• Value creation
• Consistency and comparability

Key observations:

The value creation model diagram on pages 6 – 7 of the 2015 report illustrates how Gold Fields' external and internal factors, (covering natural; manufactured; human; social; and financial capital inputs), which are linked to both risks and opportunities, inform the company's strategy and how these capitals are transformed through the achievement of its strategic objectives into gold (output) and therefore revenue. Outcomes are highlighted in the diagram using performance indictors grouped into 4 categories: strategic priorities; total value distribution; community impact; and environmental impact. The value creation model and the company’s vision are underpinned by the values summarized on page 4. The supporting narrative on page 5 articulates that it is through the generation and then distribution of revenue that the company is able to create value for itself and for its stakeholders. Pages 10 – 11 go further to summarize the