Media release

Gold Fields announces first sustainability linked loan

Johannesburg, 5 June 2023: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to announce that it has successfully refinanced its US$1.2bn 2019 revolving credit facility (RCF). For the first time, the new facility is linked to the achievement of three of Gold Fields' key ESG priorities: gender diversity, water stewardship and decarbonisation.

Key terms of the new RCF are:

• A principal loan amount of US$1.2bn, with an option to increase the facility by up to US$400m.
• Maturity of five years, with an option to extend the tenor through two one-year extensions.
• A competitive margin, subject to rating margin adjustments and sustainability margin adjustments.
• Gold Fields will benefit from a lower margin depending on the fulfilment of the sustainability linked key performance indicators (KPIs) under the facility agreement. Conversely, Gold Fields will pay a premium on its margin if the KPIs are not met.
• The facility agreement was concluded with a syndicate of 16 banks, with MUFG Bank as sole global co-ordinator and ING Bank and MUFG Bank as joint sustainability co-ordinators.

The sustainability linked KPIs for the five-year term of the loan until 2027 are aligned with Gold Fields' strategy as well as its 2030 ESG targets. They address the most material ESG priorities for the Company and the mining sector in general:

• Improving women representation in our total workforce from Gold Fields' current 23% level.
• Increasing the amount of reused/recycled water from the 75% of total water consumption achieved in 2022.
• An abatement in Scope 1 and 2 CO2 emissions through renewable energy projects.

"This is Gold Fields' first sustainability linked loan and relates to our second strategic pillar, namely to 'build on our leading commitment to ESG'. It illustrates how ESG has become fully integrated into our business," says Paul Schmidt, Gold Fields' Chief Financial Officer.

The KPIs set in the loan, if achieved, will assist Gold Fields in reaching its 2030 ESG targets launched in 2021. For the relevant ESG areas the 2030 targets are 30% women representation, 80% of water consumed to be recycled/reused, and reducing net Scope 1 and 2 emissions by 30% and absolute emissions by 50%.

Gold Fields has also completed four 5-year RCFs with South African banks for a total of R2.5bn to fund capital expenditure as well as general corporate and working capital requirements of the Group. The interest rates under the RCFs with Rand Merchant Bank (R1.0bn) as well as Nedbank, ABSA Bank and Standard Bank (R500m each) are linked to the Johannesburg Interbank Average Rate (JIBAR) plus a margin.

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