Gold Fields Limited · JSE:GFI

Gold Fields — JP Morgan Global Emerging Markets Corporate Conference 2012

28 slides from Gold Fields's conference presentation, Mar 1, 2012

  1. Slide 1: JP Morgan Global Emerging Markets Corporate Conference

    JP Morgan Global Emerging Markets Corporate Conference Paul Schmidt Chief Financial Officer Wednesday, 29 February – Thursday, 1 March 2012

  2. Slide 2: Forward looking statements

    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

  3. Slide 3: Overview

    Overview yy Srey oA ¥) e fh SN Sa > ‘}) =

  4. Slide 4: What Gold Fields Offers Today

    What Gold Fields Offers Today A Quality Reserve 80.6 million ounces of reserves1 Solid Production Base 3.5 million ounces per annum2 Geographical Diversification 51:49 (RoW3:SA) production split (2011) Robust Free Cash Flow US$752 million4 ((2011)) Strong Growth Pipeline Targeting 5Moz5 by 2015 Cons

  5. Slide 5: Replacing and growing the Mineral Reserve position

    Replacing and growing the Mineral Reserve position Headline numbers1 – Mineral Reserve as at 31 December 2011 Moz 80.6Moz 82 Attributable Reserves 80 76 7Moz 76.7Moz Attributable 78 Reserves 76 74 3.9Moz 3 9Moz 7.8Moz 7 8Moz 72 Depletion Additions 70 68 31 December 2010 31 December 2011* B 1 _______

  6. Slide 6: F2011 Highlights

    F2011 Highlights 97% iincrease iin NCE margin i per ounce tto US$396/ US$396/oz against i t a 29% iincrease iin the US$ gold price Cash Flow Cas o (US$ (US$m))  Attributable production of 3 3.49 49 million gold 2 500 equivalent ounces Operating cash flow 2 165 Free cash flow  47% increase in opera

  7. Slide 7: Leverage to the gold price

    Leverage to the gold price Gold Price (US$/oz) Operating Cash Flow (US$m) 1 800 2 500 1 600 1 400 81% 2 000 141% 1 200 1 500 1 000 800 1 569 2 165 1 000 600 400 865 500 898 200 0 0 2008 2011 2008 2011 EBITDA (US$m) Net Earnings (US$m) 3 500 1 200 3 000 1 000 2 500 154% 800 205% 2 000 600 1 500 2 924

  8. Slide 8: Notional cash expenditure (NCE) explained

    Notional cash expenditure (NCE) explained Disciplined approach to managing the all-in cost for the Group, and for each operation  NCE includes NCE margin breakdown (US$/oz) • Operating costs 1800 • Growth and sustaining capital expenditure 1600 • Brownfields exploration p NCE 490 471 margin 1400 31

  9. Slide 9: NCE margin expansion

    NCE margin expansion Q4 2011 NCE margin of 28 % exceeds long-term target US$/oz 1800 Gold Price Total Cash Cost NCE 1600 29 % 28% 1400 21 21% % 1200 1000 800 600 400 Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011

  10. Slide 10: Increasing international diversification

    Increasing international diversification 2008 Production1 2011 Production1 2015 Production Target2 19% 2% 18% 20% 40% 10% 49% 18% 62% 20% 22% 20% South Africa West Africa Australia South America 2015 Production Target2 South Africa Region Australasia Region West Africa Region South America Region ~

  11. Slide 11: Improving size & profitability of international portfolio

    Improving size & profitability of international portfolio ‘000 ounces 2 500 37% 40% 32% 35% 2 000 30% 26% 25% 1 500 20% 15% 1 000 1,989 1,977 1,802 10% 1,516 5% 500 -2% 0% 0 -5% 2008 2009 2010 2011 International production (LHS) * International NCE Margin (RHS) ______________________________________

  12. Slide 12: Conservative balance sheet and debt strategy

    Conservative balance sheet and debt strategy Balance sheet positioned for growth Net debt (US$m) & Net debt:EBITDA ratio (times)  Low Gearing 3 500 0.90 Net Debt (LHS)  Strong liquidity position 0.80 3 000 EBITDA (LHS)  Robust cash flow generation Net Debt:EBITDA (RHS) 0.70 2 500 0.60  Conservat

  13. Slide 13: Peer Comparison

    Peer Comparison ae feb CON sy (i) 4 Fiecps

  14. Slide 14: Key performance and financial metrics

    Key performance and financial metrics m’ Oz m’ Oz Production (Moz)1 Reserves (Proven and Probable) (Moz)2 160 9 8 140 7 120 S&P M d ’ Moody’s 6 100 5 80 Barrick A- Baa1 4 7.7 139.9 60 3 5.2 98.8 2 4.3 40 80.6 79.1 75.6 Newmont BBB+ Baa1 3.5 2.7 64.7 62.6 1 2.5 2.5 20 0 0 Goldcorp BBB+ Baa2 Newcrest

  15. Slide 15: Key leverage metrics

    Key leverage metrics m’t Oz m Net N D Debt (US$m))1 bt (US$ m’ m Net N tD Oz bt/EBITDA2 (x) Debt/EBITDA ( ) 12 000 1.6 10 624 1.3 10 000 1.2 8 000 S&P M d ’ Moody’s 6 000 08 0.8 06 0.6 0.5 0.5 4 000 2 553 0.4 0.3 Barrick A- Baa1 1 376 1 303 1 164 2 000 0 0 Newmont BBB+ Baa1 -2 000 -133 -765 765 -0 0

  16. Slide 16: Operations Review

    Pee BISN Ga) Operations Review Fiecps

  17. Slide 17: South Africa Region: Overview

    South Africa Region: Overview Sound cost control  Q4 production of 434koz (Q3: 428koz) at a total cash Contribution to Group EBITDA Q4 2011 cost of US$882/oz and NCE of US$1,276/oz  BPR savings of R835 million mitigated mining inflation US$375m | 43% Rest of Group increases US$502m − Cost increase

  18. Slide 18: South Africa Region: Surface strategy

    South Africa Region: Surface strategy Evaluating options to accelerate exploitation of surface resources at KDC Estimated KDC surface gold inventory (Moz) Active site Dormant site (KDC East) E t) Dormant site (KDC West) Total est. inventory: 4.8Moz Active sites (Moz) 06 0.6 09 0.9 15 1.5 Dormant sit

  19. Slide 19: West Africa Region: Overview

    West Africa Region: Overview Operationally sound  Q4 pproduction1 of 220koz ((Q3: 234koz)) at a total Contribution to Group EBITDA Q4 2011 cash cost of US$659/oz and NCE of US$1,071/oz US$232m | 26%  BPR savings i off US$43 million illi ffor the h year Rest of Group US$645m  Commissioned secondar

  20. Slide 20: Australasia Region: Overview

    Australasia Region: Overview Solid performance at St Ives and Agnew Contribution to Group EBITDA Q4 2011  2% increase in production to 172koz (Q3: 169koz) at a total cash cost of US$741/oz and NCE of US$177m | 20% US$1,283/oz Rest of Group US$700m  Songvang open pit mining ramped up  Transition t

  21. Slide 21: South America Region: Overview

    South America Region: Overview Highest margin operation Contribution to Group p EBITDA Q4 Q 2011  Q4 production d ti 1 off 80koz 80k (Q3 (Q3: 94koz) 94k ) att a total t t l cash h US$94m | 11% cost of US$489/oz and NCE of US$719/oz − Decline D li iin gold ld equivalent i l t production d ti mainly

  22. Slide 22: Growth Projects

    Growth Projects IGovp| Fiecps

  23. Slide 23: Creating a globally diversified portfolio

    Creating a globally diversified portfolio Arctic Platinum Creating a globally diversified portfolio Pre-Feasibility Producing Asset • 12Moz 2PGE + Au Development Project resource • Scoping Study Exploration Project confirms Platsol® process • Exploration and amenability in 2012 Woodjam JV Exploratio

  24. Slide 24: Growth Projects: 2012 Objectives

    Growth Projects: 2012 Objectives SOUTH DEEP (South Africa)  Capital infrastructure programme continues to meet key delivery dates  Ramp up to 700koz run rate end 2015  Vent shaft deepening project remains on track for commissioning in the Q3 2012  Plant expansion from 220ktpm to 330ktpm under co

  25. Slide 25: Growth Projects: 2012 Objectives

    Growth Projects: 2012 Objectives FAR SOUTHEAST PROJECT (Philippines)  Underground drilling to recommence in March 2012  Complete initial resource estimate in H2 2012  FTAA expected in H2 2012 (exercise of option and final payment of US$220m)  Pre-feasibility anticipated to commence in H2 2012 AR

  26. Slide 26: Thank You

    Thank You yy Srey oA ¥) e fh SN Sa > ‘}) =

  27. Slide 27: Damang Exploration Target Statement

    Damang Exploration Target Statement Damang Superpit Project, Ghana – Exploration Target Statement The Damang Gold Mine (Abosso Goldfields Ltd) is one of Gold Fields two operating mines in south west Ghana, and currently produces approximately 220-240koz per annum. Following the acquisition (June 201

  28. Slide 28: Far Southeast Exploration Target Statement

    Far Southeast Exploration Target Statement Far Southeast Au-Cu Project, Philippines – Exploration Target Statement The Far Southeast Project (FSE) is an advanced exploration program being conducted by Far Southeast Gold Resources Inc. to investigate and evaluate Au-Cu mineralisation associated with

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