Slide 1: Gold Fields FY 2021 Results
Gold Fields FY 2021 Results Chris Griffith: CEO Sunrise at South Deep Mine in South Africa
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward-looking statements in this document include
Slide 3: FY 2021 results agenda
FY 2021 results agenda Gold Fields purpose & vision Chris Griffith FY 2021 highlights Chris Griffith Safety and sustainability Chris Griffith Operations Chris Griffith Financials Paul Schmidt Salares Norte update Chris Griffith Conclusion Chris Griffith 3 Gold Fields | FY 2021 results | 17 February
Slide 4: Key takeaway message here
KEY TAKEAWAY MESSAGE HERE Gold Fields | FY 2021 results | 17 February 2022
Slide 5: Highlights for FY 2021
Highlights for FY 2021 Solid Business Performance, despite Covid and inflationary challenges Safety: Good progress on safety – reduction in injury rates -10% ESG: Continue to make good progress - 2030 priorities and targets launched Operations: Increase in attributable gold equivalent production +5%
Slide 6: A globally diversified gold miner
A globally diversified gold miner FY 2021 Snapshot Gold Fields Group Mines: 9 Projects: 1 Countries: 5 Att. production: 2,340koz AIC: US$1,297/oz Mine cash flow: US$913m Adjusted Free cash flow**: US$463m West Africa region Mines: Tarkwa, Damang and Asanko Att. production: 793koz AIC: US$1,112/oz Mi
Slide 7: Safety & Sustainability (ESG)
z SAFETY & SUSTAINABILITY (ESG)
Slide 8: Covid-19
Covid-19 Navigated Covid reasonably well in 2021 • Major impact on our people • 17 deaths in 2021 • 2 waves • Production loss in Q1 2021 • South Deep: 9.6koz gold • Cerro Corona: 20.0koz gold • Disruption to Salares Norte Project • Additional costs of c.US$29m • Great progress on vaccinations - 83%
Slide 9: Improving safety performance
Improving safety performance Safety, Health and Covid-19 Serious & Fatal injuries Serious and fatal injuries & severity rate Severity rate 30 44 50 45 Safety 25 40 32 35 20 30 • 1 fatality – Vumile Mgcine, a shaft timberman, died 23 30 15 25 from injuries at South Deep 26 19 20 10 15 • 9 serious inj
Slide 10: Making good progress on ESG
Making good progress on ESG ESG Charter • ESG strategic priorities and 2030 targets released in December Renewable energy • Renewable energy and low carbon sources at Agnew (16MW wind, 4MW Solar, 18MW gas) and Granny Smith (8MW solar, 35MW gas) now fully implemented • Tarkwa and Damang fully convert
Slide 11: Recognition of our ESG achievements
Recognition of our ESG achievements 2021: 3rd / 70 mining companies Top 30 Responsible Investment Index 2021: 13th / 114 precious metals Inclusion in 2022 Bloomberg gender- companies equality index 2021: “Good performance” in IAR 2021: A rating Awards 2021: E 1, S 1, G 1 2021: WDP A- FTSE4Good 2021:
Slide 12: Gold Fields' 2030 ESG targets
Gold Fields’ 2030 ESG targets 1 DECARBONISATION 2 TAILINGS MANAGEMENT 3 WATER STEWARDSHIP • 50% absolute emission and 30% net • Conformance to the Global Industry • 80% water recycled/reused emission reductions from 2016 baseline Standard on Tailings Management • 45% reduction in freshwater use from
Slide 13: Operations
Bal me OPERA ION S\. Sen i et
Slide 14: Group: solid operational performance
Group Solid operational performance Group - production and AIC 2 400 +5% 1 400 Production increased 2 300 1 200 2 200 2 100 1 000 5% YoY 2 000 800 1 900 600 2,340koz 1 800 400 1 700 1 600 200 1 500 0 FY 2019 FY 2020 FY 2021 Adjusted free cash flow margin Production AIC 25% FY 2020 FY 2021 Managed pr
Slide 15: Australia: maintained operational performance
Australia Maintained operational performance Australia - production and AIC 1 200 +/- 1 400 Production maintained 1 000 1 200 800 600 1 000 800 1,019koz 600 400 400 200 200 0 0 FY 2019 FY 2020 FY 2021 Adjusted free cash flow Production AIC margin FY 2020 FY 2021 26% Attributable production koz 1,017
Slide 16: West Africa: strong cash generation
West Africa Strong cash generation West Africa - production and AIC 1 000 +1% 1 200 Production increased 900 800 700 600 1 000 800 1% 500 600 driven by increase at 400 400 Damang 300 200 200 100 0 0 FY 2019 FY 2020 FY 2021 Adjusted free cash flow margin Production AIC 28% FY 2020 FY 2021 Managed pro
Slide 17: Americas: navigating a tough year
Americas Navigating a tough year Americas - production and AIC 350 1 200 300 1 000 Production increased +20% 250 200 150 800 600 20% 400 100 200 Driven by higher price factor 50 0 0 FY 2019 FY 2020 FY 2021 Production AIC Adjusted free cash flow margin FY 2020 FY 2021 17% Au Eq production koz 207 248
Slide 18: South Africa: great performance
South Africa Great performance – exceeding guidance South Africa - production and AIC 350 1 600 300 +29% 1 400 Production increased 1 200 250 200 150 1 000 800 29% 600 100 400 Exceeding original guidance 50 200 6.9t 7.1t 9.1t 0 0 FY 2019 FY 2020 FY 2021 Production AIC Adjusted free cash flow margin
Slide 19: South Deep: encouraging productivity trends continue
South Deep Encouraging productivity trends continue t/rig/month m/rig/month Development and destress m/rig/month Long hole stoping tons/rig/month +11% +18% 16000 90 85 +8% 14 345 +20% 14000 12 968 80 72 11 966 12000 70 60 60 10000 50 50 8000 7 040 6 708 40 33 6000 30 4000 20 2000 10 0 0 2017 2018 20
Slide 20: Finance
z FINANCE
Slide 21: Solid financial performance
Solid financial performance Normalised earnings per share 1,10 Normalised earnings Adjusted free cash flow +5% 1,05 US$929m US$463m 1,05 +6% YoY 1,00 1,00 Final dividend Net debt 0,95 R2,60/share US$969m Total dividend declared of Net debt to EBITDA 0.40x R4,70/share 0,90 FY 2020 FY 2021 Gold Fields
Slide 22: Strong internal cash generation
Strong internal cash generation The mines generated close to US$1bn in cash flow FY 2021 Adjusted free cash flow from ops. South Deep 97.0 194.3 US$913m Tarkwa Damang 98.0 Despite higher tax payments Cerro Corona 57.1 St Ives 266.2 Agnew 112.1 Granny Smith 160.5 Gruyere 59.5 GFA (132.0) Free cash fl
Slide 23: AIC increase due to capex and exchange rates
AIC increase due to capex and exchange rates Capital and exchange rates driving inflation AISC +9% YoY 1,350 US$1,063/oz 1,310 At 2020 exchange rates: US$1,006/oz (+3% YoY) AIC +20% YoY US$1,297/oz At 2020 exchange rates: US$1,236/oz (+15% YoY) FY 2021 AIC guidance US$1,310/oz – US$1,350/oz Comforta
Slide 24: Strong cash flow leads to healthy balance sheet
Strong cash flow leads to healthy balance sheet Available facilities at 31 Dec 2021 3500 Net debt 3000 2500 2000 US$969m 1500 Down from US$1,069m at Dec 2020 1000 500 0 US$ facilities Rand facilities A$ facilities Total facilities Utilised Unutilised Net debt to EBITDA Maturity schedule at 31 Dec 20
Slide 25: Salares Norte Update
z SALARES NORTE UPDATE
Slide 26: Salares Norte: critical path remains on track
Salares Norte Critical path remains on track Total project Construction Plant Mining Exploration • Progress: 62.5% at • Progress: 55.0% at • Progress: 35.5% vs. • 22.9Mt moved to date • District exploration: end-December vs. plan end-December vs. plan plan of 42.1% vs. plan of 17.3Mt 23,848 metres d
Slide 27: Salares Norte in pictures
Salares Norte in pictures Bird’s eye view of the Salares Norte processing plant site Gold Fields | FY 2021 results | 17 February 2022
Slide 28: Salares Norte in pictures
Salares Norte in pictures Steel work installation at the grinding area Installation of the thickeners, CIP and leaching tanks HME workshop Construction of the coarse ore stockpile facility Gold Fields | FY 2021 results | 17 February 2022
Slide 29: Salares Norte in pictures
Salares Norte in pictures Bird’s eyeview of Brecha Principal Mine layout Mine layout BP1 BP3 BP2 BP1 Mine layout Mine layout Gold Fields | FY 2021 results | 17 February 2022
Slide 30: Salares Norte 3-year outlook
Salares Norte 3-year outlook Koz eq Production: Gold equivalent 2023 production build-up 600 140 550 9 120 500 100 400 123 80 300 60 6 203 40 200 57 20 1 100 6 0 0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 0 2022 2023 2024 Gold Gold eq. from Silver • 2022 – project construction • Ramp up forecast as per McNul
Slide 31: Conclusion
z CONCLUSION
Slide 32: Guidance for Damang and South Deep
Guidance for Damang and South Deep Damang production outlook South Deep production outlook 300 400 380 254 363 250 229 223 350 340 208 312 200 350 335 300 293 150 320 150 309 120 100 250 100 222 227 50 200 0 150 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 • Damang Reinvestm
Slide 33: 2022 Group outlook and guidance
2022 Group outlook and guidance FY 2022 Group guidance – excluding Asanko Att. Equivalent gold (excl. Asanko) • Attributable equivalent gold production: 2.25Moz – 2.29Moz 2900 • Costs 2800 2,770 • AISC: US$1,140/oz – US$1,180/oz 2700 • AIC: US$1,370/oz – US$1,410/oz 2,720 • AIC (excl. Salares Norte)
Slide 34: Thank you
THANK YOU Questions?
Slide 35: Appendix 1: Cost and inflation breakdown per region
Appendix 1: Cost and inflation breakdown per region Cost Breakdown Australia Ghana Peru South Africa Group Salaries & wages 21% 17% 22% 35% 22% Mine contractors 34% 48% 40% 13% 35% Consumable stores 12% 20% 15% 29% 18% Utilities 7% 6% 6% 12% 8% Other 26% 9% 17% 11% 17% 2022 Effective mining inflatio