Gold Fields Ltd

Climate change and environmental governance is fundamental to the way Gold Fields addresses the impacts of climate change and ensures that we remain a responsible steward of the natural environment. The Climate Change and Environment Governance Framework, as set out below, illustrates how we integrate leadership, management and operational implementation and execution both from a top-down Group perspective and a bottom-up asset-based perspective. During the year, we made a significant strategic shift from a regional three-layered (Group, regions, operations) structure to a function-led, two-layered (Group, operations) organisational structure. This redesigned structure also reflects in our Climate Change and Environment Governance Framework. [...] |Leadership Group Strategic management|Board of Directors|Safety, Health and Sustainable Development Committee|Technical Committee (previously the Capital Projects, Control and Review Committee)|Remuneration Committee|Risk Committee|Strategy and Investment Committee| |---|---|---|---|---|---|---| ||• Sets the strategic direction and provides guidance|• Conducts quarterly reviews of environmental risks management • Monitors progress against environmental and climate change targets • Oversees the Group's TSF management and GISTM implementation • Oversees the Group's Climate Change Strategy and its implementation|• Monitors Salares Norte as a qualifying project and developing asset • Reviews progress of other qualifying Gold Fields projects and joint ventures, including the Windfall project in Québec, Canada • Oversees and approves capital expenditures|• Oversees the Group's Remuneration Strategy, including climate and environmental-related KPIs included in the Group's Balanced Scorecard and LTIP of executives and management View our Remuneration Report here.|• Reviews risk appetite and tolerance • Evaluates the Group's strategic risks and opportunities • Identifies Group catastrophic risks, which have the potential to cause severe business interruptions|• Transitioned from an ad hoc Investment Committee to the full-time Strategy and Investment Committee • Considers and recommends to the Board the Group's strategy • Oversees and approves capital allocation and the broader application of the Group Capital Application Framework| ||Chief Executive Officer|Executive Committee|Climate Change Steering Committee|Water Working Group|Mine Closure Discipline Development Group|Tailings Discipline Development Group| ||• Leads the Executive Committee and management teams to develop and implement the Group's climate change and environment-related strategies|• Implements the Company's climate change and environment-related strategies|• Oversees decarbonisation Scope 1, 2 and 3 emissions, including mid-point review • Oversees climate risk and adaptation – including flooding and inundation study • Reviews climate financing opportunities and carbon pricing • Conducts LTIP review • Reviews key renewables projects|• Reviews and strategises on matters of common concern and actions required to address these • Ensures alignment on key priorities and projects • Shares best practices and thought leadership|• Provides closure leadership and support to assets and new projects • Ensures closure discipline is optimised, aligned, standardised and leveraged to deliver benefits across Gold Fields' assets, operations and projects • Shares experiences, case studies and lessons learned from past and ongoing mine closure projects • Promotes the adoption of globally recognised standards and innovative approaches to mine closure|• Provides tailings leadership and support to assets and new projects • Ensures tailings discipline is optimised, aligned, standardised and leveraged to deliver benefits across Gold Fields' assets, operations and projects| ||General Manager|Site leadership teams|Energy management|Water Working Committee|Mine Closure Steering Committee|Tailings Community of Practice| - Ensures operational implementation and execution of the various site-specific functions - Updates management plan and guideline annually - Develops portfolio of energy projects - Completes measurement and verification - Provides quality assurance on measuring systems - Provides reporting - Oversees: – Water-related risks – The Group's 2030 Water Strategy, along with implementation actions – Three-year tactical plans – Life-of-mine (LOM) water security plans – Water costs – Water projects - Oversees: – Attainment of Gold Fields' objectives of achieving integrated closure planning and costing and enhancing social licence for closure – Adequate integration of closure into decision making and business processes throughout the life of the asset – Development and implementation of updated mine closure plans that meet ICMM's standards and national compliance obligations – Regular and timeous updates of closure cost estimates (CCE) that meet all compliance obligations – Implementation of concurrent closure programmes - Focuses on implementing the GISTM and sharing lessons from global TSFs - Facilitates the exchange of technical, operational and governance insights related to tailings management - Provides a forum for discussion challenges, developing solutions and addressing risks in tailings management - Provides centralised access to guidelines, case studies, tools and resources like GISTM, ICMM documents and tailings risk

The Gold Fields Board, particularly its Social, Ethics and Transformation Committee, has oversight of stakeholder engagement and relations. [...] In 2022 we established a Group-wide stakeholder engagement forum to oversee the implementation of the Stakeholder Engagement Strategy. [...] We monitor our stakeholder interactions through our External Interactions and Commitment Register portal, which records our workforce's interactions with stakeholders to ensure accountability. [...] Outcomes from our operational and strategic stakeholder engagements are logged in our Group External Interaction & Commitment Register and communicated through our Enterprise Risk Management process – and so form a vital part of the Group's risk management programme and mitigation measures.

### Governance and management

During 2022 the Board, via its various subcommittees, oversaw the following material ESG programmes:

z Approval of the Water Stewardship and Sustainable Development policy statements, the latter in February 2023

z Development of water-related community programmes, as part of the Group Flagship Programme

z Commissioning of the 12MW Gruyere solar farm

z Commissioning of South Deep's 50MW, R715m solar project

z Ongoing implementation of the Global Industry Standard on Tailings Management

z Ensured ESG continues to be integrated into the business and first year of implementation of 2030 targets

Our climate change governance structure, and accompanying responsibilities, are as follows.

Gold Fields does not provide any financial contributions to political parties unless explicitly approved by the Board in accordance with the Company's Code of Conduct. No political donations have been made for several years. [...] Throughout 2023, we engaged with the Western Australian government through the Chamber of Minerals and Energy of Western Australia and our Australian gold sector peers through the Gold Industry Group on issues impacting the gold sector and the mining sector. [...] Our engagement with national government and congress, particularly on regulatory matters, primarily takes place through the National Chamber of Mines, Oil and Energy (SNMPE). The industry has good working relationships with various public bodies at all levels of government. Our main challenges has been the increase in public officials' turnover at national level due to political instability, which increased the risk of permits delays and policy uncertainty. This was managed through close monitoring and timely engagement with government.

SUSTAINABILITY ESG world profile

# ESG World Profile

Gold Fields does not provide any financial contributions to political parties unless explicitly approved by the Board in accordance with the Company's Code of Conduct. No political donations have been made for several years. [...] Throughout 2023, we engaged with the Western Australian government through the Chamber of Minerals and Energy of Western Australia and our Australian gold sector peers through the Gold Industry Group on issues impacting the gold sector and the mining sector. [...] Our engagement with national government and congress, particularly on regulatory matters, primarily takes place through the National Chamber of Mines, Oil and Energy (SNMPE). The industry has good working relationships with various public bodies at all levels of government. Our main challenges has been the increase in public officials' turnover at national level due to political instability, which increased the risk of permits delays and policy uncertainty. This was managed through close monitoring and timely engagement with government.

### Governance and management

During 2022 the Board, via its various subcommittees, oversaw the following material ESG programmes:

z Approval of the Water Stewardship and Sustainable Development policy statements, the latter in February 2023

z Development of water-related community programmes, as part of the Group Flagship Programme

z Commissioning of the 12MW Gruyere solar farm

z Commissioning of South Deep's 50MW, R715m solar project

z Ongoing implementation of the Global Industry Standard on Tailings Management

z Ensured ESG continues to be integrated into the business and first year of implementation of 2030 targets

Our climate change governance structure, and accompanying responsibilities, are as follows.

--NEW-PAGE--

### Climate-related standards

###### CLIMATE-RELATED POLICY STATEMENTS AND COMMITMENTS
Gold Fields has integrated global sustainability standards and
reporting guidelines to ensure effective management of our
climate-related and other environmental risks. These include:

z The Taskforce for Climate-related Financial Disclosures
(TCFD) has gained worldwide adoption and disclosure since
its inception in 2017. Gold Fields' fifth CCR is aligned to the
TCFD recommendations. Prior to TCFD-alignment, Gold Fields
reported its climate change performance under the Carbon
**Disclosure Project (CDP). Our water management performance**
is still submitted to the CDP Water programme.

z Gold Fields has submitted its net scope 1 and 2 emissions
reduction targets for validation by the Science Based Targets
**Initiative (SBTi). The SBTi endorses company emission targets**
and provides feedback from technical experts. It is recognised
by a range of global organisations, such as the UN Global
Compact and CDP. We may apply for validation of our scope 3
targets once these have been finalised.

z As a member of the International Council on Mining & Metals
(ICMM), Gold Fields' reports are prepared in accordance with,
and with reference to, the Global Reporting Initiative's (GRI)
Universal Standards, which provide guidance on a wide range
ESG disclosures.

z The Johannesburg Stock Exchange's voluntary Climate
**Change and JSE Sustainability Disclosure Guidance, which**
aligns with international disclosure standards such as GRI and
TCFD, was introduced in mid-2022.

z The final US Securities and Exchange Commission (SEC) rules
for climate-related disclosures and the International
**Sustainability Standards Board (ISSB) first two sustainability**
standards are currently being finalised. Once in effect, we will
seek to conform with their sustainability and climate-related
disclosure requirements.

###### Mining industry associations
The ICMM's Mining Principles and supporting Performance
Expectations define many of our ESG-related policies and guide
our work in this area. Our own policy statements have been fully
aligned to the Mining Principles. The ICMM's climate change
commitment is captured in its 2021Position Statement on
Climate Change.

The table on page 10 provides ICMM commitments and policies
on climate change and water stewardship, the equivalent
Gold Fields commitments and our key implementation actions
and targets.

Gold Fields rejoined the World Gold Council in February 2022.
This membership requires compliance with its two key standards:
the Conflict-Free Gold Standard (CFGS) and the Responsible
Gold Mining Principles (RGMP). The latter are a framework of
10 principles, including environmental and climate change
principles, that set clear expectations for responsible gold mining.
As new members, we have three years to achieve full conformance,
although we are confident of achieving this ahead of schedule.

###### ISO standards
Gold Fields' mines comply with energy management standards
developed by the International Organisation for Standardisation
(IS0). The ISO 50001 energy management system standard is
a framework for implementing technical and management strategies
that enable reductions in energy cost and greenhouse gas
emissions. Our Ghanaian mines and Cerro Corona in Peru are
certified to the standard.

Our Australian and South African mines are anticipated to obtain
ISO 50001 certification by the end of 2023. Such implementation
will not only provide the framework in which our decarbonisation
journey will take place, it will allow for better management and
understanding of indirect emissions that inevitably impact our
decarbonisation journey.

All our mines are also certified to the ISO 4001 environmental
management system standard.

### Governance and management

During 2022 the Board, via its various subcommittees, oversaw the following material ESG programmes:

z Approval of the Water Stewardship and Sustainable Development policy statements, the latter in February 2023

z Development of water-related community programmes, as part of the Group Flagship Programme

z Commissioning of the 12MW Gruyere solar farm

z Commissioning of South Deep's 50MW, R715m solar project

z Ongoing implementation of the Global Industry Standard on Tailings Management

z Ensured ESG continues to be integrated into the business and first year of implementation of 2030 targets

Our climate change governance structure, and accompanying responsibilities, are as follows.

We are also working collaboratively with our peers in the ICMM and in other industry associations and initiatives to find common solutions to challenges such as zero emissions vehicles. Finally, we have committed to reporting annually on how we are performing in meeting our 2030 targets, so shareholders and other stakeholders have visibility of our progress. [...] Ethical leadership and integrated governance structures and processes are crucial in our strategy in tackling climate change. Our Board of Directors, the Safety, Health and Sustainable Development (SHSD) Sub-Committee, as well as Gold Fields' Executive Committee have committed to dealing with the impacts of climate change and drive the transition to a low-carbon future. We have continued to refine our governance structures with the establishment of an Executive Steering Committee dedicated to guide and monitor the development and implementation of the climate change and decarbonisation strategy. The Committee follows a holistic approach and comprises executives from the relevant functions and departments. It is supported by advisory and technical groups, external consultants and regional leads.

Climate change and environmental governance is fundamental to the way Gold Fields addresses the impacts of climate change and ensures that we remain a responsible steward of the natural environment. The Climate Change and Environment Governance Framework, as set out below, illustrates how we integrate leadership, management and operational implementation and execution both from a top-down Group perspective and a bottom-up asset-based perspective. During the year, we made a significant strategic shift from a regional three-layered (Group, regions, operations) structure to a function-led, two-layered (Group, operations) organisational structure. This redesigned structure also reflects in our Climate Change and Environment Governance Framework. [...] |Leadership Group Strategic management|Board of Directors|Safety, Health and Sustainable Development Committee|Technical Committee (previously the Capital Projects, Control and Review Committee)|Remuneration Committee|Risk Committee|Strategy and Investment Committee| |---|---|---|---|---|---|---| ||• Sets the strategic direction and provides guidance|• Conducts quarterly reviews of environmental risks management • Monitors progress against environmental and climate change targets • Oversees the Group's TSF management and GISTM implementation • Oversees the Group's Climate Change Strategy and its implementation|• Monitors Salares Norte as a qualifying project and developing asset • Reviews progress of other qualifying Gold Fields projects and joint ventures, including the Windfall project in Québec, Canada • Oversees and approves capital expenditures|• Oversees the Group's Remuneration Strategy, including climate and environmental-related KPIs included in the Group's Balanced Scorecard and LTIP of executives and management View our Remuneration Report here.|• Reviews risk appetite and tolerance • Evaluates the Group's strategic risks and opportunities • Identifies Group catastrophic risks, which have the potential to cause severe business interruptions|• Transitioned from an ad hoc Investment Committee to the full-time Strategy and Investment Committee • Considers and recommends to the Board the Group's strategy • Oversees and approves capital allocation and the broader application of the Group Capital Application Framework| ||Chief Executive Officer|Executive Committee|Climate Change Steering Committee|Water Working Group|Mine Closure Discipline Development Group|Tailings Discipline Development Group| ||• Leads the Executive Committee and management teams to develop and implement the Group's climate change and environment-related strategies|• Implements the Company's climate change and environment-related strategies|• Oversees decarbonisation Scope 1, 2 and 3 emissions, including mid-point review • Oversees climate risk and adaptation – including flooding and inundation study • Reviews climate financing opportunities and carbon pricing • Conducts LTIP review • Reviews key renewables projects|• Reviews and strategises on matters of common concern and actions required to address these • Ensures alignment on key priorities and projects • Shares best practices and thought leadership|• Provides closure leadership and support to assets and new projects • Ensures closure discipline is optimised, aligned, standardised and leveraged to deliver benefits across Gold Fields' assets, operations and projects • Shares experiences, case studies and lessons learned from past and ongoing mine closure projects • Promotes the adoption of globally recognised standards and innovative approaches to mine closure|• Provides tailings leadership and support to assets and new projects • Ensures tailings discipline is optimised, aligned, standardised and leveraged to deliver benefits across Gold Fields' assets, operations and projects| ||General Manager|Site leadership teams|Energy management|Water Working Committee|Mine Closure Steering Committee|Tailings Community of Practice| - Ensures operational implementation and execution of the various site-specific functions - Updates management plan and guideline annually - Develops portfolio of energy projects - Completes measurement and verification - Provides quality assurance on measuring systems - Provides reporting - Oversees: – Water-related risks – The Group's 2030 Water Strategy, along with implementation actions – Three-year tactical plans – Life-of-mine (LOM) water security plans – Water costs – Water projects - Oversees: – Attainment of Gold Fields' objectives of achieving integrated closure planning and costing and enhancing social licence for closure – Adequate integration of closure into decision making and business processes throughout the life of the asset – Development and implementation of updated mine closure plans that meet ICMM's standards and national compliance obligations – Regular and timeous updates of closure cost estimates (CCE) that meet all compliance obligations – Implementation of concurrent closure programmes - Focuses on implementing the GISTM and sharing lessons from global TSFs - Facilitates the exchange of technical, operational and governance insights related to tailings management - Provides a forum for discussion challenges, developing solutions and addressing risks in tailings management - Provides centralised access to guidelines, case studies, tools and resources like GISTM, ICMM documents and tailings risk

Our Stakeholder Relationship and Engagement Policy, approved by the Board in 2018, has been entrenched as part of our alignment with the vision of the King IV Report on Corporate Governance for South Africa 2016 (King IV*) "to adopt a stakeholder-inclusive approach that balances the needs, interests and expectations of material stakeholders in the best interests of the Company". We further developed an internal portal to register material engagements with our key stakeholders. Our management teams have been incentivised to enhance the number and quality of their stakeholder engagements since January 2019.

SUSTAINABILITY ESG world profile

# ESG World Profile

The mining and metals industry play a significant part in the transition to a low-carbon future and in providing the required minerals and metals for the low-carbon and zero-carbon energy transition. Therefore, we see industry associations as powerful platforms for collective and impactful action to identify and manage climate-related risks and impacts. We take our responsibility towards addressing climate change seriously and as such have taken leadership roles in some of these associations and are active participants in ESG and climate-related initiatives and projects. Here is a snapshot of some of these initiatives. [...] We are also working collaboratively with our peers in the ICMM and in other industry associations and initiatives to find common solutions to challenges such as zero emissions vehicles. Finally, we have committed to reporting annually on how we are performing in meeting our 2030 targets, so shareholders and other stakeholders have visibility of our progress.

|1.5: Disclose the value and beneficiaries of financial and in-kind political contributions whether directly or through an intermediary|Our Group Governance & Compliance Framework, Code of Conduct and management and engagement with government and related third-parties prohibits financial and in-kind political contributions, unless approved by the Board. Relevant financial payments are disclosed in our Annual Financial Report, Integrated Annual Report and/or Report to Stakeholders.|●|N/A|N/A|N/A|N/A|N/A|N/A|N/A|N/A|Corporate externally validated|

The Gold Fields Board, particularly its Social, Ethics and Transformation Committee, has oversight of stakeholder engagement and relations. [...] In 2022 we established a Group-wide stakeholder engagement forum to oversee the implementation of the Stakeholder Engagement Strategy. [...] We monitor our stakeholder interactions through our External Interactions and Commitment Register portal, which records our workforce's interactions with stakeholders to ensure accountability. [...] Outcomes from our operational and strategic stakeholder engagements are logged in our Group External Interaction & Commitment Register and communicated through our Enterprise Risk Management process – and so form a vital part of the Group's risk management programme and mitigation measures.