Slide 1: Gold Fields H1 2025 Results
Tarkwa open pit, Ghana Gold Fields H1 2025 Results Mike Fraser: CEO Alex Dall: CFO
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: A global gold miner with assets in quality jurisdictions
A global gold miner with assets in quality jurisdictions H1 2025 att. gold production contribution Gold Fields Group Chile: 11% Mines: 9 Projects: 1 Peru: 9% Countries: 6 Australia: Att. production: 1,136koz 45% AIC: US$1,957/oz South Africa: 13% Adjusted free cash flow from ops*: US$1,143m Adjusted
Slide 4: Gold Fields Strategy
Gold Fields Strategy Building off a Quality Asset Base • Our focus: being a safe, reliable, high-quality, cost-effective gold producer • Our portfolio is anchored by four multi-decade assets which provide the production baseload • An additional four assets offer upside optionality • Through greenfie
Slide 5: Overview: strong performance in H1 2025
Overview: strong performance in H1 2025 SAFETY IMPROVEMENT PLAN • Benefits of Safety improvement roadmap becoming visible • Improved safety performance in H1 2025 PRODUCTION AND COSTS ON TRACK TO MEET FY 2025 GUIDANCE • H1 2025 unit costs elevated, set to improve in H2 2025 • Gold sold & shipped pos
Slide 6: H1 2025 Operational Performance
H1 2025 Operational Performance South Deep mine, South Africa 6 6
Slide 7: Operating performance: Strong delivery in H1 2025
Operating performance: Strong delivery in H1 2025 SAFETY & WELLBEING ATT. PRODUCTION COSTS • 0 fatalities AIC: US$1,957/oz • 2 serious injuries 1,136koz 5% YoY • 0 serious environmental incidents 24% YoY • 90% of EB&Co. recommendations completed AISC: US$1,682/oz 4% YoY CASH FLOW FROM OPS. SALARES N
Slide 8: Social and environmental performance
Social and environmental performance Mid-point review completed to assess progress & inform potential adjustments to targets and plans 1 SAFETY, HEALTH & ENVIRONMENT 2 GENDER DIVERSITY 3 STAKEHOLDER VALUE CREATION • US$ 2.9 bn in value created for • Safety improvement roadmap being • 26% women emplo
Slide 9: Production tracking full-year guidance
Production tracking full-year guidance Attributable production 2600,0 2,250 – 2,450 2100,0 1600,0 123,0 19,0 1136,0 1100,0 35,0 45,0 11,0 918,0 9,0 8,0 -19,0 -13,0 600,0 100,0 2024 H1 Gruyere (50%) Granny Smith St Ives Agnew South Deep Damang Tarkwa Salares Norte Cerro Corona 2025 H1 2025 Guidance G
Slide 10: Costs expected to decrease in H2 2025, full-year guidance intact
Costs expected to decrease in H2 2025, full-year guidance intact Increase in volumes and All-in costs: H1 2025 vs. H1 2024 mining contractor rates in 2500,0 Australia. Inclusion of Reduction in project capital Salares Norte: US$60/oz at Salares Norte Impact of higher gold 230,270 21,533 2300,0 price
Slide 11: Asset performance
Asset performance SOUTH DEEP TARKWA ST IVES H1 2024 H1 2025 % change H1 2024 H1 2025 % change H1 2024 H1 2025 % change Att. Production Att. Production Att. Production 113 148 31% 223 210 -6% 139 185 33% (koz) (koz) (koz) AIC (US$/oz) 1,906 1,770 -7% AIC (US$/oz) 1,822 2,035 12% AIC (US$/oz) 2,003 2,
Slide 12: Asset performance
Asset performance GRUYERE GRANNY SMITH AGNEW H1 2024 H1 2025 % change H1 2024 H1 2025 % change H1 2024 H1 2025 % change Att. Production Att. Production Att. Production 63 72 14% 126 134 6% 110 122 10% (koz) (koz) (koz) AIC (US$/oz) 1,762 1,878 7% AIC (US$/oz) 1,399 1,537 10% AIC (US$/oz) 1,503 1,637
Slide 13: Asset performance
Asset performance SALARES NORTE DAMANG CERRO CORONA H1 2024 H1 2025 % change H1 2024 H1 2025 % change H1 2024 H1 2025 % change Att. Production Att. Production Att. Production 0.5 124 +100% 65 47 -28% 78 97 24% (koz eq) (koz) (koz eq) AIC (US$/oz eq) - 2,345 - AIC (US$/oz) 1,917 2,070 8% AIC (US$/oz
Slide 14: Catalysts for portfolio optimisation
Catalysts for portfolio optimisation GRUYERE GRANNY SMITH ST. IVES AGNEW AIC & AISC • Opportunity: Life extension • Opportunity: Address • Opportunity: Unlock • Opportunity: Life extension • Levers: Pit and plant haulage constraint Invincible orebody’s full • Levers: Optimise mining optimisation, ex
Slide 15: Financial performance & capital allocation
Financial performance & capital allocation Gruyere processing plant, Western Australia 15 15
Slide 16: Financial performance
Financial performance HEADLINE EARNINGS NORMALISED EARNINGS INTERIM DIVIDEND US$1,027m US$998m R7.00/share 220% YoY 181 % YoY 133% YoY US$1.15/share US$1.12/share ADJUSTED FREE CASH FLOW ADJUSTED FCF PER SHARE BALANCE SHEET US$952m US$1.06/share Net debt/EBITDA vs. US$58m outflow in H1 2024 vs. US$0
Slide 17: Healthy free cash flow generation
Healthy free cash flow generation Strong cash flow generation in H1 2025 driven by higher volumes and gold price Impact of higher gold 2500,0 price 2106,0 2000,0 113,0 1687,60 (463,40) Increase in sales 1500,0 (68,0) volumes and a higher gold price 1000,0 (664,70) 952,20 (51,0) (5,40) (14,30) Salare
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 and cash at 30 June 2025 3 500 3 000 2 500 505 1 052 NET DEBT 2 000 US$1,487m 1 500 1 000 2 121 2 121 500 1 487 - 218 - 329 - 432 -500 -1 000 -1 067 Down from US$2,086m at Dec 2024 -1 500 US$ Rand A$ Total Lease Cash Net debt facilities faci
Slide 20: Consistent growth in base dividend
Consistent growth in base dividend ZAR cents Gold Fields dividend histroy • Consistent payment of base dividend as per our 1 200 dividend policy (30% - 45% of normalised 1000 earnings) 1 000 700 745 • Conservative H1 2025 payout ratio of 34%, in line 800 745 with previous years 445 420 700 600 480 4
Slide 21: Quality of portfolio
Quality of portfolio Salares Norte plant, Chile 21 21
Slide 22: Levers to grow the value and quality of our portfolio
Levers to grow the value and quality of our portfolio Mineral Resource and Mineral Reserve base to maintain production of 2.0 – 3.0Moz per annum into the mid 2030’s. BROWNFIELDS GREENFIELDS BOLT-ON M&A: EXPLORATION: EXPLORATION: • Recent additions include • US$63m spent on brownfields • We have rein
Slide 23: Attractive near-term growth in Salares Norte and Windfall
Attractive near-term growth in Salares Norte and Windfall SALARES NORTE WINDFALL H1 2025 progress Focus areas • Uninterrupted operations despite similar weather conditions to • Progressing EIA permitting process 2024 • Progressing Impact Benefit Agreement negotiations • Five chinchilla captured and
Slide 24: Gold Road acquisition: consolidating a high-quality asset
Gold Road acquisition: consolidating a high-quality asset I N D I C AT I V E T I M E L I N E SID IER Materials Review 1st court Scheme Scheme 2nd court Effectiv Special Implementatio signed received submitted to period date material meeting date e date dividend n date ASIC ends s issued paid 5 May 2
Slide 25: Greenfields exploration portfolio
Greenfields exploration portfolio Key developments during H1 2025 • Onyx Gold (Canada): Stake lifted to 9.4%; standout intercepts incl. 91m @ 1.8 g/t and 60m @ 2.5 g/t Au • Vior (Canada): Participated in C$39M raise and maintained ~20.7% stake; supporting 60,000m Belleterre campaign • Hamelin Gold (
Slide 26: Outlook and conclusion
Outlook and conclusion Exploration team at Salares Norte, Chile 26 26
Slide 27: 2025 Group guidance and outlook
2025 Group guidance and outlook 2025 guidance unchanged 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 IMPROVE SAFETY ENSURE PREDICTABLE CONTINUE TO IMPROVE UPCOMING PERFORMANCE DEL
Slide 28: Capital markets day 12 November 2025
Date: 12 November 2025 Time: 15h00 – 18h00 (SAST) This will be a hybrid event based in London. Venue and registration details to follow.
Slide 29: Thank you
Thank you 29 29