Slide 1: Gold Fields H1 2023 Results
Gold Fields H1 2023 Results Martin Preece: Interim CEO Processing plant at Tarkwa mine in Ghana 1
Slide 2: Important information
Important information 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 ma
Slide 3: H1 2023 results agenda
H1 2023 results agenda H1 2023 salient features and developments Martin Preece ESG developments Martin Preece Operations Martin Preece Salares Norte update Martin Preece Financials Paul Schmidt Conclusion Martin Preece 3 Gold Fields | H1 2023 results | 17 August 2023
Slide 4: Salient features for H1 2023 and recent developments
Salient features for H1 2023 and recent developments • Safety: One fatality and three serious injuries in H1 2023 • ESG: As committed, annual tailings reports (GISTM) for Tarkwa and Cerro Corona released on 3 August • Operations: 4% YoY decrease in attributable gold-equivalent production • Financial
Slide 5: A globally diversified gold miner
A globally diversified gold miner H1 2023 Snapshot Gold Fields Group H1 2023 att. production contribution Mines: 9 H1 2023 mine cash flow per region Americas: 12% Projects: 2 Countries: 6 Americas: US$71m (15%) Australia: Att. production: 1,154koz 44% AIC: US$1,398/oz West Africa: 31% Adjusted free
Slide 6: ESG
z ESG Tailings dam at Cerro Corona mine in Peru
Slide 7: Health and Safety
Health and Safety Our concept of zero harm does not only cover physical injuries and health, but includes the psychological wellbeing of our People Health & Safety performance – H1 2023 # of Serious & Serious and fatal injuries Fatal injuries • Operational fatal incidents: 1 fatal incident at 30 Tar
Slide 8: Gold Fields’ decarbonisation journey
Gold Fields’ decarbonisation journey Project Status • H1 2023: 819kt, 5% lower than in H1 2022 at Scope 1 and 2 carbon 864kt emissions • Emission intensity: H1 2023: 656 kgCO2e/oz, 3% lower than in H1 2022 • 16% of total energy consumption derived from Wind turbines at Agnew Renewable energy supply
Slide 9: TSF Management
TSF Management Global Industry Standard on Tailings Management (GISTM) disclosure reports released GISTM Disclosure Reports • Tarkwa in Ghana and Cerro Corona in Peru released their priority GISTM disclosure reports on 3 August, as committed • All four TSFs are in partial conformance having Tarkwa T
Slide 10: OPERATIONS
z OPERATIONS Gruyere open pit
Slide 11: Group
Group Challenging operating environment in H1 2023 Group - production and AIC Att. Production decreased 1,400 -4% 1,600 1,200 1,400 1,200 4% YoY 1,000 800 1,000 1,154koz 800 600 600 400 400 All-in Costs of US$1,398/oz 200 200 0 0 +3% YoY H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 H1 2023 Produc
Slide 12: Australia
Australia Cost pressures remain in H1 2023 Australia - production and AIC Production -3% YoY 600.0 -3% 1 400.0 500.0 1 200.0 509koz 1 000.0 400.0 800.0 300.0 600.0 All-in Costs of US$1,270/oz 200.0 100.0 400.0 200.0 +5% YoY 0.0 0.0 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 H1 2023 Production A
Slide 13: South Africa
South Africa Tough start to 2023 koz US$/oz South Africa - production and AIC 180 -5% 1,600 Production decreased 160 1,400 140 120 1,200 1,000 5% YoY 100 800 80 600 60 40 400 All-in Costs of US$1,387/oz 20 200 0 0 -3% YoY H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 H1 2023 Production AIC H1 2023
Slide 14: Ghana
Ghana Steady operating performance koz Ghana - production and AIC US$/oz Production decreased 6% YoY 500 450 -6% 1,400 1,200 360koz 400 350 1,000 driven by decrease at Damang 300 800 250 200 600 All-in Costs of US$1,210/oz 150 400 100 50 200 -2% YoY 0 0 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 202
Slide 15: Peru
Peru Solid operational performance koz (Au eq) US$/eq oz Americas - production and AIC Production increased +4% 160 140 1,400 1,200 4% 120 1,000 Driven by higher grades and 100 800 recoveries 80 600 60 400 All-in Costs of US$990/eq. oz 40 20 200 +1% YoY 0 0 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2
Slide 16: SALARES NORTE UPDATE
z SALARES NORTE UPDATE Salares Norte employees at the core shed
Slide 17: Salares Norte
Salares Norte Tracking the revised plan Key developments • Progress: 94% at the end of June 2023 (87% at end of December 2022) • Total capex of US$881m spent by end-June 2023. Capex of US$124m spent during H1 2023 Total project • Chinchilla Relocation Plan approved by the Chilean environmental autho
Slide 18: Salares Norte in pictures
Salares Norte in pictures Salares Norte plant Ore stockpile Salares Norte plant Salares Norte tailings storage facility 18 Gold Fields | H1 2023 results | 17 August 2023
Slide 19: FINANCE
z FINANCE St Ives processing plant
Slide 20: Financials: Salient features
Financials: Salient features Normalised earnings Adjusted free cash flow Good cost performance US$454m US$140m AIC: US$1,398/oz -9% YoY -52% YoY +3% YoY Interim dividend Net debt 2019 revolving credit facility (RCF) refinanced with a R3.25/share US$1,028m sustainability-linked RCF Payout ratio of 35
Slide 21: New ESG linked Revolving Credit Facility
New ESG linked Revolving Credit Facility Provides Gold Fields significant flexibility Salient features: • Principal amount : US$1.2bn with the option to increase by up to US$400m • Maturity: Five years with the option to extend through two 1-year extensions • Loan terms linked to the achievement of
Slide 22: Healthy internal cash generation despite inflationary headwinds
Healthy internal cash generation despite inflationary headwinds H1 2023 (US$m) Gruyere 60 Adjusted free cash flow from Granny Smith 65 operations St Ives 90 Agnew 59 US$482m Gold Fields Australia (76) South Deep 97 Damang 18 Adjusted free cash flow Tarkwa 98 Cerro Corona 71 US$140m Adjusted free cas
Slide 23: Balance sheet remains healthy
Balance sheet remains healthy Available facilities at 30 June 2023 3,500 Net debt 3,000 2,500 2,000 57% US$1,028m 1,500 56% Up from US$704m at Dec 2022 1,000 43% 500 44% 40% 0 100% 60% US$ facilities Rand facilities ZAR A$ facilities Total facilities Utilised Unutilised Net debt to EBITDA Maturity s
Slide 24: CONCLUSION
Exploration team in the Salares Norte surrounds z CONCLUSION
Slide 25: Progressing our strategic initiatives
Progressing our strategic initiatives • We took a significant step on our culture journey by launching the “Gold Fields Way” in April • Gold Fields Way summit held in London in June • Pillar 1: Maximising the potential of our current assets • Asset optimisation framework developed and key initiative
Slide 26: 2023 Group outlook and guidance (unchanged)
2023 Group outlook and guidance (unchanged) FY 2023 Group guidance – excluding Asanko • Attributable equivalent gold production: 2.25Moz – 2.30Moz • Costs • AISC: US$1,300/oz – US$1,340/oz • AIC: US$1,480/oz – US$1,520/oz • Capex • 2023: Total capex: US$1.11bn – US$1.17bn • Exchange rate assumptions
Slide 27: THANK YOU
THANK YOU Questions? Member of: The Windfall project in Quebec, Canada 27
Slide 28: Appendix 1: Inflation analysis at end-June 2023
Appendix 1: Inflation analysis at end-June 2023 Weighting of Group Effective mining inflation Group Latest CPI 2023 Plan absolute AIC forecast F2023 Australia 38.3% 6.0% 6.0% 6,1% South Africa 12.8% 5.4% 7.8% 7.3% Ghana (US based) 27.1% 3.0% 8.5% 4.6% Chile (US based) 13.9% 3.0% 5.7% 5.5% Peru (US b