Investor DayInvestor DayDecember 2011

Agenda

I. Opening Remarks Nick Holland Chief Executive Officer

II. Growth and International Projects Tommy McKeith EVP: Growth & International Projects

III. Technology & Innovation Tim Rowland EVP: Group Technical Service

Coffee break

ORegional Overviews

IV. South Africa Peter Turner EVP: South Africa Region

V. West Africa Peet van Schalkwyk EVP: West Africa Region

VI. Australasia Richard Weston EVP: Australasia Region

VII South America Juan Luis Kruger EVP: South America Region

Coffee break

VIII. Financial Overview Paul Schmidt Chief Financial Officer

IX Closing Remarks Nick Holland Chief Executive Officer g

Q & A

Lunch

2

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 those relating to the global economy and outlook; changes and forecasts of gross

domestic products; changes in legal, tax and other regulatory regimes; commodity prices; demand for gold and other metals and minerals; interest rate

expectations; exploration and production costs; levels of expected production; Gold Fields’ growth pipeline; levels and expected benefits of current and

l d it l dit f t d th i li ti l l d th t t f t ffi i i d i t bplanned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be

achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual

results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or

implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and

political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in

connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards

associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government

regulations, particularly taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates;

currency devaluations; the availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors,

industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational

health risks experienced by Gold Fields’ employees.

These forward looking statements speak only as of the date of this document. Gold Fields undertakes no obligation to update publicly or release any

revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of

unanticipated events.

3

Market Overview - The Macro Environment

Macro trends impacting the world todayShorter termShorter term

Financial Instability Sociopolitical Instability

Sustained market & currency volatility

Fiscal and political instabilityy y y

Natural disasters

Emerging Markets Sustainability Social Norms Advancing Technology

Growing influence and affluence

Robust demand for

Environmental concerns

Finite natural resources

I f t t

Changing demographics

Greater sense of social responsibility

Moore’s Law

Key enabler of other trendsRobust demand for commodities

Infrastructure gaps

Community activism

responsibility

Changing attitudes to work

L t

5

Longer term

Two-thirds of the global economy remains turbulent

RoW100%

World GDP by Growth Risk Level (2011 – 2012)

OtherBrazil

CanadaRussia

AustraliaSouth AfricaIndiaOther

80%

90%

Japan: Massive disruption and cost of major

China

Japan

United KingdomOther

60%

70%

China: Concerns over weakening demand resulting in slowing of economic growth

earthquake

Eurozone

China

40%

50%

Eurozone: Fall out from sovereign debt crisis

resulting in slowing of economic growth

USA

20%

30%

USA: Significant uncertainty on recovery with removal of monetary & fiscal stimulus package

0%

10%

Category 1

y p g

Highest risk Commodity contingent Lowest risk________________________

6

________________________Note: Chart based on 2010 US$ fixed exchange rateSource: International Monetary Fund, April 2011; Bain Analysis, May 2011

Future of the Eurozone now at risk

Sovereign debt crisis: Greece, Italy, Ireland, Spain %Eurozone Debt to GDP Ratio (%, 1991 – 2011E)

and Portugal

Emergency bailouts by the EU and IMF in return 80

90

100

Emergency bailouts by the EU and IMF in return

for implementing austerity measures 60

70

80

Ongoing fears of Greece defaulting led to the EU,

ECB and IMF announcing an emergency deal in 30

40

50

October 2011

Lack of trust in governments and fiat currencies10

20

30

0

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

E

7

____________________________________ Source: International Monetary Fund, World Economic Outlook Database, September 2011

Lackluster global growth underpinned by BRICS

Change in Real GDP (2007A – 2015E)

8%

10%

12%

4%

6%

8%

0%

2%

-6%

-4%

-2%

6%2007 2008 2009 2010 2011E 2012E 2013E 2014E 2015E

World USA EU 27 BRICS

8

___________________________Source: Economic Intelligence Unit - Nov 2011

Emerging markets expected to account for ~50% of world GDP in the next 20 years

100%

World GDP (nominal US$)

80%

90%

100%Argentina

Indonesia

50%

60%

70%Mexico

Saudi Arabia

20%

30%

40%Turkey

0%

10%

20%

2000 2010 2020E 2030E

*2020/2030 data covers 30 advanced and 51 emerging countries (including 14 High Risk markets)

2000 2010 2020E 2030E

Advanced BRICS Other G20 Emerging Other Emerging/High Risk

________________________________________________Note: 2000/2010 data includes total of 190 countries (34 advanced, 156 emerging including high risk/stalled markets)

2020/2030 d t 32 d d d 60 i t iNote: 2000/2010 data includes total of 157 countries (33 advanced, 124 emerging including high risk/stalled markets)Source: IMF (Oct 2009) for list of countries; EIU (Dec 2009 download) for GDP

9

2020/2030 data covers 32 advanced and 60 emerging countries Source: IMF (Oct 2009) for list of countries; EIU (Nov 2011 download) for GDP

Increased fiscal demands

South Africa Ghana Australia PeruSouth Africa Ghana Australia Peru

ANC exploring different

Government royalties increased

“Mineral Resource Rent Tax” on coal

New mining tax regime approved indifferent

possibilitiesroyalties increased to 5% in March 2011

Rent Tax on coal and iron ore (gold excluded)

regime approved in September 2011

Carbon tax Changes to tax Carbon tax to beCarbon tax expected in 2012/13

Changes to tax regime proposed in November 2011

Carbon tax to be applied July 2012*, moving towards carbon trading in 20152015

Pressure on taxes

10

_____________________________Note: *Fixed carbon tax of US$23.25/t on the top 500 polluters

Input cost pressures

Electricity Price Increases (2011 = 100) Commodity prices

900

1000Cumulative electricity price increases (2001 – 2012F)

500

600Indexed prices (2001=100)

500

600

700

800

300

400

500

200

300

400

500

200

300

0

100

200

001

002

003

004

005

006

007

008

009

010

11F 2F

0

100

001

002

003

004

005

006

007

008

009

010

011

___________________________________

20 20 20 20 20 20 20 20 20 20 201

201

South Africa Ghana Australia Peru20 20 20 20 20 20 20 20 20 20 20

Crude Oil Price Metals CRB Index

11

Note: Crude Oil Prices for West Texas Intermediate delivery to Cushing, TexasSource: Economist Intelligence Unit, International Energy Agency, Eskom website, Government of Western Australia website, Bloomberg

Social attitudes are changing dramatically

Copiapó:

Dramatic change of attitude to worker safety

p p33 rescued

Panama Canal:27,500 deaths

Growing demands for sustainabilityCommunity activism can stop mines

5 Earths needed to support developed-world lifestyle for all

12

Market Overview - The Gold Market

Strong demand for gold, driven by China and India

4 500 India China Other

Total gold demand by region (tonnes)

3 500

4 000

YTD

2 000

2 500

3 000YTD

1 000

1 500

0

500

2002 2003 2004 2005 2006 2007 2008 2009 2010 Q1-Q3 20112011

India & China% Total Demand

22% 23% 24% 26% 28% 30% 28% 29% 39% 46%

__________________Source: GFMS, World Gold Council

14

Growing EM affluence driving demand for gold jewellery

100% 80

Tonnage growth in jewellery (2010 vs 2009, % change)World GDP (nominal US$)

70%80%90%

100%

50

60

70

30%40%50%60%

20

30

40

0%10%20%30%

-10

0

10

2000 2010 2020E 2030E

AdvancedBRICSOther G20 Emerging

-30

-20

Indi

a

Chi

na

Rus

sia

Turk

ey

Viet

nam

Ara

bia

Egy

pt

UAE

Taiw

an

USA U

K

haila

nd

Italy

Japa

n

h K

orea

done

sia

____________________________________Note: 2020/2030 data covers 32 advanced and 60 emerging countries;

Other G20 EmergingOther Emerging/High Risk

V

Saud

i T

Th

Sou

th Ind

15

2000/2010 data includes total of 190 countries (34 advanced, 156 emerging including high risk/stalled markets)Source: World Gold Council, Gold Investment Digest Q1 2011; EIU (Nov 2011 download) for GDP

Central banks returning to net buyers

“Central banks, especially in emerging markets, have been diversifying their gold reserves. We would expect this to continue as gold can have a

Central bank net gold demand (tonnes)would expect this to continue as gold can have a positive impact on smoothing the risk-return profile of reserve portfolios.”

BofA, Sept 2011 200

400

“Gold is the ultimate safe haven, and many central banks are diversifying out of U S dollars and into-200

0

banks are diversifying out of U.S. dollars and into gold to protect their country’s wealth.”

Bullion Management Group, Aug 2011-400

200

“The motivation for European central banks to diversify out of gold into dollar-denominated

-800

-600

002

003

004

005

006

007

008

009

010

011 y g

assets has been negatively impacted by US fiscal and monetary policy.”

World Gold Council, Sept 2011

20 20 20 20 20 20 20 20 20

Q1-

Q3

20

16

, p__________________________Source: World Gold Council: Global Demand Trends, Gold Digest

Emerging economies still behind advanced economies in using gold as part of their reserves

Gold reserves a % of total reserves (30 September 2010)

40

30

20

10

0Advanced economies

Developing Asia Central and Eastern Europe

Middle East and North Africa

Sub-saharan Africa

Likely to fuel further demand for gold_______________________________

Source: World Gold Council: Global Demand Trends 2010

17

Three-fold increase in ETF volumes in 5 years

Cumulative quarterly total global ETF holdings (tonnes)

Small in relation to total global funds under management

q y g g ( )

2500

1500

2000

1000

500

02004 2005 2006 2007 2008 2009 2010 2011

18

__________________________Source: World Gold Council, Gold investment Digest

Fundamentals and sentiment supportive

Total gold demand 2010 (thousands of tonnes)

11%

9%2%

3.5

4.0

4.5 4.1

Continued purchases by Central banks

Continued growth in ETFs all investments in

28%

11%

2.5

3.0 Continued growth in ETFs, all investments in

gold only 1% of all assets under management

No sign of changes to technology demand

50%1.0

1.5

2.0 Continued growth of jewellery and personal

investment particularly in China & India50%

0.0

0.5

1.0

Underpinned by low interest rateJewellery Investment Technology ETFs Central Banks

Underpinned by low interest rate environment

19

________________________ Source: World Gold Council - Global Demand Trends Q2 2011

Primary gold supply struggles to meet this demand

____________________________________________________Note: *Mine production net of producer hedging; Supply excludes net central bank movements; Major producers includes: Barrick, Newmont, Newcrest, Gold Fields, AngloGold Ashanti, Kinross, p p g g pp y j p gHarmonySource: World Gold Council; Annual reports; Company presentations

20

World gold discovery trends

___________________________________1.Includes by-product gold; excludes brownfield discoveries; Source: GFL/MinEx Consultingy p g g2. 3 year rolling average; excludes deposits <1Mozs or where gold is a by-product representing less than <50% of revenue; Source: GFL/MinEx Consulting3. 3 year rolling average; in 2009 real dollars; based on all deposits >0.1 Moz; source: GFL/MinEx Consulting/MEG

21

Gold industry faced with rising costs

Peer Group Total Cash Outflow - US$/oz (quarterly Q1 2005 to Q3 2011) 1 600

O ti C it l Oth

1 200

1 400

Operating Capital Other

800

1 000

600

800

200

400

-Q1 2005 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011

____________________________________________Source: Company reports, Gold Fields research

22

1

Note: Operating = Operating costs + Corporate Costs + Exploration Costs + Royalties; Capital = All capital (ongoing + expansion capital); Other = Finance costs and other cash outflowsPeer group includes AngloGold, Barrick, Newmont, Kinross, Goldcorp, Gold Fields, Newcrest and Harmony

Industry average NCE for the Sept 2011 quarter US$1,371/oz

Peer group NCE quarter ending September 2011 (US$/oz)NCE

1 342 1,371 1,436

1,493 1,548

1,669

1 400

1 600

1 800 NCE

1,094 1,173 1,212

1,342 ,

1 000

1 200

1 400

600

800

0

200

400

______________________________________________Source: Company reports, J.P. Morgan estimates. Note: NCE = Operating costs excluding royalties plus capex expressed per ounce of gold produced. Newmont does not report royalty costs

0Company 1 Company 2 Gold Fields Company 3 Peer

averageCompany 4 Company 5 Company 6 Company 7

23

1

separately. Royalty costs stated here are J.P. Morgan estimates and actuals could differ.Peer group includes AngloGold, Barrick, Newmont, Kinross, Goldcorp, Newcrest and Harmony

Fundamentals for gold continue to be positive

US monetary base (YoY % change)1 Gold has regained its status as an asset

209%class

World monetary base likely to increase World monetary base likely to increase

further, creating room for future inflation

Physical demand for gold driven by growing

affluence in emerging economies

Continued uncertainty across world

economies should provide an underpin for

______________________________________________

gold

24

1

Source: Federal Reserve, Paulson & Co. as of November 2, 20111. YoY change until 9/10/08; cumulative from 9/10/08

Strategic Framework

To be the global leader in sustainable gold mining

25% NCE margin target for existing assetsO ti i Reserve replacement and growth

Business process re-engineering

Optimise Our Assets

5Moz in production or in development by 2015 Increase geographical diversification

N M&A H i i i hGrow No M&A Heroics – opportunistic approach Organic growth and exploration Growth in production per share and NCE margin per ounce

Grow Gold Fields

If we cannot mine safely, we will not mine Sustainable development integrated into the business modelSecure Sustainable development integrated into the business model Focus on people

Our Future

26

5Moz in production or in development by 2015

Continue to improve the quality of the portfolio as measured by NCE per ounce

DamangSuper pit

YanfolilaAPP FSE

5Moz in production

or in development

ChucapacaSuper-pit

South DeepC t B *

3.5Moz

Current Base*

2011 2015 Target______________________* Actual production 12 months to September 2011

27

Executive Team – Structured to deliver

Nick HollandChief Executive Officer

Jimmy DowsleyCorporate

Development

Paul SchmidtChief Financial

Officer

Michael FleischerGeneral Counsel

Peter TurnerSouth Africa

Zakira AmraInvestor Relations

& Corporate Affairs

Peet van SchalkwykWest Africa

Juan Luis Kruger Richard WestonKgabo MoabeloTim Rowland Naseem ChohanTommy McKeith Juan Luis Kruger South America

Richard WestonAustralasia

Kgabo MoabeloHuman

ResourcesGroup Technical

Services

Naseem ChohanSustainable

Development

EnablingGrowth Delivery

Tommy McKeithGrowth &

International Projects

28

Group Progress

Optimise our Operations: Achievements since 2008

Material infrastructure rehabilitation at South African operations p

Savings from Business Process Re-engineering

Owner mining conversion and contractor rationalisation

NCE margin target of 25%*g g

Replacing and growing reserves at international operations

Increase focus on attracting, retaining and developing people

“Fit for purpose” regional structure implementedp p g p

Elimination of royalty in Australia

30

__________________________* NCE margin target of 25% in the medium to long term

NCE margin of 29% in Q3 2011 exceeds target Cost containment allowing the higher gold price to be delivered to the bottom line

US$/oz

291600

1800US$/oz

Gold Price Total Cash Cost NCE

29%

21%1200

140029%

21%

800

1000

400

600

Jun 2008

Sep 2008

Dec 2008

Mar 2009

Jun 2009

Sep 2009

Dec 2009

Mar 2010

Jun 2010

Sep 2010

Dec 2010

Mar 2011

Jun 2011

Sep 2011

31

__________________________Data points are per quarter

Replacing and growing reserves at international operations

Overall discovery cost of ~US$33/oz

3522.5Moz

Exploration1(15.3)MozTotal mined

Moz

30

Exploration Total minedInvested in exploration: US$752m

20

25

9 0Moz

16.5MozDec ‘10

Attributable Reserves

N = 13N = 13N = 6N = 610

159.0Moz

TotalAcquired

2.1MozJ ’99

(1.8)MozDivested

N = 5

3

N = 5N = 5

N 6N 6

0

5

Jun ’99Attributable Reserves

0

B 1 C t 2 C t 3 C t 4 C t 5 C t 6TarkwaSt IvesAgnew

DamangC C

Tarkwa

32

_____________________________________1. Includes discovery and model changes (through better geological understanding and gold price change)

Cerro Corona

Grow Gold Fields: Achievements since 2008

Growing international portfolio and profitability

Creating a more geographically balanced portfolio

Develop a growth pipeline in support of the target of 5Moz1

Minority buy-outs in Ghana2 and Peru3

Option to acquire 60% interest in Far Southeast (Philippines)

Glencar acquisition (Mali)

Deliver South Deep Project

_____________________________________1.Five million ounces in production or in development

33

2.Gold Fields ownership: 90% 3.Gold Fields interest: 98.5%

Improving size & profitability of international portfolio

45%2 000

‘000 ounces

30%

35%

40%

1 400

1 600

1 800

20%

25%

30%

1 000

1 200

1 400

10%

15%

600

800

-5%

0%

5%

0

200

400

_____________________________________________

5%02008 2009 2010 2011 nine months

annualised

International production (LHS) International NCE Margin (RHS)*

34

* Attributable gold equivalent productionNote: NCE margin is calculated on a managed basis

Gold Fields determined to offset decline in South African production

South African gold industry production1

(2008 – 2010) Gold Fields Production2 (2008 – 2011)

‘000 ounces ‘000 ounces

5 800

6 000

3 500

4 000 South Africa International

5 600 2 500

3 000

5 200

5 400

1 500

2 000

5 000 500

1 000

4 800 2008 2009 2010

-2008 2009 2010

_____________________________________________1. Chart shows South African production and average grade of gold producing members of the Chamber of Mines of South Africa

35

Source: Chamber of Mines South Africa, Facts & Figures 2010 2. Gold Fields attributable gold equivalent production (calendar years)

Increasing international diversification

2008 Production1 9 months to Sept 2011 Production1 2015 Production Target2

20%2% 18%19%

40%

20%

20%

62%18%

2% 18%

49%

21%

11%

20%

South Africa West Africa Australia South America

21%

2015 Production Target2

South Africa Region Australasia Region West Africa Region South America Region

~ 2 Moz ~ 1 Moz ~ 1 Moz ~ 1 Moz

______________________________________________________

36

1. Attributable gold equivalent ounces 2. Five million ounces in production or in development

2008 Project Portfolio

Arctic Platinum Project

Finland

Project

Yanfolila

Mali

South Africa

South Deep

Producing Asset Development Project

37

2011 Project Portfolio

Strong growth pipeline to support target of 5Moz# by 2015

Arctic PlatinumPre-Feasibility• 12Moz 2PGE + Au

resource• Scoping Study

confirms Platsol®process

• Exploration and amenability in 2012

Yanfolila Drilling• Potential for 200kozpa

starter project• Scoping study

Mali

Finland

Scoping study determined optimal project requires >1.5Moz

• Large land package

C

Far Southeast Project Drilling• Large high-grade gold-copper

porph r

Philippines

Chucapaca JV Feasibility• 7.6Moz Aueq resource• 100,000m drilling completed • Feasibility study underway• Development decision H2

South Deep Construction• Build-up to 700kozpa

run-rate underway• Construction schedule

on-track

porphyry• Targeting 52 Mozeq^

• 8 drill rigs operating• Scoping study underway

Damang Super pit

Peru

South Africap

2012• Large land holding in highly

prospective region

Damang Super-pit Pre-Feasibility• Super-pit targeting

4Moz*

• Pre-feasibility H1 2012

GhanaGhana

Producing Asset Development Project

______________________________________________________________# Five million ounces in production or in development by 2015

38

p p y* Refer to the Exploration Target Statement for the Damang Superpit Project in the Appendix^ Refer to the Exploration Target Statement for the Far Southeast Project in the Appendix

Secure Our Future: Achievements & Awards

If we cannot mine safely, we will not mine

Old d i l i ht f ll S th Af i i t d t N O d

Old order mineral rights of all South African mines converted to New Order Mining rights

Implementing an integrated sustainable development frameworkp g g p

Joint 1st in Ernst & Young’s Excellence in Financial Reporting for 2010 IAR1

Joint 1st among JSE companies in the Carbon Disclosure Leadership Index

Top BRICS 300 compan 2 in terms of CO emission disclos reTop BRICS 300 company2 in terms of CO2-emission disclosure

Winner – Best Open Pit Operation in Peru (Institute of Mining Safety)

Gold Fields Ghana awarded the Global Business Action on Health Award from the Global Business Coalition

39

______________________________________________________1. IAR – Integrated Annual Report2. Recognised by the UK Environmental Investment Organisation

Safety - Our top priority

If we cannot mine safely, we will not mine

Engineering out RiskSouth Africa Fatalities Engineering out risk Roof bolting, netting and support

Pre-conditioning of stope faces

Centralised blastingCentralised blasting

State of the art seismic monitoring system

Auto couplers on locomotives

P i it d t ti d i i il t h

43

Proximity detection devices in pilot phase

Improve guard communication systems for locomotives

Mechanised ore reserve developmentBehavioral ChangeBehavioural change

18

Increased extent and frequency of auditing

Supervisory training

On the job coaching

2008 2011 YTD

On-the-job coaching

Visible felt leadership

24 Hours in the Life of a Gold Fields Employee*

40

__________________________* Fatalities for FY2008

Secure Our Future

Energy reduction best proxy for carbon reduction

Methane gas flare at the Beatrix mine

Beatrix Methane Project registered by United Nations

Framework Convention on Climate Change (UNFCCC) as a

carbon credit projectp j

Numerous energy efficiency projects rolled out in partnership

with Eskom Demand Side Management

World Gold Council conflict-free gold standards piloted in

South Africa and Ghana Regions

Carbon Management plans piloted in South Africa and

Australia Regions

41