relations Mr Tim Duncan Hinton & Associates

+61 3 8660 1959 ASX: SBM +61 3 9600 1979 ADR: STBMY

Investor Relations Mr David Cotterell Media Relations Mr Tim Duncan St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003

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