ST BARBARA LIMITED — Regulatory Filings 2017

Jul 25, 2017

Presentation on Q4 June 2017 Quarterly Report and audio webcast

Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q4 June 2017 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Wednesday 26 July 2017. Participation on the conference call is by personal invitation only.

A live audio webcast of the briefing will be available on St Barbara's website at www.stbarbara.com.au/investors/webcast/ or by clicking here. The audio webcast is 'listen only' and does not enable questions. The audio webcast will subsequently be made available on the website.

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 +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 / 26 July 2017

Q4 June 2017 Quarterly Presentation

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.

• Highlights
• Safety
• Operations
• Exploration
• Conclusion
• Appendices

• Record safety
• Record annual production¹ 381 koz (FY16: 377 koz)
• Record low AISC² \$907/oz (FY16: \$933/oz)
• Debt free, \$161M cash at bank³
• Organic growth underway

• Well positioned for inorganic growth

• 1. From continuing operations
• 1. Non IFRS measure, refer corresponding slide in Appendix
• 1. Financial information unaudited. No interest bearing debt except for equipment leases amounting to approx. A\$500,000.

Total Recordable Injury Frequency Rate²

Safety performance

• New record low TRIFR¹ of 1.2 to 30 June 2017 (Q3 Mar: 1.5)

• Gold mining industry average TRIFR is 2.5³

• 1. Total Recordable Injury Frequency Rate (12 month avg)
• 1. TRIFR includes Pacific Operations from September 2012
• 1. Industry TRIFR data per the Department of Mines and Petroleum report titled 'Safety Performance in the Western Australian Mineral Industry' for 2014-2015 FY, available at: www.dmp.wa.gov.au/Documents/Safety/MSH_Stats_Posters_SafetyPerfWA_1415.pdf

5 / Q4 June 2017 Quarterly Presentation

Consolidated FY17 results + FY18 guidance

Figures displayed to nearest thousand ounces. Reported ounces in associated table.

Record production² of 381 koz

• Exceeded FY17 guidance of 365 to 375 koz

AISC record low A\$907/oz

• Outperformed FY17 guidance of A\$940 to A\$980/oz

FY18 Guidance

• Production 350 to 375 koz
• AISC A\$970/oz to A\$1,035/oz
• Sustaining capex A\$40 to A\$45 M

• Growth capex A\$50 to A\$55 M

• 1. Non IFRS measure, refer corresponding slide in Appendix
• 1. For continuing operations

Gwalia FY17 results + FY18 guidance

AISC (A\$/oz)

Figures displayed to nearest koz. Reported ounces in Quarterly Report.

FY17 production

• 265 koz @ AISC A\$785/oz (FY16: 267 koz @ A\$783), capex \$30 M (FY17 guidance A\$32 - A\$35 M)

Q4 Production:

• 62,098 oz (Q3: 64,916 oz)
• AISC¹ : A\$872/oz (Q3: A\$786/oz)
• Increased costs due to higher tonnes and higher sustaining capital spend

FY18 Guidance:

• Production of 245-260 koz
• AISC of A\$840 to A\$890/oz
• Sustaining capex: A\$35 A\$38 M
• Project activities impact in H1, PAF ramp up in late H2
• 1. Non IFRS measure, refer corresponding slide in Appendix

Gwalia Extension Project update – on schedule

• A\$8M capex spent in FY17 (inc. A\$3.5m in Q4) - drilling, studies, tunnel development
• Major contracts completed, Weir Minerals for PAF, RUC Cementation for vent shafts
• Study with RUC for simultaneous shaft construction, potential for acceleration of project schedule
• Project includes new ventilation shafts and underground crushing of waste, mixed with paste to fill emptied stopes.
• Budget of A\$100 million, 2 2.5 years construction period¹

• FY18F capex of A\$50 to A\$55 million

• Details contained in ASX announcement 27 March 2017 'Gwalia Extension Project approved'. Project commenced Q3 Mar 2017. Note 'Paste Aggregate Fill' PAF

Simberi FY17 results + FY18 guidance

AISC (A\$/oz)

FY17 Record: 116 koz (FY16: 110 koz)

• Record AISC¹ of A\$1,187/oz (FY16:A\$1,293/oz)
• Capex expenditure A\$4² million (guidance A\$4 to A\$5 million)

Q4 Record: 32,128oz (Q3: 30,430 oz)

• AISC A\$1,125/oz (Q3: 1,025/oz)
• Includes costs associated with new ore stockpile ~67 kt³

FY18 guidance: 105 to 115 koz

• AISC A\$1,260/oz to A\$1,380/oz

• Capex of A\$5 to A\$7 million

• 1. Non IFRS measure, refer corresponding slide in Appendix
• 1. Inclusive of growth capex A\$1M relating to sulphide project.
• 1. For processing in FY18

9 / Q4 June 2017 Quarterly Presentation

Simberi FY14 to FY17

Simberi Ore Milled

Simberi Total Material Moved

Simberi Production

Simberi AISC¹

Gwalia Seismic Reflection Program

• A full evaluation of extensions to the Gwalia Shear Zone completed during Q4 June 2017, results in August
• The survey will aim to identify extensions to the lode system and other potential occurrences of Gwalia style mineralisation

Gwalia Deeps Extension – Resource drilling 2,000 to 2,200 mbs

• Selected results on following slides

Gwalia 'Intermediates'

• New campaign targeting main lode extensions in upper areas (~1,000 mbs)

Exploration | Gwalia Deep + Intermediates Drilling Program

Exploration | Gwalia, Intermediates, Q4 June 2017 results

Exploration | Gwalia Deeps, Q4 June 2017 results FY18 2,600 mbs target

Exploration | Summary of greenfields projects

Back Creek, NSW

• Airborne magnetic survey completed. Gravity survey followup in Q1 September 2017 (subject to access)

Pinjin, WA

• A 600 hole up to 35,000 m Aircore drill program commenced testing previously identified targets
• A 1,011 line km Airborne Electromagnetic (AEM) survey completed, results in Q1 Sep 2017
• A 330 km² Ground Gravity Survey commenced, completion Q1, results Q2

Tatau Island, PNG

• A diamond drill and trenching program at Southwest Tatau was completed during the quarter
• Results to be modelled and reviewed in Q1
• Extensive ground sampling program to identify coppergold porphyry drill targets continued, as part of option and farm-in with Newcrest

Simberi sulphide project

• Data relating to the Simberi sulphides has been shared with Newcrest and samples will be provided to assess opportunities for further collaboration in the region.

A\$8 - A\$10 million Gwalia

• Gwalia Deep Drilling infill + Intermediates
• Gwalia Seismic

A\$4 - A\$5 million Pinjin WA

• Aircore drilling of targets identified in FY17

A\$4 - A\$5 million PNG

• Simberi Oxides/Sulphides
• Tatau Oxides/Sulphides

Option and farm in with Newcrest

• Copper-gold porphyry program continuing

• Record low costs
• Record safety
• Strong cash balance and debt free²
• Organic growth underway
• Well positioned for inorganic growth

1. For continuing operations

Appendices

Consolidated Production, Costs, Guidance Summary

Production Summary - Consolidated		Year	Q1 Sep	Q2 Dec	Q3 Mar	Q4 Jun	Year	Guidance	Guidance
		FY16	FY17	FY17	FY17	FY17	FY17	FY173	FY18
Production
Gwalia	oz	267,166	67,118	70,925	64,916	62,098	265,057	260 to 265 koz	245 to 260 koz
Simberi	oz	110,286	25,429	28,057	30,430	32,128	116,044	105 to 110 koz	105 to 115 koz
Consolidated (continuing operations)	oz	377,452	92,547	98,982	95,346	94,226	381,101	365 to 375 koz	350 to 375 koz
Hills4 King of the	oz	9,112	-	-	-	-	-	-
Mined Grade								Reserve grade 2
Gwalia	g/t	9.3	10.4	11.9	11.3	9.2	10.7	8.3	-
Simberi	g/t	1.26	1.05	1.13	1.14	1.21	1.13	1.3	-
Costs1 Total Cash Operating
Gwalia	A\$/oz	609	580	546	582	668	592	n/a	n/a
Simberi	A\$/oz	1,143	1,247	1,161	944	1,048	1,092	n/a	n/a
Consolidated (continuing operations)	A\$/oz	765	763	721	697	798	689	-	-
Hills4 King of the	A\$/oz	893	-	-	-	-	-	-	-
Cost1 All-In Sustaining
Gwalia	A\$/oz	783	774	716	786	872	785	795 to 815	840 to 890
Simberi	A\$/oz	1,293	1,359	1,277	1,025	1,125	1,187	1,285 to 1,330	1,260 to 1,380
Consolidated (continuing operations)	A\$/oz	932	935	876	862	959	907	940 to 980	970 to 1,035
King of the Hills4	A\$/oz	964	-	-	-	-	-	-	-

1. Non-IFRS measure, refer Appendix

2. King of the Hills ceased mining in April 2015 and ceased processing in September 2015

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

It was sold in October 2015 (refer ASX announcement 16 October 2015)

1. US\$995 to US\$1,090 @ AUD conversion of 0.79

2. FY17 guidance announced in Q4 June 2016 quarterly report (released 19 July 2016), updated in subsequent quarters

Consolidated Q4 June 2017 quarter

Figures displayed to nearest koz. Reported ounces in Quarterly Report.

• Consolidated production of 94 koz (Q3 FY17: 95 koz)
• Gwalia 62 koz (Q3: 65 koz)
• Simberi 32 koz (Q3: 30 koz)
• Consolidated AISC¹ of A\$959/oz (Q3: A\$862/oz)
• Gwalia A\$872/oz (Q3: A\$786/oz)
• Simberi A\$1,125/oz (Q3: A\$1,025/oz)

Gwalia Deeps Exploration – Northern Extension

Exploration | Pinjin, Q4 June 2017 results

Exploration | Tabar Island group, PNG, FY18

Tatau Island

• Diamond drill program completed at Mt Tiro, Nepewo, Mt Siro and Seraror, Southwest Tatau
• Newcrest Option and Farm-in Surface (soil and rock chip) sampling program continuing

Simberi Island

• Detailed pit mapping will be conducted on ML136 to better define controls on potential extensions to oxide ore and sulphide ore

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)	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)
• 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 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)	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.

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.

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).

Refer most recent quarterly report available at www.stbarbara.com.au for example

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). Refer most recent quarterly report available at www.stbarbara.com.au for example

Rowan Cole Company Secretary

T: +61 3 8660 1900

Alistair Reid Manager Investor Relations

E: info@stbarbara.com.au

Selected recent ASX releases

27 March 2017 Gwalia Extension Project Approved Announcement

13 July 2017 Gwalia site visit