Gold Fields Limited · JSE:GFI
Gold Fields — Denver Gold Forum 2022
20 slides from Gold Fields's conference presentation, September 2022
Slide 1: Denver Gold Forum 2022
Denver Gold Forum 2022 Chris Griffith: CEO Salares Norte covered in snow 1
Slide 2: Important information
Important information Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934 with respect to Gold Fields’ financial condition, results of operati
Slide 3: An attractive value proposition
An attractive value proposition • What you get by investing in Gold Fields • A well-run portfolio of quality assets • Operating performance that translates into strong financial results and sector-leading returns • Tangible, high-quality growth in Salares Norte • The benchmark setter in ESG practice
Slide 4: GOLD FIELDS: Quality assets, sector leading returns
GOLD FIELDS: Quality assets, sector leading returns Processing plant at the Tarkwa mine in Ghana
Slide 5: A globally diversified gold miner
A globally diversified gold miner H1 2022 Snapshot Gold Fields Group Mines: 9 H1 2022 att. gold production contribution Projects: 1 Americas: Countries: 5 11% South Att. production: 1,201koz (+9% YoY) Africa: 13% AIC: US$1,352/oz (+6% YoY) Australia: 44% Adjusted free cash flow from ops: US$518m (+3
Slide 6: Strong operating results flowing to the bottom line
Strong operating results flowing to the bottom line Strong operational performance and cash flow generation • Safety: Zero fatalities in H1 2022 • ESG: Gruyere solar plant commissioned post half year-end, South Deep on track for Q3 • Operations: 9% YoY increase in attributable equivalent gold produc
Slide 7: Salares Norte: high-quality, tangible growth
Salares Norte: high-quality, tangible growth Impacted by Covid and severe weather. Potential delay into Q2 2023 Key metrics Project status • Gold: 3.5Moz • Progress: 77% at end-June (15% progress in H1 2022) Reserves Total project • Silver: 39Moz • Q2 impacted by Covid and severe weather which conti
Slide 8: Salares Norte in pictures
Salares Norte in pictures Processing plant Thickeners, CIP and Brecha Principal pit leaching tanks Material handling area Brecha Principal pit 8 Gold Fields | Denver Gold Forum | September 2022
Slide 9: Continue to set the ESG benchmark
Continue to set the ESG benchmark Project Status Gruyere 12MW solar Commissioned on 31 July 2022 Construction 95% complete South Deep 50MW solar • Commissioning in Q3 2022 12MW solar plant at Gruyere 100% of Cerro Corona’s electricity supply has been Cerro Corona green power classified as renewable
Slide 10: YAMANA: Complementing Gold Fields' quality portfolio
YAMANA: Complementing Gold Fields’ quality portfolio Mara processing plant, Argentina
Slide 11: Why we are acquiring Yamana
Why we are acquiring Yamana What We See Why This Deal ▪ Gold Fields has consistently invested to grow the value Winning Combination and quality of its portfolio ▪ Complementary portfolios and skill sets greater than the sum of its parts ▪ We have strong conviction in our ability to deliver superior
Slide 12: Why we believe Yamana is a strong strategic fit
Why we believe Yamana is a strong strategic fit Our Screening Criteria 41 1 Asset Quality (LoM + AISC) ✓ Canadian Malartic – top 10 asset globally(1) ✓ Jacobina – one of the lowest cost gold mines in the Americas ✓ Robust free cash flow generation 2 Grow Cash Flows ✓ Growth initiatives identified/un
Slide 13: A diversified portfolio spread across quality jurisdictions
A diversified portfolio spread across quality jurisdictions North America South America Africa Australia 2021 Attr. AuEq 2021 Attr. AuEq 2021 Attr. AuEq 2021 Attr. AuEq Production Production Production Production 0.4Moz 0.9Moz 1.1Moz 1.0Moz GHANA Cerro Corona BRAZIL PERU Jacobina AUSTRALIA CANADA As
Slide 14: Offer supported by independent valuation
Offer supported by independent valuation What we previously indicated: • Offer represented a premium to Yamana’s market cap, but not to the value we see in their portfolio based on our conservative Yamana Offer Management Base Case following seven Value at 10D month review process VWAP Prices: $6.7b
Slide 15: Modest value synergies assumed through the combination
Modest value synergies assumed through the combination (AISC, US$/AuEq oz) c. US$100/oz average AISC reduction vs. status quo • Enlarged portfolio provides capital allocation flexibility to focus on value over volume • Gold Fields expects to realise c.US$100/oz average reduction in unit costs versus
Slide 16: Potential additional synergies
Potential additional synergies Initial cost synergies of US$40m pa • Overheads: US$25m pa • Supply chain: US$15m pa Additional operational and strategic synergies and value creation opportunities (value to be prioritised in 2023) • Plant recoveries and increased throughput • Asset optimisation and e
Slide 17: Update on acquisition timeline and conditions
Update on acquisition timeline and conditions Salient dates Base case scenario* Publication of circulars Mid October Shareholder votes Mid November Transaction close End November *Base case subject to regulatory approval process SARB approval for the transaction has been obtained Conditions outstand
Slide 18: CONCLUSION
CONCLUSION A vegetated tailings dam at Damang in Ghana
Slide 19: Quality gold miner providing sector-leading returns
Quality gold miner providing sector-leading returns • Gold Fields continues to deliver on its promises • Focus on safety and delivering on our ESG commitments • Strong operational results translating to the bottom line and driving returns • Delivering a world class, tier one asset in Salares Norte •
Slide 20: THANK YOU
THANK YOU Questions? 20