ST BARBARA LIMITED — Investor Presentation 2012

Sep 11, 2012

St Barbara Limited ACN 009 165 066

Level 10, 432 St Kilda Road, Melbourne VIC 3004

Locked Bag 9, Collins Street East, Melbourne VIC 8003 Tel +61 3 8660 1900 Fax +61 3 8660 1999

www.stbarbara.com.au

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Chairman’s Letter to Shareholders

Attached is a letter from the Chairman to shareholders, regarding the Company’s recent announcement of the acquisition of Allied Gold Mining Plc, which will be mailed to shareholders this week.

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Ross Kennedy Executive General Manager Corporate Services Company Secretary 12 September 2012

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St Barbara Limited ACN 009 165 066 Level 10, 432 St Kilda Road, Melbourne VIC 3004 Locked Bag 9, Collins Street East, Melbourne VIC 8003 Tel +61 3 8660 1900 Fax +61 3 8660 1999 www.stbarbara.com.au

10 September 2012

Dear Shareholder

I am delighted to confirm the Company’s advice to the ASX today that the combination of St Barbara Limited and Allied Gold Mining Plc first announced on 29 June 2012, has been completed.

Allied Gold and its subsidiary companies are now wholly owned by St Barbara. Allied Gold will cease to be separately listed on stock exchanges in Australia, London and Toronto. Its Chairman and all other Directors have resigned and will not have a continuing involvement with St Barbara’s business activities. A comprehensive integration plan is now being implemented.

St Barbara is now an internationally diversified gold company. The Company has one of the largest gold reserves and resources portfolios of any mid-tier ASX listed peer, and significant production growth and exploration potential.

This acquisition has been a product of our strategy of growing long term earnings per share through the development of our own assets, exploration, and the purchase of geologically prospective assets with long reserve life and potential for strong cash generation. It is the culmination of a thorough two year evaluation of gold assets in Australasia and South East Asia with our management team rating Allied Gold as one of the best value targets, and located in a highly geologically attractive yet underexplored region.

This was verified by our management’s detailed pre-bid due diligence, including onsite visits, which gave us an excellent understanding of the business and its potential under St Barbara’s ownership and operatorship.

The strategic and financial logic behind this combination of businesses remains strong and clear:

• St Barbara’s established and proven mines in Western Australia neatly complement the high quality, long life mining and exploration assets in Papua New Guinea and the Solomon Islands.

• The combined group has financial flexibility, underpinned by St Barbara’s strong cash flow generation, to fund development and growth opportunities.

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• We are well placed to leverage our proven capabilities in developing and operating open pit and underground operations to support increased production and anticipated unit cost reductions at the Simberi and Gold Ridge operations.

• St Barbara now has a stronger pipeline of exploration targets.

St Barbara’s Managing Director and Chief Executive Officer, Tim Lehany, and his team have made good progress in recent years towards unlocking value, most notably at Gwalia and the Leonora Operations. Under Tim’s leadership the team has consistently delivered against stated production and financial targets, and we recently announced a FY12 record net profit after tax of $130 million, up 90% on the 2011 result.

This gives the Board every confidence that all at St Barbara can apply our capabilities and expertise to deliver value for shareholders, with this transaction expected to be immediately accretive to net asset value per share, and accretive to earnings per share from the 2014 financial year onwards.

We continue to believe in the scope for a re-rating of St Barbara stock on a preannouncement basis, to reflect the quality and future potential of our assets relative to our peers.

I look forward to updating you on further progress at the Company’s Annual General Meeting on 22 November 2012. More information about the merger can be found on our website at www.stbarbara.com.au.

On behalf of the Board, thank you for your continued support of St Barbara.

With best wishes,

Yours sincerely

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Colin Wise Chairman