Gold Fields Ltd ADR Mining Forum Americas 2026

Much appreciate that and appreciate the welcome. My name is Mike Fraser. I am CEO of Gold Fields. Over the next 20 minutes, what I am going to do is take you through the Gold Fields story. Our focus is really on building a quality business, a focus on growth, organic growth, a focus on cash, and a focus on superior returns to shareholders. Today, as I appreciate many would want to hear, is also a discussion on our proposed acquisition of Northern Star, which has received quite a lot of attention over the last 24 hours. I just bring your attention to the forward-looking statements in the presentation. In particular, anything that we refer to Northern Star in terms of numbers are all from publicly available information. Just again, talking to the agenda, I will go through three parts. Firstly, just an overview of Gold Fields.

Secondly, the proposed combination of Northern Star, the merits and the synergies that we see, and then concluding with an overview of Gold Fields. We believe our standalone business demonstrates a quality portfolio with significant internal organic growth opportunities with strong cash generation and strong returns. From the outset, whilst we see strong merits in the combination with Northern Star, we will be very disciplined about how we pursue this opportunity. We think it does provide a compelling case for the combination to all shareholders, but we are equally comfortable with the strong delivery of our own internal opportunity set. Just moving on to the Gold Fields group overview. Today, we have eight operations across six countries. We are listed on the JSE as well as the New York Stock Exchange.

In 2025, we delivered 2.44 million ounces of gold, and this year we are guiding between 2.4 million and 2.6 million ounces with on track to delivering towards the top end of this range. If you go onto our strategy, what we are trying to create with Gold Fields is creating a reliable, predictable operating company, delivering relative outperformance in free cash flow per share growth, and delivering upper quartile returns to shareholders. The investment that we are making in both our portfolio, our operations, and our operating platform is to create a sustainable delivery platform to allow sustainable and predictable delivery from this portfolio.