Gold Fields Limited
Reg. No. 1968/004880/06)
Incorporated in the Republic of South Africa)
JSE, NYSE, DIFX Share Code: GFI
ISIN Code:ZAE000018123
(“Gold Fields” or the “Company”)

TRADING STATEMENT AND OPERATIONAL PERFORMANCE FOR THE TWELVE MONTHS
ENDED 31 DECEMBER 2023 (FY 2023)

Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to advise
that it has delivered in line with its cost guidance while production
volumes for 2023 were 99.7% of guidance for the year.

FY 2023 operational performance

Attributable gold equivalent production for FY 2023 is expected to be
2,304koz, a 4% decrease YoY (FY 2022: 2,399koz) while attributable gold
equivalent production excluding Asanko for FY 2023 is expected to be
2,244koz, a 3% decrease YoY (FY 2022: 2,322koz), marginally missing the
guidance range of 2,250koz – 2,300koz.

All-in costs (AIC) for FY 2023 are expected to be US$1,512/oz, 15% higher
than FY 2022 (US$1,320/oz), and within the guided range of US$1,480/oz –
US$1,520/oz. The YoY increase is mainly due to lower gold sold, higher
sustaining capital expenditure and cost of sales before amortisation and
depreciation which were partially offset by lower non-sustaining capital
expenditure and weaker exchange rates.

If the AIC of US$1,512/oz is adjusted for the following items not included
in the original guidance:
   − Asanko;
   − Windfall;
   − normalising royalties to the guidance gold price;
   − adjusting to the guidance exchange rates (R/US$17.00 and
      US$/A$0.70); and
   − the net realisable value (NRV) adjustment to stockpiles at Damang,
then the revised AIC is US$1,516/oz which is within the guided range.

All-in sustaining costs (AISC) for FY 2023 is expected to be US$1,295/oz,
17% higher than FY 2022 (US$1,105/oz), which is below the lower end of
the guided range of US$1,300/oz – US$1,340/oz.

If the AISC of US$1,295/oz is adjusted for the following items not
included in the original guidance:
   − Asanko,
   − normalising royalties to the guidance gold price,
   − adjusting to the guidance exchange rates (R/US$17.00 and
      US$/A$0.70); and
   − the NRV adjustment to stockpiles at Damang,
then the revised AISC is US$1,317/oz which is within the guidance range.
Q4 2023 operational performance

For Q4 2023, attributable gold equivalent production is expected to be
608koz (Q3 2023: 542koz), with AIC for the quarter expected to be
US$1,632/oz (Q3 2023: US$1,622/oz). AISC is expected to be US$1,372/oz
(Q3 2023: US$1,381/oz).

Trading statement

Headline earnings

Headline earnings per share for FY 2023 are expected to range from
US$0.91-0.97 per share (US$0.22-0.28 per share lower), which is 18% to
24% lower than the headline earnings for continuing operations of US$1.19
per share reported for FY 2022. The decrease in headline earnings is
driven by the once off net proceeds for the Yamana break fee of US$202m
(US$0.23 per share) received in FY 2022.

Headline earnings per share for continuing operations for FY 2023 are
expected to range from US$0.88-0.94 per share (US$0.24-0.30 per share
lower), which is 20% to 25% lower than the headline earnings for
continuing operations of US$1.18 per share reported for FY 2022.

Headline earnings per share for discontinued operations for FY 2023 are
expected to be US$0.03 per share (US$0.02 per share higher), which is
200% higher than the headline earnings for discontinued operations of
US$0.01 per share reported for FY 2022.

Basic earnings

Basic earnings per share for FY 2023 are expected to range from US$0.76-
0.82 per share (US$0.04 per share lower - 0.02 per share higher), which
is 5% lower to 3% higher than the basic earnings of US$0.80 per share
reported for FY 2022. FY 2023 basic earnings included lower after-tax
impairments of assets and investments of US$157 million compared to US$380
million in FY 2022, while the FY2022 basic earnings had included the once-
off net proceeds relating to the Yamana break fee of US$202m.

Basic earnings per share for continuing operations for FY 2023 are
expected to range from US$0.78-0.84 per share (US$0.01 per share lower -
0.05 per share higher), which is 1% lower to 6% higher than the basic
earnings of US$0.79 per share from continuing operations reported for FY
2022.

The basic loss per share for discontinued operations for FY 2023 is
expected to be US$0.02 per share (US$0.03 per share lower), which is 300%
lower than the basic earnings for discontinued operations of US$0.01 per
share reported for FY 2022.

Normalised profit
Normalised profit per share for FY 2023 is expected to range from US$0.98-
1.04 per share (US$0.01-0.07 per share higher), which is 1% to 7% higher
than the normalised profit of US$0.97 per share reported for FY 2022.

Normalised profit per share for continuing operations for FY 2023 is
expected to range from US$0.95-1.01 per share (US$0.01 lower-0.05 per
share higher), which is 1% lower to 5% higher than the normalised profit
for continuing operations of US$0.96 per share reported for FY 2022.

Normalised profit per share for discontinued operations FY 2023 is
expected to be US$0.03 per share (US$0.02 per share higher), which is
200% higher than the normalised profit for discontinued operations of
US$0.01 per share reported for FY 2022.

The financial and operational information on which this trading statement
is based has not been reviewed, nor reported on, by the Company’s external
auditors.

Gold Fields expects to release FY 2023 financial results on Thursday, 22
February 2024.

13 February 2024
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

Investor enquiries:

Jongisa Magagula
Tel: +27 11 562 9775
Mobile: +27 67 419 9503
Email: Jongisa.Magagula@goldfields.com

Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com