presentation to 2019 denver gold forum - st barbara...2019/09/25 · presentation to 2019 denver...

ASX Release / 16 September 2019

Investor Relations Mr David Cotterell Manager Investor Relations +61 3 8660 1900 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 to 2019 Denver Gold Forum

Bob Vassie, Managing Director and CEO, will present to the Denver Gold Forum in Colorado, USA, on Monday 16 September 2019. A webcast of the presentation will be available on the Gold Forum Americas website at www.goldforumamericas.com/webcast/, and subsequently on the St Barbara website at www.stbarbara.com.au/investors/webcast/.

http://www.goldforumamericas.com/webcast/

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

Denver Gold Forum 2019

Bob Vassie, Managing Director & CEO | 16-18 September 2019

Ticker ASX: SBMADR STBMY (5 ORD = 1 ADR)

2 /

Forward Statements

This presentation has been prepared by St Barbara Limited (“the Company”). The material contained inthis presentation is for information purposes only. This presentation is not an offer or invitation forsubscription or purchase of, or a recommendation in relation to, securities in the Company and neitherthis presentation nor anything contained in it shall form the basis of any contract or commitment. Thispresentation is not a financial product or investment advice. It does not take into account theinvestment objectives, financial situation or particular needs of any investor. Before making aninvestment in the Company, an investor or prospective investor should read this document in itsentirety, consider whether such an investment is appropriate to their particular investment needs,objectives and financial circumstances, seek legal and taxation advice appropriate to their jurisdictionand consult a financial adviser if necessary. The Company is not licensed to provide financial productadvice in respect of the Company’s securities.

This presentation may contain forward-looking statements that are subject to risk factors associatedwith exploring for, developing, mining, processing, sale of gold, as well as financing, hedging andsovereign risk matters. Forward-looking statements include those containing such words as anticipate,estimates, forecasts, guidance, outlook, 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 theCompany. It is believed that the expectations reflected in these statements are reasonable but they maybe affected by a range of variables and changes in underlying assumptions which could cause actualresults or trends to differ materially. Nothing in this document is a promise or representation as to thefuture. Actual results may vary from the information in this presentation and any variation may bematerial. Past performance is not an indication of future performance. Statements or assumptions in thispresentation as to future matters may prove to be incorrect and any differences may be material. TheCompany does not make any representation or warranty as to the accuracy of such statements orassumptions. 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 and has notbeen independently verified. No representation or warranty, express or implied, is made as to thefairness, accuracy, completeness or correctness of the information, opinions and conclusions containedin this presentation. To the maximum extent permitted by law, none of the Company or its subsidiariesor affiliates or the directors, employees, agents, representatives or advisers of any such party, nor anyother person accepts any liability for any loss arising from the use of this presentation or its contents orotherwise arising in connection with it, including without limitation, any liability arising from fault ornegligence on the part of the Company or its subsidiaries or affiliates or the directors, employees,agents, representatives or advisers of any such party.

The Company estimates its Ore Reserves and Mineral Resources in accordance with The AustralasianCode for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 Edition ("JORCCode"), which governs such disclosures by companies listed on the Australian Securities Exchange. TheJORC Code differs in several significant respects from Industry Guide 7 of the US Securities and ExchangeCommission (“SEC”), which governs disclosures of mineral reserves in registration statements andreports filed with the SEC. In particular, Industry Guide 7 does not recognise classifications other thanProved and Probable Reserves, and the SEC does not permit mining companies to disclose MineralResources in SEC filings.

The Company’s fiscal year (‘FY’) is 1 July to 30 June, e.g. FY19 = 1 July 2018 to 30 June 2019.

The Company uses Australian dollar presentation currency for reporting purposes. Financial figures are inAustralian dollars unless otherwise stated. Several items in this presentation are shown in US dollars toaid comparison. US$ in this presentation converted from previously published A$ results using FXrates used in preparation of published quarterly reports and financial statements as follows:

Averages: FY19 = 0.7152, FY18 = 0.7751, FY17 = 0.7539, FY16 = 0.7281, FY15 = 0.8319, FY14 = 0.9178.

Quarterly average rates: Q1 FY19 = 0.7314, Q2 FY19 = 0.7168, Q3 FY19 = 0.7124, Q4 FY19 = 0.7001.

30 Jun spot rates: 2019 = 0.7021, 2018 = 0.7407, 2017 = 0.7695, 2016 = 0.7452, 2015 = 0.7713, 2014 =0.9430 (Thomson Reuters). All forward looking estimates converted at A$1.00 = US$0.70 per initialFY20 guidance released in June 2019 Quarterly Report.

For reference, at 13 September 2019 A$1.00 = US$0.6873 www.rba.gov.au.

Australian Securities Exchange (ASX) Listing code “SBM”

American Depositary Receipts (ADR OTC code “STBMY”) through BNY Mellon,

www.adrbnymellon.com/dr_profile.jsp?cusip=852278100

Title slide picture: Leonora Operations at duskPublished 16 September 2019

Denver Gold Forum 16-18 September 2019

http://www.rba.gov.au/

http://www.adrbnymellon.com/dr_profile.jsp?cusip=852278100

Denver Gold Forum 16-18 September 20193 /

Contents

• Overview• Safety• FY19 Financial Highlights• Balance Sheet• Operations & Growth Projects

o Atlantic Goldo Gwaliao Simberi

• Exploration• Strategy• Conclusion

Underground at Gwalia

Corporate Overview

4 / Denver Gold Forum 16-18 September 2019

1. As at close 13 Sep 2019 2. 3 months to 13 Sep 2019, Deutsche Bank 3. Basic EPS for FY19 4. As at 30 Jun 2019. Cash balance comprises A$212 M cash, A$678 M term deposits and excludes A$2 M restricted cash, net of A$780 M Atlantic consideration paid in July 2019 5. Refer corresponding Ore Reserves and Mineral Resources slides in Appendix, Leonora and Simberi as at 30 June 2019, Atlantic Gold as at 13 March 2019 6. Non IFRS measure, refer corresponding slide in Appendix. 7. FY20F guidance released 24 July 2019 ‘Quarterly Report Q4 June FY19’ 8. Atlantic Gold production attributable to St Barbara from 19 July 2019. 9. C$100M debt facility acquired with Atlantic Gold on 19 July 2019

ASX 200 (ASX: SBM; ADR: STBMY), est. 1969Commodity Gold (Au)

Market Cap1 A$2.0 B @ A$2.91/sh (US $1.4 B)

Shares1 696 M

Liquidity2 9.5 M/day (1.4%)

FY19 EPS3 A$0.27 (US$0.19)

FY19 Total Dividend A$0.08 (US$0.06)

Cash and cash deposits4 A$110 M (US$77 M)

Debt9 A$112 M (US$79 M)

Ore Reserves (JORC) 5 5.9 Moz (4.1 Moz + 1.9 Moz)

Mineral Resources 5 12.0 Moz (9.6 Moz + 2.4 Moz)

FY19A FY20F7

Consolidated 362 koz @ AISC6 A$1,080/oz (US$772/oz) 310 to 335 koz @ AISC A$1,250 to A$1,350/oz (+Atlantic TBA) (US$875 to $945/oz)

Gwalia 220 koz @ AISC A$1,027/oz (US$735/oz) 200 to 210 koz @ AISC A$1,230 to A$1,290/oz (US$861 to $903/oz)

Simberi 142 koz @ AISC A$1,162/oz (US$831/oz) 110 to 125 koz @ AISC A$1,285 to A$1,450/oz (US$900 to $1,015/oz)

Atlantic Gold8 93 koz @ AISC A$862/oz (US$616/oz) Due to be released in Q1 September FY20 quarterly report


St Barbara Safety Focus

Total Recordable Injury Frequency Rate1

9.0

6.0

4.15.0

2.11.2

2.1

5.0

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19

• The Total Recordable Injury Frequency Rate corresponds to 23 low severity injuries in last 12 months• Deterioration is being vigorously addressed with focus on HS culture and maturity, personal accountability and safety mindset• St Barbara’s safety record remains below peer average3

• Atlantic Gold to be included in safety reporting from Q1 FY20• Atlantic Gold nominated for John T Ryan Safety Trophies Competition in its first two years in operation

1.1

1.61.9 2.0

St BarbaraFY19

WA Metal,Underground

WA Gold WA Metal,Surface

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 http://www.dmp.wa.gov.au/Documents/Safety/MSH_Stats_Reports_SafetyPerfWA_2017-

18.pdf

http://www.dmp.wa.gov.au/Documents/Safety/MSH_Stats_Reports_SafetyPerfWA_2017-18.pdf

6 /

FY19 Financial Highlights


• FY19 production 362 koz @ AISC1 of A$1,080/oz (US$772/oz)• Simberi record production and cash flow for FY19• Continued successful Gwalia deep drilling and exploration

Operational excellence

• NPAT of A$144 M (US$103 M)• FY19 operating cash contribution2 of A$289 M (US$207 M)• A$783/oz (US$560/oz) cash contribution2

Financial performance

• A$110 M (US$77 M) cash at bank (net of Atlantic Gold consideration)3

• A$112 M (US$79 M) debt + A$200 M (US$140 M) undrawn debt facility4

• FY19 total dividend A$0.08 (US$0.06) per share

Capital management

• Atlantic Gold acquisition completed 19 July 2019• Life-of-mine extension projects or studies at all mines• Operating cash flow will fund all anticipated growth projects

Growth

FX conversion per note on page 2. 1. Non IFRS measure, refer corresponding slide in Appendix. 2. Cash contribution is a non-IFRS measure, refer page 4 2019 Directors’ and Financial Report. Cash contribution per ounce – cash contribution ÷ ounces of gold sold. 3. Cash balance comprises A$212 M cash, A$678 M term deposits, and excludes A$2 M restricted cash, net of A$780 M Atlantic consideration paid in July 2019. 4. A$112M (C$100M) debt facility acquired with Atlantic Gold on 19 July 2019

2.1

6

32

36

64

50

3.0

12

39

44

62

51

2.2

8

27

42

56

43

Dividend yield (%)

Dividend per share(A$ cents)

EPS (basic, A$ cents)

Simberi EBITDA margin (%)

Gwalia EBITDA margin (%)

EBITDA margin (%)

FY19

FY18

FY17

3

2

2

7 /

FY19 Key Financial Metrics


1,2

1. Underlying, see page 3 Financial Report2. Non-IFRS measure, refer corresponding slide in appendix3. Based on share price of A$3.59 on 20 August 2019, A$3.99 on 21 August 2018 and A$2.91 on 22 August 2017

1,2

8 /

Australian Gold Peer Comparison – NPAT1


RSG

OGCSAR

SBM

NST

RRL EVN

0

50

100

150

200

250

300

0.0 2.0 4.0 6.0 8.0 10.0

NPA

T1(A

$M)

Market Capitalisation (A$B)

1. Australian gold peers (market cap A$1.3B to A$8.0B) as at 13 September 2019. NPAT and production figures from company reports.

• St Barbara ranks strongly with Australian gold peers on NPAT …

Bubble size = FY19 gold production

9 /

Australian Gold Peer Comparison – ROME1


SBM RRL

OGC

SAR

EVNRSGNST

0%

2%

4%

6%

8%

10%

0.0 2.0 4.0 6.0 8.0 10.0

NPA

T / M

arke

t Cap

.1(%

)

Market Capitalisation (A$B)

1. Return on Market Value of Equity. Australian gold peers (market cap A$1.3B to A$8.0B) as at 13 September 2019.NPAT and production figures from company reports.

• … and on return on market value

Bubble size = FY19 gold production

10 /

Balance Sheet


-268-169 -140 limit

59 102 124

254 288

-400

-200

0

200

400

600

800

FY15 FY16 FY17 FY18 FY19

US$M

Debt Cash Entitlement Offer(net receipts)

625

Undrawn debt facility

US$548 Mpurchase price for Atlantic Gold(net balance US$77 M)

337

Separate A$112 M (C$100 M) debt facility acquired with Atlantic Gold on 19 July 2019

As at 30 June 2019, with A$780 M (US$548 M) applied to settlement of Atlantic Gold acquisition in July. Cash balance excludes restricted cash and A$200 M (US$140 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’. FX conversion per note on page 2.

11 /

Paying Fully Franked Dividends


2.1%3.0%

2.2%Annual Yield1 (%) • Dividend payments recommenced in FY17

• FY19 total dividend of A$0.08 (US$0.06) per share to be paid 25 September 2019

• Cumulative dividend payments of A$0.26 (US$0.20) since FY17

• Dividend yield of 2.2%1

Final A$0.06 Final A$0.08Final A$0.04

InterimA$0.04

InterimA$0.04

A$0.06

A$0.18

A$0.26

FY17 FY18 FY19

Dividends Paid

Dividends Paid (A$)

Cumulativedividend

(A$)

Total

1. Annual dividend yield is a Non IFRS measure. It is calculated as (interim plus final dividend) ÷ share price at date final dividend announced.

Atlantic Gold acquisition completed 19 July 2019

12 / Denver Gold Forum 16-18 September 2019Touquoy pit lookout, Atlantic Gold Operations.


Transformational Acquisition Consistent with our Strategy "Stronger for Longer"

Diversify production base

Sustainable long lifeoperations

Quality growth pipeline

Talented people who deliver

Trusted to operate

• 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+ kozpa

• Atlantic has meaningful reserves with mine life of 12 years2

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

• Significant growth potential through planned reserve / resource expansion and regional drilling programs

• Establishes a platform for future growth in North America

• St Barbara has retained the existing operating team and key Atlantic executives

• 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 = 0.72002. Based on production schedule reported in 25 March 2019 ‘Updated MRC Production Schedule’ Atlantic news release

For full details refer to release 15 May 2019 ‘Acquisition of Atlantic Gold Corporation and Equity Raising’

97 103 91

174 231 254 234

195 161

103 59 32

2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Touquoy Beaver Dam Fifteen Mile Stream Cochrane Hill

Atlantic Gold Production Profile

Processing plant commissioned in October 2017 Commercial production declared in March 2018 Production of 93 koz in FY19 Beaver Dam ore will be trucked to Touquoy processing plant once Touquoy reserves are

mined (expected to be from CY22 onwards)

Integration of satellite deposits (Fifteen Mile Stream and Cochrane Hill pits) planned to increase gold production to 200+ koz annually (CY23 onwards)

Provides 12 year mine life based on current reserves2

Currently proposed to construct a 2.0 Mtpa concentrator at each pit (gold concentrate to be processed at Touquoy)

Touquoy_____

Beaver Dam

Fifteen Mile Stream

____Cochrane Hill

Corridor RegionalProgram

Resource Expansion Drilling (Cochrane Hill, 149 Deposit)

LOM Production Schedule1 (koz)

1. Based on production schedule reported in 25 March 2019 "Updated MRC Production Schedule" Atlantic news release

Central processing facility

Touquoy pit


Atlantic Gold Production and Cost Profile

1822

28

2320

23

FY18Q3 Mar

FY18Q4 Jun

FY19Q1 Sep

FY19Q2 Dec

FY19Q3 Mar

FY19Q4 Jun

503 602 682 707

1.44 1.281.54 1.37 1.21 1.16

Milled Grade(g/t Au)

Reserve Grade2

1.1 g/t Au June 2019

Production(koz)

FY18• Commercial production declared

March 2018

FY19 actual• Production 93 koz • AISC1 A$862/oz (US$616/oz)

FY20 guidance• Guidance due to be released in the

Q1 September FY20 quarterly report• Atlantic Gold production attributable to

St Barbara from 19 July 2019

1. Non IFRS measure, refer corresponding slide in Appendix. FX conversion as per page 22. June 2019 Reserve grade 1.1 g/t Au, refer ASX announcement released 21 August 2019 titled ‘Ore Reserves and Mineral Resources

Statements 30 June 2019’.

AISC1

(US$/oz)


1. Atlantic Gold holds a 63.1% beneficial interest in Touquoy. Atlantic Gold owns 60% of Touquoy and 7.9% of Moose River Resources Inc. (MRRI) that has a 40% carried interest in Touquoy. Atlantic Gold 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 Gold 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. 2. As per mining profile expected production of 2.9 koz from Fifteen Mile Stream in 2021, 2022 is first full year of production


Atlantic Gold Timeline and Expansion Plan

CY19 CY20 CY21 CY22 CY23

Production currently planned from 2022

ProducingTouquoy (63.1%)1

Beaver Dam (100%)(37km from Touquoy)

Environmental application and constructionFifteen Mile Stream (100%)(57km from Touquoy)

Cochrane Hill (100%)(80km from Touquoy)

Environmental application and construction


Production currently planned from late 20212


(Commercial production declared in March 2018)

Environmental application and construction

• Scope to expand production beyond existing 12 year reserve life1

• Expansion potential across all pits, with focus on targets along strike between Touquoy and Fifteen Mile Stream

• The 149 Deposit was the first discovery of the Corridor Regional Program, in June 2018

• Encouraging results were also obtained from the Seloam Brook, Mill Shaft and Cameron Flowage

• Exploration program2 to follow up previous results and also target Bear Brook, Union Dam, Jed Lake and Wire Lake prospects

Atlantic Gold Reserve and Resource Development

Denver Gold Forum 16-18 September 201917 / 1. Based on production schedule reported in 25 March 2019 "Updated MRC Production Schedule" Atlantic news release2. Exploration targets = Green (Tier 1), Blue (Tier 2) and Red (previously drilled)

0 5 10 km

18 /

Gwalia


Aerial view of Leonora Operations


Gwalia Production, Cost and Grade Profile

Gwalia – Absorption Chiller Plant FY20F AISC is midpoint of guidance, released 24 July 2019 in ‘Q4 June FY19 Quarterly Report’. AISC is a non IFRS measure, refer corresponding slide in Appendix. June 2019 Reserve grade 6.4 g/t Au, refer ASX announcement released 21 August 2019 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2019’. FX conversion per note on page 2.

Jumbo underground at Gwalia

83109

131

185 183214

248267 265 268

220200210

863700

570 592 622735

882

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20F

Production(koz)

AISC(US$)

6.95.7 6.3

8.8 8.2 8.4 8.9 9.3 10.712.5

11.1

8.0

Mined Grade(g/t Au)

Reserve Grade6.4 g/t Au June 2019

20 /

Gwalia Animation


Animation of Gwalia underground mine available at https://youtu.be/D3uo4FKCi2I

https://youtu.be/D3uo4FKCi2I

21 /

Gwalia Extension Project Update | On Schedule


FX conversion as per page 2.1. PAF involves mixing paste from surface with waste crushed underground to fill stope cavities.2. Project announced 27 March 2017 ‘Gwalia Extension Project approved’.

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

• Budget of A$112 million (US$82 M) with planned completion in Q3 March FY202

• A$100 million (US$75 M) spent on project to date • PAF circuit on 1420 and 1460 levels is complete, with wet

commissioning well underway• Final 525 metre underground raisebore commenced in July 2019

PAF chamber, 1460 mbs, August 2019

22 /

Gwalia | Total material moved


GEP to liberate 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

4169 82

78106

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 Extension Project | Ventilation Plan

Denver Gold Forum 16-18 September 201923 / For details refer to commentary in ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

Exploration | Gwalia Deeps


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

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

Exploration | Gwalia Regional Targets

Denver Gold Forum 16-18 September 201925 / For full explanation and results refer to results table in ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

26 /

Simberi


Jason Eade, Manager Fixed Plant Maintenance, viewing the Ropecon Simberi Operations, July 2019.

AISC1

(US$)

27 /

Simberi Production, Cost and Grade Profile


44

80

110 116

135 142

110

125

2,111

1,218941 895 828 831

958

FY14 FY15 FY16 FY17 FY18 FY19 FY20F

1. AISC is a non IFRS measure, refer corresponding slide in Appendix. FX conversion per note on page 2. 2. FY20F AISC is midpoint of guidance, released 24 July 2019 in Q4 June 2019 Quarterly Report.

Production(koz)

1.00 1.23 1.26

1.13 1.25

1.43 1.16

Reserve Grade1.3 g/t Au June 2019

Mined Grade(g/t Au)

Simberi processing plant. Photo by Anna Mote.

28 /

Simberi Sulphide | Potential Long Life Mine Extension


Samat, 83 koz

Botlu, 109 koz

Pigibo, 57 koz

Pigiput, 1,006 koz

Sorowar, 122 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 @ 2.4 g/t Au,

3.3 Moz Sulphide Resource @ 1.6 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 21 August 2019 ‘Ore Reserves and Mineral Resources Statements 30 June 2019’3. For details refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

29 /

Exploration | Sorowar Pit, Simberi Island

Denver Gold Forum 16-18 September 2019 For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’.

30 /

Mine Life


2030

2021

2020

2018

2031

2024

2024

2015 2020 2025 2030

FY19

Atlantic Gold

FY18

FY17

FY16

Simberi (oxide)

FY18

FY17

FY16

Gwalia

Life of Mine

Mine life as published in relevant Annual Report, based on corresponding Ore Reserves and Mineral Resources StatementsNote: Atlantic Gold mine life based on production schedule reported in 25 March 2019 “Updated MRC Production Schedule” Atlantic news release.


Exploration | FY20 Guidance – US$14 to US$20 million

FX conversion per note on page 2. Total guidance A$20-28M, Leonora A$7-9M, Pinjin, Lake Wells and Back Creek A$5-7M, PNG A$8-12M. For full explanation and results refer to ASX release 24 July 2019 ‘Quarterly Report Q4 June FY19’

US$5 – US$6 million Leonora • Greater Gwalia Area • Gwalia Deep Drilling

US$4 – US$5 million Pinjin, Lake Wells and Back Creek • Geophysics/aircore drilling of identified targets

US$6 – US$8 million PNG• Simberi Oxides/Sulphides and Porphyry• Newcrest have advised that they do not wish to

exercise their option and are withdrawing from the Option and Farm-in Agreement on Tatau and Big Tabar Islands

Atlantic Gold • FY20 guidance to be provided in

Q1 September FY20 Report

Exploration Activities


Simberi Island Group (PNG)Pinjin, Western Australia

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

Leonora, Western Australia

33 /

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

34 /

Growth Pipeline


Atlantic Gold(Regional)

Tabar Island Group (Au, Au-Cu)

Atlantic Gold(Beaver Dam)

Back Creek Atlantic Gold(Cochrane Hill)

Peel Mining(16%) Greater Gwalia Atlantic Gold

(Fifteen Mile Stream)

Catalyst Metals(14%) Pinjin Simberi Sulphide Atlantic Gold

(Touquoy Mine, 63.1%1)

Duketon Mining(12%)

Aust Potash (Au, EJV)

Gwalia (optimisation and extension projects) Simberi Mine

Prodigy Gold(8%)

Horn Island(Au, EJV with AQX) Tower Hill Gwalia Extension Gwalia Mine

Equity Investments Exploration Feasibility Construction Producing

KEY

Canada

Papua New Guinea

Australia

Equity Investments

Production

1. Atlantic Gold holds a 63.1% beneficial interest in Touquoy. Atlantic Gold owns 60% of Touquoy and 7.9% of Moose River Resources Inc. (MRRI) that has a 40% carried interest in Touquoy.

35 /

Conclusion

• Current operations continue to perform well, with record production and cash flow from Simberi in FY19

• Atlantic Gold acquisition consistent with strategic objectives

• FY19 NPAT of A$144 M (US$103 M)

• Total FY19 dividends of A$0.08 (US$0.06) per share

• Significant drilling results at Gwalia Deeps and regionally

• Continued positive Simberi Sulphide drilling results

• Life-of-mine extension projects or studies at all mines, funded from forecast cash flow

• A$110 M (US$77 M) cash at bank1, A$112 M (US$79 M) debt, andA$200 M (US$140 M) undrawn debt facility1


Portal entrance at Gwalia

1. Balance comprises A$212 M cash, A$678 M term deposits and excludes A$2 M restricted cash, net of $780 M Atlantic consideration paid in July 2019. In addition to an undrawn A$200 M debt facility, A$112 M (C$100M) debt facility was acquired with Atlantic Gold on 19 July 2019. FX conversion per note on page 2.

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

36 /

Questions?


Simberi truck fleet, February 2019. Photo by Elvis Karon.

37 /

Appendices


Water sampling at Leonora

38 /

Consolidated Production, Costs (A$), 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 kozSimberi oz 134,661 35,862 35,987 34,097 36,231 142,177 140 koz 110 to 125 kozConsolidated 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

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

Q1 March CY 2018

Q2 June CY 2018

Q3 September CY 2018

Q4 December CY 2018 CY 2018

Q1 March CY 2019

CY 2019 Guidance

Tonnes milled (kt) 188 567 581 541 2,108 528

Gold head grade (g/t Au) 1.53 1.28 1.54 1.37 1.41 1.21

Recovery (%) 94.9 95.2 95.5 94.7 94.9 95.1

Gold produced (oz) 18,183 22,269 27,570 22,509 90,531 19,612 92,000 to 98,000

Gold sold (oz) 17,187 22,728 27,026 23,405 90,346 19,173

Cash costs (C$/oz) 549 569 541 574 558 689 560 to 610

AISC (C$/oz) 751 743 695 749 731 874 695 to 755

Atlantic Gold Operating Data

Source: Atlantic Gold Corporation quarterly Management, Discussion & Analysis releases39 / Denver Gold Forum 16-18 September 2019


• Atlantic Gold has 21 exploration projects in Nova Scotia, with >2,200km2 of exploration tenements

• Key exploration targets are near current deposits, the Moose River corridor program and south-west region

• Limited drilling has occurred to date, planning now to increase focus on exploration across extensive tenement holding

Atlantic Gold Exploration

41 /

Gwalia Deeps | 1620 – 1700 Lode Schematic


42 /

Exploration | Sorowar Pit, Simberi Island


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


43 /

Ore Reserves Summary as at 30 June 2019 + Atlantic Gold

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) 2,220 8.0 568 7,915 5.9 1,506 10,135 6.4 2,073

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

Simberi Oxide, (PNG) 1,547 1.5 75 5,346 1.2 213 6,893 1.3 288

Simberi Sulphide, (PNG) 1,615 2.0 105 16,520 2.4 1,270 18,135 2.4 1,375

Simberi Stockpiles, (PNG) 1,058 0.7 24 - - - 1,058 0.7 24

Total (30 June 2019) 6,440 3.7 772 32,353 1.1 3,295 38,793 3.3 4,066

Atlantic Gold, (NS) 25,400 1.1 902 26,550 1.1 973 51,950 1.1 1,875

Total All Projects 31,840 1.6 1,674 58,903 2.3 4,268 90,743 2.0 5,941

Notes1. Ore Reserves are based on a gold price of: Gwalia (AU$1,600/oz), Tower Hill (AU$1,250/oz), Simberi (US$1,250/oz)2. Cut-off Grades Gwalia (4.7g/t Au), Tower Hill (2.8g/t Au), Simberi Oxide (0.5g/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 2019 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/6. The information for the Atlantic Gold Mineral Resources or Ore Reserves is extracted from the report entitled ‘Moose River Consolidated Mine, Nova Scotia, Canada, NI 43-101 Technical Report’ created on 25

March 2019 and is available to view at stbarbara.com.au . The company confirms that it is not aware of any new information or data that materially affects the estimates of Mineral Resources or Ore Reserves, that all material technical assumptions and technical parameters underpinning the estimates in the market 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 market announcement.

Full details are contained in the ASX release dated 21 August 2019 ‘Ore Reserves and Mineral Resources Statements 30 June 2019’ available at www.stbarbara.com.au


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

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

44 /

Mineral Resources Summary at 30 June 2019 + Atlantic Gold

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) 5,034 7.3 1,183 17,527 6.0 3,393 1,129 5.5 199 23,690 6.3 4,775

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

Simberi Oxide, (PNG) 2,414 1.3 103 10,562 1.1 376 12,886 0.9 383 25,862 1.0 862

Simberi Sulphide, (PNG) 2,897 1.6 150 43,450 1.7 2,375 18,591 1.4 810 64,938 1.6 3,335

Total (30 June 2019) 10,345 4.3 1,436 76,143 2.7 6,718 33,095 1.4 1,443 119,583 2.5 9,597

Atlantic Gold, (NS) 25,180 1.2 936 32,230 1.1 1,183 6,060 1.3 252 63,470 1.2 2,371

Total All Projects 35,525 2.1 2,372 108,373 2.3 7,901 39,155 1.3 1,695 183,053 2.0 11,968

Notes1. 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 Transitional and 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 2019 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves-mineral-resources/ 6. The information for the Atlantic Gold Mineral Resources or Ore Reserves is extracted from the report entitled ‘Moose River Consolidated Mine, Nova Scotia, Canada, NI 43-101 Technical Report’ created on 25

March 2019 and is available to view at stbarbara.com.au . The company confirms that it is not aware of any new information or data that materially affects the estimates of Mineral Resources or Ore Reserves, that all material technical assumptions and technical parameters underpinning the estimates in the market 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 market announcement.

Full details are contained in the ASX release dated 21 August 2019 ‘Ore Reserves and Mineral Resources Statements 30 June 2019’ available at www.stbarbara.com.au


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

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

45 /

Reserves and Resources as at 30 June 2019


Gwalia Reserves

• Increased by net 174 koz after depletion

• Lower average grade 7.5 to 6.4 g/t Au

Gwalia Resources

• Decreased by net 50 koz

• Lower average grade 6.5 to 6.3 g/t Au

Simberi R&R models reviewed

• Oxides reserves marginally decreased, grade maintained at 1.3 g/t Au

• Added 6.4 Mt at near cut-off grade (1.2 g/t Au) of sulphide ore in Pigiput, adding 240 koz and lowering the overall grade deposit to 2.8 g/t Au. Depletion, model changes and drilling resulted in the overall sulphide reserve grade of 2.4 g/t Au.

Atlantic Gold Reserves and Resources

• Atlantic Gold acquired 19 July 2019

Note: For full details refer to ‘Ore Reserves and Mineral Resources Statement 30 June 2019’ released 21 August 2019

4.8 4.8

0.6 0.60.6 0.93.1 3.3

2.49.2

12.0

FY18 FY19

Mineral Resources(Moz)

1.9 2.10.3 0.30.3 0.31.4 1.4

1.93.9

5.9

FY18 FY19

Ore Reserves (Moz)

Gwalia Tower HillSimberi Oxide Simberi SulphideAtlantic Gold

46 /

Gwalia | Lowest Expected Mined Depth

Deepest mineralised intersection in Q4 June 2018 Quarterly Report released 26 July 2018.

Ore

Res

erve

s

Min

eral

Res

ourc

es

deep

est m

iner

alis

ed in

ters

ectio

n

1100

12201300

1380 14201500 1500 1540 1580 1620

1660 1700 1740 1780

21402200

2690

1000

1200

1400

1600

1800

2000

2200

2400

2600

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20F FY21F FY22Fmbs

Lowest Expected Mined Depth in Year

Ore Reserves and Mineral Resources Statements as at 30 June 2019 (released 21 August 2019), Ore Reserves extend down to 2140 mbs, Mineral Resources extend down to 2200 mbs, work continues to seek further extensions.


47 /

Gwalia | Depth of Ore Reserves

Ore ReservesAt end of year

(Moz)

Maximum Depthof Ore Reserves

(mbs)

Ore Reserves and Mineral Resources Statements as at 30 June 2019 (released 21 August 2019), Ore Reserves extend down to 2140 mbs, Mineral Resources extend down to 2200 mbs, work continues to seek further extensions

1540 mbs1740 mbs

1940 mbs2140 mbs 2140 mbs 2140 mbs

1500 mbs 1500 mbs 1540 mbs 1580 mbs 1620 mbs 1660 mbs

0

500

1000

1500

2000

30 Jun 2014 30 Jun 2015 30 Jun 2016 30 Jun 2017 30 Jun 2018 30 Jun 2019

1.9 Moz 1.6 Moz 1.8 Moz 2.1 Moz 1.9 Moz 2.1 Moz

0.0

0.5

1.0

1.5

2.0

2.5

Reserves

MaximumReserves Depth

MaximumMined Depth


Resources

Sustainability Report


Simberi school vs Simberi mining team cricket match

Sustainability Report topics

Governance & Economic Performance• Core values and Code of Conduct• Ethical business conduct with all

stakeholders• Manage for long term growth

Health & Safety• Safe work environment and practices

People• Attract, retain, engage and develop

workforce• Diversity

Social & Communities• Engage, respect and enhance• Minimise adverse impact

Environment• Emissions and incidents• Waste management • Energy efficiency

Sustainability Report

• Complements Annual Report & Corporate Governance Statement

• Disclosure guided by GRI standards

• Available on website at stbarbara.com.au/sustainability/

St Barbara sponsors shootingstars.com.au school netball engagement program in Leonora. Photo provided by Shooting Stars.

Integrated suite ofannual reporting

Sustainability ReportCorporate

Governance Statement

Annual Report

https://stbarbara.com.au/sustainability/

https://stbarbara.com.au/sustainability/

https://stbarbara.com.au/about-us/governance/

https://stbarbara.com.au/investors/annual-reports/

49 /

Gender Diversity


• WGEA Employer Of Choice For Gender Equality since 2014 and the only mining company to be currently certified

• 2018 Winner of AMMA’s Australian Women in Resources Alliance Award

• Representation of women on the board at 33%1

• Representation of women in leadership roles at 29%2

• Overall pay equity gap reduced from 43% in 2007 to 12% in June 2019

• Nil gender pay gap in ‘like-for-like’ roles3

• Bob Vassie, MD & CEO:

• Appointed in 2014 as one of the first WGEA Pay Equity Ambassadors

• Member of AusIMM Council for Diversity and Inclusion

1. Compared to 25.8% nationally, WGEA Australia’s gender equality scorecard Nov 2018 https://www.wgea.gov.au/sites/default/files/documents/WGEA_2017-18%20Gender%20Equality%20Scorecard.pdf

2. Compared to 17.2% for the mining industry, WGEA Australia’s gender equality scorecard Nov 2018 https://www.wgea.gov.au/sites/default/files/documents/WGEA_2017-18%20Gender%20Equality%20Scorecard.pdf

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

Council for Diversity and Inclusion

https://www.wgea.gov.au/sites/default/files/documents/WGEA_2017-18%20Gender%20Equality%20Scorecard.pdf

https://www.wgea.gov.au/sites/default/files/documents/WGEA_2017-18%20Gender%20Equality%20Scorecard.pdf

https://stbarbara.com.au/about_us/governance

50 /

Hedging Summary at 16 September 2019


Financial Year Volume ounces

Price $/oz Delivery (all monthly instalments)

Announced

FY20 27,280 A$1,750 September to December 2019 7 & 19 Feb 2018 and 7 Mar 2018

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

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

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

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

Atlantic Gold Volume ounces

Price $/oz Delivery (quarterly instalments)

Announced

November 2019 to

February 2021110,210 C$1,550 November 2019 to February 2021 21 Sep 2018

(22,720 of initial 50,000 ounces delivered year to date since 1 July 2019)



American Depositary Receipt Information (ADR: STBMY)

American Depositary Receipt Information (ADR: STBMY)

Tickercode

STBMY

Type Sponsored Level 1 ADR

CUSIP 852278100

DR ISIN number

US8522781009

DRExchange

OTC www.otcmarkets.com

Ratio 1 ADR = 5 SBM ordinary shares

DepositaryBank

The Bank of New York Mellon www.adrbnymellon.com

• St Barbara established an American Depositary Receipt (ADR) programme in 1994 with The Bank of New York (now BNY Mellon) as depositary.

• St Barbara’s ADR joined the NASDAQ International Designation program in May 2018, having satisfied NASDAQ’s International Designation compliance, market cap, financial and trading requirements

• Further information on the St Barbara ADR program is available from The Bank of New York (BNY) Mellon Shareowner Services at www.adrbnymellon.com

https://www.otcmarkets.com/

http://www.adrbnymellon.com/

https://www.adrbnymellon.com/?cusip=852278100

https://business.nasdaq.com/list/international-designation

https://www.adrbnymellon.com/?cusip=852278100


Institutional Share Register

Institutional88%Non

Institutional4%

Not analysed8%

Not analysed 8%Other 12%

UK 10%

USA 31%

Australia39%

Data as at 15 August 2019


Substantial Shareholders and Broker Coverage

Substantial Shareholders 1

Van Eck Associates Corp. 12.2%

Institutional Shareholders 2 88%

Shares on issue 696M

American Depositary Receipts (ADR) trade in USA through BNY Mellon (ADR OTC Code ‘STBMY’)

1. As notified by substantial shareholders to 13 September 20192. As at 15 August 2019

Broker Research Coverage

Argonaut James Wilson

Canaccord Reg Spencer

Citi Trent Allen

Credit Suisse Mike Slifirski

GMR David Radclyffe

Goldman Sachs Matthew Frydman

JP Morgan Levi Spry

Macquarie Ben Crowley

RBC Paul Hissey


Board of Directors

54 /

Bob VassieManaging Director and CEOAppointed July 2014

Mr Vassie is a mining engineer with over 30 years’ international mining industryexperience and has 18 years’ experience in a range of senior management roleswith Rio Tinto. He has particular experience in operations management, resourcedevelopment strategy, mine planning, feasibility studies, business improvement,corporate restructuring, and strategic procurement. Mr Vassie is an independentnon-executive director of ASX listed Alliance Mineral Assets Limited.

Tim NetscherChairman – Non ExecutiveAppointed Director February 2014. Appointed Chairman July 2015.Mr Netscher is an experienced international mining executive with extensiveoperational, project development, transactional and sustainability experiencegained in senior executive and board roles over many years. Mr Netscher’sexperience covers a wide range of resources including nickel, coal, iron ore,uranium and gold and regions including Africa, Asia and Australia. Mr Netscher is adirector of ASX listed Gold Road Resources Limited and Western Areas Limited.

David MoroneyDirector – Non ExecutiveAppointed March 2015Mr Moroney is an experienced finance executive with more than 30 years’experience in senior corporate finance roles, including 15 years in the miningindustry, and extensive international work experience with strong skills in finance,strategic planning, governance, risk management and leadership. Mr Moroney isan independent non-executive director of non-ASX listed WA Super (WesternAustralia’s largest public offer superannuation fund) and Hockey Australia Ltd.

Kerry GleesonDirector – Non ExecutiveAppointed May 2015Ms Gleeson is an experienced corporate executive with over 25 years’ boardroomand senior management experience across Europe, North America and Australasia.A qualified lawyer in both UK and Australia, Ms Gleeson has significant experiencein international governance, strategic mergers and acquisitions and complexfinance transactions, as well as in risk and crisis management. Ms Gleeson is a Non-Executive Director of Trinity College, University of Melbourne.

Stef LoaderDirector – Non ExecutiveAppointed November 2018Ms Loader is a company director, geologist and former mining executive withexperience in mining operations, mineral exploration and project development.Ms Loader’s experience covers a wide range of commodities and regions includingcopper and gold in Australia, Laos, Chile and Peru, and diamonds in Canada andIndia. Ms Loader advises organisations, as a director and consultant, in the areasof leadership, strategy and regional economic development and is an independentnon-executive director of ASX listed Clean TeQ Holdings Ltd.

Steven DeanDirector – Non ExecutiveAppointed July 2019Mr Dean’s extensive international mining experience includes a wide range ofcommodities and regions including gold in Canada and Australia, metallurgical coalin North America, and copper, zinc and energy in Canada, United States, Chile andPeru. Previously Chairman and CEO of Atlantic Gold Corporation, and formerPresident of Teck Cominco Limited (now Teck Resources Ltd), Canada’s largestdiversified resource company, Mr Dean is a non-executive director of TSX listedSierra Metals Inc, and Chairman of TSX listed Oceanic Iron Ore Corp.

Executive Leadership Team

Garth Campbell-CowanChief Financial OfficerJoined 2006

Mr Campbell-Cowan is a Chartered Accountant with 30 years’ experiencein finance and management positions across a number of differentindustries. He is responsible for the Group’s Finance function, coveringfinancial reporting and accounting, treasury, taxation, business analysis,capital management, procurement and information technology. Prior tojoining St Barbara, he was Director of Corporate Accounting at Telstra andhas held senior finance leadership roles with WMC, Newcrest Mining andANZ.

Rowan Cole Company Secretary Joined 2010

Mr Cole joined St Barbara in 2010 as General Manager Corporate Servicesand was appointed Company Secretary in 2014. He has over 30 years’experience across chartered accounting, retail banking, private andpublic companies. Mr Cole's experience includes external, internal and ITaudit, strategy formulation, execution and measurement, process andbusiness improvement, marketing, financial services, head of risk andcompliance, chief audit executive and chief financial and risk officer.

Val MadsenGeneral Manager Human and HSECJoined 2013

Ms Madsen joined St Barbara in September 2013 and leads the HumanResources and Health, Safety, Environment and Community functions.With a Masters in Education and a number of other businessqualifications and accreditations, Ms Madsen has particular experience inorganisational development, training and development, diversity andemployee engagement. Prior to joining St Barbara, Val worked forNewcrest Mining and has extensive experience in Human Resources.

Maryse BélangerPresident AmericasJoined 2019Ms Bélanger joined St Barbara in July 2019, followingSt Barbara’s acquisition of Atlantic Gold Corporation, of which she wasPresident, Chief Operating Officer and Director. Ms Bélanger brings over30 years of experience with senior gold companies globally with strengthsin studies, technical services and operational excellence and efficiency.Previously, Ms Bélanger has held senior executive roles at Mirabela NickelLtd, Goldcorp and Kinross Gold Corporation, and has been an active boardmember at Mirabela Nickel, True Gold, Newmarket Gold, SherrittInternational, Plateau Energy Metals and CEEC International Ltd.

Bob VassieManaging Director and CEOAppointed July 2014

Mr Vassie is a mining engineer with over 30 years’ international miningindustry experience and has 18 years’ experience in a range of seniormanagement roles with Rio Tinto. He has particular experience inoperations management, resource development strategy, mine planning,feasibility studies, business improvement, corporate restructuring, andstrategic procurement. Mr Vassie is an independent non-executivedirector of ASX listed Alliance Mineral Assets Limited.


Group Structure

MD & CEOBob Vassie

GM Leonora

Operations

GM Simberi

Operations

GM Atlantic Gold Operations

GM Exploration

GM HR & HSEC

GM Finance &

Procurement

SVP Americas

President Americas

Maryse Belanger

Company SecretaryRowan Cole

CFOGarth Campbell-

Cowan



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 ofMining 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 activitywhich 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 Mustardconsents 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 Instituteof 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 activitywhich 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 Loveconsents 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 for Gwalia, Tower Hill and Simberi is extracted from the report titled ‘Ore Reserves and Mineral ResourcesStatements 30 June 2019’ released to the Australian Securities Exchange (ASX) on 21 August 2019 and available to view at stbarbara.com.au. The Company confirms that it is not aware of any newinformation or data that materially affects the information included in the original ASX announcement released on 21 August 2019 and that all material assumptions and technical parametersunderpinning 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'sfindings are presented have not been materially modified from the original ASX announcement.

The information for the Atlantic Gold Mineral Resources or Ore Reserves is extracted from the report entitled ‘Moose River Consolidated Mine, Nova Scotia, Canada, NI 43-101 Technical Report’ created on25 March 2019 and is available to view at stbarbara.com.au. The company confirms that it is not aware of any new information or data that materially affects the estimates of Mineral Resources or OreReserves, that all material technical assumptions and technical parameters underpinning the estimates in the market announcement continue to apply and have not materially changed. The companyconfirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Full details are contained in the ASX release dated 21 August 2019 ‘Ore Reserves and Mineral Resources Statements 30 June 2019’ available at stbarbara.com.au.

Scheduled ASX Announcements

16 October 2019 Q1 September 2019 Quarterly Report

23 October 2019 Annual General Meeting

https://stbarbara.com.au/




Non-IFRS Measures

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

All-In Sustaining Cost All-In Sustaining Cost is based on Cash Operating Costs, and adds items relevant to sustaining production. It includes some, butnot all, of the components identified in World Gold Council’s Guidance Note on Non-GAAP Metrics - All-In Sustaining Costs andAll-In Costs (June 2013). Refer most recent quarterly report available at www.stbarbara.com.au for example.

Cash contribution Cash flow from operations before finance costs, refer reconciliation of cash movement in the most recent quarterly reportavailable at www.stbarbara.com.au

Cash operating costs Calculated according to common mining industry practice using The Gold Institute (USA) Production Cost Standard (1999revision). Refer most recent quarterly report available at www.stbarbara.com.au for example

Dividend yield Dividend ÷ share priceEBIT Earnings before interest revenue, finance costs and income tax expense.EBITDA EBIT before depreciation and amortisation. EBITDA margin EBITDA ÷ RevenueEarnings Per Share (EPS) Profit attributable to equity holders (excluding any costs of servicing equity other than ordinary shares) ÷ weighted average

number of ordinary shares outstanding during the reporting period.Net-cash Net-cash equivalent to cash and cash equivalents less current and non-current interest bearing borrowingsNet-debt Net-debt equivalent to current and non-current interest bearing borrowings less cash and cash equivalentsROE ‘Return on equity’ is calculated as underlying NPAT expressed as a percentage of average total equity.

Refer 2019 Directors’ and Financial Report (p3) for detailsSignificant Items Items whose nature or amount is considered material to the financial report.

Refer Note 3 of 2019 Financial Report (p51) for detailsUnderlying EBITDA / NPAT EBITDA or NPAT after excluding identified significant items. Refer 2019 Financial Report (p3) for details.2019 Financial Report Refer 2019 Directors’ and Financial Report available at www.stbarbara.com.au






Investor Relations Enquiries

Rowan ColeCompany Secretary

T: +61 3 8660 1900

David CotterellManager Investor Relations

E: [email protected]

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)