Development agreement concluded in Ghana Gold Fields Limited (Reg. No. 1968/004880/06) (Incorporated in the Republic of South Africa) (“Gold Fields” or “the Company”) JSE, NYSE, DIFX Share Code: GFI ISIN Code: ZAE000018123 Development agreement concluded in Ghana Johannesburg, 29 March 2016: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to announce that it has concluded a development agreement with the Government of Ghana for both the Tarkwa and Damang mines. The highlights of the agreement include: - A reduction in the corporate tax rate from 35.0% to 32.5%, effective 17 March 2016. - A change in the royalty rate from a flat 5% of revenue to a sliding scale royalty based on the gold price (as per table below), with effect from 1 January 2017. Royalty rate Gold price 3.0% US$0 - 1,300/oz 3.5% US$1,300 - 1,449.99/oz 4.0% US$1,450 - 2,299.99/oz 5.0% US$2,300/oz - unlimited The term of the agreement, effective from 17 March 2016, will be for a period of 11 years for Tarkwa and nine years for Damang, each renewable for an additional five years. Ghana continues to be a key region for Gold Fields and we commend the Government of Ghana for creating a fair and competitive environment in the country. Enquiries Investors Avishkar Nagaser Tel: +27 11 562-9775 Mobile: +27 82 312 8692 Email : Avishkar.Nagaser@goldfields.co.za Media Sven Lunsche Tel: +27 11 562-9763 Mobile: +27 83 260 9279 Email : Sven.Lunsche@goldfields.co.za ends Notes to editors About Gold Fields Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa with attributable annual gold production of approximately 2.2 million ounces. It has attributable Mineral Reserves of around 48 million ounces and Mineral Resources of around 108 million ounces. Attributable copper Mineral Reserves total 620 million pounds and Mineral Resources 6,873 million pounds. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SWX). Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd Date: 29/03/2016 08:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.