Gold Fields Limited · JSE:GFI

Gold Fields — 2012 BMO Global Metals & Mining Conference

36 slides from Gold Fields's conference presentation, Feb 27, 2012

1. Slide 1: Gold Fields Limited

   TRANSFORM DIVERSIFY GROW Gold Fields Limited To be the Global Leader in Sustainable Gold Mining Nick Holland Holland, Chief E Executive ec ti e Officer 27 February 2012 2012 BMO Global Metals & Mining Conference, Hollywood, Florida

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: 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 (C2011) Robust Free Cash Flow US$752 million4 (C2011) Strong Growth Pipeline Targeting 5Moz5 by 2015 Cons

4. Slide 4: 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 B 12010 31 December __________________________

5. Slide 5: Mineral Reserve

   Mineral Reserve Diversifying and improving the composition of the portfolio over time Dec 2006 Attributable AuEq Reserve Dec 2011 Attributable AuEq Reserve (93.8Moz) (80.6Moz) 0% 3% 7% 5% 8% 11% 23% 46% 15% 4% 33% 45% KDC & Beatrix SRD & TSF* South Deep p West Africa South America Australasia ______

6. Slide 6: Mineral Reserve

   Mineral Reserve Attributable Mineral Reserves per mine/project (million AuEq ounces) 40 Dec-10 Dec-11 36.6 35 34.5 30 Au and Cu--Au Eq. (Moz) 25 20 15 11.9 9.3 10 7.9 70 7.0 6.6 6.0 6.4 5.4 5.0 5 4.3 2.8 3.1 1.8 2.8 1.3 1.4 1.5 1.3 0.2 0.3 0 Agnew Beatrrix ng KDC W KDC W SRD & KDC E SRD & KDC E es w

7. Slide 7: Mineral Resource

   Mineral Resource Attributable Mineral Resources per mine/project (million AuEq ounces) 90 Dec-10 Dec-11 81.5 80 74.8 70 Moz) Au, 2PGE and Cu-Au Eq. (M 60 50 40.2 40 38.4 31.1 30 25.0 20 16.0 13.6 11.312.6 12.2 7.6 9.0 90 9.0 10 5.3 7.0 7.0 6.5 2.4 3.8 3.8 2.9 3.9 5.8 3.3 0.6 2.0 1.7 2.6 0.6 0 gnew e

8. Slide 8: 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

9. Slide 9: 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 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 1,000 2,500 154% 800 205% 2,000 600

10. Slide 10: 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

11. Slide 11: F2011 Dividend

    F2011 Dividend Committed to returning cash to shareholders Dividends (SA cents per share) CY2008 - 2011  Final dividend: 230 SA cents per share 350 − 130% up on interim dividend 300 − 229% up on 2010 final dividend 250  Full year dividend: 330 SA cents per share 200 − 136% up on C2010 dividend 330

12. Slide 12: 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

13. Slide 13: 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 ~

14. Slide 14: 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) ______________________________________

15. Slide 15: 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

16. Slide 16: South Deep Project

    South Deep Project World class project management Forecast production build-up (koz)  Capital infrastructure programme on track 800 700  Ramp up to 700koz run rate end 2015 600 500  Project capital development achieved 105% of 400 planned metres for the year 300 200  Improvement in de-stress min

17. Slide 17: Chucapaca Project: Location

    Chucapaca Project: Location Chucapaca Project in southern Peru Cerro Corona PERU Lima Chucapaca Project Mi i Mining C Concessions i Chucapaca Project Gold Fields 12,700Ha 94,100Ha Buenaventura 18 400Ha 18,400Ha 17

18. Slide 18: Chucapaca Project: Resource pit shell

    Chucapaca Project: Resource pit shell September 2011 Mineral Resource Model and Open Pit Shell (7.6Moz Aueq*) CCP10-137 62.2m at 5.23g/t Au E W CCP11-274 from 409.4m ~70% of Resource 25.8m at 2.00g/t Au from 619.8m Section 950W in the Indicated Section 1100W Category 7.6Moz Aueq* 450 m CCP11-289 g/t

19. Slide 19: Chucapaca Project: Exploration potential

    Chucapaca Project: Exploration potential Good exploration potential in the district... W E Titan Geophysics – Deep Search Ground IP ~ 2km Canahuire C° Chucapaca Agani CCP11_414 16m @ 0.6g/t Au 0 2km …Canahuire Canah ire – one of numerous n mero s targets that ha have e potential 19

20. Slide 20: Chucapaca Project: 2012 Objectives

    Chucapaca Project: 2012 Objectives Indicati e deli Indicative delivery er timeline 2011 2012E 2013E 2014E 2015E 2016E Chucapacaˣ 400 to 600kozpa Aueq Explore* Develop^ Construct# 2012 Objectives  Complete feasibility study during H2 2012  Submit EIA H2 2012  Development decision targeted for end

21. Slide 21: Damang Super-pit Project: Ghana

    Damang Super-pit Project: Ghana Resource and Pre-feasibility targeted for H1 2012  2.1Moz Reserve for total Damang property (31 Dec 10)  Damang Pit Reserve 11.1Moz 1Moz  Other pit reserves of 0.83Moz  Combine Huni, Juno and Damang pits as a Super-pit  Conceptual model generated by cut and paste

22. Slide 22: Damang Super-pit Project: Pit shell

    Damang Super-pit Project: Pit shell Proof of concept drilling demonstrated robust exploration target Juno Damang Huni 121 6m at 1 121.6m 1.74 74 g/t Au 180m at 2.42 g/t Au 605.4m at 0.63 g/t Au 408.4m at 0.52 g/t Au 270m at 0.95 g/t Au 425.4m at 0.71 g/t Au 348.8m at 1.1 g/t Au 143.8m at 3.93 g g/t

23. Slide 23: Damang Super-pit Project: 2012 Objectives

    Damang Super-pit Project: 2012 Objectives Indicative delivery timeline 2011 2012E 2013E 2014E 2015E 2016E Damang Super-pitˣ 400 to 500kozpa p Au Explore* Develop^ Construct# 2012 Objectives  Updated resource model expected in Q2 2012  Complete pre-feasibility study in H2 2012  Ongoing engagement

24. Slide 24: Far Southeast Project (FSE): Philippines

    Far Southeast Project (FSE): Philippines High quality gold-copper porphyry with significant upside potential  Option to acquire 60% interest Far Southeast  88 historic holes defined a high grade gold- Project Area copper porphyry  Established infrastructure in a mining district  Gold Fields init

25. Slide 25: Far Southeast Project: Geology and resource potential

    Far Southeast Project: Geology and resource potential NW SE Enargite Prod: 1938 - 98 Prod: 1997 to present 1,600m 41Mt @ 3.3g/t Au 18Mt @ 7.71g/t Au 700 Drilling level Far Southeast A C Au-Cu Porphyry Exploration Target*: 500m 900Mt at 0.77g/t Au and 0.54% Cu 100 m (52Moz eq) (c/o ~0.8g/t Aueq^) -20

26. Slide 26: Far Southeast Project: A world-class deposit

    Far Southeast Project: A world-class deposit Gold versus Copper Grade (deposit size in Aueq ounces - scaled by bubble size) 1.60 1.40 Production Feasibility Undeveloped Exploration Gold Fields 1.20 Andash High grade trend 1.00 de (g/t) Hunchun Cerro Corona Far Southeast Gold grad 0.80 Bystrinskoye G

27. Slide 27: Far Southeast Project: 2012 Objectives

    Far Southeast Project: 2012 Objectives Indicative delivery timeline 2011 2012E 2013E 2014E 2015E 2016E Far Southeastˣ Explore E l * l ^ Develop D t# Construct C t 4 to 25Mtpa ore 2012 Objectives  Underground drilling to recommence in March 2012 Awaiting g Picture  Complete initial resource estimat

28. Slide 28: Yanfolila Project: Mali

    Yanfolila Project: Mali Komana scoping study  Scoping a 1Moz to 1.5Moz starter project  100,506m RC and DD drilled in 2 years  Good targets within 25km radius of the Komana deposits  Multiple ore sources feeding a central 3Mtpa to 4Mpta CIL plant  Kabaya South  Solona 25km  Sanioumale West ra

29. Slide 29: Yanfolila Project: 2012 Objectives

    Yanfolila Project: 2012 Objectives Indicative delivery y timeline 2011 2012E 2013E 2014E 2015E 2016E Yanfolilaˣ 180 to 250kozpa Au Explore* Develop^ Construct# 2012 Objectives  48,000 meters of additional drilling planned for H1 2012  Resource upgrade and optimisation during H2 2012  Commence pre

30. Slide 30: Arctic Platinum Project (APP), Finland

    Arctic Platinum Project (APP), Finland Detailed scoping study completed Q4 2011 Significant PGE-Cu-Ni Deposits Layered Intrusive Complexes Barents Sea  Platsol® demonstrated as a technically viable process Norway  Improved overall project recoveries  On site production of saleable metals Kevitsa

31. Slide 31: APP Resource expansion & metallurgical test work

    APP Resource expansion & metallurgical test work 21,867m completed out of 40,000m drilling programme 2012 exploration to focus on proving up resource potential of the Suhanko Extension deposits A A’ Suhanko North SUHANKO EXTENSIONS Tuumasuo Konttijärvi SUHANKO PROJECT Ahmavaara Vaaralampi 31

32. Slide 32: Arctic Platinum Project: 2012 Objectives

    Arctic Platinum Project: 2012 Objectives Indicative delivery timeline 2011 2012E 2013E 2014E 2015E 2016E Arctic Platinum 300 to 400kozpa 2PGE+Au Explore* Develop^ Construct# 2012 Objectives  Aim to complete drilling on Suhanko North  Platsol® amenability tests on new resources  Resource upgrade a

33. Slide 33: 5Moz in production or in development by 2015

    5Moz in production or in development by 2015 Continue to improve the quality of the portfolio as measured by NCE per ounce APP FSE Current Base* Yanfolila Damang Super pit Super-pit Chucapaca 5Moz either in production South Deep or in p development 3.5Moz 2011 2015 Target ______________________ * Ac

34. Slide 34: Thank You

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

35. Slide 35: 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

36. Slide 36: 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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