4.7 Billion Rand Investment In South Africa

Driefontein 9 Sub-vertical Shaft Depth Extensionand

Kloof Extension Area Decline Shaft System

7 September 2006

2

Forward Looking Statements

Certain statements in this presentation constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa; decreases in the market price of gold; hazards associated with underground and surface gold mining; labour disruptions; changes in laws and government regulations, particularly environmental regulations and mineral rights legislation; changes in exchange rates; currency devaluations; inflation and other macro-economic factors; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of this document.  Gold Fields undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.

Kloof Gold MineKEA Decline Shaft System

Brendan Walker

Head of South African Operations

7 September 2006

4

Kloof - KEA ProjectIntroduction

KEA Decline Shaft

• R1,4 billion capital investment

• Targeting 2 moz gold contained within 4.5 moz resource

• Mining extended from 43 - 48 level

• Average mining depth 3,827m below datum

Converting quality resource ounces

5

Kloof - KEA ProjectEnhanced gold profile

Adding incremental ounces to Kloof’s gold profile

Kloof life of mine including KEA - gold produced

0

5 000

10 000

15 000

20 000

25 000

30 000

35 000

40 000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Go

ld p

rod

uce

d (

kg)

Kloof Current KEA

Years

6

Mined Areas

VCR

MR

Libanon Reef

Kloof Reef

Mined Areas

VCR on upthrown

side of West Rand Fault

Kloof - KEA ProjectLocality

Targeting VCR down dip of 3 & 4 Shaft

VCRVCR

MRMR

Libanon ReefLibanon Reef

Kloof ReefKloof Reef

KEA

000’ m2 975

Mt 5,2

Head grade g/t 12.1

Moz 2.0

7

KEA4

KEA5

KEA2

KEA3

N

0 500 1000

metres

45

45

48 48

43

4#

KEA1

Kloof - KEA ProjectGeology models & borehole data

Targeting Sandy 1 facies

Facies type

Sandy 2

Sandy 1

Slope

Milky Cobble

Apple Green

8

43 level (3.6km)

3 SV #

Chairlift

Wide Raise

Decline

RAW

44 level

45 level (4.3km)

46 level

47 level

48 level

4 SV #

43 level (4.1km)

42 level

Kloof - KEA ProjectDecline design

First reef intersection due mid C2009

9

Milestone Completion

Dates

Sink and develop to 44 level reef intersection End F2009

Sink and develop to 45 level reef intersection Mid F2011

Sink and develop to 46 level reef intersection End F2012

Sink and develop to 47 level reef intersection Mid F2014

Sink and develop to 48 level reef intersection Mid F2016

TOTAL CAPITAL REQUIRED (Rm) 1,375

Kloof - KEA ProjectCapital estimate (July 2006)

Capital expenditure US$95 per reserve ounce

10

Financials Units

Project evaluation gold price ZAR/kg 100,000 120,000

NPV (at 6% real discount rate) ZARm 297 675

Internal rate of return % 15 21

Breakeven gold price (at 0% discount rate) ZARm 83,137 83,137

Breakeven gold price (at 6% discount rate) ZARm 89,918 89,918

Working costs ZAR/ton 864 864

Project cash cost R/Kg 58,244 58,244

Leveraged to upswing in gold price

Kloof - KEA ProjectFinancials

11

• Ore body - Potential upside in Sandy 1 Facies

- Decline extension to 52 level (2 moz additional resource)

• Design- Earlier project delivery (1yr = 20% NPV improvement)

- Synergies with 3 and 4 shafts

• Costs- Implement new technology

- Increase face time – Productivity initiatives

Kloof - KEA ProjectOpportunities

Further upside potential

12

• Adds 2 moz incremental reserves

• Enhanced life of mine profile

• Optimise existing infrastructure

• Enhanced NPV

Technically and financially robust

Kloof - KEA ProjectConclusion

Driefontein Gold Mine9 Sub-vertical Shaft Depth Extension

Brendan Walker

Head of South African Operations

7 September 2006

14

9 Shaft ProjectIntroduction

9 Sub Vertical Shaft Depth Extension

• R3,3 billion capital investment

• Targeting 8.8 moz reserve contained within 13.9 moz resource

• Life of mine extended by 13 years

• 9SV shaft extended below 43 level

• Final depth of 4,121m below datum

Creating the deepest mine in the world

15

9 Shaft ProjectValue addition to Driefontein

0

5000

10000

15000

20000

25000

30000

35000

40000

2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035

Go

ld p

rod

uce

d (

kg)

Driefontein Life of mine 9# Shaft

U/G production maintained at 30 tons p.a until F2020

Years

16

1T Area

5# Area

1.1km

2.2km

1.5km

9# Area

9 Shaft Project Locality

Mining between 3,400 & 4,100 meters below datum at global average grade ~ 2,000 cmg/t

Depth Extension

000’ m2 5,337

Mt 33.5

Head grade g/t

8.2

Moz 8.8

17

9 Shaft ProjectGeology: Schematic Diagram of 9 Shaft

Ventersdorp Supergroup

Lava

Lava

Pe

gg

y’s

Dy

ke

38 Level

9 Sub #22 Level

Carbon Leader Reef

Middelvlei Reef

Ventersdorp Contact Reef

Dykes

Master Bedding Plane Fault

Existing Shaft

Proposed Shaft

Existing Development

North South

40 Level

43 Level

Sp

ott

ed

Dic

k D

yk

e

50 Level

55 Level

56 Level

40.4m

57 Level

54 Level

53 Level52 Level51 Level

Accessing carbon leader below current infrastructure

18

Milestone Completion

Dates

Preparation for sink Mid F2008

Sink, line and station development Mid F2012

Shaft equipping Mid F2013

First reef intersection Mid F2014

TOTAL CAPITAL REQUIRED (Rm) 3,251

9 Shaft ProjectCapital Estimates (July 2006)

Capital expenditure $51per reserve ounce

19

Financials Units

Project evaluation gold price ZAR/kg 100,000 120,000

NPV (6% real discount rate) ZARm 277 1414

Internal rate of return % 8 13

Breakeven gold price (at 0% discount rate) ZAR/kg 85,360 85,360

Breakeven gold price (at 6% discount rate) ZAR/kg 96,985 96,985

Average working costs ZAR/ton 543 543

Project cash cost R/kg 65,977 65,977

9 Shaft ProjectFinancial Valuation

Leveraged to upswing in gold price

20

9 Shaft ProjectConclusion

• Brings to account 8.8m ounces of reserve contained within 13.9moz resource

• Enhances Driefontein NPV

• Extends the life of mine by 13 years

• Optimises existing infrastructure

Technically and financially sound

4.7 Billion Rand Investment In South Africa

Driefontein 9 Sub-vertical Shaft Depth Extensionand

Kloof Extension Area Decline Shaft System

7 September 2006