ST BARBARA LIMITED — Investor Presentation 2017

Feb 1, 2017

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ASX Release / 2 February 2017
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Presentation to Sydney Mining Club

Attached is a presentation by Bob Vassie, Managing Director and CEO, to the Sydney Mining Club today.

Investor Relations Mr Rowan Cole Company Secretary +61 3 8660 1900 Media Relations Mr Tim Duncan Hinton & Associates +61 3 9600 1979 St Barbara Limited Level 10, 432 St Kilda Road, Melbourne VIC 3004 T +61 3 8660 1900 F ACN 009 165 066 Locked Bag 9, Collins Street East, Melbourne VIC 8003 W www.stbarbara.com.au

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

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BOB VASSIE, MANAGING DIRECTOR & CEO / 2 February 2017
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Sydney Mining Club Managing Director & CEO Presentation

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Disclaimer
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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 1 February 2017

2 / Sydney Mining Club 2 February 2017

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Outline
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• Introduction

• Company Overview

• The Turnaround Story

• Gwalia 105 years young

• Exploration & Growth

• Gold is fun

St Barbara Leonora Operations : Overall winners for the second year running in CMEWA Underground Mine Emergency Response An open pit at Simberi Operation, Papua New Guinea Competition, November 2016

3 / Sydney Mining Club 2 February 2017

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Bob Vassie - Introduction
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• L: Directors and management site visit to Simberi, June 2016. L to R: Garth Campbell Cowan (CFO), David Moroney (Director), Bob Vassie (MD&CEO), Tim Richards (General Manager Simberi Operations), Kerry Gleeson ( Director)

• R: 1 Mile deep at Gwalia , December 2016. L to R: Kous Kirsten (General Manager Leonora Operations), Bob Vassie (MD&CEO), Tim Netscher (Chairman)

4 / Sydney Mining Club 2 February 2017

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… and Bob on annual leave …
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Variety Club Queensland 2016 Bash

5 / Sydney Mining Club 2 February 2017

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St Barbara’s history
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2006 Name changed to St Barbara Ltd

2008 Gwalia commissioned

2005

Leonora and Southern Cross acquired from Sons of Gwalia administrators & Meekatharra sold

2011 King of the Hills commissioned

Gold production, Meekatharra, WA

1991 Name changed to St Barbara Mines Ltd

Mineral exploration in WA

2012 Allied Gold Ltd acquired Inc. Simberi and Gold Ridge

2013 Southern Cross sold

1969

Incorporated as Endeavour Oil

2016 FY16 record safety, production, profit

2015

Gold Ridge sold, King of the Hills sold

6 6 / Sydney Mining Club 2 February 2017

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Overview of operations
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• ASX 200 listed Company (SBM), founded 1969 Consolidated production

• • Shares on issue 497 M • FY16 387 koz @ AISC[4] A$933/oz

• • Market Cap[2 ] A$1,159 M • FY17F[3] 360 koz @ AISC A$990/oz

• • ADR OTC code STBMY • Ore Reserves June 2016 4.0 Moz[1] • Mineral Resources June 2016 9.1 Moz[1]

• Simberi

• Leonora

• • Gwalia underground mine • FY16 production 267 koz @ AISC A$783/oz

• • FY17F[3] production Simberi 260 koz @ AISC A$833/oz • Open pit mine • FY16 production 110 koz

• Exploration Australia • FY17F[3] prod’n 100 koz

• • Greenfields and brownfields exploration Leonora portfolio in Australia & PNG

• • Near mine targets

• JV with Newcrest in PNG

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7 / Sydney Mining Club 2 February 2017
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1. Refer ASX announcement 23 August 2016 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2016’. 2. As at close 27 Jan 2017, A$2.33ea . 3. FY17F is midpoint of guidance, released 19 July 2016 in Q4 June 2016 Quarterly Report, refined 18 January 2017 in Q2 December 2016 Quarterly Report. 4. Non IFRS measure, refer corresponding slide in Appendix

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New MD & CEO July 2014 – decisions, decisions….
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FY14 cash movement[1 ]

Assessment

-

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140 -71
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-39 -21 -42 Included redundancies $3M, corporate royalties $9M -55

Included repayments of the gold prepayment facility

Simberi ˃ make profitable or stop

˃ Gold Ridge stabilize, minimize spend, divest

˃ Corporate ‘right size’

˃ Exploration reduce spend, focus on near-mine

˃ ‘turn up taps’

Gwalia

Leonora Simberi Gold Ridge Exploration Corporate Debt (inc. interest royalties) & financing

1. Non-IFRS measure, selected cash movement items from ASX announcement 27 August 2014 ‘Presentation on the FY14 Financial Report‘

8 / Sydney Mining Club 2 February 2017

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Record production & costs for the Group
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AISC [1 ] 1,340
(A$/oz)
1,007
933
Production (koz)
387
377
368
9
46 50 110
80
70
45 267
248
215
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FY14 FY15 FY16
Gwalia Simberi King of the Hills Gold Ridge
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1. Non IFRS measure, refer slide in appendix

9 / Sydney Mining Club 2 February 2017

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St Barbara share price vs US$ gold and XGD - % change
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3000%
Gwalia Top performing stock in the
ASX 200 in FY2016 [2]
A rich history with a bright future
Joined ASX 200
2500%
Top performing stock in the ASX
300 in CY2015 [1]
2000%
SBM 1875%
Joined ASX 300
1500%
Sold Gold
1000%
Ridge
Simberi cash
positive
500%
XGD 88%
0% A$ gold 15%
US$ gold -9%
-500%
1 Jul 14 1 Oct 14 1 Jan 15 1 Apr 15 1 Jul 15 1 Oct 15 1 Jan 16 1 Apr 16 1 Jul 16 1 Oct 16 1 Jan 17
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Source: IRESS to close 20 Jan 2017

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.

10 / Sydney Mining Club 2 February 2017

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FY16 Financial Summary
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			FY16	FY15
Gold price	Average gold price realised	A$/oz	1,595	1,439
	All-In Sustaining Cost1	A$/oz	933	1,007
Result	Statutory profit after tax	A$M	169	40
	Underlying net profit after tax1	A$M	127	42
Cash flow	Cash flows from operating activities	A$M	243	113
	Debt repayments2	A$M	142	71
Ratios	Basic earnings per share (from continuing operations)	$ps	0.34	0.04
	Return on capital employed3 (from continuing operations)	%	54	21

1. Non-IFRS measure, refer appendix 2. Principal repayments from cash flow statement, 2016 Annual Report 3. 2016 Annual Report, p3

11 / Sydney Mining Club 2 February 2017

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St Barbara vs Comparators FCF Yield & EV/Reserves
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EV/Reserve oz
(A$/oz)
A$0
Resolute
A$200
St Barbara
Oceana Gold
A$400
Evolution
Saracen
A$600
Regis
A$800
Bubble size =
estimated
A$1,000
production rate Northern Star
(koz p.a.)
A$1,200
0% 5% 10% 15% 20% 25% 30%
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FCF Yield (FCF/EV)

Source: Bell Potter 12 January 2017 (with permission), when SBM = $2.21/share, EV = $1.1B, spot gold = A$1,605/oz EV = Market cap + net debt. AISC margin = A$ spot gold less reported AISC (SBM = A$935 /oz Q1 Sep 2016). Production is gold ounces only, by-product credits are accounted for in AISC. Implied free cash flow = AISC margin x estimated annualised production, and is an estimate only.

12 / Sydney Mining Club 2 February 2017

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Gold positioning end 2016
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$10,000 EV/Production ( US$/oz)
$8,000 AEM
TXG
RRS
NCM
$6,000 OGC
ABX
GG NEM
$4,000
THO
EVN
NST
$2,000 SBM
ACA
Bubble size = Production FCF (US$/oz)
$0
$0 $100 $200 $300 $400 $500 $600 $700
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Source: Global Mining Research (GMR), 1 February 2017, with permission

13 / Sydney Mining Club 2 February 2017

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Balance sheet positioned for growth
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Net Debt / Net Cash [1 ]
A$M $31 million
50 A$M Net Cash
0
-15
-50
-92
-100
-134
-150
-199
-200
-243
-250 -270
-311 -312
-300 -320
-350
FY15 FY15 FY15 FY15 FY16 FY16 FY16 FY16 FY17 FY17
Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec
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1. Non-IFRS measures, refer Appendix for details

14 / Sydney Mining Club 2 February 2017

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Continued safety success
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Total Recordable Injury Frequency Rate[1 ]

Safety

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9.0
6.0
5.0
4.1
2.1
1.8
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• Record FY16 TRIFR of 2.1

• Record safety performance of 1.8 TRIFR[1 ] in H1 FY17

• Overall winners for the second year running in CMEWA Underground Mine Emergency Response Competition[2]

FY 12 FY 13 FY 14 FY 15 FY 16 Dec-16

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

15 / Sydney Mining Club 2 February 2017

1. The Chamber of Minerals and Energy Western Australia, 5-7 November 2016, Kalgoorlie

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Gender Diversity
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• The overall pay equity gap at St Barbara reduced from 43% in 2007 to 16% in 2016 (compared to 23% nationally and 16% for the mining industry[1] )

• Nil gender pay gap in ‘like-for-like’ roles[2]

• Bob Vassie, MD & CEO, appointed in 2014 as one of 32 CEO Ambassadors of the Workplace Gender Equality Agency pay equity campaign

• Certified by WGEA as an Employer Of Choice For Gender Equality in 2014, 2015 & 2016, one of three resources companies currently certified

• WGEA Australia’s gender equality scorecard Nov 2016,

www.wgea.gov.au/sites/default/files/2015-16-gender-equality-scorecard.pdf ,

16 / Sydney Mining Club 2 February 2017

1. Refer St Barbara Corporate Governance Statement for details, www.stbarbara.com.au/about_us/governance

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Gwalia

A rich history with a bright future

17 / Sydney Mining Club 2 February 2017

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Gwalia- one of Australia’s most historic mines
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1896 - Welsh syndicate discovers the Gwalia Reef.

1897 - Herbert Hoover buys mine for Bewick Moreing

1929 - Hoover becomes 31[st] President of USA 1963 - Mine closes 4 days before Christmas having produced more than 2.5 Moz over 67 years

1983 - Lalor Brothers purchase mine and open cut mining commences one year later.

• 1999 - Open pit finishes and the Hoover Decline is established for underground mining.

• 2002 - Mine placed in Care and Maintenance having produced another 1.3 Moz

2005 - Mine acquired by St Barbara Ltd 2008 - SBM pours first gold in Oct 2008 2009 - SBM first 100koz in Sep 2009 2014 - 1,000,000 oz produced since 2005

18 / Sydney Mining Club 2 February 2017

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Exploration: Gwalia
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For full explanation and results refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’

19 / Sydney Mining Club 2 February 2017

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Gwalia Deeps Exploration – Northern Extension
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For full explanation and results refer to ASX release 19 Oct 2016 ‘Quarterly Report September 2016’

20 / Sydney Mining Club 2 February 2017

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Record production driven by productivity gains
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Mined Grade
9.3
(g/t Au) 8.8 8.9
8.2 8.4
6.9
Reserve Grade
6.3
5.7 8.3 g/t Au June 2016
265
267
Production 255
(koz) 248
214
185 183
AISC
(A$/oz) 940
841 833
131 783
109
83
FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 F
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FY16 continued improvement

• FY 16 production of 267 koz (FY15 248 koz)

• AISC of A$783/oz (FY15 A$841/oz)

FY17 guidance

• Production 255 – 265 koz

• AISC A$815 – A$850 per ounce

• Capital expenditure A$44 to A$50M

AISC is a Non-IFRS measure, refer appendix . FY17F AISC is midpoint of guidance, released 19 July 2016 in Q4 June 2016 Quarterly Report., refined 18 Jan 2017 in Q2 December 2016 Quarterly Report. June 2016 Reserve grade 8.3 g/t Au, refer ASX announcement released 23 August 2016 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2016’.

21 / Sydney Mining Club 2 February 2017

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FY16 vs FY15
8% year on year improvement with 3 key innovations
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Ore passes

Allows bogger to work constantly, independent of ore trucks, removes ore from fired stopes more rapidly, allowing paste-filling 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

22 / Sydney Mining Club 2 February 2017

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St Barbara vs Global Gold Miners – Q4 June 2016 US$ AISC
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Q4 June 2016 Global gold production – AISC
1,400
53 companies, 196 mines
1,200
1,000 St Barbara US$716/oz AISC
(inc. Gwalia US$644/oz AISC)
800
600
400
200
0
0 2 4 6 8 10
Asia Africa Australia North America South America
AISC (US$/oz)
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Cumulative production (Moz)

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

23 / Sydney Mining Club 2 February 2017

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Gwalia Extension Project
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Conceptual illustration only, studies underway will determine final design

24 / Sydney Mining Club 2 February 2017

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Gwalia Extension Project – PAF Isometric Fixed Plant View
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Conceptual illustration only, studies underway will determine final design

25 / Sydney Mining Club 2 February 2017

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PAF Isometric View
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1
2
1 Bogging Location 1
2 Bogging Location 2
Current Paste Infrastructure
Proposed PAF Fixed Plant
Waste Capacity
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Conceptual illustration only, studies underway will determine final design

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Simberi Reliable cash producer | Strategic Review complete

27 / Sydney Mining Club 2 February 2017

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Simberi FY14 to FY16 – improvements in all metrics
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Mining
Consecutive years of >50% improvement
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All-in sustaining cost
(A$/oz)
2,300
1,464
1,293
9,898
6,293
Mining 4,151
(kt) 110
80
Production
(koz)
44
FY14 FY15 FY16
Production Mining
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Processing

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3.3 Mt processed in FY16, 29% improvement Y on Y
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Mining is total material moved (ore + waste). AISC is a non IFRS measure, refer corresponding slide in Appendix.

28 / Sydney Mining Club 2 February 2017

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Simberi FY14, FY15 and FY16
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SIMBERI MINE OUTPUT

SIMBERI GOLD PRODUCTION

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9,899 kt
6,293 kt
4,151 kt
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110 koz
80 koz
44 koz
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FY14 FY15 FY16
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FY14 FY15 FY16
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SIMBERI MILL THROUGHPUT

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3,315 kt
2,670 kt
1,713 kt
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FY14
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AISC [1] (A$/oz)
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2,300
1,464
1,293
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FY16
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FY14
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FY15
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FY15 FY16

1. Non IFRS measure, refer corresponding slide in Appendix

29 / Sydney Mining Club 2 February 2017

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Simberi strategic review complete
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• St Barbara to retain and operate Simberi Operations[1]

• Option and Farm-in Agreement (joint venture) with Newcrest for joint copper-gold porphyry exploration on nearby islands

• Focused exploration underway to improve the economics of possible future sulphide expansion

• For full explanation refer to ASX release ‘Simberi Strategic Review Concluded ’14 November 2016

30 / Sydney Mining Club 2 February 2017

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St Barbara’s organic growth opportunity
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31 / Sydney Mining Club 2 February 2017

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Exploration – greenfields projects - summary
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• Tatau Island, PNG

• Pinjin, WA

• • Greater Gwalia, WA

For full explanation and results refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’

32 / Sydney Mining Club 2 February 2017

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Exploration: PNG – Tatau Island
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Right – drilling at Monun, Simberi, October 2015. For details refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’

33 / Sydney Mining Club 2 February 2017

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Exploration: Pinjin, Leonora WA
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The Pinjin Project is located 150km northeast of Kalgoorlie WA, comprising a large tenement package of 1,358 km[2 ]

For full explanation and results refer to ASX release 19 October 2016 ‘Quarterly Report September 2016’

34 / Sydney Mining Club 2 February 2017

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Seismic Exploration campaign
Greater Gwalia Province in FY17+
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• Use sound waves reflecting off mineral formations to explore Greater Gwalia

• 1H FY17 calibration and focus on Gwalia to gain a greater understanding of deposit

• Used successfully by other WA Gold miners

• 2H FY17+ exploration of Greater Gwalia Province

• Leading edge use of sensors down deep drill holes

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For full explanation and results refer to ASX release 19 July 2016 ‘Quarterly Report June 2016’

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Gold is Fun!
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… whether at Leonora …

… or Simberi …

36 / Sydney Mining Club 2 February 2017

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The size of Gold
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As at December 2015

1 Million Ounce Bar

(a model!)

37 / Sydney Mining Club 2 February 2017

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Australian Gold Mining in context
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“Rush: Australia’s 21[st] Century Gold Industry”

• Tells the story of Australia’s worldleading gold industry and the ongoing contribution it makes to Australia's economic and social

• Published by Minerals Council of Australia and the Chamber of Minerals and Energy WA

• View at: http://bit.ly/mcagoldbook

38 / Sydney Mining Club 2 February 2017

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Australian Gold Industry
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39 / Sydney Mining Club 2 February 2017

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Global Gold Reserves
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40 / Sydney Mining Club 2 February 2017 http://bit.ly/mcagoldbook

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Gold Exploration
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41 / Sydney Mining Club 2 February 2017 http://bit.ly/mcagoldbook

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Commodity prices still well below peaks…
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Index 2014/15 = 100
250
200
150
100
50
0
commodity prices base metals prices bulk commodities
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Source: Reserve Bank of Australia, Index of Commodity Prices, July 2016, Table I2, released on 2 August 2016

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But resources share of exports rising…
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%
70
60
50
40
30
20
10
0
Rural Resource Manufacturers Services
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Source: Reserve Bank of Australia, International Trade and Balance of Payments Statistics, Table I1 to March 2016.

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Value of resources exports and employment rising…
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300 240
250 200
200 160
150 120
100 80
50 40
0 0
Employment (LHS) Exports (RHS)
Exports A$B
Employment '000
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Source: Australian Bureau of Statistics, Cat No. 6291 Labour Force, Australia, Detailed, Quarterly ; Department of Industry, Innovation and Science, Resources and Energy Statistics ; and Resources and Energy Quarterly – December 2016 .

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Conclusion
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Pinjin, WA
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Appendices
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Gwalia processing plant, Leonora WA

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Consolidated Production, Costs, Guidance Summary
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Production Summary Consolidated	Production Summary Consolidated	Q4 Jun FY16	Year FY16	Q1 Sep FY17	Q2 Dec FY17	Guidance FY173
Production
Gwalia	oz	65,098	267,166	67,118	70,925	255 to 265 koz (previously 245 to 265 koz1)
King of the Hills4	oz	-	9,112	-	-	-
Simberi	oz	26,935	110,286	25,429	28,057	95 to 105 koz
Consolidated	oz	92,033	386,564	92,547	98,982	350 to 370 koz (previously 340 to 370 koz)
Mined Grade						Reserve grade[2]
Gwalia	g/t	9.3	9.3	10.4	11.9	8.3
Simberi	g/t	1.18	1.26	1.05	1.13	1.3
Total Cash Operating Costs[1]
Gwalia	$/oz	638	609	580	546	n/a
King of the Hills4	$/oz	-	893	-	-	-
Simberi	$/oz	1,164	1,143	1,247	1,161	n/a
Consolidated	$/oz	792	768	763	721
All-In Sustaining Cost[1]
Gwalia	$/oz	836	783	774	716	815 to 850 (previously 850 to 910)
King of the Hills4	$/oz	-	964	-	-	-
Simberi	$/oz	1,266	1,293	1,359	1,277	1,330 to 1,490
Consolidated	$/oz	960	933	935	876	950 to 1,030 (previously 985 to 1,0753)

1. Non-IFRS measure, refer Appendix.

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

3. FY17 guidance announced in Q4 June 2016 quarterly report (released 19 July 2016), updated for Gwalia on 18 Jan 2017 in Q2 December 2016 Quarterly Report.

4. 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).

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Ore Reserves Summary as at 30 June 2016
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Project	Proved	Proved	Proved	Probable	Probable	Probable	Total	Total	Total
	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/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)

2. Mineral Resources are reported inclusive of Ore Reserves.

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

4. 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 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.

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Mineral Resources Summary as at 30 June 2016
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Project	Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/t	koz	Tonnes (k)	Au g/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.

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Strong institutional share register
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Shareholding Structure

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Not analysed Institutional USA 36%
10%
84%
Australia
Non
25%
Institutional
6%
UK 13%
Other 20%
Non
Institutional
6%
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Analysis and geographic spread of shareholders as at 12 Jan 2017

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Significant Shareholders & wide broker coverage
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Significant Shareholders[1 ]

Research Coverage

Van Eck Associates 16% M&G Investment Mgt 8% Vinva Investment Mgt 5% Institutional Shareholders[ 2] 84% Shares on issue 497M

Argonaut James Wilson Canaccord Reg Spencer Credit Suisse Mike Slifirski Deutsche Bank Matt Hocking Global Mining Research David Cotterell Macquarie Ben Crowley

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

1. As notified by substantial shareholders to 30 Jan 2017 2. As at 12 Jan 2017

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Board of Directors
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Tim Netscher Chairman– Non Executive

Appointed Director February 2014 Appointed Chairman 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.

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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.

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Executive Leadership Team
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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.

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Competent Persons Statement
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Exploration Results

The information in this presentation that relates to Exploration Results for Simberi and Pinjin 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.

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Non-IFRS Measures
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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 prospects for future performance.

• Cash operating costs • Calculated according to common mining industry practice using The Gold Institute (USA) Production Cost Standard (1999 revision).

• All-In Sustaining Cost • All-In Sustaining Cost is based on Cash Operating Costs, and adds items relevant to sustaining production. It includes some, but not all, of the components identified in World Gold Council’s Guidance Note on Non-GAAP Metrics - All-In Sustaining Costs and All-In Costs (June 2013).

• Net-cash • Net-cash equivalent to cash and cash equivalents less current and non-current interest bearing borrowings

• Net-debt • Net-debt equivalent to current and non-current interest bearing borrowings less cash and cash equivalents

• Significant Items • Items included in IFRS Net Profit After Tax that the Board and Management consider may not be indicative of, or are unrelated to, core operating results (such as profit or loss on gold options, or the sale of tenement rights)

• • Refer 2016 Financial Report (p3) for details, available at www.stbarbara.com.au •

• Underlying net profit/(loss) Net profit after tax excluding identified significant items after tax

• Refer 2016 Financial Report (p3) for details, available at www.stbarbara.com.au

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Investor Relations Enquiries
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Rowan Cole Company Secretary

Garth Campbell-Cowan Chief Financial Officer

T: +61 3 8660 1900

E: info@stbarbara.com.au

56 / Sydney Mining Club 2 February 2017