Slide 1: Gold Fields FY 2024 Results
Gold Fields FY 2024 Results Mike Fraser: CEO Brecha Principal pit, Salares Norte
Slide 2: Note to investors
Note to investors Forward Looking Statements This announcement contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this announcement may be
Slide 3: Gold Fields strategy
Gold Fields strategy Building off a quality asset base • Gold Fields is focused on being a safe, reliable, high-quality, low-cost gold producer. • The portfolio is anchored by four multi-decade, foundation assets which provide the production baseload. • An additional four assets offer upside optiona
Slide 4: Delivery of our strategy in 2024
Delivery of our strategy in 2024 Key developments in 2024 ensure Gold Fields is structured and resourced to deliver both near- term targets as well as our long-term aspirations: 2024 Annual Performance SAFETY IMPROVEMENT PLAN Revised guidance • Group-wide safety review undertaken and Multi-year safe
Slide 5: Ensuring the safety and wellbeing of our people
Ensuring the safety and wellbeing of our people • Tragically two colleagues were fatally injured at our operations in FY 2024 • Independent safety review conducted. Safety improvement plan developed which focuses: Leadership and culture Risk reduction Building safety process and system capabil
Slide 6: Our social and environmental impact in 2024
Our social and environmental impact in 2024 • 25% women employees • US$4,2bn in value created for • 2 fatalities • 28% women in leadership stakeholders, of which US$1,3bn (35%) to • 3 serious injuries • 56% of our women are in core roles host communities • 0 serious environmental incidents • Peru, G
Slide 7: FY 2024 Performance
z FY 2024 PERFORMANCE Damang waste conveyors
Slide 8: Operating performance: Strong recovery in H2 2024
Operating performance: Strong recovery in H2 2024 FY 2024 att. production FY 2024 AISC FY 2024 AIC 2,071koz US$1,629/oz US$1,873/oz -10% YoY +26% YoY +24% YoY H2 att. production H2 2024 AISC H2 2024 AIC 1,153koz US$1,535/oz US$1,723/oz +26% HoH -12%% HoH -16% HoH Production guided to increase betwee
Slide 9: 2025 production recovery to above 2023 levels
2025 production recovery to above 2023 levels Analysis of attributable production from 2023 to 2025 guidance 2,500 Ramp up of Salares 2,400 2,250 – Rainfall event at Gruyere 280 – 330 2,450 Impacted H1 performance (11) Operational difficulties at South 2,300 Deep First production from 2,244 Salares
Slide 10: All-in costs: increased volumes counter Windfall and St Ives capex
All-in costs: increased volumes counter Windfall and St Ives capex Analysis of AIC from 2023 to 2025 guidance Increase in capital spend mainly on Windfall and 2,000 Increased sustaining capex at St the St Ives renewables Ives and Gruyere project Release of GIP 1,900 1,780 – 68 4 1,873 70 1,930 (1) 1
Slide 11: Asset performance and catalysts
Asset performance and catalysts ST IVES SOUTH DEEP TARKWA FY 2023 FY 2024 % change FY 2023 FY 2024 % change FY 2023 FY 2024 % change Att. Production Att. Production Att. Production 372 331 -11% 311 258 -17% 496 484 -2% (koz) (koz) (koz) AIC (US$/oz) 1,301 1,903 46% AIC (US$/oz) 1,349 1,794 33% AIC (
Slide 12: Asset performance and catalysts
Asset performance and catalysts GRUYERE GRANNY SMITH AGNEW FY 2023 FY 2024 % change FY 2023 FY 2024 % change FY 2023 FY 2024 % change Att. Production Att. Production Att. Production 161 143 -11% 284 287 1% 245 230 -6% (koz) (koz) (koz) AIC (US$/oz) 1,190 1,632 37% AIC (US$/oz) 1,196 1,270 6% AIC (US
Slide 13: Asset performance and catalysts
Asset performance and catalysts SALARES NORTE DAMANG CERRO CORONA FY 2023 FY 2024 % change FY 2023 FY 2024 % change FY 2023 FY 2024 % change Att. Production Att. Production Att. Production 0 45 na 137 121 -12% 238 172 -28% (koz eq) (koz) (koz eq) AIC (US$/oz eq) - 12,058 na AIC (US$/oz) 1,679 2,002
Slide 14: Asset optimisation across all our operations
Asset optimisation across all our operations Drive the delivery of key BI & TC projects, supported by a solid MOS to improve Operational Effectiveness Operating Effectiveness (OE) Transition Assets Business Improvement (BI) Cash Generation Assets Transformational Change (TC) Foundational Assets Wind
Slide 15: Financial overview: Improved H2 allowed a strong finish to FY 2024
Financial overview: Improved H2 allowed a strong finish to FY 2024 Headline earnings Normalised earnings Final dividend US$1,188m US$1,227m R7.00/share +65% YoY +36% YoY Total dividend declared of R10.00/share +34% YoY Adjusted free cash Adjusted free cash flow FCF per share flow from operations US$
Slide 16: Strong earnings growth drives record dividend
Strong earnings growth drives record dividend US$1.2 billion of normalised earnings delivered in 2024 Higher gold price received slightly offset by lower gold sold 5,500 5,202 5,000 Increase in mining costs and gold in process 4,500 movements 4,000 3,500 2,985 Dividend: Payout ratio US$’million 3,00
Slide 17: Healthy free cash flow generation
Healthy free cash flow generation Strong cash flow generation achieved for 2024 while completing the Salares Norte project capital spend Impact of higher gold 3,000 price Project and ramp-up capital at Salares 627 Norte, Tarkwa stripping and St Ives (90) renewables project (38) 2,500 2,135 2,000 13
Slide 18: Clear capital allocation framework
Clear capital allocation framework Capital allocation priorities 1 Maintain our investment grade credit rating 2 Spend necessary capital to ensure safe, reliable and cost-effective production 3 Pay a base dividend of 30% - 45% of normalised earnings Remaining free cash-flow must compete based on ret
Slide 19: Maintaining balance sheet flexibility
Maintaining balance sheet flexibility Available facilities at 31 Dec 2024 3,000 Net debt 621 2,500 2,000 317 2,285 2,496 US$2,086m 1,500 Up from US$1,024m at Dec 2023 1,000 500 99 0 205 211 Net debt to EBITDA US$ facilities Rand facilities A$ facilities Total Drawn Undrawn 0.73x Debt Maturity profil
Slide 20: Consistent growth in base dividend
Consistent growth in base dividend ZAR cents Gold Fields dividend history Gold Fields payout ratio and trailing dividend yield 1,200 50% 4.5% 45% 4.0% 1,000 40% 3.5% 35% 800 3.0% 30% 700 2.5% 600 25% 445 420 2.0% 20% 400 1.5% 260 15% 320 10% 1.0% 200 300 325 300 0.5% 210 5% 160 0 0% 0.0% 2020 2021 2
Slide 21: Investing the necessary capital in the business
Investing the necessary capital in the business Increased capital spend at Windfall planned for 2025, Salares Norte project capital completed 1,600 Windfall capital 1,490 – 1,550 1,500 286 7 St Ives renewables construction 20 1,400 15 14 86 Stripping activities US$’million 1,300 Stripping in the 41
Slide 22: Portfolio
Exploration team in the field at Salares Norte z PORTFOLIO
Slide 23: A global gold miner with assets in quality mining jurisdictions
A global gold miner with assets in quality mining jurisdictions FY 2024 Snapshot Gold Fields Group FY 2024 mine cash flow per region Mines: 9 FY 2024 att. production contribution Projects: 1 South Africa: Peru: US$66m (6%) Chile: 2% Countries: 6 US$168m (15%) Peru: 8% Att. production: 2,071koz AIC:
Slide 24: Salares Norte delivering high margin production
Salares Norte delivering high margin production Progress to date koz eq Salares Norte 2025 projected production ramp-up 50 45 • Ramp-up successfully recommenced in September 2024 40 • Gold equivalent production of 45koz delivered in 2024 35 30 • Two chinchilla successfully captured and relocated 25
Slide 25: Windfall project update
Windfall project update Key focus areas in 2025 Windfall • Progressing Environmental Impact Assessment M&I&I Resource 7.4Moz (EIA) approval Osborne Bell Au 0.51Moz @6.13 4.1Moz M&I @11.4 g/t Au • Advancing negotiations on the Impact Benefit g/t (Inf) 3.3Moz Inf @ 8.4g/t Au Agreement (IBA) • Preparin
Slide 26: Replacing Reserves at all key assets
Replacing Reserves at all key assets • Mineral Resource (inclusive of Reserve) increased by 2.2Moz Au to 87.6 Moz in 2024 • Gold Mineral Reserve pre-depletion increased by 1.6Moz in 2024 • Decreased by 382koz after depletion to 44.3Moz • St Ives’ exploration success led to significant reserve discov
Slide 27: Levers to grow the value and quality of our portfolio
Levers to grow the value and quality of our portfolio Gold Fields has a Mineral Resource and Mineral Reserve base to maintain production of 2.0 – 3.0Moz per annum into the mid 2030’s. BOLT-ON M&A: BROWNFIELDS EXPLORATION: GREENFIELDS EXPLORATION: • Recent additions include the • US$72m spent on brow
Slide 28: Outlook and conclusion
z Outlook and conclusion Salares Norte, Chile
Slide 29: 2025 Group guidance and outlook
2025 Group guidance and outlook 2025 guidance Production 2.25Moz – 2.45Moz Total capital expenditure US$1.49bn – US$1.55bn All-in Sustaining Costs US$1,500/oz – US$1,650/oz All-in Costs US$1,780/oz – US$1,930/oz Exchange rate assumptions vs. US$ A$ ZAR C$ 0.66 18.50 0.71 Improve safety Ensure predic
Slide 30: Thank you
THANK YOU Member of: Gold Fields | FY 2024 results | 20 February 2025 30