Chris Griffith: CEORecently commissioned solar plant at Gruyere in Australia 1 Gold Fields H1 2022 Results Chris Griffith: CEO 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 operations, business strategies, operating efficiencies, competitive position, growth opport ...

[Executive Summary](index=1&type=section&id=Executive%20Summary) [Statement by Chris Griffith, CEO](index=1&type=section&id=Statement%20by%20Chris%20Griffith%2C%20CEO) Gold Fields delivered strong H1 2022 operational performance with 9% production growth and 16% normalised earnings, declaring a 300 South African cents per share interim dividend - H1 2022 production increased **9% YoY**, with all-in costs rising only **6% YoY**, leading to a **16% YoY** increase in normalised earnings[1](index=1&type=chunk) - The proposed acquisition of Yamana Gold was a key focus, viewed as the best option to accelerate growth and deliver long-term shareholder value[2](index=2&type=chunk) H1 2022 Key Performance Highlights | Metric | H1 2022 | H1 2021 | YoY Change | |---|---|---|---| [Salient Features](index=1&type=section&id=Salient%20Features) Gold Fields reported **US$510 million** profit attributable to owners of the parent for H1 2022, a significant increase, and declared a **300 South African cents per share** interim dividend Profit and Dividend Highlights | Metric | H1 2022 | H1 2021 | YoY Change | |---|---|---|---| [H1 2022 Overview](index=2&type=section&id=H1%202022%20Overview) [Covid-19 Update](index=2&type=section&id=Covid-19%20Update) The Covid-19 pandemic's impact significantly abated in H1 2022 due to high vaccination rates and relaxed restrictions, with no employee fatalities and **US$12 million** in related spending - Impact of Covid-19 pandemic abated in H1 2022, especially in Q2, with **87% of the workforce fully vaccinated**[9](index=9&type=chunk) - No Covid-related employee fatalities in 2022, though a 4th wave in Chile impacted Salares Norte's program[9](index=9&type=chunk) Covid-19 Related Spending | Metric | H1 2022 (US$ million) | |---|---| [ESG Developments](index=2&type=section&id=ESG%20Developments) Gold Fields is progressing well towards its 2030 ESG targets, particularly decarbonization, with Cerro Corona achieving **100% renewable electricity** and new solar plants commissioning soon - Progressing well on 2030 ESG targets, especially decarbonizing operations[10](index=10&type=chunk) - Cerro Corona mine's electricity supply certified **100% renewable** in April[10](index=10&type=chunk) - R715 million, 50MW solar plant at South Deep set for Q3 2022 commissioning; US$20 million, 12MW solar - 4.4MW battery plant at Gruyere fully operational in August[10](index=10&type=chunk) [Regional Performance Highlights](index=2&type=section&id=Regional%20Performance%20Highlights) The Australian region delivered solid Q2 2022 performance, significantly contributing to H1 production, with Ghana, Cerro Corona, and South Deep also showing strong results H1 2022 Regional Production and Costs | Region | H1 2022 Production (thousand ounces) | AIC (US$ per ounce) | AISC (US$ per ounce) | |---|---|---|---| [Update on Salares Norte Project](index=2&type=section&id=Update%20on%20Salares%20Norte%20Project) The Salares Norte project reached **77.0% completion** by H1 2022, but severe weather and Covid-19 caused **1-3 month delays** to production, increasing project capex to **US$920 million-US$940 million** - Total project progress reached **77.0%** by H1 2022, with construction at **73.1%**[13](index=13&type=chunk) - Construction activities impacted by Covid-19 and severe weather, leading to an estimated **0-3 month delay** in production commencement[15](index=15&type=chunk) Salares Norte Project Key Updates | Metric | H1 2022 | Original Guidance | Revised Guidance | |---|---|---|---| [Proposed Acquisition of Yamana](index=2&type=section&id=Proposed%20Acquisition%20of%20Yamana) Gold Fields announced a definitive agreement to acquire Yamana Gold Inc. on May 31, 2022, in an all-share transaction valued at **US$6.7 billion**, with closing expected by mid-November 2022 - Gold Fields entered a definitive agreement to acquire Yamana Gold Inc. on May 31, 2022[18](index=18&type=chunk) - Transaction terms: **0.6 Gold Fields ordinary shares or ADSs** for each Yamana share[18](index=18&type=chunk) - Expected closing by mid-November 2022, subject to shareholder and regulatory approvals[19](index=19&type=chunk)[20](index=20&type=chunk) [FY 2022 Guidance Unchanged](index=2&type=section&id=FY%202022%20Guidance%20Unchanged) Gold Fields maintains its FY 2022 production and cost guidance despite higher mining inflation, projecting attributable gold equivalent production between **2.25Moz and 2.29Moz** and AISC between **US$1,140/oz and US$1,180/oz** - FY 2022 guidance remains unchanged due to solid H1 operational performance and offsetting factors for mining inflation[20](index=20&type=chunk) FY 2022 Production and Cost Guidance | Metric | 2022 Guidance (excluding Asanko) | 2021 Comparable | |---|---|---| 2022 Effective Mining Inflation Forecast | Region | February 2022 (%) | April 2022 (%) | July 2022 (%) | |---|---|---|---| [Key Statistics](index=4&type=section&id=Key%20Statistics) [Key Financial and Operational Metrics](index=4&type=section&id=Key%20Financial%20and%20Operational%20Metrics) Gold Fields reported significant improvements in H1 2022 key financial and operational metrics, including increased gold production, higher revenue, improved profitability, and a stronger balance sheet with decreased net debt Key Statistics (Six months ended) | Metric | June 2022 (Six months) | June 2021 (Six months) | YoY Change (%) | |---|---|---|---| [All-in Cost Reconciliation](index=4&type=section&id=All-in%20Cost%20Reconciliation) The total all-in cost for H1 2022 increased to **US$1,352/oz**, up from **US$1,274/oz** in H1 2021, primarily driven by higher costs at mining operations and the Salares Norte project All-in Cost Reconciliation (US$/oz) | Component | June 2022 (Six months, US$/oz) | June 2021 (Six months, US$/oz) | YoY Change (%) | |---|---|---|---| [Currencies and Metal Prices](index=4&type=section&id=Currencies%20and%20Metal%20Prices) Average exchange rates showed a weakening of the Rand and Australian Dollar against the US Dollar in H1 2022, while average gold and copper prices both increased Average Currencies and Metal Prices (Six months ended) | Metric | June 2022 (Six months) | June 2021 (Six months) | YoY Change (%) | |---|---|---|---| [Stock Data and Financial Information Disclosure](index=6&type=section&id=Stock%20Data%20and%20Financial%20Information%20Disclosure) [Stock Data for H1 2022](index=6&type=section&id=Stock%20Data%20for%20H1%202022) As of June 30, 2022, Gold Fields had **891,248,083 shares** in issue, with its stock trading between **US$9.11 - US$16.71** on NYSE and **ZAR142.93 - ZAR254.41** on JSE Stock Data (Six months ended 30 June 2022) | Metric | Value | |---|---| [Pro Forma Financial Information](index=6&type=section&id=Pro%20Forma%20Financial%20Information) This section clarifies the use of non-IFRS financial measures like normalised profit and net debt, presented for additional performance insights, which are the Board's responsibility and not audited - The media release includes non-IFRS financial measures to provide relevant information for assessing performance[31](index=31&type=chunk) - Key non-IFRS measures include normalised profit, net debt, adjusted free cash flow, and all-in sustaining/total all-in costs[31](index=31&type=chunk) - These pro forma financial measures have not been reported on by the Group's auditors[32](index=32&type=chunk) [Certain Forward-Looking Statements](index=8&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements regarding Gold Fields' future financial condition, operations, and strategies, which are estimates subject to inherent risks and uncertainties like commodity prices, currency fluctuations, and regulatory impacts - The report contains forward-looking statements regarding financial condition, operations, business strategies, and growth opportunities[35](index=35&type=chunk) - These statements are estimates reflecting management's best judgment and involve risks and uncertainties that could cause actual results to differ materially[35](index=35&type=chunk) - Important factors include changes in market prices of gold/copper/silver, currency fluctuations, government regulations, operational delays, and the success of the Salares Norte project[37](index=37&type=chunk) [Six months ended 30 June 2022 (H1 2022) compared with the six months ended 30 June 2021 (H1 2021)](index=10&type=section&id=H1%202022%20vs%20H1%202021%20Group%20Results) [Safety and Health](index=10&type=section&id=Safety%20and%20Health) Gold Fields reported no fatal injuries since April 2021, but recorded three serious injuries in H1 2022, with TRIFR regressing slightly to **2.36** due to high turnover - No fatal injuries since April 2021; **three serious injuries** recorded in H1 2022 (down from four in H1 2021)[39](index=39&type=chunk) Safety Performance | Metric | H1 2022 | H1 2021 | FY21 | |---|---|---|---| [Environmental Performance](index=10&type=section&id=Environmental%20Performance) The Group reported no Level 3-5 environmental incidents in H1 2022, with fresh water withdrawal decreasing by **6%** and water recycling at **75%**, while energy spend increased by **37%** to **US$206 million** - No Level 3-5 environmental incidents reported in H1 2022[41](index=41&type=chunk) Environmental Metrics | Metric | H1 2022 | H1 2021 | YoY Change (%) | |---|---|---|---| - Renewable energy accounted for **12%** of total electricity, with Cerro Corona certified **100% renewable**[44](index=44&type=chunk) [Social Performance](index=10&type=section&id=Social%20Performance) Gold Fields maintained **US$1.9 billion** value distribution to national economies in H1 2022, with host community workforce increasing to **53%** and SED spending rising to **US$9.2 million** - Value distribution to national economies remained at **US$1.9 billion** in H1 2022[47](index=47&type=chunk) Social Metrics | Metric | H1 2022 | H1 2021 | YoY Change (%) | |---|---|---|---| [COVID-19 Report (Detailed)](index=12&type=section&id=COVID-19%20Report%20(Detailed)) The impact of COVID-19 significantly diminished in H1 2022 due to high vaccination rates (**88% fully vaccinated**) and milder variants, with only one hospitalization and **US$12 million** spent on programs - COVID-19 impact abated in H1 2022, with **88% of the workforce fully vaccinated** by late July[52](index=52&type=chunk) - Only **one hospitalization** in H1 2022, compared to at least two employees hospitalized at any time in H1 2021[52](index=52&type=chunk) - Total spending on COVID-19 related programs and projects was **US$12 million** during H1 2022[53](index=53&type=chunk) [H1 Operating Performance](index=12&type=section&id=H1%20Operating%20Performance) Group attributable equivalent gold production increased by **9% to 1.2 million ounces** in H1 2022, driven by strong performances in South Africa, Australia, and South America, partially offset by a **4% decrease** in West Africa Group Gold Production (Attributable Equivalent) | Metric | H1 2022 (ounces) | H1 2021 (ounces) | YoY Change (%) | |---|---|---|---| - South Deep (South Africa) attributable gold production increased by **28% to 158,000 ounces**[55](index=55&type=chunk) - Australian operations' gold production increased by **10% to 527,400 ounces**, driven by higher grades and improved mill performance[58](index=58&type=chunk) - West African operations' attributable gold production decreased by **4% to 385,800 ounces**, mainly due to planned decreases at Damang and Asanko[56](index=56&type=chunk) - Cerro Corona (Peru) attributable equivalent gold production increased by **31% to 129,300 ounces** due to higher grades and recoveries[57](index=57&type=chunk) [Revenue](index=14&type=section&id=Revenue) Group revenue increased by **13% to US$2,235 million** in H1 2022, driven by a **10% increase** in gold equivalent ounces sold and a **3% higher** average US Dollar gold price Revenue and Gold Price | Metric | H1 2022 | H1 2021 | YoY Change (%) | |---|---|---|---| - Gold equivalent ounces sold (excluding Asanko) increased by **10% to 1.21 million ounces**[61](index=61&type=chunk) [Cost of Sales and Other Expenses](index=14&type=section&id=Cost%20of%20Sales%20and%20Other%20Expenses) Cost of sales before amortisation and depreciation increased by **11% to US$923 million** due to inflation, partially offset by weaker currencies, while a **US$23 million** gain on financial instruments positively impacted results Key Cost and Expense Items | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | YoY Change (%) | |---|---|---|---| - Cost of sales before amortisation and depreciation increased by **11%** due to inflationary increases of **US$130 million**, partially offset by **US$39 million** impact of weakening AUD and ZAR[62](index=62&type=chunk) Gain/(Loss) on Financial Instruments Breakdown | Hedge Type | H1 2022 Gain/(Loss) (US$ million) | H1 2021 Gain/(Loss) (US$ million) | |---|---|---| [Mining and Income Taxation](index=16&type=section&id=Mining%20and%20Income%20Taxation) The Group's taxation charge increased by **27% to US$274 million** in H1 2022, in line with higher profit before tax, with normal taxation rising **17%** and deferred tax increasing **104%** Mining and Income Taxation | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | YoY Change (%) | |---|---|---|---| [Profitability](index=16&type=section&id=Profitability) Profit for the period increased by **30% to US$534 million**, with net profit attributable to owners rising **32% to US$510 million** (US$0.57 per share) and headline earnings increasing **31%** Key Profitability Metrics | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | YoY Change (%) | |---|---|---|---| Normalised Profit Reconciliation | US$ million | June 2022 | June 2021 | |---|---|---| [Cash Flow](index=16&type=section&id=Cash%20Flow) Cash inflow from operating activities increased by **26% to US$871 million**, and adjusted free cash flow surged **63% to US$293 million**, despite higher capital expenditure increasing investing cash outflow by **18%** Cash Flow Summary | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | YoY Change (%) | |---|---|---|---| - Capital expenditure increased by **20% to US$545 million**, with sustaining capital up **30%** and non-sustaining capital up **6%**[82](index=82&type=chunk)[83](index=83&type=chunk)[85](index=85&type=chunk) - Environmental payments increased significantly by **420% to US$26 million**[92](index=92&type=chunk) [Statement of Financial Position](index=18&type=section&id=Statement%20of%20Financial%20Position) The balance sheet improved in H1 2022, with net debt decreasing by **12% to US$851 million** and the net debt to EBITDA ratio improving to **0.33x**, indicating stronger financial leverage Net Debt and Leverage | Metric | June 2022 (US$ million) | Dec 2021 (US$ million) | Change (US$ million) | |---|---|---|---| [Adjusted EBITDA](index=20&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA for the 12 months ended June 30, 2022, was **US$2,590 million**, an increase from **US$2,225 million**, used to evaluate compliance with debt covenants Adjusted EBITDA Calculation | US$ million | June 2022 | June 2021 | |---|---|---| - Adjusted EBITDA is defined as profit or loss for the year adjusted for interest, taxation, amortisation and depreciation, and certain other non-operating costs[102](index=102&type=chunk) [All-in Sustaining and Total All-in Cost](index=20&type=section&id=All-in%20Sustaining%20and%20Total%20All-in%20Cost) Group all-in sustaining costs (AISC) increased by **5% to US$1,148/oz** in H1 2022, while total all-in cost (AIC) rose **6% to US$1,352/oz**, driven by higher capital expenditure All-in Sustaining Costs (AISC) and Total All-in Cost (AIC) | Metric | H1 2022 (US$ per ounce) | H1 2021 (US$ per ounce) | YoY Change (%) | |---|---|---|---| - Normalizing for exchange rate differences, AISC would have increased by **9%** and AIC by **10%**[104](index=104&type=chunk)[106](index=106&type=chunk) [Review of Operations](index=22&type=section&id=Review%20of%20Operations) [South Africa Region](index=22&type=section&id=South%20Africa%20Region) South Deep continued strong H1 2022 performance, with gold production increasing by **28% to 163,900 ounces**, all-in cost rising **5%**, and capital expenditure surging **128% to R978 million (US$64 million)** South Deep H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production increased by **28% to 163,900 ounces**, in line with the production ramp-up to **12 tonnes gold output annually by 2025**[109](index=109&type=chunk) - Capital expenditure increased by **128% to R978 million (US$64 million)**, driven by the solar plant, mining fleet, and Doornpoort phase 2 construction[114](index=114&type=chunk)[115](index=115&type=chunk) - Adjusted free cash flow increased by **178% to R1,131 million (US$74 million)**[115](index=115&type=chunk) - FY 2022 guidance for South Deep remains unchanged[116](index=116&type=chunk) [West Africa Region](index=24&type=section&id=West%20Africa%20Region) Total gold production in the West Africa region decreased by **4% to 424 thousand ounces** in H1 2022, with all-in cost increasing by **10% to US$1,230/oz** and adjusted free cash flow decreasing by **15% to US$154 million** West Africa Region H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Total production decreased by **4% to 424 thousand ounces** due to planned decreases at Damang and Asanko[118](index=118&type=chunk) - Adjusted free cash flow (excluding Asanko) decreased by **15% to US$154 million**[118](index=118&type=chunk) [Tarkwa](index=24&type=section&id=Tarkwa) Tarkwa's gold production remained stable at **257,300 ounces** in H1 2022, but all-in cost increased by **9% to US$1,306/oz** due to higher costs and capital expenditure, which rose **12% to US$120 million** Tarkwa H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production marginally increased to **257,300 ounces**[119](index=119&type=chunk) - All-in cost increased by **9% to US$1,306/oz** due to higher royalty tax, mining costs, and capital expenditure[121](index=121&type=chunk) - FY 2022 guidance for Tarkwa revised due to inflationary pressures[123](index=123&type=chunk) [Damang](index=24&type=section&id=Damang) Damang's gold production decreased by **6% to 125,200 ounces** in H1 2022 due to lower yield, with all-in cost increasing by **19% to US$964/oz** and capital expenditure surging **225% to US$33 million** Damang H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production decreased by **6% to 125,200 ounces** due to lower yield from low-grade material[123](index=123&type=chunk)[125](index=125&type=chunk) - Capital expenditure increased by **225% to US$33 million**, mainly for Huni waste stripping[128](index=128&type=chunk) - FY 2022 guidance for Damang revised due to inflationary pressures and increased royalty[129](index=129&type=chunk) [Asanko (Equity-accounted Joint Venture)](index=26&type=section&id=Asanko%20(Equity-accounted%20Joint%20Venture)) Asanko's gold production decreased by **16% to 92,400 ounces** (100% basis) in H1 2022, with all-in cost increasing by **9% to US$1,576/oz** despite a **71% reduction** in capital expenditure to **US$6 million** Asanko H1 2022 Performance (100% basis) | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production decreased by **16% to 92,400 ounces** due to lower tonnes milled and yield, in line with planned ramp-down[129](index=129&type=chunk) - Total capital expenditure decreased by **71% to US$6 million**[131](index=131&type=chunk) - Full year gold production guidance revised upwards to **135 thousand ounces-145 thousand ounces**[132](index=132&type=chunk) [South America Region](index=28&type=section&id=South%20America%20Region) The South America region saw mixed results, with Cerro Corona significantly increasing gold and copper production, while Salares Norte experienced project delays due to weather and COVID-19 [Cerro Corona (Peru)](index=28&type=section&id=Cerro%20Corona%20(Peru)) Cerro Corona's gold production increased by **43% to 60,900 ounces** and copper production by **18% to 13,310 tonnes** in H1 2022, with all-in cost decreasing by **16%** and adjusted free cash flow doubling to **US$56 million** Cerro Corona H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production increased by **43%** and copper production by **18%**, leading to a **31% increase** in equivalent gold production[135](index=135&type=chunk) - Adjusted free cash flow doubled to **US$56 million**[137](index=137&type=chunk) - FY 2022 guidance for Cerro Corona revised due to inflationary increases[138](index=138&type=chunk)[141](index=141&type=chunk) [Salares Norte (Chile)](index=28&type=section&id=Salares%20Norte%20(Chile)) The Salares Norte project reached **77% total progress** by H1 2022, but Covid-19 and severe weather caused **1-3 month delays**, with H1 2022 expenditure at **US$172 million** and projected capex of **US$920 million-US$940 million** - Total project progress at **77%**, construction progress at **73.1%** by H1 2022[139](index=139&type=chunk) - Project timeline delayed by **1-3 months** due to Covid-19 and severe weather conditions[140](index=140&type=chunk) Salares Norte Project Expenditure | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| - Project capex could be in the range of **US$920 million-US$940 million**, higher than original guidance[145](index=145&type=chunk) [Australia Region](index=30&type=section&id=Australia%20Region) The Australian region delivered strong H1 2022 performance, with gold production increasing by **10% to 527 thousand ounces**, all-in cost rising **9% (A$) / 2% (US$)**, and adjusted free cash flow increasing **57% (A$) / 47% (US$) to US$235 million** Australia Region H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production increased by **10% to 527 thousand ounces**, with all Australian operations showing positive production variances[147](index=147&type=chunk) - Adjusted free cash flow increased by **57% (Australian Dollar) / 47% (US Dollar) to A$327 million (US$235 million)**[148](index=148&type=chunk) [St Ives](index=30&type=section&id=St%20Ives) St Ives' gold production marginally increased by **1% to 190,300 ounces** in H1 2022, with all-in cost increasing by **23% (A$)** due to pre-strip activities and inflation, and capital expenditure rising **24% to A$83 million (US$59 million)** St Ives H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production increased by **1% to 190,300 ounces**[149](index=149&type=chunk) - All-in cost increased by **23% (Australian Dollar)** due to high pre-strip activities and inflationary pressures[154](index=154&type=chunk) - FY 2022 guidance for St Ives updated due to higher production costs[157](index=157&type=chunk) [Agnew](index=32&type=section&id=Agnew) Agnew's gold production increased by **8% to 120,500 ounces** in H1 2022 due to higher grades, with all-in cost increasing by **11% (A$)** due to increased capital expenditure and inflationary pressures Agnew H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production increased by **8% to 120,500 ounces** due to increased grade of ore mined and processed[157](index=157&type=chunk) - All-in cost increased by **11% (Australian Dollar)** due to increased capital expenditure and inflationary pressures[157](index=157&type=chunk) - FY 2022 guidance for Agnew updated due to higher production costs and mining schedule delays[160](index=160&type=chunk) [Granny Smith](index=34&type=section&id=Granny%20Smith) Granny Smith's gold production increased by **14% to 138,300 ounces** in H1 2022 due to increased grades, with all-in cost marginally increasing by **1% (A$)** and adjusted pre-tax free cash flow more than doubling to **A$142 million (US$102 million)** Granny Smith H1 2022 Performance | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production increased by **14% to 138,300 ounces** due to increased grades of ore mined and processed[161](index=161&type=chunk) - Adjusted pre-tax free cash flow increased by **117% (Australian Dollar) / 102% (US Dollar) to A$142 million (US$102 million)**[166](index=166&type=chunk) - FY 2022 guidance for Granny Smith remains unchanged[167](index=167&type=chunk) [Gruyere](index=34&type=section&id=Gruyere) Gruyere's gold production increased by **31% to 156,800 ounces** (100% basis) in H1 2022 due to higher grades, with all-in cost decreasing by **18% (A$)** due to increased gold sold and lower capital expenditure Gruyere H1 2022 Performance (100% basis) | Metric | H1 2022 | H1 2021 | Variance (%) | |---|---|---|---| - Gold production increased by **31% to 156,800 ounces** due to increased grades and ore milled[167](index=167&type=chunk) - All-in cost decreased by **9% (Australian Dollar)** due to higher gold sold and decreased capital expenditure[173](index=173&type=chunk) - FY 2022 guidance for Gruyere updated due to higher production costs[175](index=175&type=chunk)[183](index=183&type=chunk) [Corporate](index=36&type=section&id=Corporate) Gold Fields published its 2021 Climate Change Report, detailing decarbonization targets, had its credit rating upgraded to **'BBB-'** by S&P, and declared an interim dividend of **300 South African cents per share** - Published 2021 Climate Change Report, outlining decarbonization targets: **30% reduction** in Scope 1 and 2 emissions by 2030, net-zero by 2050[175](index=175&type=chunk)[177](index=177&type=chunk) - S&P Global Ratings upgraded Gold Fields' credit rating to **'BBB-'** from 'BB+'[181](index=181&type=chunk) - Proposed acquisition of Yamana Gold aims to create a top-4 global gold major, strengthening portfolio, financial capacity, and ESG commitment[185](index=185&type=chunk)[187](index=187&type=chunk)[192](index=192&type=chunk) Interim Dividend Declared | Metric | Value | |---|---| [Outlook for 2022](index=40&type=section&id=Outlook%20for%202022) Gold Fields remains on track to achieve its FY 2022 production and cost guidance, projecting attributable gold equivalent production between **2.25Moz and 2.29Moz** and AISC between **US$1,140/oz and US$1,180/oz**, with total capital expenditure between **US$1.050 billion and US$1.150 billion** - On track to achieve Group production guidance for 2022, with cost guidance unchanged despite higher mining inflation[194](index=194&type=chunk) FY 2022 Production and Cost Guidance | Metric | 2022 Guidance (excluding Asanko) | |---|---| FY 2022 Capital Expenditure Guidance | Capital Expenditure Type | 2022 Guidance (US$ billion) | |---|---| [Financial Statements](index=42&type=section&id=Financial%20Statements) [Basis of Preparation and Auditor's Review](index=42&type=section&id=Basis%20of%20Preparation%20and%20Auditor's%20Review) The condensed consolidated interim financial statements for H1 2022 were prepared in accordance with IFRS (IAS 34) and South African regulations, and reviewed by PricewaterhouseCoopers Inc. who concluded they are materially prepared according to the framework - Financial statements prepared in accordance with IFRS (IAS 34) and South African regulations, presented in US Dollars on a going concern basis[199](index=199&type=chunk)[200](index=200&type=chunk) - PricewaterhouseCoopers Inc. reviewed the statements and concluded they are prepared in all material respects in accordance with the applicable financial reporting framework[202](index=202&type=chunk)[203](index=203&type=chunk) [Class Action Settlement](index=42&type=section&id=Class%20Action%20Settlement) Gold Fields has provided **US$13.0 million** for its share of the silicosis and TB class action settlement, though the ultimate outcome remains uncertain and the provision is subject to adjustment - Gold Fields has provided **US$13.0 million** for its share of the silicosis and TB class action settlement[204](index=204&type=chunk) - The ultimate outcome remains uncertain, and the provision is subject to adjustment[204](index=204&type=chunk) [Segment Reporting](index=42&type=section&id=Segment%20Reporting) The net profit for H1 2022, excluding Asanko, reconciles to operating segments and corporate/projects, with operating segments contributing **US$583.3 million** and corporate/projects having a **US$49.7 million** loss Net Profit by Segment (excluding Asanko) | Segment | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| [Income Statement](index=44&type=section&id=Income%20Statement) The consolidated income statement shows a **13% increase** in revenue to **US$2,235.3 million** and a **30% increase** in profit for the period to **US$533.6 million** in H1 2022, driven by higher gold sales and prices Condensed Consolidated Income Statement Highlights | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| [Statement of Comprehensive Income](index=46&type=section&id=Statement%20of%20Comprehensive%20Income) Total comprehensive income for H1 2022 was **US$440.2 million**, a slight decrease from **US$446.8 million** in H1 2021, influenced by a negative foreign currency translation adjustment of **US$78.7 million** Condensed Consolidated Statement of Comprehensive Income Highlights | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| [Statement of Financial Position](index=48&type=section&id=Statement%20of%20Financial%20Position) As of June 30, 2022, total assets increased to **US$7,547.9 million**, total equity increased to **US$4,406.6 million**, and net debt decreased to **US$851.3 million**, reflecting an improved financial position Condensed Consolidated Statement of Financial Position Highlights | Metric | June 2022 (US$ million) | June 2021 (US$ million) | |---|---|---| [Statement of Changes in Equity](index=50&type=section&id=Statement%20of%20Changes%20in%20Equity) Total equity increased to **US$4,406.6 million** at June 30, 2022, from **US$4,130.1 million** at December 31, 2021, primarily driven by profit for the period, partially offset by dividends Condensed Consolidated Statement of Changes in Equity (H1 2022) | US$ million | Balance at 31 December 2021 | Total comprehensive income | Dividends declared | Share-based payments | Balance at 30 June 2022 | |---|---|---|---|---|---| [Statement of Cash Flows](index=52&type=section&id=Statement%20of%20Cash%20Flows) Cash flows from operating activities increased by **26% to US$871.0 million** in H1 2022, while cash outflow from investing activities increased by **18% to US$551.6 million**, resulting in **US$220.2 million** net cash generated Condensed Consolidated Statement of Cash Flows Highlights | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| [Notes to the Condensed Consolidated Financial Statements](index=54&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) [Revenue and Cost of Sales](index=54&type=section&id=Revenue%20and%20Cost%20of%20Sales) Revenue from contracts with customers, primarily gold and copper sales, increased to **US$2,235.3 million** in H1 2022, while cost of sales before amortisation and depreciation increased to **US$922.6 million** Revenue Breakdown | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| Cost of Sales Breakdown | Cost Component | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| [Investment Income and Finance Expense](index=54&type=section&id=Investment%20Income%20and%20Finance%20Expense) Investment income remained stable at **US$3.5 million** in H1 2022, while finance expense increased to **US$38.2 million**, primarily due to lease and rehabilitation interest Investment Income | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| Finance Expense Breakdown | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| [Equity-Accounted Investees and Financial Instruments](index=56&type=section&id=Equity-Accounted%20Investees%20and%20Financial%20Instruments) Share of results from equity-accounted investees shifted from a **US$16.5 million** income to a **US$5.1 million** loss in H1 2022, while the Group recorded a significant **US$23.4 million** gain on financial instruments, reversing a **US$53.1 million** loss Share of Results of Equity-Accounted Investees | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| Gain/(Loss) on Financial Instruments | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| - The Group's policy is to remain unhedged to the gold price, but hedges are undertaken for specific purposes like protecting cash flows or debt servicing[228](index=228&type=chunk)[234](index=234&type=chunk) - Outstanding hedges at June 30, 2022, include Australia oil, Ghana oil, and Salares Norte currency hedges[235](index=235&type=chunk) [Share-Based Payments and Long-Term Incentive Plan](index=58&type=section&id=Share-Based%20Payments%20and%20Long-Term%20Incentive%20Plan) Share-based payment expense decreased by **33% to US$4.1 million** in H1 2022 due to lower forecast vesting percentages, with long-term incentive plan expense stable at **US$11.4 million** Share-Based Payments and Long-Term Incentive Plan | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| [Exploration Expenses and Royalties](index=58&type=section&id=Exploration%20Expenses%20and%20Royalties) Total exploration expense remained flat at **US$32.8 million** in H1 2022, with **US$15.2 million** spent at Salares Norte, and government royalties increased by **9% to US$58.6 million** Exploration Expenses | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| Royalties | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| - Royalty rates vary by region: South Africa (**0.5%**), Australia (**2.5%**), Ghana (sliding scale **3.0%-5.0%**), Peru (sliding scale **1%-12%**)[237](index=237&type=chunk) [Mining and Income Taxation (Detailed)](index=60&type=section&id=Mining%20and%20Income%20Taxation%20(Detailed)) The total mining and income taxation charge increased to **US$273.5 million** in H1 2022, including **US$224.2 million** in normal taxation and **US$49.3 million** in deferred taxation Mining and Income Tax Components | Component | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| - South African mining tax is determined by a formula based on profit and revenue, with a maximum royalty of **5%** on refined minerals[239](index=239&type=chunk) - International operations have varying current tax rates: Australia (**30.0%**), Ghana (**32.5%**), Peru (**29.5%**)[239](index=239&type=chunk) [Earnings Per Share](index=62&type=section&id=Earnings%20Per%20Share) Basic earnings per share increased to **57 cents** (H1 2022) from **44 cents** (H1 2021), diluted EPS rose to **56 cents**, and headline earnings per share increased to **58 cents**, reflecting improved profitability Earnings Per Share Summary | Metric | H1 2022 (cents) | H1 2021 (cents) | |---|---|---| - Basic EPS is calculated by dividing profit attributable to owners of the parent (**US$509.7 million**) by the weighted average number of ordinary shares (**890,640,752**)[243](index=243&type=chunk) - Headline earnings reconciliation adjusts profit for non-recurring items like profit on disposal of assets and impairment of investments[243](index=243&type=chunk) [Impairment of Investments and Assets](index=62&type=section&id=Impairment%20of%20Investments%20and%20Assets) Impairment of investments and assets totaled **US$9.3 million** in H1 2022, primarily due to a **US$5.7 million** impairment of Far Southeast Gold Resources Incorporated (FSE) and **US$3.6 million** for property, plant, and equipment Impairment of Investments and Assets | Metric | H1 2022 (US$ million) | H1 2021 (US$ million) | |---|---|---| - FSE impairment was based on fair value less cost of disposal, indirectly derived from the market value of Lepanto Consolidated Mining Company[243](index=243&type=chunk) [Debt Maturity Ladder](index=64&type=section&id=Debt%20Maturity%20Ladder) Gold Fields' total uncommitted and committed loan facilities amount to **US$2,977.3 million**, with significant maturities in 2023 and 2024, and **US$1,175.3 million** utilized as of June 30, 2022 Debt Maturity Ladder (US$m) | Year | Uncommitted Loan Facilities (US$ million) | Committed Loan Facilities (US$ million) | Total Facilities (US$ million) | Utilisation (US$ million) | |---|---|---|---|---| [Fair Value Hierarchy](index=66&type=section&id=Fair%20Value%20Hierarchy) The Group classifies its financial assets and liabilities into a fair value hierarchy (Level 1, 2, or 3), with environmental trust funds and derivative contracts primarily Level 2, and listed investments Level 1 - The Group uses a three-level fair value hierarchy for financial assets and liabilities[248](index=248&type=chunk) Fair Value Hierarchy at 30 June 2022 | Asset/Liability | Total (US$ million) | Level 1 (US$ million) | Level 2 (US$ million) | Level 3 (US$ million) | |---|---|---|---|---| - Valuation methods include quoted market prices (Level 1), forward LME prices (Level 2), and discounted cash flow methods (Level 3)[250](index=250&type=chunk)[251](index=251&type=chunk)[252](index=252&type=chunk)[253](index=253&type=chunk)[254](index=254&type=chunk] [Capital Commitments](index=68&type=section&id=Capital%20Commitments) Contracted capital expenditure commitments totaled **US$183.3 million** as of June 30, 2022, with **US$114.0 million** allocated to the Salares Norte project Capital Commitments | Metric | June 2022 (US$ million) | June 2021 (US$ million) | |---|---|---| - Contracted capital expenditure includes **US$114.0 million** for Salares Norte[257](index=257&type=chunk) [Segmental Operating and Financial Results](index=70&type=section&id=Segmental%20Operating%20and%20Financial%20Results) This section provides detailed operating and financial results by region and mine for H1 2022, covering metrics like gold production, cost of sales, and capital expenditure, highlighting regional contributions and performance variances - Detailed operating results are provided for each region and mine, including ore milled/treated, yield, and gold production[260](index=260&type=chunk)[262](index=262&type=chunk)[263](index=263&type=chunk)[264](index=264&type=chunk)[266](index=266&type=chunk)[268](index=268&type=chunk)[269](index=269&type=chunk) - Financial results are presented for each segment, covering revenue, cost of sales, royalties, taxation, net profit, and capital expenditure[260](index=260&type=chunk)[262](index=262&type=chunk)[263](index=263&type=chunk)[264](index=264&type=chunk)[266](index=266&type=chunk)[268](index=268&type=chunk)[269](index=269&type=chunk) - Comparative figures for June 2021 and December 2021 are included, with H1 2022 figures being reviewed and prior periods unreviewed[263](index=263&type=chunk)[268](index=268&type=chunk) [All-in Cost Benchmarks](index=78&type=section&id=All-in%20Cost%20Benchmarks) This section presents detailed all-in cost (AIC) and all-in sustaining cost (AISC) benchmarks, both net and gross of by-product credits, across all operations and regions, providing a comprehensive breakdown of cost components - Detailed breakdown of All-in Sustaining Costs (AISC) and Total All-in Cost (AIC) components for each region and mine[271](index=271&type=chunk)[273](index=273&type=chunk)[274](index=274&type=chunk)[277](index=277&type=chunk)[279](index=279&type=chunk)[280](index=280&type=chunk)[282](index=282&type=chunk)[283](index=283&type=chunk)[285](index=285&type=chunk)[286](index=286&type=chunk) - Includes reconciliation of costs before gold inventory change, royalties, realised gains/losses on commodity hedges, and various operational and capital expenditures[271](index=271&type=chunk)[273](index=273&type=chunk)[274](index=274&type=chunk)[277](index=277&type=chunk)[279](index=279&type=chunk)[280](index=280&type=chunk)[282](index=282&type=chunk)[283](index=283&type=chunk)[285](index=285&type=chunk)[286](index=286&type=chunk) - AISC and AIC are also presented gross of by-product credits per equivalent ounce of gold sold, providing a different perspective on cost efficiency[282](index=282&type=chunk)[285](index=285&type=chunk) [Underground and Surface Operations Data](index=90&type=section&id=Underground%20and%20Surface%20Operations%20Data) This section provides detailed operational data for underground and surface mining activities across all regions, including tonnes mined, grade mined, gold mined, and tonnes milled, for H1 2022, H2 2021, and H1 2021 - Detailed breakdown of tonnes mined, grade mined, and gold mined for underground and surface operations by region[288](index=288&type=chunk)[291](index=291&type=chunk)[292](index=292&type=chunk) - Includes data on ore milled/treated and yield for both underground and surface operations[288](index=288&type=chunk)[291](index=291&type=chunk)[292](index=292&type=chunk) - Data is provided for H1 2022, H2 2021, and H1 2021 for comparative analysis[288](index=288&type=chunk)[291](index=291&type=chunk)[292](index=292&type=chunk) [Review of Operations - Quarter ended 30 June 2022 compared with quarter ended 31 March 2022](index=94&type=section&id=Quarterly%20Review%20of%20Operations) [South Africa Region](index=94&type=section&id=South%20Africa%20Region%20(Quarterly)) South Deep's gold production increased by **10% to 85,900 ounces** in Q2 2022, with all-in cost stable, and total capital expenditure increasing by **23% to R540 million (US$35 million)**, including significant solar plant spending South Deep Q2 2022 Performance | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production increased by **10% to 85,900 ounces** due to higher underground ore mined[294](index=294&type=chunk) - Total capital expenditure increased by **23% to R540 million (US$35 million)**, including significant spend on the solar plant[297](index=297&type=chunk) - Solar project capacity increased to **60MW**, with **50MW** planned for Q3 2022 commissioning, despite construction delays[298](index=298&type=chunk) [West Africa Region](index=94&type=section&id=West%20Africa%20Region%20(Quarterly)) The West Africa region showed mixed quarterly performance, with Tarkwa's gold production stable but costs increasing, Damang seeing slight production increase with lower costs, and Asanko's production increasing with decreased all-in costs [Tarkwa](index=94&type=section&id=Tarkwa%20(Quarterly)) Tarkwa's gold production remained stable at **128,800 ounces** in Q2 2022, with all-in cost increasing by **6% to US$1,342/oz** due to higher mining costs and capital expenditure, which rose **10% to US$63 million** Tarkwa Q2 2022 Performance | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production marginally increased to **128,800 ounces**[302](index=302&type=chunk) - All-in cost increased by **6% to US$1,342/oz** due to higher mining costs and capital expenditure[302](index=302&type=chunk) [Damang](index=96&type=section&id=Damang%20(Quarterly)) Damang's gold production increased by **2% to 63,200 ounces** in Q2 2022 due to higher yield, with all-in cost decreasing by **1% to US$961/oz** and total capital expenditure increasing by **44% to US$20 million** Damang Q2 2022 Performance | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production increased by **2% to 63,200 ounces** due to higher yield and throughput[303](index=303&type=chunk) - Total capital expenditure increased by **44% to US$20 million**, mainly for Huni waste stripping[306](index=306&type=chunk) [Asanko (Equity-accounted Joint Venture)](index=96&type=section&id=Asanko%20(Equity-accounted%20Joint%20Venture)%20(Quarterly)) Asanko's gold production increased by **18% to 50,000 ounces** (100% basis) in Q2 2022 due to higher yield, with all-in cost decreasing by **7% to US$1,519/oz** and total capital expenditure increasing by **40% to US$4 million** Asanko Q2 2022 Performance (100% basis) | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production increased by **18% to 50,000 ounces** due to higher yield from Akwasiso[307](index=307&type=chunk) - All-in cost decreased by **7% to US$1,519/oz**[308](index=308&type=chunk) [South America Region](index=98&type=section&id=South%20America%20Region%20(Quarterly)) Cerro Corona's gold equivalent production increased by **32%** in Q2 2022 due to higher grades, while Salares Norte project progressed to **77% total completion**, but construction productivity was impacted by severe weather [Cerro Corona](index=98&type=section&id=Cerro%20Corona%20(Quarterly)) Cerro Corona's gold equivalent production increased by **32% to 73,900 ounces** in Q2 2022 due to higher grades, with all-in cost decreasing by **5%** and total capital expenditure increasing by **122% to US$11 million** Cerro Corona Q2 2022 Performance | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold equivalent production increased by **32% to 73,900 ounces** due to higher gold and copper grades[311](index=311&type=chunk) - Total capital expenditure increased by **122% to US$11 million**, mainly for tailings dam construction[314](index=314&type=chunk) [Salares Norte](index=98&type=section&id=Salares%20Norte%20(Quarterly)) The Salares Norte project reached **77% total progress** by Q2 2022, with **US$94.2 million** spent, though construction productivity was impacted by difficult weather conditions - Total project progress at **77%** by end of Q2 2022[315](index=315&type=chunk) - **US$94.2 million** was spent on the project during Q2 2022[316](index=316&type=chunk) - Construction productivity in Q2 was impacted by difficult weather conditions[315](index=315&type=chunk) [Australia Region](index=100&type=section&id=Australia%20Region%20(Quarterly)) The Australian region showed varied quarterly performance, with St Ives and Granny Smith seeing increased gold production, Agnew's production decreasing, and all mines experiencing inflationary pressures [St Ives](index=100&type=section&id=St%20Ives%20(Quarterly)) St Ives' gold production increased by **3% to 96,400 ounces** in Q2 2022 due to higher average grade, with all-in cost similar at **A$1,712/oz (US$1,222/oz)**, and total capital expenditure increasing by **12%** St Ives Q2 2022 Performance | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production increased by **3% to 96,400 ounces** due to higher average grade of ore milled[319](index=319&type=chunk) - Total capital expenditure increased by **12% to A$44 million (US$31 million)**[322](index=322&type=chunk) [Agnew](index=100&type=section&id=Agnew%20(Quarterly)) Agnew's gold production decreased by **9% to 57,400 ounces** in Q2 2022 due to lower grade, with all-in cost increasing by **13% (A$)** due to increased capital expenditure and decreased gold sold Agnew Q2 2022 Performance | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production decreased by **9% to 57,400 ounces** due to lower grade of ore mined and processed[322](index=322&type=chunk) - All-in cost increased by **13% (Australian Dollar)** due to increased capital expenditure and decreased gold sold[323](index=323&type=chunk) [Granny Smith](index=102&type=section&id=Granny%20Smith%20(Quarterly)) Granny Smith's gold production increased by **10% to 72,400 ounces** in Q2 2022 due to increased grade, with all-in cost decreasing by **10% (A$)** due to increased gold sold, and total capital expenditure increasing by **3%** Granny Smith Q2 2022 Performance | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production increased by **10% to 72,400 ounces** due to increased grade of ore mined and processed[326](index=326&type=chunk) - All-in cost decreased by **10% (Australian Dollar)** due to increased gold sold[326](index=326&type=chunk) [Gruyere](index=102&type=section&id=Gruyere%20(Quarterly)) Gruyere's gold production increased by **21% to 85,700 ounces** (100% basis) in Q2 2022 due to higher grades, with all-in cost decreasing by **18% (A$)** due to increased gold sold and lower capital expenditure Gruyere Q2 2022 Performance (100% basis) | Metric | June 2022 Quarter | March 2022 Quarter | Variance (%) | |---|---|---|---| - Gold production increased by **21% to 85,700 ounces** due to higher grades and increased tonnes milled[328](index=328&type=chunk) - All-in cost decreased by **18% (Australian Dollar)** due to increased gold sold and lower capital expenditure[329](index=329&type=chunk) [Salient Features and Cost Benchmarks](index=104&type=section&id=Salient%20Features%20and%20Cost%20Benchmarks%20(Quarterly)) This section provides a quarterly comparison of key operational metrics and cost benchmarks across all regions, detailing ore milled, gold produced, gold sold, cost of sales, and capital expenditures - Quarterly comparison of ore milled/treated, yield, gold produced, and gold sold across all regions[333](index=333&type=chunk)[336](index=336&type=chunk) - Detailed quarterly breakdown of cost of sales, sustaining and non-sustaining capital, and all-in sustaining costs (AISC) and total all-in costs (AIC)[333](index=333&type=chunk)[336](index=336&type=chunk) - Includes average exchange rates for the respective quarters for currency conversion context[333](index=333&type=chunk)[336](index=336&type=chunk) [Independent Auditor's Review Report](index=112&type=section&id=Independent%20Auditor's%20Review%20Report) PricewaterhouseCoopers Inc. reviewed Gold Fields Limited's condensed consolidated interim financial statements for H1 2022, concluding they were prepared in all material respects according to IFRS (IAS 34) and the Companies Act - PricewaterhouseCoopers Inc. reviewed the condensed consolidated interim financial statements for H1 2022[344](index=344&type=chunk) - The review concluded that the statements are prepared in all material respects in accordance with IFRS (IAS 34) and the Companies Act of South Africa[347](index=347&type=chunk) - The auditor's report does not cover future financial performance, non-IFRS measures, or other non-financial information[348](index=348&type=chunk) [Administration and Corporate Information](index=114&type=section&id=Administration%20and%20Corporate%20Information) This section provides essential administrative and corporate contact details for Gold Fields Limited, including registered office, UK secretaries, ADR transfer agent, investor/media enquiries, and stock exchange listings - Provides contact information for corporate secretary, registered office, UK secretaries, and American depository receipts transfer agent[352](index=352&type=chunk)[353](index=353&type=chunk) - Includes contact details for investor and media enquiries, and transfer secretaries in South Africa and the UK[354](index=354&type=chunk)[355](index=355&type=chunk) - Lists company website (www.goldfields.com) and stock exchange listings (JSE / NYSE / GFI)[355](index=355&type=chunk)[356](index=356&type=chunk] [Certain Forward-Looking Statements](index=116&type=section&id=Certain%20Forward-Looking%20Statements%20(Repeat)) This section reiterates the forward-looking statements disclaimer, emphasizing that the report contains estimates subject to various risks and uncertainties, including changes in market prices, currency fluctuations, and regulatory impacts - The report contains forward-looking statements that are estimates reflecting management's best judgment[359](index=359&type=chunk) - These statements involve risks and uncertainties that could cause actual results to differ materially, including changes in commodity prices, currency values, and regulatory environments[359](index=359&type=chunk)[361](index=361&type=chunk) - Gold Fields undertakes no obligation to update or revise these forward-looking statements[360](index=360&type=chunk)

As filed with the Securities and Exchange Commission on 31 March 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ Form 20-F _______________________ (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURIT ...

Gold Fields FY 2021 Results Chris Griffith: CEO Sunrise at South Deep Mine in South Africa 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 among others those relating to environmental, social and governance (ESG)-related initiatives and metrics including Scope ...

Gold Fields Ltd (NYSE:GFI) Q4 2021 Earnings Conference Call February 17, 2022 8:00 AM ET Company Participants Christopher Griffith - CEO & Executive Director Paul Schmidt - Financial Director, CFO & Executive Director Avishkar Nagaser - EVP, IR & Corporate Affairs Conference Call Participants Adrian Hammond - SBG Securities Patrick Mann - Bank of America Merrill Lynch Leroy Mnguni - HSBC Scott Macdonald - Scotiabank Christopher Griffith Good day, ladies and gentlemen. Welcome to Gold Fields' 2021 financial ...

Gold Fields Limited (NYSE:GFI) Q2 2021 Earnings Conference Call August 19, 2021 9:00 AM ET Company Participants Chris Griffith - CEO Paul Schmidt - CFO Avishkar Nagaser - Head, IR Conference Call Participants Leroy Mnguni - HSBC Arnold Van Graan - Nedbank Raj Ray - BMO Capital Markets Tanya Jakusconek - Scotiabank Chris Griffith Hi, good morning, good afternoon and good evening to Gold Fields Interim Results Presentation for 2021. I'm going to be taking you through just first in the - just the agenda for to ...

Mineral Reserves and Resources - Gold Fields reported attributable gold-equivalent Mineral Reserves of 52.1 million ounces (Moz) as of December 31, 2020, an increase from 51.3 Moz in 2019[11] - The company has gold-equivalent Mineral Resources totaling 116.0 Moz, up from 115.7 Moz in the previous year[11] Production - Gold Fields achieved total attributable annual gold-equivalent production of 2.24 Moz[13] Financial Statements and Audit - The Integrated Annual Report 2020 includes audited consolidated financial statements for the year ended December 31, 2020, with no modifications to previously published results[5] - PwC Inc. audited the financial statements and raised a key audit matter regarding the impairment assessment of the South Deep cash-generating unit[6] Leadership and Strategic Changes - The company is undergoing a strategic transformation with a new CEO, Chris Griffith, taking over from Nick Holland effective April 1, 2021[7] Upcoming Events and Reports - The Annual General Meeting (AGM) is scheduled for May 6, 2021, to be held entirely by electronic communications[12] - The company plans to publish additional reports, including the Global Reporting Initiative (GRI) Content Index 2020 and the Climate Change Report, in April 2021[11] - The company will distribute the statutory Annual Financial Report 2020 and related documents to shareholders shortly[4] Operations - Gold Fields operates nine mines and one project across Australia, Chile, Ghana, Peru, and South Africa[13]

Table of Contents As filed with the Securities and Exchange Commission on 31 March 2021 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Gold Fields Limited (Exact name of registrant as specified in its charter) Republic of South Africa (Jurisdiction of incorporation or organisation) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Financial Data and Key Metrics Changes - Gold Fields reported a production increase of 2% year-over-year, reaching 2.236 million ounces despite COVID-19 disruptions [8] - Mine cash flow was $868 million, with normalized earnings rising to $879 million, reflecting a 2.5x increase from the previous year [9] - The company declared a total dividend of ZAR 4.80 per share, representing a payout ratio of approximately 30% of normalized earnings, consistent with its policy [10][11] - Net debt decreased significantly from $1.33 billion in 2019 to $640 million at the end of 2020, indicating effective debt management [13][14] Business Line Data and Key Metrics Changes - Australia produced over 1 million ounces, benefiting from a full year of Gruyere production, with all-in costs at $957 per ounce and cash flow of $498 million [20][21] - West Africa contributed just under 800,000 ounces with all-in costs of about $1,060, generating over $250 million in cash flow, bolstered by strong performance at Damang [22] - The Americas, particularly Cerro Corona, faced challenges with production dropping to 206,000 ounces due to COVID-19, resulting in a loss of approximately 46,000 ounces [23][25] - South Deep in South Africa also experienced a production loss of around 32,000 ounces due to COVID, but still managed a cash flow of $34 million [25][26] Market Data and Key Metrics Changes - The company highlighted the impact of COVID-19 on operations, with only two sites experiencing significant production interruptions, leading to an estimated loss of 80,000 ounces [5][6] - Active COVID-19 cases among employees were around 170, with a focus on mental health support for affected workers [16][18] Company Strategy and Development Direction - Gold Fields is focused on advancing the Salares Norte project, with construction tracking ahead of schedule and expected to be a significant contributor to future production [12][31] - The company aims to maintain a production range of 2 million to 2.5 million ounces annually over the next decade, with Salares projected to produce around 450,000 ounces at low costs [30] - The strategy includes organic growth through brownfields exploration and avoiding expensive M&A, emphasizing the importance of existing assets [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the ongoing challenges posed by COVID-19, emphasizing a commitment to employee safety and business sustainability [19][67] - The guidance for 2021 anticipates production of 2.3 million to 2.35 million ounces, with all-in sustaining costs slightly higher due to various operational factors [66] - The company is optimistic about increasing production at South Deep by 20% to 30% over the next 4 to 5 years, contingent on technological advancements and improved mining practices [74][75] Other Important Information - The company has made significant investments in ESG initiatives, including reducing carbon emissions and enhancing safety measures [39][44] - Gold Fields has increased its attributable reserves to 52.1 million ounces, reflecting successful exploration and resource management [56] Q&A Session Summary Question: Emphasis on reducing pollution through clean technologies and renewable energy - Management highlighted ongoing renewable energy projects at Agnew and Granny Smith, with plans for a solar project at South Deep to reduce carbon emissions [70][71] Question: Maximum steady-state production at restructured South Deep - Management indicated a potential increase of 20% to 30% over the 2021 guidance of 290,000 ounces, with no cap on future production potential [74][75] Question: Expected COVID-related operational costs in 2021 - Management suggested that many COVID-related costs in 2020 were one-off expenses and do not expect similar costs unless there are significant mandated shutdowns [77][78] Question: Movement in reserves and areas of decline - Management acknowledged a slight overall increase in reserves, with declines noted at Damang and Cerro Corona due to depletion and modeling changes [80][82] Question: Concerns regarding COVID-19 impacts on Salares Norte project - Management expressed confidence in logistics and risk mitigation strategies for the Salares Norte project, while acknowledging potential impacts from COVID-19 [84][87]

Gold Fields – Denver Gold Forum September 2020 Nick Holland: CEO Forward looking statement 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 among others those relating to the Damang Exploration Target Statement; the Far Southeast Exploration Target Statement; commodity prices; demand for ...