Gold Fields : supports host community SMEs

INVESTORS AND MEDIA Media release

Media release Gold Fields supports host community SMEs

Tuesday, 27 June 2023

Johannesburg, 27 June 2023: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) today celebrates its partnerships with small- and medium sized enterprises (SMEs) on United Nations Micro-, Small and Medium-Sized Enterprises Day.

"The development of sustainable SMEs, who are key partners for Gold Fields, is crucial to ensuring economically viable host communities. They provide the Group with products and services and importantly create jobs in our host communities and host countries," says Martin Preece, Gold Fields Interim CEO.

"Thriving SMEs are integral to social and economic development and growth of our host communities and countries. We believe our commitment towards ensuring that 30% of the total value we create is within our host communities will enable this," he adds, in reference to one of Gold Fields' key ESG 2030 targets.

In 2022, Gold Fields introduced preferential payment terms for our SMEs in host communities, particularly those led by minority and disadvantaged groups. Payment terms have been reduced from 30 days to 14 days (from date of ratified invoice) for host community SMEs and, in Australia, for Aboriginal-owned businesses.

The improved terms, which have been implemented since mid-2022, seek to alleviate the cashâ€'flow challenges often experienced by SME suppliers and service providers. At the end of 2022, Gold Fields had 731 host community companies on its books, of which approximately 60% are classified as SMEs.

During 2022, Gold Fields' global procurement spending was US$2.42bn, of which US$747m, or 31%, was with host community businesses.

Our mines actively work with our SMEs to improve their business, financial and managerial skills to ensure they remain competitive and meet our and other customers' requirements. For example, the South Deep mine in South Africa has launched an enterprise and supplier development and procurement support programme and has capitalised two funds to provide financing to SME's.

All business partners are also included in Gold Fields' health and safety management systems and are continuously engaged on issues relating to respectful workplaces and gender safety.

For more details see Gold Fields 2022 Report to Stakeholders at: www.goldfields.com/pdf/investors/integrated-annual-reports/2022/gold-fields-report-to-stakeholders-2022.pdf.

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