Slide 1: Gold Fields FY 2025 Results
Tarkwa open pit, Ghana Gold Fields FY 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: Strong operating and financial performance in 2025
Strong operating and financial performance in 2025 SAFETY IMPROVEMENT PLAN • Safety Improvement Plan starting to deliver positive outcomes FY 2025 PRODUCTION AND COST GUIDANCE ACHIEVED • FY 2025 attributable gold-equivalent production of 2.44Moz (+18% YoY) at the upper end of guidance (2.25Moz – 2.4
Slide 4: A global gold miner with assets in quality jurisdictions
A global gold miner with assets in quality jurisdictions FY 2025 att. gold production contribution Gold Fields Group Chile: 16% Mines: 9 Projects: 1 Australia: Countries: 6 Peru: 7% 44% Att. production: 2,438koz (Au eq) AIC: US$1,927/oz South Adjusted free cash flow from ops*: US$3,164m Africa: 12%
Slide 5: FY 2025 Operational Performance
FY 2025 Operational Performance Wallaby pit at Granny Smith, Western Australia 5 5
Slide 6: Operating performance: Strong delivery in 2025
Operating performance: Strong delivery in 2025 SAFETY & WELLBEING ATT. PRODUCTION COSTS • 0 fatalities AIC: US$1,927/oz • 7 serious injuries 2.44Moz Au eq 3% YoY • All EB&Co. recommendations 18% YoY implemented AISC: US$1,645/oz 1% YoY CASH FLOW FROM OPS. SALARES NORTE RAMP UP 2025 GUIDANCE 397koz A
Slide 7: Enhancing social and environmental impact
Enhancing social and environmental impact 1 SAFETY, HEALTH & ENVIRONMENT 2 GENDER DIVERSITY 3 STAKEHOLDER VALUE CREATION • Safety Improvement Plan being • 27% women employees • US$ 5.78bn in value created for stakeholders, of implemented which US$1.44bn (30%) to host communities • 28% women in leade
Slide 8: Production +18% YoY at the top-end of guidance
Production +18% YoY at the top-end of guidance Production (koz) - Atrributable 2,600 2,500 2,250 – 351 2,438 2,450 Mainly due to Q4 8% increase in tonnes Due to lower yield resulting (5) 2,400 production at 100% after from lower grade of ore the Gold Road acquisition, milled and a 3% increase in as
Slide 9: All-in costs: increased volumes counter inflation
All-in costs: increased volumes counter inflation 2,300 162 32 Increase in volumes and mining contractor rates in Reduction in project capital 2,200 Australia. Inclusion of at Salares Norte (49) Salares Norte. 89 Impact of higher gold 2,100 price 247 (23) (43) 2,000 100% of the cost in 2025 vs 50% o
Slide 10: Asset performance
Asset performance GRUYERE GRANNY SMITH ST IVES 2024 2025 % change 2024 2025 % change 2024 2025 % change Att. Production Att. Production Att. Production 144 186 29% 287 262 -9% 331 370 12% (Au koz) (Au koz) (Au koz) AIC (US$/oz Au) 1,632 2,030 24% AIC (US$/oz Au) 1,270 1,564 23% AIC (US$/oz Au) 1,903
Slide 11: Asset performance
Asset performance AGNEW SOUTH DEEP DAMANG 2024 2025 % change 2024 2025 % change 2024 2025 % change Att. Production Att. Production Att. Production 230 245 7% 258 297 15% 121 88 -28% (Au koz) (Au koz) (Au koz) AIC (US$/oz Au) 1,477 1,682 14% AIC (US$/oz Au) 1,794 1,841 3% AIC (US$/oz Au) 2,002 2,461
Slide 12: Asset performance
Asset performance TARKWA SALARES NORTE CERRO CORONA 2024 2025 % change 2024 2025 % change 2024 2025 % change Att. Production Att. Production Att. Production 484 427 -12% 45 397 +100% 172 167 -3% (Au koz) (koz Au eq) (koz Au eq) AIC (US$/oz Au AIC (US$/oz Au AIC (US$/oz Au) 1,629 2,049 26% 12,058 1,4
Slide 13: Financial performance & capital allocation
Financial performance & capital allocation Tarkwa processing plant, Ghana 13 13
Slide 14: Financial performance
Financial performance HEADLINE EARNINGS FINAL DIVIDEND ADDITIONAL RETURNS US$2,576m R18.50/share US$353m 117% YoY 164% YoY US$253m in special dividends US$2.88/share Total dividend of R25.50/share US$100m in share buybacks ADJUSTED FREE CASH FLOW ADJUSTED FCF PER SHARE BALANCE SHEET US$2,970m US$3.3
Slide 15: Material increase in free cash flow
Material increase in free cash flow Strong cash flow generation in 2025 driven by higher volumes and gold price 6,000 5,479 5,000 186 4,534 Increase in sales (1,012) volumes and a higher (119) gold price 4,000 Impact of higher gold 3,000 price (1,399) 2,970 (103) (10) (52) 2,000 Salares Norte ramp-u
Slide 16: Clear capital allocation framework
Clear capital allocation framework Aligned with our strategy Capital allocation priorities 1 Spend necessary capital to ensure safe, reliable and cost-effective operations 2 Maintain our investment grade credit rating 3 Base dividend of 35% of free cash flow before discretionary growth investments w
Slide 17: Disciplined approach to capital allocation
Disciplined approach to capital allocation Cash flow generation Allocation of 2025 FCF (US$m) Returned US$1.7bn to shareholders 4,368 Net debt of US$1.4bn (net debt/EBITDA of 0.26x) at 31 December 2025 vs. net debt of US$2.1bn (net debt/EBITDA of 0.73x) at 31 December 2024 (1,029) 1,962 (1,378) (665
Slide 18: Returns history (R per share)
Capital allocation priorities Returns to shareholders Total returns Base dividend US$1.7bn US$1.4bn 35% of FCF 44% of FCF before before growth growth 31.9 6.3% Returns history (R per share) 54% of FCF Special dividend Share buy-back US$0.2bn 6% of FCF US$0.1bn before growth 3% of FCF before growth 1
Slide 19: Quality of portfolio
Quality of portfolio 19 19 Gruyere, Western Australia
Slide 20: Growing the value and quality of our portfolio
Growing the value and quality of our portfolio • Gold Fields made disciplined investments across our growth levers during 2025, to improve the quality of our portfolio • We continue to grow our Resource and Reserve base to underpin production into the 2040s BROWNFIELDS GREENFIELDS BOLT-ON M&A: EXPLO
Slide 21: Successful ramp-up of Salares Norte
Successful ramp-up of Salares Norte 2025 progress • Uninterrupted operations despite similar weather conditions to 2024 • Commercial levels of production achieved in Q3 2025 • Steady-state levels of production achieved in Q4 2025 • Successful progress of the chinchilla capture and relocation program
Slide 22: Progressing Windfall to Final Investment Decision
Progressing Windfall to Final Investment Decision Laying the foundation for a multi-decade, camp-scale mining footprint: • Final Investment Decision Key deliverables for 2026 H1 2026 • Project Start (Q2 2026) • Finalise execution plan in H1 2026 • Start camp build (Q2 2026) • Award of main Environme
Slide 23: Gold Road acquisition: consolidating a high-quality asset
Gold Road acquisition: consolidating a high-quality asset • Acquired Gold Road Resources in H2 2025 for US$1.42bn net of cash received, special dividend paid by GOR and the disposal of the Northern Star shares • Full ownership enables Gold Fields to grow Gruyere’s production to c.400koz pa through:
Slide 24: Reversing the Trend of Declining Reserves
Reversing the Trend of Declining Reserves • 2025 Gold Mineral Resource (exclusive of Reserve) • Measured & Indicated: +12% to 34.2Moz • Inferred: +10% to 12.8Moz • 2025 Gold Mineral Reserve increased by 4.0Moz (9%) • Australian assets replaced depletion +4.0 Moz (+9%) 50.3 Z150 discovery 3.2 48.3 47
Slide 25: Outlook and conclusion
Outlook and conclusion Exploration team at Salares Norte, Chile 25 25
Slide 26: Group guidance and outlook
Group guidance and outlook 2026 guidance CMD guidance Delta Attributable production 2.40Moz – 2.60Moz Au eq 2.40Moz – 2.60Moz Au eq Total capital expenditure US$1.9bn – US$2.1bn US$1.9bn Foreign exchange All-in Sustaining Costs US$1,800/oz – US$2,000/oz US$1,690/oz – US$1,890/oz Foreign exchange and
Slide 27: Key priorities for 2026
Key priorities for 2026 ADVANCE ORGANIC OPPORTUNITIES GRUYERE GRANNY SMITH ST. IVES • Progress Golden Highway • Enabling infrastructure • Invincible Underground life- and integrate Yamarna land • Advance the material handling extension study • Advance open pit cutback vs. system study • Advance the
Slide 28: Thank you
Thank you de ICMM