Gold Fields (GFI) Investor presentation summary

Global strategy and capital allocation

• Eight operating mines across five countries delivered 2.4 Moz attributable production in 2025; target is 3 Moz by 2031, with a growth pipeline extending into the 2040s.

• LTM Jun-26 attributable production was 2.6 Moz at AISC of US$1,749/oz; FY26 guidance is 2.4–2.6 Moz at US$1,800–2,000/oz.

• LTM Jun-26 adjusted free cash flow was US$4.2bn; H1 2026 adjusted free cash flow was US$2.2bn, up 134% YoY, with 61% paid to shareholders.

• Capital priorities are safe, reliable operations; investment-grade balance-sheet strength; a base dividend of 35% of free cash flow before discretionary growth investment; then surplus allocation.

• Additional returns programme capacity reached US$1.25bn; US$553m had been returned by August 2026, with the next review scheduled for February 2027.

Australian platform

• Four Australian mines contributed ~1.1 Moz, or 43% of group production, over LTM Jun-26; Australian reserves were 10.6 Moz at Dec-25.

• H1 2026 annualised adjusted pre-tax free cash flow from the four mines was US$2.3bn; value distributed in Australia in 2025 was US$2.3bn.

• More than 5,100 employees and contractors support the Australian operations; Perth hosts the global technical hub and senior leaders with global portfolio responsibilities.

• Australian five-year guidance targets 1.1–1.2 Moz annual production through FY28, with production growth thereafter; planned St Ives mill outage and ramp-up affect FY29 estimates.

• Australian reserves increased 0.5 Moz net of depletion in 2025, with a further 1.6 Moz added through consolidation of the remaining Gruyere interest.

St Ives and Granny Smith

• St Ives had 3.9 Moz of reserves at end-2025, up from 1.7 Moz in 2016; H1 2026 adjusted free cash flow was US$334.1m and AISC was US$2,283/oz.

• St Ives targets production above 400 koz pa and AISC of US$1,500/oz by 2030; planned Invincible materials handling is intended to lift underground production from 2.0 to 3.4 Mtpa.

• Granny Smith had 2.6 Moz of reserves at 6.5 g/t and 4.6 Moz of resources; H1 2026 adjusted free cash flow was US$409.7m and AISC was US$1,787/oz.

• Granny Smith targets >275 koz pa and AISC below US$1,300/oz over the next 15 years; Zone 150 reserves grade 8.6 g/t, with Zone 160 drilling and deeper development planned.

• Granny Smith’s 3.5 Mtpa mill has ~2 Mtpa latent capacity; higher-grade Zone 150 ore and nearby open-pit opportunities are being studied to add feed.