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Presentation to Deutsche Bank Dbaccess Gold Corporate Day ASX Release / 19 September 2013 Presentation to Deutsche Bank dbAccess Gold Corporate Day Attached is a presentation being given today to the Deutsche Bank dbAccess Australia Gold Corporate Day in Sydney. Ross Kennedy Executive General Manager Corporate Services Company Secretary 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 ROSS KENNEDY, EGM CORPORATE SERVICES / 19 September 2013 dbAccess Australia Gold Corporate Day Disclaimer This presentation has been prepared by St Barbara Limited (“Company”). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. This presentation is not financial product or investment advice. It does not take into account the investment objectives, financial situation and 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 and sale of gold. Forward-looking statements include those containing such words as anticipate, estimates, forecasts, should, will, expects, plans or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company. 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 reserves and resources in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2012 Edition (“JORC Code”), which governs such disclosures by companies listed on the Australian Securities Exchange. Financial figures are in Australian dollars unless otherwise noted. Financial year is 1 July to 30 June. 2 / dbAccess Australia Gold Corporate Day / 19 September 2013 Outline ˃ St Barbara at a glance ˃ Diversified Gold Operations ˃ Gwalia & King of the Hills, WA ˃ Simberi, Papua New Guinea ˃ Gold Ridge, Solomon Islands ˃ Exploration ˃ FY 14 Guidance ˃ What distinguishes St Barbara ˃ Appendices 3 / dbAccess Australia Gold Corporate Day / 19 September 2013 St Barbara at a glance ˃ Australian based gold producer and explorer ˃ ASX Top 200 1 A$293 million market cap 1 ˃ Established gold operations Western Australia Papua New Guinea Solomon Islands ˃ Production FY13 365 koz FY14F Guidance 395 – 445 koz ˃ Balance sheet 2 Cash 3 A$129 million Debt 4 A$328 million Net gearing 5 25% ˃ Share capital 488M shares on issue 6 82% held by institutions 1. Source: IRESS, 13 Sep 2013 @ $0.60 4. Includes US notes and gold loan 4 / dbAccess Australia Gold Corporate Day / 19 September 2013 2. As at 30 June 2013 5. Non-IFRS measure, refer slide 26 3. Includes $12M restricted cash 6. As at 15 August 2013 Operations: lifting productivity, reducing costs 5 / dbAccess Australia Gold Corporate Day / 19 September 2013 Established operations, increasing gold production Reserves 5.2 Moz 1 Resources 13.2 Moz 1 Simberi PNG Simberi • Low strip open pit mine S.I. Leonora • FY14F production: Gold Ridge 85 - 100 koz • High grade underground • Near mine targets for Gwalia mine exploration • Gwalia FY14F production: • Sulphide expansion 180 - 195 koz potential • Ore body open at depth Australia • King of the Hills FY14F production: 55-60 koz Leonora Gold Ridge • Low strip open pit mine 500koz Gold Production • Processing plant upgraded 400 • FY14F production: 75 - 90 koz 300 • Near mine targets for exploration 200 100 0 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14F Blank Actual Guidance Range 1. Refer ASX announcement released 22 August 2013 titled ‘Ore Reserves and Mineral 6 / dbAccess Australia Gold Corporate Day / 19 September 2013 Resources Statements 30 June 2013’ Gwalia Mine, Leonora, WA – cornerstone asset FY14 guidance ˃ production 180 – 195 koz ˃ capex A$45 – 50M ˃ cash operating cost1 A$720 – 750/oz High average grade underpins margins Reliable annual production 8.8 8.2 200 175 6.3 150 5.7 125 100 75 50 25 0 FY10 FY11 FY12 FY13 FY 10 FY 11 FY 12 FY 13 FY 14F g/t Au Blank Actual Guidance Range koz 1. Non-IFRS measure, refer slide 26 7 / dbAccess Australia Gold Corporate Day / 19 September 2013 Simberi Operations, Papua New Guinea Expected increase in FY14 ˃ FY14 guidance includes benefit production from plant expansion of processing capacity 120 increased from 2.0 Mtpa to 100 3.5 Mtpa 80 ˃ Oxide plant expansion 60 complete, with commissioning 40 pending final approval 20 ˃ Enhancement of mining fleet 0 underway FY 11 FY 12 FY 13 FY 14F ˃ Cash operating costs1 expected Blank Allied St Barbara Guidance Range to fall below A$1,000/oz during koz FY14 as gold production Source: Allied Gold Mining Ltd published reports for production increases prior to St Barbara acquisition on 7 Sep 2012. 1. Non-IFRS measure, refer slide 26 8 / dbAccess Australia Gold Corporate Day / 19 September 2013 Gold Ridge, Solomon Islands Expected increase in FY14 production from improved operating performance ˃ FY14 guidance includes 100 improvements to plant front end 80 designed to lift processing 60 throughput volumes ˃ Mill recoveries improving from 40 better blending 20 ˃ Gold recovery c. 70% as currently 0 configured FY 11 FY 12 FY 13 FY 14F ˃ Metallurgical test work underway Blank Allied St Barbara Guidance Range to increase recoveries koz Source: Allied Gold Mining Ltd published reports for production prior to St Barbara acquisition on 7 Sep 2012. 9 / dbAccess Australia Gold Corporate Day / 19 September 2013 Exploration 10 / dbAccess Australia Gold Corporate Day / 19 September 2013 Exploration: FY14 focus on adding to near mine reserves Exploration spend FY14F $20-25M ≈ 40% in Australia Tabar Island Group ≈ 60% in Pacific Operations (inc. Simberi) Simberi > Active drilling programs PNG > Ore bodies open S.I. > Near mine targets for exploration Gold Ridge > Sulphide potential Tabar Island Group Australia > Exploration potential > Multiple drilling targets on Big Tabar and Tatau Islands Leonora Leonora > Gwalia open at depth > King of the Hills remains open along strike Gold Ridge > Attractive regional > Ore bodies open targets > Near mine targets for exploration > Regional exploration 11 / dbAccess Australia Gold Corporate Day / 19 September 2013 Company is well capitalised Senior Secured Note issue for US$250 million completed March 2013: ˃ 5 year term (no amortisation) ˃ Coupon 8.875% p.a. ˃ Terms provide flexibility ˃ Syndicated bank debt facilities repaid (Red Kite gold loan remains) At 30 June 2013: ˃ A$129 million cash 1 ˃ A$328 million interest bearing liabilities – inc. notes A$262 million + Red Kite gold loan A$54 million ˃ Net gearing (inc. gold loan) approx. 25% 2 ˃ King of the Hills put and call options closed out for cash proceeds of $8.5 million in July 2013 ˃ No hedging in place, aside from Red Kite gold loan 1. Includes $12M restricted cash 12 / dbAccess Australia Gold Corporate Day / 19 September 2013 2. Non-IFRS measure, refer slide 26 FY14 Production Guidance ˃ Consolidated FY14 gold production guidance (details in appendix): ˃ 395,000 to 445,000 ounces ˃ Consolidated cash operating cost1 of between A$880-A$940 per ounce ˃ Gwalia
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