Slides
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Mike Fraser: CEO 25 August 2026 Alex Dall: CFO Gold Fields H1 2026 Results
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Gold Fields | H1 2026 Results Note to investors This presentation 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 presentation may be forward-looking statements. Forward-looking statements may be identified by the use of words such as "aim", "anticipate", "will", "would", "expect", "may", "could", "believe", "target", "estimate", "project" and words of similar meaning. These forward-looking statements, including among others, those relating to Gold Fields’ future business strategy, development activities (including the approvals, permitting, development, operations and final investment decision relating to the Windfall Project) and other initiatives, anticipated benefits of acquisitions or joint ventures (including the acquisition of Gold Road Resources Limited), ability to successfully renew, extend and/or retain mining rights, licences or other interests (including the satisfaction of licence conditions), ability to conclude divestments on favourable terms (if at all), business prospects, financial positions, production and operational guidance, shareholder returns, climate and ESG-related statements, targets and metrics, are necessary estimates reflecting the best judgement of the senior management of Gold Fields and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward- looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth in Gold Fields’ Integrated Annual Report 2025 filed with the Johannesburg Stock Exchange and the Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (SEC)on 30 March 2026 (SEC File no. 001-31318). Readers are cautioned not to place undue reliance on such statements. These forward-looking statements speak only as of the date they are made. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflects the occurrence of unanticipated events. These forward-looking statements have not been reviewed or reported on by the Company’s external auditors. This presentation includes certain non-International Financial Reporting Standards (IFRS) financial measures, including all-in sustaining cost (AISC), all-in cost (AIC), and adjusted free-cash flow. These measures may not be comparable to similarly-titled measures used by other companies and are not measures of Gold Fields financial performance under IFRS. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The financial information contained in this presentation has not been reviewed or reported on by Gold Fields' external auditors. 2 Forward Looking Statements
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Gold Fields | H1 2026 Results Agenda 3 Focused on delivery, value and growth 01 Highlights 02 Operational performance 03 Financial performance and capital allocation 04 Growth 05 Strategy and outlook 06 Q&A
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Highlights
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Gold Fields | H1 2026 Results Strong performance delivered in H1 2026 With increased production, cash flow and earnings 5 01 • Zero fatalities and serious injuries recorded as safety improvement plan continues to progress • 12% increase in attributable gold production YoY driven by strong performance at Salares Norte and Granny Smith and South Deep continuing to meet planned performance • Salares Norte production up 173% YoY with the mine well positioned to outperform full- year guidance • All in costs up 9% YoY despite impact of external factors including higher royalties, stronger producer currencies and inflation • Production and costs tracking to meet annual guidance 02 • 134% increase in Adjusted Free Cash Flow (FCF) delivering a yield of 11%2 • Interim dividend of 1,625 SA cents per share declared (132% higher YoY). • US$300 million share buy backs completed¹ • Further US$500 million allocated to additional shareholders returns bringing the total to US$1.25 billion (of which US$553 million has been distributed) • Net debt/adjusted EBITDA of 0.06x, down from 0.37x in H1 2025, reflecting continued balance sheet strengthening 03 • Salares Norte ramped up and outperformed relative to plan • Key milestone reached for the Windfall Project with signing of Impact Benefit Agreement (IBA) with the Cree First Nation. Approval of the Environmental Impact Assessment (EIA) expected in H2 2026. Focus continues on detailed engineering and execution planning to derisk the project, as well as exploration drilling • Disposal of non-core investments generated US$182 million (royalties portfolio and non-core equity stakes) • Damang transition completed. • Investment in brownfields and greenfields exploration of US$179 million (including Windfall) 1. US$300 million of shares were repurchased between April and July 2026, with some of the repurchases taking place post period end. 2. Calculated based on annualised H1 2026 Free Cash Flow (FCF), weighted average shares in issue and the average US$ share p rice for the period OPERATIONAL DELIVERY STRONG CASH FLOW GENERATION ENABLING COMPETITIVE SHAREHOLDER RETURNS GROWTH AND PORTFOLIO OPTIMISATION
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Operational performance
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Gold Fields | H1 2026 Results Safety 7 Our safety improvement plan launched in 2024 continues to progress 0 FATALITIES 0 SERIOUS INJURIES Key focus areas Embedding vital behaviours and consistent safety standards Strengthening visible leadership - including rollout of Visible Felt Leadership coaching to middle managers Critical risk management - including critical-control verification Increased hazard and near miss reporting and enterprise-wide learning from incidents Improving Business Partner Management While we are encouraged by these results, our focus remains on ensuring that everyone returns home safe and well every day.
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Gold Fields | H1 2026 Results Operational performance* Reliable delivery tracking to meet annual production and cost guidance ATTRIBUTABLE PRODUCTION 1.267Moz (+12%) (H1 2025: 1,136Moz) ALL IN COSTS US$2,125/oz (+9%) (H1 2025: US$1,957/oz) Controllable costs in line with plan however costs under pressure owing to external factors including gold price-linked royalties, stronger producer currencies and inflation. Group production underpinned by outperformance at Salares Norte and Granny Smith and delivery in line with plan at South Deep. Group production is tracking to the upper end of full-year guidance. ALL IN SUSTAINING COSTS US$1,893/oz (+13%) (H1 2025: US$1,682/oz) ↑ ↑ ↑ CAPITAL EXPENDITURE US$709m (+6%) (H1 2025: US$667m) Recovery plans at Gruyere and Tarkwa are being executed - delivering improved performance in Q2 2026. Integrated transformation programme progressing to improve productivity, cost competitiveness and organisational resilience is gaining traction. PRODUCTION AND COSTS ON TRACK TO MEET ANNUAL GUIDANCE TOTAL CASH COSTS US$1,180/oz (+10%) (H1 2025: US$1,068/oz) ↑ ↑ 8 * Includes discontinued operation Damang
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Gold Fields | H1 2026 Results Production volumes (koz) Salares Norte outperformed while recovery plans continue at Tarkwa and Gruyere 9 In line with plan as transitioning from, IFWS to Santa Anna Inclusion at 100% instead of 50% Lower due to planned stockpile processing Strong H1 performance, driven by higher haulage fleet availability. Lower mill feed grades and grade reconciliation. Attributable Production Bridge: 2025 to 2026 H1 2025 1 136 Cerro Corona (40) Salares Norte 213 Tarkwa (37) Damang (27) South Deep (7) Agnew (19) St Ives (15) Granny Smith 14 Gruyere 48 H1 2026 1 266 H1 2025 VS H1 2026 ATTRIBUTABLE PRODUCTION (koz) Impact of seismic event in Q1. Recovery underway Attributable Production Bridge: 2025 to 2026 Ramp up successfully completed Transitioned out of the portfolio in April
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Gold Fields | H1 2026 Results Costs All-in-Sustaining Cost (AISC) analysis 10 GROUP AISC: H1 2025 VS H2 2026 (US$/oz) MANAGEMENT FOCUS 1,682 H1 – 2025 210 ( 13%) FX 104 ( 6%) Inflation 55 ( 3%) Royalties (182) ( 11%) By-Product credits 32 ( 2%) Oil Price 43 ( 3%) Mining 122 ( 7%) Processing 94 ( 6%) G&A (7) Other Capex (21) ( 1%) GIP and other (240) ( 14%) Gold Sold 1,893 H1 - 2026 KEY INSIGHTS STRUCTURAL COST External structural cost drivers increases over the period: • Inflation: ~6% • Royalties: Significantly higher gold price (Spot: ~US$4,100 vs ~US$3,090 in 2025) • By-product credits (offset): Significantly higher copper and silver price • Higher strip ratio’s, mining at depth resulting in higher mining costs per ounce sold CONTROLLABLE COST Changes in the cost base during the period: • Salares Norte Commercial production: Transition of processing and G&A costs from capitalised to expensed following commercial production. • Gruyere consolidation: Inclusion of costs and production ounces at 100% ownership, compared with 50% in H1 2025. Operational and controllable cost increases during the period: • Mining costs: Higher contractor mining rates at Tarkwa, contractor rate increases at Gruyere, and increased labour hire and contractor costs across the Australian operations. • Processing costs: Higher planned shutdown expenditure. • G&A costs: Commercial levels of production at Salares and consolidation of Gruyere EXTERNAL FACTORS 1,901 H1 2025 Rebased
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Gold Fields | H1 2026 Results FOSTERING RESPECT • 27,8% female diversity targets achieved (Target 27%) • 28,8 % Women in management continues to be an area of focus (Target 30%) • 51% Culture actions from employee perception survey implemented SOCIAL STEWARDSHIP • 88% of Thusano Trust proceeds distributed, US$440.5 million (ZAR7.37 billion) paid to beneficiaries in South Africa • Impact Benefit Agreement signed with Cree First Nation partners for the Windfall Project • Native Title Agreement signed with Wangkatja Tjungula Aboriginal Corporation (WTAC) for Granny Smith mine STAKEHOLDER VALUE CREATION Social and environmental impact 11 Shared value strengthens the foundation of long-life assets MITIGATING CLIMATE CHANGE PRESERVE NATURAL RESOURCES PREVENTING SERIOUS ENVIROMENTAL INCIDENTS Total value created for stakeholders US$4.96bn US$941m 26% directed to host communities (against 30% target for 2035) Renewable Energy 181 GWh (17% of Group consumption) GISTM Self-Assessments completed for High- Priority TSFS Global GISTM Conformance Maintained 0 Serious Environmental Incidents 93% Water recycled/reused in freshwater catchments Ahead of 80% target • St Ives Renewables Energy Project substantially complete. Commissioning in H2 2026
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Financial performance and capital allocation
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Gold Fields | H1 2026 Results Financial performance Higher gold price and sales volumes deliver a step change in earnings and cash HEADLINE EARNINGS PER SHARE US$2,08 (+81%) (H1 2025: US$1.15) ADJUSTED FCF BEFORE DISCRETIONARY INVESTMENTS US$2,510m (+101%) (H1 2025: US$1,251m) Additional deleveraging and further strengthening of balance sheetHigher sales volumes and gold prices translated into strong financial results. ↑ ↑ NET DEBT US$437m (H1 2025: US$1,487m) Adjusted free cash flow more than doubled, reflecting materially higher operating cash flow and disciplined capital expenditure. Net cash position of US$22m, excluding lease liabilities NET DEBT/ ADJUSTED EBITDA 0.06x (H1 2025: 0.37x) ADJUSTED FCF PER SHARE US$2,49 (+135%) (H1 2025: US$1.06/share) ↑ ↑↑ 13 ADJUSTED FCF US$2,225m (+134%) (H1 2025: US$952m) ↑
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Gold Fields | H1 2026 Results Cash cost to AISC reconciliation A competitive underlying cash cost, with sustaining investment the largest step to AISC H1 2026 FROM IFRS COST OF SALES TO AIC US$/oz gold sold Competitive cash cost enabling reinvestment in our assets Cost of sales breakdown Before gold inventory change and D&A (continuing ops) US$1,609m Mine & other contractors $599.8m 37% Salaries & wages $284.2m 18% Consumables $261.2m 16% Maintenance $102.9m 6% Utilities $107.6m 7% Corporate G&A $68.3m 4% Insurance, consultants & IT $49.4m 3% Third-party royalties $36.0m 2% Remaining other $99.9m 6% Gold inventory charge +US$69.3m Cost of sales before D&A: US$1,678.6m -520 -115 -267 118 497 61 154 82 144 7 1 963 1 180 1 893 2 125 Cost of sales Depreciation GIP and Corp G&A By products Royalties Cash cost Sustaining capital Leases Other AISC Growth capital Exploration Other AIC Cost of sales (+52%) and depreciation (+69%) increased in H1 2026 due to: • Full consolidation of Gruyere (including acquisition fair value adjustments) • Salares Norte achieving commercial production In line with CMD priorities, higher sustaining capital reflects targeted reinvestment through waste stripping, underground development and enabling infrastructure to extend mine life and support future production. * * Other consists out of LTIP, SBP, Corporate G&A, Cash GIP, Rehab and Exploration Sustaining capital of US$497/oz represents targeted reinvestment into our asset base, ensuring safe and reliable operations while preserving future production capacity and long-term value. (continuing and discontinued ops) Windfall US$126m 14
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Gold Fields | H1 2026 Results Base Dividend 15 Disciplined Capital Allocation Strategy YTD $0.6bn Investment Grade YTD $0.3bn Net Debt reduction $0.8bn YTD 0.4bn • Ongoing sustaining capital to ensure safe reliable and cost-effective operations • Credit ratings maintained at investment grade at Baa3 (positive outlook) and BBB- (stable) • Investing in increasing life and lowering costs at St Ives and Granny Smith • Investing in our future at Windfall • Exploration opportunities • Net debt position improved to US$0.4bn with US$2.2bn cash on hand and US$1.7bn available facilities • US$253 million special dividend declared in February 2026 and paid in March 2026 • US$300 million buy-backs completed between April and July 2026 • Additional shareholder returns programme increased from US$750m to US$1.25bn. US$553m returned to date to shareholders Sustaining Capital Credit Ratings Growth Capital Balance Sheet flexibility Additional Returns Capital Allocation PrioritiesRemaining cash flow competes $1.0bn • Payout ratio of 35% of free cash flow before discretionary capital • FY25 final dividend of 1,850 SA cents per share declared in February 2026 • FY26 interim dividend declared of 1,625 SA cents per share payable in September 2026 (+132% YoY) Additional Returns1 Dividends $3.1bn2 Growth Capital Sust Capital DISTRIBUTION OF CASH FLOW FROM OPERATION Cash Disciplined capital allocation More than 61% of adjusted free cash flow paid to shareholders 1. Includes payment of special dividend and share buy backs executed before June 2026. 2. Adjusted free cash flow before capital Net cash from operations of $3.1bn Cash from operations net of changes in working capital 15 61% of adjusted free cash flow generated in H1 2026 paid to shareholders
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Gold Fields | H1 2026 Results 16 Additional returns Over and above the base dividend we are topping up shareholder returns November 2025 Programme established US$500m allocated to additional shareholder returns programme above the base dividend. February 2026 Allocated amount Increased to US$750m Special dividend declared; US$100m share buyback programme announced. March 2026 US$253m special dividend paid First distribution delivered under the programme. April–July 2026 US$300m of buybacks completed August 2026 Further US$500m allocated Programme capacity increased to US$1.25 billion. February 2027 Next review point Further additional returns assessed against cash generation and the outlook Additional shareholder return programme1 16 Allocated to programme US$1.25bn Returned to shareholders to date US$553m A Disciplined and flexible returns framework A repeatable framework for returning surplus capital while preserving capacity to invest through the cycle Special dividend – considered alongside the annual dividend declaration Share buybacks – executed opportunistically where they enhance shareholder value. Programme size reviewed every six months – Assessed against surplus cash, investment requirements and balance sheet capacity 1. Subject to applicable legal, regulatory and board approval requirements.
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Gold Fields | H1 2026 Results 17 Financial Performance 17 Substantial cash resources, low leverage and long-dated funding preserve strategic flexibility 1 487 791 1 442 1 304 437 0,37 0,17 0,26 0,19 0,06 - 0,05 0,10 0,15 0,20 0,25 0,30 0,35 0,40 - 200 400 600 800 1 000 1 200 1 400 1 600 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Net debt / EBITDA US$'m Net debt Net debt/EBITDA Net debt / EBITDA 0.06x Covenant: max 3.5x H1 2025: 0.37x Net debt US$437m H1 2025: US$1,487m Net Debt to Adjusted EBITDA Funding and liquidity Total cash US$2.2bn H1 2025: US$1.1bn Net cash (excluding Leases) (US$22m) H1 2025: US$1,055m Debt maturity (US$’m) (2,197) 501 925 744 2 175 2027 2028 2029 2030 2031 Total (22) 460 437 Cash Net Cash before Leases Leases Net Debt Liquidity and balance-sheet strength Net debt to EBITDA improved to 0.06x from 0.37x, driven by a reduction in debt resulting in a Net Cash (excl leases) position of US$22m and Net Debt (incl leases) of US$437 million. 17
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Gold Fields | H1 2026 Results 18 Transformation programme 18 How value is identified, delivered and sustained Productivity uplift Cost discipline Structured focus on the drivers of AISC Lower complexity Common ways of working across the Group Resilience Sustainable delivery through the cycle Fleet performance Dispatch, short-interval control, maintenance compliance Processing performance Reducing downtime and executing recovery optimisation Asset management Fleet strategy, parts sourcing, inventory discipline Support functions Operating model, vendors, approvals and technology What the initiatives will deliverPriority initiatives that we are executing Programme Overview – Practical value streams moving to delivery to improve operating capabilities and lock in gains 01 IDENTIFY VALUE Baseline performance, benchmark best demonstrated performance and identify gaps by asset and value stream 02 PRIORITISE AND MOBILISE Sequence initiatives, define charters and set value stream targets with clear owners and milestones 03 EXECUTE AND TRACK Move priority initiatives into delivery, with value tracking and regular delivery discipline 04 LOCK IN Embed gains through systems, processes, governance and routines The Backbone that locks it in Operating capabilities Common Systems Standard Processes Management Routines Governance Clear Accountabilities 18 A simpler, stronger and more consistent Gold Fields. Higher performance through improved efficiencies
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Growth
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Gold Fields | H1 2026 Results Salares Norte is delivering high-margin growth at scale H1 AISC US$269*/oz eq * Net of by products H1 production | +173% YoY 337koz eq H1 adjusted free cash flow US$1.19bn 2026 ANNUAL PRODUCTION FORECAST REVISED UPWARD 550 -600koz eq A scaled, low-cost growth engine – expanding margins, generating cash and strengthening the Group production profile Steady-state delivery today, with further upside from mine development and exploration 2026 FOCUS AREAS • Sustain steady-state throughput and operating reliability • Progress Agua Amarga pioneering and pre-strip activities • Continue near-mine exploration to support further growth 20
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Gold Fields | H1 2026 Results Windfall continues to advance 21 Engineering and execution readiness progressing ahead of EIA approval and FID A high-quality, long-life growth option, with disciplined gating to protect returns before major capital commitment Disciplined readiness to protect schedule and capital delivery EIA APPROVAL EXPECTED H2 2026 • One of Canada's highest-grade development-stage gold deposits • Considerable growth prospects along strike and down plunge • Prospective land package across the district expected to provide a long-life, low-cost production platform • Exploration across a target-rich pipeline being progressed • Engineering, execution planning and operational readiness advancing • Procurement, constructability and project controls progressing before FID • Experienced team to execute project development IBA SIGNED PROJECT DE-RISKING CONTINUES
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Gold Fields | H1 2026 Results Windfall: Depth extensions to deliver consistently high grades Reserve growth opportunity through conversion and extension Long Section Projection Looking North-Northwest MasèresShearZone Main Underdog Lynx Triple 8 Depth: 2,400 m Depth: 1,400 m Depth: 400 m Surface (400 mRL) ENEWSW WST-25-2964B 3.9 m at 39.2 g/t WST-25-2886A 1.6 m at 35.0 g/t WST-25-2886 4.2 m at 39.2 g/t WST-26-3271 2.4 m at 22.9 g/t WST-26-3246 1.2 m at 69.8 g/t WST-26-3213 0.7 m at 38.2 g/t WST-26-3123A 2.1 m at 17.2 g/t WST-26-3202A NSI Mined Proposed mining Resource conversion potential Exploration corridor Map Legend 0 0.5 1 Scale (km) 2026 2027 2028 2029 Planned Drilling Resource conversion drilling Resource conversion drilling Exploration growth potential Gram-Metre Legend (g.m) Intervals are estimated true width 200 100 50 20 10 Assays pending WST-26-3218A NSI WST-26-3347 pending New intercepts Previously reported 22
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Gold Fields | H1 2026 Results Windfall District: Expanding beyond the mine 23 A scalable discovery platform A secured, underexplored district, budget and team in place to test it Regional drill program – Windfall district, Québec A scalable discovery platform ✓ District secured: 2,500 km² controlling land position. ✓ Underexplored: 70% of drilling concentrated on 10% of the landholding. ✓ Target-rich: Strong pipeline along key structural corridors. ✓ Ready to accelerate: Permits, budget and experienced team in place. Objectives 1 Find the next Windfall 2 Extend mine life, and unlock additional feed and flexibility 3 Invest ~US$25 pa. in exploration District scale | Infrastructure leverage | Multiple pathways to growth
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Gold Fields | H1 2026 Results More than 10 Moz discovered since acquisition and rate of discovery still increasing (+40% in last 3 years) Through scale of Invincible, diversified ore feed and preserve processing optionality St Ives offers a staged pathway to unlock long-life growth 3.4Mtpa Materials handling to increase Invincible production from 2.0 to 3.4Mtpa (90koz) >20 years Mine-life potential across strategic cases Exploration and alternative ore sources preserve multi-decade optionality US$43/oz Low historical Reserve conversion cost 2019–2024 STAGED GROWTH PATHWAY 01 ENABLE INVINCIBLE SCALE Integrate materials handling and stabilise the ramp-up to 3.4Mtpa 02 DIVERSIFY ORE FEED Santa Ana, Britannia and other near-surface sources can fill latent mill capacity 03 PROTECT PRODUCTION CONTINUITY Argo cutback and the TSF strategy strengthen mining and processing resilience 04 RETAIN FURTHER UPSIDE Stage mill and recovery studies while continuing investment in the prospective tenement package 10-Year Reserve position at St Ives (Reserve in koz) 1,740 2016 1,568 2017 1,740 2018 2,283 2019 2,685 2020 2,412 2021 2,713 2022 2,610 2023 3,347 2024 2025 3,854 ~300km Exploration drilling planned over the next 3 years 24
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Gold Fields | H1 2026 Results 25 Unlocking growth and returns from other existing assets Multiple pathways to extend mine life, lift production and enhance long-term value Leveraging existing infrastructure and geological potential to deliver capital-efficient growth across the portfolio GRUYERE • Stage 8 / underground trade-off to secure medium-term ore • Progress Gilmour open-pit and underground options • Accelerate target-rich Yamarna exploration GRANNY SMITH • Extend Wallaby at depth through Zones 150 and 160 • Advance materials handling for scale and reliability • Fill latent mill capacity with open-pit feed SOUTH DEEP • Ramp production toward 13.5tpa • Advance South of Wrench drilling and integration • Preserve shaft and renewable-energy options • Continue to progress shaft and renewable energy studies TARKWA • Lift productivity through fleet, benches and plant • Preserve Kottraverchy underground upside • Sequence growth capital with lease- renewal progress
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Gold Fields | H1 2026 Results Greenfields expansion, building the next generation of growth SOUTH AMERICA — NEW DRILLING FRONTIERS • Wayra commenced, Peru's first greenfields campaign in over a decade • Villa Tati drilling continued in Chile AUSTRALIA — DISTRICT-SCALE PIPELINE • Everleigh JV with Iceni Gold secures a staged earn-in to a prospective WA project • 5.33% Augustus Minerals stake provides two drill-ready opportunities • Drilling advanced near Cadia with joint venture partner Gold and Copper Resources CANADA — REGIONAL-SCALE OPTIONALITY • C$24.5m programme advancing across a 2,500km² land package • Land access and field work position the next drilling phase FOUNDERS METALS — EMERGING GOLD DISTRICT • Interest increased to 19.9% following Antino exploration success • Maintains exposure to district consolidation and discoveries in Suriname Expanding a diversified exploration pipeline to support growth beyond 2035 US$179m invested in brownfields and greenfields exploration during H1 2026 26
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Strategy and outlook
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Gold Fields | H1 2026 Results Update on Tarkwa lease renewal 28 Renewal application submitted – formal response pending • Current mining leases expire in April 2027 - renewal application submitted in November 2025 • Comprehensive commercial proposal submitted to the Government of Ghana in July 2026 • Proposal supports continued investment, enhanced value sharing and long term socio-economic benefits for Ghana • Formal response awaited from the Government • The timing, outcome and terms of renewal remain uncertain • The market will be updated of material developments
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Gold Fields | H1 2026 Results Annual guidance maintained 29 H1 delivery has strengthened the base Maintained guidance reflects the strong H1 2026 delivery Production AISC AIC Group capex Sustaining capex 2.40Moz – 2.60Moz US$1,800/oz – US$2,000/oz US$2,075/oz – US$2,300/oz US$1.6bn – US$1.8bn US$1.3bn – US$1.4bn Maintained Maintained Maintained Revised downward Unchanged Expected to be towards upper end Towards lower end on lower capex Previously US$1.9– 2.1bn. Lower due to reclassification of Windfall expenditure Portfolio fully funded Expected to be towards midpoint
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Gold Fields | H1 2026 Results A compelling investment proposition Offering high cash flow yields and an attractive valuation QUALITY PORTFOLIO • Salares Norte strengthens mix and diversification. Experienced team to execute Windfall Project. OPERATING LEVERAGE IN EXISTING ASSETS • More than 50% of assets have upside that can be leveraged from existing infrastructure and installed capacity INDUSTRY LEADING GROWTH • Higher quality production and margin expansion support growth in free cash flow DISCIPLINED GROWTH OPTIONALITY • Brownfields opportunities and Windfall provide a funded pathway to long term growth CAPITAL ALLOCATION UNDERPINS RETURNS • Balance sheet strength supports reinvestment, demonstrated commitment and delivery of upper quartile shareholder returns 2027 Free cash flow yield (%) Consensus estimates, calendarised to December year end 0 4 8 12 10.1% Gold Fields 9.3% Peer 1 8.4% Peer 2 7.7% Peer 3 7.6% Peer 4 4.7% Peer 5 4.5% Peer 6 Gold Fields screens at the highest free cash flow yield in the peer set 2027 EV/EBITDA multiple (x) Consensus estimates, calendarised to December year end 0 2 4 6 8 10 9.2x Peer 1 7.3x Peer 2 7.0x Peer 3 6.7x Peer 4 5.9x Peer 5 5.2x Peer 6 4.9x Gold Fields Gold Fields trades at the lowest EV/EBITDA multiple in the peer set Financial capacity, disciplined growth and a demonstrated commitment to shareholder returns 30
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Q&A
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Appendix
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Gold Fields | H1 2026 Results Individual asset performance Performance Salient features Measure H1 2025 H1 2026 % change Gruyere • Production 17% lower on reduced mining productivity, high contractor turnover and Q1 rainfall • Recovery initiatives gained traction in Q2 (+13koz) and remain focus • Annual guidance at risk PRODUCTION (Au koz) 144.2 119.7 (17) AISC (US$/oz Au) 1,878 3,081 64 ADJUSTED PRE-TAX FCF (US$m) 85.7 175.2 104 St Ives • Costs impacted by planned stripping at Santa Ana • Mill reline brought forward into Q2; open pits and Hamlet partly offset the shortfall PRODUCTION (Au koz) 184.5 169.8 8 AISC (US$/oz Au) 1,627 2,283 40 ADJUSTED PRE-TAX FCF (US$m) 191.1 334.1 75 Granny Smith • Higher haulage fleet availability and record autonomous truck performance • Mining re-established in Z135 East; capex directed to Z135 and Wallaby infrastructure PRODUCTION (Au koz) 133.8 147.4 10 AISC (US$/oz Au) 1,506 1,787 19 ADJUSTED PRE-TAX FCF (US$m) 246.2 409.7 66 Agnew • Three seismic events restricted access at Waroonga in the first half • Lower-grade Barren Lands ore reduced yield; Q2 production 12koz higher PRODUCTION (Au koz) 121.5 102.8 (15) AISC (US$/oz Au) 1,373 2,231 62 ADJUSTED PRE-TAX FCF (US$m) 159.3 230.0 44 33
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Gold Fields | H1 2026 Results Individual asset performance 34 Performance Highlights Measure H1 2025 H1 2026 % change Salares Norte • Ramp-up completed and steady-state production established • Plant delivering above nameplate with better-than- planned reconciled head grades • Full-year contribution provides a benefit to Group cost mix PRODUCTION (Au koz) 120.8 294.3 144 AISC (US$/oz Au) 1,689 269 (84) ADJUSTED PRE-TAX FCF (US$m) 122.0 1,191.4 877 Tarkwa • H1 production impacted by lower grades, mining productivity and adverse weather • Recovery actions focus on drill reliability, productivity and blasted ore stocks PRODUCTION (Au koz) 232.9 191.9 (18) AISC (US$/oz Au) 2,035 2,671 31 ADJUSTED PRE-TAX FCF (US$m) 206.5 278.5 35 South Deep • Q2 performance improved. Water management, ventilation and backfill infrastructure enhanced. • Reef tonnes mined up 6%, with underground grade 9% lower PRODUCTION (Au koz) 153.1 151.0 (1) AISC (US$/oz Au) 1,770 2,169 23 ADJUSTED PRE-TAX FCF (US$m) 170.0 351.2 107 Cerro Corona • Processing low-grade stockpiles in line with the mine plan • In pit tailings construction progressed during the period • Lower sales volumes and inventory movements impacted unit costs PRODUCTION (Au koz) 60.1 31.9 (47) AISC (US$/oz Au) 319 1,284 303 ADJUSTED PRE-TAX FCF (US$m) 114.6 71.4 (38)
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Gold Fields | H1 2026 Results Note to Investors, Mineral Resources, Mineral Reserves, and Exploration Results For the Windfall long section and St Ives Mineral Reserve figures 35 01 02 03ABOUT THE DRILLING PROGRAMME CAUTIONARY STATEMENT COMPETENT PERSON CONSENT The results shown represent resource conversion and exploration growth drilling along the Main, Underdog, Lynx and Triple 8 corridors, targeting extensions to known mineralisation adjacent to the Masères Shear Zone and Windfall Fault. Intercepts are calculated using >20-gram metre (g*m) Au cut-off, inclusive of internal dilution. Widths shown are estimated true widths. Drillholes prefixed WST are current Gold Fields drilling. Drillholes prefixed OSK were drilled prior to Gold Fields’ acquisition of the project. These Exploration Results do not form part of, and do not modify, any Mineral Resource or Mineral Reserve at Windfall. The results are preliminary and subject to confirmation through additional drilling and sampling. No assurance can be given that they will lead to the definition of a Mineral Resource or Mineral Reserve. The scientific and technical information relating to Exploration Results shown in this presentation and the Mineral Reserve estimates for St Ives have been reviewed and approved by Alex Trueman, FAusIMM(CP), P.Geo., the Group Competent Person as defined by the SAMREC Code and S-K 1300. Drillhole intercept details Property Deposit Zone/Project Drillhole ID Hole type From (m) To (m) Width (m) ETW (m) Grade (g/t Au) Windfall Windfall Lynx 4 WST-25-2886 DD 1781.3 1792 10.7 4.2 39.2 WST-25-2886A DD 612.5 614.7 2.2 1.6 35.0 WST-25-2886A DD 1040.7 1041.7 1 0.5 NSI WST-25-2964B DD 1169.8 1179.1 9.3 3.9 39.2 WST-26-3123A DD 973 978 5 2.1 17.2 WST-26-3202A DD - - - - NSI WST-26-3213 DD 615.9 616.9 1 0.7 38.2 WST-26-3218A DD 910.5 911 0.5 0.1 NSI WST-26-3246 DD 888.9 891.7 2.8 1.2 69.8 WST-26-3271 DD 617.4 622.2 4.8 2.4 22.9 OSK-W-22-1109-W2 DD 1993 2005.3 12.3 7.9 30.7 OSK-W-20-2251-W1 DD 2111.2 2114 2.8 2.3 6.2 OSK-W-20-2251-W3 DD - - - - NSI OSK-W-19-2108-W2 DD 1736.9 1739.3 2.4 1.8 56.9 OSK-W-19-1992-W1 DD 1708.4 1714.3 5.9 4.2 14.3 Underdog OSK-W-19-2115 DD - - - - NSI Triple 8 OSK-W-19-1970 DD 2190.8 2198.8 8 5.1 10.1 OSK-W-18-1616-W1 DD 1985.1 1988.8 3.7 2.8 20.6 OSK-W-19-1783-W3 DD - - - - NSI OSK-W-18-1616-W2 DD 2074 2078 4 3.6 6.8 Notes: NSI: no significant intercept • ETW: estimated true width • DD: diamond drillhole