#1BOB VASSIE, MANAGING DIRECTOR & CEO GARTH CAMPBELL-COWAN, CFO LISTED X ASX March 2016 Asia Investor Relations Roadshow St Barbara - Australia/Pacific Gold Producer St Barbara LIMITED#2Forward statements St Barbara LIMITED This presentation has been prepared by St Barbara Limited ("the Company"). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. This presentation is not a financial product or investment advice. It does not take into account the investment objectives, financial situation or particular needs of any investor. Before making an investment in the Company, an investor or prospective investor should read this document in its entirety, consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances, seek legal and taxation advice appropriate to their jurisdiction and consult a financial adviser if necessary. The Company is not licensed to provide financial product advice in respect of the Company's securities. This presentation may contain forward-looking statements that are subject to risk factors associated with exploring for, developing, mining, processing, sale of gold, as well as financing, hedging and sovereign 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 the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables and changes in underlying assumptions which could cause actual results or trends to differ materially. Nothing in this document is a promise or representation as to the future. Actual results may vary from the information in this presentation and any variation may be material. Past performance is not an indication of future performance. Statements or assumptions in this presentation as to future matters may prove to be incorrect and any differences may be material. The Company does not make any representation or warranty as to the accuracy of such statements or assumptions. Investors are cautioned not to place undue reliance on such statements. This presentation has been prepared by the Company based on information available to it and has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other person accepts any liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including without limitation, any liability arising from fault or negligence 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 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 Edition ("JORC Code"), which governs such disclosures by companies listed on the Australian Securities Exchange. The JORC Code differs in several significant respects from Industry Guide 7 of the US Securities and Exchange Commission ("SEC"), which governs disclosures of mineral reserves in registration statements and reports filed with the SEC. In particular, Industry Guide 7 does not recognise classifications other than Proved and Probable Reserves, and the SEC does not permit mining companies to disclose Mineral Resources in SEC filings. Financial figures are in Australian dollars unless otherwise stated. The Company's fiscal year ('FY') runs from 1 July to 30 June. As at 17 March 2016, A$1.00 = US$0.76 US$1.00 = A$1.32 (www.rba.gov.au) This presentation published 18 March 2016 2/ Asia Investor Relations Roadshow / March 2016#3Contents > Presenters > Overview & headlines > Operations > Safety > Leonora (WA) > Simberi (PNG) > Half year results > Cash, debt, hedging > Exploration > Summary > '3 moving parts' > Appendices 3 Asia Investor Relations Roadshow / March 2016 Rainbow over Simberi processing plant, January 2016 St Barbara LIMITED#4Presenters B Bob Vassie Managing Director and CEO Appointed 2014 Mr Vassie is a mining engineer with 30 years international mining industry experience, including as Managing Director and CEO of Inova Resources Limited (formerly Ivanhoe Australia Limited) and 18 years with Rio Tinto in a range of senior management roles. He has particular experience in operations management, resource development strategy, mine planning, feasibility studies, business improvement, corporate restructuring, and strategic procurement. St Barbara LIMITED Garth Campbell-Cowan Chief Financial Officer Joined 2006 Garth is a Chartered Accountant with over 25 years experience in finance and management positions across a number of different industries. Garth is responsible for the Group's Finance function, covering financial reporting and accounting, treasury, taxation, business analysis, capital management, procurement and information technology. Prior to joining St Barbara, he was Director of Corporate Accounting at Telstra and has held senior finance leadership roles with WMC, Newcrest Mining and ANZ. 4/ Asia Investor Relations Roadshow / March 2016#5Overview of operations ASX 300 listed Company (SBM), founded 1969 St Barbara LIMITED Consolidated 377 koz @ AISC A$1,007/oz > FY16F3 367 koz @ AISC A$1,025/oz > Shares on issue 495 M > FY15A > Market Cap² > Ore Reserves 30 June 2015 > Mineral Resources 30 June 2015 > ADR OTC code A$1.2 billion 4.0 Moz 9.2 Moz 1 STBMY 1 Leonora > Gwalia underground mine > FY15 AISC A$841/oz > FY15 production 248 koz > FY16F production 245 260 koz Leonora Australia Papua New Guinea Simberi > Open pit mine > Q2 FY16 AISC A$1,319 /oz > FY15 production 80 koz > FY16F production 100 110 koz - > Potential for long life sulphide mine > Near mine targets for exploration 1. 5 Asia Investor Relations Roadshow / March 2016 2. Refer ASX announcement released 25 August 2015 titled 'Ore Reserves and Mineral Resources Statements 30 June 2015', includes King of the Hills & Kailis (subject to sale agreement announced 20 August 2015). As at 17 March 2016, $2.46 ea 3. Midpoint of FY16 Guidance#61H FY16 Headlines: Record 1H profit and cash flow > Statutory profit after tax $77 million > Up 28% on 2H FY15 of $60 million. > Underlying net profit after tax¹ $60 million > Up 40% on 2H FY15 of $43 million > Cash flow from operations $123 million > Up 35% on 2H FY15 of $91 million > Accelerated debt repayment St Barbara LIMITED > A$159 million² (US$121 million³) of debt repaid in 9 months to Feb 2016 (which is US$103 million ahead of debt amortisation schedule, and includes US$55 million repaid in 1H FY16) > Cash balance at 31 December 2015 of $100 million after financing commitments 1. Non IFRS measure, refer slide in appendix 2. 6 Asia Investor Relations Roadshow / March 2016 Actual cash flow 3. Face value debt reduction#71H FY16 Financial Summary¹ B St Barbara LIMITED 1H 2H 1H FY16 FY15 FY15 Gold price Average gold price realised A$/oz 1,564 1,461 1,411 All-In Sustaining Cost³ A$/oz 922 882 1,166 Result > Statutory profit after tax A$M 77 60 (20) > Underlying net profit/(loss) after tax 3 A$M 60 43 (1) EBITDA 3 A$M 161 92 57 > Underlying EBITDA 3 A$M 144 122 64 Cash flow > Cash flows from operating activities A$M 123 91 22 > Cash flows after funding capex4 A$M 98 75 (13) Debt repayments A$M 78 68 3 Credit metrics > Total Debt / EBITDA 3 ratio 1.8 3.8 6.8 EBITDA 3 / Interest Expense ratio 9.4 4.7 3.3 7 Asia Investor Relations Roadshow / March 2016 1. All measures this page below Statutory NPAT exclude results from discontinued operations 2. Repayment of USD debt and leasing facilities 3. Non-IFRS measure, refer appendix, excludes discontinued operations 4. Cash flows from operating activities less payments for PPE, development & capitalised exploration#8Consolidated Gold Production AISC (Consolidated) (A$/oz) 1,374 1,305 1,167 922 882 211 203 190 184 50 29 16 167 58 24 21 30 27 34 36 23 134 136 106 109 114 1H FY14 2H FY14 1H FY15 2H FY15 1H FY16 Gwalia King of the Hills Simberi Gold Ridge koz Figures displayed to nearest koz. Reported ounces in Quarterly Report. St Barbara LIMITED 1H FY16 Operations Highlights > Consolidated production • • 203 koz > Record production for: ● Gwalia • Simberi 136 koz 58 koz > Simberi production • 108 koz for CY 2015 > 1H FY16 AISC¹ A$922/oz > King of the Hills mine and Kailis resource sold 8 Asia Investor Relations Roadshow / March 2016 1. All-In Sustaining Cost, Non IFRS measure, refer corresponding slide in Appendix.#9Start safe, stay safe St Barbara LIMITED Total Recordable Injury Frequency Rate 12.5 9.0 6.0 5.0 4.1 4.1 3.4 FY 11 FY 12 FY 13 FY 14 FY15 Q1 FY16 Q2 FY16 Safety performance > Record low TRIFR¹ of 3.4 at Q2 FY16 > Continued good results for mixed jurisdiction underground / open pit combination > Simberi Emergency Response Team multi prize winners at 2015 national competition³ > Leonora Emergency Response Team multi prize winners, including 'Best Team' at 2015 Underground Mine Emergency Response Competition³ 1. Total Recordable Injury Frequency Rate (12 month avg) 9 Asia Investor Relations Roadshow / March 2016 2. 3. TRIFR includes Pacific Operations from September 2012 Refer slide in appendix#10Leonora, Western Australia Gwalia Haul Road Gwalia-Absorption Chiller Plant 10 Asia Investor Relations Roadshow / March 2016 St Barbara LIMITED New generation Sandvik Underground Mining Truck Byrnecut Jumbo Underground Drill Rig#11Gwalia: production increasing year on year > FY15 AISC¹ A$841/oz > Reserves at 30 June 2015²: 5.3 Mt @ 9.4 g/t Au for 1.6 Moz > Mine life based on Ore Reserves² 7 years > Improvement projects > designed to increase production rate and prepare for mining at deeper levels > waste storage underground > ore pass system > Deep drilling project in progress Mined Grade (g/t Au) 6.9 5.7 6.3 131 109 83 St Barbara LIMITED 8.8 8.9 8.4 8.2 185 183 214 June 2015 Reserve grade 9.4 g/t Au 260 Range 248 245 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY16 F koz 1. 11 / Asia Investor Relations Roadshow / March 2016 2. Non IFRS measure, refer corresponding slide in Appendix Refer ASX announcement released 25 August 2015 titled 'Ore Reserves and Mineral Resources Statements 30 June 2015'.#12Gwalia gold production - 136 koz in H1 AISC (A$/oz) 883 FY15 AISC A$841/oz 645 860 692 846 Mined Grade (g/t Au) 9.7 9.7 8.6 June 2015 Reserve grade 9.4 g/t Au 9.0 FY15 average grade 8.9 g/t Au Production (koz) 77.0 68.6 57.2 7.9 72.4 63.5 FY 15 Q2 Dec FY 15 Q3 Mar FY 15 Q4 Jun FY16 Q1 Sep FY16 Q2 Dec 12/Asia Investor Relations Roadshow / March 2016 St Barbara LIMITED Q2 December FY16 Quarter: > 63,533 oz produced in Q2 (Q1: 72,388 oz) > 135,921 oz produced in H1 FY16 > AISC¹ of A$846/oz (Q1: A$692/oz) > Production in Q2 less than Q1 due to lower grade, partially offset by processing of stockpiles from previous quarter > Ore grade fluctuates within mine sequence and will vary from Q to Q Ore containing an estimated 1,000 oz of gold was stockpiled at the end of Q2 (5,500 oz at end of Q1) > FY 16 Guidance revised: > Production of between 245 - 260 koz (was 230-250 koz) AISC of between A$840/oz and A$900/oz (was A$875/oz - A$940/oz) 1. Non IFRS measure, refer corresponding slide in Appendix#13Gwalia Production Profile - 'Centre out' method Objective: Maximise production, constrained by: 1) 2) Waiting for adjacent/above stope's paste fill to dry Geotech considerations - not too many open stopes too close together = 'Centre out' method 'Centre out' ― extract centre stope of lode first, then move out to edge of lode Maintain 3-4 mining fronts, each as distant from each other as possible 13 Asia Investor Relations Roadshow / March 2016 Stope diagram of South West Branch showing mining in Q3 & Q4 FY2015 St Barbara LIMITED Plunge, centre of lode Historical stopes '(light blue) Q3 FY15 Stopes (dark blue) Q4 FY15 Stopes (red) Stopes on outside of lode - generally lower grade Stopes in centre - generally higher grade = Variable gold production based on stopes in production that quarter#14Developments at Gwalia in FY15 > New absorption chiller plant utilises waste heat from power plant > Deep HV Cable drop to 1,400 mbs > New mining techniques improve production and efficiency Ore Pass system: increases efficiency of trucking and bogging Stopes on level available to be exploited via ore pass 6 1 St Barbara LIMITED Upgraded Cooling System 5 3 8 1420 MM Underground waste storage: allows greater proportion of trucking to surface to be for ore. Paste filled stope Continuous bogging of stopes to ore pass, with daily rate of ore pass evacuation exceeding potential rate of filling Loading of trucks at base of ore pass decoupled from stope bogging activity on the level above 14 Asia Investor Relations Roadshow / March 2016 Paste filled section 1500 1460 Paste plug Waste fill#15Gwalia Mining Strategy Dual Lift Stoping in SWB > mining sequence manages the hanging wall 2 1 Note: Single lift Hanging Wall Span typically 32m (HR=6.15) 5 4 Development fully in ore (limited dilution) 1155// Asia Investor Relations Roadshow / March 2016 45m (HR=6.16) 3 8 00 7 65m St Barbara LIMITED Mining method 6 11 > Long hole stoping with fill > North & South access on two dual lift levels gives 4 > mining areas Greater percentage of free bogging increases productivity of each stope Sill drives fully in ore - reduces development dilution Production drilling parallel to hanging-wall to reduce blast induced dilution#16Gwalia future developments Gwalia deep drilling > Seeking to extend resource > Deep drilling is continuing > No new results since December 2015 quarterly report Gwalia materials handling > In conjunction with drilling, conceptual studies underway to extend mine life, including: > blind and raise-bore shafts with skip hoisting > a shaft with vertical conveying > slurry pumping to surface > new ventilation shafts to facilitate continued truck haulage > Update in Q3 FY16 (Mar 2016) quarterly report > Investment decision in Q2 FY17 (Dec 2016 quarter) 16 / Asia Investor Relations Roadshow / March 2016 J $86w 460 St Barbara LIMITED Reece Zimmermann - Goldroom Operator (L), Paul Owen - Processing Shift Supervisor (R), Gwalia Processing Plant, January 2016#17Exploration: Gwalia Deep Drilling Program Long Section Looking West Recent Diamond Drill Hole Previous Diamond Drill Hole Intersection Recent Drilling Result Planned Target Main Lode South West Branch South Gwalia Series West Lode Development Stoping GWDD131 0.3m @ 6.9g/t (ML) 4.2m @ 3.0g/t (SWB) 2.7m @ 4.3g/t (SGS) 1.2m @ 15.8g/t (WL) GWDD17A 1.8m @2.2g/t (ML) 4.0m @ 2.7g/t (SWB) 2.2m @ 2.0g/t (SGS) GWDD17 1.6m @6.2g/t (ML) 1.1m @ 1.6g/t (SWB) 6.5m @ 5.5g/t (SGS) Open Recent Diamond Drilling- Underground Development at 1,560mbs GWDD17B In Progress 017-022 Gwalia Drawn January 2016 St Barbara LIMITED GWDD13J 1.8m @ 5.9g/t (ML) 2.6m @67.2g/t (SWB) 4.1m @ 5.7g/t (SGS) 1.1m @ 3.1g/t (WL) GWDD13K 1.4m @ 1.4g/t (ML) 3.5m @ 25.3g/t (SWB) 12.0m @ 3.0g/t (SGS) GWDD13L 250m 1,500mbs 1,800mbs 2,000mbs Lode Extensions 0.6m @ 2.7g/t (ML) 3.9m @0.9g/t (SWB) 11.2m 5.6g/t (SGS) 2,200mbs Gwalia Deep Drilling Program The full drilling program is aimed at delineating an indicated resource to support the planned shaft studies. Refer report¹ for full results of recent 6 holes that successfully intersected mine sequence > South West Branch intercepts similar to 1,100 1,300 mbs, significantly thinner to levels currently being mined and in reserve. Further drilling through until Q1 Sep FY17 is planned to complete the program. > Program expected to create additional reserves (based on trucking). Materials. handling studies will continue. 1. For full explanation and results refer to ASX release 21 January 2016 'Quarterly Report December 2015' 17 Asia Investor Relations Roadshow / March 2016#18Simberi St Barbara LIMITED Staff BBQ & Relaxation Deck Ropecon looking east to Pigiput Bay and plant below 500B50D BELL Hitachi 1200 Excavation loading Bell 50D Articulated Dump Truck 18 Asia Investor Relations Roadshow / March 2016 SAG Mill#19Simberi PNG - status St Barbara LIMITED Simberi: > profitable since month of December 2014 > produced at target 100,000 ounce per annum production run rate since month of December 2014 > produced 107, 553 ounces of gold in > > > CY 2015 forecast to produce between 100,000 and 110,000 ounces for FY16 approx. 3 years of oxide-only mine life remaining (local exploration continuing) exploration lease EL609 covering the Tabar Island group (which includes Simberi Island) is highly prospective¹ Simberi Sorowar Monun Ck Papua New Guinea SBM Oxide Target ★Mine Plant . Aerial Rope Conveyor Sorowar Pit Outline Mt Siro Processing Plant Aerial Rope Simberi Conveyor Seraror Mt Tiro Tatau Big Tabar Banesa EL609 ML136 N 5km 19/Asia Investor Relations Roadshow / March 2016 1. Refer Q2 December 2015 Quarterly Report released 21 January 2016#20Simberi: record half year and calendar year gold production St Barbara LIMITED AISC (A$/oz) 1,619 1,310 Production (koz) 17.3 22.5 1,319 1,252 1,149 29.4 28.4 27.1 Q2 December FY16 Quarter: > 28,379 oz produced in Q2 (Q1: 29,539 oz) > Record production: > 58 koz for H1 FY16 > 108 koz for CY 2015 > AISC¹ of A$1,319/oz impacted by significant equipment purchase including: > Two new low hour excavators cost US$2M, arriving February (plus four low hour trucks purchased in Q3 due in Feb) > Underlying 'Total cash operating cost'¹ 2% lower in Q2 than in Q1 > FY 16 guidance refined: > Production between 100 - 110 koz (was 90 - 110 koz) AISC between A$1,350 and A$1,430/oz (was A$1,275 to A$1,400/oz) > FY 15 Q2 Dec FY 15 Q3 Mar FY 15 Q4 Jun FY 16 Q1 Sep FY 16 Q2 Dec 20 Asia Investor Relations Roadshow / March 2016 1. Non IFRS measure, refer corresponding slide in Appendix#21Simberi Ore Delivery System FEEDER BREAKER CV01 Fixed Speed Feed Conveyor 21 Asia Investor Relations Roadshow / March 2016 ROPECON (CV02) 2.7km long Aerial Rope Conveyor CV03/CV10 St Barbara LIMITED Overland Conveyor SAG APRON FEEDER CV04/ STACKER#22Organic Growth - Simberi sulphide Sulphide Oxide Oxide Sulphide St Barbara LIMITED Oxide Simberi - Sorowar pit - 13 Aug 2015 (oxide ore being mined, exposing the sulphide wall behind) Simberi schematic cross section - oxide mining is a pre-strip for sulphide mining Sulphide mining at Simberi potentially extends life based on existing reserve, open at depth¹ Simberi oxide mine life ~3 years¹ Oxide mining pre-strips for sulphide mining Current Mining lovel Oxide Pit Design Sulphide Pit Design St Barbara Simberi Operations Sulphide Transition Oxide > Reserves of 19.9 Mt @ 2.0 g/t Au for 1.3 Moz² contained gold with further drilling planned. Schematic showing a theoretical oxide/sulphide pit design > Processing options being considered, favouring a low capex flotation circuit, with export of a concentrate 1. Refer ASX announcement 20 October 2015 "Quarterly Report Q1 September 2015" 2. 22 / Asia Investor Relations Roadshow / March 2016 Refer ASX announcement released 25 August 2015 titled 'Ore Reserves and Mineral Resources Statements 30 June 2015'.#23Simberi PNG - Pre-feasibility Study > Pre-feasibility Study (PFS) due April 2016 > Progress report on the PFS proposes: > Sulphide Project utilises the existing infrastructure on Simberi Island, including the airport, power station, village and wharf > the existing semi-autogenous grinding (SAG) mill and ball mill would be utilised in new plant flowsheet and maintain the ability to process both oxide and sulphide ores processing sulphide ore to produce saleable concentrate is the preferred option, avoids need for downstream processing on the Island > Some parts of the oxide reserve are contained within the Sulphide Project pit shell and would continue to be processed to generate gold doré 23 Asia Investor Relations Roadshow / March 2016 Ship unloading at Pigiput Bay port. St Barbara LIMITED#24Simberi PNG-PFS preliminary results Scope Ore Reserves at 30 June 2015¹ Capex Production Mill throughput Recovery Output All-In Sustaining Cost³ Produce and sell gold concentrate from sulphide ore and gold doré from oxide ore Sulphide: 19.9 Mt @ 2.0 g/t Au for 1,285 koz of contained gold Oxide: 19.1 Mt @ 1.3 g/t Au for 818 koz of contained gold² US$100 million (A$140 million at A$/US$ 0.70) comprising: US$43 million processing plant US$42 million mining fleet (consider alternative) US$15 million general site infrastructure St Barbara LIMITED Sulphide average annual production c. 140,000 ounces over 7 years - (1 Moz in total) Oxide annual production within the Project varies (140,000 oz in total) 2.0 Mtpa c. 83% Gold concentrate @ 30+ g/t Au from sulphide ores Gold doré from oxide ores US$930 to US$990 per ounce The above project metrics are based on a progress report on the PFS and subject to the assumptions contained therein. The results may change as the PFS is finalised. It is envisaged that further optimisation and value engineering activities will continue on the Project during the strategic review. 1. Refer ASX release 25 August 2015 'Ore Reserves and Mineral Resources Statements as at 30 June 2015' 2. Parts of the existing oxide reserve are contained within the Sulphide Project pit shell, and are subject to optimisation of the existing oxide operation 24 Asia Investor Relations Roadshow / March 2016 3. Non-IFRS measure, refer corresponding slide in Appendix#25> Simberi PNG -Strategic review St Barbara LIMITED Need to evaluate the potential investment in the Simberi Sulphide Project against the Company's other potential investment opportunities > to maintain continuity of production a decision on the Sulphide Project would be required by December 2016 > Cutfield Freeman & Co appointed to assist the Company to conduct a Strategic Review and evaluate various options regarding its PNG assets, including: > > Sulphide Project > existing oxide operation, and > EL609 exploration licence across the Tabar Island Group (inc. Simberi, Tatau and Big Tabar Islands). The Strategic Review is anticipated to take approximately 6 months and will explore a range of options for the Company's various PNG assets including: > continued ownership, exploration and development > joint ventures > divestment of some or all of the assets. 25 Asia Investor Relations Roadshow / March 2016#26FY16 Half Year Financial Results B Spot Gold Price St Barbara LIMITED > Profit $1,800 > Cash flows $1,700 A A$/oz $1,600 > Cash, debt & $1,500 hedging $1,400 $1,300 US$/oz $1,200 $1,100 $1,000 Dec 14 Mar 15 Jun 15 Sep 15 Dec 15 Mar 16 A$/oz US$/oz 26 Asia Investor Relations Roadshow / March 2016 Source: IRESS to 17 March 2016#27Half on Half Profit Comparison Half on Half Underlying Profit 1,2 & Significant Items St Barbara LIMITED -25 -16 43 -8 -1 -14 -7 -203 60 285 17 FY14 FY14 FY15 FY15 1H 2H 1H 2H FY16 1H A$M ■NPAT Underlying (continuing operations) Significant items 1. All excluding results from discontinued operations 2. Non-IFRS measure, refer appendix 27 Asia Investor Relations Roadshow / March 2016#28Cash movement 1H FY16 77 B Cash movement 1H FY16 128 16 -78 -17 St Barbara LIMITED -8 -10 -8 100 Cash Leonora Ops Simberi Ops Jun 2015 Debt repayments Interest payments A$ million Exploration Corporate (incl capex) Other Cash Dec 2015 28 Asia Investor Relations Roadshow / March 2016#29Cash and Debt FY15 and H1 FY16 Debt, Cash Balance & Contribution from Operations (FY15 to present) St Barbara LIMITED 420 A$ Debt²,3 390 367 358 347 325 325 325 US$ Debt 293 284 271 249 216 204 108 115 A$ Cash balance¹ 100 approx. 100 77 68 56 80 70 69 A$ Cash Contribution 57 10 32 FY15 Q1 Sep FY15 Q2 Dec FY15 Q3 Mar FY15 Q4 Jun FY16 Q1 Sep FY16 Q2 Dec FY16 22 Feb 16 A$ Cash Contribution A$ Cash balance US$ Debt A$ debt 1. Excluding restricted cash 3. A$ equivalent net of transaction costs 29 Asia Investor Relations Roadshow / March 2016 2. A$/US$ exchange rates per Reuters/ www.rba.gov.au (selected rates displayed in corresponding table in appendix) 4. Cash contribution from operations per cash movement table in Quarterly Reports (eg: p11, December 2015 Quarterly Report)#30Debt and hedging at 31 December 2015 St Barbara LIMITED US Senior Secured Notes > > US$250 million issued March 2013, US$168 million balance at 22 Feb 2016 6 monthly interest payments in arrears each April and October Interest rate 8.875% p.a., matures April 2018 > US$16 million repurchased in 1H FY16 > Additional US$12 million repurchased in February 2016¹ Red Kite debt facility > Eight equal quarterly principal repayments (scheduled Q1 Sep 2015 to end Q4 Jun 2017) > First US$9 million instalment paid in September 2015 > US$30 million repayment in December 2015 quarter > Balance remaining at 31 Dec 2015 US$36 million Hedging > > At 23 Feb 2016, approx. 33,000 oz of gold forward contracts to be delivered by June 2016 at A$1,600/oz 40,000 oz of gold put and call options contracts which expire 30 Jun 2016 (minimum US$1,187/oz, maximum US$1,287/oz) to secure US$ cash flow to repay Red Kite in full by June 2016 1. Inc. US$10 million announced 9 Feb 2016 30/ Asia Investor Relations Roadshow / March 2016#31Cash and debt St Barbara LIMITED June 2014 June 2015 Dec 2015 22 Feb A$M A$M A$M 2016 A$M Cash balance 1 79 77 100 ≈100 Interest bearing debt FX 0.94302 0.7713² 0.73063 0.71073 > US Senior Secured Notes US$ 250 196 180 168 > Red Kite US$ 75 75 36 36 > Total USD$ debt US$ 325 271 216 204 > A$ equivalent4 A$ 330 A$ 342 A$ 290 A$ 281 > Lease liabilities 10 ། 5 3 ། > Total 340 347 293 284 Developments in December Quarter 2015 > Repurchase additional US$3 million Senior Secured Notes > US$30 million Red Kite pre-payment Feb 2016 - repurchase additional US$12 million Notes 1. 2. Excluding A$2 million restricted cash Reuters 4. 5. 31 / Asia Investor Relations Roadshow / March 2016 A$ equivalent net of transaction costs Inc. US$10 million announced 9 Feb 2016 3. www.rba.gov.au#32Capitalisation as at 31 December 2015 St Barbara LIMITED A$M A$M Cash1 $100 Red Kite debt facility Senior Secured Notes (US$36m)² (US$180m) 1,3 $46 0.2x L+750 Jun-17 Year ended 31 Dec 2015 EBITDAX Interest Maturity Call Date Call Price| CFR: Rating Caa1(Stable) / B-(Stable) Caa1 / B- Lease liabilities Total Debt $244 0.9x 8.875% Apr-18 Callable 106.656 $3 0.0x $293 1.1x Caa1 / B- Net Debt $193 0.7x Shareholder's Equity $203 Capitalisation (Total Debt + Equity) $496 Debt Repayments (Actual and Contracted) Underlying EBITDA4 $266 Interest Expense $37 Capital Expenditure $36 A$58m actual voluntary A$101m actual voluntary repayments Red Kite anticipated to be fully repaid one year early (by 30 June 2016) A$244m US$ Notes A$46m Underlying EBITDA4 / Interest Expense 7.2x repayments Red Kite Fixed Charge Coverage Ratio5 6.2x Net Debt Capitalisation 39% FY15 FY16 FY17 FY18 Note: AUD:USD exchange rate as at 31 December 2015 was 0.7285 1. In February 2016, US$12M of senior secured notes repurchased at 2% discount using cash on balance sheet. 2. Net of $2.4m of capitalised transaction costs. Spread has LIBOR floor of 1.00%. 3. Net of $3.5m of capitalised transaction costs and $0.4m discount on notes. 32 Asia Investor Relations Roadshow/ March 2016 4. Non IFRS measure, refer slide in appendix 5. Non IFRS measure, Fixed Charge Coverage Ratio = (EBITDA - Capital Expenditures) / Interest expense.#33Exploration: Focus on near mine targets St Barbara Simberi Project Interests Tabar & Tatau Indonesia Papua New Guinea Port Moresby Darwin Townsville N.T. Western Australia Centenary Gwalia Qld. Leonora Kalgoorlie⚫ S.A. Pinjin Perth N.S.W. Adelaide Operations Exploration 017-001 SBM Drawn Aug 2015 33 / Asia Investor Relations Roadshow / March 2016 Vic. Melbourne St Barbara LIMITED Brisbane Sydney Exploration > A$15 million, approximately: > 70% Australia and > 30% Pacific > Gwalia Deep Drilling (WA) > Centenary (WA) > Pinjin (WA) Λ Simberi (PNG) + Banesa (PNG) Tas. Hobart#34Summary Strong profits of 2H FY15 continue, debt significantly reduced > Profitability maintained from record 2H FY15 St Barbara LIMITED > Continued strong operating results with underlying NPAT of $60 million > $15 million profit on sale of King of the Hills & Kailis > Continued accelerated debt repayments > A$77 million debt repayment in first half > Total US$121 million in debt repayments in 9 months to Feb 2016 > Evaluating growth options > Gwalia deep drilling and materials handling studies continue Simberi Sulphide PFS and strategic review > Targeted exploration continues > WA: Centenary, Pinjin > PNG: Simberi, Big Tabar 34 / Asia Investor Relations Roadshow/ March 2016#35Appendices St Barbara 35 / Asia Investor Relations Roadshow / March 2016 Jan 2016: Shadows silhouetted viewing an ore pass, Gwalia mine. LIMITED#36St Barbara share price Exceeded A$1 billion market cap on 4 March 2016 ASX:SBM (with selected ASX announcements) $3.00 $2.50 Q1 Production Update, inc: St Barbara LIMITED Simberi 29.5 koz, A$12M cash flow³ SBM to rejoin ASX 200 M'cap A$1B $2.00 Q2 Production Update, inc: Simberi cash flow positive in Dec $1.50 Q3 Production Update, inc: Simberi 22.5 koz, A$10 M cash flow³ $1.00 Repay US$20M debt Sale of King of the Hills $0.50 SBM to rejoin ASX 300 US$54M debt repurchased Sale of Gold Ridge $0.00 30 Sep 14 31 Dec 14 31 Mar 15 30 Jun 15 30 Sep 15 31 Dec 15 31 Mar 16 'Gold Miner of the Year'¹. Top performing stock in the ASX 300 in 2015² Source: IRESS to 17 March 2016 1. Australian Gold Mining Journal, January 2016 36 Asia Investor Relations Roadshow / March 2016 2. http://www.asx.com.au/education/investor-update-newsletter/201601-making-money-this-year.htm 3. Cash contribution per cash movement table in relevant Quarterly Reports#37EV/Production (A$/oz) St Barbara vs other gold companies, ASX & globally Free cash flow, Enterprise Value, Production St Barbara LIMITED 7,000 6,000 5,000 4,000 3,000 2,000 Bubble size = production rate (kozpa) DGC CN RRS LN GG US NEM US BTG US KGC US PPP US ANG SJ SGL SJ AUY US GFI SJ IAG US 1,000 HAR SJ CG CN RSG TRY BDR TGZ SLR KCN MML ΜΟΥ PRU 0 -100 0 100 200 • ASX Gold 37 / Asia Investor Relations Roadshow / March 2016 AEM US NCM ABX US NGD US EGO US AQG RRL EVN NST SBM SAR DRM 300 400 500 Global Gold Normalised FCF margin (A$/oz) Source: Argonaut Metals and Mining, 6 January 2016 (with permission)#38Consolidated Production, Costs, Guidance Summary Production Summary Consolidated Q3 Mar FY15 Q4 Jun FY15 Year FY15 Q1 Sep FY16 Q2 Dec FY16 Production Gwalia King of the Hills Simberi Consolidated Guidance FY163 St Barbara LIMITED 6 65 66 OZ 76,954 57,208 248,142 72,388 63,533 OZ 11,836 15,014 49,677 9,112 _5 22,498 27,137 79,568 29,539 28,379 100 - 245 260 koz (prev 230 to 250 koz) 9 koz4 110 koz (prev 90 to 110 koz) OZ 111,288 99,359 377,387 111,039 91,912 354-379 koz (prev 329 to 369 koz) Mined Grade Reserve grade² Gwalia g/t 9.7 8.6 8.9 9.7 7.9 King of the Hills g/t 4.1 4.5 4.2 3.9 _5 Simberi g/t 1.38 1.28 1.23 1.22 1.22 9.4 n/a 1.3 Total Cash Operating Costs[1] Gwalia $/oz 532 729 642 553 665 n/a King of the Hills $/oz 1,177 1,095 1,112 893 n/a Simberi $/oz 1,193 1,034 1,336 1,119 1,098 n/a Consolidated $/oz 734 868 850 731 799 All-In Sustaining Cost[1] Gwalia $/oz 645 860 841 692 846 840 900 (prev 875 to 940) King of the Hills $/oz 812 1,106 1,103 964 Simberi $/oz 1,310 1,149 1,464 1,252 Consolidated $/oz 798 979 1,007 863 1,319 992 1,350 - 1,430 990-1,060 (prev 1,275 1,400) (prev 995 to 1,070) Capital Expenditure Gwalia $M King of the Hills $M Simberi $M Consolidated $M 30-35 10-12 38-49 (prev 8-12) 1. 2. 3. 4. 5. 38 / Asia Investor Relations Roadshow / March 2016 Non-IFRS measure, refer relevant slide in Appendix Ore Reserve grade at 30 June 2015, refer Ore Reserve and Mineral Resources Statement released 25 August 2015 FY16 guidance issued in the June 2015 Quarterly Report, and revised on 8 Jan 2016 and in this report. Stockpiled as at 30 June 2015. King of the Hills ceased mining in April 2015 and ceased processing in September 2015. It was sold in October 2015 (refer ASX announcement 16 October 2015)#39St Barbara Emergency Response Teams: International success St Barbara WA: Winners in 3 categories and overall winners, CME (WA) Eastern Regional Council 2015 Underground Mine Emergency Response Competition, held at Kanowna Belle WA, November 2015 10 18 10 10 10 10 10 10 10 1O NO SO 10 10 10 13 0 39 Asia Investor Relations Roadshow / March 2016 MU C 2014 St Barbara LIMITED St Barbara PNG: Winners in 4 categories including Most improved and Multi-Casualty, PNG National Mines Rescue Challenge held over the 4 days in Madang, Papua New Guinea, August 2015#40Key changes to underlying profit/(loss)¹ 2H FY15 to 1H FY16 Underlying Profit¹ After Tax Reconciliation (H1 FY16 v H2FY15) St Barbara LIMITED 43 9 4 -15 7 60 60 8 2H FY15 Gross Profit - Aust Ops Gross Profit - Simberi Ops D&A Net Financing Costs Income tax expense Corporate + Other 1H FY16 A$ Million 40 / Asia Investor Relations Roadshow / March 2016 1. Non-IFRS measure, refer appendix#41Significant items¹ in net profit after tax Significant items in net profit after tax 77 -14 St Barbara LIMITED -2 -1 60 60 1H FY16 NPAT Profit on sale of KOTH & Kailis Foreign exchange Tax effect 1H FY16 Underlying NPAT 41 Asia Investor Relations Roadshow / March 2016 A$ Million 1. Non-IFRS measure, refer appendix#42Exploration: Gwalia Deep Drilling Program St Barbara LIMITED Gwalia Processing Plant Gwalia deep drill cores 42 / Asia Investor Relations Roadshow / March 2016 126110 Gwalia deep drilling by DDH1 at night Atlas Copco MT6020 Mining trucks HONIO BT#43Exploration: Gwalia Deep Drilling Program St Barbara LIMITED Cross Section Looking North Open Pit - 500mbs - 1,000mbs 500m Underground Development FY14 Diamond Drilling 1,500mbs - 1,800mbs 2015FY Diamond Drill Hole Planned Diamond Drill Hole 2014FY Diamond Drill Hole Historic Diamond Drill Hole Main Lode South West Branch 2,000mbs South Gwalia Series West Lode Development Stoping 017-020 Gwalia Drawn November 2015 43 Asia Investor Relations Roadshow / March 2016 FY15 Diamond Drilling Gwalia Shear Zone Extensions 300m ------? See Separate Enlargement surface#44Exploration: Gwalia Deep Drilling Program St Barbara LIMITED Long Section Looking West Recent Diamond Drill Hole Previous Diamond Drill Hole Intersection Recent Drilling Result Planned Target Main Lode South West Branch South Gwalia Series West Lode ✓ Development Stoping GWDD131 0.3m @ 6.9g/t (ML) 4.2m @ 3.0g/t (SWB) 2.7m @ 4.3g/t (SGS) 1.2m @ 15.8g/t (WL) GWDD17A 1.8m 2.2g/t (ML) 4.0m @ 2.7g/t (SWB) 2.2m @ 2.0g/t (SGS) Recent Diamond Drilling · Underground Development at 1,560mbs GWDD17B In Progress GWDD17 1.6m @ 6.2g/t (ML) 1.1m @ 1.6g/t (SWB) Open 6.5m @ 5.5g/t (SGS) 017-022 Gwalia Drawn January 2016 GWDD13J 1.8m @ 5.9g/t (ML) 2.6m @ 67.2g/t (SWB) 4.1m @ 5.7g/t (SGS) 1.1m @ 3.1g/t (WL) GWDD13K 1.4m @ 1.4g/t (ML) 3.5m @ 25.3g/t (SWB) 12.0m @ 3.0g/t (SGS) GWDD13L 0.6m @ 2.7g/t (ML) 250m 1,500mbs 1,800mbs 2,000mbs Lode Extensions 3.9m @ 0.9g/t (SWB) 2,200mbs 11.2m @ 5.6g/t (SGS) 1. 44 Asia Investor Relations Roadshow / March 2016 For full explanation and results refer to ASX release 21 January 2016 'Quarterly Report December 2015'#45Exploration: Future Gwalia - Drilling Plan Cross Section Looking North Underground Development 1,500mbs GWDD17B In Progress Recent Diamond Drilling St Barbara LIMITED Recent Diamond Drill Hole Previous Diamond Drill Hole Intersection Recent Drilling Result Main Lode South West Branch South Gwalia Series West Lode Development Stoping 250m - 1,800mbs - 2,000mbs 2,200mbs GWDD13J 1.8m @ 5.9g/t (ML) 2.6m @ 67.2g/t (SWB) 4.1m @ 5.7g/t (SGS) 1.1m @ 3.1g/t (WL) GWDD131 0.3m @ 6.9g/t (ML) 4.2m @ 3.0g/t (SWB) 2.7m @ 4.3g/t (SGS) 1.2m @ 15.8g/t (WL) GWDD13K 1.4m @ 1.4g/t (ML) 3.5m @ 25.3g/t (SWB) 12.0m @ 3.0g/t (SGS) 017-023 Gwalia Drawn January 2016 GWDD17A 1.8m @ 2.2g/t (ML) 4.0m @ 2.7g/t (SWB) 2.2m @ 2.0g/t (SGS) 300m Open GWDD17 1.6m @ 6.2g/t (ML) 1.1m @ 1.6g/t (SWB) 6.5m @ 5.5g/t (SGS) GWDD13L 0.6m @ 2.7g/t (ML) 3.9m @ 0.9g/t (SWB) 11.2m @ 5.6g/t (SGS) Gwalia Shear Zone Extensions 1. 45 Asia Investor Relations Roadshow / March 2016 For full explanation and results refer to ASX release 21 January 2016 'Quarterly Report December 2015'#46Exploration: Gwalia West Lode - Long Section West Lode Long Section Looking West 4,200mRL 4,000mRL 3,800mRL 3,600mRL 3,400mRL Drill Hole Intersection West Lode (Current) West Lode Extension Development Stoping Au gram/meter contours +40ggm 30-40ggm 20-30ggm 10-20ggm 017-024 Gwara Drawn January 2016 Open Underground Development 200m West Lode Extension St Barbara LIMITED 1,200mbs 1,400mbs 1,600mbs 1,800mbs West Lode > West Lode is one of the four major lode structures¹ identified within the Gwalia Mine Sequence, and is located approximately 80m to the west of South West Branch. > Drilling results² show encouraging grade and thickness: > studies underway to assess the options for exploiting the lode with a materials handling solution > expected to add to reserves. > Further drilling is planned to investigate extensions of the lode system below 1,800 metres below surface. 2,000mbs 1. Main Lode, South Gwalia Series, South West Branch, West Lode 46 Asia Investor Relations Roadshow / March 2016 2. For full explanation and results refer to ASX release 20 October 2015 'Quarterly Report September 2015'#47Exploration: Gwalia - Schematic Lode Plan View Gwalia Schematic Lode Plan ~1540mbs Basalt West Lode Length: 295m Width: 1-6m Grade: 1-10g/t Au Average Grade: 6g/t Au 9,200mE 9,400mE Mine Sequence | Shear Zone Hangingwall Lode Length: 20m Width: 2-3m Grade: 2-30 g/t Au Average Grade: 8g/t Au Main Lode Length: 400m Width: 2-3m Grade: 2-30g/t Au Average Grade: 10g/t Au 100m Local Grid West Lode 2 Length: 115m Width: 1-4m Grade: 1-10g/t Au Average Grade: 6g/t Au South Gwalia Series 2 Length: 160m Width: 8-13m Grade: 3-30g/t Au Average Grade: 5g/t Au South West Branch Length: 270m Width: 15 30m Grade: 5-30g/t Au Average Grade: 10g/t Au South West Branch 2 Length: 52m Width: 1-3m Grade: 1-13g/t Au Average Grade: 7g/t Au South Gwalia Series 1 Length: 241m Width: 5-7m Grade: 3-30g/t Au Average Grade: 5g/t Au 47 / Asia Investor Relations Roadshow / March 2016 St Barbara LIMITED 6,200mN 5,800mN Basalt 017-018 Gwalia Drawn October 2015#48Exploration: Centenary 6 854 800mN CNRD004 7m @ 5651ppm Ni Felsic Volcanics Ultramafic Undifferentiated Mafic Mafic Dolerite Dykes Sediments Granitoid 310 000mE Centenary Project Teutonic Bore Jaguar Centenary Tenements Proposed Drill Collar Recent Drill Collar Recent Drilling Result Proposed Ground EM Other Mines Goldfields Highway Major Road Track Bentley (+ Flying Spur) Goldfields Highway King of the Hills 325 000mE 017-001 Centenary Drawn January 2016 48 Asia Investor Relations Roadshow / March 2016 B St Barbara LIMITED Perth Western Australia Location ☐ 5km MGA Zone 51 6 829 800mN Centenary > In Q3 FY15 St Barbara conducted electromagnetic (EM) survey work on Centenary Project approximately 60 km north of Leonora. Four sites were drilled in Q4 FY15 with follow up drilling in Q1 and Q2 FY16 New drilling targeted an anomalous nickel geochemistry feature within weathered ultramafics not previously reported within E37-917, and generated results ¹ including: CNRD004: 7m @ 5,651ppm Ni from 58m A second phase of work is expected to commence during the March quarter of 2016. 1. For full explanation and results refer to ASX release 21 January 2016 'Quarterly Report December 2015'#496650000 6700000 Exploration: Pinjin, Leonora WA 450000 O Carosue Dam Mine Kumalpi Pinjo Road 2 20km GDA 1904 MGA Z51 Drawn Jan 2016 450000 Mount Cella Road Pinjin Road B St Barbara LIMITED 500000 Pinjin Project Western Australia, December Quarter 2015 Gold Mine Main Road Pinjin Tenement WESTERN AUSTRALIA Leonora ㅁ 6700000 S.A N.T 6650000 Pinjin > The Pinjin Project is located 150 km. northeast of Kalgoorlie, comprising a large tenement package of 1,358 km² > Two reconnaissance field visits were conducted during the quarter and necessary approvals obtained > A significant aircore drilling program (of up to 25,000 metres) targeting bedrock geochemical and geophysical targets is expected to commence late in the March 2016 quarter and continue through much of the June 2016 quarter¹ Perth, Kalgoorlie-Boulder 500000 1. For full explanation and results refer to ASX release 21 January 2016 'Quarterly Report December 2015' 49 Asia Investor Relations Roadshow / March 2016#50Exploration: Focus on near mine targets at Simberi SBM Target EL609 ML136 SBM Prospect Region Coastal Swamp Limestone Coronus Limestone Alkali Basaltic Volcanics Monzodiorite Andesite Simberi Island St Barbara LIMITED Simberi PNG Encouraging results ¹ from drilling at Pigibo North (13 holes for 780m) and Patan (8 holes for 500m) included: SOROWAR PATAN PIGIBO NORTH Pigibo North: MONUN PIGIBO WEST SIMBERI SDH342: PIGIPUT BOTLU SDH347: 22m @ 0.7 g/t Au from 3m 18m @ 1.0 g/t Au from Om PIGICOW SAMAT BEKOU Patan: SDH348: SDH349: 5m @ 14.1 g/t Au from 15m 14m @ 4.1 g/t Au from 22m SDH352: 16m @ 1.7 g/t Au from 21m Simberi N 2.5km Papua New Guinea 1. For full explanation and results refer to ASX release 21 January 2016 'Quarterly Report December 2015' 50/ Asia Investor Relations Roadshow / March 2016#51Exploration: Big Tabar Island 508 EL609 SBM Prospect Region Coastal Swamp Limestone Alkali Basaltic Volcanics Monzodiorite Andesite Big Tabar Island St Barbara LIMITED N 5km TUPINDA FOTOMBAR BANESA Further follow up trenching was conducted in the quarter on the Banesa Au-Cu porphyry prospect. Significant trench sampling results¹ include: TABTR168: 20m @ 1.1 g/t Au and 0.3% Cu, and 30m @ 1.2 g/t Au TABTR171: 30m @ 1.2 g/t Au and 0.1% Cu, inc. 20m @ 1.7 g/t Au TABTR174: 57m @ 1.4 g/t Au and 0.1% Cu, inc. 25m @ 1.8 g/t Au Simberi Papua New Guinea Big Tabar Island 51 Asia Investor Relations Roadshow / March 2016 > Ongoing discussions are being held with an interested party regarding a potential joint venture for exploring Banesa 1. For full explanation and results refer to ASX release 21 January 2016 'Quarterly Report December 2015'#52146,500mN 147,000mN 147.500mN Banesa Au-Cu Project - EL609 - historic drilling St Barbara LIMITED 48,000mE 48,500mE 49,000mE N 47,500mE TABAR ISLAND - EL609 BANESA Historical Drill Results BA001: 0 250 metres Tabar Island Grid (TIG05) BND2: 22m @ 0.3% Cu & 1.6 g/t Au from 54m 37m@ 0.6 g/t Au from 89m 25m @ 0.8 g/t Au from 226m incl 6m @ 1.2 g/t from 244m BND7: 18m @ 0.4% Cu & 1.4 g/t Au from 398m Drillhole significant intercept IP Lines Creeks - Interpreted Faults Biotite Diorite Equigranular Diorite BND6: 77m @ 0.9% Cu & 0.5 g/t Au from 62m BND5: 69m @ 1.1% Cu & 0.8 g/t Au from 50m St Barbara Hornblende Diorite Agglomerate Polymict Breccia Pyroxene Porphyry Undifferentiated Diorite 47,500mE 48,000mE 48,500mE Simberi Operations 49,000mE 147,500mN 147,000mN 146,500mN Banesa Porphyry Au-Cu Project: • - 1996 – Nord completed 1 diamond hole BA001 for 384m¹ 2009 Barrick Gold completed 6 diamond holes (BND2 to BND7) for 2,625m¹ Intersected Au-Cu alkaline porphyry style mineralisation Best Intersection: 69m at 0.8 g/t gold and 1.1% copper from 50m in BND52 2013 IP geophysics survey 2015 extensive (~9 line km) mapping, trenching and 3D modelling in preparation for potential drilling 52/ Asia Investor Relations Roadshow / March 2016 1. Allied Gold Limited Prospectus, 20 June 2011 2. Allied Gold Annual Report 2009#53Ore Reserves Summary as at 30 June 2015 St Barbara LIMITED Project Proved Probable Total Tonnes (k) Au koz Tonnes (k) Aug/t koz Tonnes (k) Au koz g/t g/t 2,100 9.1 614 3,190 9.6 980 5,290 9.4 1,594 Gwalia (WA) Tower Hill (WA) 2,572 3.7 306 2,572 3.7 306 Simberi Oxide (PNG) 3,800 1.5 178 15,317 1.3 660 19,117 1.3 818 Simberi Sulphide (PNG) 704 1.1 24 19,178 2.0 1,261 19,882 2.0 1,285 Total All Projects 6,604 3.8 816 21,079 17 3,207 46,861 2.7 4,003 Notes 1. Ore Reserves are based on a gold price of A$1,250/oz. 2. Mineral Resources are reported inclusive of Ore Reserves. 3. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding. 4. Details relating to each of the estimates are contained in the 2015 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore- Reserves-mineral-resources/ 5. The Competent Person, Mr John de Vries (prior to his resignation from St Barbara in July 2015) was entitled to participate in St Barbara's long term incentive plan, details of which are included in the 2014 Annual Report and Notice of 2014 Annual General Meeting released to the ASX on 17 October 2014. In 2012 and 2013 an increase in Ore Reserves was a performance measure. Full details are contained in the ASX release dated 25 August 2015 'Ore Reserves and Mineral Resources Statements 30 June 2015' available at www.stbarbara.com.au. 53 / Asia Investor Relations Roadshow / March 2016#54Mineral Resources Summary as at 30 June 2015 St Barbara LIMITED Project Measured Indicated Inferred Total Tonnes Au koz Tonnes Au koz Tonnes Au koz Tonnes (k) Au koz (k) g/t (k) g/t (k) g/t g/t Gwalia (WA) 4,781 7.2 1,112 6,112 9.3 1,833 2,036 5.5 359 12,929 7.9 3,304 King of the Hills 799 5.5 142 71 12.3 28 870 6.1 170 (WA)5 Tower Hill (WA) 4,604 3.9 574 489 3.3 51 5,093 3.8 625 Kailis (WA)5 997 3.1 99 30 5.1 5 1,027 3.1 104 Simberi Oxide 7,986 1.1 271 28,065 1.0 889 7,929 1.0 253 43,979 1.0 1,413 (PNG) Simberi Sulphide (PNG) 1,379 1.0 48 49,424 1.6 2,531 26,110 1.2 1,028 76,914 1.5 3,607 Total All Projects 14,146 3.1 1,430 90,002 2.1 6,069 36,665 1.5 1,724 140,812 2.0 9,223 Notes 1. Mineral Resources are reported inclusive of Ore Reserves 2. Cut-off Grades Leonora: Gwalia Deeps (2.5 g/t Au), King of The Hills (3.0 g/t Au), Tower Hill (2.5 g/t Au), Kailis (0.8 g/t Au), Simberi Oxide (0.4 g/t Au), Simberi Sulphide (0.6 g/t Au) 3. Data is rounded to thousands of tonnes and thousands of ounces. Discrepancies in totals may occur due to rounding. 4. Details relating to each of the estimates are contained in the 2015 Annual Mineral Resource and Ore Reserve Report at www.stbarbara.com.au/exploration/Ore-Reserves- mineral-resources/ 5. Sale of King of the Hills mine and Kailis resource announced 20 August 2015 and completed 15 October 2015, refer corresponding ASX announcements for details. Full details are contained in the ASX release dated 25 August 2015 'Ore Reserves and Mineral Resources Statements 30 June 2015' available at www.stbarbara.com.au. 54 Asia Investor Relations Roadshow / March 2016#55Ore Reserves & Mineral Resources at 30 June 2015 St Barbara LIMITED > Ore Reserves & Resources reduced via production depletion and sale of Gold Ridge Ore Reserves and % of Ore Reserves 1 Mineral Resources 1 13.16 FY 14 5.16 Mineral Resources 9.22 FY 15 4.02 Ore Reserves Moz 55 Asia Investor Relations Roadshow / March 2016 Leonora, WA 47% Simberi, PNG 53% 1. Refer ASX announcement released 25 August 2015 titled 'Ore Reserves and Mineral Resources Statements 30 June 2015'. Resources include 274 koz relating to King of the Hills & Kailis subject to sale agreement (refer ASX announcement 20 August 2015). Mineral Resources are reported inclusive of Ore Reserves.#56Major variances to Ore Reserves FY14 to FY15 1 St Barbara LIMITED koz 6,000 5,000 4,000 3,000 2,000 1,000 5,165 -673 -426 -60 -3 0 June 2014 Divestment of Gold Ridge Operation Depletion through mining and processing of stockpiles Design changes* King of the Hills Closure 4,003 June 2015 * Changes include Geology, Design and Factor Changes 1. 56 Asia Investor Relations Roadshow / March 2016 Refer ASX announcement released 25 August 2015 titled 'Ore Reserves and Mineral Resources Statements 30 June 2015'.#57koz Major variances to Mineral Resources FY14 to FY151 St Barbara LIMITED 14,000 12,000 13,161 10,000 -3,175 9,223 -426 -80 -4 -254 8,000 6,000 4,000 2,000 0 June 2014 Gold Ridge Divestment Depletion through Sterilisation of non- mining and processing of stockpiles recoverable resources at Gwalia and King of the Hills Revised geological models for Leonora Operations Revised geological models for Simberi Operations June 2015 [2] 1. Refer ASX announcement released 25 August 2015 titled 'Ore Reserves and Mineral Resources Statements 30 June 2015' 57 Asia Investor Relations Roadshow / March 2016 2. Note Resources include 274 koz relating to King of the Hills & Kailis subject to sale agreement (refer ASX announcement 20 August 2015)#58Strong institutional share register Not analysed 13% Non Institutional 16% 58/ Asia Investor Relations Roadshow / March 2016 Shareholding Structure Institutional 71% Australia 32% UK 16% USA 17% St Barbara LIMITED Other 5% Non Institutional 16% Not analysed 14% Analysis and geographic spread of shareholders as at 15 Feb 2016#59Significant Shareholders & wide broker coverage Significant Shareholders 1 Broker Research Coverage St Barbara LIMITED Hunter Hall 14% Argonaut Patrick Chang M&G Investment Mgt 12% Canaccord Reg Spencer Franklin Resources Inc 6% Deutsche Bank Brett Mckay Macquarie Ben Crowley Institutional Shareholders 2 71% Petra Capital David Cotterell Shares on issue 495M Approved Depositary Receipts (ADR) are trading in USA through BNY Mellon (ADR OTC Code 'STBMY') 59 Asia Investor Relations Roadshow / March 2016 1. As notified by substantial shareholders to 15 March 2016 2. As at 15 Feb 2016#60Board of Directors B St Barbara LIMITED Tim Netscher Chairman- Non Executive Appointed February 2014 Mr Netscher was the Managing Director of Gindalbie Metals Limited from 2011 to 2013, and is currently the Non-Executive Chairman of Deep Yellow Limited, and a Non-Executive Director of Aquila Resources Limited, Gold Road Resources Limited and Western Areas Limited. Bob Vassie Managing Director and CEO Appointed July 2014 Mr Vassie is a mining engineer with 30 years international mining industry experience, including as Managing Director and CEO of Inova Resources Limited (formerly Ivanhoe Australia Limited) and 18 years with Rio Tinto in a range of senior management roles. David Moroney Director- Non Executive Appointed March 2015 Mr Moroney is an independent non-executive director of Geraldton Fishermen's Co-operative Ltd, (the southern hemisphere's largest exporter of lobster) and chair of its Audit & Risk Management Committee, and an independent non-executive director of WA Super, Western Australia's largest public offer superannuation fund (and a member of the Compliance & Risk Management, and Investment Committees). Kerry Gleeson Director- Non Executive Appointed May 2015 Ms Gleeson has over 20 years extensive boardroom and senior management experience across Australia, UK and the US. She was a member of the Group Executive at Incitec Pivot Limited for 10 years until late 2013, including as Company Secretary and General Counsel. Ms Gleeson is currently a Non-Executive Director of ASX listed McAleese Limited, and a member of its Audit, Business Risk and Compliance Committee. She is a Fellow of the Australian Institute of Company Directors. 60 Asia Investor Relations Roadshow / March 2016#61Competent Persons Statement B St Barbara LIMITED Exploration Results The information in this presentation that relates to Exploration Results for Simberi and Pinjin is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Mustard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this presentation that relates to Exploration Results for Gwalia and the Leonora region is based on information compiled by Mr Robert Love, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Love is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Love consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Mineral Resource and Ore Reserve Estimates The information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the report titled 'Ore Reserves and Mineral Resources Statements 30 June 2015' released to the Australian Securities Exchange (ASX) on 25 August 2015 and available to view at www.stbarbara.com.au and for which Competent Persons' consents were obtained. Each Competent Person's consent remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 25 August 2015 and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcement. Competent Persons Dr Mustard and Mr John de Vries (prior to his resignation from St Barbara in July 2015) are entitled to participate in St Barbara's long term incentive plan, details of which are most recently included in the 2015 Annual Report and Notice of 2015 Annual General Meeting released to the ASX on 20 October 2015. In 2012 and 2013 increase in Ore Reserves was one of the performance measures under that plan. Full details are contained in the ASX release dated 25 August 2015 'Ore Reserves and Mineral Resources Statements 30 June 2015' available at www.stbarbara.com.au. 61 / Asia Investor Relations Roadshow / March 2016#62Non-IFRS Measures St Barbara LIMITED We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. Cash operating costs All-In Sustaining Cost EBIT EBITDA Return on equity Significant Items Underlying net profit/(loss) after tax > Calculated according to common mining industry practice using The Gold Institute (USA) Production Cost Standard (1999 revision). > All-In Sustaining Cost is based on Cash Operating Costs, and adds items relevant to sustaining production. It includes some, but not all, of the components identified in World Gold Council's Guidance Note on Non-GAAP Metrics - All-In Sustaining Costs and All-In Costs (June 2013). > EBIT is earnings before interest revenue, finance costs and income tax expense. It includes revenues and expenses associated with discontinued operations. > EBITDA is EBIT before depreciation and amortisation. It includes revenues and expenses associated with discontinued operations. > Net profit after tax divided by average shareholders' equity for the period. > Items included in IFRS Net Profit After Tax that the Board and Management consider may not be indicative of, or are unrelated to, core operating results (such as profit or loss on gold options, or the sale of tenement rights) > Refer 2016 Interim Financial Report (p4) for details, available at www.stbarbara.com.au > Net profit after tax excluding identified significant items and excluding discontinued operations > Refer 2016 Interim Financial Report (p4) for details, available at www.stbarbara.com.au 62 / Asia Investor Relations Roadshow / March 2016#63Investor Relations Enquiries St Barbara LIMITED Rowan Cole Company Secretary Garth Campbell-Cowan Chief Financial Officer T: +61 3 8660 1900 E: [email protected] 63 / Asia Investor Relations Roadshow / March 2016