ST BARBARA LIMITED — Major Shareholding Notification 2021

May 26, 2021

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/ SchemeACN/ ARSN1. Details of substantial holder (1)NameACN/ ARSN (if applicable)There was a change in the interests of tThe previous notice was given to the coThe previous notice was dated	ST BARBARA LIMITED
	009165 066
	L1Capital PtyLtd
	21 125 378145
	he substantial holder onmpany on	26/05/20213/12/20203/12/2020

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class ofsecurities (4)	PreviousNotice	PreviousNotice	Present Notice	Present Notice
	Person'svotes	Voting power(5)	Person'svotes	Voting power(5)
FPO	35,301,667	5.00%	42,622,118	6.04%

*Based on issued capital of 705,358,114 shares

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whose relevant interestchanged	Nature ofchange (6)	Consideration given inrelation to change (7)	Class and number ofsecurities affected	Person'svotes affected
26/05/2021	L1 Capital Pty Ltd	7,320,451		7,320,451	7,320,451

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevant		Person entitled to be		Class and number of
interest	RegisteredHolderofsecurities	registered asholder(8)	Nature of relevant interest	securities	Person'svotes
SeeSchedule 1

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

6. AddresseThe addressSignature	Name a	ndACN/ARSN(ifapplicable)			Nature ofassociation	Nature ofassociation
	N/A
	ses of persons	named in this form are as follows:
		Name			Address
		L1Capital PtyLtd			Level 28,101Collins Street,Melbourne,VIC, 3000
					27/05/2021Director
	Print name	Raphael Lamm		Capacity
	Sign here			Date
				DIRECTIONS
				relevant interests (eg. a corporatiorm. If the relevant interests of a grhip of each group, with the names		n and its related corporations, oroup of persons are essentially siand addresses of members is c
	If there are a number of substantial holders with similar or relatedit tt th ld b ildd i t th f
	equy rus), e names cou e ncue n an annexure o e othroughout the form as a specifically named group if the membersform
	.
	See the definition of "associate" in section 9 of the Corporations Ac			t 2001.
	See the definition of "relevant interest" in sections 608 and 671B(7			) of the Corporations Act 2001.d into separate classes.or scheme multiplied by 100.
	The voting shares of a company constitute one class unless divide			d into separate classes.or scheme multiplied by 100.
	The person's votes divided by the total votes in the body corporate

(1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form. (2) See the definition of "associate" in section 9 of the Corporations Act 2001. (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. (4) The voting shares of a company constitute one class unless divided into separate classes. (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

(6) Include details of: (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies). See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

(8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Schedule 1 - L1 Capital Pty Ltd becoming a substantial holder in ST BARBARA LIMITED Details of relevant interests

Holder of relevant interest	Nature of relevant interest	Class and number of securities
L1 Capital Pty Ltd	Power to (or to control) exercise vote and/or disposeof the securities as discretionary investmentmanagers or advisers of superannuation funds,pooled superannuation trusts, managed investmentschemes and investment management agreements.	Fully paid ordinary shares42,622,118

Details of present registered holders

Holder of relevant interest	Registered holder of securities	**Persons entitled to be a registered holder **	Class and number ofsecurities	Class and number ofsecurities
L1 Capital Pty Ltd	Citigroup Nominees	Citigroup Nominees	4,068,715	FPO
L1 Capital Pty Ltd	Credit Suisse	Credit Suisse	35,489,136	FPO
L1 Capital Pty Ltd	National Nominees Ltd	National Nominees Ltd	1,545,523	FPO
L1 Capital Pty Ltd	State Street Australia Limited	State Street Australia Limited	1,518,744	FPO
			42,622,118