Q1 2024 Operational Update and ESG webcast

7 MAY 2024, CEO MIKE FRASER

Dump truck at Tarkwa mine, Ghana

1

Key developments in Q1 2024

Challenging quarter - 1 fatality at South Deep, 1 fatality at St Ives post Q1

Production

St Ives

of 464koz

Free cash

First gold

renewable

impacted by

outflow of

power project

Net debt of

poured on

lower

US$51m (after

approved in

US$1,143m;

28 March,

production at

final 2023

February.

net debt to

ramp-up to

Gruyere, St Ives,

dividend

Construction to

EBITDA of

steady-state

South Deep and

payment of

begin in May

0,51x

underway

Cerro Corona

US$199m)

Gold Fields Q1 2024 results

2

Safety

  • Fatal incidents: 2 operational fatalities during 2023 and 2 to date in 2024
  • Serious injuries: 6 in 2023 (2022: 5); 2 to date in 2024
  • TRIFR2: Q1 2024: 3.36; 2023: 2.01 (2022: 2.04)
  • Independent review of safety culture, processes and programmes in H1 2024:
    • Carried out by dss+ (formerly Du Pont)
    • The review to identify opportunities to accelerate our safety journey
    • Standardise the safety approach across our business
  • 4,251 employees and contractors trained in Courageous Safety Leadership in 2023
  • 650,000 engagements with our workforce on safety in 2023, from 550,000 in 2022
  1. Jan - Apr 2024
  2. Q1 2024 data. Gold Fields standardised their method for measuring "hours worked" at South
    Deep, departing from a formula to actual hours. This change affects the frequency rate calculations. Standardising the methodology does not change the improvement in TRFIR (or LTIFR) performance over the last five years, but rather resets the number to 2.36 for 2024.

Gold Fields | FY 2023 results | 22 February 2024

3

Group performance

koz

Group production and AIC

US$/oz

700

2 100

600

2 000

1 900

500

1 800

400

1 700

1 600

300

1 500

200

1 400

100

1 300

1 200

0

1 100

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Att. Production

AIC

Q1 2024

Q4 2023

Q1 2023

Managed production

koz

483

613

584

Attributable production

koz

464

593

563

AISC

US$/oz

1,738

1,356

1,149

AIC

US$/oz

2,115

1,618

1,341

  • Excludes Asanko

Attributable production

464koz

-18% YoY

AIC

US$2,115/oz

+58% YoY

Q1 2024 free cash flow

from operations

US$126m

Gold Fields Q1 2024 results

4

Q1 operating performance vs. FY guidance

Q1 2024

FY 2024 Guidance

Att. Production (koz)

AIC (US$/oz)

Att. Production (koz)

AIC (US$/oz)

Gruyere

32

1,742

150 - 168

1,370 - 1,525

Granny Smith

62

1,512

270

1,277

St Ives

69

1,943

355

1,913

Agnew

53

1,486

235

1,393

South Deep

56

1,886

305 - 312

1,590 - 1,625

Damang

31

2,063

125

2,030

Tarkwa

119

1,751

540

1,480

Salares Norte

n/a

n/a

220 - 240

1,840 - 2,010

Cerro Corona

42

1,568

197

1,310

Gold Fields Group

464

2,115

2,330 - 2,430

1,600 - 1,650

5

Gold Fields Q1 2024 results

Impacted assets in Q1

  • Negatively impacted by major rainfall event in March
  • Primary access roads to the mine were damaged and closed on 5 March
  • Mining and processing activities temporarily ceased Mining recommenced on 12 April 2024, processing on 14 April 2024
  • Status: Production recovery to normalized levels achieved 21 April 2024
  • FY 2024 guidance unchanged at 150koz - 168koz (50%)

Gold Fields Q1 2024 results

  • Gold production impacted by lower volumes and grades during Q1
  • Status: Gold production back-ended, FY 2024 guidance unchanged at 355koz.

6

Impacted assets in Q1

  • Inclement weather impacted stability in the North wall of the pit
  • Resulted in resequencing of mining to lower- grade areas
  • Q1 2024 gold production impacted by lower gold and copper grades
  • Status: North wall rehabilitated

FY 2024 guidance unchanged at 197koz eq

  • Operational momentum impacted by fatality on 2 January 2024
  • Performance further impacted by reduced stope access due to increased backfill rehandling and slow drilling through crushed ground
  • Remediation actions implemented
  • Status: Guidance revised in line with 2023 mined gold:
    • Production: 9,500kg - 9,700kg (305koz - 312koz) from 10,400kg (334koz) previously
    • Costs: AIC of US$1,590/oz - US$1,625/oz (from US$1,495/oz previously)

Gold Fields Q1 2024 results

South Deep value drivers

kt

Longhole stoping tonnes vs. drilled metres

metres

1 200

250

1 000

200

800

150

600

400

100

200

50

0

0

2019

2020

2021

2022

2023

Longhole stoping tonnes

Longhole stoping drilled metres (rhs)

metres

Backfill rehandling metres

  1. 500
  1. 000
  1. 500
  1. 000
    500
    0

2019

2020

2021

2022

2023

metres

Development metres

6 000

5 000

4 000

3 000

2 000

1 000

0

2019

2020

2021

2022

2023

kg

Gold recovered

  1. 000
  1. 000
  1. 000
  1. 000
  1. 000
  1. 000
    0

2019

2020

2021

2022

2023

Key value drivers have been improving, however backfill rehandling remains a key challenge

8

Salares Norte

Status update:

  • First gold poured on 28 March 2024
  • Circuit A and Circuit B which deliver 85% of the metal are being commissioned with operational control being handed over to the operational team
  • Focus now is on commissioning Circuit C (15% of metal)
  • Ramp-upprogressing, but slower than anticipated due to early onset of winter weather conditions
  • FY 2024 production: 220koz - 240koz eq at AIC of US$1,840/oz eq - US$2,010/oz eq
  • FY 2025 guidance of 580koz unchanged
  • Total capital cost estimate of US$1,180m - US$1,200m (in line with guidance)

• US$23m budgeted for 2024 exploration

First gold pour at Salares Norte, Chile

Gold Fields Q1 2024 results

9

Corporate Development/Debt

  • Windfall Project
    • EIA submitted to regulator in Q4 2023
    • Decision expected late 2024/ early 2025
    • EIA approval will trigger final investment decision, construction and Gold Fields'
      C$300m balance of payment
  • Proposed Tarkwa/Iduapriem JV
    • Engagement with Ghana govt ongoing, agreement not yet reached
    • JV to create significant shared value for all stakeholders
  • Debt
    • Q1 net debt: US$1,143m (2023: US$1,024m)
    • Net debt to EBITDA 0.51x (2023: 0.42x)
    • 5-year,US$500m bond to be redeemed on 15 May 2024

Windfall project, Canada

Gold Fields Q1 2024 results

10

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Gold Fields Ltd. published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 12:52:05 UTC.