Gold Fields South Deep Rebase Plan · • 2016: Cash neutral Kloof Cooke 4 Cooke 1,2,3 . Driefontein . Mponeng DRD Kusasuleto . A World Class Ore Body . Regional geology\爀屲South

Gold Fields South Deep Rebase Plan Market Presentation February 2017

2

Agenda

1. World Class Orebody

2. Operational Strategy & Progress

3. Rebase Plan Strategy & Objectives

4. Geotechnical Considerations and Mine Design

5. Mine Planning and Production Profiles

6. Capital Infrastructure

7. Risks

8. Financials

A World Class Ore Body

4

Introduction and Location

MAIN CHARACTERISTICS

• Situated on the NW rim of the Witwatersrand Basin • Upper Elsburg Formation • 2900m below surface • Dips 12 - 140 South West • Mineral Resource (68,4Moz) Mineral Reserves (37,3Moz) • +70 year mine life

BRIEF HISTORY

• 1950: Prospecting commenced in the area • 1961: Production commenced at Western Areas Gold Mine (WAGM) • 1999: Placer Dome Western Areas (PDWA) Joint Venture (JV) formed • 2000: Name changed to South Deep Gold Mine • 2005: Twin Shaft Complex opened • 2006: Gold Fields acquired Barrick’s 50% interest • 2007: Gold Fields acquired 100% interest • 2008: Stopped all conventional mining • 2009: Introduced LP mechanised destress stoping • 2015: Converted from LP to HP destress stoping • 2016: Cash neutral

Kloof

Cooke 4

Cooke 1,2,3

Driefontein

Mponeng DRD

Kusasuleto


PresenterPresentation NotesRegional geology

South Deep is located in the Far West Rand Goldfield on the north-western rim of the Witwatersrand Basin. This basin comprises a 6,000 metre-thick sequence of predominantly clastic sedimentary rocks, the upper part of which, the Central Rand Group, is characterised by the occurrence of auriferous and uraniferous quartz-pebble conglomerates (reefs) that are sporadically interspersed between finer grained and largely barren quartzitic units. All major reef units are developed above sedimentary unconformity surfaces. The angle of unconformity is typically greatest near the basin margin and decreases toward more distal areas.

The reefs are considered to represent extensive fluvial deposits into a yoked basin, some 350 kilometres long in an east-north-easterly direction, and 200 kilometres wide in a north-north-westerly direction. The reefs are continuous as a consequence of the regional nature of the erosional surfaces. Preferential reef development within channel systems and sedimentary features such as facies variations and channel frequency assist in mapping out local gold distributions.

The gold is deemed to be primarily of detrital origin, deposited syngenetically with the conglomerates. Although the gold generally occurs in native form and is usually associated with pyrite and carbon, most of it has been subsequently modified and locally remobilised during secondary hydrothermalism. The most fundamental control to the gold distribution remains the association with quartz-pebble conglomerates on intra-basinal unconformities. The Modified Palaeoplacer Model is the favoured mineralisation model that is currently in use.

5

Regional Geology - Depositional Environment


MAIN FEATURES

• Upper Elsburg Reef formation constitutes the primary economic target • Geometry suited to mechanised mining • Key Infrastructure

• Twin shaft complex : main and ventilation # to 110 level • South shaft : main and two sub-vertical shafts to 95 level • CIP gold plant

Mining Right Boundary

6

A World Class Ore Body Local geology

ECBA

EAST

120m Vertical

Main target thickness: 5–40m 20-40m 20-30m 20m

Reserve Tonnes:

Reserve Grade:

1 319Kt

8.2g/t

67 898Kt

4,8g/t

180m

WEST Sub-outcrop

3 4

Mining Method: destress

-longhole stoping / drifts and benches

2m VCR MBT

MBB

MIQ MIT MIB MAD MAC

ECT ECMQ ECMC ECBQ ECB ECBAQ

ED

VCR

16 Units

50 490Kt

6.0g/t

77 685Kt

5,4g/t

21 444Kt

4.9g/t

2B 2A 1B 1A 180m 180m 180m 100m 100m Mining Span

Corridors

20m

Longhole Stoping

45-70m

destress longhole stoping / drifts and benches




Proximal higher grade

Distal lower grade

Drifting & Benching


Plan View

CROSS SECTION VIEW (at intersection line shown in plan view)

Targets – Stope Outlines

7

High Profile Destress & Longhole Stoping


slot slot slot Development

Twin Footwall Cross Cut

Drain Hole

Shaft

Stope Access & Infrastructure

8



slot slot slot Development


Drain Hole

Shaft

Stope Access & Infrastructure Cut 1 : Destress Starts

Return Ventilation Pass

Intake Ventilation Pass

Ore Pass

9



slot slot slot slot Development


Drain Hole

Shaft

Stope Access & Infrastructure Cut 1 : LHS Starts

Cut 2 : Destress Starts



Ore Pass

10


slot

Corridor progression 3 active cuts 40 – 60 kt/month


slot slot slot slot Development


Drain Hole

Shaft

Stope Access & Infrastructure Cut 1 : Mature

Cut 2 : LHS Starts

Cut 3 : Destress Starts



Ore Pass

11



slot

Destress cuts in 6 corridors

4 14 cuts 3

11 cuts

2B 9 cuts

2A 6 cuts

1B 4 cuts

1A 5 cuts

90-1 A&B 4 cuts

95-1B 2 cuts

The number of cuts shown are up to the end of North of Wrench

12

YEAR-2 YEAR-3 YEAR-4 YEAR-5 YEAR-6 YEAR-7 YEAR-1

High profile destressing

Longhole Stoping (19 mth Lead time)

High profile support Mechanical Installation

• HP destress (5,5m height x 5m wide) • Primary & secondary support 1

1 2

15m

20m


• Longhole Stoping • Primary source of reef mining 2

High Profile Destress and Longhole Stoping (LHS)

Mining Direction 4 700t/Blast

13

Mining Methods

Drifting • Width – 6 m

• Height – 5.5 m

• Length – up to 60m

• 315 tonnes per blast

Benching • Width – 6 m

• Height – 8 - 15 m

• Length – up to 60m

• 670 tonnes per blast

Drifting and Benching (Selective Mining)

14

A World Class Ore Body Mining Areas

SoW-W

SoW-E

NoW

CM

VCR

RESERVES

• Current Mine 7Mt 1.4Moz (6.1g/t)

• North of Wrench 57Mt 10.7Moz (5.8g/t)

• South of Wrench East 50Mt 8.6Moz (5.3g/t)

• South of Wrench West 104Mt 16.6Moz (5.0g/t)

• Total 218Mt 37.3Moz (5.3g/t)

LOM

• 88.8km capital development

• End of mine life – 2095

2016 Q4 MONTHLY CONTRIBUTION

• Current Mine 102kt 15.4koz 57%

• North of Wrench 58kt 11.5koz 43%

• Total 160kt 26.9koz 100%

61

0 m

1,42

0 m

1,49

0 m

98

0 m

15

Geological Modelling Inputs - De-risking the Ore Body

3D Seismic Survey

(2004)

High correlation with drill hole data

Seismic survey conducted for South Deep future working areas with low resolution drilling data.

Surface drilling (49,536m)

600m x 600m grid

Used for facies boundaries, structural definition,

stratigraphic modelling, assaying and resource

estimation.

LIB Drilling (Long Inclined Boreholes)

(~17 km)

300m x 300m grid

Used for structural definition, stratigraphic modelling,

assaying and grade indication.

Grade Control Drilling

30m x 30m grid

Used for facies

determination, structural definition, stratigraphic

modelling, assaying and resource estimation.

0 – 2 Years Ahead of Current Workings.

2 – 10 Years Ahead of Current Workings.

10 - 80 Years Ahead of Current Workings.

10 - 80 Years Ahead of Current Workings.


PresenterPresentation NotesAt South Deep a range of methods are applied to de-risk the ore body and ensure the required level of ore body definition and confidence is in place to support the various levels of planning, including the LoM, production ramp-up and Operational plans.

Gold Fields initiated a surface 3D seismic survey, covering Kloof and South Deep, which was completed in 2004. It defined the base of the Ventersdorp lava across the majority of the mine lease, which importantly marks the top of the ore body in 3D space. Other significant geological structures are also identified and incorporated in the geological model. Information derived from the subsequent GFI surface drilling campaign is used for structural definition, facies modelling, stratigraphic modelling and also in the resource estimation process. As mining activity continues into virgin ground, LIB holes prospect the area up to 1,500m in front of the workings on an approximate 300m x 300m grid. The data obtained from the LIB holes are used for structural definition, facies modelling, stratigraphic modelling and is also used as an indication of grade (tenor) but is not used in the final grade estimation due to the low angle of intersection. In addition, up to 100m ahead of workings, drilling is undertaken on a closely spaced grade control grid covering ~50m x 50m. This is sufficient to classify the resource as a Measured Resource within these areas. The data obtained from the grade control drilling is used for structural definition, facies modelling, stratigraphic modelling and resource estimation.

16

Geological Modelling Inputs


Current mine 1532 Boreholes Grid 60m

NoW 110 Boreholes Grid 150m

SoW 14 Boreholes 72 Deflections 86 reef intersections Grid of 522m

N


N


LIB and Grade Control Drilling - Plan LIB and Grade Control Drilling - Plan

LIB Drilling - Section


LIB and Grade Control Drilling - Plan


LIB and Grade Control Drilling - Plan


N

Grade control drilling

Surface Drilling LIB drilling

CURRENT MINE 1 532 Boreholes

NORTH OF WRENCH 110 Boreholes

SOUTH OF WRENCH - EAST 6 Boreholes 15 Deflections 21 Reef intersections Grid 600m

SOUTH OF WRENCH - WEST 10 Boreholes 57 Deflections 67 Reef intersections Grid of ± 550m

SEISMIC SURVEY Outline of Seismic survey data • Structure • Reliable VCR top surface modelling

Twin Shaft

South Shaft

Seismic Survey

Operational Strategy & Progress

18

South Deep 2015 – 2016 Business Strategy – Fix the Base

A strong operational platform will ensure sustained operational improvement

Secure and Sustain

Growth

• Rebase Plan • Committed to presenting a new plan in Feb 2017 • Technical assurance • Validated input parameters • Capacity analyses • Aimed at early profitability

• Fix the base • Long term plans off the table • Focus on short term operational improvements • 68 initial BI projects

• Sustainability • Bed down mining methods / geotechnical considerations • Mining value chain and interdependencies • Mine design and planning • Constraint management

1

2

Strategy and Progress

PresenterPresentation Notes

19

Fix the Base - Business Improvement


Program Total Projects Projects

Completed 2017 2018

People 9 7 2 -

Health and Safety 5 3 2 -

Fleet and Fleet Management 11 5 4 2

Infrastructure 16 6 6 4

Mining 15 2 8 5

Mineral Resource Management 10 5 4 1

Financial and Administration 2 1 1 -

TOTAL 68 29 27 12

• Management Team • Technical Support • Mechanised Mining Up-Skilling Program

People

• Ensure Statutory Compliance • Safety Incident / Behaviour Management System • Implement tracking and flagging system (ISOMETRIX)

Health and Safety

• Fleet Renewal • Underground Workshop Stores • Fleet Conditions Assessment • Equip and Commission 93L Workshop

Fleet

• Rail Bound Equipment Proximity Management System • Twin Shaft Skip Loading Facility Rehabilitation Infrastructure

• Footwall Ripping to Hanging wall Ripping • Basic Equipment Appreciation

Mining

• High Profile destress Stoping • South Deep Rebase Project • Regional Pillar Layout • VCR Economic Potential

Mineral Resource Management

• Improve Business Analyses and Reporting Financial and Administration

Key Completed Projects:

20


Head of HR Tumelo Nkisi

VP Technical Advisor

Ken Matthysen

Head of Finance Blessed

Mazibuko

Head of Projects Andre Marais

Head of Technical

Thabile Makgala

Head of Mining Johan Stoltz

Head of SHEQ Stuart Sepetla

VP and Head of Operations Adriaan de Beer

Head of Mining Kabelo Sefatsa

Regional Mining Engineer MI Botha

Head of Metallurgy

Stephen Joseph

Head of Engineering

Johan Kleynhans

Experienced management team appointed

21

Steady state critical skills in place

Description Act Q4 2016 2017 2018 2019 2020 2021 2022

TOTAL LABOUR 5 899 6 149 6 015 5 890 5 867 5 832 5 837

Employees in Service 3 899 4 253 4 363 4 333 4 341 4 308 4 313

Contractors 2 000 1 896 1 652 1 557 1 526 1 524 1 524

MANAGEMENT 19 22 23 23 23 23 23

Region 5 5 5 5 5 5 5

Mine Exco 14 17 18 18 18 18 18

CORE 4 262 4 291 4 142 4 081 4 058 4 023 4 028

Mining 1 561 1 535 1 609 1 590 1 594 1 568 1 576

Vertical and Horizontal Logistics 1 441 1 509 1 406 1 370 1 348 1 346 1 346

TM3 Engineering 720 716 609 603 598 591 588

Backfill 327 262 263 263 263 263 263

Plant 213 269 255 255 255 255 255

SERVICES 1 159 1 262 1 276 1 212 1 212 1 212 1 212

Finance and Administration 380 395 395 395 395 395 395

SHEQ 234 232 231 231 231 231 231

Capital Projects 195 237 260 196 196 196 196

HR 181 198 188 188 188 188 188

MRM 145 184 184 184 184 184 184

Sustainable Development 24 16 18 18 18 18 18

SLP 459 574 574 574 574 574 574

People and Skills

22

Mechanised Mining Skills Development Programs

People and Skills

2017 2018 2019 2020 2021 2022 Outsourced Skills

Compliment 141 35 33 29 29 29

0

20

40

60

80

100

120

140

160

Con

tract

ors

OEM Maintenance Contract

Outsourced Skills Compliment

650

498

154

0

200

400

600

800

1000

1200

1400

1600

Mining employees (1 535)

Management

Supervision

Operators

Assistants

Mine services 13 27 42

58

141 127 112 96

0 20 40 60 80

100 120 140 160 180

2016 Q1 2016 Q2 2016 Q3 2016 Q4

"Back to Basics" Mining Supervisory Up-Skilling Program Planned 154

Trained population Total Remaining

95 191

288 386

403 307

210 112

0

100

200

300

400

500

600

2016 Q1 2016 Q2 2016 Q3 2016 Q4

Trackless Operator Up-Skilling Program Planned Program 498


257

106

79

253

0

100

200

300

400

500

600

700

800

TM3 employees planned (716)

Management

TM3 Artisan/Fman

ENG Artisan/Fman

Lube UV Operators

Assistants

ENG services

22 45 69 94

231 208 184 159

0

50

100

150

200

250

300

Q1 Q2 Q3 Q4

Trackless Artisans/Foreman Up-Skilling Planned Program 253


PresenterPresentation NotesTrackless Machines Operators Program.386 trackless machine operator trained. Program is completed.

Mining Supervisory Program.54 of 154 supervisors, miners trained. Completion is October 2017.

Trackless Artisans and Engineering Supervisors Program.74 of 116 trackless artisans trained. 20 of 25 engineering supervisors trained. Completion is April 2017.

23

Physical Conditions

Focus on Continuous Condition Improvement

Before After

Poor footwall water control Correct roadway conditions

Poor support quality Correct support installation

Mining

24

93 Level workshop commissioned

Effective Infrastructure will Improve Fleet Maintenance and Performance

Maintenance Infrastructure

25

Positive performance trends achieved

Operational Performance

- 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00

2014

2015

2016

TRIF

R

TRIFR

TRIFR Linear (TRIFR)

-

100

200

300

400

500

600

700

800

2014

2015

2016

kg

Gold Recovered Kilograms - monthly average

Gold recovered Linear (Gold recovered)

(1 600) (1 400) (1 200) (1 000)

(800) (600) (400) (200)

- 200 400

2014

2015

2016

R/k

g

Cash Flow (R'm) - annual

2014

2015

2016

- 20 000 40 000 60 000 80 000

100 000 120 000 140 000 160 000

2014

2015

2016

tonn

es

Tonnes Milled – monthly average

Tonnes treated (shafts) Linear (Tonnes treated (shafts))

26

Positive performance trends achieved

Operational Performance

-

100

200

300

400

500

600

700

2014

2015

2016

met

res

Development - monthly average

Development Linear (Development)

- 5 000

10 000 15 000 20 000 25 000 30 000 35 000

2014

2015

2016

m3

Backfill Placed - monthly average

Backfill Linear (Backfill )

-

10 000

20 000

30 000

40 000

50 000

60 000

70 000

2014

2015

2016

tonn

es

Longhole Stoping - monthly average

LHS Linear (LHS)

20%

69%

-

500

1 000

1 500

2 000

2 500

3 000

2014 2015 2016

m2

Destress - monthly average

Low Profile High Profile

Rebase Plan Strategy and Objectives

28

• No compromise on safety and health • Infrastructure maintenance and renewal • Safe mining methods (mechanisation & automation, seismic controls, safe design) • Secondary support capacity designed to match requirement

Safety and Health

• Geology block model updates, Geotechnical, Seismic Hazard Analyses • Mining methods validated • Mining system capacity analyses • Infrastructure capacity • Independent reviews (Gold Fields Technical, GRB, Consulting firms)

Technical Assurance

• Drive towards positive cash flow build up • Increase operating margins with volume growth • Capital expenditure efficiency • Apply technological advancements for increased efficiency • Sustainability

Profitability

• Full SLP compliance (targets aligned to operational status) • Full environmental compliance • Continued support for LED and Joint Alliance projects • Community relations key priority

Social Licence

Strategy

Sustainability & Profitability

Strategy and Objectives

Geotechnical Considerations & Mine Design Criteria

30

Geotechnical Considerations Design optimisation

Aspect Improvements/ changes Reasons for change Progress

Regional Pillars

• 240m horizontal destress span decreased to 180m

• Corridors increased from 4 to 6 at Twin Shaft based primarily on regional pillar changes

• Pillar sizes remained at 60m wide

• Increase the overall stiffness to reduce deformation , improve safe working conditions and improve longhole extraction

• Crush pillar scaling/fretting

• High levels of rehabilitation and re-support required

• Increased extraction rates - increased excavation stability

Complete

High Profile Destress Stopes

• Converted from low (2.2m) to high profile (5.5m) destress stoping

• Converted tunnel profile from square to arched

• Increased yield pillar width from 2,5m (low profile) to 6m (high profile)

• Crush pillar fretting/scaling – increased pillar sizes

• One mechanised fleet

• Mechanised support installation enabled

• Rehabilitation cycles reduced

• Higher extraction rates - cuts remain open for shorter periods prior to LHS

Complete

Rib Pillar

• Increased pillars from 10 x 6m to 8 x 20m

• Changed primary mining direction from N-S to E-W

• Pillar scaling/fretting at 6m observed

• Design based on numerical modelling which showed high convergences in the MAD when mining LHS, indicating a lower LHS recovery

• Lower backfill requirements with rib pillar as extraction ratio reduced

• Lower rehabilitation backfill required

In transition phase

Sequential Longhole Stoping

• Primary-Secondary extraction improved to Sequential extraction

• Width changed from 15m to 11m

• Reduced required life span of Stope Access Drives (SAD’s)

• Lower stope convergence rates

• Increased extraction of Secondary Stopes

• Increased stope availability

Numerical modelling to verify lower predicted convergences

31

Regional Pillar Design - 240m spans versus 180m spans

2W 1W

1aW 1bW 2aW 2bW

3W

4W

3W 3W

2W 1W

1W 2W 3W

4W

• 180m x Spans & 60m x Pillars

• 6 x Corridors

• 240m x Spans & 60m x Pillars

• 4 x Corridors

Geotechnical Considerations

32

Mine Design Destress Cut 2015 Design

Access Ramp

Cut Access

Ore Pass

Footwall Infrastructure

Yield Pillar Design

33

Mine Design Destress Design

Previous Normal Destress Stoping Layout

• Single Access

• 6 m x 10 m Yield Pillars

• High Backfill Requirements

New Rib Pillar Destress Stoping Layout

• Twin Access

• 20 m x 8 m Yield Pillars

• Limited Backfill Requirements

34

Mine Design Destress Cut Infrastructure Improvements

Ore Pass No.2

Ore Pass No.3

Return Pass

Intake Pass

Twin Cut Access Truck Loading Bay Stores

Maintenance Bay Waiting Place / Refuge Bay

Second Escape Pass Bay

Mini-Sub

Pass Bay

Pass Bay

Ore Pass

Rib Pillar Design

Twin MAD

Access Ramp

Footwall Infrastructure

Pump Relay Station (2-3 per corridor)

35

Ventilation Intake

Ventilation Intake

Ventilation Return

Cut 1

Cut 2

Cut 3

Truck Tramming

Corridor Design

Destress Cut Inclination : Destress cut sloped at 10 downwards to accumulate water at the face to facilitate improved water control

Mine Design

36

Longhole Stoping Sequence - Primary / Secondary Sequence (C2017)

Sequential Sequence (C2018)

Legend: Stoping Backfill

1 1

2 2

3 3

4 4

5 5

7 7

6 6

8 8

1 1 2

2

6

6 7

7

3 3

4

4

8

8 9

9

5

5

Mine primary stopes and then secondary

Mine primary stopes with back fill support and primary immediately next to it

Mine Design

37

Geotechnical Considerations Seismicity

Seismic Properties

Events related to production volume and in particular to the

rate of destress stope advance

Events located on abutments, pillars and features

Damage Ratio less than peer mines @ 0.3%

Controls

Reduce Energy Release Rate Corridor Span & Rib Pillar

Preconditioning

Mining Geometry

Geological Structure Strategy

Monitor Systems

Predictive Systems

Forecast

Energy release per tonne reducing

Destress output will not increase significantly

Consensus view - seismicity will not intolerably increase

38

Geotechnical Considerations Seismicity

-

20 000

40 000

60 000

80 000

100 000

120 000

0

50

100

150

200

250

Jan'1

1

Mar'1

1

May'1

1

Jul'1

1

Sep'1

1

Nov'1

1

Jan'1

2

Mar'1

2

May'1

2

Jul'1

2

Sep'1

2

Nov'1

2

Jan'1

3

Mar'1

3

May'1

3

Jul'1

3

Sep'1

3

Nov'1

3

Jan'1

4

Mar'1

4

May'1

4

Jul'1

4

Sep'1

4

Nov'1

4

Jan'1

5

Mar'1

5

May'1

5

Jul'1

5

Sep'1

5

Nov'1

5

Jan'1

6

Mar'1

6

May'1

6

Jul'1

6

Sep'1

6

Nov'1

6

tonn

es

Sei

smic

Ene

rgy

(MJ)

Seismicity (Energy) vs Production

Seismic Energy (MJ) Destress (tons) Massive (tons)

Crush pillars in LP Destress

Stopped for secondary support

All HP Destress

Combined LP & HP

-

10 000

20 000

30 000

40 000

50 000

60 000

0

20

40

60

80

100

120

140

Jan'1

1

Mar'1

1

May'1

1

Jul'1

1

Sep'1

1

Nov'1

1

Jan'1

2

Mar'1

2

May'1

2

Jul'1

2

Sep'1

2

Nov'1

2

Jan'1

3

Mar'1

3

May'1

3

Jul'1

3

Sep'1

3

Nov'1

3

Jan'1

4

Mar'1

4

May'1

4

Jul'1

4

Sep'1

4

Nov'1

4

Jan'1

5

Mar'1

5

May'1

5

Jul'1

5

Sep'1

5

Nov'1

5

Jan'1

6

Mar'1

6

May'1

6

Jul'1

6

Sep'1

6

Nov'1

6

Des

tress

(ton

nes)

No.

of E

vent

s

Seismicity (Events) vs Destress Production

No. of Events

Destress (tons)

Crush pillars in LP Destress

Stopped for secondary support

All HP Destress

Combined LP & HP

Strong correlation with destress stoping volumes

Lower energy release rates (potency) due to improved mining methods (increased regional stiffness)

Mine Planning & Production Profile

40

Mine Planning

• Build-up to full production using input assumptions • Maintain steady state as long as possible from NoW • Maximise volume from Current Mine while the Corridors build up • Verify mining method application

Mining Philosophy

• Stiffer pillar design (Rib-pillar destress & Regional pillars) • Per cut infrastructure concept (Engineering, ore and vent passes and dual access) • Optimised stope designs for improved extraction • Inclined destress cut (10) for improved footwall water handling • Converting ore handling from track-bound to trackless • Removing trucks from the stoping horizons

Mine Design

• Production rates derived from actual performance • Destress advance rates optimised to support the build-up and geotechnical risk • Primary and secondary stoping for 2017, thereafter sequential mining • Minimum 2 stopes per stoping drill rig • Increased volumes with longhole stoping output • Maintain development resources at improved efficiencies

Scheduling

• Footwall development for ore-handling systems and ventilation access • Conveyor, crusher and silo commissioning • Services infrastructure • Defer SoW development

Infrastructure Development

Strategy

41

Mine Planning Production Growth

Production ramp up achieved through: • Increasing contribution from longhole stoping • Increasing mining footprint (increase in number of available faces/stopes) • Increasing productivity

56 49 53 47 64

43 41

24 24 39

35 33

31 33

64 80

82 110 113 150 160

0

50

100

150

200

250

2016 2017 2018 2019 2020 2021 2022

kt/m

th

Development Destress Stoping

153

174

Longhole Stoping

47% 8 Rigs 26 Stopes







144

235 224

210 192

42

Efficiency Assumptions & Plan Outputs

Mine Plan Outputs

Development Drill Rigs no 10 10 9 8 10 6 6 Faces Available no 47 49 47 41 51 41 41 Unit Face Availability faces/rig 5 5 5 5 5 7 7 Rig Efficency m/mth/rig 74 66 78 83 89 91 86 Rig Efficency kt/mth/rig 5.4 4.8 6.0 6.2 6.6 6.8 6.5 Improvement Rate % - -11% 18% 6% 7% 3% -5%Total Output kt/mth 56 49 53 47 64 43 41 Destress Drill Rigs no 10 8 10 8 7 6 6 Faces Available no 65 65 69 71 67 69 70 Unit Face Availability faces/rig 7 8 7 9 9 11 11 Rig Efficency m/mth/rig 46 50 56 63 68 76 82 Rig Efficency kt/mth/rig 2.4 2.9 3.8 4.2 4.6 5.1 5.5 Improvement Rate % - 9% 12% 11% 9% 12% 7%Total Output kt/mth 24 24 39 35 33 31 33 Long Hole Drill Rigs no 6 8 8 9 9 11 12 Faces Available no 15 19 26 26 30 35 35 Unit Face Availability faces/rig 2 2 3 3 3 3 3 Rig Efficency kt/mth/rig 9.8 10.0 10.2 12.2 12.6 13.6 13.4 Improvement Rate % - 2% 2% 19% 3% 9% -2%Total Output kt/mth 64 80 82 110 113 150 160 Production Volume UG kt/mth 144 153 174 192 210 224 235 Production Volume UG kt/annum 1,722 1,840 2,085 2,300 2,518 2,691 2,815 Grade g/t 5.2 5.3 5.3 5.3 5.4 5.7 5.5 UG Au Recovered Kg 8,994 9,752 11,088 12,204 13,698 15,385 15,454 Surf Au Recovered Kg 38 48 48 20 - - -Improvement Rate % - 9% 14% 10% 12% 12% 0%Total Au Recovered Kg 9,032 9,800 11,136 12,224 13,698 15,385 15,454

Dev

elop

men

tD

estre

ssLo

ngho

leTo

tal

Sheet1

Description Unit2016201720182019202020212022

DevelopmentDevelopment Drill Rigsno1010981066

Faces Availableno47494741514141

Unit Face Availabilityfaces/rig5555577

Rig Efficencym/mth/rig74667883899186

Rig Efficencykt/mth/rig5.44.86.06.26.66.86.5

Improvement Rate%--11%18%6%7%3%-5%

Total Outputkt/mth56495347644341

DestressDestress Drill Rigsno108108766



Rig Efficencym/mth/rig46505663687682


Improvement Rate%-9%12%11%9%12%7%

Total Outputkt/mth24243935333133

LongholeLong Hole Drill Rigsno688991112




Improvement Rate%-2%2%19%3%9%-2%

Total Outputkt/mth6480821101131501601531,840- 0- 0

TotalProduction Volume UGkt/mth144153174192210224235

Production Volume UGkt/annum1,7221,8402,0852,3002,5182,6912,815

Gradeg/t5.25.35.35.35.45.75.5

UG Au RecoveredKg8,9949,75211,08812,20413,69815,38515,454

Surf Au RecoveredKg38484820---

Improvement Rate%-9%14%10%12%12%0%

Total Au RecoveredKg9,0329,80011,13612,22413,69815,38515,454

CheckTonnes1,904,0032,085,4692,300,1042,518,4582,690,8812,815,021

1,902,1632,083,3842,297,8032,515,9392,688,1902,812,205

Au10,15111,08812,20413,69815,38515,45414.457

399- 0- 0- 0- 0- 0

10

-9,742

Development0000000

Destress0000000

Stoping0000000

0000000

44%52%47%57%54%67%68%

DescriptionC2016201720182019202020212022

1.Development (incl. drifting)t689,872636,972636,910564,716762,794515,735491,064

1.01Rig Allocationno10.310.28.87.69.66.36.3

1.02Ends Availableno484641514141

1.03End Availabilityno/month555577

1.04Efficiencym/rig74768383899186

1.05Advancem9,3798,8008,8137,56710,1996,8756,507

1.06Reef Tonnest524,432529,134534,631476,571636,753463,164367,820

1.07Waste Tonnest110,817107,838102,27888,145126,04152,572123,244

1.08Productiont/m67,72853,08153,07647,06063,56642,97840,922

2.Destress t285,949333,749467,372418,400399,487373,717400,522


2.02Ends Availableno717171666868

2.03End Availabilityno/month97991111

2.04Efficiencym/rig46505663687682

2.05Destressed Area m234,80846,72465,19358,36255,72452,12955,868

2.06Destress Advancem5,7474,7446,6195,9255,6575,2925,672

2.07Productiont/m5027,81238,94834,86733,29131,14333,377

3.Stopingt747,479933,282981,1881,316,9881,356,1771,801,4281,923,434


3.01Ends Available no/month15232225253336

3.01End Availabilityends/rig2.42.82.82.82.83.03.0

3.01Efficiencyt/rig9,83510,10710,75912,83613,21814,36514,060

3.01Productiont/m77,77381,766109,749113,015150,119160,286

80,856

4.Secondary Supportm8,20010,56010,5606,7205,6335,6335,633

5.Backfillm3373,806413,713368,681546,471553,052696,268734,178

6.Total Mining

6.01Total Tons Brokent1,723,3011,962,1242,267,6532,483,3972,686,6812,765,7842,861,048

6.02Total Reef Tons Brokent1,612,4831,796,1641,983,1912,211,9592,392,4172,638,3092,691,776

6.03Total Waste Tons Brokent110,817165,959284,462271,438294,264127,475169,272

6.04Total Tonnes broken (Monthly)t/mth143,608163,510188,971206,950223,890230,482238,421

6.05Recovered gradeg/t5.25.24.94.95.15.65.4

6.06Recovered Contentkg9,01710,15111,08812,20413,69815,38515,454

6.07Surfacekg58484820- 0- 0- 0

6.08Recovered Contentkg9,01910,19911,13612,22413,69815,38515,454

Development

20162017201820192020202120225.6274083333333301E-24.9232999999999999E-25.307579461570542E-24.705965275103581E-26.3566168449337712E-24.2977953277966406E-24.0922005001732653E-2Destress

20162017201820192020202120222.3616416666666671E-22.3722E-23.8947626299201912E-23.4866652464139204E-23.3290569889357378E-23.1143097636344586E-23.3376865393955797E-2Stoping

20162017201820192020202120226.3629916666666661E-28.0378330000000012E-28.1765666666666709E-20.1097490.113014750000000010.1501190.16028617158352798

kt/mth

43

• Fleet size and composition aligned to production requirements

• Minimal change in overall fleet compliment

• Primary production increase based on increase in longhole stoping capacity

• Rebuild fleet replacement and rebuild programme included

• LP fleet phased out

Production Planning Trackless Fleet Schedule

Description 2016 2017 2018 2019 2020 2021 2022

1 TOTAL 202 199 202 197 196 191 186 2 CATEGORY 1 111 108 111 106 105 100 95 2.1 HP Drill Rigs 30 31 33 31 31 28 26

2.2 LHS Drill Rigs 8 10 11 11 11 12 12

2.3 LHD's 33 35 38 35 35 34 31

2.4 Bolters 5 5 5 5 5 5 5

2.5 Dump Trucks 23 22 24 24 23 21 21

2.6 LP Drill Rigs 4 1 - - - - -

2.7 LP LHD's 8 4 - - - - -

3 Procure - 9 10 11 9 14 18

4 Rebuild 5 24 24 34 24 21 14

5 CATEGORY 2 91 91 91 91 91 91 91

44

Mining Capacity, Ore Handling and Hoisting Simulation

Performance Analyses

Design Criteria

Variability Modeling

Monte Carlo Simulation

Discreet Event Simulation

Mining Capacity Modeling

Mining Activities:

• Development Drilling and Loading Cycles

• Slot Cut Drilling and Loading Cycles

• Longhole Stoping Drilling and Loading Cycles

• Blast Cycles

• Backfill Cycles

Logistics:

• Tramming Cycles (90, 93, 95,100 L)

• Crushers (2W, 4W, 4W Satellite)

• Conveyors (100, 105 L)

• Silo’s/Transfer Boxes/Passes Levels

• Hoisting Cycles (Main & Vent Shafts)

• RoM Stockpile

Capacity Analysis:

• Cut

• Corridors

• Mining Areas

• Infrastructure

Mining Activities:

• Drill Designs

• Tramming Routes

• Activity Cycle Elements

• Shift Cycles

Infrastructure:

• Hauling Routes

• Surge Capacities

• Crusher Design Specification

• Conveyor Design Specification

• Shaft Design Specification

• RoM Stockpile Design

Combined

Mine Planning

45

Summary of Results - Mining Capacity, Ore Handling and Hoisting Simulation

90, 95, 100 Level Tramming

Capacity

160 ktpm

Crushers Capacity Phase 1

(2W / 4W Satellite)

180 ktpm

Crushers Capacity Phase 2

(2W / 4W)

310 ktpm

Current Mine

90 ktpm

North of Wrench

70 ktpm

Total

160 ktpm

Ore Handling and Hoisting

Mining Capacity 2017

Current Mine

15 ktpm

North of Wrench

230 ktpm

Total

245 ktpm

Mining Capacity 2027 (Steady State achieved by 2022)

+

+

=

=

Total Tonnes

Reef tonnes and internal waste tonnes

Reef tonnes and internal waste tonnes

Mine Planning

PresenterPresentation Notes

47

-

5.0

10.0

15.0

20.0

25.0

30.0

0

50

100

150

200

250

300

2016

20

18

2020

20

22

2024

20

26

2028

20

30

2032

20

34

2036

20

38

2040

20

42

2044

20

46

2048

20

50

2052

20

54

2056

20

58

2060

20

62

2064

20

66

2068

20

70

2072

20

74

2076

20

78

2080

20

82

2084

20

86

2088

20

90

2092

20

94

Au

Pro

duct

ion

(t)

Ore

Pro

duct

ion

(kt/m

th)

Current Mine

Life of Mine - Tonnage Profile – Average Tonnes per Month

Production Profile

NoW

SoW East 80kt/mth

SoW West 150 kt/mth t Au

Steady state from Current Mine and North of Wrench

2022 ≈ 10 years

South of Wrench (East and West)

Destress starts in 2033 ≈ 63 years

230

Capital Infrastructure

49

Basic Ventilation and Refrigeration Infrastructure Layout

33 Lvl

48 Lvl

49 Lvl

50 Lvl

53 Lvl

56 Lvl

58 Lvl

60 Lvl

63 Lvl

65 Lvl

68 Lvl

70 Lvl

70a Lvl

72 Lvl

75 Lvl

78 Lvl

80 Lvl

83 Lvl

85 Lvl 87 Lvl

90 Lvl 90 Lvl

93 Lvl 93 Lvl

94 Lvl

95 Lvl 95 Lvl

100 Lvl

105 Lvl

110 Lvl

Colour Coding: RED – UPCAST SHAFT GREEN – DOWNCAST SHAFTS

SV 1 50

Level Plugs

Shaft damaged Not in use

South Shaft

SV 3

Intermediate Pump

Stations

Twins Ventilation

Shaft 2 of 4 fans

running Twins Main Shaft

1W 2W 3W


Deepened Section

94L Refrigeration Module 3/4 2019

Rock Capacity 175ktpm Rock Capacity 195ktpm

83 Level Backfill Plant

95a Level Pump Station

80L Refrigeration Module 1/2 : 2018 Module 3 : 2019 Module 4 : 2020

2x Surface Fans – Replacement 2017

Future – 1520 Kg/s

Current – 1210 Kg/s

Ventilation Requirements

Cooling Requirements

Future – 110 MW

Current – 76 MW

SV 2

2020 3 of 4 fans

running

50

Cooling Phase In

0

5

10

15

20

25

30

35

40

45

50

0

50

100

150

200

250

300

Q1 C2016

Q2 C2016

Q3 C2016

Q4 C2016

Q1 C2017

Q2 C2017

Q3 C2017

Q4 C2017

Q1 C2018

Q2 C2018

Q3 C2018

Q4 C2018

Q1 C2019

Q2 C2019

Q3 C2019

Q4 C2019

Q1 C2020

Q2 C2020

Q3 C2020

Q4 C2020

Kilo

Ton

nes

87-1/2W 90-3W 90-1bW 95-1W 95-2W 95-3W 100-1aW 100-1bW 100-2aW 100-2bW 100-3W 100-4W Cooling Capacity (MW)

105-3W BAC

95-1W BAC1

100-2W BAC

Surface Refrigeration

94 Level Refrigeration

Plant Twin Shaft

105-4W BAC

95-1W BAC2 80 Level

Refrigeration Plant

South Shaft

No.4 Machine

No.3 Machine

No.2 Machine

No.1 Machine

No.1 Machine

No.2 Machine


No.3/4 Machine

Coo

ling

Cap

acity

(MW

)

51

-

20 000

40 000

60 000

80 000

100 000

120 000

140 000

160 000

180 000

200 000

220 000

240 000

260 000

280 000

Jan-

17

Mar

-17

May

-17

Jul-1

7

Sep-

17

Nov

-17

Jan-

18

Mar

-18

May

-18

Jul-1

8

Sep-

18

Nov

-18

Jan-

19

Mar

-19

May

-19

Jul-1

9

Sep-

19

Nov

-19

Jan-

20

Mar

-20

May

-20

Jul-2

0

Sep-

20

Nov

-20

Jan-

21

Mar

-21

Main Crusher 2 West Main Crusher 4 West Satellite Crusher 4 West 100 Level Rail Now Tonnage Main Crusher 2 West

Construction 16 Months Aug'18 to Nov‘19

Main Crusher 4 West

Construction 14 Months Mar'17 to

May'18

Satellite Crusher 4 West

Construction 6 Months June 17 to

Dec 17

100 Level Rail

Rock Handling Infrastructure NoW Capacity

Tonn

es

100 4 West Box 3 June 2017


NoW Tonnage

52

Capital Infrastructure Ore Handling - South Deep Ore Handling (NoW) - Overview

Main # Vent #

Corridor 4

Main Crusher

4 W

110A Level Conveyors

SILO 3

SILO 5

SILO 4 SILO 2

SILO 1

Crusher 6 W

South #

Corridor 3 Corridor 2B

Corridor 2A

Corridor 1A

Corridor 1B

Main Crusher

2 W

Satellite Crusher 4 W

95 Level

90 Level

100 Level

105 Level

90 Level Rail 95 Level Rail 100 Level Rail 100 Level Conveyor 105 Level Conveyor 110 Level Conveyor 110A Level Conveyor Silo Shaft Passes

93 Level Workshop

53

Capital Infrastructure Backfill - Focus Areas

Evolution from CCT to FPT - Game changer for South Deep backfill operations

• Refurbish and modernise CCT plant, Control & Instrumentation (Surface and 83 level)

• Hot commission full FPT plant (320m3/hour capacity) • Integrate FPT & CCT plant operational control

Backfill Manufacturing

• Installation of 2 x additional CCT ranges from surface to 83 level (Redundancy)

• Commissioning 6 x FPT ranges in total (2 already in operation) • FPT range extension into all corridors

Distribution

• Deployment of interim backfill barricade for LHS (Bags) • Finalisation of future shotcrete barricade trails • Development of mechanised shotcrete construction processes

Barricade Construction

• Daily Longhole Stoping priority tracking • Active backlog monitoring • Flexibility and redundancy improvements • Improved quality control and training

Filling Requirements &

Operational Readiness

• Density, particle size distribution, binder type testing • Quality test program (UCS, pressure, deflection, rheological) • Increase FPT contribution from 10% to 90% of total backfill

Backfill Type & QA/QC

Del

iver

ing

Sout

h D

eep

54

Capital Infrastructure Backfill - Longhole Stope Barricades

Longhole Stoping Barricades

• Historical practice at South Deep • Labour & Material intensive • Multiple lifts constructed on top of one another • Wooden uprights covered with wire mesh and shotcrete • Construction time required : 9-12 days • Fill pour rate : Maximum lift of 0.6m per day vertically

Paddock Barricade

• Pumpable bag stack constructed vertically to create wall • Bag size 2.5m W x 5.0m L x 0.4m H, pumped with Cemented Classified Tailings (CCT)

• Gaps between bags and sidewall sealed with wire mesh and geo-fabric sheets

• Construction time required : 4-6 days • Fill pour rate : Maximum lift of 1.2m per day vertically

Pumpable Bag Stacks (Interim

Application)

• Large scale deployment of modern curved shotcrete walls (Industry norm)

• Steel lattice frame covered with wire mesh and shotcrete (450mm thick)

• Construction time required : 3-4 days • Fill pour rate : Continuous pour from start up to 160m3/hour (lift of 3-4m per day for a area of 15m by 30m)

Shotcrete Barricade Wall

(Future) Sout

h D

eep

Back

fill E

volu

tion

55

0

10 000

20 000

30 000

40 000

50 000

60 000

70 000

80 000

90 000

Jan-

17

Mar

-17

May

-17

Jul-1

7

Sep

-17

Nov

-17

Jan-

18

Mar

-18

May

-18

Jul-1

8

Sep

-18

Nov

-18

Jan-

19

Mar

-19

May

-19

Jul-1

9

Sep

-19

Nov

-19

Jan-

20

Mar

-20

May

-20

Jul-2

0

Sep

-20

Nov

-20

Jan-

21

Mar

-21

May

-21

Jul-2

1

Sep

-21

Nov

-21

m3

Backfill Required Placement Capacity

Backfill Requirements vs Placement Capacity


4th FPT range operational

Commissioning of 2 additional FPT ranges

Increased efficiency due to barricade construction improvements

Increased efficiency due to an increased void availability

Increased efficiency due to stope locality and orientation and FPT range distribution

56

Capital Infrastructure Pumping Strategy

• Separation of the mine service water from cooling water • Current mine water above 95 Level report to South Shaft • South Shaft pump station and surface infrastructure to remain for LOM pumping • Reduction in pumping requirements - Cooling water in closed loop system • Mine water pumped from stopes to relay pump station

57

Capital Infrastructure Capital Development - 2016 - 2022

2017 2018 2019 2020 2021 2022

2W Main Crusher Feeds rock to 100 level and 105 level conveyers

4W Main Crusher Feeds 105 level conveyor

Corridor 2A Cross Cut

Development

100-1A and 1B Cross Cut

Development

Corridor 4 Cross Cut

Development

Corridor 3 Cross Cut

Development

Corridor 2B Cross Cut

Development

105 level conveyor

100 level conveyor

95 level

93 level

Twin Shaft

South Shaft

93 Level access to 1W (2018) • Return air ways • Access to 93 level workshop

100 level workshop

58

Growth Capital Expenditure


Description C2016 C2017 C2018 C2019 C2020 C2021 C2022 Total

Infrastructure - Underground - 204 273 308 157 57 45 1 044

Refrigeration - 74 159 151 99 17 6 506

Ore Handling - 52 22 51 - - - 125

Backfill - 39 32 16 4 7 - 98

Crushers - 22 42 62 20 - - 146

Tips - 8 16 - - - - 24

Pumping Construction - 6 - - - 28 34

Sub Stations - 3 2 - - - - 5

Silo And Orepass - - - - - - 11 11

Workshops - - - 28 34 33 - 95

Follow on Development 109 60 89 142 143 133 157 724

Electricity - 9 13 20 20 19 23 104

Vertical Development - 7 - 78 3 - - 88

Drilling 6 7 6 6 13 13 12 57

Fleet - - 23 - - 39 4 66

Contingency - - 20 28 17 13 12 90

Growth/Expansion Totals 115 287 424 582 353 274 253 2 173

• The R2.17b includes R1,36b not spent from the 2009 Feasibility Study and an additional R809m for scope and schedule variances

• The additional R809m includes increases in infrastructure development (R300m), electricity (R104m), backfill (R98m), workshops (R95m), vertical development (R88m), crushers (R77m), fleet (R66m), underground drilling (R58m), conveyor belting (R56m), relay pump stations (R34m), tip construction (R24m), others (R108m) and contingency (R90m). It further more includes reductions in pumping infrastructure (R344m), metallurgical (R31m) and refrigeration (R14m)

60

Top Operational Risks No Risk Risk Mitigating Action

1 Geotechnical risk associated with destress mining method • Optimised design – increased regional stiffness • Pillar behaviour monitoring • Preconditioning

2 Loss of secondary longhole stopes

• Change to sequential mining beyond 2017 • Secondary stope monitoring • Production engineering department establishment • Planned stope availability buffer

3 Seismicity

• Daily seismic hazard warning informed by real time underground instrumentation • Independent review of seismic risk IMS / SRK / GRB • Seismic task team • Mine design and face shape management

4 Achieve mine planning input parameters • Destress infrastructure • Additional ore passes • Growth infrastructure projects

5 Key growth infrastructure delays • Best practice project management services and skills for project execution • Outsourcing • Performance Management

6 Supervisory skills and TM3 skills • Training programs • On the job training and coaching • New recruits with experience

7 Quality backfill supply and placement

• Utilize FPT plant for longhole stoping • Upgrade of the backfill infrastructure • Designed backfill barricade • Backfill binder control

8 Availability of Mineable LHS • Destress mining progress to increase redundancy • Additional 20% stopes planned at all time • Continuation of LHS operating model

9 Face time utilization • Levelok on conveyances • Horizontal transportation optimization • Zoning and Shaft Schedule

10 Labour relations (Shift cycles, Equity) • Continuous engagements • Strategic intervention regarding shift cycles

Financial

62

Financials Executive Summary 2017 Money Terms

Long Term Guide

1. Gold remains at circa 500koz per annum from 2023 to 2031 and thereafter reduces to circa 480 koz per annum due to a reduction in grade.

2. Operating costs remains at circa R4.5m per annum after 2022.

3. Sustaining capex reduces from R1b in 2022 to circa R800m per annum from 2026 onwards.

4. Growth capex increase steadily from R250m in 2022 to R880m in 2027 to account for South of Wrench expenditure and thereafter reduces to R200m per annum in 2040.

5. South of Wrench capex commences in 2024 and escalates to a peak of R600m in 2031 before initiation of the drop off.

6. All in Cost remains below 900 US$/oz after 2022 and reduces to 800 US$/oz from 2044.

Description Unit 2016 2017 2018 2019 2020 2021 2022

Tonnes Milled kt 2 249 2 452 2 868 2 733 2 687 2 766 2 861Underground Reef kt 1 634 1 829 2 085 2 300 2 518 2 691 2 815Underground Waste kt 107 56 182 183 168 75 46Surface kt 508 567 600 250 - - -

Recovered Grade g/t 4.02 4.00 3.88 4.47 5.10 5.56 5.40Underground g/t 5.16 5.17 4.89 4.91 5.10 5.56 5.40Surface g/t 0.08 0.08 0.08 0.08 - - -

Gold Produced kg 9 032 9 800 11 136 12 224 13 698 15 385 15 454Ounces Produced koz 290 315 358 393 440 495 497

All-In-Cost Rm 5 248 5 734 6 325 6 736 6 428 6 425 6 217Operating Cost Rm 4 003 4 296 4 650 4 685 4 736 4 755 4 790Capital Expenditure Rm 1 145 1 291 1 559 1 952 1 590 1 562 1 318Other Cost Rm 101 147 115 99 103 108 108

All-In-Cost R/kg 583 059 585 129 567 910 551 004 469 273 417 647 402 273All-In-Cost US$/oz 1 234 1 280 1 240 1 195 1 020 905 875

Operating Expenditure Rm 4 003 4 296 4 650 4 685 4 736 4 755 4 790Labour Rm 1 872 2 060 2 254 2 227 2 239 2 217 2 220Stores Rm 896 971 1 034 1 068 1 092 1 120 1 145Outsourced Services Rm 382 384 298 293 293 292 292Utilities Rm 436 513 547 577 590 600 608Other Rm 417 369 516 519 522 524 525

Capital Expenditure Rm 1 145 1 291 1 559 1 952 1 590 1 562 1 318Sustaining Capex Rm 1 030 1 004 1 135 1 370 1 237 1 289 1 066Growth Capex Rm 115 287 424 582 353 274 253

Sheet1

DescriptionUnitTotal LoM20162017201820192020202120222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047204820492050205120522053205420552056205720582059206020612062206320642065206620672068206920702071207220732074207520762077207820792080208120822083208420852086208720882089209020912092209320942095

Tonnes Milledkt219,6192 2492 4522 8682 7332 6872 7662 8612,7782,8102,7532,6822,7982,7762,8472,7812,7432,8222,7252,6712,9022,6882,5282,8732,7062,7582,7082,8732,7813,1402,9433,0843,2233,2833,0532,9343,0513,0202,9792,9472,7113,0652,8002,8952,7533,1792,8912,9632,8182,9643,1793,1742,9013,2243,2113,0202,8852,6312,7252,9922,6742,5412,5872,4682,4452,5562,5372,5212,2792,5042,3782,5172,5872,8872,3642,4762,6562,8972,6152,1991,924

Underground Reefkt1 6341 8292 0852 3002 5182 6912 815

Underground Wastekt107561821831687546

Surfacekt508567600250---

Recovered Gradeg/t4.024.003.884.475.105.565.40

Undergroundg/t5.165.174.894.915.105.565.40

Surfaceg/t0.080.080.080.08---

Gold Producedkg1,119,6529 0329 80011 13612 22413 69815 38515 45415,62616,46716,33516,21715,68614,99715,84515,08814,94315,72514,79113,98515,61413,33912,45514,44612,86712,92813,56613,49513,31214,66614,58915,78116,24816,07814,28514,49415,27615,80115,85214,76713,53714,79213,29913,97613,90515,62515,15514,01712,45313,47316,09415,25113,25116,89515,24415,82414,22813,41313,73515,33014,21612,54312,93713,04512,78013,96814,23214,50212,29313,94112,86714,38513,76615,36812,25213,07412,33215,16412,67610,54110,013

Ounces Producedkoz35,998290315358393440495497502529525521504482509485480506476450502429400464414416436434428472469507522517459466491508510475435476428449447502487451400433517490426543490509457431442493457403416419411449458466395448414463443494394420396488408339322

All-In-CostRm425,1415 2485 7346 3256 7366 4286 4256 2175,9835,9935,7555,8766,2186,2656,2426,0796,1735,9486,1615,8816,1175,6795,4525,5355,5995,5746,3095,5495,3885,3375,4245,3775,6625,4945,7525,4995,6485,3895,6985,3985,1675,2665,3225,5535,1955,3935,3705,3835,3935,3445,3835,4235,2265,4145,4795,3155,2345,1245,0605,1325,1174,9244,9124,8804,7694,7834,9214,9954,7574,7784,6504,7304,8004,8614,5724,6214,0714,2184,0493,7313,507

Operating CostRm334,2884 0034 2964 6504 6854 7364 7554 7904,5924,6014,4764,4164,4574,4524,4764,4644,4484,4624,4274,4044,4914,3494,2554,4234,3734,3834,3694,4344,2664,3084,2394,2974,3654,3994,2684,2214,2674,2494,2254,2064,1144,2564,1544,1784,1234,2914,1764,2134,1594,2154,3524,3394,2394,3674,3594,2494,1714,0414,0744,1724,0383,9743,9873,9373,9273,9693,9593,9523,8583,9423,8153,8973,9384,1083,8013,8703,9754,1143,9533,6413,417

Capital ExpenditureRm82,7861 1451 2911 5591 9521 5901 5621 3181,2861,2841,1721,3531,6561,7101,6611,5121,6221,3811,6311,3771,5211,2311,1001,0101,1291,0931,8411,0151,0249271,0839751,1909891,3831,1761,2781,0351,3681,0899539071,0691,2759729971,0901,0701,1391,0299259808889391,01696096398488685697985382884474571386194280373673773276264867565400000

Other CostRm8,0671011471159910310810810510710710710510310610310310510310010599961029797999999102102105107106101102104105106103991039910010010510410096991061049810810410510199100104101969898971001011029610097102100104969896104979189

All-In-CostR/kg379,708583 059585 129567 910551 004469 273417 647402 273382,897363,945352,274362,315396,383417,780393,961402,919413,120378,236416,579420,513391,751425,727437,727383,127435,130431,202465,019411,164404,756363,890371,808340,747348,465341,714402,676379,417369,751341,060359,463365,544381,668355,981400,162397,320373,614345,162354,327384,049433,108396,605334,439355,599394,372320,442359,434335,862367,892381,997368,370334,753359,984392,545379,712374,051373,197342,439345,784344,456386,992342,750361,394328,833348,678316,306373,162353,464330,131278,146319,452353,998350,201

All-In-CostUS$/oz8221 2341 2801 2401 1951 0209058758307897637858599058548738958209039118499229488309439341,008891877788806738755740872822801739779792827771867861809748768832938859725770854694779728797828798725780851823810809742749746838743783712755685809766715603692767759

Operating ExpenditureRm334,2884 0034 2964 6504 6854 7364 7554 7904,5924,6014,4764,4164,4574,4524,4764,4644,4484,4624,4274,4044,4914,3494,2554,4234,3734,3834,3694,4344,2664,3084,2394,2974,3654,3994,2684,2214,2674,2494,2254,2064,1144,2564,1544,1784,1234,2914,1764,2134,1594,2154,3524,3394,2394,3674,3594,2494,1714,0414,0744,1724,0383,9743,9873,9373,9273,9693,9593,9523,8583,9423,8153,8973,9384,1083,8013,8703,9754,1143,9533,6413,417

LabourRm152,5961 8722 0602 2542 2272 2392 2172 2202,1402,1412,0472,0212,0282,0292,0272,0292,0262,0192,0202,0182,0182,0202,0122,0242,0272,0302,0312,0391,9631,9261,9291,9351,9531,9651,9181,9141,9171,9111,9021,8951,8891,9021,8961,8851,8821,8951,8851,8951,8941,8971,9461,9451,9441,9541,9521,9101,8821,8451,8431,8441,8261,8111,8071,8001,7991,8001,7971,7951,7901,7921,7871,7941,7941,7911,7881,7911,7921,7911,7931,7211,657

StoresRm81,2768969711 0341 0681 0921 1201 1451,1401,1421,1161,0911,1211,1201,1351,1331,1261,1331,1121,0981,1511,0621,0091,1041,0731,0761,0681,1021,0461,0771,0351,0651,0951,1081,0591,0341,0581,0521,0431,0369861,0611,0051,0259951,0851,0241,0401,0091,0401,0961,0841,0271,0951,0921,0521,0239699891,0469789509609359309539499468959428569019261,0348458859501,038936785686

Outsourced ServicesRm18,896382384298293293292292281280275271274275276278278277275273278251237255255251251253231230226229232233228226228227227226220229222225221231225226223226231231225232232227224219221227220217218215214217216216211216196208215241195205221242217182157

UtilitiesRm48,184436513547577590600608603608611610617613619607604615607604621606596619606611607619611640625635646650633624633631628625608634615622611642621627616627642642622646645631621602609629605596599590589597595594576593584594599621583591604622601570550

OtherRm33,336417369516519522524525429431428423417415419416414418413410423411402421412414412421415435424432440443430423430428426424411431416421413437421425417425437437421440439428421406412427409401404397396402401400387399392400404421391398408421405382367

Capital ExpenditureRm82,7861 1451 2911 5591 9521 5901 5621 3181,2861,2841,1721,3531,6561,7101,6611,5121,6221,3811,6311,3771,5211,2311,1001,0101,1291,0931,8411,0151,0249271,0839751,1909891,3831,1761,2781,0351,3681,0899539071,0691,2759729971,0901,0701,1391,0299259808889391,01696096398488685697985382884474571386194280373673773276264867565400000

Sustaining CapexRm62,4491 0301 0041 1351 3701 2371 2891 0668599198467897788338118158207858656977687467947547948731,6688668377438798161,0568631,2098449778311,2049478167638271,13783985792289391480077083274078779781781384573971075071368672062861967983970462562262457754557054500000

Growth CapexRm20,3361152874245823532742534273653265648788778496978035967666807534853062553352201731491871842051591341261743323012031631431371442421371331411681782252291541481481522191441491391471462281411421251179418210210011111610818610410510900000

NOW CapitalRm1162874245823532742534273162772993644672682011952593432482242081591612421156132438511346413437961254143514552151464149778613413661555559126515645545313547493224189971823159310121600000

SOW CapitalRm10,531-1000000049492645144105814966083384234325292771479593105112117144999111393921372371751631219191929191919291919193939393939393939393939393939393939393939393939393939300000

Financials

Gold PriceR599,562549,999550,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000600,000

RevenueRm671,3014,9685,3906,6827,3348,2199,2319,2739,3769,8809,8019,7309,4118,9989,5079,0538,9669,4358,8748,3919,3698,0037,4738,6687,7207,7578,1408,0977,9878,8008,7539,4699,7499,6478,5718,6969,1669,4819,5118,8608,1228,8757,9808,3868,3439,3759,0938,4107,4728,0849,6579,1517,95010,1379,1479,4948,5378,0488,2419,1988,5307,5267,7627,8277,6688,3818,5398,7017,3768,3647,7208,6318,2599,2217,3517,8447,3999,0997,6066,3256,008

SIB % of Opex%19%26%23%24%29%26%27%22%19%20%19%18%17%19%18%18%18%18%20%16%17%17%19%17%18%20%38%20%20%17%21%19%24%20%28%20%23%20%29%23%20%18%20%27%20%20%22%21%22%19%18%19%17%18%18%19%19%21%18%17%19%18%17%18%16%16%17%21%18%16%16%16%15%13%15%14%0%0%0%0%0%

Exchanbge RateR14.3715.5515.5514.2614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.3614.36

End

Slide Number 1AgendaA World Class Ore BodyA World Class Ore BodySlide Number 5A World Class Ore BodyA World Class Ore BodyA World Class Ore BodyA World Class Ore BodyA World Class Ore BodyA World Class Ore BodyA World Class Ore BodyMining MethodsA World Class Ore BodySlide Number 15A World Class Ore BodyOperational Strategy & ProgressSlide Number 18Slide Number 19Slide Number 20Slide Number 21Slide Number 22Slide Number 23Slide Number 24Slide Number 25Slide Number 26Rebase Plan Strategy and ObjectivesSlide Number 28Geotechnical Considerations & Mine Design CriteriaGeotechnical ConsiderationsGeotechnical ConsiderationsMine DesignMine DesignMine DesignMine DesignMine DesignGeotechnical ConsiderationsGeotechnical ConsiderationsMine Planning & Production ProfileMine PlanningMine PlanningMine Plan OutputsProduction PlanningSlide Number 44Slide Number 45Slide Number 46Production ProfileCapital InfrastructureBasic Ventilation and Refrigeration Infrastructure LayoutSlide Number 50Slide Number 51Capital Infrastructure Capital InfrastructureCapital InfrastructureCapital InfrastructureCapital InfrastructureCapital InfrastructureCapital InfrastructureRisksSlide Number 60FinancialFinancialsEnd

Documents

Gold Fields South Deep Rebase Plan · • 2016: Cash neutral Kloof Cooke 4 Cooke 1,2,3 . Driefontein . Mponeng DRD Kusasuleto . A World Class Ore Body . Regional geology\爀屲South