GOLD FIELDS LTD — Regulatory Filings 2015

Aug 20, 2015

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SALIENT FEATURES

level workshop, with improved facilities and excess capacity, is expected to be fully operational for the 2 west and 3 west corridors by end-October 2015.

Mining method: The complexity and interdependence of the various elements of the mining method should not be underestimated, however, progress is being made on the different components.

• De-stress mining – one of the key constraints to de-stress mining has been support installation. At the end of June, eight additional support crews were deployed, which should debottleneck constraints in de-stress mining leading to a better last six months in 2015.

• Ripping/sliping of de-stress ends – a trial to convert footwall ripping to hangingwall ripping in order to improve efficiencies is expected to conclude in Q3 2015.

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In line with our dividend policy to pay out a dividend of between 25% and 35% of normalised earnings, we have declared an interim dividend of 4 SA cents per share, which is at the upper end of the payout range.

In line with our strategy of disposing of non-core assets, Gold Fields reached an agreement with its partner, Consolidated Woodjam Copper Corporation, to sell its 51 per cent interest in the Woodjam copper-gold-molybdenum projects located in British Columbia, Canada. Gold Fields will be issued with new Woodjam Copper shares to take its aggregate holding in Woodjam Copper to 19.9 per cent, and Gold Fields will retain a 2 per cent Net Smelter Return Royalty (NSR) over all unencumbered land owned by Woodjam Copper.

cost of funding;

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5 241,400 ounces in the March quarter to 235,000 ounces in the June quarter due to lower production at St Ives and Agnew/Lawlers.OPERATING COSTS Net operating costs increased by 4 per cent from US$366 million in the March quarter to US$382 million in the June quarter mainly due to the higher production. At the South Africa region, production at South Deep increased by 7 per cent from 1,129 kilograms (36,300 ounces) in the March quarter to 1,203 kilograms (38,700 ounces) in the June quarter despite being negatively impacted by a fatal accident in May 2015. Production was also affected by continued stop and fix initiatives to improve both working conditions and safety. This is evident by a significant improvement in safety performance (TRIFR) from 3.03 year to date June 2015 versus 5.10 in the six months to December 2014.

At the South Africa region, net operating costs at South Deep increased by 11 per cent from R634 million (US$54 million) in the March quarter to R705 million (US$59 million) in the June quarter. This was mainly due to higher production, planned annual salary increases effective 1 April 2015 and higher electricity costs due to the tariff increase and one month of winter tariff.

At the West Africa region, managed gold production at Tarkwa increased by 15 per cent from 135,800 ounces in the March quarter to 156,200 ounces in the June quarter mainly due to higher grades mined and processed. At Damang, managed gold production increased by 6 per cent from 39,000 ounces in the March quarter to 41,500 ounces in the June quarter mainly due to higher tonnes processed. At the West Africa region, net operating costs increased by 9 per cent from US$125 million in the March quarter to US$136 million in the June quarter. This increase in net operating costs was mainly due to an increase in volumes at both mines, as well as a drawdown of inventory of US$6 million compared with a build-up of US$4 million in the March quarter.

At the South America region, total managed gold equivalent production at Cerro Corona increased by 26 per cent from 66,600 ounces in the March quarter to 83,600 ounces in the June quarter. This increase was mainly due to higher gold and copper head grades. At the South America region, net operating costs at Cerro Corona increased by 54 per cent from US$28 million in the March quarter to US$43 million in the June quarter mainly due to higher volumes mined and processed as well as a US$5 million drawdown of concentrate at the end of the June quarter compared with a US$5 million build-up at the end of the March quarter.

At the Australia region, St Ives’ gold production decreased by 10 per cent from 98,700 ounces in the March quarter to 89,200 ounces in the June quarter mainly due to lower throughput relating to completion of processing of Neptune stockpiles, partially offset by higher grade. At Agnew/Lawlers, gold production decreased by 10 per cent from 59,600 ounces in the March quarter to 53,800 ounces in the June quarter mainly due to lower grades mined and processed. At Darlot, gold production increased by 55 per cent from 11,200 ounces in the March quarter to 17,400 ounces in the June quarter mainly due to higher tonnes mined and processed as well as higher grade. At Granny Smith, gold production increased by 4 per cent from 72,000 ounces in the March quarter to 74,600 ounces in the June quarter due to higher volumes and grades mined.

At the Australia region, net operating costs decreased by 7 per cent from A$200 million (US$158 million) in the March quarter to A$186 million (US$145 million) in the June quarter. This was mainly due to lower volumes at St Ives and a drawdown of inventory of A$1 million (US$nil million) at Granny Smith in the June quarter compared with A$6 million (US$4 million) in the March quarter.

OPERATING PROFIT Operating profit for the Group increased by 14 per cent from US$244 million in the March quarter to US$278 million in the June quarter due to the increase in revenue, partially offset by the higher net operating costs.

The average quarterly US dollar gold price achieved by the Group decreased by 2 per cent from US$1,198 per equivalent ounce in the March quarter to US$1,174 per equivalent ounce in the June quarter. The average rand gold price increased by 1 per cent from R457,031 per kilogram to R463,082 per kilogram. The average Australian dollar gold price decreased by 1 per cent from A$1,550 per ounce to A$1,527 per ounce. The average US dollar gold price for the Ghanaian operations decreased by 2 per cent from US$1,218 per ounce in the March quarter to US$1,196 per ounce in the June quarter. The average US dollar gold price, net of treatment and refining charges, for Cerro Corona increased by 6 per cent from US$1,021 per equivalent ounce in the March quarter to US$1,083 per equivalent ounce in the June quarter. The average US dollar/Rand exchange rate weakened by 3 per cent from R11.71 in the March quarter to R12.06 in the June quarter. The average Australian/US dollar exchange rate weakened by 1 per cent from A$1.00 = US$0.79 to A$1.00 = US$0.78. AMORTISATION Amortisation for the Group was similar at US$142 million.

OTHER Net interest paid for the Group decreased by 21 per cent from US$19 million in the March quarter to US$15 million in the June quarter. Interest paid of US$21 million, partially offset by interest received of US$2 million and interest capitalised of US$4 million in the June quarter compared with interest paid of US$26 million, partially offset by interest received of US$2 million and interest capitalised of US$5 million in the March quarter.

The share of equity accounted losses of US$1 million in the June quarter compared with US$3 million in the March quarter and mainly related to the ongoing study and evaluation costs at the Far Southeast project (FSE). The March quarter included the Group’s share of losses at Hummingbird of US$2 million and ongoing study and evaluation costs at FSE of US$1 million.

Revenue increased by 8 per cent from US$610 million in the March quarter to US$660 million in the June quarter due to higher gold sold, partially offset by the lower gold price achieved. Equivalent gold sold increased by 10 per cent from 508,900 ounces in the March quarter to 562,100 ounces in the June quarter. This was mainly due to 34,400 more equivalent ounces sold at Cerro Corona in the June quarter compared with the March quarter, as a result of delays in the shipping schedule at the Salaverry port in Peru in the March quarter.

The loss on foreign exchange of US$2 million in the June quarter compared with a gain of US$2 million in the March quarter. These

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Ore processed increased by 2 per cent from 1.60 million tonnes in the March quarter to 1.63 million tonnes in the June quarter mainly due to an increase in plant throughput from 781 tonnes per hour in the March quarter to 801 tonnes per hour in the June quarter.

Operating profit increased from US$29 million in the March quarter to US$56 million in the June quarter due to higher equivalent gold sold, partially offset by higher net operating costs.

13 At the Australia region, net operating costs decreased by 7 per cent from A$199 million (US$185 million) in the June 2014 quarter to A$186 million (US$145 million) in the June 2015 quarter. All-in sustaining costs and total all-in cost for the region amounted to A$1,288 per ounce (US$1,008 per ounce) in the June 2015 quarter compared with A$1,118 per ounce (US$1,042 per ounce) in the June 2014 quarter.

At St Ives, net operating costs decreased by 3 per cent from A$80 million (US$75 million) in the June 2014 quarter to A$78 million (US$61 million) in the June 2015 quarter. All-in sustaining costs and total all-in cost for St Ives amounted to A$1,454 per ounce (US$1,136 per ounce) in the June 2015 quarter compared with A$1,472 per ounce (US$1,372 per ounce) in the June 2014 quarter due to lower net operating costs and higher gold sold, partially offset by higher capital expenditure.

At Agnew/Lawlers, net operating costs decreased by 2 per cent from A$47 million (US$43 million) in the June 2014 quarter to A$46 million (US$36 million) in the June 2015 quarter. All-in sustaining costs and total all-in cost for Agnew/Lawlers amounted to A$1,357 per ounce (US$1,077 per ounce) in the June 2015 quarter compared with A$1,083 per ounce (US$1,010 per ounce) in the June 2014 quarter, due to lower gold sold.

At Darlot net operating costs decreased by 26 per cent from A$23 million (US$22 million) in the June 2014 quarter to A$17 million (US$13 million) in the June 2015 quarter. All-in sustaining costs and total all-in cost amounted to A$1,500 per ounce (US$1,164 per ounce) in the June 2015 quarter compared with A$1,316 per ounce (US$1,228 per ounce) in the June 2014 quarter due to lower gold sold.

At Granny Smith, net operating costs decreased by 4 per cent from A$48 million (US$45 million) in the June 2014 quarter to A$46 million (US$36 million) in the June 2015 quarter. All-in sustaining costs and total all-in cost amounted to A$989 per ounce (US$770 per ounce) in the June 2015 quarter compared with A$742 per ounce (US$692 per ounce) in the June 2014 quarter due to lower gold sold and higher capital expenditure.

The Group all-in sustaining costs of US$1,029 per ounce and total all-in cost of US$1,059 per ounce in the June 2015 quarter compared with all-in sustaining costs of US$1,050 per ounce and total all-in cost of US$1,093 per ounce in the June 2014 quarter. The lower all-in-sustaining and all-in costs in the June 2015 quarter was due to lower net operating costs, partially offset by lower by-product credits, higher capital expenditure and lower gold sold.

Operating profit decreased from US$311 million to US$278 million as a result of the above.

Amortisation for the Group decreased from US$175 million in the June 2014 quarter to US$142 million in the June 2015 quarter mainly due to lower production and the change in estimate in the depreciation calculation at the Australian operations, which was implemented in the second half of 2014.

Net interest paid decreased from US$19 million to US$15 million due to the paying down of relatively more expensive South African debt as compared with offshore debt in the March 2015 quarter.

The share of equity accounted losses after taxation was similar at US$1 million and mainly related to the ongoing study and evaluation costs at the Far Southeast project (FSE).

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In relation to the Litigation statement, there has been no further update since the release of the Integrated Annual Report on 31 March 2015 except for the SEC investigation.

• The local dividends withholding tax rate is 15 per cent (fifteen per SEC investigation into BEE transaction

N.J. Holland Chief Executive Officer 20 August 2015

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Attributable to: –Owners of the parent –Non-controlling interest

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