GOLD FIELDS LTD

Foreign Filer Report • Apr 26, 2018

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tonne to 1.53 grams per tonne due to higher grade mined from Amoanda pit. Gold mined increased by 35 per cent from 25,700 ounces to 34,700 ounces. The strip ratio increased from 14.0 to 15.3. Tonnes processed decreased by 5 per cent from 1.17 million

tonnes in the December quarter to 1.11 million tonnes in the March quarter due to lower plant overall equipment efficiency. Yield

capital waste mined (10.0 million tonnes in the March quarter compared with 8.8 million tonnes mined in the December quarter) and the timing of Amoanda Resource infill drilling projects. All-in sustaining costs decreased by 4 per cent from US$991 per ounce in the December quarter to US$951 per ounce in the March quarter mainly due to increased gold sold and lower net operating cost, partially offset by increased sustaining capital expenditure. All-in costs increased by 7 per cent from US$1,802 per ounce in the December quarter to US$1,934 per ounce in the March quarter due to the same reasons as above, offset by higher non-sustaining capital expenditure. At the end of the March 2018 quarter (15 months into the Damang Reinvestment Project, DRP), total material mined is 22 per cent ahead of the project schedule. Gold produced during the same period is 179,600 ounces, 35 per cent above the progressive DRP plan of 133,400 ounces. All major projects are on schedule. FETSF was commissioned on time during January 2018 and jaw crusher installation is in progress and anticipated to be commissioned in the June 2018 quarter. The SAG mill shell replacement is on track as per the original schedule with installation and commissioning planned for the December 2018 quarter. A one month CIL plant downtime was planned for this shutdown, but plans are in progress to mitigate the impact of this planned shutdown.price of US$1,267 per ounce and 7,830 tonnes of copper that was sold at an average price of US$6,165 per tonne, net of treatment and refining charges, in the December quarter. Total tonnes mined increased by 42 per cent from 4.12 million tonnes in the December quarter to 5.85 million tonnes in the March quarter mainly due to higher waste mined in line with the mining sequence. Ore mined decreased by 4 per cent from 1.75 million tonnes to 1.68 million tonnes. Operational waste tonnes mined increased by 76 per cent from 2.37 million tonnes to 4.17 million tonnes due to additional waste stripping required to access the ore at depth. This strategy is in line with the life extension as announced in the previous quarter. The strip ratio increased from 1.35 to 2.49, in line with the 2018 plan. Ore processed was similar at 1.66 million tonnes. Net operating costs, including gold-in-process movements, de

tonnes at 1.99 grams per tonne) of Neptune high-grade oxide material stockpiled, 7,800 ounces (109,000 tonnes at 2.21 grams per tonne) of Invincible material and 7,900 ounces (174,000 tonnes at 1.41 grams per tonne) of A5 material, at the end of the December quarter. Currently, Lefroy mill can only sustain a 25 per cent oxide

Gold produced