Gold Fields welcomes NERSA approval of South Deep Solar Plant

Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
JSE, NYSE, DIFX Share Code: GFI
ISIN Code: ZAE000018123
( “ G o l d   F i e l d s ” o r   “ t h e
C o m p a n y ” )


MEDIA RELEASE

   GOLD FIELDS WELCOMES NERSA APPROVAL
        OF SOUTH DEEP SOLAR PLANT

Johannesburg, 25 February 2021: Gold Fields Limited (Gold
Fields) (JSE, NYSE: GFI) welcomes the electricity generation licence
approved today by the National Energy Regulator of South Africa
(NERSA) for the construction of a 40MW solar power plant at its
South Deep mine.

The acting CEO of NERSA now has to authorise the license, a
decision that should be forthcoming over the next two weeks. All the
regulatory approvals to proceed with the project are then in place.

Gold Fields will update its definitive costings and finalise all the
required internal processes to commence the project as soon as
possible. The solar plant has the potential to provide around 20% of
South Deep’s average electricity consumption.

Says Nick Holland, Gold Fields’ CEO: “The solar power plant will
increase the reliability and affordability of power supply to South
Deep, ultimately enhancing the long-term sustainability of the mine.

“The approval of this licence sends a strong, positive message to
mining companies and their investors, potentially leading to
decisions being taken to sustain and grow mining operations in the
country, especially in deep-level, underground, marginal mines.
Enabling companies to generate their own power also gives Eskom
room to address operational issues at its power plants.”

Gold Fields’ energy objectives are based on four pillars – energy
must be reliable, available, cost-effective and clean – which promote
a shift to self-generation using renewable energy sources. “We are
fully committed to making our contribution towards net-zero
emissions,” says Holland.

During 2020, Gold Fields successfully implemented solar and wind
power plants, backed by battery storage, at two of its Australian
mines, Agnew and Granny Smith, and committed to renewables at
its other Australian mines, Gruyere and St Ives, as well as the



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^, P Mahanyele –Dabengwa, R P Menell. S P Reid^, Y G H Suleman
^Australian, †British, #Ghanaian, ** Executive Director
Company Secretary: A Weststrate
Salares Norte project in Chile when it starts operations in 2023. All its other mines are also reviewing
renewable energy options.
Since full commissioning of the Agnew microgrid, renewable electricity averages over 55% of total
supply at the mine. During 2020, renewable electricity averaged 8% for the Australia region and 3% of
total Group electricity. Once the South Deep project is commissioned, renewable’s contribution to the
Group total will rise to approximately 11%.
Holland says: “We expect our investment in renewable and low-carbon energy sources to contribute
significantly to our carbon emission reductions over the next few years. Power from the South Deep
solar plant will partially replace coal-fired electricity from Eskom, enabling us to significantly reduce our
Scope 2 carbon emissions.”

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 is a globally diversified gold producer with nine operating mines in Australia, Peru, South Africa and West Africa (including the
Asanko JV), as well as one project in Chile. We have total attributable annual gold-equivalent production of 2.2Moz, attributable gold-equivalent
Mineral Reserves of 51.3Moz and Mineral Resources of 115.7Moz. Our shares are listed on the Johannesburg Stock Exchange (JSE) and our
American depositary shares trade on the New York Stock Exchange (NYSE).

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

Date: 25-02-2021 05:06:00
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