GFI 201707270015A
Trading statement for six months to 30 June 2017

Gold Fields Limited
Reg. No. 1968/004880/06)
Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123


MEDIA RELEASE

Trading statement for six months to 30 June 2017

Johannesburg, 27 July 2017: Gold Fields Limited (Gold Fields)
(JSE, NYSE: GFI) advises that earnings per share (EPS) for the six
months ended 30 June 2017 (H1 2017) are expected to be 43-57%
(US$0.06-0.08) lower than the US$0.14 per share reported for the
six months ended 30 June 2016 (H1 2016), at US$0.06-0.08 per
share. Headline earnings per share (HEPS) for H1 2017 are
expected to be 38-50% (US$0.06-0.08) lower than the US$0.16 per
share reported for H1 2016, at US$0.08-0.10 per share.

In addition, normalised earnings for the period are expected to be
15-31% (US$0.02-0.04) lower than the US$0.13 per share reported
for H1 2016 at US$0.09-0.11 per share.

The decreases in EPS, HEPS and normalised earnings are mainly
due to the impact of stronger exchange rates on converting local
currency costs to US dollars and an increase in amortisation. The
higher amortisation relates mainly to Tarkwa as a result of lower
reserve ounces (as reported on 28 March 2017) and an increase in
ore mined and stockpiled. In addition, EPS and HEPS are impacted
by non-recurring items, including the silicosis provision as detailed
below.

Attributable gold equivalent production for Q2 2017 is expected to be
550koz (Q1 2017: 497koz), with all-in sustaining costs (AISC) of
US$949/oz (Q1 2017: US$1,016/oz) and all-in costs (AIC) of
US$1,092/oz (Q1 2017: US$1,114/oz).

For H1 2017, attributable gold equivalent production is expected to
be 1,047koz (H1 2016: 1,044koz), with AISC of US$980/oz (H1
2016: US$992/oz) and AIC of US$1,103/oz (H1 2016: US$1,024/oz).

Silicosis provision
Silicosis and TB class and individual actions




Directors: C A Carolus (Chair), N J Holland†** (Chief Executive Officer), P A Schmidt** (Chief Financial Officer), A Andani #, P J Bacchus†,
T P Goodlace, C E Letton^, R P Menell, D M J Ncube, S P Reid^, Y G H Suleman
^Australian, †British, #Ghanaian, ** Executive Director
Company Secretary: MML Mokoka
As previously disclosed, a consolidated application was brought against several South African mining
companies, including Gold Fields, for certification of a class action on behalf of current or former
mineworkers (and their dependents) who have allegedly contracted silicosis and/or tuberculosis while
working for one or more of the mining companies listed in the application.

In May 2016, the South African South Gauteng High Court ordered, among other things: (1) the
certification of two classes: (a) a silicosis class; and (b) a tuberculosis class; and (2) that the common
law be developed to provide that, where a claimant commences suing for general damages and
subsequently dies before close of pleadings, the claim for general damages will transmit to the estate
of the deceased claimant. The High Court ruling did not represent a ruling on the merits of the cases
brought against the mining companies. The Supreme Court of Appeal granted the mining companies
leave to appeal against all aspects of the May 2016 judgement. The appeal hearing before the
Supreme Court of Appeal is scheduled to be heard between 19 and 23 March 2018.

In addition to the class action, an individual silicosis-related action has been instituted against Gold
Fields and one other mining company. Gold Fields is proceeding with trial preparation in the normal
course.

Working Group

The Occupational Lung Disease Working Group was formed in fiscal 2014 to address issues relating to
compensation and medical care for occupational lung disease in the South African gold mining
industry. The Working Group, made up of African Rainbow Minerals, Anglo American SA, AngloGold
Ashanti, Gold Fields, Harmony and Sibanye Gold, has had extensive engagements with a wide range
of stakeholders since its formation, including government, organised labour, other mining companies
and the legal representatives of claimants who have filed legal actions against the companies.

The Working Group, remains of the view that achieving a comprehensive settlement which is both fair
to past, present and future employees and sustainable for the sector, is preferable to protracted
litigation.

The members of the Working Group are among respondent companies in a number of legal
proceedings related to occupational lung disease, including the class action referred to above. These
companies do not believe that they are liable in respect of the claims brought, and they are defending
these. The companies do, however, believe that they should work together to seek a solution to this
South African mining industry legacy issue. The Working Group will continue with its efforts to find
common ground with all stakeholders, including government, labour and the claimants’ legal
representatives.

Provision raised

As a result of the ongoing work of the Working Group and engagements with affected stakeholders
since 31 December 2016, it has now become possible for Gold Fields to reasonably estimate its share
of the estimated cost in relation to the Working Group of a possible settlement of the class action
claims and related costs. As a result, Gold Fields has provided an amount of US$30.2m (R390m) for
this obligation in the Statement of Financial Position as at 30 June 2017. The nominal value of this
provision is US$39.5m (R509m). The ultimate outcome of these matters remains uncertain, with a
possible failure to reach a settlement or to obtain the requisite court approval for a potential settlement.
The provision is consequently subject to adjustment in the future, depending on the progress of the
Working Group discussions, stakeholder engagements and the ongoing legal proceedings.

The forecast financial information on which this trading statement is based has not been reviewed, and
reported on, by the Company’s external auditors.
Gold Fields will release H1 2017 financial results on Thursday, 17 August 2017.

Enquiries

Investors

Avishkar Nagaser
Tel: +27 11 562-9775
Mobile: +27 82 312 8692
Email : Avishkar.Nagaser@goldfields.com

Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com

Media

Sven Lunsche
Tel: +27 11 562-9763
Mobile: +27 83 260 9279
Email : Sven.Lunsche@goldfields.com

                                                                 ends

Notes to editors

About Gold Fields

Gold Fields Limited is a globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa with
attributable annual gold-equivalent production of approximately 2.2 million ounces. It has attributable gold Mineral Reserves of around 48
million ounces and gold Mineral Resources of around 101 million ounces. Attributable copper Mineral Reserves total 454 million pounds and
Mineral Resources 5,813 million pounds. Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) Limited, with
secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SWX).

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

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