Creating enduring value beyond mining
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GOLD FIELDS LIMITED INTEGRATED ANNUAL REPORT 2021

2022 Group Scorecard

We are committed to achieving our vision of being the preferred gold mining company delivering sustainable and superior value. The delivery of this vision as well as our new purpose statement – creating enduring value beyond mining – will be achieved by implementing the three pillars of our strategy; maximising the potential from current assets through people and innovation, building on our leading commitment to ESG and growing the value and quality of our portfolio of assets. The group and operations have developed a range of objectives on how this strategy will be implemented. These objectives, their respective targets and linked initiatives are shown in the group 2022 Scorecard here:

 

 

FINANCIAL
INCREASE VALUE FOR ALL STAKEHOLDERS

13
IMPROVE TOTAL SHAREHOLDER RETURN (TSR)

  • Cost of equity
  • Median performer in the peer group

14
IMPROVE FREE CASH-FLOW MARGIN (FCM)

  • FCM at the business plan gold price (US$1,600) (US$78.9m)

15
REDUCE DEBT

  • Limit increase in net debt while funding Salares Norte and paying dividends at budget gold price and exchange rates
  • Target: US$124.6m
STAKEHOLDER
DELIVER ON OUR COMMITMENTS TO ESG

9
IMPROVE ANALYST VALUATIONS OF OUR ASSETS

90% delivery against all ESG strategic priority targets including:

  • Improve controls to eliminate fatalities and serious incidents (fatalities, serious injuries and serious environment incidents)
  • Reduction in carbon emissions
  • Increase in female representation
  • Adherence to tailings standards
  • Improve business, community and stakeholder value
  • Water stewardship

10
IMPROVE CONTROLS TO ELIMINATE FATALITIES AND SERIOUS INCIDENTS

  • 80% progress on EHS scorecard (lead indicators)
IMPROVE PERCEPTION OF VALUE

11
IMPROVE ANALYST VALUATIONS OF OUR ASSETS

  • 1.05x analyst valuations to internal valuations (selected cases) – for current assets at the same gold price

12
IMPROVE THE GOLD FIELDS BRAND WITH EMPLOYEES, HOST COMMUNITIES AND ALL OUR STAKEHOLDERS

  • 80% achievement of brand perception project implemented
INTERNAL BUSINESS PROCESSES

5
IMPROVE QUALITY AND DELIVERY OF OUR PLANS

  • 80% of key strategic planning projects implemented to deliver the selected case
  • 90% of sites meeting technical review standards in terms of adherence to strategic planning guidance (including capital and operating cost estimates)

6
INCREASE DISCIPLINE IN DELIVERING THE PLAN

  • ±5% variance – metal – oz
  • ±5% variance of capital to plan (spend and correct projects)
  • ±5% variance – net operating cost
  • >75% compliance to plan and schedule

7
IMPROVE OPERATIONAL EFFICIENCIES THROUGH ASSET OPTIMISATION

  • 90% of progress against asset optimisation project plan (from diagnosis to implementation)
  • 25 business critical initiatives identi?ed per site that enhance the value of the asset
  • ±8 reduction in variance on milled grade vs plan
  • % reduction in operating cost per tonne milled against 2021 baseline

8
IMPROVE EFFICIENCY AND INTENSITY OF CAPITAL SPEND

  • >60% of approved capital allocated in accordance with their capital ranking and allocation framework
  • 70% capital projects executed in accordance with Board-approved plan (scope, schedule and cost)
  • 5% capital savings from completed capital projects
ORGANISATIONAL CAPACITY

1
GROW THE VALUE AND QUALITY OF OUR PORTFOLIO OF ASSETS

  • One new asset added to portfolio that meets the criteria approved by the Board
  • 5% increase in internal valuation per share of portfolio using 2021 sustaining case as baseline

2
ENHANCE THE CAPABILITY OF OUR PEOPLE

  • 60% of D-band and above workforce assessed
  • 50% match of D-band individuals assessed to current role requirements

3
DRIVE CULTURE OF INNOVATION, HIGH PERFORMANCE AND INCLUSIVITY

  • 95% progress on mapping out the culture journey
  • % alignment to culture roadmap (metric year 2 onwards)

4
INCREASE THE VALUE DELIVERED THROUGH MODERNISATION PROJECTS

  • 70% of digital infrastructure projects completed
  • 50% modernisation projects that comply with the quality framework milestones

INITIATIVES TO SUPPORT THE SCORECARD OBJECTIVES

ORGANISATIONAL
CAPACITY

1
GROW THE VALUE AND QUALITY OF OUR PORTFOLIO OF ASSETS
  • Merger and acquisition opportunities
  • Divestment opportunities
  • Greenfields/Brownfields exploration strategy
  • Deliver Salares Norte
2
ENHANCE THE CAPABILITY OF OUR PEOPLE
  • Entrench requisite organisational principles
  • Enhance talent management strategy
  • Drive learning and development interventions
  • Future ways of working
3
DRIVE CULTURE OF INNOVATION, HIGH PERFORMANCE AND INCLUSIVITY
  • Design, implement and measure the desired culture
4
INCREASE THE VALUE DELIVERED THROUGH MODERNISATION PROJECT
  • Develop holistic modernisation, technology and modernisation plan based on asset optimisation supported by business cases
  • Identify high priority modernisation and innovation opportunities
  • Revamp and accelerate modernisation programme (as part of the five-year (I&T) strategy review)

INTERNAL BUSINESS
PROCESSES

5
IMPROVE QUALITY AND DELIVERY OF OUR PLANS
  • Strategic projects pipeline delivery initiative
  • Technical review initiative
6
INCREASE DISCIPLINE IN DELIVERING THE PLAN
7
DRIVE CULTURE OF INNOVATION, HIGH PERFORMANCE AND INCLUSIVITY
  • Assessment of key value drivers for each site
  • Understanding capability histograms
  • Stability analysis and understanding variability data
  • Efficiency tracking for operations
  • Initiative identification business case, execution) and use case deployment (modernisation)
8
IMPROVE EFFICIENCY AND INTENSITY OF CAPITAL SPEND

STAKEHOLDER

9
ADHERENCE TO ESG FRAMEWORK
  • Decarbonisation plan and execution (in line with net-zero commitments made)
  • Diversity strategy and plan
  • Water stewardship strategy and plan
  • Communities/stakeholder value creation
  • Tailings management
  • Catastrophic risks management

Deliver on our commitment to ESG

10
IMPROVE CONTROLS TO ELIMINATE FATALITIES AND SERIOUS INCIDENTS
  • Safety programmes
  • Mental wellbeing initiatives
  • Lead indicators for environment to be defined
11
IMPROVE ANALYST VALUATIONS OF OUR ASSETS
  • Execute targeted industry and analyst stakeholder engagement plan
  • Create holistic stakeholder engagement strategy

Improve perception of value

12
IMPROVE THE GOLD FIELDS BRAND WITH EMPLOYEES, HOST COMMUNITIES AND ALL OUR STAKEHOLDERS
  • Branding initiative

FINANCIAL

13
IMPROVE TSR

Increase value for all stakeholders

14
IMPROVE TSR
15
REDUCE DEBT