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Invincible Pit, St Ives, Western Australia Investor reference pack REINVESTING FOR THE FUTURE September 2017 Forward looking statements Certain statements in this document constitute forward looking statements within the meaning of


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SLIDE 1

Investor reference pack

REINVESTING FOR THE FUTURE

September 2017

Invincible Pit, St Ives, Western Australia

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2

Forward looking statements

Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include among others those relating to the Gruyere Project; the Damang Reinvestment Plan; the Salares Norte Exploration Target Statement; the Far Southeast Exploration Target Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and production costs; levels of expected production; expected All-in Sustaining costs and All-in costs; Gold Fields’ growth pipeline; levels and expected benefits of current and planned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational health risks experienced by Gold Fields’ employees. These forward looking statements speak only as of the date of this document. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the

  • ccurrence of unanticipated events.

Gold Fields, Reinvesting for the future, September 2017

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SLIDE 3

3

Member of the ICMM

Catalyst for change

  • ICMM is a CEO-led international organisation that advocates for a responsible and sustainable

mining and metals sector.

Sustainable development framework

  • 10 sustainability principles and 7 position statements - ethical business practices, environmental

stewardship, contribution to economic/social well-being, health and safety, and the responsible supply and use of materials

  • Transparent reporting on performance and independent assurance

Enhancing mining’s contribution to society

  • ICMM works with members to make lasting social, environmental and economic progress that

supports global sustainable development goals.

Committed to responsible and sustainable mining

Gold Fields, Reinvesting for the future, September 2017

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SLIDE 4

4

Regional overview

Gold Fields, Reinvesting for the future, September 2017

FY17 guidance: Production of 2.10-2.15Moz at AIC of US$1,170-1,190/oz

Group: H1 2017

Attributable production 1,047koz AIC US$1,103/oz Mine net cash flow* US$105m

Group: Q2 2017

Attributable production 550koz AIC US$1,092/oz Mine net cash flow* US$70m

Demarks growth projects in Gold Field’s portfolio

Americas Region

  • Att. production: 136koz (12% of group)

All in costs: US$677/eq oz Net cash flow: US$27m inflow

West Africa Region

  • Att. production: 323koz (32% of group)

All in costs: US$1,138/oz Net cash flow*: US$74m inflow

South Africa Region

  • Att. production: 119koz (13% of group)

All in costs: US$1,557/oz Net cash flow: US$48m outflow

Australia Region

  • Att. production: 469koz (43% of group)

All in costs: US$924/oz Net cash flow: US$51m inflow (excl. Gruyere)

Salares Norte results of feasibility study expected in H1 2018. Mineral resources as at 31 December 2016 of 4.4Moz gold equivalent Damang Reinvestment tracking ahead of

  • plan. Steady state production will increase

by c.100koz per annum

* Excluding Damang project capex

Gruyere on track for first production in early 2019. The mine will add attributable annual production of 135koz at steady state

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SLIDE 5

5

Need to invest to sustain cash generation

Excluding project capex and working capital requirements of US$39m in Q1 and US$102m in Q2, net cash flow was US$4m and US$35m, respectively

US$141m project capital spent in H1 2017

  • 45
  • 229

4 38 54 65 63 54

  • 29

30 75 47 26 34 152 82

  • 35
  • 67

1,625 1,372 1,315 1,265 1,283 1,275 1,265 1,179 1,198 1,174 1,103 1,092 1,182 1,242 1,329 1,198 1,216 1,247

  • 2,000
  • 1,500
  • 1,000
  • 500

500 1,000 1,500 2,000

  • 250
  • 200
  • 150
  • 100
  • 50

50 100 150 200 250 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017

US$/oz US$ million Net cash flow Gold price

Net cash flow = Cash flow from operating activities (which is net of tax) less net capital expenditure, environmental payments and financing costs

2014

Gold: US$1,249/oz Net cash: US$236m

2013

Gold: US$1,386/oz Net cash: -US$232m

Gold Fields, Reinvesting for the future, September 2017 2015

Gold: US$1,140/oz Net cash: US$123m

2016

Gold: US$1,241/oz Net cash: US$294m

H1 2017

Gold: US$1,232/oz Net cash: -US$102m

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6

Hedging oil, A$ gold price and copper price

Gold Fields, Reinvesting for the future, September 2017

Short term, tactical hedging to protect the balance sheet

  • In line with Group policy to protect cash flow during periods of significant expenditure, Gold Fields has

selectively hedged the oil price and Australian dollar gold price

  • Oil hedge comprises:

̵ Australia: 78m litres at an equivalent Brent Crude swap price of US$49.92/bbl for the period June 2017 to December 2019 ̵ Ghana: 126m litres at an equivalent Brent Crude swap price of US$49.80/bbl for the period June 2017 to December 2019 ̵ Volumes hedged represent 50% of annualised fuel consumption for the two regions

  • Australian dollar gold price hedge comprises:

̵ 165koz with a floor price of A$1,696/oz and a cap of A$1,754/oz for the period July 2017 to December 2017 ̵ 130koz at an average forward price of A$1,720 for the period July 2017 to December 2017 ̵ Gold volumes hedged represent c.70% of expected production from the Australia region for the second half of 2017

  • Copper zero cost collar in place:

̵ 8,250t hedged for the period August 2017 to December 2017 (c.70% of production) ̵ Average floor level US$5,867/t, average cap level US$6,300/t

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7

Comfortable balance sheet, with flexibility

  • Net debt of US$1,365m at 30 June 2017
  • Net debt to EBITDA of 1.12x at end-June 2017

from 0.95x at end-2016

  • First material debt maturity in June 2019

(previously November 2017)

  • Unutilised facilities of US$1.2bn and R2.1bn
  • A$500m revolving credit facility to fund Gruyere

entered into in June 2017, maturing in June 2020

Net debt to increase further in H2 2017

0.0 0.5 1.0 1.5 2.0 500 1,000 1,500 2,000 FY 2013 H1 2014 FY 2014 H1 2015 FY 2015 H1 2016 FY 2016 H1 2017

US$m Net debt (US$m) and Net debt/EBITDA

Net debt Net debt/EBITDA

Gold Fields, Reinvesting for the future, September 2017

500 1,000 1,500 2,000 2,500 3,000 3,500 US$ facilities Rand facilities Total facilities

US$m Debt facilities

Utilised Unutilised 100 200 300 400 500 600 700 800 900 Dec-17 Dec-18 Dec-19 Dec-20

US$m Maturity schedule

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SLIDE 8

Investing for the future

Damang pit, Ghana Salares Norte, Chile Gruyere, Western Australia South Deep, South Africa

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SLIDE 9

9

  • 200

400 600 800 1 000 1 200

  • 500

1 000 1 500 2 000 2 500 2018 2019 2020 2021 2022 US$/oz koz Production and AIC (2017 money terms) Australia Ghana South Africa Americas AIC

Securing the longer term profile

Gold Fields, Reinvesting for the future, September 2017

Upgrading the quality of the portfolio

  • Investment initiatives underway which enable Gold Fields to maintain the current production profile for

the next 8 to 10 years and upgrade the quality of the portfolio through lowering AIC: ̵ Damang Reinvestment ̵ Gruyere JV ̵ South Deep Rebase ̵ Brownfields exploration in Australia

  • Projects add quality growth to the production profile – benefits of the investments in Damang, Gruyere

and South Deep come through from 2019 onwards

  • AIC decreases significantly over the next five years to below US$900/oz

Prod 2 137 2 324 2 339 2 475 2 393 AIC 1 143 1 030 965 883 865 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2018 2019 2020 2021 2022 Annual Production by Resource/Reserve Reserve Inferred Endowment

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10

Profiles by mine

Gold Fields, Reinvesting for the future, September 2017

Upgrading the quality of the portfolio

  • 200

400 600 800 1,000 1,200 1,400

  • 200

400 600 800 1,000 1,200 2018 2019 2020 2021 2022

US$/oz koz Production and region AIC (2017 money terms)

St Ives Agnew Granny Smith Gruyere AIC

  • 200

400 600 800 1,000 1,200 1,400 1,600

  • 100

200 300 400 500 600 2018 2019 2020 2021 2022

US$/oz koz Production and AIC (2017 money terms)

South Deep AIC

  • 100

200 300 400 500 600 700 800

  • 50

100 150 200 250 300 350 2018 2019 2020 2021 2022

US$/oz koz Production and AIC (2017 money terms)

Cerro Corona AIC

  • 200

400 600 800 1,000 1,200 1,400

  • 100

200 300 400 500 600 700 800 900 1,000 2018 2019 2020 2021 2022

US$/oz koz Managed production and region AIC (2017 money terms)

Tarkwa Damang AIC

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11

Progress on Gruyere

  • Approval for the Project Management Plan, Mining Proposal and Mine Closure Plan – Achieved
  • Construction of 648 Room accommodation village & facilities – Completed July 2017
  • EPC, bulk earthworks, SAG mill supply and primary crusher supply contracts – Awarded
  • SAG & Ball Mill supply contracts – Awarded
  • Clearing and top soil stripping of the process plant area and tailings storage facility – Completed
  • New Airstrip clearing & excavation – Complete
  • Detailed engineering and design on the process plant – Commenced
  • Construction of the Anne Beadell borefield for plant construction and potable water – Completed
  • Power supply contract for gas pipeline and gas generation – Executed

Gruyere is on track for first production early 2019

Gold Fields, Reinvesting for the future, September 2017

Process plant Gruyere village

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12

Progress on Gruyere

Gruyere is on track for first production early 2019

Gold Fields, Reinvesting for the future, September 2017

Main Access Road Airstrip and Airport Terminal Building Processing Plant and Tailings Storage Facility

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13

Update on the Damang reinvestment project

Damang reinvestment has got off to a good start

Gold Fields, Reinvesting for the future, September 2017

  • The Damang reinvestment project commenced on 23 December 2016 with the two major contractors operating in

the Damang complex and satellite pit areas

  • Good progress made to date:

̵ Total tonnes mined in H1 2017 were 18.9Mt vs. plan of 15.2Mt ̵ Total tonnes mined in 2017 are expected to be 41Mt vs. the project schedule of 33Mt, with the key focus on capital waste stripping ̵ Gold produced in H1 2017 was 77koz; AIC of US$1,702/oz; Project capex of US$53m ̵ Construction of the Far East Tailings Storage Facility (FETSF) commenced during Q1 2017 and is on plan

  • The good momentum continued in July, with tonnes mined, production and costs all better than planned

Mined but not planned Damang Complex Planned but not mined Planned and mined

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14

Update on South Deep

Gold Fields, Reinvesting for the future, September 2017

Good recovery after slow Q1 2017

  • Slow start to the Rebase Plan in Q1 2017

̵ Two fatalities and three falls of ground ̵ Access to high grade areas and haulage infrastructure was restricted

  • Good recovery in Q2 2017

̵ Tonnes mined: 414kt in Q2 2017 vs. 365kt in Q1 2017 (13% increase) ̵ Average reef grade: 5.73g/t in Q2 2017 vs. 5.43 in Q1 2017 (6% increase) ̵ Production: 2,286kg (74koz) in Q2 2017 vs. 1,424kg (46koz) in Q1 2017 (61% increase), with the recovery continuing in the July month during which 1,008kg (32koz) was produced ̵ Destress: 11,732m2 in Q2 2017 vs. 4,402m2 in Q1 2017 (167% increase) ̵ Development: 1,471m in Q2 2017 vs. 1,383m in Q1 2017 (6% increase)

  • FY 2017 guidance maintained:

̵ 9,800kg (315koz) ̵ AIC R585,000/kg (US$1,290/oz)

  • Despite the slow start, the integrity of the rebase plan is still intact and largely on track. We believe there

is no knock-on impact into future years

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15

Update on leading indicators

Integrity of Rebase Plan intact

Gold Fields, Reinvesting for the future, September 2017

  • 500

1,000 1,500 2,000 2,500 3,000 2014 2015 2016 H1 2017 m2

Destress - monthly average

Low Profile High Profile 69% 20%

  • 100

200 300 400 500 600 700

2014 2015 2016 H1 2017

metres

Development - monthly average

Development Linear (Development)

  • 10 000

20 000 30 000 40 000 50 000 60 000 70 000 80 000 2014 2015 2016 H1 2017 tonnes

Longhole stoping - monthly average

LHS Linear (LHS)

  • 5 000

10 000 15 000 20 000 25 000 30 000 35 000 2014 2015 2016 H1 2017 m3

Backfill placed - monthly average

Backfill Linear (Backfill )

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16

Salares Norte moving up the value curve

Gold Fields, Reinvesting for the future, September 2017

Results of FS expected in H1 2018

  • 100% Gold Fields owned gold-silver deposit in the Atacama region of northern Chile
  • Mineralisation is contained in a high-sulphidation epithermal system, offering high-grade oxides
  • Mineral resources as at 31 December 2016 of 4.4Moz gold equivalent (25.6Mt at 4.6g/t Au and

53.1g/t Ag) – 52% in the Indicated category

High-grade gold High-grade silver Low-grade Agua Amarga Brecha Principal

OPEN

Scale: 1cm:100m

  • Milestones achieved:

̵ Land easement secured for 30 years ̵ Water rights obtained on 29 December 2016 with the DGA granting Gold Fields access to 114 litres/second (more than double the requirements of the project) ̵ Brecha Principal and Agua Amarga merged into one study

  • Results of the feasibility study are

expected in the first half of 2018 – likely to be open pit

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SLIDE 17

Exploration update

Gruyere, Western Australia South Deep, South Africa

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18

Wallaby – A World Class Deposit

Underpinning growth at Granny Smith –

Key Observations:

  • Resources 6.5Moz (24% increase on 2015)
  • Reserves 1.69Moz (29% increase on 2015)
  • Open at depth
  • Shifting focus to reserve conversion in 2017-2018
  • Zone 110-120
  • 500m x 1,000m defined so far
  • 250m x 200m high grade extension confirmed
  • Open to the south-west for at least 450 metres

Granny Smith – Resource & Reserve growth

Wallaby Deposit

View West

500m

Gold Fields, Reinvesting for the future, September 2017

Zone 110-120

Zone 120 Main Lens

WB3971UD 4.7m @ 11.26g/t WB3972UD 14.2m @ 6.34g/t

WB3907UD 0.95m @ 8.32g/t

WB3931UD 4.7m @ 6.1g/t 3.4m @ 5.2g/t WB3959UD 3.7m @ 10.18g/t

200m DH Intersections WB4013UD 14.7m @ 9.44g/t

Zone 120 Zone 110

WB3994UD 7.2m @ 15.74g/t

WB3767UD 29.25m @ 6.90g/t WB3691AUD 15.41m @ 14.27g/t

WB3686UD 12.75m @ 13.04g/t WB3694UD 13.06m @ 8.26g/t

Green = initial resource area Yellow = Zone 110 resource Blue = Zone 120 resource

Note: selected assay results reported

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19

Granny Smith – Resource & Reserve growth

Gold Fields, Reinvesting for the future, September 2017

Wallaby Zone 135 – Continues to deliver quality resources & future growth Resource growth to 6Moz

Wallaby Deposit

View West

Key Observations:

  • Typical Wallaby-style mineralisation continues to be

intersected

  • Mineralisation open in all directions
  • Early geotech investigations & modelling underway
  • Mineralisation identified to 1,900m from surface (potential

Z150 location) Target Description: Infill Z135 to 100x100m

Zone 135 Outline WBD044UDW2

3.83m @ 25.95g/t 4.43m @ 5.37g/t 3.72m @ 21.02g/t

100m

Intrusive Zone 135

WB3688UDW2 Pending Assay

WB3679UDW2 12.75m @ 18.12g/t WB3481UDW1 5.24m @ 4.54g/t

WB3801UDW1 Pending Assay

500m

WBD039UDW1 7.16m @ 16.06g/t

WBD044UDW1 11.8m @ 5.26g/t 4.83m @ 5.21g/t

WB3679UDW1 18.7m @ 8.73g/t

WBD046UDW4 6.64m @ 3.98g/t WB3688UDW1 Pending Assay

Continues to deliver quality resources and future reserve growth

Z150? Note: selected assay results reported

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20

Granny Smith – Emerging projects

Northern Fleet (Lake Carey area)

Lake Carey East Alabama Raw Prawn Raw PrawnSouth Lake Carey South Little Wallaby Dallas West Dallas South Scamp

Northern Fleet Overview

Gold Fields, Reinvesting for the future, September 2017

  • 7.5km of anomalous gold zone
  • Full field Aircore program continues
  • On-going on-lake drilling programs in 2017

Alabama Dallas S Raw Prawn S Raw Prawn N Dallas

Blurry BIF

32 m at 1.1 g/t 8m at 4.28 g/t 14m at 0.65 g/t 37.63m @ 1.15 g/t 7.33m @ 4.40 g/t 4m @ 6.10 g/t 30m @ 1.69 g/t

  • inc. 2m @ 13.3 g/t

26m @ 2.01 g/t 7m @ 2.6 g/t

Max Gold

Note: selected assay results reported

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21

Granny Smith – Blurry BIF emerging Project

Target Description: Contact between banded iron formation and intrusive porphyry which is coincident with multiple highly anomalous gold intersections

Potential: >1 Moz

# of Holes Drilled: 6 (6/11) Metres: 2768 (2768/4500) Assays: 1 (1/11)

Gold Fields, Reinvesting for the future, September 2017 A A’

Blurry BIF Target Area

Results:

  • LCDD0055: 5.26 @ 20.4 g/t from 243m

Key Observations:

  • Gold rich veins seen in LCDD0055 hosted by porphyry
  • Conglomerate package on western side of target area
  • Altered banded iron formation and porphyritic intrusive

Recommendations:

  • Drill follow up holes along to LCDD0055
  • Update geological model

LCNAC1438 Planned LCDD0055 BIF Sediments (undifferentiated)

Alabama A A’

LCNAC1427 (AC) 32 m at 1.10 g/t (94 m) LCNAC1438 (AC) 15m at 0.58 g/t from 136m

LCDD0056 (DD) VG at 140m Results Pending LCNAC1417 (AC) 8m at 4.28 g/t from 44m 14m at 0.65 g/t from 64m LCDD0055 (DD) 5.26m @ 20.4 g/t (243m) LCDD0055 (DD) 5.26m @ 20.4 g/t (243m)

Planned

Note: selected assay results reported

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SLIDE 22

22

St Ives – Resource & Reserve growth

Invincible Complex - Continues To Grow

Underpinning growth at St Ives

Key Observations:

  • Economic mineralisation intersected over 1,400m strike and

800m depth

  • Open up and down plunge
  • Strong geological continuity between holes
  • Open pit nearing completion
  • Underground portal established

Invincible Deeps

  • 11.3m at 6.55g/t from 853.7m (LD14682W5)
  • 10.9m at 5.40g/t from 819.8m (LD14682W4)
  • 9.6m at 5.89g/t from 855.0m (LD14682W9)
  • 12.5m at 4.23g/t from 881.4m (LD14682W9)
  • 11.1m at 3.45g/t from 897.0m (LD14682W11)

Invincible Mids

  • 29.0m at 2.0 g/t from 459.0m (LD14721)

Invincible South

  • 20.4m at 5.62g/t Au from 414.6m (LD14827)
  • 14.0m at 1.36g/t Au from 439.0m (LD14828)
  • 13.0m at 2.14g/t Au from 422.0m (LD14828)
  • 8.6m at 9.08g/t Au from 421.3m (LD14830)
  • 6.5m at 8.21g/t Au from 392.7m (LD14831A)
  • 5.8m at 2.25g/t Au from 384.0m (LD14831A)
  • 4.6m at 2.61g/t Au from 404.2m (LD14830)

Invincible Deeps Invincible Mids

Long Section of Invincible overlying underground mine design 800m

600m Invincible South Invincible South Invincible Open Pit

Gold Fields, Reinvesting for the future, September 2017

Mill

Note: selected assay results reported

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SLIDE 23

23

Invincibl e Mine Victor y Arg

  • Reven

ge Juncti

  • n

Mill “Greater” Invincible

  • Resource growth to 1.427Moz

since discovery

  • Open Pit mining continues circa

mid-2019

  • UG mine development

commenced July 2017

  • Future mine expansions at

Invincible mid & Deeps

  • Invincible South – Feasibility in

2018

  • Further “shoots” emerging

Speedway Trend

  • 35km structural trend
  • Full field aircore program

commenced

  • Future “blue sky” targets expected

to emerge

Gold Fields, Reinvesting for the future, September 2017

St Ives – “Greater” Invincible & Speedway Trend

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SLIDE 24

24

St Ives – Palaeochannel Project

Gold Fields, Reinvesting for the future, September 2017

Potential 5Moz; 44km drilled of 255km planned Advanced Scoping Study

Mining Several semi-continuous mining methods are being investigated. Processing Ongoing options study for plant upgrade and modifications. Geotechnical Geotechnical drill holes for pit design completed at Argo, Neptune & Pistol club. Geology Model for advanced scoping study completed. Environmental Ongoing assessment for approval. Power & Infrastructure To be assessed following mining and processing studies.

Drilling Completed Since Q2 2016

Aircore Holes Metres 1,200 112,000

West Kambalda Lefroy Mill

Argo Neptune Invincible Revenge Leviathan

slide-25
SLIDE 25

25

Waroonga North underground – Underpinning Growth

Key Observations:

  • Multiple mineralised quartz zone intersected
  • Resource conversion in parallel to exploration
  • Encouraging results incl.
  • WNGC780155: 1.5m @ 16.3g/t
  • WNGC780159: 2.2m @ 20.3g/t
  • WNGC780161: 2.9m @ 26.5g/t
  • WNGC78150: 0.8m @ 38.1g/t
  • WNGC780124: 3.3m @ 115.1g/t

.

Underpinning growth at Agnew

Agnew – Emerging projects

Gold Fields, Reinvesting for the future, September 2017

6m quartz with visible gold

Long Section Looking East

Main Kim Waroonga North

Note: selected assay results reported

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SLIDE 26

26

Tarkwa Exploration

Gold Fields, Reinvesting for the future, September 2017

  • Drilling outlined gold

mineralisation along 1.35km strike

  • Kobada trend may

run for more than 7km in total

  • New search area to

extend Kobada to the North and South

  • Infill soil defined nine

0.25g/t anomalies ready for drilling

  • Regarded as a

possible Kobada analogue

  • New targets coincide

with workings and shear-zone

CIL PLANT

STARTER PIT Kobada South Kobada North North Hill Badukrom

South Heap Leach Blue Ridge KD East KD Far North KD Far South

Hydrothermal potential in a larger paleoplacer trend

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SLIDE 27

Regional Review

Gruyere, Western Australia South Deep, South Africa

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SLIDE 28

28

H1 2017: Australia

On track to meet guidance in 2017

H1 2017 H1 2016 Q2 2017 Q1 2017

Production koz 468.8 466.1 243.3 225.4 AIC* US$/oz 924 928 890 962

Gold Fields, Reinvesting for the future, September 2017

  • H1 2017 TRIFR of 12.3 vs. 7.2 in H1 2016
  • FY17 production and costs guidance remains intact:

910koz at AIC of US$1,100/oz

  • Region produced net cash flow of US$51m in H1 2017

despite a US$48m tax payment related to FY 2016

  • Strong cash generating base in St Ives and Granny

Smith

  • Underground portals at Invincible blasted in July
  • Good progress made at Gruyere

̵ On track for first production in early 2019

  • Darlot sale to Red 5 announced on 3 August

̵ Total consideration of A$18.5m comprising A$12m in cash and 130m Red 5 shares ̵ Cash component of A$7m upfront, A$5m deferred up to 24 months. Deferred consideration may be taken in additional Red 5 shares or cash ̵ Gold Fields to underwrite Red 5 rights issue up to A$7m

200 400 600 800 1,000 1,200 50 100 150 200 250 300 350 400 450 500 550 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Production (koz) and AIC (US$/oz)

Production AIC 200 400 600 800 1,000 1,200 1,400 20 40 60 80 100 120 140 160 180 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Net Cash Flow (US$m) and gold price (US$/oz)

Net CF Gold Price * Excluding Gruyere

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SLIDE 29

29

H1 2017: West Africa

Key region for the Group

H1 2017 H1 2016 Q2 2017 Q1 2017

Production koz 358.5 345.5 183.9 174.5 AISC US$/oz 995 1,052 955 1,037 AIC US$/oz 1,142 1,052 1,131 1,153

Gold Fields, Reinvesting for the future, September 2017

  • Focus on safety continues: TRIFR of 0.51 vs. 0.66 in H1

2016

  • Damang Reinvestment off to a strong start

̵ Gold produced in H1 2017 was 77koz; AIC of US$1,702/oz; Project capital expenditure of US$53m ̵ Increase in forecast of total tonnes mined in 2017 to 41Mt from original plan of 33Mt

  • Tarkwa – good recovery in Q2 2017 after a slow start to

the year

  • Net cash flow for the region of US$21m: inflow of

US$34m at Tarkwa and outflow of US$13m at Damang

  • Realising the benefits of the Development Agreement
  • 50% of Ghana’s fuel requirements hedged until December

2019

  • Gas plants operating well at both sites

̵ Damang: 30% reduction in power unit cost to 16.0 USc/kWh ̵ Tarkwa: 18% reduction in power unit cost to 13.5 USc/kWh

200 400 600 800 1,000 1,200 1,400 50 100 150 200 250 300 350 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Production (koz) and AIC (US$/oz)

Production AIC 200 400 600 800 1,000 1,200 1,400 10 20 30 40 50 60 70 80 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Net Cash Flow (US$m) and gold price (US$/oz)

Net CF Gold Price

slide-30
SLIDE 30

30

H1 2017: South America

A steady, low cost producer

H1 2017 H1 2016 Q2 2017 Q1 2017

Au Eq Prod koz 137.0 127.5 68.4 68.7 Au Eq AIC US$/oz 677 728 724 626 AU only Prod koz 69.9 70.5 36.1 33.8 AU only AIC US$/oz 253 489 380 118

Gold Fields, Reinvesting for the future, September 2017

  • Strong safety record continued during H1 2017:

TRIFR of 0.39

  • The region generated net cash flow of US$27m in

H1 2017

  • Work on the life extension is the key focus for

2017 – prefeasibility study (PFS) underway

  • Salares Norte – Brecha Principal and Agua

Amarga studies merged ̵ Mineral resources as at 31 December 2016 of 4.4Moz gold equivalent (25.6Mt at 4.6g/t Au and 53.1g/t Ag)

100 200 300 400 500 600 700 800 900 1,000 20 40 60 80 100 120 140 160 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Production (koz) and AIC (US$/oz)

Production AIC 200 400 600 800 1,000 1,200 1,400 10 20 30 40 50 60 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Net Cash Flow (US$m) and gold price (US$/oz)

Net CF Gold Price

slide-31
SLIDE 31

31

H1 2017: South Africa

Good recovery in Q2 after a tough start to the year

  • Improved TRIFR performance

̵ TRIFR of 2.18 (H1 2016: 2.89)

  • Good recovery in Q2 2017 after a slow Q1

2017

  • FY17 production and costs guidance

unchanged

̵ 9,800kg (315koz) at AIC of R585,000/kg

(US$1,290/oz)

  • Net cash outflow of US$48m (R630m) in H1

2017

  • New EVP, Martin Preece, appointed
  • Integrity of Rebase Plan intact despite

setbacks in Q1 2017

̵ Steady state production of 500koz at AIC

below US$900/oz

H1 2016 H1 2016 Q2 2017 Q1 2017

Production koz 119.3 140.0 73.5 45.8 AISC US$/oz 1,521 1,229 1,352 1,784 AIC US$/oz 1,557 1,257 1,389 1,821

Gold Fields, Reinvesting for the future, September 2017

500 1,000 1,500 2,000 2,500 20 40 60 80 100 120 140 160 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Production (koz) and AIC (US$/oz)

Production AIC 200 400 600 800 1,000 1,200 1,400

  • 70
  • 60
  • 50
  • 40
  • 30
  • 20
  • 10

10 20 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017

Net Cash Flow (US$m) and gold price (US$/oz)

Net CF Gold Price

slide-32
SLIDE 32

Investor Relations Contacts Media Contact

Avishkar Nagaser Tel: +27 11 562 9775 Mobile: +27 82 312 8692 E-mail: Avishkar.Nagaser@goldfields.co.za Thomas Mengel Tel: +27 11 562 9849 Mobile: +27 72 493 5170 E-mail: Thomas.Mengel@goldfields.co.za Sven Lunsche Tel: +27 11 562 9763 Mobile: +27 83 260 9279 E-mail: Sven.Lunsche@goldfields.co.za

Gruyere Project, Western Australia