Presentation on Q4 June FY19 Quarterly Report and audio ...€¦ · 24/07/2019 · Non FRS measure, refer corresponding slide in I Appendix 2. Cash contribution is a non-IFRS measure,

ASX Release / 24 July 2019

Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1959 ASX: SBM Media Relations Mr Tim Duncan GRACosway with Hintons +61 408 441 122 ADR: STBMY 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

Presentation on Q4 June FY19 Quarterly Report and audio webcast

Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q4 June FY19 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Wednesday 24 July 2019. 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 32TUstbarbara.com.au/investors/webcast/U32T or by 32Tclicking here32T. The audio webcast is ‘listen only’ and does not enable questions. The audio webcast will subsequently be made available on the website.

https://stbarbara.com.au/investors/webcast/

https://edge.media-server.com/mmc/p/jqnman5q

Q4 June FY19 Quarterly Presentation

BOB VASSIE, MANAGING DIRECTOR & CEO / 24 July 2019 ASX:SBM

Q4 June FY19 Quarterly Presentation2 /

Disclaimer

This presentation has been prepared by St Barbara Limited (“Company”). The material contained in this presentation is for informationpurposes 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 andinvolve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of theCompany, and which could cause actual results or trends to differ materially from those expressed in this presentation. Actual resultsmay vary from the information in this presentation. The Company does not make, and this presentation should not be relied upon as, anyrepresentation or warranty as to the accuracy, or reasonableness, of such statements or assumptions. Investors are cautioned not toplace undue reliance on such statements.

This presentation has been prepared by the Company based on information available to it, including information from third parties, andhas not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy orcompleteness 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 MineralResources and Ore Reserves 2012 Edition (“JORC Code”), which governs such disclosures by companies listed on the Australian SecuritiesExchange.

Financial figures are in Australian dollars unless otherwise noted.Financial year is 1 July to 30 June.Q1 Sep FY19 = quarter to 30 Sep 2018 Q3 Mar FY19 = quarter to 31 Mar 2019Q2 Dec FY19 = quarter to 31 Dec 2018 Q4 Jun FY19 = quarter to 30 June 2019

Title slide picture: Simberi SAG Mill. Photo by Anna Mote.

3 /

Contents

• Highlights

• Safety

• Operations

• Projects

• Exploration

• Growth

• Conclusion

• Appendices


Manager Processing and Company Secretary at Leonora Operations.

4 /

Highlights Q4 June FY19

1. Non IFRS measure, refer corresponding slide in Appendix2. Cash contribution is a non-IFRS measure, refer to corresponding slide in Appendix. Q4 June FY19 cash

contribution ÷ Q4 June FY19 ounces of gold sold refer page 16 of the ‘Quarterly Report Q4 June FY19’ 3. Financial information unaudited. Cash balance comprises $213 M cash, $678 M term deposits, and excludes

$2 M restricted cash. Includes $480 M from entitlement offer (net of receipts)Q4 June FY19 Quarterly Presentation

• 86 koz at AISC1 of A$1,219/oz (Q3: 88 koz at A$1,098/oz)• Simberi record production and cash flow for FY19• Continued successful Gwalia deep drilling and exploration

Operational excellence

• Operational cash contribution2 of $58 M (Q3: $71 M)• A$682/oz cash contribution2

• Simberi generated $98 M cash contribution2 in FY19 (FY18 $82 M)

Financial performance

• Debt free, A$891 M cash at bank3, with A$780 M applied to settlement of Atlantic Gold acquisition in July

• Operating cash flow will fund all anticipated growth projects

Capital management

• Atlantic Gold acquisition complete• Life-of-mine extension projects or studies at all mines• Broad range of exploration projects, inc. equity investments

Growth


Transformational Acquisition Consistent with our Strategy "Stronger for Longer"

Diversify production base

Sustainable long life operations

Quality growthpipeline

Talented people who deliver

Trusted tooperate

• Substantial, low cost production from an established mining jurisdiction

• CY19 forecast production of 92 – 98 koz at an AISC of C$695 –755/oz (A$740 – 803/oz)1, with pathway to 200+ koz production

• Atlantic has meaningful reserves with mine life of 12years2

• High cash margins driven by an industry low all-in sustaining cost (AISC) position

• Significant growth potential through planned reserve / resourceexpansion (Phase 3) and regional drilling (Phase 4) programs

• Establishes a platform for future growth in North America

• St Barbara is intending to retain the existing operating team and seeking to retain key Atlantic executives for the transitional period

• Atlantic's operational team has a track record of project delivery

• St Barbara and Atlantic are trusted operators in their jurisdictions• Respective operational teams will be able to leverage each

other's capabilities and specialisations

1. Forward looking statements and offer consideration as per spot rate on 10 May 2019 (FactSet) for CADAUD = 1.0642 and AUDUSD = 0.7200

2. Based on production schedule reported in 25 March 2019 ‘Updated MRC Production Schedule’ Atlantic news releaseFor full details refer to release 15 May 2019 ‘Acquisition of Atlantic Gold Corporation and Equity Raising’


Acquisition of Atlantic Adds a Low Cost Producer with Expansion Pipeline and Exploration Potential

Acquiring a great team of talented people who deliver

Touquoy is a high quality producing asset in an established mining jurisdiction

Current operation consists of one open pit, with planned expansion of three additional pits increasing production to 200+ koz p.a. (targeting CY23 onwards)

Low AISC position, driving strong cash flow generation

Low life of mine (LOM) strip ratio of 2.9:1

Demonstrated track record in resource expansion

Strong exploration potential with tenements along strike of the host structure

One hour from Halifax (provincial capital), a 400,000+ population and significant industrial centre

Key statistics

CY18 production 91 koz

CY19 production guidance 92 – 98 koz

Reserves1 1.9 Moz

Resources1 2.4 Moz

Current mine life 12 years

CY18 AISC C$731 (A$761/oz)

CY19 AISC guidance C$695 – 755/oz (A$740 – 803/oz)

Canada

Nova Scotia

Note: Spot CADAUD as at 31 December 2018 = 1.0395. CADAUD average CY18 = 1.0405. AUDUSD average CY18 = 0.7477 (FactSet). Forward looking statements and offer consideration as per spot rate on 10 May 2019 (FactSet) for CADAUD = 1.0642 and AUDUSD = 0.72001. Refer to Appendices for Atlantic reserves and resources position and competent persons statement. Reported

in 13 March 2019 "Mineral Resources Update for Touquoy, FMS and Cochrane Hill" and 25 March 2019 "Updated MRC Production Schedule" Atlantic news releases. Touquoy on 100% basis


Atlantic Gold

Touquoy

Halifax


Focus on Safety

Total Recordable Injury Frequency Rate1

5.0

2.1

1.2

2.12.8 2.9

4.1

5.0

FY15 FY16 FY17 FY18 FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

• The Total Recordable Injury Frequency Rate (TRIFR, 12 month moving average) at 5.0 at the end of Q4 June FY19

• Deterioration is a major focus being addressed with employees and contractors

• Corresponding LTIFR remains well below WA industry average

Inspecting the safety shower at the Gwalia Mill, May 2018, photo by Jonathon Mountford

1.1

1.92.2

2.9

St BarbaraQ4 FY19

WA Gold WA Metal,Surface

WA Metal,Underground

St Barbara LTIFR2 in comparison with Western Australian Mining benchmarks3

1. Total Recordable Injury Frequency Rate (12 month avg.), total recordable injuries per million hours worked. 2. LTIFR = Lost Time Injury Frequency Rate (12 month avg.), the number of lost time injuries per million hours worked3. Most recent statistics from www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx

WA Gold: Safety performance in the Western Australian mineral industry 2017-18 - posterSurface & Underground: Safety performance in the Western Australian mineral industry 2016-2017 - report

http://www.dmp.wa.gov.au/Safety/Safety-statistics-16198.aspx

http://www.dmp.wa.gov.au/Documents/Safety/MSH_Stats_Posters_SAfetyPerfWA_1718.pdf

http://www.dmp.wa.gov.au/Documents/Safety/MSH_Stats_Reports_SafetyPerfWA_2016-17.pdf


Consolidated Q4 June FY19 Results

8563 53 54 50

35

3636 34 36

119

9989 88 86

FY18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

Gwalia Simberi

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

Gold Production (koz)

Q4 FY19 Production • Consolidated 86 koz (Q3: 88 koz)• Gwalia 50 koz (Q3: 54 koz)• Simberi 36 koz (Q3: 34 koz)

Q4 FY19 AISC1

• Consolidated A$1,219/oz (Q3: A$1,098/oz)

• Gwalia A$1,230/oz(Q3: A$1,016/oz)

• Simberi A$1,203/oz(Q3: A$1,229/oz)

812919

1,108 1,0981,219

0

200

400

600

800

1000

1200

1400

AISC (A$/oz)

FY19 average $1,080/oz

1. Non IFRS measure, refer corresponding slide in Appendix

13.4 12.410.4

11.710.0

Mined grade (g/t Au)

84.5

62.753.3 54.3

50.0

FY18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

Gold Production (koz)

Reported ounces in Quarterly Report.


Gwalia Q4 June FY19 Results

Q4 FY19 Production • 49,966 oz (Q3: 54,261 oz)• AISC1 A$1,230/oz (Q3: A$1,016/oz)• The sequential nature of the mine plan,

and continued ventilation constraints limiting parallel work activities in the underground, continues to impact mining operations

• Ore tonnes mined 156 kt (Q3: 146 kt). Mined volume affected by temporary blockage of the paste reticulation circuit announced in May 2019

• Mined grade of 10.0 g/t Au(Q3: 11.7 g/t Au)

1. Non IFRS measure, refer corresponding slide in Appendix2. Reserve Grades per ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ released 27 August 2018

Reserve grade FY192

7.5 g/t Au

679833

1,081 1,0161,230AISC (A$/oz)



Gwalia production and cost profile

FY19 performance• Production 220 koz (FY18: 268 koz)• AISC1 A$1,027/oz (FY18: A$802/oz)FY20 guidance• Production of 200 to 210 koz• AISC1 of A$1,230 to A$1,290/oz• Sustaining capex: A$55 to A$65 M• Growth capex: A$30 to $35 M

(inc. completion of GEP)

1. Non IFRS measure, refer corresponding slide in Appendix2. Refers to Gwalia Extension Project (GEP)3. Midpoint of FY20 AISC guidance

248267 265 268

220200210

FY15 FY16 FY17 FY18 FY19 FY20F

Production(koz)

AISC(A$/oz)

841 783 785 8021,027

1,2603

1,135 1,068 1,1461,229 1,203

Production(koz)


Simberi Q4 June FY19 Results

Q4 FY19 Production • 36,231 oz (Q3: 34,097 oz)• AISC1 A$1,203/oz (Q3: A$1,229/oz) • Milled grade 1.68 g/t Au (Q3: 1.83 g/t

Au), from higher grade zones in Sorowar.

• Milled tonnes for the year decreased (FY19: 3.1 Mt, FY18: 3.6 Mt) due to harder ore.


34.9 35.9 36.034.1

36.2

FY18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

AISC(A$/oz)



Simberi production and cost profile

FY19 performance• Fifth consecutive record annual

production 142 koz (FY18: 135 koz)• AISC1 A$1,162/oz (FY18: A$1,068/oz)• Improved grade (FY19: 1.64 g/t Au,

FY18: 1.35 g/t Au) • Record recovery 87% (FY18: 85%)FY20 guidance• Production of 110 to 125 koz • AISC of A$1,285 to A$1,450/oz3

• Sustaining capex: A$4 to A$5 M• Growth capex: A$3 to A$4 M

1. Non IFRS measure, refer corresponding slide in Appendix 2. Midpoint of FY20 AISC guidance3. Derived from US$900 to US$1,015 per oz @ AUD 0.70

80

110116

135142

110

125

FY15 FY16 FY17 FY18 FY19 FY20F

Production(koz)

AISC(A$/oz)

1,464 1,293 1,187 1,068 1,1621,3682


Atlantic Gold production and cost profile

FY19 performance• Production 93 koz • AISC1 A$787/oz (YTD Q3 FY19)

FY20 guidance• Guidance due to be released in the

Q1 September FY20 quarterly report

1. Non IFRS measure, refer corresponding slide in Appendix.Note: Commercial production was declared March 2018.

22.3

27.6

22.5

19.622.9

FY 18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

Production(koz)

AISC(A$/oz)

761 727 791923


Consolidated FY19 results & FY20 guidance

FY19 Consolidated Results• Production of 362 koz • AISC1 A$1080/oz

FY20 Consolidated Guidance • Production 310 to 335 koz• AISC A$1,250/oz to A$1,350/oz• Sustaining capex A$59 to A$70 M• Growth capex A$33 to A$39 M

907 891

1,080 1,300AISC (A$/oz)

265 268220 205

116 135142

118

381 403362

323

FY17 FY18 FY19 FY20F

Gwalia Simberi Total

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

Production(koz)

Guidance mid-points


343 350 357 382 4117 7 2529

480

-200

-200

0

200

400

600

800

1000

FY18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

Cash balance Net cash movement Undrawn debt facility

Q2 movement net of:

$46 M tax

$13 M growth capex

$2 M investments

Q1 movement net of:

$28 M dividends

$11 M growth capex

$6 M tax

$4 M investments

Entitlement Offer (net receipts)

16 /

Increasing Cash Balance


A$M

As at 30 June 2019, with A$780 M applied to settlement of Atlantic acquisition in July. Cash balance excludes restricted cash and $200 M undrawn three year syndicated revolving debt facility.For details refer to cash movements table in ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Q3 movement net of:

$19 M growth capex

$14 M dividends

$4 M tax

Q4 movement net of:

$20 M growth capex

$10 M exploration

$8 M tax

A$780 purchase price for Atlantic Gold

Undrawn debt facility

891

17 /

Cash Generation and Usage


-28-14-7

-6-46

-4-8

-10

-11

-13

-19-20-4

-4

-2

-4

-23 -8

-9

-2

82

7 725

29

105

79 76 71

58

-100

-50

0

50

100

150

FY18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

Net cash movement for qtr

Corp. costs & royalties,explr. & working cap.

Strategic investments

Leonora - growth capital

Income tax payments

Dividends paid

Operational cash contribution

Operational cash contribution

(NB: Excludes entitlement offer)

508

A$M

Operational cash contribution is a Non IFRS measure, refer corresponding slide in AppendixFor details refer to cash movements table in ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Gwalia Extension Project Update – On Schedule

1. PAF involves mixing paste from surface with waste crushed underground to fill stope cavities.2. Project announced 27 March 2017 ‘Gwalia Extension Project approved’.

Budget revised in ‘Quarterly Report Q3 March FY19’ released 18 April 2019.18 / Q4 June FY19 Quarterly Presentation

• Gwalia Extension Project (GEP) consists of two main components: a ventilation upgrade and paste aggregate fill (PAF)1

• Budget of A$112 million with planned completion in Q3 March FY202

• A$100 million spent on project to date • PAF crushing circuit on 1420 level is complete and

commissioning has commenced• Mechanical installation of equipment on 1460 level

largely complete and electrical installation well progressed

• Dry commissioning of sections of 1460 PAF circuit to commence July. PAF completion expected Q1 Sep FY20

• Final underground raisebore due to commence July• High voltage power cable drop to 1460 level is

complete Above: High voltage cable drum.Below: Winch for cable lowering to 1460 level.


Gwalia | Total material moved

Impact of GEP on trucking capacity• Excavation of the approx. 11 m high x

10 m wide chambers at 1,420 and 1,460 mbs for the PAF circuit commenced in Q1 Sep FY17

• Raise-boring of the four 5-metre diameter vent shafts commenced in Q3 Mar FY18

• The vent shafts total 2,800 m in length and represent a volume of ~44,000 m3

• Trucking and ventilation capacity is liberated when raise boring is complete and PAF is commissioned

201164 158 146 156

41

69 8278

106

2619 20

32

267252 260 256 262

FY18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

Gwalia total material moved (kt)

Ore mined Development waste Raisebore waste Total material moved

GEP = Gwalia Extension ProjectPAF = Paste Aggregate Fill


Gwalia | Future indicative production profile

220200

230 230210

FY19 FY20F FY21 FY22

Gwalia – future indicative production profile1

Outlook

Production (koz)

• H1 FY20 ventilation constrained until GEP is complete

• H2 FY20 production will compete with development

• Opportunity to improve anticipated production profile by achieving target 1.1 Mtpa mining rate earlier and potentially exceeding target rate, centred on improved development rates:

• Project team formed (inc. Byrnecut)• Autonomous jumbo2 is operational

1. For more details, refer to ASX announcement on 22 March 2019 ‘Gwalia Mass Extraction Feasibility Study Results, FY19 Guidance and webcast’. FY21 = anticipated midpoint

2. Jumbo = electro-hydraulic rock drilling machine

21 /

Exploration | Key Developments

Gwalia, WA• Continued testing of southern extensions to orebody

returned extensive intervals of mineralised alteration and quartz veining, providing new information on direction and thickening of the lode system

Jessie Alma, WA• RC drilling continued testing targets between the Gwalia

and Tower Hill deposits, with 18 holes completed. Several holes returned significant results at depths between 150 –280mbs

Horse Paddock Well, WA• RC drilling completed on 7 targets along a 1.5km strike, with

significant results at shallow depths

Back Creek, NSW• Assay results were received for a single deep diamond drill

hole and seventeen aircore drill holes

Horn Island, QLD• St Barbara Limited entered into an Earn-In and Joint Venture

with Alice Queen Limited on two tenements

Simberi Island, PNG• Ongoing sulphide drilling beneath Sorowar pit continued to

return significant sulphide and oxide mineralisation

Newcrest JV, PNG• Assay results were received for the two diamond drill holes

testing the Banesa copper-gold porphyry target on Big Tabar Island

Q4 June FY19 Quarterly Presentation For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

22 /

Exploration | Gwalia Deeps

Q4 June FY19 Quarterly Presentation 1. For full explanation and results refer to results table in ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Gwalia Deep Drilling

• Daughter holes GWDD16K, GWDD16L and GWDD16M intersected the mine sequence at 2,000 - 2,100 mbs

• Parent hole GWDD23 and daughter holes GWDD23A, GWDD23B and GWDD23C targeted the orebody at 2,100 - 2,200 mbs

• Significant results include1:o 14.5 m at 5.7 g/t Au

from 2,084 mbs (GWDD16M)o 24.2 m at 6.5 g/t Au

from 2,242 mbs (GWDD23C)• Extensive mineralised alteration and

quartz veining encountered in GWDD23C has provided new information on the direction and thickening of the lode system

23 /

Exploration | Simberi Island, PNG

Sorowar Pit

Drilling results continue to be positive, indicating significant additional sulphide and oxide mineralisation is present

Best intersections include (all results downhole):

185SRDH008: • 16 m at 2.25 g/t Au from 210 m150SRDH031: • 17 m at 3.66 g/t Au from 49 m


24 /


Q4 June FY19 Quarterly Presentation For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’. See also slide 37.

25 /

Exploration | Summary of greenfields projects

Pinjin, WA• Completed a 30 hole RC drill program testing four

targets and a 178 hole aircore drill program which tested seven targets

• Land and lake aircore drilling is planned for Q1 September FY20 to test five new targets

Tabar Islands, PNG• Simberi Island: assay results were received for four

diamond drill holes testing below Pigibo for sulphide gold

• Newcrest Farm-in: two deep diamond drill holes tested the Banesa target on Big Tabar Island, with best results:o 164 m @ 0.28 g/t Au and 0.16% Cu from 278 mo 487 m @ 0.34 g/t Au and 0.08% Cu from 460 m

• A third diamond drill hole was completed at Banesa, with assays pending. A fourth drill hole commenced in July

Back Creek, NSW

• Assays for a single diamond drill hole returned 45 m @ 0.13% Cu (from 113 m) and 41 m @ 0.22% Cu (from 232 m)

• Aircore results from Q3 March FY19 drilling returned 1 m @ 1.19 g/t Au (from 97 m) and 2 m @ 3.81 g/t Au (from 100 m)


26 /

Strategy for the next 5 years – “Stronger for Longer”


Diversify production base Seeking a portfolio of robust operations

Sustainable long life operations Aiming for above average mine life at bottom-third AISC

Quality growth pipelineActively add, manage and progress assets in all phases of the pipeline

Talented people who deliverSupport and work with our people to continue to achieve extraordinaryresults

Trusted to operateOur various stakeholders trust us everywhere we choose to operate

Atlantic Gold is a Strong Strategic Fit within St Barbara's Growth Pipeline

1. Option and Farm-in Agreement with Newcrest announced 14 November 20162. Earn-in and Joint Venture Agreement with Australian Potash announced 8 October 20183. Earn-in and Joint Venture Agreement in Horn Island with Alice Queen announced 5 June 2019.4. Atlantic holds a 63.1% beneficial interest in Touquoy. Atlantic owns 60% of Touquoy and 7.9% of

Moose River Resources Inc. (MRRI) that has a 40% carried interest in Touquoy. Atlantic has the option to purchase MRRI's 36.9% beneficial interest at fair market value after the later of (i) 18 months following commercial production or (ii) 3 Mt ore processed. Atlantic can recoup capital expenditures relating to the development of the mine and related assets before it begins making payments to MRRI with respect to the carried interest.

Projects owned 100% St Barbara interest as noted Atlantic assets

Au, EJV3

Cochrane Hill

Horn Island

Feasibility Construction ProductionExploration

Aust

ralia

Ove

rsea

s

Greater Gwalia

Pinjin

Back Creek

14%

Catalyst Metals

16%.

Peel Mining

Au

Tabar Is Group

Cu–Au, OFA with NCM1

Tabar Is Group

Tower Hill

Simberi Sulphide

Gwalia Extension

Beaver Dam

Fifteen Mile

Stream

AtlanticGold

Phase 4

Touquoy Mine4

Gwalia Mine

Simberi Mine

Inorganic growthEvaluating exploration, project, development and operating assets in a range of sizes in Australia and overseas

GwaliaGMX

10%

Prodigy Gold

12%

Duketon Mining

Au, EJV2

Aust. Potash

Growth Pipeline


28 /

Conclusion

1. Financial information unaudited. Balance comprises A$213 M cash, A$678 M term deposits and excludes A$2 M restricted cash.Q4 June FY19 Quarterly Presentation

New Atlantic Gold flag, Atlantic Gold Operations, Nova Scotia.

• Completed Atlantic Gold acquisition, adding a low cost, high margin operation with growth pipeline and exploration potential

• Current operations continue to perform well

• Significant drilling results at Gwalia Deeps and regionally

• Continued positive Simberi Sulphide drilling results

• Debt free, $891 M cash and term deposits (with A$780 M applied to settlement of Atlantic acquisition in July)1, and an undrawn $200 M debt facility

29 /

Appendices

Sunrise on Lake Rebecca. Photo by Nora O’Keeffe.



Diversity and Sustainability | Developments in Q4 FY19

Olivia Lewis, West Coast Fever player visits Leonora Shooting Stars, June 2019. Image supplied by Shooting Stars.

Leonora sponsorships• Netball WA. St Barbara supports Gold Industry Group’s

$5 million partnership with Netball WA. The largest ever investment in women’s sport in the state, the proceeds will benefit from the grassroots level through to the elite.

• Shooting Stars. Employees volunteer to train with the Leonora Shooting Stars program participants each week to develop teamwork and netball skills. Shooting Stars uses netball as a vehicle to encourage greater engagement and attendance at school of young indigenous girls.

• Goldfields Girl. Program to assist Aboriginal women aged 16 to 25 to embrace their culture, build their confidence, and develop employment and life skills.

• Leonora Golden Gift. Leonora community event featuring an athletics carnival, horse racing and family entertainment.

• Get Into Resources. Careers event showcasing the resources industry to secondary school students.

Goldfields Girl, April 2019. Image supplied by ABC Goldfields Esperance.

1. Amended FY19 guidance released 17 June 2019 in ‘Atlantic Gold acquisition and St Barbara operations update’.2. Ore Reserve grade at 30 June 2018, refer Ore Reserve and Mineral Resources Statement (released 27 August 2018).3. Non-IFRS measure, refer Appendix.4. US$895 to US$935 per ounce @ AUD 0.725. US$900 to US$1,015 per ounce @ AUD 0.70

31 /

Consolidated Production, Costs, Guidance Summary


Production SummaryConsolidated

YearFY18

Q1 SepFY19

Q2 DecFY19

Q3 MarFY19

Q4 JunFY19

Year FY19

GuidanceFY191

Guidance FY20

St Barbara’s financial yearis 1 July to 30 June

Year to 30 June 2018

Qtr to 30 Sep 2018

Qtr to 31 Dec 2018

Qtr to 31 Mar 2019

9 months to 31 Mar 2019

Year to 30 June 2019

Year to 30 June 2019 Year to 30 June 2020

ProductionGwalia oz 268,428 62,685 53,257 54,261 49,966 220,169 220 koz 200 to 210 koz

Simberi oz 134,661 35,862 35,987 34,097 36,231 142,177 140 koz 110 to 125 koz

Consolidated oz 403,089 98,547 89,244 88,358 86,197 362,346 360 koz 310 to 335 koz

Mined GradeReserve grade2

Gwalia g/t 12.5 12.4 10.4 11.7 10.0 11.1 7.5Simberi g/t 1.25 1.29 1.55 1.46 1.48 1.43 1.3

Total Cash Operating Costs3

Gwalia A$/oz 613 665 806 713 821 746 n/a n/a

Simberi A$/oz 969 952 1,027 1,066 1,021 1,016 n/a n/a

Consolidated A$/oz 732 769 895 849 905 852 n/a n/a

All-In Sustaining Cost3

Gwalia A$/oz 802 833 1,081 1,016 1,230 1,027 980 to 1,000 1,230 to 1,290

Simberi A$/oz 1,068 1,068 1,146 1,229 1,203 1,162 1,245 to 1,3004 1,285 to 1,4505

Consolidated A$/oz 891 919 1,108 1,098 1,219 1,080 1,075 to 1,100 1,250 to 1,350


Exploration FY20 Guidance – A$20 to A$28 million

A$7 – A$9 million Leonora • Greater Gwalia Area • Gwalia Deep Drilling

A$5 – A$7 million Pinjin, Lake Wells and Back Creek • Geophysics/aircore drilling of

identified targets

A$8 – A$12 million PNG• Simberi Oxides/Sulphides and

Porphyry

Atlantic Gold • FY20 guidance to be provided in

Q1 September FY20 Report

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

33 /

Exploration | Gwalia Deep Drilling


34 /

Exploration | Seismic Targets


35 /

Exploration | Seismic Targets


36 /

Exploration | Jessie Alma

• An 18 hole RC drilling program was completed in April testing a 1.6km strike south of Tower Hill and 500 m west of the Gwalia Open Pit.

• Significant results from this program include (all intercepts down-hole):

o 6.0 m @ 8.6 g/t Au from 283 m (JARC004)



• Follow up eight diamond hole drilling program planned for Q1 September FY20


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Exploration | Pinjin


Simberi Sulphide – Potential long life mine extension


Samat, 134 koz

Botlu,… Pigi…

Pigiput, 1,003 koz

Sorowar, 78 koz

Modelled ultimate pit shells1 with associated sulphide reserves

• Focused exploration for sulphide ore underway to improve project economics

• Sorowar not drilled at depth previously

• Sorowar drill results to date indicate high grade sulphide gold present3

1.4 Moz Sulphide Reserve @ 3.5 g/t Au,

3.1 Moz Sulphide Resource @ 1.8 g/t Au2

Distribution of 1.4 Moz Sulphide Reserve

1. Taken from 2016 Simberi Sulphide PFS. PFS level of accuracy ±30%. For full explanation refer to Q3 March 2016 Quarterly Report released 19 April 2016.

2. For details refer to ASX release 27 August 2018 ‘Ore Reserves and Mineral Resources Statements 30 June 2018’

3. For details refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

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Hedging Summary at 24 July 2019


Financial Year

Volume ounces

Price $/oz Delivery (all monthly instalments)

Announced

FY20 42,000 A$1,750 July and December 2019 7 & 19 Feb 2018 and 7 Mar 2018

FY20 24,000 A$1,809 January and June 2020 26 Oct 2018

FY20 24,000 US$1,300 January and June 2020 10 Dec 2018

FY21 26,000 A$1,809 July and December 2020 26 Oct 2018

FY21 26,000 US$1,300 July and December 2020 10 Dec 2018

(8,000 of initial 50,000 ounces delivered year to date since 1 July 2019)

For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Atlantic Gold (at 30 June

2019)

Volume ounces

Price $/oz Delivery (quarterly instalments)

Announced

July 2019 to February

2021124,144 C$1,550 July 2019 to February 2021 21 Sep 2018

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Ore Reserves Summary as at 30 June 2018


Notes

1. Ore Reserves are based on a gold price of: Gwalia (AU$1,350/oz), Tower Hill (AU$1,250/oz), Simberi (US$1,200/oz)2. Cut-off Grades Gwalia (4.0g/t Au), Tower Hill (2.8g/t Au), Simberi Oxide (0.5g/t Au), Simberi Sulphide (1.1g/t Au)3. Mineral Resources are reported inclusive of Ore Reserves4. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding5. Details relating to each of the estimates are contained in the 2018 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 27 August 2018 ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ available at www.stbarbara.com.au

Project

Proved Probable Total

Tonnes('000)

Gold (g/t)

Ounces('000)

Tonnes('000)

Gold (g/t)

Ounces('000)

Tonnes('000)

Gold (g/t)

Ounces('000)

Gwalia, (WA) 1,845 9.0 531 6,061 7.0 1,368 7,907 7.5 1,899

Tower Hill, (WA) - - - 2,572 3.7 306 2,572 3.7 306

Simberi Oxide, (PNG) 1,644 1.5 77 5,692 1.3 237 7,336 1.3 314

Simberi Sulphide, (PNG) 151 3.0 15 12,200 3.5 1,367 12,352 3.5 1,382

Simberi Stockpiles, (PNG) 889 0.8 22 - - - 889 0.8 22

Total All Projects 4,529 4.4 645 26,525 3.8 3,278 31,055 3.9 3,923

http://www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/

http://www.stbarbara.com.au/

42 /

Mineral Resources Summary as at 30 June 2018


Project

Measured Indicated Inferred Total

Tonnes('000)

Gold (g/t)

Ounces('000)

Tonnes('000)

Gold (g/t)

Ounces('000)

Tonnes('000)

Gold (g/t)

Ounces('000)

Tonnes('000)

Gold (g/t)

Ounces('000)

Gwalia, (WA) 4,581 7.1 1,048 14,690 6.3 2,997 3,831 6.3 780 23,102 6.5 4,825

Tower Hill, (WA) - - - 4,604 3.9 574 489 3.3 51 5,093 3.8 625

Simberi Oxide, (PNG) 2,120 1.2 85 10,163 1.0 341 4,834 1.0 150 17,117 1.0 576

Simberi Sulphide, (PNG) 526 1.7 28 40,683 1.9 2,454 12,615 1.6 654 53,824 1.8 3,136

Total All Projects 7,227 5.0 1,161 70,140 2.8 6,366 21,769 2.3 1,635 99,136 2.9 9,162

Notes

1. Mineral Resources are reported inclusive of Ore Reserves2. Cut-off Grades Gwalia (2.5g/t Au), Tower Hill (2.5g/t Au), Simberi Oxide (0.4g/t Au), Simberi Sulphide (0.6g/t Au)3. Simberi Mineral Resources are reported constrained by a US$1,800/oz pit shell4. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding5. Details relating to each of the estimates are contained in the 2018 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 27 August 2018 ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ available at www.stbarbara.com.au

http://www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/

http://www.stbarbara.com.au/

Atlantic Ore Reserves Summary per 25 March 2019 Release

Tonnes (mt) Grade (g/t Au) Gold oz's ('000's)Touquoy Proven Reserves 3.36 1.10 119Probable Reserves 7.14 1.28 295 Stockpile reserves 2.14 0.57 44Total Proven and Probable Reserves 12.91 1.10 458 Beaver DamProven Reserves 3.81 1.54 188 Probable Reserves 3.09 1.43 142 Total Proven and Probable Reserves 6.90 1.49 330 Fifteen Mile StreamProven Reserves 5.58 1.09 196Probable Reserves 11.18 1.06 380 Total Proven and Probable Reserves 16.76 1.07 576 Cochrane HillProven Reserves 10.25 1.08 355Probable Reserves 5.13 0.96 158 Total Proven and Probable Reserves 15.38 1.04 513Total Moose River ConsolidatedProven Reserves 22.99 1.16 857Probable Reserves 26.55 1.14 975 Stockpile 2.41 0.57 44Total Proven and Probable Reserves 51.95 1.12 1,877

1. The Mineral Reserve Estimates were prepared by Marc Schulte, P.Eng. (who is also the independent Qualified Person for these Mineral Reserve Estimates), in accordance to the 2014 Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards for Mineral Resources and Mineral Reserves, with an effective date of 13 March 2019

2. The Mineral Reserve estimates are a subset of the 15 February 2019 Mineral Resource estimates (see news release dated 13 March 2019)3. Touquoy Proven Mineral Reserves include existing stockpiled ore of 2.41 Mt at 0.57 g/t Au. This material is not included in, and is additional to, the Mineral Resource estimate4. The Mineral Reserves are based on an engineering and technical information developed at a Pre-Feasibility level for each of the included four deposits 5. Mineral Reserves are mined tonnes and grade, the reference point is the mill feed at the primary crusher6. Mineral Reserves are reported at a cut-off grade of 0.30 g/t Au for Touquoy, Fifteen Mile Stream and Cochrane Hill, and 0.5 g/t Au for Beaver Dam 7. Cut-off grade assumes US$1,300/oz. Au at a currency exchange rate of CADUSD: 0.77; 99.9% payable gold; $5.00/oz. offsite costs (refining and transport), a 2% royalty; and uses a 92% metallurgical recovery. The cut off-grade covers processing costs of $11.00/t at

Touquoy, $8.22/t at Fifteen Mile Stream, $8.64/t at Cochrane Hill, and $18.00/t at Beaver Dam and general and administrative (G&A) costs of $2.50/t8. Mining recovery of 98.4% and external mining dilution of 1.6% at 0.20 g/t Au grade is applied in addition to the modelled in-block dilution9. As Touquoy is an ongoing operation, a surveyed topographic surface dated December 31, 2018 is used as the basis for the Mineral Reserves

43 / Q4 June FY19 Quarterly Presentation

Touquoy Beaver Dam

Tonnage(Mt)

Grade(g/t Au)

Contained Gold(Au oz x 1,000)

Tonnage(Mt)

Grade(g/t Au)

Contained Gold(Au oz x 1,000)Confidence Category

Measured 3.4 1.14 124 5.1 1.28 209

Indicated 7.9 1.27 321 4.6 1.23 182

Total Measured and Indicated 11.3 1.23 445 9.7 1.26 392

Inferred 1.10 1.30 48 1.0 1.41 47

Fifteen Mile Stream Cochrane Hill

Tonnage(Mt)

Grade(g/t Au)

Contained Gold(Au oz x 1,000)

Tonnage(Mt)

Grade(g/t Au)

Contained Gold(Au oz x 1,000)Confidence Category

Measured 5.9 1.22 216 10.8 1.12 387

Indicated 13.1 0.70 461 6.7 1.02 219

Total Measured and Indicated 19.1 0.98 677 17.4 1.08 607

Inferred 2.1 1.21 84 1.8 1.24 73

Atlantic Mineral Resources Summary per 13 March 2019 Release

1. Mineral Resources have an effective date of 15 February 2019. The Qualified Person for the estimates is Mr. Neil Schofield, MAIG, an employee of FSSI Consultants (Australia) Pty Ltd. 2. Mineral Resources are reported at a base case cut-off grade of 0.3 g/t Au. The cut-off grade includes the following considerations: assumption of open pit mining methods; gold price of US $1,400/oz; and an exchange rate of CADUSD 0.77. 3. Mineral Resources are reported inclusive of those Mineral Resources that have been converted to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 4. Estimates have been rounded and may result in summation differences

44 / Q4 June FY19 Quarterly Presentation

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Competent Persons Statement

Exploration ResultsThe 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 sufficientexperience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as aCompetent 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 MrRobert 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 sufficientexperience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and OreReserves’. 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 EstimatesThe information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the report titled ‘Ore Reserves and MineralResources Statements 30 June 2018’ released to the Australian Securities Exchange (ASX) on 27 August 2018 and available to view at stbarbara.com.auand for which Competent Persons’ consents were obtained. Each Competent Person’s consent remain in place for subsequent releases by theCompany of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report andaccompanying consent.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASXannouncement released on 27 August 2018 and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions andtechnical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. TheCompany confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from theoriginal ASX announcement.

Full details are contained in the ASX release dated 27 August 2018 ‘Ore Reserves and Mineral Resources Statements 30 June 2018’ available atstbarbara.com.au.


https://stbarbara.com.au/


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Non-IFRS Measures and Scheduled Announcements

We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) withcertain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningfulinformation to assist management, investors and analysts in understanding our financial results and assessing our prospectsfor 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 stbarbara.com.au for example

All-In Sustaining Cost • All-In Sustaining Cost is based on Cash Operating Costs, and adds items relevant to sustainingproduction. It includes some, but not all, of the components identified in World Gold Council’sGuidance Note on Non-GAAP Metrics - All-In Sustaining Costs and All-In Costs (June 2013)Refer most recent quarterly report available at stbarbara.com.au for example

Cash contribution • Refer cash movements table in Finance section of corresponding Quarterly Report. It is thesum of ‘operating cash flow’ from individual operations, net of sustaining capital expenditure

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


Scheduled ASX Announcements

21 August 2019 FY19 Full Year ReportFY19 Final Dividend30 June 2019 Ore Reserves and Mineral Resources Statements





Investor Relations Enquiries

St Barbara Board, underground at Gwalia, October 2017. L to R: Tim Netscher (Non-Executive Chairman), Andrew Walker (Underground Manager), Rowan Cole (Company Secretary),

Kerry Gleeson (Non-Executive Director), Bob Vassie (MD & CEO), and David Moroney (Non-Executive Director)

Rowan ColeCompany Secretary

T: +61 3 8660 1900

David CotterellManager Investor Relations

E: [email protected]