About this report

This IAR provides a detailed view of the performance of Gold Fields Limited for the year ended 31 December 2025. It explains how our purpose drives operational, financial and non-financial delivery against our three strategic pillars, which are underpinned by disciplined capital allocation, robust governance and a commitment to our 2035 aspirations and creation of long-term value. While this report is primarily intended for our capital providers, it also includes valuable insights for all our stakeholders

About Gold Fields

What we do

The why

Our purpose

Beyond mining Beyond mining

The what

Our strategy

The how

Our culture of care and accountability

Operate

Operate in a safe, reliable and cost-effective way

Impacts

Have a positive impact on our communities and the environment*

* Through responsible mining practices

Grow

Grow the quality of our portfolio

The Gold Fields Way is the mechanism through which we activate and embed our culture. It comprises:

Our culture levers:

  • Leadership and mindsets:
    How we lead, what we believe and how we act
  • Operating model:
    How we are structured and organised to deliver results
  • Operating practices and systems:
    The shared standards, routines and processes that support execution
Our 2035 strategic aspirations
  • Safety and wellbeing
    Eliminate serious injuries and fatalities; enhance lives
  • People, culture and capability
    Inclusive, values-driven teams growing capabilities
  • Social and environmental performance
    Trusted sustainable leadership
  • Safe, reliable and cost-effective operations
    Operational excellence
  • Asset quality
    Grow portfolio through value optimisation
  • Results
    Deliver shared social and financial success
Our values

Safety – If we cannot guarantee safe operations, we will not mine

Respect – Treat everyone with dignity, care and fairness

Collaboration – Work as a global team to succeed together

Responsibility – Own our actions and their impact

Our global operations

Home

Through deliberate transformation over time, Gold Fields has a high-quality, geographically diverse portfolio.

Nine mines across Australia, South Africa, Ghana, Chile and Peru

One project in Canada

Work-related fatalities3
0RA
Serious injuries3
6RA
Attributable gold‑equivalent production
2,438koz
AIC US$1,927/oz
Adjusted free cash‑flow (FCF)1
US$2,970m
Mineral Resources2
47.0Moz
Mineral Reserves2
48.3Moz
Total workforce
23,235
Total dividend declared
R25.50
Stakeholder value created
US$5.8bnRA

Leadership reviews

Chairperson's report

"The Board recognises that culture must be more than a stated set of values – it must be actively reflected in daily leadership. We therefore maintained close oversight of efforts to embed care, accountability and enhanced leadership behaviours across the Group."

Yunus Suleman

Chief Executive Officer's report

"2025 was a landmark year for Gold Fields, defined by a step‑change in our safety performance, strong operational delivery and continued progress in our strategic transformation. Most importantly, there were no work-related fatalitiesRA at our operations this year."

Mike Fraser

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