Gold Fields Limited · JSE:GFI
Gold Fields — BofA Global Metals, Mining and Steel Conference May 2026
12 slides from Gold Fields's conference presentation, May 2026
Slide 1: Gold Fields
Gold Fields BofA Global Metals, Mining and Steel Conference May 2026 Mike Fraser: CEO 1
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: Globally diverse portfolio of quality assets
Globally diverse portfolio of quality assets FY 2025 att. gold production contribution Gold Fields Group Chile: 16% Mines: 8 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% Adjusted f
Slide 4: Clear strategy to create a best-in-class pure-play gold producer
Clear strategy to create a best-in-class pure-play gold producer THE WHY THE WHAT THE HOW Our purpose Our strategy Our culture of care and accountability Operate in a safe, reliable and Gold Fields Way is the mechanism through cost-effective way which we activate and embed this culture. It is made u
Slide 5: Gold Fields positioned to outperform
Gold Fields positioned to outperform Best-in-class production and cost profile relative to peers with near- and long-term optionality • • Focused Focused five year plan: five-year Clearly identified roadmap for growthopportunities and value at each operation to optimize value • • Growth pipeline: In
Slide 6: Industry leading production and cost, trading at a discount
Industry leading production and cost, trading at a discount Attractive relative valuation and cash flow generation… EV/EBITDA (2026e) (1) 7,5x 6,6x 6,3x Peer Avg. (6x) 5,6x 5,2x 5,0x 4,5x Gold Fields Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 FCF Yield (2026e) (1) 10,0% 9,0% 9,0% 8,0% Peer Avg. (7.2%
Slide 7: 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: DEVEL
Slide 8: Windfall: The Foundation for increased scale, scope and life
Windfall: The Foundation for increased scale, scope and life Project Highlights Project update • Scalable, multi-decade asset with lower • EIA expected in H1 2026. quartile costs • Final investment decision thereafter with updated to be provided with H1 results • Average production >300 koz p.a. ann
Slide 9: Windfall: Building a multi-decade district
Windfall: Building a multi-decade district Windfall Competitive land MII Resource 7.4 Moz Au (1) 4.1 Moz M&I at 11.4 g/t Au holding secured Osborne Bell 3.3 Moz Inf at 8.4 g/t 0.51 Moz at 6.13 g/t (Inf) (2) Highly prospective: • Strong pipeline of targets Gold Fields Urban-Barry and Quévillon camp c
Slide 10: Greenfields Exploration: Deep Pipeline of Opportunities
Greenfields Exploration: Deep Pipeline of Opportunities Target: High-margin discoveries with potential to deliver ~200 koz p.a. for >10 years Focus: Proven, world-class mineral provinces we know well. Still delivering discoveries and growth Portfolio: >20 projects globally. Mix of 100% owned, JV and
Slide 11: 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 Base dividend of 35% of free cash flow before discretionary growth investments wit
Slide 12: Thank You
Thank You 12 Agnew wind turbines, Australia
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