ST BARBARA LIMITED — Investor Presentation 2016

Sep 14, 2016

Presentation to Deutsche Bank Gold Corporate Day

Attached is a presentation by Bob Vassie, Managing Director and CEO, to the Deutsche Bank Gold Corporate Day in Sydney.

Investor Relations Mr Rowan Cole Company Secretary +61 3 8660 1900 Media Relations Ms Nerida Mossop Hinton & Associates +61 3 9600 1979 St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 T +61 3 8660 1900 F +61 3 8660 1999

ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

BOB VASSIE, MANAGING DIRECTOR & CEO / 15 September 2016

dbAccess Australia Gold Corporate Day

This presentation has been prepared by St Barbara Limited ("Company"). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment.

This presentation may contain forward-looking statements that are subject to risk factors associated with exploring for, developing, mining, processing and sale of gold. Forward-looking statements include those containing such words as anticipate, estimates, forecasts, should, will, expects, plans or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, and which could cause actual results or trends to differ materially from those expressed in this presentation. Actual results may vary from the information in this presentation. The Company does not make, and this presentation should not be relied upon as, any representation or warranty as to the accuracy, or reasonableness, of such statements or assumptions. Investors are cautioned not to place undue reliance on such statements.

This presentation has been prepared by the Company based on information available to it, including information from third parties, and has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained in this presentation.

The Company estimates its reserves and resources in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2012 Edition ("JORC Code"), which governs such disclosures by companies listed on the Australian Securities Exchange.

Financial figures are in Australian dollars unless otherwise noted. Financial year is 1 July to 30 June. This presentation published 15 September 2016.

• ˃ FY 2016 Results and Records

• ˃ FY 2017 Guidance

• ˃ Growth

• ˃ Resources & Reserves

• ˃ Exploration

• ˃ Conclusion

St Barbara FY16 results – turnaround complete

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1. Non IFRS measure, refer slide in appendix

2. Total Recordable Injury Frequency Rate (12 month average)

St Barbara FY16 results – turnaround complete

		June2015	Change	June2016
Share price	A$	0.57	+418%	2.95
Market cap	A$M	282	+418%	1,461
ASX m'cap rank	rank	297	+152	145
NPAT (Statutory)	A$M	40	+323%	169
Earnings per share4	A¢ /share	4	+697%	34
Return on capital2,5	%	21	+157%	54
Cashflow from op'ns	A$M	113	+115%	243
Net assets	A$M	140	+114%	301
Net debt	A$M	270	-67%	90
Reserves	Moz	4.0	=	4.0
Resources	Moz	9.2	-1%	9.1

• ˃ ASX 200 from Mar 2016
• ˃ Record profit in FY16 driven by1 :
  • ˃ 11% inc. in A$ realised gold price
  • ˃ 7% fall in A$ AISC2
  • ˃ 2% increase in overall production
• ˃ Balance sheet repaired
• ˃ Gwalia R&R upgrade3
  • ˃ Resource up 938 koz gross
  • ˃ Reserve up 490 koz gross (added @ A$30/oz)

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1. Details prior slide. 2. Non IFRS measure, refer slide in appendix. 3. Refer ASX announcement 23 August 2016 'Ore Reserves and Mineral Resources Statements 30 June 2016'

2. Basic EPS for continuing operations. 5. From continuing operations

Gwalia: Record production driven by productivity gains

8% year on year improvement, 3 key innovations

Ore passes Allows bogger to work constantly, independent of ore trucks, removes ore from fired stopes more rapidly, allowing pastefilling and adjacent stopes to be fired earlier

Continuous Remote Tele-bogging (CY16) At critical times bogger operates 24 hours a day

Underground Storage At critical times shorter waste removal turnaround time gives greater availability of trucks for taking ore to surface

FY17F AISC is midpoint of guidance, released 19 July 2016 in Q4 June 2016 Quarterly Report. June 2016 Reserve grade 8.3 g/t Au, refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

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Simberi FY14 to FY16 – improvements in all metrics

1. AISC is a non IFRS measure, refer corresponding slide in Appendix.

• 1. Mining is total material moved (ore + waste)
• 1. FY17F guidance, released 19 July 2016 in Q4 June 2016 Quarterly Report.

St Barbara's AISC1 cash margin

FY17 guidance2

• Production 340 370 koz

• AISC A$985 1,075/oz

• Exploration A$18 -22 million

• Capex A$45 53 million

Longer term

• Gwalia mine plan production to 2024

• Grade control 3 years in advance

• Ventilation project 2017- 2020 (est. A$65 million2 )

Strong cash flow with low requirements for capex

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• 1. Non-IFRS measure, refer slide in appendix
• 1. Figure approximate at +/-20% feasibility study accuracy, refer Q4 June 2016 Quarterly Report.
• 1. Average gold price July-Aug 2016 A$1,767/oz, FY17F illustrated at A$1,700/oz

St Barbara share price vs gold in A$ and US$ Indexed from 1 July 2015

Source: IRESS to 12 September 2016

• 1. http://www.asx.com.au/education/investor-update-newsletter/201601-making-money-this-year.htm
• 1. www.mywealth.commbank.com.au, 1 July 2016.

Debt, Cash Balance & Contribution from Operations

Profitable growth options

Existing opportunities

• Gwalia mine extension study well advanced

• Simberi strategic review well progressed

• Exploration in WA and PNG

Eyes open for other opportunities

• Consider sensible inorganic growth where it increases shareholder value

• Systematic evaluation process underway

Will consider

• Exploration, project, development and operating assets

• 'Investible' assets inside and outside of Australia Gwalia Deep Drilling

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Gwalia Reserves Gwalia Resources

Potential for further addition in FY17 from Northern extension and 2000-2200 mbs infill drilling

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1. Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'. Geology & Design Changes includes other minor modifying technical factors.

Gwalia - ongoing drilling program

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1. Refer ASX announcements 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016' and 'Financial Report Presentation'

Gwalia - planning on a long profitable life

Gwalia Reserves & Resources upgrade June 2016

• Reserves increased 1.6 to 1.8 Moz (net)

• Resources increased 3.3 to 3.9 Moz (net)

Upgrade supported by studies and future project

• PFS reviewed shaft options versus trucking and increased ventilation capacity

• Feasibility study underway to consider ventilation option (lowest cost and project risk, est. A$65 million2 )

• Investment decision anticipated Dec 2016

• Mine plan to 2024

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• 1. Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016' and 'Financial Report Presentation' of the same date.
• 1. Figure approximate at +/-20% feasibility study accuracy, refer Q4 June 2016 Quarterly Report.

Gwalia 2200 Deeps Extension

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1. For full explanation and results refer to ASX release 19 July 2016 'Quarterly Report June 2016'

Northern extension FY17 drilling: seeking up-plunge extent

Greater Gwalia – province exploration campaign in FY17

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• ˃ Explore reflecting sound waves off mineral formations
• ˃ Used successfully by other regional gold miners
• ˃ Q1 Gwalia, Q2 'Greater Gwalia'
• ˃ 2D/3D program, IP, and down hole sensors

For full explanation and results refer to ASX release 19 July 2016 'Quarterly Report June 2016' 'Endowments' = historical amount mined plus remaining mineral resources. 'IP' = induced polarisation

FY17 greenfields exploration – Pinjin (Western Australia)

Pinjin Project

• Located 150 km northeast of Kalgoorlie, WA, 250 southeast of Gwalia
• Comprises 1,358 km2 tenement package
• 288 holes drilled to date for a total of 14,385 m
• Further aircore and followup reverse circulation (RC) drilling planned in Q2 Dec 20161

Simberi, Papua New Guinea: maximize shareholder value

Strategic review

Broad consideration of options for PNG assets to maximize shareholder value

Sulphide Project

Potential to extend mine life by 8 years via investment in sulphide processing circuit

Exploration

• Simberi: Near mine oxide drilling & trenching
• Tatau: Drilling anomaly near historical copper- gold prospect at Mt Letam

  • Further copper- gold targets in Central Tatau as well as sulphide /oxide targets in Southwest Tatau

• Big Tabar: Historical copper-gold prospect

FY17 Exploration PNG: Mt Letam Au-Cu target, Tatau Island

St Barbara vs Comparators - FCF Yield, Reserves, Production

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Source: June 2016 quarter production and AISC from public reports, FCF = FY 2016 'implied free cash flow' at US$1,300/oz gold less AISC times production. M'cap (for share price) as at 29 Aug 2016. Average closing gold price June to Aug 2016 = US$1,322/oz, rounded for chart to US$1300/oz

Cumulative production (Moz)

AISC is a non-IFRS measure, refer corresponding slide in Appendix. Company published AISC. Source: Global Mining Research (with permission)

Great year, big future

FY16

• ˃ Record safety
• ˃ Record production
• ˃ Record profit
• ˃ Record cash flow

FY17

• ˃ Aiming to maintain production & cash flow
• ˃ Low Gwalia AISC generates high margin & cash flow
• ˃ Now looking at profitable growth options
• ˃ Working to extend Gwalia life
• ˃ Exploring Greater Gwalia and Pinjin (WA), Simberi, Tatau, Big Tabar (PNG)

March 2016: Rainbow over Hoover House and Gwalia pit.

Consolidated Production, Costs, Guidance Summary

ProductionSummary	Year	Q1 Sep	Q2 Dec	Q3 Mar	Q4 Jun	Year	Guidance	Guidance
Consolidated	FY15	FY16	FY16	FY16	FY16	FY16	FY16	FY17
Production
Gwaliaoz	248,142	72,388	63,533	66,147	65,098	267,166	260 to 265 koz3	245 to 265 koz
Hills5Kingoftheoz	49,677	9,112	-			9,112	9 koz4	-
Simberioz	79,568	29,539	28,379	25,433	26,935	110,286	100 to 110 koz6	95 to 105 koz
Consolidatedoz	377,387	111,039	91,912	91,580	92,033	386,564	369 to 384 koz	340 to 370 koz
MinedGrade
							[2]Reserve grade	[2]Reserve grade
Gwaliag/t	8.9	9.7	7.9	10.2	9.3	9.3	9.4	8.3
Simberig/t	1.23	1.22	1.22	1.35	1.18	1.26	(oxide) 1.3	(oxide)1.3
TotalCashOperating
Costs[1]
Gwalia$/oz	642	553	665	587	638	609	n/a	n/a
Hills5Kingofthe$/oz	1,112	893	5-	-	-	893	n/a	n/a
Simberi$/oz	1,336	1,119	1,098	1,198	1,164	1,143	n/a	n/a
Consolidated$/oz	850	731	799	757	792	765
Cost[1]All-InSustaining
Gwalia$/oz	841	692	846	770	836	783	800 to 820	850 to 910
Hills5Kingofthe$/oz	1,103	964	5-	-	-	964	-	-
Simberi$/oz	1,464	1,252	1,319	1,404	1,266	1,293	1,350 to 1,430	1,330 to 1,490
Consolidated$/oz	1,007	863	992	947	960	933	960 to 1,000	985 to 1,075
Capex
GwaliaA$M							29 to 32	40 to 47
SimberiA$M							10 to 12	5 to 6
ConsolidatedA$M							39 to 44	45 to 53

1. Non-IFRS measure, refer corresponding slide in Appendix.

2. Ore Reserve grade at 30 June 2015, refer Ore Reserve and Mineral Resources Statement released 25 August 2015. Ore Reserve grade at 30 June 2016, refer Ore Reserve and Mineral Resources Statement released 23 August 2016.

3. Final Gwalia FY16 guidance revised 7 April 2016 (Q3 Mar 2016 production report).

4. Stockpiled as at 30 June 2015.

5. King of the Hills ceased mining in April 2015 and ceased processing in September 2015. It was sold in October 2015 (refer ASX announcement 16 October 2015).

6. Final Simberi FY16 guidance revised 8 January 2016 (Q2 Dec 2015 production report).

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Non IFRS measure, refer corresponding slide in Appendix

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St Barbara share price vs gold in A$ and US$

Source: IRESS to 12 Sep 2016

1. http://www.asx.com.au/education/investor-update-newsletter/201601-making-money-this-year.htm

2. www.mywealth.commbank.com.au, 1 July 2016.

FY16 Financial Summary (A$)1

			FY16	FY15
Gold price	Averagegold price realised	A$/oz	1,595	1,439
	All-In Sustaining Cost 2	A$/oz	933	1,007
Result	˃Statutory profit after tax	A$M	169	40
	2˃Underlying netprofit after tax	A$M	127	42
	EBITDA 2˃	A$M	298	168
	Underlying EBITDA 2˃	A$M	286	184
Cash flow	˃Cash flows from operatingactivities	A$M	243	113
	3˃Cash flows after funding capex	A$M	197	63
	Debt repayments 1˃	A$M	142	71
Ratios	˃Basic earnings per share(from continuing operations)	$ps	0.34	0.04
	Return on capital 2˃(from continuing operations)	%	54	21

1. Principal repayments from cash flow statement

2. Non-IFRS measure, refer appendix..

3. Cash flows from operating activities less cash outflows for investing activities (PPE, development, capitalised exploration)

Key changes to underlying profit1 FY15 to FY16

A$ Million

Cash movement FY16

Reportable segment profit/ (loss) before tax1

Cash contribution from operations1, 2

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• 1. Results for Leonora include King of the Hills (which ceased production in the September 2015 quarter) operating results, but exclude significant items relating to the King of the Hills sale.
• 1. Non-IFRS measure of site operating cash flow, refer page 4 of 2016 Directors' and Financial Report

US Senior Secured Notes

• ˃ US$250 million issued March 2013, US$168 million balance at 30 Jun 2016
• ˃ Additional US$40 million repurchased 20 July 2016, balance at 31 Aug 2016 is US$128 million, US$122 million repurchased since 1 June 2015
• ˃ 6 monthly interest payments in arrears each April and October
• ˃ Interest payments fixed at 8.875% p.a., matures April 2018

Hedging

• ˃ 26,000 ounces of remaining gold forward contracts to be delivered in monthly instalments to December 2016 at US$1,261 per ounce (this hedge announced 18 March 2016, initially 50,000 ounces)
• ˃ 50,000 ounces of gold forward contracts to be delivered in monthly instalments between January and June 2017 at US$1,338 per ounce (this hedge announced 4 July 2016)

Three moving parts of capital management

Indicative financial impact. All figures approximate A$M

• ˃ Anticipate strong free cash flows of FY16 to continue in FY17
• ˃ Debt reduction still a focus in short term
• ˃ Greater visibility of cash requirements following outcome of Simberi strategic review
• ˃ Potential Gwalia investment can be funded from cash flow

Conceptual illustration of Gwalia ventilation solution

Conceptual illustration only, studies underway will determine final design

Gwalia Mineral Resource Classification & Reserves June 2015 and June 2016

Gwalia Ore Reserve	Proved (kt, g/t, koz)				Probable (kt, g/t, koz)		TOTAL (Proved & Probable, kt, g/t, koz)
2016	2,286	9.6	702	4,510	7.6	1,105	6,795	8.3	1,808
2015	2,100	9.1	614	3,190	9.6	980	5,290	9.4	1,594

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Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Exploration FY17 Guidance

Exploration:

Guidance A$18 to A$22 million

A$10- A$12 million, Gwalia

• ˃ Gwalia Deep Drilling infill + Northern Extension
• ˃ Gwalia Seismic

A$8- A$10 million:

• ˃ WA (30%) Pinjin complete drilling
• ˃ PNG (70%)
  • ˃ Simberi Oxides near mine
  • ˃ Tatau Copper- Gold
  • ˃ Tatau Oxides/Sulphides

Gwalia exploration FY171

• 2000- 2200 mbs

• Northern extension

• 'Greater Gwalia' seismic campaign

  • Leonora province

FY162

• 1800 2000 mbs

• Southern Extension

• Discovery of northern extension

1. Refer ASX announcements 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016' and 'FY16 Financial Report Presentation'.

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1. For full explanation and results refer to ASX release 19 July 2016 'Quarterly Report June 2016'

Simberi: Reserve and Resource changes

Resources - Oxide

Reserves - Oxide

Resources - Sulphide

Key Changes

• ˃ New sulphide resource model prepared for Sulphide Project PFS
  • ˃ incorporating more sophisticated understanding of sulphur content
  • ˃ some low grade areas classified non-economic and removed, slight reduction in assumed gold price
• ˃ Oxide Reserves: 'Transitional' ore previously classified as Oxide reclassified as Sulphide at June 2016
• ˃ Nil impact on oxide mine life or Sulphide Project PFS parameters

Gwalia - variances to Ore Reserve Grade FY15 to FY16 1

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1. Refer ASX announcement released 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Major variances to Ore Reserves FY15 to FY16 1

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1. Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Major variances to Mineral Resources FY15 to FY161

1. Refer ASX announcement 23 August 2016 titled 'Ore Reserves and Mineral Resources Statements 30 June 2016'.

Ore Reserves Summary as at 30 June 2016

Project		Proved			Probable		Total
	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Aug/t	koz
Gwalia (WA)	2,286	9.6	702	4,510	7.6	1,105	6,795	8.3	1,808
Tower Hill (WA)	-	-	-	2,572	3.7	306	2,572	3.7	306
Simberi Oxide (PNG)	4,687	1.3	194	9,407	1.3	381	14,094	1.3	576
Simberi Sulphide (PNG)	154	3.0	14	13,402	3.0	1,307	13,556	3.0	1,321
Total All Projects	7,127	4.0	910	29,891	3.2	3,099	37,017	3.4	4,011

Notes

• 1. Ore Reserves are based on a gold price of Gwalia (A$1,350/oz), Tower Hill (A$1,250/oz), Simberi (US$1200/oz)
• 1. Mineral Resources are reported inclusive of Ore Reserves.
• 1. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding.
• 1. Details relating to each of the estimates are contained in the 2016 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/

Competent Person Mr Tim Richards is entitled to participate in St Barbara's long term incentive plan, details of which are most included in the 2016 directors' and Financial Report released to the ASX on 23 August 2016. Increase in Ore Reserves was one of the performance measures under that plan until 30 June 2016. No incentive was paid in financial year 2016 under this performance measure.

Full details are contained in the ASX release dated 23 August 2016 'Ore Reserves and Mineral Resources Statements 30 June 2016' available at www.stbarbara.com.au.

Mineral Resources Summary as at 30 June 2016

Project		Measured			Indicated			Inferred			Total
	Tonnes(k)	Aug/t	koz	Tonnes(k)	Aug/t	koz	Tonnes(k)	Aug/t	koz	Tonnes (k)	Aug/t	koz
Gwalia(WA)	4,951	7.7	1,232	11,773	6.8	2,584	570	4.4	80	17,294	7.0	3,896
Tower Hill(WA)	-	-	-	4,604	3.9	574	489	3.3	51	5,093	3.8	625
Simberi Oxide(PNG)	6,817	1.1	232	16,686	1.0	532	5,925	1.0	187	29,428	1.0	951
Simberi Sulphide(PNG)	1,583	1.2	58	46,382	1.7	2,543	19,885	1.6	1,003	67,850	1.7	3,607
Total All Projects	13,351	3.5	1,522	79,445	2.4	6,233	26,869	1.5	1,321	119,665	2.4	9,079

Notes

1. Mineral Resources are reported inclusive of Ore Reserves

2. Cut-off Grades Leonora: Gwalia Deeps (2.5 g/t Au), Tower Hill (2.5 g/t Au), Simberi Oxide (0.4 g/t Au), Simberi Sulphide (0.6 g/t Au)

3. Simberi Mineral Resources are reported constrained by a US$1,800/oz pit shell

4. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding.

5. Details relating to each of the estimates are contained in the 2016 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/

Full details are contained in the ASX release dated 23 August 2016 'Ore Reserves and Mineral Resources Statements' 30 June 2016' available at www.stbarbara.com.au.

Shareholding Structure

Significant Shareholders 1

Van Eck	12.7%	Argonaut	James Wilson
M&G Investment Mgt	8.4%	Canaccord	Reg Spencer
Hunter Hall	6.8%	CreditSuisse	Mike Slifirski
Vinva	5.2%	Deutsche Bank	Matt Hocking
		Macquarie	Ben Crowley
2Institutional Shareholders	83%	Petra Capital	Brett McKay
Shares on issue	497M

Approved Depositary Receipts (ADR) are trading in USA through BNY Mellon (ADR OTC Code 'STBMY')

1. As notified by substantial shareholders to 12 September 2016

Broker Research Coverage

1. As at 15 Aug 2016

Board of Directors

Tim Netscher Chairman– Non Executive

Appointed Director February 2014

Appointed Chainman July 2015

Mr Netscher is an experienced international mining executive with extensive operational, project development, and transactional experience and expertise in senior executive management roles. Mr Netscher's experience covers a wide range of resources including nickel, coal, iron ore, uranium and gold and regions including Africa, Asia and Australia. Mr Netscher is a director of ASX listed Gold Road Resources Limited and Western Areas Limited.

Bob Vassie Managing Director and CEO

Appointed July 2014

Mr Vassie is a mining engineer with over 30 years international mining industry experience, including 18 years with Rio Tinto in a range of senior management roles. He has particular experience in operations management, resource development strategy, mine planning, feasibility studies, business improvement, corporate restructuring, and strategic procurement.

David Moroney Director– Non Executive

Appointed March 2015

Mr Moroney is an experienced finance executive with more than 20 years' experience in senior corporate finance roles, including 15 years in the mining industry, and extensive international work experience with strong skills in finance, strategic planning, governance, risk management and leadership.

Mr Moroney is an independent non-executive director of non-ASX listed Geraldton Fishermen's Co-operative Ltd and WA Super, Western Australia's largest public offer superannuation fund.

Kerry Gleeson Director– Non Executive

Appointed May 2015

Ms Gleeson is an experienced corporate executive with over 20 years boardroom and senior management experience across Australia, UK and the US, in a variety of industries including mining, agriculture, chemicals, logistics and manufacturing. A qualified lawyer in both UK and Australia, she has significant expertise in complex corporate finance and transactional matters, and in corporate governance in Australian and international businesses.

Executive Leadership Team

Bob Vassie Managing Director and CEO

Appointed 2014

Mr Vassie is a mining engineer with over 30 years international mining industry experience, including as Managing Director and CEO of Inova Resources Limited (formerly Ivanhoe Australia Limited) and 18 years with Rio Tinto in a range of senior management roles.

He has particular experience in operations management, resource development strategy, mine planning, feasibility studies, business improvement, corporate restructuring, and strategic procurement.

Garth Campbell-Cowan Chief Financial Officer

Joined 2006

Garth is a Chartered Accountant with 30 years experience in finance and management positions across a number of different industries. Garth is responsible for the Group's Finance function, covering financial reporting and accounting, treasury, taxation, business analysis, capital management, procurement and information technology.

Prior to joining St Barbara, he was Director of Corporate Accounting at Telstra and has held senior finance leadership roles with WMC, Newcrest Mining and ANZ.

Exploration Results

The information in this presentation that relates to Exploration Results for Simberi and Gold Ridge is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Mustard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this presentation that relates to Exploration Results for Gwalia and the Leonora region is based on information compiled by Mr Robert Love, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Love is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Love consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Mineral Resource and Ore Reserve Estimates

The information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the report titled 'Ore Reserves and Mineral Resources Statements 30 June 2016' released to the Australian Securities Exchange (ASX) on 23 August 2016 and available to view at www.stbarbara.com.au and for which Competent Persons' consents were obtained. Each Competent Person's consent remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 23 August 2016 and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcement.

Competent Person Tim Richards is entitled to participate in St Barbara's long term incentive plan, details of which are included in the 2016 Directors' and Financial Report released to the ASX on 23 August 2016

Full details are contained in the ASX release dated 23 August 2016 'Ore Reserves and Mineral Resources Statements 30 June 2016' available at www.stbarbara.com.au.

Non-IFRS Measures

We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospectsfor future performance.

Cash operating costs	˃CalculatedaccordingtocommonminingindustrypracticeusingTheGoldInstitute(USA)ProductionCostStandard(1999revision).
All-In Sustaining Cost	˃All-InSustainingCostisbasedonCashOperatingCosts,andaddsitemsrelevanttosustainingproduction.Itincludessome,butnotall,ofthecomponentsidentifiedinWorldGoldCouncil'sGuidanceNoteonNon-GAAPMetrics-All-InSustainingCostsandAll-InCosts(June2013).
EBIT	˃EBIT is earnings before interest revenue, finance costs and income tax expense. It includes revenuesand expenses associated with discontinued operations.
EBITDA	˃EBITDA is EBIT before depreciation and amortisation. It includes revenues and expenses associatedwith discontinued operations.
Net debt	˃netdebtisinterestbearingborrowingslesscashandcashequivalents
Return on capital	˃Returnoncapitalemployed=EBITaverage(totalequity+netdebt)
	˃Refer2016FinancialReport(p3)fordetails,availableatwww.stbarbara.com.au
Significant Items	˃ItemsincludedinIFRSNetProfitAfterTaxthattheBoardandManagementconsidermaynotbeindicativeof,orareunrelatedto,coreoperatingresults(suchasprofitorlossongoldoptions,orthesaleoftenementrights)
	˃Refer2016FinancialReport(p3)fordetails,availableatwww.stbarbara.com.au
Underlying net profit/(loss)	˃Net profit after tax excludingidentified significant items
after tax	˃Refer 2016 Financial Report (p3) for details, available at www.stbarbara.com.au

Investor Relations Enquiries

Rowan Cole Company Secretary Garth Campbell-Cowan Chief Financial Officer

T: +61 3 8660 1900

E: info@stbarbara.com.au

St Barbara Board and executive June 2016 at Simberi. L to R: Garth Campbell-Cowan (CFO), David Moroney (Non-Executive Director), Bob Vassie (MD&CEO), Tim Richards (GM Simberi), Kerry Gleeson (Non-Executive Director), Wayne Schiller (Simberi Ops Manager), Tim Netscher (Non-Executive Chairman)