Thursday, 20th August 2015
Q2 ended 30 June 2015 Unaudited Results

Gold Fields Limited
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code: GFI
Issuer code: GOGOF
ISIN - ZAE 000018123

Q2 ended 30 June 2015
Unaudited Results

SALIENT FEATURES

- US$1,029
per ounce
All-in-sustaining costs

- US$1,059
per ounce
All-in-costs

- 535,000
ounces
of attributable gold production

- US$30 million
cash inflow
from operating activities*

- 3-year wage deal
concluded at
South Deep

Note: *Cash flow from operating activities less net capital
expenditure and environmental payments

Cash positive despite the lower gold price

JOHANNESBURG. 20 AUGUST 2015

Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings attributable to our
shareholders of US$12 million for the June 2015 quarter compared with net losses of US$14
million in the March 2014 quarter and net earnings of US$19 million in the June 2014 quarter.
Normalised earnings of US$22 million for the June 2015 quarter compared with normalised
losses of US$13 million in the March 2014 quarter and normalised earnings of US$25 million in
the June 2014 quarter.

Interim dividend of 4 SA cents per share is payable on 14 September 2015.

Statement by Nick Holland,
Chief Executive Officer of Gold Fields

Gold price falls in recent weeks

While the fall in the gold price in recent
weeks is of deep concern, we do not believe
that Gold Fields needs to make structural
changes to our business at this juncture.
Currency weakness provides us with some
respite, resulting in the A$ and Rand gold
prices remaining at favourable levels. While
Cerro Corona benefits to a much smaller
extent from currency weakness, the mine is
one of the lowest cost producers in the
industry and can thus withstand prices lower
than current levels. Our Ghanaian operations
are most exposed to changes in the US$ gold
price, however, Tarkwa is a low cost mine
that still makes a margin at the current price
and Damang is, in any event, being targeted
for reinvestment to unlock value in its
resource base.

Many of the more painful adjustments were
already made in 2012 and 2013, at which
point we structured the business to deliver a
free cash-flow margin of 15% at a gold price
of US$1,300/oz.

This translates roughly to an all-in cost
breakeven level of US$1,050/oz. We remain
firmly focused on delivering on our plans in
terms of both cost and production in this
lower gold price environment, and we will not
divert our attention from the non-negotiables
encompassed in our values, including safety,
health, environmental stewardship and
stakeholder engagement.

US$59m swing in net cash flow

After a planned slower start to the year in the
March 2015 quarter due to mine production
scheduling, we had a much improved June
2015 quarter. Attributable gold equivalent
production for the quarter was up 7% quarter
on quarter to 535koz (Q1 2015: 501koz) with
all-in sustaining costs (AISC) 10% lower
quarter on quarter at US$1,029/oz (Q1 2015:
US$1,143/oz) and all-in costs (AIC) 9% lower
at US$1,059/oz (Q1 2015: US$1,164/oz).
Tarkwa, Cerro Corona and Granny Smith
were the star performers in the quarter.

Regrettably there was a fatal accident at
South Deep during the quarter. The mine was
negatively impacted by the related stoppages
as well as management induced 'stop and fix'
interventions. However, there was a marked
improvement in production in the June month
(477 kilograms produced) and there are
positive trends that emerged through the
quarter, specifically in the rates of ore
production, de-stress mining and new mine
development.

Encouragingly, despite the slightly lower gold
price in the quarter, there was a US$59 million
swing in net cash flow from an outflow of
US$29 million in Q1 2015 to an inflow of
US$30 million in Q2 2015.

Normalised earnings for the period were US$22 million, a turnaround
from a normalised loss of US$13 million in the March 2015 quarter.

We maintain our full year production guidance of around 2.2Moz,
however, production at South Deep is now expected to be
approximately 6,500kg (previously 7,100kg), principally due to a
deliberate focus to fix the base for a sustainable long-term future.
The lower production at South Deep is offset by better than expected
performance at Tarkwa, St Ives, Granny Smith and Cerro Corona.
Cost guidance for the 2015 year of AISC of US$1,055/oz and AIC of
US$1,075/oz remains unchanged.

Green shoots starting to emerge at South Deep

After a difficult 2014 and the introduction of a new management team,
we took the decision at the start of 2015 to take a step back and 'get
the basics right' at South Deep to ensure a stronger foundation for
sustainable growth in the future. The first six months of the year have
come with its own challenges as the new management team has
adopted a strategy of embedding an improved safety and productivity
culture as it sets the mine up for the long-term. Notwithstanding,
production for Q2 2015 was 7% higher approximately at 1,203
kilograms (39koz), despite numerous safety related stoppages.
However, we are starting to see some positive trends with momentum
in key mining metrics increasing in June and July.

While we have reduced our 2015 production target for South Deep to
approximately 6,500 kilograms, we maintain our aspiration of
achieving cash breakeven by the end of 2016. The improvement in
production in the second half of 2015 is expected to be driven by an
increase in the contribution from large volume long hole stoping and
the introduction of new fleet, which was already factored into our
capital forecast at approximately R1billion for the year. The new fleet
will increase the complement of category I equipment (rigs, loaders
and trucks) by a third. These new additions will meaningfully increase
equipment availabilities.

We have previously said that 2015 at South Deep is more about the
inputs than the outputs and have undertaken to provide a 'progress
report' on the inputs. In broad terms, we have identified three focus
areas at South Deep: people, fleet and mining method.

People: To augment the current skills base, we have identified the
need for an additional 160 skilled employees across all levels
including front-line supervision, with approximately 75% having been
recruited by the end of June. Most of the remaining hires are on the
engineering side and we expect to have the majority in place by the
end of this year. The other positive development on the labour front
was the signing of the three-year wage deal until March 2018, as
previously reported, which should give South Deep a degree of
stability as the mine builds up.

Fleet: A review of the fleet at the mine necessitated the acquisition of
an additional 27 pieces of category I equipment, in addition to the 75
pieces in service, of which seven are to be scrapped. The majority of
the new equipment (approximately 85%) is expected to be operational
by the end of Q3 2015, with the remainder planned before year-end.
Maintenance continues to be the bottleneck impacting the availability
of the fleet, with a comprehensive planned maintenance strategy
being developed. During Q2 2015, we took the decision to outsource
the maintenance of the fleet in corridor 2 to Sandvik (the equipment
manufacturer). This will be fully implemented by November 2015 and
should provide much needed skills transfer. Approximately 35% of
ore production is sourced from this corridor. In addition, the new 93-
level workshop, with improved facilities and excess capacity, is
expected to be fully operational for the 2 west and 3 west corridors by
end-October 2015.

Mining method: The complexity and interdependence of the various
elements of the mining method should not be underestimated,
however, progress is being made on the different components.

- De-stress mining - one of the key constraints to de-stress mining
has been support installation. At the end of June, eight additional
support crews were deployed, which should debottleneck
constraints in de-stress mining leading to a better last six months
in 2015.
- Ripping/sliping of de-stress ends - a trial to convert footwall
ripping to hangingwall ripping in order to improve efficiencies is
expected to conclude in Q3 2015.
- Secondary support - introduction of dedicated crews responsible
for secondary support installation and moving from only day shift
to both day and night shifts as well as a change in the shift roster
(an additional eight shifts per month). In addition, the number of
rigs has increased from five in June to eight in August. All of
these changes are planned to result in an increase in the rate of
support installation.
- Backfill - backfill production increased from approximately 40kt
per month at the start of the March 2015 quarter to approximately
80kt per month towards the end of the June 2015 quarter which
was the highest seen in 24 months. This was achieved through
the commissioning of the Full Plant Tailings (FPT) backfill plant.
This situation will be further improved through the conversion
from mechanical to hydraulic mining of surface tailings which is
expected to commence at the end of August. The mining of
surface tailings is profitable and is a source of additional backfill
until underground volumes increase.

Strong quarter for Australia

Despite the 3% approximately reduction in production to 235koz, the
Australian region had a strong June quarter, performing ahead of
plan. AIC increased by 3% quarter on quarter to US$1,008/oz.
Granny Smith was the standout performer in the quarter. The region
generated net cash flow of US$40 million, with approximately 80% of
the Yilgarn South acquisition paid back by the end of the quarter (in
seven quarters).

Production at St Ives was higher than anticipated despite interruptions
at the Hamlet underground mine due to paste line refurbishments.
The development of the new, high-grade Invincible pit progressed
ahead of schedule in the quarter.

Agnew had a challenging quarter mainly due to lower grades mined at
the Kim lode of the Waroonga underground mine related to
geotechnical constraints in the high grade areas. Remedial action
following a full geotechnical review is currently underway.
Fortunately, we do not expect to see any significant sterilisation of
gold production that was in our plan. However, required rehabilitation
of stopes as part of the remedial action means we will mine the Kim
lode a little slower than planned.

Granny Smith had a good quarter, with lower tonnage more than
offset by higher grade, resulting in gold production of 75koz. The
mine achieved a FCF margin of 28% in Q2 2015.

Darlot returned to breakeven in Q2 2015, with the mine having
achieved its budgeted AISC. In addition, there were some
encouraging exploration results during the quarter, indicating lateral
and vertical extensions of the Centenary ore body.

Ghana boosted by Tarkwa - record processed
tonnage through the CIL plant

The region performed very well in Q2 2015, especially Tarkwa, which
met all its KPIs for the quarter. Attributable gold production in the
region increased 13% quarter on quarter to 178koz with AIC
decreasing by 21% quarter on quarter to US$1,029/oz on the back of
higher gold sold and lower capital expenditure.

It was a standout quarter for Tarkwa, with production of 156koz at AIC
of US$938/oz. The CIL plant has had 10 consecutive quarters of
record production, with Q2 2015 having the highest level of
throughput ever.

Production at Damang increased by 6% quarter on quarter to 42koz.
Notwithstanding this improvement, we continue to focus on improving
the long-term profile and longevity of Damang. In order to increase
mining flexibility and optionality, plans are being formulated to
increase capital development to expose higher grade ore principally in
the Saddle area (part of the greater Damang pit) and to increase
exploration activities on numerous targets over a mineralised trend of
some 17km.

Strong recovery from Peru

Cerro Corona had a much improved quarter, with gold equivalent
production increasing 26% quarter on quarter to 84koz on the back of
higher gold and copper grades. AIC were marginally lower quarter on
quarter at US$662 per equivalent ounce. The mine generated US$24
million of net cash flow during the quarter.

Net debt marginally lower

Mainly due to the increase in the cash inflow from operating activities
from US$150 million in the March 2015 quarter to US$191 million in
the June 2015 quarter, the net debt balance decreased by US$22
million from US$1,499 million at the end of March 2015 to US$1,477
million at the end of June 2015. Net debt to EBITDA at the end of the
quarter was 1.44x, compared to 1.41x at the end of Q1 2015,
comfortably within our debt covenants. We have no debt maturities
before November 2017, providing liquidity to the Group.

Dividend

In line with our dividend policy to pay out a dividend of between 25%
and 35% of normalised earnings, we have declared an interim
dividend of 4 SA cents per share, which is at the upper end of the
payout range.

Woodjam Project Disposal

In line with our strategy of disposing of non-core assets, Gold Fields
reached an agreement with its partner, Consolidated Woodjam
Copper Corporation, to sell its 51 per cent interest in the Woodjam
copper-gold-molybdenum projects located in British Columbia,
Canada. Gold Fields will be issued with new Woodjam Copper shares
to take its aggregate holding in Woodjam Copper to 19.9 per cent,
and Gold Fields will retain a 2 per cent Net Smelter Return Royalty
(NSR) over all unencumbered land owned by Woodjam Copper.

Stock data NYSE - (GFI)
Number of shares in issue Range - Quarter US$3.07 - US$4.62
- at end June 2015 774,797,875 Average Volume - Quarter 4,109,483 shares/day
- average for the quarter 774,747,163
Free Float 100 per cent JSE Limited - (GFI)
ADR Ratio 1:1 Range - Quarter ZAR37.64 - ZAR54.65
Bloomberg/Reuters GFISJ/GFLJ.J Average Volume - Quarter 2,176,534 shares/day

UNITED STATES DOLLARS

Quarter Six months to

June March June June June
Key Statistics 2015 2015 2014 2015 2014
Gold produced* oz (000) 535 501 548 1,036 1,105
Tonnes milled/treated 000 8,160 8,173 8,104 16,333 16,981
Revenue $/oz 1,174 1,198 1,275 1,186 1,279
Operating costs $/tonne 44 44 52 44 50
Operating profit $m 278 244 311 522 603
All-in sustaining costs# $/oz 1,029 1,143 1,050 1,083 1,058
Total all-in cost# $/oz 1,059 1,164 1,093 1,108 1,104
Net profit/(loss) $m 12 (14) 19 (2) 19
Net profit/(loss) US c.p.s. 2 (2) 2 - 2
Headline earnings/(loss) $m 19 (14) 18 5 22
Headline earnings/(loss) US c.p.s. 3 (2) 2 1 3
Normalised earnings/(loss) $m 22 (13) 25 8 45
Normalised earnings/(loss) US c.p.s. 3 (2) 3 1 6

* All of the key statistics are managed figures from continuing operations, except for gold produced which is attributable equivalent production.
# As per the new World Gold Council Standard issued on 27 June 2013. Refer to page 22 and 23.
All operations are wholly owned except for Tarkwa and Damang in Ghana (90.0 per cent) and Cerro Corona in Peru (99.5 per cent).
Gold produced (and sold) throughout this report includes copper gold equivalents of approximately 7 per cent of Group production.
Figures may not add as they are rounded independently.

Certain forward looking statements
This report contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended, or the Exchange Act, with respect to Gold Fields' financial condition, results of operations, business strategies, operating efficiencies,
competitive position, growth opportunities for existing services, plans and objectives of management, markets for stock and other matters.

These forward-looking statements, including, among others, those relating to the future business prospects, revenues and income of Gold Fields, wherever they may occur in this report
and the exhibits to the report, are necessarily estimates reflecting the best judgment of the senior management of Gold Fields and involve a number of risks and uncertainties that could
cause actual results to differ materially from those suggested by the forward-looking statements. As a consequence, these forward-looking statements should be considered in light of
various important factors, including those set forth in this report. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-
looking statements include, without limitation:

- overall economic and business conditions in South Africa, Ghana, Australia, Peru and elsewhere;
- changes in assumptions underlying Gold Fields' mineral reserve estimates;
- the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions;
- the ability to achieve anticipated cost savings at existing operations;
- the success of the Group's business strategy, development activities and other initiatives;
- the ability of the Group to comply with requirements that it operate in a sustainable manner and provide benefits to affected communities;
- decreases in the market price of gold or copper;
- the occurrence of hazards associated with underground and surface gold mining or contagious diseases at Gold Field's operations;
- the occurrence of work stoppages related to health and safety incidents;
- loss of senior management or inability to hire or retain employees;
- fluctuations in exchange rates, currency devaluations and other macroeconomic monetary policies;
- the occurrence of labour disruptions and industrial actions;
- power cost increases as well as power stoppages, fluctuations and usage constraints;
- supply chain shortages and increases in the prices of production imports;
- the ability to manage and maintain access to current and future sources of liquidity, capital and credit, including the terms and conditions of Gold Fields' facilities and Gold Fields' overall
cost of funding;
- the adequacy of the Group's insurance coverage;
- the manner, amount and timing of capital expenditures made by Gold Fields on both existing and new mines, mining projects, exploration project or other initiatives;
- changes in relevant government regulations, particularly labour, environmental, tax, royalty, health and safety, water, regulations and potential new legislation affecting mining and
mineral rights;
- fraud, bribery or corruption at Gold Field's operations that leads to censure, penalties or negative reputational impacts; and
- political instability in South Africa, Ghana, Peru or regionally in Africa or South America.

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 report or to
reflect the occurrence of unanticipated events.

Results for the Group

SAFETY

The Group's fatality injury frequency rate remained at 0.08 in the June
quarter due to a tramming related fatal accident at South Deep on 9
May 2015. Our deepest sympathy and condolences were extended to
the family, friends and colleagues of Mr Alberto Chiungo. The total
recordable injury frequency rate (TRIFR)1 for the Group in the June
quarter was 3.00 compared with 4.04 in the March quarter.

1 Total Recordable Injury Frequency rate (TRIFR). (TRIFR) = (Fatalities + Lost Time Injuries 2 +
Restricted Work Injuries3 + Medically Treated Injuries4) x 1,000,000/number of man-hours worked.
2 A Lost Time Injury (LTI) is a work-related injury resulting in the employee or contractor being unable
to attend work for a period of one or more days after the day of the injury. The employee or contractor
is unable to perform any functions.
3 A Restricted Work Injury (RWI) is a work-related injury sustained by an employee or contractor which
results in the employee or contractor being unable to perform one or more of their routine functions for
a full working day, from the day after the injury occurred. The employee or contractor can still perform
some of his duties.
4 A Medically Treated Injury (MTI) is a work-related injury sustained by an employee or contractor
which does not incapacitate that employee and who, after having received medical treatment, is
deemed fit to immediately resume his/her normal duties on the next calendar day, immediately
following the treatment/re-treatment.

Quarter ended 30 June 2015 compared with quarter
ended 31 March 2015

REVENUE

Attributable equivalent gold production increased by 7 per cent from
501,300 ounces in the March quarter to 534,700 ounces in the June
quarter. All of the operations except St Ives and Agnew/Lawlers
produced more gold in the June quarter.

Gold production at South Deep in South Africa, increased by 7 per cent
from 1,129 kilograms (36,300 ounces) to 1,203 kilograms (38,700
ounces).

Attributable gold production at the West African operations increased
by 13 per cent from 157,300 ounces in the March quarter to 177,800
ounces in the June quarter. Attributable equivalent gold production at
Cerro Corona in Peru increased by 25 per cent from 66,300 ounces in
the March quarter to 83,200 ounces in the June quarter. Gold
production at the Australian operations decreased by 3 per cent from
241,400 ounces in the March quarter to 235,000 ounces in the June
quarter due to lower production at St Ives and Agnew/Lawlers.

At the South Africa region, production at South Deep increased by 7
per cent from 1,129 kilograms (36,300 ounces) in the March quarter to
1,203 kilograms (38,700 ounces) in the June quarter despite being
negatively impacted by a fatal accident in May 2015. Production was
also affected by continued stop and fix initiatives to improve both
working conditions and safety. This is evident by a significant
improvement in safety performance (TRIFR) from 3.03 year to date
June 2015 versus 5.10 in the six months to December 2014.

At the West Africa region, managed gold production at Tarkwa
increased by 15 per cent from 135,800 ounces in the March quarter to
156,200 ounces in the June quarter mainly due to higher grades mined
and processed. At Damang, managed gold production increased by 6
per cent from 39,000 ounces in the March quarter to 41,500 ounces in
the June quarter mainly due to higher tonnes processed.

At the South America region, total managed gold equivalent production
at Cerro Corona increased by 26 per cent from 66,600 ounces in the
March quarter to 83,600 ounces in the June quarter. This increase was
mainly due to higher gold and copper head grades.

At the Australia region, St Ives' gold production decreased by 10 per
cent from 98,700 ounces in the March quarter to 89,200 ounces in the
June quarter mainly due to lower throughput relating to completion of
processing of Neptune stockpiles, partially offset by higher grade. At
Agnew/Lawlers, gold production decreased by 10 per cent from 59,600
ounces in the March quarter to 53,800 ounces in the June quarter
mainly due to lower grades mined and processed. At Darlot, gold
production increased by 55 per cent from 11,200 ounces in the March
quarter to 17,400 ounces in the June quarter mainly due to higher
tonnes mined and processed as well as higher grade. At Granny
Smith, gold production increased by 4 per cent from 72,000 ounces in
the March quarter to 74,600 ounces in the June quarter due to higher
volumes and grades mined.

The average quarterly US dollar gold price achieved by the Group
decreased by 2 per cent from US$1,198 per equivalent ounce in the
March quarter to US$1,174 per equivalent ounce in the June quarter.
The average rand gold price increased by 1 per cent from R457,031
per kilogram to R463,082 per kilogram. The average Australian dollar
gold price decreased by 1 per cent from A$1,550 per ounce to A$1,527
per ounce. The average US dollar gold price for the Ghanaian
operations decreased by 2 per cent from US$1,218 per ounce in the
March quarter to US$1,196 per ounce in the June quarter. The
average US dollar gold price, net of treatment and refining charges, for
Cerro Corona increased by 6 per cent from US$1,021 per equivalent
ounce in the March quarter to US$1,083 per equivalent ounce in the
June quarter. The average US dollar/Rand exchange rate weakened by
3 per cent from R11.71 in the March quarter to R12.06 in the June
quarter. The average Australian/US dollar exchange rate weakened by
1 per cent from A$1.00 = US$0.79 to A$1.00 = US$0.78.

Revenue increased by 8 per cent from US$610 million in the March
quarter to US$660 million in the June quarter due to higher gold sold,
partially offset by the lower gold price achieved. Equivalent gold sold
increased by 10 per cent from 508,900 ounces in the March quarter to
562,100 ounces in the June quarter. This was mainly due to 34,400
more equivalent ounces sold at Cerro Corona in the June quarter
compared with the March quarter, as a result of delays in the shipping
schedule at the Salaverry port in Peru in the March quarter.

OPERATING COSTS

Net operating costs increased by 4 per cent from US$366 million in the
March quarter to US$382 million in the June quarter mainly due to the
higher production.

At the South Africa region, net operating costs at South Deep increased
by 11 per cent from R634 million (US$54 million) in the March quarter
to R705 million (US$59 million) in the June quarter. This was mainly
due to higher production, planned annual salary increases effective 1
April 2015 and higher electricity costs due to the tariff increase and one
month of winter tariff.

At the West Africa region, net operating costs increased by 9 per cent
from US$125 million in the March quarter to US$136 million in the June
quarter. This increase in net operating costs was mainly due to an
increase in volumes at both mines, as well as a drawdown of inventory
of US$6 million compared with a build-up of US$4 million in the March
quarter.

At the South America region, net operating costs at Cerro Corona
increased by 54 per cent from US$28 million in the March quarter to
US$43 million in the June quarter mainly due to higher volumes mined
and processed as well as a US$5 million drawdown of concentrate at
the end of the June quarter compared with a US$5 million build-up at
the end of the March quarter.

At the Australia region, net operating costs decreased by 7 per cent
from A$200 million (US$158 million) in the March quarter to A$186
million (US$145 million) in the June quarter. This was mainly due to
lower volumes at St Ives and a drawdown of inventory of A$1 million
(US$nil million) at Granny Smith in the June quarter compared with A$6
million (US$4 million) in the March quarter.

OPERATING PROFIT

Operating profit for the Group increased by 14 per cent from US$244
million in the March quarter to US$278 million in the June quarter due
to the increase in revenue, partially offset by the higher net operating
costs.

AMORTISATION

Amortisation for the Group was similar at US$142 million.

OTHER

Net interest paid for the Group decreased by 21 per cent from US$19
million in the March quarter to US$15 million in the June quarter.
Interest paid of US$21 million, partially offset by interest received of
US$2 million and interest capitalised of US$4 million in the June
quarter compared with interest paid of US$26 million, partially offset by
interest received of US$2 million and interest capitalised of US$5
million in the March quarter

The share of equity accounted losses of US$1 million in the June
quarter compared with US$3 million in the March quarter and mainly
related to the ongoing study and evaluation costs at the Far Southeast
project (FSE). The March quarter included the Group's share of losses
at Hummingbird of US$2 million and ongoing study and evaluation
costs at FSE of US$1 million.

The loss on foreign exchange of US$2 million in the June quarter
compared with a gain of US$2 million in the March quarter. These

gains and losses on foreign exchange related to the conversion of
offshore cash holdings into their functional currencies.

The gain on financial instruments of US$2 million in the June quarter
compared with a loss of US$3 million in the March quarter and related
to the mark to market adjustment on the diesel hedges that the
Australian operations entered into on 10 September 2014 and 26
November 2014.

Share-based payments for the Group were similar at US$3 million.
Long-term employee benefits decreased from US$3 million in the
March quarter to US$nil million in the June quarter due to mark to
market adjustments. Together, the two schemes decreased from US$6
million to US$3 million.

Other costs for the Group decreased from US$10 million to US$9
million.

EXPLORATION AND PROJECT COSTS

Exploration and project costs increased from US$13 million in the
March quarter to US$19 million in the June quarter mainly due to higher
expenditure at Salares Norte. Expenditure at Salares Norte increased
from US$3 million in the March quarter to US$11 million in the June
quarter due to the resumption of drilling activities at the project
following extreme weather conditions in Chile.

NON-RECURRING ITEMS

Non-recurring expenses increased from US$nil million in the March
quarter to US$11 million in the June quarter. The non-recurring
expenses in the June quarter included US$7 million on the impairment
of the Group's investment in Hummingbird and A$3 million (US$3
million) related to retrenchment costs at St Ives. The impairment of
Hummingbird was recognised in terms of IAS36 - Impairment of
Assets. The impairment charge has no cash effect. We believe that
Hummingbird should realise its full potential.

ROYALTIES

Government royalties for the Group increased from US$18 million in
the March quarter to US$21 million in the June quarter mainly due to
the higher revenue in Ghana and Peru.

TAXATION

The taxation charge for the Group of US$43 million in the June quarter
compared with US$44 million in the March quarter. Normal taxation
increased from US$27 million to US$37 million. The deferred tax
charge decreased from US$18 million in the March quarter to US$6
million in the June quarter.

The tax returns for Cerro Corona are filed in Peruvian Nuevo Sol
(Soles) and the functional currency for accounting purposes is the US
dollar. For accounting purposes the tax base must be converted from
Soles to dollars at the closing rate at quarter end. Therefore, the
unutilised taxation allowances fluctuate due to movements in the
exchange rate between the Peruvian Nuevo Sol and the US dollar. This
resulted in a change in the temporary taxation differences for non-
monetary assets on translation. This, in turn, resulted in a deferred tax
charge of US$5 million arising from the weakening of the exchange rate
from 3.09 to 3.17 in the June quarter compared with a charge of US$21
million arising from the weakening of the exchange rate from 2.84 to
3.09 in the March quarter. It has no cash effect.

EARNINGS

Net earnings attributable to owners of the parent of US$12 million or
US$0.02 per share in the June quarter compared with net losses of
US$14 million or US$0.02 per share in the March quarter.

Headline earnings of US$19 million or US$0.03 per share in the June
quarter compared with headline losses of US$14 million or US$0.02
per share in the March quarter.

Normalised earnings of US$22 million or US$0.03 per share in the
June quarter compared with normalised losses of US$13 million or
US$0.02 per share in the March quarter.

CASH FLOW

Cash inflow from operating activities of US$191 million in the June
quarter compared with US$150 million in the March quarter. This
increase was mainly due to higher operating profit and lower seasonal
taxation paid in Ghana and Australia, partially offset by lower release of
working capital.

Cash outflow from investing activities decreased from US$179 million in
the March quarter to US$161 million in the June quarter. This was
mainly due to a decrease in capital expenditure from US$175 million in
the March quarter to US$158 million in the June quarter as well as a
decrease in environmental payments from US$6 million to US$3
million.

Cash inflow from operating activities less net capital expenditure and
environmental payments of US$30 million in the June quarter
compared with a cash outflow of US$29 million in the March quarter.
This was due to the higher gold sold in the June quarter. The US$30
million in the June quarter comprised: US$74 million generated by the
eight mining operations, less US$19 million of interest paid (this
excludes any interest paid by the mines), US$12 million for exploration
(this excludes any mine based brownfields exploration which is
included in the US$74 million above) and US$13 million on non-mine
based costs. The US$29 million outflow in the March quarter
comprised: US$4 million loss by the eight mining operations, US$20
million of interest paid, US$6 million for exploration mainly at Salares
Norte (this excludes any mine based brownfields exploration which is
included in the loss incurred by the mining operations above) and US$1
million on non-mine based income.

In the South Africa region at South Deep, capital expenditure
decreased from R219 million (US$19 million) in the March quarter to
R200 million (US$17 million) in the June quarter. The majority of this
expenditure was on the upgrade of Twin Main shaft man and rock
winder, development and infrastructure costs as well as the purchase
of trackless equipment.

At the West Africa region, capital expenditure decreased from US$89
million to US$52 million. At Tarkwa, capital expenditure decreased
from US$85 million to US$48 million with expenditure mainly incurred
on pre-stripping. Capital expenditure in the March quarter included
US$46 million for fleet replacement. Capital expenditure at Damang
was similar at US$4 million.

In the South America region at Cerro Corona, capital expenditure
increased from US$7 million to US$12 million. The majority of the
expenditure was on the construction of further raises to the tailings
dam.

At the Australia region, capital expenditure increased from A$77 million
(US$61 million) in the March quarter to A$99 million (US$77 million) in
the June quarter. At St Ives, capital expenditure increased from A$32
million (US$25 million) in the March quarter to A$45 million (US$35
million) in the June quarter, with expenditure mainly on pre-stripping
and infrastructure establishment at the Invincible open pit. At
Agnew/Lawlers, capital expenditure increased from A$20 million
(US$16 million) to A$23 million (US$18 million) mainly due to increased
exploration costs. At Darlot, capital expenditure increased from A$5
million (US$4 million) to A$8 million (US$6 million) and at Granny
Smith, capital expenditure increased from A$20 million (US$16 million)
in the March quarter to A$23 million (US$18 million) in the June
quarter. This increased capital expenditure at Darlot and Granny Smith
was due to increased development and exploration activity.

Net cash outflow from financing activities of US$10 million in the June
quarter compared with US$8 million in the March quarter and related to
net loans raised and paid. The outflow in the June quarter related to
the repayment of offshore loans of US$15 million, partially offset by a
drawdown of offshore dollar loans of US$5 million.

The net cash inflow for the Group of US$16 million in the June quarter
compared with an outflow of US$50 million in the March quarter. After
accounting for a negative translation adjustment of US$3 million on
non-US dollar cash balances, the cash inflow for the June quarter was
US$13 million. As a result, the cash balance increased from US$402
million at the end of March to US$415 million at the end of June.

ALL-IN SUSTAINING AND TOTAL ALL-IN COST

The Group all-in sustaining costs decreased by 10 per cent from
US$1,143 per ounce in the March quarter to US$1,029 per ounce in the
June quarter mainly due to the higher gold sold, higher by-product
credits and lower sustaining capital expenditure partially offset by the
higher gold inventory charge to cost. Total all-in cost decreased by 9
per cent from US$1,164 per ounce in the March quarter to US$1,059
per ounce in the June quarter for the same reasons as all-in sustaining
costs as well as lower non-sustaining capital expenditure, partially
offset by higher exploration, feasibility and evaluation costs.

In the South Africa region, at South Deep, all-in sustaining costs
increased by 1 per cent from R726,648 per kilogram (US$1,929 per
ounce) to R734,784 per kilogram (US$1,895 per ounce) due to the
higher operating costs, partially offset by lower sustaining capital
expenditure and higher gold sold. The total all-in cost decreased by 1
per cent from R774,335 per kilogram (US$2,055 per ounce) to
R769,847 per kilogram (US$1,986 per ounce) due to the same reasons
as for all-in sustaining costs as well as lower non-sustaining capital
expenditure.

At the West Africa region, all-in sustaining costs and total all-in cost
decreased by 21 per cent from US$1,299 per ounce in the March
quarter to US$1,029 per ounce in the June quarter mainly due to higher
gold sold and lower capital expenditure, partially offset by higher net
operating costs.

At the South America region, all-in sustaining costs and total all-in cost
decreased by 23 per cent from US$493 per ounce to US$381 per
ounce. This was mainly due to higher gold sold and higher by-product
credits, partially offset by higher operating costs, an inventory charge to
costs and higher capital expenditure. All-in sustaining costs and total
all-in cost per equivalent ounce decreased by 1 per cent from US$671
per equivalent ounce to US$662 per equivalent ounce.

At the Australia region, all-in sustaining costs and total all-in cost
increased by 4 per cent from A$1,240 per ounce (US$978 per ounce)
in the March quarter to A$1,288 per ounce (US$1,008 per ounce) in the
June quarter mainly due to lower gold sold and higher capital
expenditure, partially offset by lower operating costs and a lower gold
inventory charge to costs.

FREE CASH FLOW MARGIN

The free cash flow (FCF) margin is revenue less cash outflow divided
by revenue expressed as a percentage.

The FCF for the Group for the June quarter is calculated as follows:

June 2015 US$'m US$/oz

Revenue* 618.1 1,191
Less: Cash outflow (559.7) 1,079
AIC (549.5) 1,059
Adjusted for
Share-based payments (as non-cash) 3.0 6
Long-term employee benefits 0.3 1
Exploration, feasibility and evaluation
costs outside of existing operations 11.9 23
Tax paid (excluding royalties) (25.4) 49
Free cash flow** 58.4 113
FCF margin 9%
Gold sold only - 000'ounces 518.9

* Revenue from income statement at US$660.4 million less revenue from by-products in AIC
at US$42.3 million equals US$618.1 million.

** Free cash flow does not agree with cash flows from operating activities less capital
expenditure in the statement of cash flows on page 19 mainly due to working capital
adjustments and non-recurring items included in statement of cash flows.

The FCF margin of 9 per cent in the June quarter at a gold price of
US$1,174 per ounce compared with a negative 3 per cent in the March
quarter at a gold price of US$1,198 per ounce.

The higher FCF margin in the June quarter was mainly due to higher
gold sold, lower total all-in cost and lower taxation paid, partially offset
by higher exploration, feasibility and evaluation costs outside of existing
operations.

BALANCE SHEET

Net debt (long-term loans plus the current portion of long-term loans
less cash and deposits) decreased from US$1,499 million at the end of
March to US$1,477 million at the end of June, a US$22 million
decrease.

NET DEBT/EBITDA

The net debt/EBITDA ratio at the end of the June quarter was 1.44
calculated on the actual results for the 12 months ended June 2015.

South Africa region

South Deep Project
June March
2015 2015
Gold produced 000'oz 38.7 36.3
kg 1,203 1,129
Yield - underground reef g/t 4.49 5.01
All-in sustaining costs R/kg 734,784 726,648
US$/oz 1,895 1,929
Total all-in cost R/kg 769,847 774,335
US$/oz 1,986 2,055

Gold production increased by 7 per cent from 1,129 kilograms (36,300
ounces) in the March quarter to 1,203 kilograms (38,700 ounces) in the
June quarter, despite the negative effect of the fatal accident in May.

Total tonnes milled increased by 14 per cent from 262,000 tonnes in
the March quarter to 298,000 tonnes in the June quarter. Total tonnes
milled in the June quarter included 2,500 tonnes of underground waste
mined and 26,600 tonnes of surface tailings material compared with
6,200 tonnes of underground waste mined and 31,700 tonnes of
surface tailings material in the March quarter. The treatment of the
surface material continued to sustain the backfill requirements in both
current workings and historical open stopes. Underground reef yield
decreased by 10 per cent from 5.01 grams per tonne to 4.49 grams per
tonne due to lower recovery from the high grade 3W mining area as a
result of unplanned dilution of the long hole stopes in 95 3W (the
causes of which have since been remediated) and an increase in gold-
in-process in the June quarter due to operational delays in the
electrowinning process at month end.

Development increased by 13 per cent from 834 metres in the March
quarter to 939 metres in the June quarter. New mine capital
development (phase one, sub 95 level) recommenced in May and 83
metres were achieved for the June quarter. Development in the current
mine areas in 95 level and above increased from 834 metres to 856
metres. Destress mining decreased from 7,563 square metres in the
March quarter to 6,056 square metres in the June quarter. The decline
in destress mining is attributed to a reduction in face availability due to
more rigid application of spatial compliance and immature destress cuts
(number of ends will increase as destress cuts mature).

During the June quarter, the current mine (95 level and above)
contributed 77 per cent of the ore tonnes while the new mine (below 95
level) contributed 23 per cent. The long-hole stoping method
accounted for 37 per cent of total ore tonnes mined. The proportion of
long hole stoping is expected to increase significantly over the balance
of the year.

Operating costs increased by 11 per cent from R634 million (US$54
million) in the March quarter to R705 million (US$59 million) in the June
quarter, mainly due to the higher production and annual salary
increases effective 1 April 2015. In addition, electricity costs increased
as a result of the 12.7 per cent annual increase effective 1 April 2015
and the inclusion of one month of higher winter tariff (30 per cent
higher) in the June quarter.

The operating loss of R148 million (US$12 million) in the June quarter
compared with R118 million (US$10 million) in the March quarter
mainly due to higher operating costs, partially offset by higher revenue.

Capital expenditure decreased from R219 million (US$19 million) in the
March quarter to R200 million (US$17 million) in the June quarter as a
result of lower spending on fleet, partially offset by additional spending
to upgrade the Twin Main Shaft man and rock winders.

All-in sustaining costs increased from R726,648 per kilogram
(US$1,929 per ounce) in the March quarter to R734,784 per kilogram
(US$1,895 per ounce) in the June quarter due to the higher operating
costs, partially offset by lower sustaining capital expenditure and higher
gold sold.

Total all-in cost decreased from R774,335 per kilogram (US$2,055 per
ounce) in the March quarter to R769,847 per kilogram (US$1,986 per
ounce) in the June quarter due to lower sustaining and non-sustaining
capital expenditure as well as higher gold sold, partially offset by higher
operating costs.

Sustaining capital expenditure decreased from R165 million (US$14
million) in the March quarter to R157 million (US$13 million) in the June
quarter and non-sustaining capital expenditure decreased from R54
million (US$5 million) in the March quarter to R43 million (US$4 million)
in the June quarter.

The following remedial strategies are expected to improve destress
mining volumes during the second half of 2015:

Face availability
A number of the new destress cuts are expected to mature during the
September and December 2015 quarters. This is planned to result in
an increase in face (panel) availability. Significant effort is being
exerted to improve spatial compliance (correct sequence of mining)
through the integration of the mining and short term mining planning
teams.

Low profile (LP) drill rig fleet
The introduction of 4 new LP LHD's and 6 new LP drill rigs in addition
to the existing 19 LP LHD's (including 4 swing units) and 12 LP drill rigs
(including 4 swing units).

Primary support installation
The installation of primary support remains a constraint in the destress
mining cycle. In the short term, 8 additional support crews have been
employed to increase current support installation in addition to the
existing 8 support crews. Further, mechanised support installation
methods are being investigated. Low profile mechanised bolters are
planned to be trialled from the end of August 2015 to further improve
the blasting cycle from one panel per shift to two panels per shift.

West Africa region

GHANA

Tarkwa
June March
2015 2015
Gold produced 000'oz 156.2 135.8
Yield - CIL plant g/t 1.42 1.24
- combined g/t 1.42 1.24
All-in sustaining costs US$/oz 938 1,299
Total all-in cost US$/oz 938 1,299

Gold production increased by 15 per cent from 135,800 ounces in the
March quarter to 156,200 ounces in the June quarter due to higher
grades mined and processed.

Total tonnes mined, including capital stripping, increased from 25.7
million tonnes in the March quarter to 26.7 million tonnes in the June
quarter mainly due to improved excavator and drill rig availability. Ore
tonnes mined decreased from 3.9 million tonnes to 3.4 million tonnes.
Operational waste tonnes mined decreased from 8.2 million tonnes to
7.8 million tonnes while capital waste tonnes mined increased from
13.6 million tonnes to 15.5 million tonnes. Head grade mined
increased from 1.37 grams per tonne to 1.49 grams per tonne due to
mining of the Teberebie pillar and surrounding high grades areas in line
with the mining sequence. The strip ratio increased from 5.5 to 6.8.

The CIL plant throughput was similar at 3.40 million tonnes despite the
continuation, and worsening, of regulated power load shedding.
Realised yield from the CIL plant increased from 1.24 grams per tonne
in the March quarter to 1.42 grams per tonne in the June quarter due to
higher head grades. The CIL plant production increased from 135,800
ounces to 156,200 ounces. The 156,200 ounces produced by the CIL
plant was an all-time record due to both record throughput and head
grade mined from the pit.

Net operating costs, including gold-in-process movements, increased
from US$82 million in the March quarter to US$87 million in the June
quarter mainly due to a drawdown of gold-in-circuit of US$4 million in
the June quarter compared with a build-up of US$3 million in the March
quarter, partially offset by lower operating costs.

Operating profit increased from US$84 million in the March quarter to
US$100 million in the June quarter as a result of the higher gold sold.

Capital expenditure decreased from US$85 million to US$48 million
with the majority of expenditure on pre-stripping. The March quarter
included US$46 million for fleet replacement.

All-in sustaining costs and total all-in cost decreased from US$1,299
per ounce in the March quarter to US$938 per ounce in the June
quarter mainly due to lower capital expenditure and increased gold
sold, partially offset by higher net operating costs.

Damang
June March
2015 2015
Gold produced 000'oz 41.5 39.0
Yield g/t 1.18 1.19
All-in sustaining costs US$/oz 1,370 1,299
Total all-in cost US$/oz 1,370 1,299

Gold production increased by 6 per cent from 39,000 ounces in the
March quarter to 41,500 ounces in the June quarter mainly due to
higher tonnes processed.

Total tonnes mined, including capital stripping, decreased marginally
from 5.4 million tonnes in the March quarter to 5.1 million tonnes in the
June quarter.

Ore tonnes mined increased from 1.0 million tonnes to 1.3 million
tonnes. Operational waste tonnes mined decreased from 4.4 million
tonnes in the March quarter to 3.8 million tonnes in the June quarter.
Head grade mined decreased from 1.30 grams per tonne to 1.22 grams
per tonne. The lower head grade was mainly due to less high grade
ore exposed in the pits during the June quarter and in line with the
mining schedule. The grade is planned to improve in the September
quarter. The strip ratio decreased from 4.3 to 2.9.

Yield decreased from 1.19 grams per tonne to 1.18 grams per tonne
due to lower grades mined and processed in the June quarter.

Tonnes processed increased from 1.02 million tonnes in the March
quarter to 1.09 million tonnes in the June quarter due to an increase in
plant utilisation from 87 per cent in the March quarter to 90 per cent in
the June quarter. The March quarter was affected by increased power
interruptions from the grid.

Net operating costs, including gold-in-process movements, increased
from US$44 million to US$50 million due to a US$2 million drawdown
of inventory in the June quarter compared with a US$1 million build-up
of inventory in the March quarter and an increase in tonnes treated. In
addition, fuel costs increased due to the utilisation of Gensets to
generate power as a result of increased power load shedding
requirements.

Operating profit decreased from US$4 million in the March quarter to
US$nil million in the June quarter due to the higher operating costs,
partially offset by higher gold sold.

Capital expenditure was similar at US$4 million with the majority spent
on the processing plant upgrade and heavy vehicle equipment
components.

All-in sustaining costs and total all-in cost increased from US$1,299 per
ounce in the March quarter to US$1,370 per ounce in the June quarter
due to the higher operating costs, partially offset by higher gold sold.

South America region

PERU

Cerro Corona
June March
2015 2015
Gold produced 000'oz 43.9 34.2
Copper produced tonnes 7,821 6,744
Total equivalent gold produced 000' eqoz 83.6 66.6
Total equivalent gold sold 000' eqoz 90.8 56.4
Yield - gold g/t 0.87 0.69
- copper per cent 0.50 0.44
- combined g/t 1.59 1.30
All-in sustaining costs US$/oz 381 493
Total all-in cost US$/oz 381 493
AISC per equivalent ounce* US$/oz 662 671
AIC per equivalent ounce* US$/oz 662 671
Gold price** US$/oz 1,194 1,219
Copper price** US$/t 6,079 5,830

* Refer to page 22 and 24 for calculations.

** Average daily spot price for the period used to calculate total equivalent gold ounces
produced.

Gold production increased by 28 per cent from 34,200 ounces in the
March quarter to 43,900 ounces in the June quarter. Copper
production increased by 16 per cent from 6,744 tonnes to 7,821 tonnes.
Equivalent gold production increased by 26 per cent from 66,600
ounces to 83,600 ounces. Gold head grade increased from 0.97 grams
per tonne to 1.21 grams per tonne and copper head grade increased
from 0.51 per cent to 0.58 per cent. Gold recoveries increased from
71.3 per cent to 71.7 per cent and copper recoveries increased from
85.6 per cent to 86.4 per cent due to higher head grades. As a result,
gold yield increased from 0.69 grams per tonne to 0.87 grams per
tonne and copper yield increased from 0.44 per cent to 0.50 per cent.

In the June quarter, concentrate with a payable content of 47,627
ounces of gold was sold at an average price of US$1,186 per ounce
and 8,470 tonnes of copper was sold at an average price of US$5,185
per tonne, net of treatment and refining charges. This compared with
concentrate with a payable content of 29,093 ounces of gold sold at an
average price of US$1,202 per ounce and 5,703 tonnes of copper sold
at an average price of US$5,198 per tonne, net of treatment and
refining charges, in the March quarter. Total equivalent gold sales
increased by 61 per cent from 56,400 ounces in the March quarter to
90,800 ounces in the June quarter mainly due to higher production and
a drawdown of concentrate inventory as a result of delays in the
shipping schedule at the Salaverry port in the March quarter.

Total tonnes mined decreased by 5 per cent from 3.14 million tonnes in
the March quarter to 2.98 million tonnes in the June quarter in line with
the mine sequencing and the production schedule for the June quarter.
Ore mined increased from 1.63 million tonnes to 1.73 million tonnes.
The strip ratio decreased from 0.93 to 0.72 due to lower waste mined.

Ore processed increased by 2 per cent from 1.60 million tonnes in the
March quarter to 1.63 million tonnes in the June quarter mainly due to
an increase in plant throughput from 781 tonnes per hour in the March
quarter to 801 tonnes per hour in the June quarter.
Net operating costs, including gold-in-process movements, increased
from US$28 million in the March quarter to US$43 million in the June
quarter. The higher cost was mainly due to higher production as well
as a US$5 million drawdown of concentrate inventory in the June
quarter compared with a US$5 million build-up of concentrate inventory
at the end of the March quarter.

Operating profit increased from US$29 million in the March quarter to
US$56 million in the June quarter due to higher equivalent gold sold,
partially offset by higher net operating costs.

Capital expenditure increased from US$7 million to US$12 million
mainly due to higher construction activities at the tailings dam, which
was delayed as a result of the rainy season in the March quarter.

All-in sustaining costs and total all-in cost decreased from US$493 per
ounce in the March quarter to US$381 per ounce in the June quarter
mainly due to higher by-product credits and higher gold sold, partially
offset by higher net operating costs and higher capital expenditure. All-
in sustaining costs and total all-in costs per equivalent ounce
decreased from US$671 per equivalent ounce to US$662 per
equivalent ounce.

Australia region
St Ives
June March
2015 2015
Gold produced 000'oz 89.2 98.7
Yield - underground g/t 4.97 4.05
- heap leach* g/t - -
- surface g/t 2.06 1.96
- combined g/t 3.04 2.68
All-in sustaining costs A$/oz 1,454 1,304
US$/oz 1,136 1,029
Total all-in cost A$/oz 1,454 1,304
US$/oz 1,136 1,029

* Heap leach produced 1,400 ounces, rinsed from inventory (1,100 ounces was rinsed in the
March quarter).

Gold production decreased by 10 per cent from 98,700 ounces in the
March quarter to 89,200 ounces in the June quarter due to lower ore
mined and processed.

Total tonnes mined increased from 4.6 million tonnes in the March
quarter to 5.9 million tonnes in the June quarter.

At the underground operations, ore mined decreased by 36 per cent
from 423,000 tonnes in the March quarter to 272,000 tonnes in the
June quarter mainly as a result of the Cave Rocks operation moving to
care and maintenance (at the beginning of May). Cave Rocks produced
58,000 tonnes in the June quarter compared with 177,000 tonnes in the
March quarter. In addition, tonnes from the Hamlet operation were
impacted by a blockage in the paste reticulation system in the June
quarter which delayed the paste fill of open voids. The average grade
of ore mined from the underground operations increased from 4.31
grams per tonne to 4.84 grams per tonne in line with the mining
schedule as well as due to less dilution and increased higher grade
mix.

At the open pit operations, total ore tonnes mined increased from
201,000 tonnes in the March quarter to 395,000 tonnes in the June
quarter. Grade mined decreased from 2.32 grams per tonne to 2.21
grams per tonne. The increased tonnes mined were from the Invincible
pit which was primarily in a stripping phase during the March quarter.
All 395,000 tonnes of ore in the June quarter was produced from the
Invincible pit. This compared with 27,000 tonnes produced from
Invincible in the March quarter and 174,000 tonnes of ore produced
from the Redback pit which was completed in March. Steady state ore
tonnes from Invincible pit at a rate of 450,000 tonnes per quarter are
expected to be achieved by end of August 2015.

Operational waste tonnes mined increased from 501,000 tonnes in the
March quarter to 696,000 tonnes in the June quarter. Capital waste
tonnes mined increased from 3.5 million tonnes to 4.5 million tonnes as
additional working areas in the Invincible pit were developed. The strip
ratio decreased from 19.8 to 13.3.

Throughput at the Lefroy mill decreased from 1.14 million tonnes in the
March quarter to 0.91 million tonnes in the June quarter. After the
utilisation of all remaining Neptune stockpiles a campaign milling
strategy was adopted during the June quarter to preserve the
remaining low grade stocks, thereby retaining operational flexibility
going forward. Yield increased from 2.68 grams per tonne to 3.04
grams per tonne in line with reduced processing of low grade
stockpiles. Gold production from Lefroy mill decreased from 97,600
ounces in the March quarter to 87,800 ounces in the June quarter
mainly due to the lower volumes processed and the utilisation of all
remaining stockpiled Neptune open pit high grade ore. Lower grade
Neptune ore continued to be utilised into the June quarter. All Neptune
stocks were depleted as of the end of June. Residual leaching and
irrigation of the existing heap leach pad continued and a further 1,400
ounces were produced in the June quarter compared with 1,100
ounces produced in the March quarter. Since cessation of stacking
activities, a total of 22,400 ounces have been produced. This process
will continue until pregnant solutions become uneconomic.

Net operating costs, including gold-in-process movements, decreased
from A$87 million (US$68 million) in the March quarter to A$78 million
(US$61 million) in the June quarter mainly due to restructuring after the
Cave Rocks mine moved into care and maintenance.

Operating profit decreased from A$67 million (US$53 million) in the
March quarter to A$59 million (US$46 million) in the June quarter due
to lower gold sold, partially offset by lower net operating costs.

Capital expenditure increased from A$32 million (US$25 million) in the
March quarter to A$45 million (US$35 million) in the June quarter due
to additional pre-stripping at the Invincible pit together with associated
infrastructure establishments. Increased exploration activity also
contributed to additional capital expenditure. Exploration expenditure
increased from A$7 million (US$6 million) in the March quarter to A$12
million (US$9 million) in the June quarter due to timing.

All-in sustaining costs and total all-in cost increased from A$1,304 per
ounce (US$1,029 per ounce) in the March quarter to A$1,454 per
ounce (US$1,136 per ounce) in the June quarter due to the lower gold
sold and higher capital expenditure, partially offset by lower net
operating costs.

Agnew/Lawlers
June March
2015 2015
Gold produced 000'oz 53.8 59.6
Yield - underground g/t 5.33 5.94
- surface g/t - -
- combined g/t 5.33 5.94
All-in sustaining costs A$/oz 1,357 1,206
US$/oz 1,077 951
Total all-in cost A$/oz 1,357 1,206
US$/oz 1,077 951

Gold production decreased by 10 per cent from 59,600 ounces in the
March quarter to 53,800 ounces in the June quarter mainly due to lower
grades mined as a consequence of challenging geotechnical conditions
at Waroonga.

Ore mined from underground increased by 14 per cent from 290,000
tonnes in the March quarter to 332,000 tonnes in the June quarter due
to increased ore development meters and improved stope production
rates at both Waroonga and New Holland. Head grade mined
decreased by 23 per cent from 6.85 grams per tonne to 5.29 grams per
tonne. Ground conditions at the Kim ore body have necessitated
rehabilitation and extra ground support. This resulted in slower rates of
mining in certain higher grade areas with tonnages substituted from
lower grade areas in the Waroonga ore body outside of Kim. However,
very little effect is expected in terms of ounces forfeited, if any.
Planned changes in mining mix have also affected the grade.

Tonnes processed increased marginally from 312,000 tonnes in the
March quarter to 314,000 tonnes in the June quarter. The combined
yield decreased from 5.94 grams per tonne to 5.33 grams per tonne
mainly due to lower grades mined. The gap in the yield quarter on
quarter is lower than the gap in the mining grade quarter on quarter due
to higher grade stockpiles being processed in the June quarter and
lower grade material being stockpiled.

Net operating costs, including gold-in-process movements, decreased
from A$47 million (US$37 million) in the March quarter to A$46 million
(US$36 million) in the June quarter due to a A$2 million (US$2 million)
build-up of inventory in the June quarter compared with a A$1 million
(US$1 million) drawdown in the March quarter.

Operating profit decreased from A$45 million (US$36 million) in the
March quarter to A$37 million (US$29 million) in the June quarter due
to lower gold sold, partially offset by lower net operating costs.

Capital expenditure increased from A$20 million (US$16 million) in the
March quarter to A$23 million (US$18 million) in the June quarter. The
increase in capital expenditure was due to increased exploration
expenditure. The drive from the Kim decline to the high grade Fitzroy,
Bengal and Hastings ('FBH') ore bodies continued throughout the June
quarter. The first ore from FBH is expected in October 2015. The
methodology described above to best manage the ground conditions at
Kim has pre-emptively been applied to the mining plan to be utilised at
FBH. Commencement of mining at the relatively high grade FBH and
greater volumes of ore from Kim is expected to result in higher grades
mined in the second half of 2015.

All-in sustaining costs and total all-in cost increased from A$1,206 per
ounce (US$951 per ounce) in the March quarter to A$1,357 per ounce
(US$1,077 per ounce) in the June quarter mainly due to lower gold sold
and higher capital expenditure.

Darlot
June March
2015 2015
Gold produced 000'oz 17.4 11.2
Yield g/t 4.22 4.04
All-in sustaining costs A$/oz 1,500 2,226
US$/oz 1,164 1,757
Total all-in cost A$/oz 1,500 2,226
US$/oz 1,164 1,757

Gold production increased by 55 per cent from 11,200 ounces in the
March quarter to 17,400 ounces in the June quarter due to higher
volumes and grades mined.

Ore mined from underground increased from 86,000 tonnes to 108,200
tonnes mainly due to increased stope and production development
tonnes. Head grade increased from 4.37 grams per tonne in the March
quarter to 5.43 grams per tonne in the June quarter. The increase in
grade was due to the removal of high risk marginal low grade stopes
and an increase in higher grade development ore in Lords South
Lower. Capital waste tonnes mined increased from 40,000 tonnes in
the March quarter to 55,500 tonnes in the June quarter due to the
development to Lords South Lower.

Tonnes processed increased from 86,000 tonnes in the March quarter
to 128,300 tonnes in the June quarter mainly due to increased tonnes
mined and 63,000 tonnes of toll treatment ore. The yield increased
from 4.04 grams per tonne to 4.22 grams per tonne mainly due to
higher grade ore mined, partially offset by lower grade material treated
as part of the toll treatment arrangements. The tolling arrangements
contributed 880 ounces to gold production for the June quarter.

Net operating costs, including gold-in-process movements, decreased
from A$19 million (US$15 million) in the March quarter to A$17 million
(US$13 million) in the June quarter. The reduction reflects a higher
portion of mining costs being allocated to capital as the development at
Lords South Lower accelerated as well as the continued rationalisation
of costs across the mine.

Operating profit of A$9 million (US$7 million) in the June quarter
compared with an operating loss of A$1 million (US$1 million) in the
March quarter mainly due to higher gold sold and lower net operating
costs.

Capital expenditure increased from A$5 million (US$4 million) to A$8
million (US$6 million) with increased capital development at Lords
South Lower and increased exploration expenditure. The benefits of
the higher grade Lords South Lower section are expected to be
realised in the second half of 2015 with first stope ore to be mined in
July.

All-in sustaining costs and total all-in cost decreased from A$2,226 per
ounce (US$1,757 per ounce) in the March quarter to A$1,500 per
ounce (US$1,164 per ounce) in the June quarter mainly due to higher
gold sold.

After a difficult March quarter, Darlot was able to meet its goal in the
June quarter of self-funding a meaningful exploration programme in
order to extend the mine's life and continue the search for the 'game
changer' which is targeted to return the mine to a 15 per cent free cash
flow margin. With the high grade Lords South Lower moving into
production, Darlot will seek to recoup the March quarter shortfall in the
second half of 2015.

Granny Smith
June March
2015 2015
Gold produced 000'oz 74.6 72.0
Yield g/t 6.41 6.05
All-in sustaining costs A$/oz 989 1,027
US$/oz 770 810
Total all-in cost A$/oz 989 1,027
US$/oz 770 810

Gold production increased by 4 per cent from 72,000 ounces in the
March quarter to 74,600 ounces in the June quarter due to improved
volumes and grades mined.

Ore mined from underground increased from 323,000 tonnes to
354,000 tonnes. Head grade mined increased from 6.30 grams per
tonne in the March quarter to 7.21 grams per tonne in the June quarter
with mining activity taking place, as anticipated, in higher grade areas
of the ore-body. Ore tonnes mined increased as a result of efforts
during the quarter to increase the number of stopes available, with
additional resources being applied to ground control and services
works.

Tonnes processed decreased by 2 per cent from 370,000 tonnes in the
March quarter to 361,000 tonnes in the June quarter with less relatively
higher grade stockpiled ore processed in the June quarter. The yield
increased from 6.05 grams per tonne to 6.41 grams per tonne. The
difference in head grade and yield reflects an increase in higher grade
stockpiled ore at the end of the June quarter.

Net operating costs, including gold-in-process movements decreased
from A$48 million (US$38 million) in the March quarter to A$46 million
(US$36 million) in the June quarter, mainly due to a A$1 million (US$nil
million) drawdown of inventory in the June quarter compared with a
A$6 million (US$4 million) drawdown in the March quarter, partially
offset by higher operating costs due to increased mining volumes.

Operating profit increased from A$64 million (US$50 million) in the
March quarter to A$66 million (US$53 million) in the June quarter due
to the higher gold sold and lower net operating costs.

Capital expenditure increased from A$20 million (US$16 million) in the
March quarter to A$23 million (US$18 million) in the June quarter. The
majority of the expenditure related to capital development and
exploration.

All-in sustaining costs and total all-in cost decreased from A$1,027 per
ounce (US$810 per ounce) in the March quarter to A$989 per ounce
(US$770 per ounce) in the June quarter mainly due to higher gold sold
and lower net operating costs, partially offset by higher capital
expenditure.

Quarter ended 30 June 2015 compared with quarter
ended 30 June 2014

Group attributable equivalent gold production decreased by 2 per cent
from 548,000 ounces for the June 2014 quarter to 535,000 ounces for
the June 2015 quarter mainly due to lower production at all the
operations except Tarkwa, Damang, Cerro Corona and St Ives.

At the South Africa region, gold production at South Deep, decreased
by 24 per cent from 1,591 kilograms (51,100 ounces) in the June 2014
quarter to 1,203 kilograms (38,700 ounces) in the June 2015 quarter
mainly due to the extensive ground support remediation programme
introduced in May 2014 and the commensurate effect thereof which is
expected to affect production throughout 2015.

At the West Africa region, total managed gold production increased by
9 per cent from 181,300 ounces in the June 2014 quarter to 197,700
ounces in the June 2015 quarter. At Tarkwa, gold production increased
by 11 per cent from 140,700 ounces to 156,200 ounces mainly due to
increased volumes and higher grade. At Damang, gold production
increased by 2 per cent from 40,500 ounces to 41,500 ounces mainly
due to higher tonnes processed, partially offset by lower grade.

At the South America region, gold equivalent production at Cerro
Corona increased by 9 per cent from 76,800 ounces in the June 2014
quarter to 83,600 ounces in the June 2015 quarter mainly due to an
increase in gold and copper grades.

At the Australia region, gold production decreased by 9 per cent from
256,900 ounces in the June 2014 quarter to 235,000 ounces in the
June 2015 quarter. At St Ives, gold production increased by 7 per cent
from 83,400 ounces to 89,200 ounces, mainly due to higher grade
mined. At Agnew/Lawlers, gold production decreased by 18 per cent
from 66,000 ounces to 53,800 ounces mainly due to lower grade,
partially offset by an increase in ore mined. At Darlot, gold production
decreased by 24 per cent from 22,900 ounces to 17,400 ounces due to
a decrease in tonnes mined and processed as well as lower grade. At
Granny Smith, gold production decreased by 12 per cent from 84,600
ounces to 74,600 ounces mainly due to lower volumes and lower
grade.

INCOME STATEMENT

Revenue decreased by 12 per cent from US$747 million in the June
2014 quarter to US$660 million in the June 2015 quarter due to the
lower gold sold and the lower gold price received. The average gold
price decreased by 8 per cent from US$1,275 per ounce to US$1,174
per ounce. The average Rand/US dollar exchange rate weakened by
15 per cent from R10.53 in the June 2014 quarter to R12.06 in the June
2015 quarter. The average Australian/US dollar exchange rate
weakened by 16 per cent from A$1.00 = US$0.93 to A$1.00 =
US$0.78.

Net operating costs decreased from US$436 million to US$382 million.
This was due to the lower production, the 15 per cent weaker Rand/US
dollar exchange rate, the 16 per cent weaker Australian/US dollar
exchange rate, the lower oil price and good cost control.

At South Deep in South Africa, net operating costs increased by 3 per
cent from R687 million (US$65 million) in the June 2014 quarter to
R705 million (US$59 million) in the June 2015 quarter. This was mainly
due to annual wage increases and normal inflationary increases. All-in
sustaining costs of R734,784 per kilogram (US$1,895 per ounce) and
total all-in cost of R769,847 per kilogram (US$1,986 per ounce) in the
June 2015 quarter compared with all-in sustaining costs of R505,974
per kilogram (US$1,495 per ounce) and total all-in cost of R570,575 per
kilogram (US$1,685 per ounce) in the June 2014 quarter due to lower
gold sold and higher operating costs.

At the West Africa region, net operating costs increased marginally
from US$134 million in the June 2014 quarter to US$136 million in the
June 2015 quarter. All-in sustaining costs and total all-in cost for the
region amounted to US$1,029 per ounce in the June 2015 quarter
compared with US$1,084 per ounce in the June 2014 quarter. At
Tarkwa, net operating costs decreased by 3 per cent from US$90
million to US$87 million due to on-going business improvement
initiatives. All-in sustaining costs and total all-in costs amounted to
US$938 per ounce in the June 2015 quarter compared with US$1,026
per ounce in the June 2014 quarter due to increased gold sold and
lower operating costs.

At Damang, net operating costs increased by 14 per cent from US$44
million to US$50 million due to increased tonnes mined and processed
as well as higher fuel costs resulting from the use of Gensets due to
power load shedding. All-in sustaining costs and total all-in cost
amounted to US$1,370 per ounce in the June 2015 quarter compared
with US$1,282 per ounce in the June 2014 quarter due to higher net
operating costs.

At Cerro Corona in South America, net operating costs decreased by
16 per cent from US$51 million in the June 2014 quarter to US$43
million in the June 2015 quarter. This was mainly due to a drawdown
of concentrate inventory of US$11 million in the June 2014 quarter
compared with US$5 million in the June 2015 quarter. All-in sustaining
costs and total all-in cost amounted to US$381 per ounce in the June
2015 quarter compared with US$307 per ounce in the June 2014
quarter due to lower by-product credits, partially offset by lower capital
expenditure and higher gold ounces sold. All-in sustaining costs and
total all-in cost, on a gold equivalent basis amounted to US$662 per
ounce in the June 2015 quarter compared with US$789 per ounce in
the June 2014 quarter due to lower capital expenditure.

At the Australia region, net operating costs decreased by 7 per cent
from A$199 million (US$185 million) in the June 2014 quarter to A$186
million (US$145 million) in the June 2015 quarter. All-in sustaining
costs and total all-in cost for the region amounted to A$1,288 per ounce
(US$1,008 per ounce) in the June 2015 quarter compared with
A$1,118 per ounce (US$1,042 per ounce) in the June 2014 quarter.

At St Ives, net operating costs decreased by 3 per cent from A$80
million (US$75 million) in the June 2014 quarter to A$78 million (US$61
million) in the June 2015 quarter. All-in sustaining costs and total all-in
cost for St Ives amounted to A$1,454 per ounce (US$1,136 per ounce)
in the June 2015 quarter compared with A$1,472 per ounce (US$1,372
per ounce) in the June 2014 quarter due to lower net operating costs
and higher gold sold, partially offset by higher capital expenditure.

At Agnew/Lawlers, net operating costs decreased by 2 per cent from
A$47 million (US$43 million) in the June 2014 quarter to A$46 million
(US$36 million) in the June 2015 quarter. All-in sustaining costs and
total all-in cost for Agnew/Lawlers amounted to A$1,357 per ounce
(US$1,077 per ounce) in the June 2015 quarter compared with
A$1,083 per ounce (US$1,010 per ounce) in the June 2014 quarter,
due to lower gold sold.

At Darlot net operating costs decreased by 26 per cent from A$23
million (US$22 million) in the June 2014 quarter to A$17 million (US$13
million) in the June 2015 quarter. All-in sustaining costs and total all-in
cost amounted to A$1,500 per ounce (US$1,164 per ounce) in the June
2015 quarter compared with A$1,316 per ounce (US$1,228 per ounce)
in the June 2014 quarter due to lower gold sold.

At Granny Smith, net operating costs decreased by 4 per cent from
A$48 million (US$45 million) in the June 2014 quarter to A$46 million
(US$36 million) in the June 2015 quarter. All-in sustaining costs and
total all-in cost amounted to A$989 per ounce (US$770 per ounce) in
the June 2015 quarter compared with A$742 per ounce (US$692 per
ounce) in the June 2014 quarter due to lower gold sold and higher
capital expenditure.

The Group all-in sustaining costs of US$1,029 per ounce and total all-in
cost of US$1,059 per ounce in the June 2015 quarter compared with
all-in sustaining costs of US$1,050 per ounce and total all-in cost of
US$1,093 per ounce in the June 2014 quarter. The lower all-in-
sustaining and all-in costs in the June 2015 quarter was due to lower
net operating costs, partially offset by lower by-product credits, higher
capital expenditure and lower gold sold.

Operating profit decreased from US$311 million to US$278 million as a
result of the above.

Amortisation for the Group decreased from US$175 million in the June
2014 quarter to US$142 million in the June 2015 quarter mainly due to
lower production and the change in estimate in the depreciation
calculation at the Australian operations, which was implemented in the
second half of 2014.

Net interest paid decreased from US$19 million to US$15 million due to
the paying down of relatively more expensive South African debt as
compared with offshore debt in the March 2015 quarter.

The share of equity accounted losses after taxation was similar at
US$1 million and mainly related to the ongoing study and evaluation
costs at the Far Southeast project (FSE).

The loss on foreign exchange of US$2 million in the June 2015 quarter
compared with a gain of US$1 in the June 2014 quarter. These related
to the conversion of offshore cash holdings into their functional
currencies.

The gain on financial instruments of US$2 million in the June 2015
quarter compared with US$nil million in the June 2014 quarter and
related to the mark to market adjustment on diesel hedges that the
Australian operations entered into on 10 September and 26 November
2014.

Share-based payments for the Group decreased from US$5 million in
the June 2014 quarter to US$3 million in the June 2015 quarter due to
the implementation of a new long-term employee incentive scheme in
2014. Long-term employee benefits of US$nil million in the June 2015
quarter compared with US$4 million in the June 2014 quarter, the
reduction due to mark to market adjustments.

Together the two schemes decreased from US$9 million to US$3
million.

Exploration expenditure increased from US$15 million in the June 2014
quarter to US$19 million in the June 2015 quarter due to higher
expenditure at Salares Norte.

Royalties of US$21 million in the June 2015 quarter compared with
US$22 million in the June 2014 quarter.

The taxation charge of US$43 million in the June 2015 quarter
compared with US$30 million in the June 2014 quarter, in line with the
higher taxable income and as a result of the increased taxation charge
of US$6 million due to the weakening of the Peruvian Nuevo Sol in the
June 2015 quarter compared with an income of US$3 million due to the
strengthening of the Peruvian Nuevo Sol in the June 2014 quarter.

As a result of the above, net earnings attributable to the Gold Fields
shareholders of US$12 million in the June 2015 quarter compared with
net earnings of US$20 million in the June 2014 quarter.

Normalised earnings of US$22 million in the June 2015 quarter
compared with US$25 million in the June 2014 quarter.

CASH FLOW

Cash inflow from operating activities of US$191 million in the June
2015 quarter compared with US$220 million in the June 2014 quarter
with the decrease mainly due to higher royalties and taxation paid in
June 2015.

Cash outflows from investing activities increased from US$156 million
to US$161 million, mainly due to higher capital expenditure.

Capital expenditure increased from US$153 million in the June 2014
quarter to US$158 million in the June 2015 quarter mainly due to
increased expenditure on exploration and development at all of the
Australian operations, partially offset by lower expenditure at Cerro
Corona.

At the South Africa region, capital expenditure at South Deep increased
from R194 million (US$19 million) to R200 million (US$17 million).

At the West Africa region, capital expenditure increased from US$46
million in the June 2014 quarter to US$52 million in the June 2015
quarter mainly due to increased stripping at Tarkwa. In South America,

at Cerro Corona, capital expenditure decreased from US$20 million in
the June 2014 quarter to USS$12 million in the June 2015 quarter. At
the Australia region, capital expenditure increased from A$73 million
(US$68 million) to A$99 million (US$77 million).

Net cash outflow from financing activities of US$10 million in the June
2015 quarter compared with US$80 million in the June 2014 quarter.
Both related to long term and short term loans received and repaid.

The net cash inflow of US$16 million in the June 2015 quarter
compared with a net cash outflow of US$26 million in the June 2014
quarter. After accounting for a negative translation adjustment of US$3
million, the cash inflow in June 2015 was US$13 million. The cash
balance at the end of June 2015 was US$415 million compared with
US$351 million at the end of June 2014.

Corporate

ENERGY, WATER AND CLIMATE CHANGE

Gold Fields has undertaken a number of energy, water and climate
change initiatives during the quarter:

An agreement was signed with the Carbon War Room/Rocky Mountain
Institute, a global non-profit organisation founded by Sir Richard
Branson and like-minded entrepreneurs to accelerate the adoption of
business solutions to advance the low carbon economy, to investigate
energy security and the integration of renewable energy at its
operations. The report by the organisation has been completed and its
key findings have been integrated into our mines' energy plans.

Gold Fields has started implementing five-year regional energy security
plans that have been developed in response to rising energy costs and
energy supply concerns in West Africa and South Africa.

Australia's Clean Energy Regulator, set up under Australia's new
carbon policy, in May approved an application to its Emission
Reduction Fund (ERF) from Gold Fields to earn carbon credits
(ACCUs) from a project that meets criteria specified in the ERF
'industrial electricity and fuel efficiency' methodology. Gold Fields will
earn the credits by switching the power station at its Granny Smith
mine from diesel to gas - a cleaner fuel. The project is only the second
to be approved by the ERF.

The Group submitted its 2015 Carbon Disclosure Report (CDP)
detailing its greenhouse gas emissions, energy use and the risks and
opportunities arising from climate change. It also submitted its 2015
CDP Water Disclosure Report (WDP) which contains information
relating to its water usage, goals and water-related risks. Both reports
are available on the Gold Fields website.

WOODJAM PROJECT DISPOSAL

Gold Fields reached an agreement with its partner, Consolidated
Woodjam Copper Corporation ('Woodjam Copper') (TSX-V: WCC), to
sell its 51 per cent interest in the Woodjam copper-gold-molybdenum
projects located in British Columbia (BC), Canada.

Under the agreement Woodjam Copper will procure 100 per cent
control of the Woodjam project by purchasing all of the shares in the
wholly owned subsidiary that currently holds Gold Fields' 51 per cent
joint venture interest. In exchange, Gold Fields will be issued with new
Woodjam Copper shares to take its aggregate holding in Woodjam
Copper to 19.9 per cent, and Gold Fields will retain a 2 per cent Net
Smelter Return Royalty (NSR) over all unencumbered land owned by
Woodjam Copper. This royalty may be reduced at any time to 1 per
cent by paying Gold Fields CAD$5,000,000 in cash. An NSR of 0,5 per
cent will apply to certain encumbered claims, subject to terms and
conditions.

In addition, Gold Fields' holding shall be topped-up (to a maximum of
50,000,000 additional shares) on the third anniversary of the
agreement, for no additional consideration so that Gold Fields' holding
at that time remains equal to 19.9 per cent of the then issued and
outstanding shares of Woodjam Copper. Gold Fields will have the
option of maintaining its interest by participating in future share
placements. Furthermore, Woodjam Copper will pay Gold Fields all
past accumulated refundable BC mineral exploration tax credits earned
in the current Gold Fields subsidiary. These will be settled in cash as
they are received. The agreement remains subject to acceptance by
the TSX-Venture Exchange, and the transaction is expected to close
once these regulatory approvals have been obtained.

CASH DIVIDEND

In line with the company's dividend policy to pay out a dividend of
between 25 and 35 per cent of its earnings, the Board has approved
and declared an interim dividend number 82 of 4 SA cents per ordinary
share (gross) in respect of the six months ended 30 June 2015. This
translates to 35 per cent of normalised earnings. The interim dividend
will be subject to the Dividend Withholding Tax that was introduced with
effect from 1 April 2012 of 15 per cent. In accordance with paragraphs
11.17(a)(i) and 11.17(c) of the JSE Listings Requirements, the following
additional information is disclosed:

- The dividend has been declared out of income reserves;
- The local dividends withholding tax rate is 15 per cent (fifteen per
centum);
- The gross local dividend amount is 4 SA cents per ordinary share
for shareholders exempt from dividends tax;
- The Dividend Withholding Tax of 15 per cent (fifteen per centum) will be
applicable to this dividend;
- The net local dividend amount is 3.400 SA cents per ordinary share
for shareholders liable to pay the dividends tax;
- Gold Fields currently has 778,014,626 ordinary shares in issue
(included in this number are 856,330 treasury shares); and
- Gold Fields' income tax number is 9160035607.

Shareholders are advised of the following dates in respect of the final
dividend:

Interim dividend number 82: 4 SA cents per share
Last date to trade cum-dividend: Friday 4 September 2015
Sterling and US dollar conversion date: Monday 7 September 2015
Shares commence trading ex-dividend: Monday 7 September 2015
Record date: Friday 11 September 2015
Payment of dividend: Monday 14 September 2015

Share certificates may not be dematerialised or rematerialised between
Monday, 7 September 2015 and Friday, 11 September 2015, both
dates inclusive.

Outlook

We maintain our full year production guidance of around 2.2 million
ounces, however, production at South Deep is now expected to be
approximately 6,500 kilograms (previously 7,100 kilograms), principally
due to a deliberate focus to fix the base for a sustainable long-term
future. The lower production at South Deep is offset by better than
expected performances at Tarkwa, St Ives, Granny Smith and Cerro
Corona. Financial year 2015 cost guidance of AISC of US$1,055 per
ounce and AIC of US$1,075 per ounce remains unchanged.

Capital expenditure for 2015 is forecast at US$660 million. It is
weighted to the first half of the year, which will have a resultant impact
on AIC.

The above is subject to safety performance which limits the impact of
safety-related stoppages and the forward looking statement on pages 4
and 28.

BASIS OF ACCOUNTING

The unaudited condensed consolidated quarterly financial statements
are prepared in accordance with International Financial Reporting
Standard, (IAS) 34 Interim Financial Reporting, the SAICA Financial
Reporting Guides as issued by the Accounting Practices Committee
and Financial Pronouncements as issued by Financial Reporting
Standards Council and the requirements of the Companies Act of
South Africa.

The accounting policies applied in the preparation of these quarterly
financial statements are in terms of International Financial Reporting
Standards and are consistent with those applied in the previous annual
financial statements.

LITIGATION STATEMENT

In relation to the Litigation statement, there has been no further update
since the release of the Integrated Annual Report on 31 March 2015
except for the SEC investigation.

SEC investigation into BEE transaction

On 22 June 2015 Gold Fields Limited was informed by the Foreign
Corrupt Practices Act Unit of the United States Securities Exchange
Commission (the Commission) that it has concluded its investigation in
connection with the Black Economic Empowerment (BEE) transaction
related to South Deep and, based on the information available to them,
will not recommend to the Commission that enforcement action be
taken against Gold Fields.

The notice has been provided under the guidelines set out in the final
paragraph of the Securities Act Release No 5310, which states in part
that the notice 'must in no way be construed as indicating that the party
has been exonerated or that no action may ultimately result from the
staff's investigation'.

N.J. Holland
Chief Executive Officer
20 August 2015

The financial statements are presented on a condensed consolidated basis

Income statement
Figures are in millions unless otherwise stated

UNITED STATES DOLLARS

Quarter Six months to

June March June June June
2015 2015 2014 2015 2014

Revenue 660.4 609.8 747.0 1,270.2 1,461.6
Operating costs, net (382.2) (366.0) (435.9) (748.2) (858.6)
- Operating costs (358.6) (355.5) (424.5) (714.1) (854.7)
- Gold inventory change (23.6) (10.5) (11.4) (34.1) (3.9)

Operating profit 278.2 243.8 311.1 522.0 603.0
Amortisation and depreciation (141.5) (141.0) (174.6) (282.5) (333.3)
Net operating profit 136.7 102.8 136.5 239.5 269.7
Net interest paid (15.2) (19.1) (18.8) (34.3) (37.7)
Share of equity accounted earnings after taxation (1.3) (2.7) (0.9) (4.0) (1.5)
(Loss)/gain on foreign exchange (1.8) 1.9 0.8 0.1 1.0
Gain/(loss) on financial instruments 1.7 (2.5) (0.1) (0.8) (0.1)
Share-based payments (3.0) (3.1) (5.0) (6.1) (16.1)
Long-term employee benefits (0.3) (3.1) (3.9) (3.4) (3.9)
Other (8.6) (10.1) (12.0) (18.7) (23.3)
Exploration and project costs (19.3) (13.4) (14.7) (32.7) (26.6)
Profit before royalties, taxation and non-recurring items 88.9 50.7 81.9 139.6 161.5
Non-recurring items (10.8) (0.3) (8.2) (11.1) (34.9)
Profit before royalties and taxation 78.1 50.4 73.7 128.5 126.6
Royalties (21.2) (18.3) (21.8) (39.5) (43.8)
Profit before taxation 56.9 32.1 51.9 89.0 82.8
Mining and income taxation (42.5) (44.3) (29.6) (86.8) (58.3)
- Normal taxation (36.9) (26.8) (24.1) (63.7) (42.0)
- Deferred taxation (5.6) (17.5) (5.5) (23.1) (16.3)

Net profit/(loss) 14.4 (12.2) 22.3 2.2 24.5
Attributable to:
- Owners of the parent 11.7 (13.9) 19.5 (2.2) 19.2
- Non-controlling interest 2.7 1.7 2.8 4.4 5.3
Non-recurring items:
Loss on sale of investments - - (0.8) - (0.8)
Profit/(loss) on sale of assets - 1.8 (2.6) 1.8 (2.6)
Restructuring costs (3.0) (1.5) (2.2) (4.5) (20.8)
Impairment of investments and assets (7.6) (0.8) 4.5 (8.4) (0.6)
Other (0.2) 0.2 (7.1) - (10.1)
Total non-recurring items (10.8) (0.3) (8.2) (11.1) (34.9)
Taxation 1.0 (0.1) 2.9 0.9 9.6
Net non-recurring items after tax (9.8) (0.4) (5.3) (10.2) (25.3)
Net earnings/(loss) 11.7 (13.9) 19.5 (2.2) 19.2
Net earnings/(loss) per share (cents) 2 (2) 2 - 2
Diluted earnings/(loss) per share (cents) 2 (2) 2 - 2

Headline earnings/(loss) 19.4 (14.3) 17.6 5.1 22.4
Headline earnings/(loss) per share (cents) 3 (2) 2 1 3
Diluted headline earnings/(loss) per share (cents) 3 (2) 2 1 3
Net earnings/(loss) excluding gains and losses on foreign exchange,
financial instruments and non-recurring items after royalties and taxation 21.5 (13.3) 24.6 8.2 45.1
Net earnings/(loss) per share excluding gains and losses on foreign
exchange, financial instruments and non-recurring items after royalties and
taxation (cents) 3 (2) 3 1 6
South African rand/United States dollar conversion rate 12.06 11.71 10.53 11.89 10.69
United States dollar/Australian dollar conversion rate 0.78 0.79 0.93 0.78 0.92
Gold equivalent sold - managed eq oz (000) 562 509 586 1,071 1,143
Gold equivalent price received US$/eq oz 1,174 1,198 1,275 1,186 1,279
Figures may not add as they are rounded independently.

The unaudited consolidated financial statements for the quarter ended 30 June 2015 have been prepared by the corporate accounting staff of Gold Fields Limited
headed by Mrs Tzvet Ilarionova, the Group's Financial Controller. This process was supervised by Mr Paul Schmidt, the Group's Chief Financial Officer.

Statement of comprehensive income
Figures are in millions unless otherwise stated

UNITED STATES DOLLARS

Quarter Six months to

June March June June June
2015 2015 2014 2015 2014
Net profit/(loss) 14.4 (12.2) 22.3 2.2 24.5
Other comprehensive (loss)/income, net of tax (51.7) (105.2) 81.7 (156.9) (7.5)
Marked to market valuation of listed investments (0.4) 0.4 (0.4) - 1.0
Currency translation adjustments and other (51.3) (105.6) 82.1 (156.9) (8.5)

Total comprehensive (loss)/income (37.3) (117.4) 104.0 (154.7) 17.0
Attributable to:
- Owners of the parent (39.9) (119.1) 101.4 (159.0) 12.4
- Non-controlling interest 2.6 1.7 2.6 4.3 4.6
(37.3) (117.4) 104.0 (154.7) 17.0

Statement of financial position
Figures are in millions unless otherwise stated

UNITED STATES DOLLARS

Quarter

June Dec
2015 2014
Property, plant and equipment 4,814.7 4,895.7
Goodwill 366.7 385.7
Non-current assets 166.5 163.2
Investments 247.0 257.9
Deferred taxation 80.5 62.4
Current assets 953.6 1,092.8
- Other current assets 498.5 594.8
- Cash and deposits 415.1 458.0
- Assets held for sale 40.0 40.0

Total assets 6,629.0 6,857.7

Shareholders' equity 3,497.4 3,663.3
Deferred taxation 426.8 387.0
Long-term loans 1,817.0 1,765.7
Environmental rehabilitation provisions 301.3 311.2
Long-term employee benefits 11.5 8.3
Other long-term provisions 7.5 9.1
Current liabilities 567.5 713.1
- Other current liabilities 492.5 567.9
- Current portion of long-term loans 75.0 145.2
Total equity and liabilities 6,629.0 6,857.7
US dollar/South African rand conversion rate 12.16 11.56
US dollar/Australian dollar conversion rate 0.78 0.81
Net debt 1,476.9 1,452.9

Hedging/Derivatives

The Group's policy is to remain unhedged to the gold price. However, hedges are sometimes undertaken on a project specific basis as follows:
- to protect cash flows at times of significant expenditure;
- for specific debt servicing requirements; and
- to safeguard the viability of higher cost operations.

Gold Fields may from time to time establish currency financial instruments to protect underlying cash flows.

Diesel hedge *

Australia
On 26 November 2014, Gold Fields Australia (Pty) Limited entered into Singapore Gasoil 10ppm cash settled swap transaction contracts. A contract for 63,000
barrels based on 50 per cent of estimated usage for the period January to March 2015 was committed at a fixed price of US$94.00 per barrel and a further 283,500
barrels based on 75 per cent of estimated usage was committed at a price of US$96.00 per barrel for the period April to December 2015. Brent Crude at the time of
the transaction was US$78.45 per barrel.

At the reporting date, the fair value was negative US$3.9 million.

* Do not qualify for hedge accounting and are accounted for as derivative financial instruments in the income statement.

Statement of changes in equity
Figures are in millions unless otherwise stated

UNITED STATES DOLLARS

Share capital Other Retained Non-controlling Total
and premium reserves earnings interest equity
Balance as at 31 December 2014 3,470.8 (1,636.5) 1,704.6 124.5 3,663.3
Total comprehensive (loss)/income - (156.8) (2.2) 4.3 (154.7)
(Loss)/profit for the period - - (2.2) 4.4 (2.2)
Other comprehensive losses - (156.8) - (0.1) (156.9)
Dividends declared - - (12.8) (4.6) (17.4)
Share-based payments - 6.1 - - 6.1
Exercise of employee share options 0.1 - - - 0.1
Balance as at 30 June 2015 3,470.9 (1,787.2) 1,689.6 124.2 3,497.4

UNITED STATES DOLLARS

Share capital Other Retained Non-controlling Total
and premium reserves earnings interest equity
Balance as at 31 December 2013 3,470.7 (1,340.8) 1,721.6 193.8 4,045.2
Total comprehensive (loss)/income - (6.8) 19.2 4.6 17.0
Profit for the period - - 19.2 5.3 24.5
Other comprehensive losses - (6.8) - (0.7) (7.5)
Dividends declared - - (15.7) (10.4) (26.1)
Share-based payments - 16.1 - - 16.1
Loans received from non-controlling interest - - - 1.6 1.6
Exercise of employee share options 0.1 - - - 0.1
Balance as at 30 June 2014 3,470.8 (1,331.5) 1,725.1 189.6 4,053.9

Debt maturity ladder
Figures are in millions unless otherwise stated
UNITED STATES DOLLARS

1 Jan 2017 to
31 Dec 2015 31 Dec 2016 31 Dec 2020 Total
Uncommitted loan facilities
US dollar million - - - -
Rand million 1,297.0 - - 1,297.0
Rand debt translated to dollar 106.7 - - 106.7
Total (US$'m) 106.7 - - 106.7
Committed loan facilities
US dollar million 75.0 - 2,647.0 2,722.0
Rand million - 1,000.0 1,500.0 2,500.0
Rand debt translated to dollar - 82.2 123.4 205.6
Total (US$'m) 75.0 82.2 2,770.4 2,927.6
Total (US$'m) - Uncommitted and committed loan
facilities 181.7 82.2 2,770.4 3,034.3
Utilisation - Uncommitted loan facilities
US dollar million - - - -
Rand million - - - -
Rand debt translated to dollar - - - -
Total (US$'m) - - - -
Utilisation - Committed loan facilities (including US$ bond)
US dollar million 75.0 - 1,817.0 1,892.0
Rand million - - - -
Rand debt translated to dollar - - - -
Total (US$'m) 75.0 - 1,817.0 1,892.0
Total (US$'m) - Utilisation - Uncommitted and committed loan
facilities 75.0 - 1,817.0 1,892.0

Exchange rate: US$1 = R12.16 being the closing rate at the end of the June 2015 quarter.

Statement of cash flows
Figures are in millions unless otherwise stated

UNITED STATES DOLLARS

Quarter Six months to

June March June June June
2015 2015 2014 2015 2014
Cash flows from operating activities 191.3 150.2 220.3 341.5 418.2
Profit before royalties, tax and non-recurring items 88.9 50.7 81.9 139.6 161.5
Non-recurring items (10.8) (0.3) (8.2) (11.1) (34.9)
Amortisation and depreciation 141.5 141.0 174.6 282.5 333.3
South Deep BEE dividend - (1.7) (1.9) (1.7) (1.9)
Change in working capital 8.9 34.5 (4.4) 43.4 22.4
Royalties and taxation paid (44.3) (74.2) (27.6) (118.5) (80.5)
Other non-cash items 7.1 0.2 5.9 7.3 18.3

Dividends paid (4.6) (12.9) (10.4) (17.5) (26.1)
Owners of the parent - (12.8) - (12.8) (15.7)
Non-controlling interest holders (4.6) (0.1) (10.4) (4.7) (10.4)

Cash flows from investing activities (161.1) (179.0) (155.5) (340.1) (299.6)
Capital expenditure - additions (158.3) (174.8) (153.4) (333.1) (294.7)
Capital expenditure - proceeds on disposal 0.6 1.8 0.9 2.4 1.0
Purchase of investments - - - - (1.6)
Proceeds on disposal of investments - - 0.2 - 2.0
Environmental payments (3.4) (6.0) (3.2) (9.4) (6.3)

Cash flows from financing activities (10.0) (8.0) (80.2) (18.0) (71.3)
Loans received 5.0 341.2 96.4 346.2 224.7
Loans repaid (15.0) (349.2) (177.3) (364.2) (297.6)
Non-controlling interest holders' loans received - - 0.7 - 1.6

Net cash inflow/(outflow) 15.6 (49.7) (25.8) (34.1) 21.2
Translation adjustment (2.8) (6.0) 2.7 (8.8) 4.5
Cash at beginning of period 402.3 458.0 373.8 458.0 325.0
Cash at end of period 415.1 402.3 350.7* 415.1 350.7*
Cash flow from operating activities less net capital expenditure and
environmental payments 30.2 (28.8) 64.6 1.4 118.2

* Cash at end of June 2014 comprised cash of US$350.1 million as in the Statement of financial position and US$0.6 million relating to Chucapaca project cash reallocated to assets held for sale.

Reconciliation of headline earnings with net earnings
Figures are in millions unless otherwise stated
UNITED STATES DOLLARS

Quarter Year to date

June March June June June
2015 2015 2014 2015 2014
Net earnings/(loss) 11.7 (13.9) 19.5 (2.2) 19.2
Loss on sale of investments - - 0.8 - 0.8
(Profit)/loss on sale of assets - (1.8) 2.6 (1.8) 2.6
Taxation effect on sale of assets 0.1 0.6 (0.8) 0.7 (0.8)
Impairment of investments and assets 7.6 0.8 (4.5) 8.4 0.6
Headline earnings/(loss) 19.4 (14.3) 17.6 5.1 22.4
Headline earnings/(loss) per share - cents 3 (2) 2 1 3
Based on headline earnings/(loss) as given above divided by 774,747,163
(March 2015 - 772,474,860 and June 2014 - 768,872,415) being the weighted
average number of ordinary shares in issue.

Segmental operating and financial results

South South
Africa West Africa Region America
Region Region
Total Mine
Operations Ghana Peru
South Cerro
UNITED STATES DOLLARS Deep Total Tarkwa Damang Corona
Operating Results
Ore milled/treated (000 tonnes) June 2015 8,160 298 4,514 3,421 1,093 1,633
March 2015 8,173 262 4,402 3,385 1,017 1,597
Year to date 16,333 560 8,916 6,806 2,110 3,230
Yield (grams per tonne) June 2015 2.1 4.0 1.3 1.4 1.2 1.6
March 2015 2.0 4.3 1.2 1.2 1.2 1.3
Year to date 2.0 4.2 1.3 1.3 1.2 1.4
Gold produced (000 managed equivalent ounces) June 2015 554.9 38.7 197.7 156.2 41.5 83.6
March 2015 519.1 36.3 174.8 135.8 39.0 66.6
Year to date 1,074.0 75.0 372.5 292.0 80.5 150.2
Gold sold (000 managed equivalent ounces) June 2015 562.1 38.7 197.7 156.2 41.5 90.8
March 2015 508.9 36.3 174.8 135.8 39.0 56.4
Year to date 1,071.0 75.0 372.5 292.0 80.5 147.2
Gold price received (dollar per equivalent ounce) June 2015 1,174 1,194 1,196 1,196 1,198 1,083
March 2015 1,198 1,214 1,218 1,218 1,219 1,021
Year to date 1,186 1,204 1,207 1,207 1,208 1,059
Operating costs (dollar per tonne) June 2015 44 196 29 24 44 23
March 2015 44 207 29 25 44 21
Year to date 44 201 29 25 44 22
All-in-sustaining costs (dollar per ounce) June 2015 1,026 1,895 1,029 938 1,370 381
March 2015 1,137 1,929 1,299 1,299 1,299 493
Year to date 1,078 1,912 1,156 1,106 1,336 423
Total all-in-cost (dollar per ounce) June 2015 1,031 1,986 1,029 938 1,370 381
March 2015 1,146 2,055 1,299 1,299 1,299 493
Year to date 1,086 2,020 1,156 1,108 1,336 423
Financial Results ($ million)
Revenue June 2015 660.4 46.2 236.5 186.8 49.7 98.4
March 2015 609.8 44.1 213.0 165.4 47.6 57.6
Year to date 1,270.2 90.3 449.6 352.4 97.2 156.0
Net operating costs June 2015 (382.2) (58.5) (136.4) (86.6) (49.8) (42.6)
March 2015 (366.0) (54.2) (125.4) (81.6) (43.8) (28.4)
Year to date (748.2) (112.7) (261.8) (168.2) (93.6) (71.0)
- Operating costs June 2015 (358.6) (58.5) (130.9) (82.9) (48.0) (37.3)
March 2015 (355.5) (54.2) (129.3) (84.9) (44.4) (33.4)
Year to date (714.1) (112.7) (260.2) (167.8) (92.4) (70.7)
- Gold inventory change June 2015 (23.6) - (5.5) (3.7) (1.8) (5.3)
March 2015 (10.5) - 3.8 3.3 0.5 5.0
Year to date (34.1) - (1.7) (0.4) (1.2) (0.3)
Operating profit/(loss) June 2015 278.2 (12.3) 100.1 100.2 (0.1) 55.8
March 2015 243.8 (10.1) 87.5 83.8 3.7 29.2
Year to date 522.0 (22.4) 187.8 184.2 3.6 85.0
Amortisation of mining assets June 2015 (141.2) (14.9) (42.4) (36.0) (6.4) (22.8)
March 2015 (140.7) (17.0) (44.5) (38.9) (5.6) (20.6)
Year to date (281.9) (31.9) (86.9) (74.9) (12.0) (43.4)
Net operating profit/(loss) June 2015 137.0 (27.1) 57.7 64.2 (6.5) 33.0
March 2015 103.2 (27.1) 43.0 44.8 (1.8) 8.6
Year to date 240.2 (54.3) 100.9 109.3 (8.4) 41.7
Other expenses June 2015 (19.2) (1.8) (5.4) (3.9) (1.5) (2.6)
March 2015 (27.5) (4.6) (4.1) (2.9) (1.2) (4.4)
Year to date (46.7) (6.4) (9.5) (6.8) (2.7) (7.0)
Profit/(loss) before royalties and taxation June 2015 117.8 (29.0) 52.3 60.4 (8.1) 30.4
March 2015 75.6 (31.7) 38.9 41.9 (3.1) 4.2
Year to date 193.4 (60.7) 91.3 102.5 (11.2) 34.6
Royalties, mining and income taxation June 2015 (57.9) 7.7 (25.9) (27.1) 1.2 (18.5)
March 2015 (59.0) 10.3 (20.3) (19.9) (0.4) (23.9)
Year to date (119.2) 18.0 (46.2) (47.0) 0.8 (42.4)
- Normal taxation June 2015 (24.4) 2.3 (11.5) (11.5) - (15.2)
March 2015 (7.9) (2.3) (2.3) (2.3) - (5.6)
Year to date (34.6) - (13.8) (13.8) - (20.8)
- Royalties June 2015 (21.2) (0.3) (11.8) (9.3) (2.5) (2.1)
March 2015 (18.3) (0.2) (10.6) (8.3) (2.4) (0.2)
Year to date (39.5) (0.5) (22.5) (17.6) (4.9) (2.3)
- Deferred taxation June 2015 (12.3) 8.0 (2.6) (6.3) 3.7 (1.1)
March 2015 (32.8) 10.5 (7.3) (9.3) 2.0 (18.1)
Year to date (45.1) 18.5 (9.9) (15.6) 5.7 (19.2)
Profit/(loss) before non-recurring items June 2015 59.9 (21.3) 26.4 33.3 (6.8) 11.9
March 2015 16.6 (21.5) 18.6 22.1 (3.5) (19.7)
Year to date 74.1 (42.7) 45.2 55.5 (10.3) (7.8)
Non-recurring items June 2015 (3.0) 0.1 (0.6) (0.5) (0.1) -
March 2015 0.3 (0.7) (0.8) (0.5) (0.2) -
Year to date (2.7) (0.6) (1.3) (1.0) (0.3) -
Net profit/(loss) June 2015 56.8 (21.4) 25.9 32.8 (6.9) 11.9
March 2015 16.9 (22.1) 17.9 21.5 (3.7) (19.7)
Year to date 71.4 (43.4) 43.9 54.5 (10.6) (7.9)
Net profit/(loss) excluding gains and losses on June 2015 51.8 (21.2) 27.3 33.9 (6.6) 10.9
foreign exchange, financial instruments and March 2015 19.8 (22.6) 17.9 21.5 (3.6) (19.2)
non-recurring items Year to date 71.6 (43.8) 45.1 55.4 (10.3) (8.3)

Capital expenditure June 2015 (158.1) (16.5) (52.3) (48.2) (4.1) (12.3)
March 2015 (174.7) (18.7) (88.6) (84.5) (4.1) (6.5)
Year to date (332.9) (35.2) (140.9) (132.7) (8.2) (18.8)

Average exchange rates were US$1 = R12.06 and US$1 = R11.71 for the June 2015 and March 2015 quarters respectively.
The Australian/US dollar exchange rates were A$1 = US$0.78 and A$1 = US$0.79 for the June 2015 and March 2015 quarters respectively.

Segmental operating and financial results

SOUTH
Australia Region# AUSTRALIAN DOLLARS(1) AFRICAN
RAND(2)

South Africa
Australia Australia Region# Region

UNITED STATES DOLLARS Agnew/ Granny Agnew/ Granny
Total St Ives Lawlers Darlot Smith Total St Ives Lawlers Darlot Smith South Deep
Operating Results
Ore milled/treated June 2015 1,715 912 314 128 361 1,715 912 314 128 361 298
(000 tonnes) March 2015 1,912 1,144 312 86 370 1,912 1,144 312 86 370 262
Year to date 3,627 2,056 626 214 731 3,627 2,056 626 214 731 560
Yield June 2015 4.2 3.0 5.3 4.2 6.4 4.2 3.0 5.3 4.2 6.4 4.0
(grams per tonne) March 2015 3.9 2.7 5.9 4.0 6.1 3.9 2.7 5.9 4.0 6.1 4.3
Year to date 4.1 2.8 5.6 4.1 6.2 4.1 2.8 5.6 4.1 6.2 4.2
Gold produced June 2015 235.0 89.2 53.8 17.4 74.6 235.0 89.2 53.8 17.4 74.6 1,203
(000 managed March 2015 241.4 98.7 59.6 11.2 72.0 241.4 98.7 59.6 11.2 72.0 1,129
equivalent ounces) Year to date 476.4 187.9 113.4 28.5 146.6 476.4 187.9 113.4 28.5 146.6 2,332
Gold sold June 2015 235.0 89.2 53.8 17.4 74.6 235.0 89.2 53.8 17.4 74.6 1,203
(000 managed March 2015 241.4 98.7 59.6 11.2 72.0 241.4 98.7 59.6 11.2 72.0 1,129
equivalent ounces) Year to date 476.4 187.9 113.4 28.5 146.6 476.4 187.9 113.4 28.5 146.6 2,332
Gold price received June 2015 1,190 1,190 1,191 1,184 1,190 1,527 1,529 1,528 1,522 1,529 463,082
(dollar per March 2015 1,223 1,226 1,219 1,229 1,222 1,550 1,553 1,545 1,557 1,548 457,031
equivalent ounce) Year to date 1,206 1,207 1,204 1,204 1,205 1,540 1,542 1,538 1,538 1,539 460,152
Operating costs June 2015 77 50 118 112 97 99 64 152 144 125 2,367
(dollar per tonne) March 2015 73 47 117 173 90 92 60 148 219 115 2,421
Year to date 75 48 117 137 94 95 62 150 174 120 2,392
All-in-sustaining costs June 2015 1,008 1,136 1,077 1,164 770 1,288 1,454 1,357 1,500 989 734,784
(dollar per ounce) March 2015 978 1,029 951 1,757 810 1,240 1,304 1,206 2,226 1,027 726,648
Year to date 990 1,079 1,001 1,400 789 1,263 1,375 1,277 1,786 1,008 731,017
Total all-in-cost June 2015 1,008 1,136 1,077 1,164 770 1,288 1,454 1,357 1,500 989 769,847
(dollar per ounce) March 2015 978 1,029 951 1,757 810 1,240 1,304 1,206 2,226 1,027 774,335
Year to date 990 1,079 1,001 1,400 789 1,263 1,375 1,277 1,786 1,008 772,702
Financial Results ($ million)
Revenue June 2015 279.6 106.2 64.1 20.6 88.8 359.1 136.4 82.3 26.4 114.0 557.1
March 2015 295.2 120.9 72.7 13.7 87.9 374.2 153.3 92.1 17.4 111.5 516.0
Year to date 574.4 226.8 136.5 34.3 176.7 733.5 289.7 174.4 43.9 225.6 1,073.1
Net operating costs June 2015 (144.9) (60.5) (35.5) (13.3) (35.5) (186.3) (77.8) (45.7) (17.1) (45.7) (705.3)
March 2015 (158.0) (68.3) (37.2) (14.6) (37.9) (200.2) (86.6) (47.1) (18.6) (48.0) (634.4)
Year to date (302.7) (128.7) (72.7) (28.0) (73.4) (386.5) (164.3) (92.8) (35.7) (93.7) (1,339.7)
- Operating costs June 2015 (132.0) (45.3) (37.1) (14.4) (35.2) (169.5) (58.2) (47.6) (18.4) (45.2) (705.3)
March 2015 (138.7) (54.0) (36.4) (14.9) (33.5) (175.8) (68.4) (46.1) (18.9) (42.4) (634.4)
Year to date (270.5) (99.2) (73.4) (29.2) (68.7) (345.5) (126.6) (93.8) (37.3) (87.7) (1,339.7)
- Gold inventory change June 2015 (12.9) (15.1) 1.6 1.0 (0.3) (16.8) (19.6) 2.0 1.3 (0.5) -
March 2015 (19.3) (14.3) (0.8) 0.2 (4.4) (24.4) (18.2) (1.0) 0.3 (5.6) -
Year to date (32.3) (29.5) 0.8 1.2 (4.7) (41.4) (37.7) 1.0 1.6 (6.0) -
Operating profit/(loss) June 2015 134.7 45.7 28.5 7.2 53.3 172.8 58.6 36.6 9.3 68.4 (148.2)
March 2015 137.2 52.6 35.5 (0.9) 50.1 173.9 66.6 45.0 (1.2) 63.5 (118.4)
Year to date 271.7 98.2 63.9 6.4 103.3 347.0 125.4 81.6 8.1 131.9 (266.6)
Amortisation of June 2015 (61.1) (78.7) (179.4)
mining assets March 2015 (58.6) (74.2) (199.4)
Year to date (119.7) (152.9) (378.8)
Net operating June 2015 73.6 94.1 (327.6)
profit/(loss) March 2015 78.7 99.7 (317.7)
Year to date 152.0 194.1 (645.4)
Other expenses June 2015 (9.3) (12.0) (22.9)
March 2015 (14.4) (18.3) (53.7)
Year to date (23.7) (30.3) (76.6)
Profit/(loss) before June 2015 64.3 82.1 (350.5)
royalties and March 2015 64.3 81.4 (371.5)
taxation Year to date 128.3 163.8 (722.0)
Royalties, mining June 2015 (23.6) (30.3) 93.9
and income March 2015 (25.1) (31.8) 120.3
taxation Year to date (48.7) (62.1) 214.2
- Normal taxation June 2015 - - -
March 2015 - - -
Year to date - - -
- Royalties June 2015 (7.0) (9.1) (2.8)
March 2015 (7.2) (9.1) (2.6)
Year to date (14.2) (18.2) (5.4)
- Deferred taxation June 2015 (16.5) (21.4) 96.7
March 2015 (17.9) (22.6) 122.9
Year to date (34.4) (44.0) 219.6
Profit/(loss) before June 2015 40.7 51.7 (256.6)
non-recurring March 2015 39.2 49.7 (251.2)
items Year to date 79.6 101.7 (507.8)
Non-recurring items June 2015 (2.5) (3.2) -
March 2015 1.7 2.2 (7.7)
Year to date (0.8) (1.0) (7.7)
Net profit/(loss) June 2015 38.2 48.5 (256.6)
March 2015 40.9 51.8 (258.9)
Year to date 78.8 100.6 (515.5)
Net profit/(loss) June 2015 35.1 40.8 (256.6)
excluding gains and March 2015 43.7 50.8 (264.3)
losses on foreign ex- Year to date 78.8 91.6 (520.9)
change, financial and
non-recurring items

Capital expenditure June 2015 (77.0) (34.8) (18.2) (6.1) (18.0) (98.9) (44.7) (23.4) (7.8) (23.1) (200.0)
March 2015 (61.0) (25.1) (16.1) (4.1) (15.7) (77.3) (31.8) (20.4) (5.2) (19.9) (218.5)
Year to date (138.0) (59.9) (34.3) (10.2) (33.7) (176.2) (76.5) (43.8) (13.0) (43.0) (418.5)

# As a significant portion of the acquisition price was allocated to tenements on endowment ounces and also as the Australian o perations are entitled to transfer and then off-set tax losses
from one company to another, it is not meaningful to split the income statement below operating profit.

(1) For Australia, all financial numbers are in Australian dollar.
(2) For South Africa, all financial numbers are in Rand and Rand per kilogram.

Figures may not add as they are rounded independently.

All-in-costs
WORLD GOLD COUNCIL INDUSTRY STANDARD
Figures are in US dollar million unless otherwise stated
South South
Africa West Africa Region America
Region
Total Group
Operations Ghana Peru
UNITED STATES DOLLARS Cerro
South Deep Total Tarkwa Damang Corona

Operating costs(1) June 2015 (358.6) (58.5) (130.9) (82.9) (48.0) (37.3)
March 2015 (355.5) (54.2) (129.3) (84.9) (44.4) (33.4)
Year to date (714.1) (112.7) (260.2) (167.8) (92.4) (70.7)
Gold inventory change June 2015 (23.6) - (5.5) (3.7) (1.8) (5.3)
March 2015 (10.5) - 3.8 3.3 0.5 5.0
Year to date (34.1) - (1.7) (0.4) (1.2) (0.3)
Royalties June 2015 (21.2) (0.3) (11.8) (9.3) (2.5) (2.1)
March 2015 (18.3) (0.2) (10.6) (8.3) (2.4) (0.2)
Year to date (39.5) (0.5) (22.5) (17.6) (4.9) (2.3)
Realised gains/losses on June 2015 (2.3) - - - - -
commodity cost hedges March 2015 (3.8) - - - - -
Year to date (6.1) - - - - -
Community/social June 2015 (2.8) (0.5) (0.9) (0.8) (0.1) (1.4)
responsibility costs March 2015 (1.8) (0.4) (0.6) (0.6) - (0.8)
Year to date (4.6) (0.9) (1.5) (1.4) (0.1) (2.2)
Non-cash remuneration - June 2015 (3.0) (0.3) (0.5) (0.4) (0.1) (0.4)
share-based payments March 2015 (3.1) (0.3) (0.5) (0.4) (0.1) (0.3)
Year to date (6.1) (0.6) (1.0) (0.8) (0.2) (0.7)
Cash remuneration (long-term June 2015 (0.3) (0.6) (0.5) (0.3) (0.2) (0.1)
employee benefits) March 2015 (3.1) (0.7) (1.0) (0.9) (0.2) (0.4)
Year to date (3.4) (1.3) (1.6) (1.2) (0.4) (0.5)
Other June 2015 (2.3) - - - - -
March 2015 (2.0) - - - - -
Year to date (4.3) - - - - -
By-product credits June 2015 42.3 - 0.1 0.1 - 42.0
March 2015 24.6 0.1 0.8 0.8 - 23.5
Year to date 66.9 0.1 0.9 0.9 - 65.5
Rehabilitation amortisation June 2015 (6.5) (0.2) (1.2) (1.0) (0.2) (1.2)
and interest March 2015 (6.7) (0.2) (1.1) (1.0) (0.1) (1.2)
Year to date (13.3) (0.4) (2.3) (2.0) (0.3) (2.5)
Sustaining capital June 2015 (154.8) (13.0) (52.3) (48.2) (4.1) (12.3)
expenditure March 2015 (170.2) (14.1) (88.6) (84.5) (4.1) (6.5)
Year to date (325.0) (27.1) (140.9) (132.7) (8.2) (18.8)
All-in sustaining costs(2) June 2015 (534.1) (73.3) (203.3) (146.5) (56.8) (18.1)
March 2015 (550.1) (70.0) (227.1) (176.4) (50.7) (14.3)
Year to date (1,083.4) (143.3) (430.6) (323.0) (107.6) (32.5)
Exploration, feasibility June 2015 (11.9) - - - - -
and evaluation costs March 2015 (5.6) - - - - -
Year to date (17.5) - - - - -
Non sustaining June 2015 (3.5) (3.5) - - - -
capital expenditure March 2015 (4.6) (4.6) - - - -
Year to date (8.1) (8.1) - - - -
Total all-in cost(3) June 2015 (549.5) (76.8) (203.3) (146.5) (56.8) (18.1)
March 2015 (560.6) (74.6) (227.1) (176.4) (50.7) (14.3)
Year to date (1,109.0) (151.4) (430.6) (323.0) (107.6) (32.5)

Total all-in sustaining June 2015 (534.1) (73.3) (203.3) (146.5) (56.8) (18.1)
cost March 2015 (550.4) (70.0) (227.1) (176.4) (50.7) (14.3)
Year to date (1,083.4) (143.3) (430.6) (323.0) (107.6) (32.5)
Gold only ounces sold June 2015 518.9 38.7 197.7 156.2 41.5 47.6
- (000 ounces) March 2015 481.6 36.3 174.8 135.8 39.0 29.1
Year to date 1,000.5 75.0 372.5 292.0 80.5 76.7
AISC per ounce of gold sold June 2015 1,029 1,895 1,029 938 1,370 381
US$/oz March 2015 1,143 1,929 1,299 1,299 1,299 493
Year to date 1,083 1,912 1,156 1,106 1,336 423

Total all-in cost June 2015 (549.5) (76.8) (203.3) (146.5) (56.8) (18.1)
March 2015 (560.6) (74.6) (227.1) (176.4) (50.7) (14.3)
Year to date (1,109.0) (151.4) (430.6) (323.0) (107.6) (32.5)
Gold only ounces sold June 2015 518.9 38.7 197.7 156.2 41.5 47.6
- (000 ounces) March 2015 481.6 36.3 174.8 135.8 39.0 29.1
Year to date 1,000.5 75.0 372.5 292.0 80.5 76.7
AIC per ounce of gold sold June 2015 1,059 1,986 1,029 938 1,370 381
US$/oz March 2015 1,164 2,055 1,299 1,299 1,299 493
Year to date 1,108 2,020 1,156 1,108 1,336 423
DEFINITIONS
All-in costs are calculated in accordance with the World Gold Council Industry standard.
(1) Operating costs - As published and includes all mining and processing costs, third party refining costs, permitting costs and corporate G&A charges.
(2) All-in sustaining costs - Include operating costs and costs detailed above, including sustaining capital expenditure based on managed gold sales.
(3) Total all-in cost - Includes sustaining and group costs, excluding income tax, M&A activity, working capital, impairments (other than inventory impairments), financing costs, one-time
severance charges and items to normalise earnings.

All-in-costs
WORLD GOLD COUNCIL INDUSTRY STANDARD
Figures are in US dollar million unless otherwise stated
Australia Region
Corporate
Australia and
projects
UNITED STATES DOLLARS Agnew/
Total St Ives Lawlers Darlot Granny Smith

Operating costs(1) June 2015 (132.0) (45.3) (37.1) (14.4) (35.2) -
March 2015 (138.7) (54.0) (36.4) (14.9) (33.5) -
Year to date (270.5) (99.2) (73.4) (29.2) (68.7) -
Gold inventory change June 2015 (12.9) (15.1) 1.6 1.0 (0.3) -
March 2015 (19.3) (14.3) (0.8) 0.2 (4.4) -
Year to date (32.2) (29.5) 0.8 1.2 (4.7) -
Royalties June 2015 (8.1) (2.7) (2.7) (0.5) (2.2) -
March 2015 (6.1) (3.1) (0.5) (0.3) (2.2) -
Year to date (14.2) (5.8) (3.2) (0.8) (4.4) -
Realised gains/losses on June 2015 (2.3) (0.9) (0.3) - (1.0) -
commodity cost hedges March 2015 (3.8) (1.6) (0.5) (0.2) (1.6) -
Year to date (6.2) (2.5) (0.8) (0.2) (2.6) -
Community/social June 2015 - - - - - -
responsibility costs March 2015 - - - - - -
Year to date - - - - - -
Non-cash remuneration - June 2015 (0.7) (0.3) (0.2) - (0.1) (1.2)
share-based payments March 2015 (0.7) (0.4) (0.2) (0.1) (0.1) (1.2)
Year to date (1.5) (0.7) (0.4) (0.1) (0.2) (2.4)
Cash remuneration (long- June 2015 (0.2) - (0.1) - (0.1) 0.9
term employee benefits) March 2015 (1.4) (0.5) (0.3) (0.2) (0.4) 0.4
Year to date (1.6) (0.5) (0.4) (0.2) (0.5) 1.3
Other June 2015 - - - - - (2.3)
March 2015 - - - - - (2.0)
Year to date - - - - - (4.3)
By-product credits June 2015 0.2 0.2 - - - -
March 2015 0.2 0.1 0.1 - - -
Year to date 0.4 0.3 0.1 - - -
Rehabilitation amortisation June 2015 (3.9) (2.3) (0.9) (0.2) (0.5) -
and interest March 2015 (4.1) (2.6) (0.9) (0.2) (0.4) -
Year to date (8.0) (4.9) (1.8) (0.4) (0.9) -
Sustaining capital expenditure June 2015 (77.0) (34.8) (18.2) (6.1) (18.0) -
March 2015 (61.0) (25.1) (16.1) (4.1) (15.7) -
Year to date (138.0) (59.9) (34.3) (10.2) (33.7) -
All-in sustaining costs(2) June 2015 (236.9) (101.4) (58.0) (20.2) (57.4) (2.6)
March 2015 (236.1) (101.5) (56.7) (19.6) (58.3) (2.8)
Year to date (471.8) (202.7) (113.5) (39.9) (115.7) (5.4)
Exploration, feasibility June 2015 - - - - - (11.9)
and evaluation costs March 2015 - - - - - (4.5)
Year to date - - - - - (17.5)
Non sustaining capital June 2015 - - - - - -
expenditure March 2015 - - - - - -
Year to date - - - - - -
Total all-in cost(3) June 2015 (236.9) (101.4) (58.0) (20.2) (57.4) (14.5)
March 2015 (236.1) (101.5) (56.7) (19.6) (58.3) (8.4)
Year to date (471.8) (202.7) (113.5) (39.9) (115.7) (22.9)

Total all-in sustaining cost June 2015 (236.9) (101.4) (58.0) (20.2) (57.4) (2.6)
March 2015 (236.1) (101.5) (56.7) (19.6) (58.3) (2.8)
Year to date (471.8) (202.7) (113.5) (39.9) (115.7) (5.4)
Gold only ounces sold June 2015 235.0 89.2 53.8 17.4 74.6 -
- (000 ounces) March 2015 241.4 98.7 59.6 11.2 72.0 -
Year to date 476.4 187.9 113.4 28.5 146.5 -
AISC per ounce of gold sold June 2015 1,008 1,136 1,077 1,164 770 -
US$/oz March 2015 978 1,029 951 1,757 810 -
Year to date 990 1,079 1,001 1,400 789 -

Total all-in cost June 2015 (236.9) (101.4) (58.0) (20.2) (57.4) (14.5)
March 2015 (236.1) (101.5) (56.7) (19.6) (58.3) (8.4)
Year to date (471.8) (202.7) (113.5) (39.9) (115.7) (22.9)
Gold only ounces sold June 2015 235.0 89.2 53.8 17.4 74.6 -
- (000 ounces) March 2015 241.4 98.7 59.6 11.2 72.0 -
Year to date 476.4 187.9 113.4 28.5 146.5 -
AIC per ounce of gold sold June 2015 1,008 1,136 1,077 1,164 770 -
US$/oz March 2015 978 1,029 951 1,757 810 -
Year to date 990 1,079 1,001 1,400 789 -

All-in sustaining costs and all-in costs gross of by-product credits per
equivalent ounce of gold sold
WORLD GOLD COUNCIL INDUSTRY STANDARD

Figures are in US dollar million unless otherwise stated
South South
Africa West Africa Region America
Region
Total Group
Operations Ghana Peru

UNITED STATES DOLLARS South Cerro
Deep Total Tarkwa Damang Corona

All-in sustaining costs June 2015 (534.1) (73.3) (203.3) (146.5) (56.8) (18.1)
(per table on page 22) March 2015 (550.4) (70.0) (227.1) (176.4) (50.7) (14.3)
Year to date (1,083.4) (143.3) (430.6) (323.0) (107.6) (32.5)
Add back by-product credits June 2015 42.3 - 0.1 0.1 - 42.0
March 2015 24.6 0.1 0.8 0.8 - 23.5
Year to date 66.9 0.1 0.9 0.9 - 65.5
All-in sustaining costs gross June 2015 (576.4) (73.3) (203.4) (146.6) (56.8) (60.1)
of by-product credits March 2015 (575.0) (70.1) (227.9) (177.2) (50.7) (37.8)
Year to date (1,150.3) (143.4) (431.5) (323.9) (107.6) (98.0)
Gold equivalent ounces sold June 2015 562.1 38.7 197.7 156.2 41.5 90.8
March 2015 508.9 36.3 174.8 135.8 39.0 56.4
Year to date 1,071.0 75.0 372.5 292.0 80.5 147.2
AISC gross of by-product June 2015 1,025 1,895 1,029 939 1,370 662
credits per equivalent ounce March 2015 1,130 1,932 1,304 1,305 1,299 671
of gold - US$/eq oz Year to date 1,074 1,913 1,158 1,109 1,336 666

All-in costs June 2015 (549.5) (76.8) (203.3) (146.5) (56.8) (18.1)
(per table on page 22) March 2015 (560.6) (74.6) (227.1) (176.4) (50.7) (14.3)
Year to date (1,109.0) (151.4) (430.6) (323.0) (107.6) (32.5)
Add back by-product credits June 2015 42.3 - 0.1 0.1 - 42.0
March 2015 24.6 0.1 0.8 0.8 - 23.5
Year to date 66.9 0.1 0.9 0.9 - 65.5
All-in costs gross of by-product credits June 2015 (591.8) (76.8) (203.4) (146.6) (56.8) (60.1)
March 2015 (585.2) (74.7) (227.9) (177.2) (50.7) (37.8)
Year to date (1,175.9) (151.5) (431.5) (323.9) (107.6) (98.0)
Gold equivalent ounces sold June 2015 562.1 38.7 197.7 156.2 41.5 90.8
March 2015 508.9 36.3 174.8 135.8 39.0 56.4
Year to date 1,071.0 75.0 372.5 292.0 80.5 147.2
AIC gross of by-product June 2015 1,053 1,986 1,029 939 1,370 662
credits per equivalent ounce March 2015 1,150 2,058 1,304 1,305 1,299 671
of gold - US$/eq oz Year to date 1,098 2,021 1,158 1,109 1,336 666

All-in sustaining costs and all-in costs gross of by-product credits per
equivalent ounce of gold sold
WORLD GOLD COUNCIL INDUSTRY STANDARD
Figures are in US dollar million unless otherwise stated
Australia Region
Corporate
Australia and
projects
UNITED STATES DOLLARS Agnew/
Total St Ives Lawlers Darlot Granny Smith

All-in sustaining costs June 2015 (236.9) (101.4) (58.0) (20.2) (57.4) (2.6)
(per table on page 23) March 2015 (236.1) (101.5) (56.7) (19.6) (58.3) (2.8)
Year to date (471.8) (202.7) (113.5) (39.9) (115.7) (5.4)
Add back by-product credits June 2015 0.2 0.2 - - - -
March 2015 0.2 0.1 0.1 - - -
Year to date 0.4 0.3 0.1 - - -
All-in sustaining costs gross June 2015 (237.1) (101.5) (58.0) (20.2) (57.4) (2.6)
of by-product credits March 2015 (236.3) (101.6) (56.8) (19.6) (58.3) (2.8)
Year to date (472.2) (203.0) (113.6) (39.9) (115.7) (5.4)
Gold equivalent ounces sold June 2015 235.0 89.2 53.8 17.4 74.6 -
March 2015 241.4 98.7 59.6 11.2 72.0 -
Year to date 476.4 187.9 113.4 28.5 146.6 -
AISC gross of by-product June 2015 1,009 1,138 1,077 1,164 770 -
credits per equivalent ounce March 2015 979 1,030 952 1,757 810 -
of gold - US$/eq oz Year to date 991 1,080 1,002 1,400 789 -

All-in costs June 2015 (236.9) (101.4) (58.0) (20.2) (57.4) (14.5)
(per table on page 23) March 2015 (236.1) (101.5) (56.7) (19.6) (58.3) (8.4)
Year to date (471.8) (202.7) (113.5) (39.9) (115.7) (22.9)
Add back by-product credits June 2015 0.2 0.2 - - - -
March 2015 0.2 0.1 0.1 - - -
Year to date 0.4 0.3 0.1 - - -
All-in costs gross of by- June 2015 (237.1) (101.5) (58.0) (20.2) (57.4) (14.5)
product credits March 2015 (236.3) (101.6) (56.8) (19.6) (58.3) (8.4)
Year to date (472.2) (203.0) (113.6) (39.9) (115.7) (22.9)
Gold equivalent ounces sold June 2015 235.0 89.2 53.8 17.4 74.6 -
March 2015 241.4 98.7 59.6 11.2 72.0 -
Year to date 476.4 187.9 113.4 28.5 146.6 -
AIC gross of by-product June 2015 1,009 1,138 1,077 1,164 770 -
credits per equivalent ounce March 2015 979 1,030 952 1,757 810 -
of gold - US$/eq oz Year to date 991 1,080 1,002 1,400 789 -

Underground and surface
South South
Africa West Africa Region America Australia Region
Region Region

Total Mine
Operations Ghana Peru Australia
UNITED STATES DOLLARS,
IMPERIAL OUNCES WITH South Cerro Agnew/ Granny
METRIC TONNES AND GRADE Deep Total Tarkwa Damang Corona Total St Ives# Lawlers Darlot Smith

Ore milled/treated (000 tonnes)

- underground ore June 2015 1,380 268 - - - - 1,112 308 314 128 361
March 2015 1,388 225 - - - - 1,163 395 312 86 370
Year to date 2,768 493 - - - - 2,275 703 626 214 731

- underground waste June 2015 3 3 - - - - - - - - -
March 2015 6 6 - - - - - - - - -
Year to date 9 9 - - - - - - - - -

- surface ore June 2015 6,777 27 4,514 3,421 1,093 1,633 604 604 - - -
March 2015 6,779 31 4,402 3,385 1,017 1,597 749 749 - - -
Year to date 13,556 58 8,916 6,806 2,110 3,230 1,353 1,353 - - -

- total milled June 2015 8,160 298 4,514 3,421 1,093 1,633 1,715 912 314 128 361
March 2015 8,173 262 4,402 3,385 1,017 1,597 1,912 1,144 312 86 370
Year to date 16,333 560 8,916 6,806 2,110 3,230 3,627 2,056 626 214 731
Yield (grams per tonne)

- underground ore June 2015 5.3 4.5 - - - - 5.5 5.0 5.3 4.2 6.4
March 2015 5.1 5.0 - - - - 5.2 4.1 5.9 4.0 6.1
Year to date 5.2 4.7 - - - - 5.3 4.5 5.6 4.1 6.2

- underground waste June 2015 - - - - - - - - - - -
March 2015 - - - - - - - - - - -
Year to date - - - - - - - - - - -

- surface ore June 2015 1.4 - 1.3 1.4 1.2 1.6 2.1 2.1 - - -
March 2015 1.3 - 1.2 1.2 1.2 1.3 2.0 2.0 - - -
Year to date 1.4 - 1.3 1.3 1.2 1.4 1.8 1.8 - - -

- combined June 2015 2.1 4.0 1.3 1.4 1.2 1.6 4.2 3.0 5.3 4.2 6.4
March 2015 2.0 4.3 1.2 1.2 1.2 1.3 3.9 2.7 5.9 4.0 6.1
Year to date 2.0 4.2 1.3 1.3 1.2 1.4 4.1 2.8 5.6 4.1 6.2
Gold produced (000 ounces)

- underground ore June 2015 233.6 38.7 - - - - 194.9 49.2 53.8 17.4 74.6
March 2015 230.4 35.9 - - - - 194.2 51.5 59.6 11.2 72.0
Year to date 464.0 74.6 - - - - 389.1 100.7 113.4 28.5 146.6

- underground waste June 2015 - - - - - - - - - - -
March 2015 - - - - - - - - - - -
Year to date - - - - - - - - - - -

- surface ore June 2015 321.3 - 197.7 156.2 41.5 83.6 40.0 40.0 - - -
March 2015 288.7 0.2 174.8 135.8 39.0 66.6 47.2 47.2 - - -
Year to date 610.0 0.2 372.5 292.0 80.5 150.2 87.2 87.2 - - -

- total June 2015 554.9 38.7 197.7 156.2 41.5 83.6 235.0 89.2 53.8 17.4 74.6
March 2015 519.1 36.3 174.8 135.8 39.0 66.6 241.4 98.7 59.6 11.2 72.0
Year to date 1,074.0 75.0 372.5 292.0 80.5 150.2 476.4 187.9 113.4 28.5 146.6

Operating costs (dollar per tonne)

- underground June 2015 129 216 - - - - 107 110 118 112 97
March 2015 123 235 - - - - 100 80 117 173 90
Year to date 126 224 - - - - 104 93 115 137 94

- surface June 2015 27 - 29 24 44 23 19 19 - - -
March 2015 27 - 29 25 44 21 30 30 - - -
Year to date 27 - 29 25 44 22 25 25 - - -

- total June 2015 44 196 29 24 44 23 77 50 118 112 97
March 2015 44 207 29 25 44 21 73 47 117 173 90
Year to date 44 201 29 25 44 22 75 48 117 137 94

# June quarter includes 1,500 ounces at St Ives, from rinsing inventory at the heap leach operations.

Administration and corporate information

Corporate Secretary
Lucy Mokoka
Tel: +27 11 562 9719
Fax: +27 562 9829
e-mail: [email protected]

Registered office
JOHANNESBURG
Gold Fields Limited
150 Helen Road
Sandown
Sandton
2196

Postnet Suite 252
Private Bag X30500
Houghton
2041
Tel: +27 11 562 9700
Fax: +27 11 562 9829

Office of the United Kingdom secretaries
LONDON
St James's Corporate Services Limited
Suite 31, Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Tel: +44 20 7796 8644
Fax: +44 20 7796 8645

American depository receipts transfer agent
Bank of New York Mellon
BNY Mellon Shareowner Services
P O Box 358516
Pittsburgh, PA15252-8516
US toll-free telephone: +1 888 269 2377
Tel: +1 201 680 6825
e-mail: [email protected]

Gold Fields Limited
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code: GFI
Issuer code: GOGOF
ISIN - ZAE 000018123

Investor enquiries
Avishkar Nagaser
Tel: +27 11 562 9775
Mobile: +27 82 312 8692
e-mail: [email protected]

NORTH AMERICA
Willie Jacobsz
Tel: +1 617 535 7545
Mobile: +1 857 241 7127
e-mail: [email protected]

Media enquiries
Sven Lunsche
Tel: +27 11 562 9763
Mobile: +27 83 260 9279
e-mail: [email protected]

Transfer secretaries
SOUTH AFRICA
Computershare Investor Services (Proprietary) Limited
Ground Floor
70 Marshall Street
Johannesburg
2001
P O Box 61051
Marshalltown
2107
Tel: +27 11 370 5000
Fax: +27 11 688 5248

UNITED KINGDOM
Capita Asset Services
The Registry
34 Beckenham Road
Beckenham
Kent BR3 4TU
England
Tel: 0871 664 0300 [calls cost 10p a minute plus network extras,
lines are open 8.30am - 5pm Mon-Fri] or [from overseas]
+44 20 8639 3399
Fax: +44 20 8658 3430
e-mail:[email protected]

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

Website
WWW.GOLDFIELDS.COM

Listings
JSE / NYSE / NASDAQ Dubai: GFI
SWX: GOLI

Directors
CA Carolus (Chair) ° N J Holland *## (Chief Executive Officer) P A Schmidt ## (Chief Financial Officer)
K Ansah # A R Hill /amp;gt; G M Wilson amp;gt; R P Menell amp;gt; D N Murray amp;gt; D M J Ncube °

* British # Ghanaian / Canadian
° Independent Director ## Non-independent Director

Forward looking statements

This report contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended, or the Exchange Act, with respect to Gold Fields' financial condition, results of operations, business strategies, operating efficiencies, competitive position,
growth opportunities for existing services, plans and objectives of management, markets for stock and other matters.

These forward-looking statements, including, among others, those relating to the future business prospects, revenues and income of Gold Fields, wherever they may occur in this report and the
exhibits to the report, are necessarily estimates reflecting the best judgment of the senior management of Gold Fields and involve a number of risks and uncertainties that could cause actual
results to differ materially from those suggested by the forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important
factors, including those set forth in this report. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements
include, without limitation:

- overall economic and business conditions in South Africa, Ghana, Australia, Peru and elsewhere;
- changes in assumptions underlying Gold Fields' mineral reserve estimates;
- the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions;
- the ability to achieve anticipated cost savings at existing operations;
- the success of the Group's business strategy, development activities and other initiatives;
- the ability of the Group to comply with requirements that it operate in a sustainable manner and provide benefits to affected communities;
- decreases in the market price of gold or copper;
- the occurrence of hazards associated with underground and surface gold mining or contagious diseases at Gold Field's operations;
- the occurrence of work stoppages related to health and safety incidents;
- loss of senior management or inability to hire or retain employees;
- fluctuations in exchange rates, currency devaluations and other macroeconomic monetary policies;
- the occurrence of labour disruptions and industrial actions;
- power cost increases as well as power stoppages, fluctuations and usage constraints;
- supply chain shortages and increases in the prices of production imports;
- the ability to manage and maintain access to current and future sources of liquidity, capital and credit, including the terms and conditions of Gold Fields' facilities and Gold Fields' overall
cost of funding;
- the adequacy of the Group's insurance coverage;
- the manner, amount and timing of capital expenditures made by Gold Fields on both existing and new mines, mining projects, exploration project or other initiatives;
- changes in relevant government regulations, particularly labour, environmental, tax, royalty, health and safety, water, regulations and potential new legislation affecting mining and
mineral rights;
- fraud, bribery or corruption at Gold Field's operations that leads to censure, penalties or negative reputational impacts; and
- political instability in South Africa, Ghana, Peru or regionally in Africa or South America.

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 report or to reflect
the occurrence of unanticipated events.
Date: 20/08/2015 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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