Building a safe and respectful workplace

Gold Fields has consistently pursued zero harm and is committed to our number one value of protecting the health, safety and wellbeing of our employees and contractors. In the past, we primarily focused on physical safety; however, given the increased awareness of harassment and bullying in the mining industry in recent years, we expanded our view to protect our people from all forms of harm – both physical and psychological.

Workforce by Group and region (end-December)

	Total workforce	Employees		Contractors		Proportion of  nationals1
	2023	2023	2022	2023	2022	2023
Australia	3,774	1,879	1,866	1,895	1,811	76%
South Africa	5,156	2,582	2,495	2,574	2,385	88%
Ghana	6,604	823	1,054	5,781	5,981	99.6%
Chile	3,771	471	416	3,300	4,025	95%
Peru	2,096	418	412	1,678	2,506	100%
Corporate	125	124	121	1	12	68%
Total	21,526	6,297	6,364	15,229	16,720	87%

1	Total workforce

Within this broader focus, we are driven to eliminate harmful behaviours and create a respectful workplace for everyone, which includes evolving the Group's culture, building a diverse and inclusive workforce and developing talent and leadership capabilities.

Gold Fields has over 21,500 employees across five countries. Our long-term focus on host community employment continues to influence our workforce profile: host community members comprise 51%^RA of our workforce (2022: 52%). This aligns with our strategy of creating value for the communities in the countries where we operate (read more on Host communities).

Key human resources metrics (end-December)

Category	2023	2022	2021	2020	2019
Total workforce	21,526	23,084	22,110	18,412	17,656
Minimum wage ratio1	2.10	2.41	1.78	1.71	1.97
Female employees (%)	25	23	22	20	20
Ratio of basic salary women to men	0.94	0.97	0.70	0.69	0.86
Employee wages and benefits (US$m)2	453	468	463	412	395
Average training spend per employee (US$)	1,400	1,411	1,397	1,211	1,912
Employee turnover (%)	9	16	12	6	16

1

Entry-level wages compared with local minimum wage. The minimum wage ratio has improved significantly over the past two years due to the inflationary increase and special adjustments applied as per our reward practices, with increases greater than the minimum wage increase in each region. This ratio excludes Ghana, as the mines only employs management-level employees with contractor mining in use at both of our mines

2

This excludes benefits paid to employees working on capital projects

Operators in the control room at our Granny Smith mine in Western Australia

Our Safety Strategy

Our Safety Strategy comprises three mutually supportive pillars to support our goal to eliminate safety risks to our people:

While we have improved many lagging safety indicators since introducing our current strategy, serious injuries and fatalities continue to occur across the Group. We are committed to eliminating these incidents completely – a commitment we have not yet met. Longer-term, we have undoubtedly made progress – reducing serious injuries by 65% since 2018 and consistently reducing the annual total recordable injury frequency rate (TRIFR), for example – however, we have reported at least one fatal incident annually over the past six years.

During 2023, two contractors at Tarkwa died in incidents on the mine. In addition, a non-operational fatal incident occurred during the reconstruction of Tarkwa and Aboso Stadium in Tarkwa, a project funded by the Gold Fields Ghana Foundation. Tragically, we will also not achieve our ambition of zero fatalities this year, as a South Deep employee was fatally injured in an underground incident involving trackless mining equipment on 2 January 2024. We extend our heartfelt condolences to the loved ones and colleagues of the deceased.

We also recorded six^RA serious injuries this year, compared with five in 2022. The Group's annual TRIFR improved, continuing the downward trend of recent years. The severity of lost time injuries (LTIs), as measured by days of work lost, remained stable after falling sharply in 2021. Gold Fields standardised its method for measuring “hours worked” at South Deep, departing from a formula to actual hours. This change affects the frequency rate calculations. Standardising the methodology does not change the improvement in TRFIR (or LTIFR) performance over the last five years, but rather resets the number.

We include leading and lagging safety performance indicators in operational, regional and Group-wide scorecards to ensure broad ownership of the safety agenda. Leading indicators include safety engagements and reporting of near-miss incidents. In 2023, we reported a 21% increase in our safety engagement rate from 2022, while reporting of near-miss incidents increased from 1,577 in 2022 to 2,325^RA in 2023 due to concerted reporting efforts at South Deep.

Following the Tarkwa incidents, we conducted an extensive safety review – driven by a cross-regional peer group and external experts – focusing on critical control management (CCM), contractor management, change management and our safety engagement processes. We are in the process of implementing the recommendations from this review – including improving our safety culture, which is actively driven by regional executives and mine management. Gold Fields Ghana also implemented several measures to improve safety following the above-mentioned fatalities, including:

• Reviewing the number of material unwanted events (MUEs), which reduced from 19 to nine, and implementing the MUE and critical controls strategy
• Continuous drive on hazard identification and reporting
• Intensifying Visible Felt Leadership
• Enhancing critical control verification

The Group's failure to eliminate fatalities and serious injuries prompted the Board and management to facilitate a Group-wide independent review, to be carried out in H1 2024 across the Group. In addition, our corporate safety, health and wellbeing capability is being enhanced with the appointment of a dedicated Group safety executive to oversee the review and the implementation of the recommendations, as well as provide greater support and strategic leadership to the mines.

Furthermore, management is looking at a reset of the Group Safety Strategy with the development of a new Gold Fields Safety Way, to be achieved in H1 2024 by:

• Revising the Group Safety Strategy, to be presented to the Board in August 2024
• Undertaking a safety diagnostic through third-party experts to understand our current safety processes and supporting culture. Sites' general managers are integral to this process and provide guidance and direction through a management committee structure
• Reviewing and updating the Group's safety and health assurance process
• Continuing to review safety reporting systems to ensure prompt learning of lessons from internal and external incidents, as well as accurate, transparent reporting of leading and lagging indicators

We continue to collaborate with our ICMM peers to eliminate fatalities and serious injuries. The ICMM is reviewing fatal and potentially fatal events, as well as occupational health, to understand underlying themes and inform a collective response. We will incorporate the outcome of this study into our Safety Strategy review process in 2024. The preliminary findings of this review, conducted by an independent firm of experts, show most fatal incidents in the industry are known and understood, and can be mapped to the nine major mining health and safety risks previously identified by the ICMM. The recommendation is that the industry reassess how safety risk management is applied, considering every risk as unique to one which focuses on risk identification and the application of pre-defined controls and performance requirements. Furthermore, the study found that, in 50% of fatal incidents reported by ICMM members, critical controls had failed to some extent. As such, they recommended a re-focus on critical control verification and testing to ensure the effective implementation and application of these controls.

Group safety performance (employees and contractors)

	2023 (new methodology)1	2023 (current)1	2022	2021	2020	2019
Fatalities2	2	2	1	1	1	1
Serious injuries3	6RA	6	5	9	6	4
LTIs4	27	27	31	30	32	38
Total lost time injury frequency rate (LTIFR)	0.62RA	0.53	0.60	0.62	0.72	0.80
Employee LTIFR	1.11RA	0.84	0.64	0.67	0.91	0.96
Contractor LTIFR	0.44RA	0.40	0.58	0.59	0.62	0.72
Total TRIFR5	2.36RA	2.01	2.04	2.16	2.40	2.19
Employee TRIFR	3.68RA	2.77	2.04	2.35	2.91	2.83
Contractor TRIFR	4.37RA	1.68	2.04	2.08	2.13	1.88
Severity rate6	28	24	19	19	32	23

1	Gold Fields standardised their method for measuring “hours worked” at South Deep, departing from a formula to actual hours. This change affects the frequency rate calculations. Standardising the methodology does not change the improvement in TRFIR (or LTIFR) performance over the last five years, but rather resets the number. The table above shows 2023 data for both methodologies
2	A non-operational fatal incident occurred during the reconstruction of a stadium in Tarkwa, a project funded by the Gold Fields Ghana Foundation
3	Since 2019, we have applied Gold Fields' definition to classify serious injuries, whereby a serious injury incurs 14 days or more of work lost and results in one of a range of injuries detailed at www.goldfields.com/safety.php
4	LTI is a work-related injury resulting in an employee or contractor being unable to attend work and perform any of their duties for one or more days after the injury
5	TRIFR = (fatalities + LTIs + restricted work injuries + medically treated injuries) x 1,000,000/number of hours worked
6	Severity rate = days lost to LTIs/hours worked x 1,000,000

Safety programmes

Our operations continue to review and improve safety processes, systems and standards, and our employees and contractors receive regular training in safety programmes, such as Courageous Safety Leadership and Vital Behaviours, as we work toward preventing MUEs and eliminating serious injuries and fatalities.

Critical control management

Our adoption of CCM has been essential to improve our control over MUEs since 2018. The lack or failing of critical controls may significantly increase the risk of MUEs despite the existence of other controls. Based on the ICMM's approach, we developed – and regularly review – critical controls for the most significant mine safety hazards.Our adoption of CCM has been essential to improve our control over MUEs since 2018. The lack or failing of critical controls may significantly increase the risk of MUEs despite the existence of other controls. Based on the ICMM's approach, we developed – and regularly review – critical controls for the most significant mine safety hazards.

This year, representatives of each region attended a workshop to review Gold Fields' CCM processes and indicators, progress proposals on the use of leading indicators, and ensure alignment on reporting metrics. Our focus on CCM also leads to strong performance against our internal environment, health and safety scorecards. For the fourth consecutive year, all operations achieved or exceeded 80% compliance with these scorecards.

In Australia, our operations improved their current approach to CCM to align with the new Work Health and Safety Act. While critical hazard standards have been a requirement of safety management systems for many years, this will be an opportunity to improve our system and, in particular, increase diligence around verification of controls by line management. We developed a Critical Hazard Management Plan for the region, revised our critical hazard standards, established standardised critical control verification toolkits and provided training to over 200 leaders across our sites. An external audit is scheduled for H1 2024.

In South Africa, our employees and other stakeholders remain updated on MUEs and associated critical controls through various communication channels and educational tools, and we introduced a measurement tool to gauge the effectiveness of our controls. We have drafted and assessed 12 MUEs, with the effectiveness rating of these showing steady improvement.

To fully integrate and align our business partners with our safety efforts, we conducted a comprehensive gap analysis to identify opportunities to enhance our collective organisational culture, safety processes and systems. We are working to close identified gaps and ensure our business partners are an integral part of the Group.

As previously reported, Gold Fields is a founding partner of the International Mining Safety (IMS) Hub initiative, an online portal through which CCM learnings and good practices can be shared visually and clearly to simplify and standardise processes and systems. The IMS Hub also improves learning opportunities and safety for employees while enabling us to benchmark critical controls against those of other companies.

Managing geotechnical risks

The mining industry continues to face geotechnical challenges due to ageing of certain mines and a trend toward mining deeper pits and more complex, often deeper underground deposits. This leads to higher pit walls, more complex underground environments, increased exposure to geotechnical instability, and increased propensity for seismic damage and hydrological impacts.

The Group's corporate geotechnical team conducts annual reviews of all geotechnical incidents and incident types at our operations to identify trends and reduce the likelihood of incident recurrence. There were 45 incidents within the open pits in 2023, 85% of which were batter-scale falls-of-ground, mainly in weaker oxide zones.

The number of incidents increased only marginally between 2022 and 2023, despite two new pits being mined and existing pits deepening during this period. There were 42 geotechnical incidents in the underground mines in 2023 (2022: 60). Dynamically driven ground support failure accounted for 72% of these, with the remainder due to falls-of-ground in both supported and unsupported areas.

Our portfolio consists of deep-level mines which are seismically active due to induced stresses approaching or exceeding the strength of the rock mass. Seismicity can contribute to incidents in these mines, and destress activities pose the highest risk for seismic-induced falls-of-ground. South Deep had 15 seismic incidents in 2023, while our underground mines in Western Australia – at Granny Smith, Agnew and St Ives – recorded four incidents.

We aim to use industry best practices in seismological monitoring and analysis, in addition to using dynamic ground support in these operations. We further mitigate this risk through geotechnical projects like improved support and standards, backfilling and stabilising pillars and, to identify seismic activity early, we perform seismic analysis and have seismic monitoring systems in place. At South Deep, pre-conditioning is undertaken in all destress areas to fracture the rock mass ahead of work being done. We also appointed the Geotechnical Review Boards to help implement industry best practice geotechnical design; monitoring; mine design; extraction sequencing; and ground support implementation, specifically at Cerro Corona, South Deep and the Wallaby mine at Granny Smith.

Modernisation and mechanisation to improve safety and health

Advancements in technology continue to transform the mining industry, and safety is one of our key drivers to further modernise and mechanise activities in our mines. This is an ongoing focus area, and dedicated teams in all regions are tasked with identifying how we can leverage technology to keep our people safer and healthier.

Safety interventions implemented for fatigue management are significantly improving the number of fatigue events reported, as well as operator discipline. In Ghana, our collision avoidance system is operational, with improvements in installed operational equipment and maintenance. At South Deep, work is far advanced in introducing extensive collision avoidance systems in line with government regulations, which are set to be finalised by year-end. In Australia, Gruyere started deploying it surface commission avoidance system. Granny Smith's underground situational awareness system was in full operation, with plans to roll-out across the Australian underground mines in 2024.

At present, collision avoidance technology in machines alert operators to the presence of a person or vehicle, who can then respond accordingly. At year-end, the installation of more advanced detection sensors will seek to prevent machine-to-machine or machine-to-person collisions by slowing down and then stopping the machine completely. Cap lamp detectors will help prevent machine-to-person or machine-to-machine collisions by slowing down the machine and stopping it automatically.

We continued to remove people from active mining areas at all our mines via teleremote loading, rock breaking and underground mining activities from surface. At South Deep, during 2023, we installed teleremote longhole stope drilling capabilities, while teleremote load haul dump surface operations are use across Australian underground mines.

Using battery-electric vehicles (BEVs) underground can reduce the heat load and minimise the impacts of diesel particulates and reduce carbon emissions. We initiated several programmes to decarbonise movement of mining material and waste. Our 2030 target is to reduce diesel usage at our mines by approximately 20%. Most prominently, we initiated trials of BEVs at various sites in partnership with OEMs. These trials aim not only to reduce emissions and DPMs but also improve vehicle safety.

Gold Fields is also actively involved in the Innovation for Cleaner Safer Vehicles initiative, which is partnering ICMM members with leading mining vehicle OEMs. The initiative is seeking vehicle development with lower carbon and diesel particular matter (DPM) emissions, but is also working toward advanced collision avoidance technology to eliminate fatalities from vehicle interactions.

Refer to our Climate Change Report for more details.

Safety leadership and safe behaviour

We continued driving our CSL programme, which encourages all employees and contractors to model safe behaviour for others. The programme gives employees practical tools to become safety leaders and focuses on creating a safe environment for people to speak up and stop work in an unsafe situation.

In 2023, our focus shifted to developing a refresher course to ensure safety leadership remains at the forefront of our operations. In doing this, we align the programme with the Gold Fields Way (p44), aim to reinvigorate the focus on safety leadership, drive team participation and create links to CCM. From a behavioural perspective, we continued implementing programmes to drive positive safety behaviours within the workplace. This includes our Vital Behaviours programme, through which all employees demonstrate their commitment to safety practices.

During the year, we trained 4,251 employees and contractors in the CSL programme and, to date, over 28,000 people have completed this programme.

Health and wellness

Occupational diseases

Our workforce is potentially exposed to hazards that could cause a range of occupational diseases. These include noise-induced hearing loss (NIHL), Silicosis and Cardio-respiratory Tuberculosis (CRTB), and musculoskeletal disorders (MSD). The degree of exposure risk varies between our sites due to the nature of our operations. We balance leadership, behaviours and fit-for-purpose management systems, and protocols and controls to protect our employees from exposure to these risks, all of which align with our commitment to upholding human rights.

We manage occupational diseases through our CCM approach and Occupational Health Strategic Framework. We also formed a Health Working Group to consolidate and align occupational health management practices and develop consistent approaches to mental health and psychosocial risk assessments across the Group.

The number of occupational disease cases recorded during 2023 rose to 29 from 27 in 2022. MSDs made up nine of the cases (2022: 10), NIHL eight^RA (2022: four), CRTB eight (2022: nine) and Silicosis two^RA (2022: two).

Silicosis and CRTB only occurred at South Deep, while MSDs occurred in Ghana, South Africa and Australia. No occupational diseases were reported in Peru and Chile.

DPM poses a risk for employees operating diesel-powered vehicles or working with machinery in confined underground spaces. This risk is more pronounced at our Australian and South African mines than our open-pit operations in Ghana and Peru. During the year, DPM levels continued to fall significantly, and only 3% of personal samples exceeded the occupational exposure limit (2022: 4%).

Silicosis and Tuberculosis

Airborne pollutant exposures and suppression remain a key focus area for South Deep, which recorded all cases of CRTB in the Group and two^RA Silicosis cases (2022: two), which were submitted for compensation. While high, the trend is improving amid a decline in respirable silica dust exposures as the mine has expanded the number of dust suppression units.

In line with industry milestones, South Deep has not had any Silicosis cases for individuals who joined the industry after 2008. All employees diagnosed with Silicosis go on a six-month prophylactic CRTB course of medication to reduce the risk of contracting CRTB.

Wider dust mitigation strategies include extensive dust monitoring and measuring, automated dust suppression systems and, as far as practical, removing people from risk. Training, education and awareness programmes, as well as appropriate protection equipment, are provided to employees. Annual and ad hoc medical screening help with early identification.

In May 2018, Gold Fields and five other South African gold companies reached a historic settlement with claimant attorneys in a Silicosis and Tuberculosis class action. A settlement trust, known as the Tshiamiso Trust, was established to execute the terms of the settlement and ensure all eligible current and former mineworkers across southern Africa with Silicosis or work-related Tuberculosis (or their dependants, where the mineworker has passed away) are compensated. By 7 March 2024, the Trust had paid out R1.47bn (US$79.5m) to 16,102 industry claimants.

At 31 December 2023, the provision for Gold Fields' share of the settlement of the class action claims and related costs amounted to R94m (US$5m).

While no Silicosis or CRTB cases were recorded in West Africa for the past two years, we continue to implement wider dust mitigation strategies in the country, including extensive dust monitoring and measuring, automated dust suppression systems and, as far as practical, removing people from risk. Training, education and awareness programmes, as well as appropriate protection equipment, are provided to employees. Annual and ad hoc medical screening also help with early identification.

Noise-Induced Hearing Loss

NIHL is a risk for employees exposed to ongoing high noise levels from machinery and equipment. New NIHL cases increased slightly, with six cases reported at South Deep (2022: four) and two in Australia (2022: zero). The majority of the employees affected in South Africa have over 36 years experience in the industry. All new equipment purchased, as far as reasonably practical, should not exceed noise levels of 107 dB(A), in line with the 2024 industry milestone.

South Deep continues to mitigate exposure by applying engineering and administrative controls at all high noise-emitting sources. This includes installing silencers; purchasing less noisy equipment where possible; identifying and zoning noise areas; and providing personalised hearing protection devices to employees. We also continue to encourage original equipment manufacturers to develop quieter equipment through our participation in the Minerals Council South Africa.

HIV/Aids

HIV/Aids is a particular risk for the South African population and is therefore a focus at South Deep. The percentage of HIV/Aids cases increased slightly to 19.7% (2022: 19.4%), mainly due to the increase in our workforce. At end-2023, 979 employees were living with HIV/Aids. We offer voluntary counselling and testing (VCT) to prospective and permanent employees, including contractors, and 98% of the workforce underwent VCT in 2023. We also provide HIV-positive employees with free highly active anti-retroviral therapy (HAART) and 580 employees are enrolled in this programme at present. Employees' dependants can access HAART through the Company's medical aid schemes.

HIV/Aids is less of a risk in Ghana, where the national HIV/Aids rate is below 2%. However, we offer free VCT to employees and contractors and run several educational programmes. During 2023, 47% of our workforce in Ghana underwent VCT (2022: 61%) and nine employees are enrolled in HAART (2022: eight). We identified three new HIV/Aids positive cases among our Ghana workforce.

In total, 8,184 Gold Fields employees underwent VCT in 2023, while 589 were enrolled in HAART.

Malaria

In Ghana, our employees face a high risk of exposure to malaria. The region has a comprehensive malaria control strategy in place, which includes education initiatives, prevention, prophylaxis and treatment. We also provide mosquito repellent to our workers, support for community health facilities and rapid diagnosis and treatment. In 2023, 460^RA employees (2022: 260) tested positive for malaria. We continue to assist our employees and communities under the indoor spraying programme.

Covid-19

In May 2023, the World Health Organization declared an end to Covid-19 as a public health emergency. The pandemic had a limited impact on our operations in 2023. We continued to screen employees as needed and had no active cases as at end-December 2023. We also did not record any Covid-19-related deaths during the year. Nevertheless, our operations remain ready to implement the necessary hygiene and distancing measures should new Covid-19 waves emerge.

Psychosocial harm

Our aspiration for zero harm extends to protecting our people's psychological and emotional health. We do not tolerate any form of harassment, bullying, discrimination or harmful behaviour, and are seeking to creating a safe workplace where everyone feels respected, valued and empowered to speak up. To achieve this, we need to build a culture centred on respect and care – one that values diversity, is inclusive and upholds the fundamental human rights of all our people. Therefore, in 2022, Gold Fields engaged EB&Co to conduct an expert independent review of our workplace culture.

The findings of EB&Co's review were released in August 2023 and provided a better understanding of our people's lived experiences in relation to harmful behaviour in the workplace, including bullying, sexual harassment and racism. The findings highlighted the need for significant efforts to create the secure, diverse and respectful work environments our employees rightfully expect and our leadership recognises as essential for our business to successfully execute its strategy.

A total of 2,855 employees responded to the online survey, amounting to 45% of employees across our regions. A far smaller number (7%) of our contractors participated, in part due to legal restrictions in certain regions.

While the review identified many strengths – including the directional change in culture, team collaboration and the Group's focus on physical safety – approximately half of the respondents reported having experienced harmful behaviour at work in the past five years, mainly relating to bullying; gender inequality; sexual harassment; and racism.

The Board and management reviewed the findings and committed to the following principles:

• Implementation of EB&Co's recommendations in full and conduct a follow-up survey in three years time to monitor our progress
• Build a respectful workplace framework as a key element of developing greater psychological safety across the business
• Build greater understanding and awareness of what diversity, equity, inclusion and belonging (DEIB) means in our business.

Gold Fields is committed to making our Company a working environment free from harmful behaviours. We intend to take important steps to ensure we eliminate these kinds of behaviour and are actively implementing the remedial recommendations stemming from the EB&Co review. The dashboard on the following page shows our progress in our actions to build a more respectful workplace.

	Invested leadership	Prevention and early intervention	Dignity and human rights at work	Person-centred responses	Focus on high-impact actions designed for context	Rigorous tracking and course correction
OUTCOMES AND MILESTONES	Measure leaders taking responsibility for team culture Invest in specialist DEIB expertise and capability Implement 360-degree assessment for all senior leaders Create a focused Respectful Workplace Advisory Council to play a key role in implementing these recommendations Prioritise people management capability in leadership recruitment and promotion practices Set clear and quantifiable aspirations through clear policy statements	Utilise risk assessment and management procedures to identify and mitigate risks related to harmful behaviours DEIB training – develop supervisors' and leaders' capability to identify, report and address harmful behaviours Integrate psychological safety and the willingness of employees to voice concerns as preventive measures Review all policy frameworks to create a simplified global framework Review Group-wide training practices, ensuring trainers serve as culture influencers	Senior leaders should engage with business partners and contract staff to understand their workplace experiences In all contracting arrangements with business partners, include access to harmful behaviour data involving our people to develop interventions Conduct facility audits to ensure safety, inclusion, respect and dignity for our workforce	Establish a reporting mechanism for harmful behaviour Conduct trauma-informed, confidential, fair and transparent investigations into harmful behaviours	Take actions to address region-specific early findings Roll-out ethical contracting framework to understand and develop interventions for harmful behaviour Review and address structural barriers preventing disadvantaged groups from recruitment and promotion opportunities Develop programmes to promote the advancement of disadvantaged groups	Track DEIB dashboard quarterly Redistribute the survey in three years Run an annual DEIB survey that includes psychological safety Expand ESG metrics beyond gender diversity to include inclusion, psychological safety and organisational culture

Beyond the 21 remedial recommendations the Group has started to implement – including developing Respectful Workplace and DEIB Policy Statements – we continue to be guided by several important policies and programmes already in place. These include Group Harassment and Group Sexual Harassment policies; unconscious bias training; support for programmes that combat gender-based violence; training on diversity and inclusion; and ongoing communication campaigns.

Our mental health programmes are in place and continue to be an important part of how we provide employees with a psychologically safe and supportive work environment.

After identifying common potential psychosocial hazards across the Group – which include sexual harassment and assault; bullying; discrimination; fatigue and burnout; and workplace relations – our Australia region conducted an initial workshop in 2023 and developed risk assessment tools, which will eventually inform a systematic approach to psychosocial harm management in our other regions.

We track and report our progress against EB&Co's remedial recommendations quarterly to our Executive Committee and the Board, and seek regular feedback from our employees to ensure we are making good progress. We will also commission another independent review within three years to assess our progress and are committed to full transparency with stakeholders in this regard.

Geologists at our Cerro Corona mine in Peru

For more information on the results of the EB&Co review, as well as the measures we are taking in response, refer to our 2023 Report to Stakeholders, or our Building a Respectful Workplace microsite.

Evolving the Gold Fields culture

Early in 2023, building on several months of consultation, we launched the Gold Fields Way to shape our actions and define our culture in our pursuit of being #StrongerTogether.

The Gold Fields Way details our culture aspiration and the behavioural attributes we expect from our employees. With this as our foundation, we will purposefully build a new culture based on four key areas: being one, caring, inclusive and empowered team; creating a respectful workplace with guaranteed dignity; working smarter together; and unlocking potential through learning and innovation. These key areas are further supported by ten behaviours that our employees identified as being critical to driving our aspired culture.

We launched a culture roll-out programme, which is supported by several initiatives: capability and skills programmes to reinforce the role of leadership within the Group; workshops and conversations across regions; talent and performance processes; and specific targeted interventions to drive the change. A key milestone on our journey was the Gold Fields Way Summit held in London in June 2023. This brought together 92 leaders from our business to align on the key actions our leaders need to own and implement to propel our culture journey. These leaders will act as change agents to drive the Gold Fields Way across the business.

We have already implemented several changes to help shape our journey going forward, including convening a Culture Guardian Committee, comprising regional Executive Vice-Presidents and General Managers (GM) to drive culture changes. Our GM Forum will also improve collaboration across the business. Through our culture future forum, comprising a representative group of Gold Fields employees and chaired by the CEO, we continue to identify practical ways to build the culture that Gold Fields aspires for. Over the next two to three years, Gold Fields will implement recommendations from the Culture Future Forum and the EB&Co review. We will measure the maturity of our culture journey based on five key elements, detailed hereafter.

Creating a diverse and inclusive workforce

At Gold Fields, we understand that the key to realising our full potential is by embracing the diverse attributes and perspectives of our people. We want our organisation to better reflect the demographics of the countries and communities in which we operate and have specific targets in place to address this. This goal can only be realised by building a workplace culture that holds safety, inclusivity and respect at its core.

During 2023, we evolved our Diversity and Inclusion Strategy to a Diversity, Equity, Inclusion and Belonging Strategy. In January 2024, our Board approved the Group's updated Diversity, Equity, Inclusion and Belonging Policy Statement to ensure we work in an environment where everyone contributes to Gold Fields' vision.

In June 2022, the ICMM announced updates to the Mining Principles to improve individual company performance related to diversity, equity and inclusion. Following this, the ICMM launched its Diversity, Equity and Inclusion Position Statement in June 2023. As a member of the ICMM, Gold Fields provided input on both developments and will review the updates against our current practices.

We continued to measure progress against our diversity and inclusion dashboard, which measures lead indicators such as succession planning, risk of employee departures and other key factors that drive our workforce composition. At the end of December 2023, 25% of Gold Fields' employees were women (2022: 23%). The percentage of women in core mining roles remained stable at 55% (2022: 55%), while the percentage of women in leadership improved from 25% to 27%. While these statistics show room for improvement, it is pleasing to see the steady increase in female representation over time: in 2016, only 16% of our workforce were women; 15% at management level and 8% in core mining roles.

The basic salary ratio for women to men was 0.94 in 2023 (2022: 0.97), reflecting our focused recruitment, retention and development of women, as well as salary adjustments where necessary. Gold Fields was included in the Bloomberg Gender-Equality Index for the sixth year in a row – one of only about 500 companies globally to achieve this.

In South Africa, legislation requires strong presentation by Historically Disadvantaged Persons (HDP) in the workplace. South Deep is making good progress in this regard, with 79% of employees HDPs and 65% of senior management. HDPs include white, women but not foreign national employees.

Talent and leadership development

Our training and development programmes attract new talent and develop the skills required by increasingly mechanised, modernised and automated mines. In 2023, we invested US$1,400 per employee in training (2022: US$1,411).

Leadership competencies are critical in helping us achieve our business plan. We have developed leadership programmes to meet specific objectives for senior managers, middle managers and graduates, which were rolled out in 2023. We have also finalised Gold Fields' job architecture for all roles across disciplines and career paths.

Culture and talent development help us attract and retain the right people. Critical role turnover for the Group was 9% against a target of 5%. Our Western Australian and Chilean operations in particular had high turnover levels of 15% and 13% respectively amid retention challenges in a fiercely competitive skills market. Factors influencing the workforce in Australia include skills shortages in crucial job categories and the mobile nature of the fly-in, fly-out (FIFO) workforce. In Chile, the remote location and high altitudes of Salares Norte also contribute to employee turnover.

The shortages of long-hole drill operators at South Deep amid new projects in the diamond industry coming on stream, abated in H2 2023 as the mine was able to recruit from the platinum group metals sector, where operations have had to scale back employment due to price pressures.

To address the wider turnover challenges, we focus on building our brand, talent attraction and retention, and employee benefit programmes.

Refining the operating model

A well-designed operating model is the backbone of any successful organisation, providing a blueprint for how different components work together to achieve strategic objectives. It aligns various functions, reduces duplication and waste, and ensures collaboration across functions and operations. In February 2024, Gold Fields announced that it will change its operating model from a three-layered organisation (Group, region, asset) to a two-layer functional guidance model (Group, assets), with the Group providing stronger functional guidance and support and leadership to the assets who, in turn, will be responsible for ensuring safe, reliable and cost-effective production.

With the regional structure removed, the Group's seven Australian and African mines will report into a newly created COO position. Martin Preece, our previous Interim CEO and EVP South Africa, was appointed to this position. The Cerro Corona and Salares Norte mines in South America will continue to report to the EVP South America, Luis Rivera.

The implementation of the new operating model should be finalised during Q2 2024.

Restructuring in Ghana

At the end of 2022, we started the process of combining Damang and Tarkwa's management teams to maintain maximum efficiency as Damang heads toward closure. Because of this, about 20% of the workforce was retrenched at the beginning of 2023. While the one-mine model and restructuring reduced host community employment, some host community employees were re-employed by contractors in April. The process was based on extensive engagement with members of our host community, who understood the need for exercise and the impacts thereof. We will continue to prioritise employing members from our host communities for future roles.

In March 2023, we also announced the proposed Tarkwa/Iduapriem JV with AngloGold Ashanti which, if approved, will create the largest gold mine in Africa and one of the largest in the world. The joint operation is expected to be supported by a substantial mineral endowment and an initial life-of-mine until 2042. While there may be some management positions impacted by the JV, if approved, the consolidated operation will ensure longer-term employment opportunities for the majority of the employees and contractors at both operations. We continue to engage with the Government of Ghana to obtain approval for the JV. For more information, refer to Proposed Tarkwa/Iduapriem JV: creating Africa's biggest gold mine.

Organised labour

We uphold our employees' rights to freedom of association and collective bargaining, and we ensure our contractors also abide by these standards.

Trade union membership among our employees is as follows:

• South Africa: 76%
• Ghana: 0% employees and an estimated 36% of contractors
• Chile: 59% of employees and 50% of contractors
• Peru: 23% of employees and 12% of contractors

In Australia, in accordance with legislative requirements, we do not collect data around union representation for employees or contractors.

Early in 2024, to foster a stable employee relations environment ahead of the planned increase in production and gold recovery – and to help attract and retain key skills and talent – South Deep extended its wage agreement with the National Union of Mineworkers and United Association of South Africa by two years to February 2026. To secure the agreement, the mine raised the wage increase for entry-level with 8% to 9% in 2023, while miners, artisans and officials received an increase of 7.5% – 8%. In 2024, the increase will be based on consumer price index (CPI) plus 2% for entry-level employees and CPI plus 1% for miners, artisans and officials.

Following the conclusion of the extended wage agreement, employee turnover with defined labour unions seemed to have stabilised — particularly among artisans and long hole stope operators. This is also attributed to a salary progression model implemented for long hole stope operators to provide for salary adjustments and enable greater versatility, self-sufficiency, and proficiency.

In Chile, upcoming collective bargaining with the Sindicato No 1 de Trabajadores trade union will set the precedent for mutual understanding and expectations around employment conditions – including wages, breaks, housing, benefits and bonuses. We are also gradually implementing a 40-hour work week in line with new legislation, with full implementation required by 2028. In 2023, we instituted a 44-hour work week as part of our commitment to comply within the required timelines.

In Peru, two of our principal contractors – Newrest Peru and MUR WY – were able to secure collective agreements through open and constructive dialogue. These agreements are valid for three years, and are a significant step up from the previously standard one-year agreements.