Gold Fields Annual Report 2021

Plain-text annual report

Creating enduring value beyond mining GOLD FIELDS CLIMATE CHANGE REPORT 2021 Aligned with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) COVER PHOTO The solar plant at our Granny Smith mine, Western Australia. Contents INTRODUCTION AND LEADERSHIP About this report Climate change targets and highlights Climate change leadership and advocacy Chief Executive Officer's statement SHSD Chairperson’s statement Governance and management Gold Fields’ climate-related policy statements and commitments OUR NET-ZERO COMMITMENTS Our decarbonisation journey Climate change and decarbonisation strategy Renewable energy Climate change risks and opportunities Unpacking transitionary risks PERFORMANCE AND PROGRESS Energy and carbon management Water stewardship Tailings management CLIMATE CHANGE RISK AND VULNERABILITY Chile Peru Australia South Africa Ghana STATISTICS AND ASSURANCE Regional and Group energy and carbon performance Gold Fields’ carbon footprint TCFD Index External assurance statement Glossary, administration and corporate information The non-ﬁnancial statistics in this report are contained in the sustainability performance data spreadsheets on our website at: www.goldﬁelds.com/sustainability-data.php 2 3 3 4 4 5 6 – 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 About this report This is our fourth Climate Change report produced in alignment with the recommendations of the Financial Stability Board’s Task Force guidelines on Climate-related Financial Disclosures (TCFD). This report forms part of the 2021 Gold Fields suite of reports and speciﬁcally the 2021 Integrated Annual Report. Gold Fields formally started on its climate change, energy and water journey in 2016, but have reported on our climate change performance since 2010 when we ﬁrst made an annual submission to the CDP. Since 2018 we have used the TCFD to report on our climate change and related performances, strategies, risk and opportunities. The TCFD provides companies with a best practice international framework against which to voluntarily report their climate-related information. The scope of our climate-related performance and data covers our eight managed mines (including 100% of Gruyere, but excludes our Asanko Gold JV, since it is a non-managed asset). We provide information about the progress made at our Salares Norte project, but do not include data from the project. FOR MORE INFORMATION: Please consult the following reports INTEGRATED ANNUAL REPORT Our primary report to stakeholders, detailing the Group’s value creation story over short, medium and long term. REPORT TO STAKEHOLDERS A high-level outline of our contributions to our key stakeholders, as well as recent developments impacting these relationships. GRI CONTENT INDEX The IAR is compiled to comply with the GRI Standards: Core option. The GRI Content Index also cross-references to the ICMM Principles, UNGC Principles, UN SDGs and the Sustainability Accounting Standards Board (SASB), since amalgamated under the Value Reporting Foundation. Our online IAR portal, which can be accessed at www.goldﬁelds.com/integrated-annual-reports.php GOLD FIELDS GROUP 2.34Moz attributable gold-eq production (2.46Moz managed gold-eq production) 13.9PJ energy consumption 5.66GJ/oz energy intensity 4.3% renewable electricity (excluding hydro) 1.71Mt CO2e GHG (Scope 1 – 2) emissions 306kt CO2e GHG emissions avoided 0.70t CO2e/oz emission intensity 9.44GL freshwater withdrawn 75% water recycled/ reused AMERICAS REGION AUSTRALIA REGION SOUTH AFRICA REGION WEST AFRICA REGION Mines: Cerro Corona Project: Salares Norte 248koz managed gold production 1.23PJ energy consumption 4.94GJ/oz energy intensity 100% renewable electricity 79kt CO2e GHG (scope 1 – 2) emissions 1.21kt CO2e emissions abated 0.32t CO2e/oz emissions intensity 3.7GL freshwater withdrawal 84% water recycled/reused Mines: St Ives, Granny Smith, Agnew and Gruyere (JV) 1.14Moz managed gold production 5.21PJ energy consumption 4.56GJ/oz energy intensity 10% renewable electricity 531kt CO2e GHG (scope 1 – 2) emissions 90.3kt CO2e emissions abated 0.46t CO2e/oz emissions intensity 0.7GL freshwater withdrawal 37% water recycled/reused Mines: South Deep 293koz managed gold production 1.78PJ energy consumption 6.09GJ/oz energy intensity 0% renewable electricity 502kt CO2e GHG (scope 1 – 2) emissions 42.6kt CO2e emissions abated 1.71t CO2e/oz emissions intensity 1.6GL freshwater withdrawal 80% water recycled/reused Mines: Tarkwa and Damang 776koz managed gold production 5.69PJ energy consumption 7.32GJ/oz energy intensity 0% renewable electricity 603kt CO2e GHG (scope 1 – 2) emissions 172kt CO2e emissions abated 0.78t CO2e/oz emissions intensity 3.4GL freshwater withdrawal 88% water recycled/reused Gold Fields Climate Change Report 2021 CCR 2 Climate change targets and highlights Gold Fields’ purpose is to create enduring value beyond mining and we are guided by our three strategic pillars to achieve this purpose. Our climate change strategy is guided by Pillar 2, namely, to build on our leading commitments to ESG. During 2021, Gold Fields launched 2030 targets for its six ESG priority areas; three of these priorities are directly impacted by climate change, with the remaining indirectly affected. The diagram below sets out the ESG priorities directly affected by climate change, their respective targets and 2021 highlights. ESG priorities 2030 targets Description 2021 targets 2021 highlights Introduction and Leadership x a M T c P m S R T S gh u ro h t r e n t assets r u n o v a tion I L L AR 1 potentialfr o people & i n ATEGIC imise Our Purpose Why we exist Creating enduring value beyond mining GICPILLA R 3 value&qualit y o f ortfolioofassets t h u r E T e p A o r o R w T S G R A T G I C P I L L A R 2 E t t n m e n t t o E S G o u r l e a d in g 1 DECARBONISATION c B o u m i l d m i o 50% 30% 80% 45% STEWARDSHIP 2 WATER 33 TAILINGS MANAGEMENT 50% absolute scope 1 and 2 emissions reductions by 2030 against 2016 baseline • 18% – Achieve 287kt CO2e emissions reduction from projects in 2021 business plans 30% net scope 1 and 2 emissions reductions by 2030 against 2016 baseline Net zero emissions by 2050 • 5% – 657TJ reduction through energy savings initiatives from 2021 business plan • Initiate the South Deep solar plant for completion in 2022 • Achieved all three 2021 targets • Energy provider Kallpa certifies 100% hydroelectricity as clean energy for Cerro Corona • 7.1% TJ reduction through energy savings initiatives (1,208TJ) • 22% carbon emissions reduction from energy savings initiatives • 5.66GJ/oz energy intensity (2020: 5.64GJ/oz) • 0.70t CO2e/oz GHG emission intensity (2020: 0.69t CO2e/oz) • Cerro Corona, Tarkwa and Damang ISO 50001 certified. South Deep and Australian sites successfully implemented their energy management systems with audits for ISO 50001 certification planned for 2022 80% water recycled/reused • 68% – recycle/reuse 68% of water 45% reduction in freshwater use from 2018 baseline use for Group • 3% – Reduce 477ML in freshwater intake from projected 2021 fresh Group water demand as per business plan from 13.3GL to 12.9GL GISTM conformance Conformance with Global Industry Standard on Tailings Management (GISTM) by 2023 and 2025 3 Reduce number of active upstream raised TSFs from five to three • Three new renewable energy projects: – Gruyere 12MW microgrid by Q2 2022 – South Deep 50MW solar plant by H2 2022 – Salares Norte solar plant by Q1 2023 • 75% water recycled/reused on track to meet 2030 target • 35% reduction in freshwater intake against 2018 baseline • GISTM assessment on track • Made required appointments to key technical positions • Allocated US$325m towards achieving 2030 targets Climate change leadership and advocacy 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. ZERO EMISSION ENERGY FULLY ELECTRIC FLEET PEOPLE AND COMMUNITY Electric Mine Consortium Working collaboratively towards a zero-emission and zero-particulate mine, through: 1. Resolving key technology choices 2. Shaping the supplier ecosystem 3. Inﬂuencing policy 4. Communicating the business case. Gold Fields/Energy Vault proposed energy storage trial The trial is intended to be run as a pilot project at the existing high penetration wind and solar power plant at our Agnew mine. The Energy Vault EVxTM energy storage solution is a gravity battery, using blocks made from the onsite tailings' facility. The efficiency of the battery is near to that of lithium batteries (~80%), with no degradation and a 30-year design life, which makes it an ideal low-cost and efficient mine storage solution. It is expected that a pilot of this scale would increase Agnew’s renewable energy fraction by approximately two percentage points from current average daily level of 57%. We participate in the Austmine Charge On innovation challenge, to provide scalable and interoperable electriﬁcation of 220 tonne haul trucks, without impacting the haul cycle time. Gold Fields, as an active member of the ICMM, participates in many of its working groups, including biodiversity, mine closure, tailings, water and climate change. We also actively participate in the Cleaner Safer Vehicles CEO-led initiative to achieve the following: • GHG emissions-free surface mining vehicles by 2040 • Minimise the operational impact of diesel exhaust by 2025 • Make vehicle collision avoidance technology available by 2025. Gold Fields Climate Change Report 2021 CCR 3 Chief executive officer’s statement “We have a long way to go, but I am conﬁdent that, based on our track record and the commitment of our people, we will be able to meet the climate change challenge.” Chris Griffith In December 2021, Gold Fields announced a new strategy comprising three strategic pillars to guide the Company for the next decade. Strategic Pillar 2 commits the Company to build on its leading commitment to environmental, social and governance (ESG) issues. Nowhere is this ‘’leading commitment’’ more evident than in Gold Fields’ investment in decarbonising its operations. We are a leading mining company in addressing our impact on the changing climate through the use of renewable and low-carbon energy sources. However, we still have a long way to go. We are acutely aware of the severity of climate-related risks, as well as societal expectations that companies should play their part in reducing emissions. Equally, the impacts of climate change on our operations and surrounding communities are real and immediate. Climate change is affecting our operations through the physical impacts that more severe storms, longer droughts and rising temperatures have on our mines, employees and host communities. Furthermore, governments are also increasing efforts to regulate carbon emissions in most of the jurisdictions in which we operate, often by imposing taxes on non-renewable energy consumption. As such, our stakeholders expect us not only to take concrete actions to limit our emissions and also ask us to report comprehensively on the impact of climate change on our operations with a particular focus on our energy, water and tailings management. In all these areas climate change has a material impact on how we run our operations. This, our fourth Climate Change Report seeks to provide a comprehensive overview of the risks and opportunities we are facing, how we seek to mitigate them, our performance to date and the targets we have committed to meet. The November 2021 COP26 held in Glasgow, Scotland, and the most recent Intergovernmental Panel on Climate Change (IPCC) reports have highlighted a clear message from the scientiﬁc community: The world is not on track to meet the targets of limiting temperature rises to 1.5°C – 2°C by 2050, the minimum needed to prevent serious climate impacts. All stakeholders – governments, the corporate sector and civil society – need to take drastic action. One of the few encouraging developments to emerge from COP26 was the mobilisation of more than 5,200 businesses and about 450 ﬁnancial institutions committed to science-based net-zero targets and increased public-private collaborations to deal with climate change. Gold Fields is committed to playing our role. We announced a comprehensive set of 2030 targets for our most material ESG priorities in December 2021, headlined by our commitment to decarbonisation in three key targets: • Reducing our scope 1 and 2 carbon emissions by 30% by 2030 from a 2016 baseline • Taking cognisance of the fact that we plan to raise our production proﬁle over the same period, this amount to actually targeting 50% emissions reductions by 2030 • Net-zero carbon emissions by 2050 in line with the Paris Agreement Introduction and Leadership SHSD Committee chairperson’s statement These targets are currently being embedded in our operations and we are planning on spending hundreds of millions of dollars to achieve them. Our management teams are being held accountable to ensure that we are implementing the right electricity solutions, continuing our energy savings initiatives and trialling new ore transportation technologies to enable us to achieve those targets. 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. Rolling out renewable energy, fuel switching and energy efficiency projects has already contributed to emissions savings of 18% between 2016 and 2021 at Group level. The contribution of renewables to the Group electricity mix increased from 0% to 4.3% over the same period. This is largely due to the two completed renewable micro-grids at Granny Smith and Agnew in Western Australia, with the latter receiving, on average, 57% of its electricity requirements from green energy sources, one of the highest at a gold mine anywhere in the world South Deep and Gruyere are set to launch their solar plants this year and Salares Norte in early 2024, while all our other mines are examining ways of minimising their dependence on fossil fuels to power the operations. The mines are also working out how to reduce their emissions further still. Beyond renewable energy, we are also looking at reducing emissions from our ﬂeet of diesel-powered vehicles and machines to achieve our targets by trialling and eventually rolling out zero-emission vehicles. Scope 3 emissions are also now in focus and we will set targets for these emissions in 2023. We have a long way to go, but I am conﬁdent that, based on our track record and the commitment of our people, we will be able to meet the challenges that we will inevitably confront as we transition steadily to net zero. As a Board we have a critical role to play in ensuring that the Company we govern plays its role in addressing the deﬁning challenges societies are facing. At present, the two ESG priorities that have headlined these challenges are gender diversity and climate change. It is the responsibility of the Safety, Health and Sustainable Development (SHSD) Committee of the Board to ensure that Gold Fields plays its role in addressing the climate change threat. As it is, physical climate changes are already being felt across the globe and impacting our communities and our operations. I assumed the role of Chair of the SHSD Committee in 2016, when Gold Fields commenced its climate change journey in earnest. The Board ﬁrst approved a Climate Change Policy Statement for the Company in 2017, updating it in 2020, which committed the Company to identify and assess climate-related risks and opportunities; report and disclose its performance; raise the share of renewable energy; and implement energy and water efficiency initiatives. Since then, I have witnessed this policy statement translated into action, with Gold Fields introducing operational changes that have seen the Company recognised as a decarbonisation leader in the mining sector. It has done so primarily via its signiﬁcant investment in renewable electricity and energy savings initiatives, which have had the added beneﬁt of ensuring supply security and more affordable energy for our mines. Last year, Gold Fields took another step on its climate change journey by making a number of commitments to reducing its net Scope 1 and 2 carbon emissions: by 30% against its 2016 baseline by 2030 and to net zero by 2050. Once again, the Board was integrally involved by providing input into the targets and, ultimately, approving them. Terence Goodlace In making its operational changes and its decarbonisation commitments, Gold Fields has not only the welfare of its operations in mind, but also that of our host communities. In the past year we updated our climate change risk and vulnerability assessments across all our mines, where the focus was on assessing the impact on our operations and communities. The Board will ensure that, in applying the learnings from these assessments, we take account of the needs of our employees, host communities and, of course, our business. Gold Fields has to date chosen the right path in mitigating its impact on the changing climate. I have every conﬁdence that its people will continue doing so even as the threat of climate change becomes ever more pressing. Gold Fields Climate Change Report 2021 CCR 4 Governance and management 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. RESPONSIBILITIES KEY OUTCOMES Introduction and Leadership Board The Board is accountable and ultimately responsible for the oversight over climate-related strategy, implementation, resilience, risks and opportunities • Approval of South Deep solar plant capacity extension from 40MW to 50MW • Climate change training received • Approval of 2030 decarbonisation targets and net zero by 2050 SHSD – Primary Board sub-committee overseeing climate-related strategy and implementation, SHSD strategies, Board Committees policies and performance – Stakeholder relations, socio-economic development, human rights, ethics, security – Enterprise risk management, including ESG risks SET Risk Capital – Climate-related capital projects • ESG Charter and targets, especially decarbonisation • Continued implementation of renewable projects, specifically South Deep project • ESG benchmarking Chief Executive Officer (CEO) Executive Climate Change Steering Committee The CEO is responsible to lead his executive and management teams to draft and implement the Company’s Board-approved climate change strategy, including relevant policies and projects The CEO sets the tone and a climate-conscious culture Climate-related remuneration: Balanced score card comprises 20% incentives related to ESG, of which approximately one-third is linked to climate change and decarbonisation performance • 2030 ESG targets launch and implementation • Climate change sector leadership • International Council on Mining and Metals (ICMM) – participation in Cleaner, Safer Vehicles initiative • Rejoined the World Gold Council (WGC) Composition and responsibilities: Executives responsible for investor engagement and reporting; finance; decarbonisation, climate support, scope 3 emission planning and offsets and climate risk and adaptation Integrated and systemic approach to addressing multifaceted impacts of climate change on company, supply chain and stakeholders • Decarbonisation priority as part of ESG 2030 targets • Approximately 6% of balanced score card allocated to decarbonisation • Comprehensive decarbonisation strategy with targets and implementation plan Sustainable development department Provides a multi-disciplinary specialist function, comprising sustainable development, ESG reporting and assurance, climate change, carbon and energy, water, stakeholder engagement, environmental management, tailings management • Incorporation of ESG into business strategy • Decarbonisation strategy • Second climate change risk and vulnerability assessments for all regions Working Committees – develop ESG strategy for Board approval ESG Water – continuous development and implementation of the water stewardship strategy Energy – continuous development and implementation of the energy and carbon strategy, including decarbonisation strategy • Board approved ESG Charter, with 2030 targets • Regional water management plans, including targets • Regional 2030 energy and carbon plans, including targets Gold Fields Climate Change Report 2021 CCR 5 Gold Fields’ climate-related policy statements and commitments Through our membership of associations such as the International Council on Mining & Metals (ICMM), we have embedded international good practice to address climate-related risks and opportunities throughout its business and operations. The tables below set out our commitments through ICMM, as contained in its most recent Position Statements on Climate Change, Water Stewardship and Tailings Governance, the relevant Gold Fields’ Policy statements and commitments, as well as what we are doing to meet these commitments. Assurance of Gold Fields’ self-assessments of our implementation of the ICMM Performance Expectations* has been conducted by an independent third party, a summary of which is available in the 2021 Integrated Annual Report. * The ICMM Performance Expectations are a comprehensive set of requirements setting out the expectations of how ICMM members manage a comprehensive array of ESG issues at corporate and operational levels. Introduction and Leadership ICMM COMMITMENTS GOLD FIELDS POLICY STATEMENTS AND COMMITMENTS KEY IMPLEMENTATION ACTIONS Scope 1 and 2 emission targets: Net zero by 2050 • Set objectives and targets for carbon emissions reductions, energy savings, energy diversiﬁcation and water management • Board approved 2030 targets: – 50% absolute emissions reductions and – 30% net emissions reductions from 2016 base year – Net zero by 2050 • Decarbonisation strategy, including projects and capital commitments CLIMATE CHANGE Applicable SDGs: 7 13 AFFORDABLE AND CLEAN ENERGY CLIMATE ACTION • Committed to address scope 3 emissions as part of decarbonisation strategy • A target for scope 3 emission reduction is to be developed by 2023 • Legal and other compliance • The targets cover scope 1, 2, and 3 carbon emissions • Set objectives and targets for carbon emissions reductions, energy savings, energy diversiﬁcation and water management • Targets include 50% absolute emissions and 30% net emission reductions by 2030 from the 2016 base year • Paris Agreement-aligned targets towards a 1.5 °C future • Decarbonisation strategy towards a 1.5 °C future Scope 3 emissions: Targets, leadership, partnership Targets cover all material sources of emissions Absolute reductions Robust target-setting methodologies Disclose assumptions Integrate climate change in decision-making • Continual improvement of climate change preparedness, performance and public disclosure Adaptation and mitigation • Regional climate change strategies, including mitigation and adaptation plan • Decarbonisation is one of the six priorities in our ESG Charter • ESG is one of our three Strategic Pillars • Decarbonisation integrated into the strategy, business planning processes and capital programmes • Second round of regional climate change risk and vulnerability assessments conducted • Decarbonisation strategy includes mitigation plans to reach targets Supporting community resilience • Seeking collaboration with host communities towards climate change policies • Ghana, South Africa and Peru involved in community water provision and educational projects Transparent disclosure Scope 1 – 3 External veriﬁcation TCFD-alignment Engagement • Public reporting of GHG emissions footprint and climate-related risks and opportunities • Mature scope 1 – 3 emissions reporting • External independent assurance • TCFD-aligned climate change report • Collaboration with host communities, governments, peers, investors, NGOs, and business partners • Active member of the ICMM, rejoined the WGC • Engagement with peers and original equipment manufacturers, e.g. Australian Electric Mine Consortium Innovation and technology • Support research, innovation and technology development • Renewable, low-carbon energy solutions; energy efficiency initiatives, including carbon offsets • Participate in technology working group of the ICMM's Innovation for CSV programme • Decarbonisation strategy underpinned by innovation and technology Carbon pricing • Transparent carbon pricing mechanisms, including CO2e shadow price in all new and life extension projects • Granny Smith gas power plant earns annual carbon credits from the Australian Emissions Reduction Fund, with carbon credits auctioned for the ﬁfth year, used as shadow price in Australia region Gold Fields Climate Change Report 2021 CCR 6 Gold Fields’ climate-related policy statements and commitments continued Introduction and Leadership ICMM COMMITMENTS GOLD FIELDS POLICY STATEMENTS AND COMMITMENTS KEY IMPLEMENTATION ACTIONS WATER STEWARDSHIP Applicable SDGs: 6 12 CLEAN WATER AND SANITATION RESPONSIBLE CONSUMPTION Corporate water governance • Approach • Responsibilities and accountabilities • Integrate water into business planning • Public reporting Effective water management • Water balance • Targets and objectives • Water quantity and quality management • Access to clean drinking water and sanitation facilities for all employees Collaboration for sustainable water use • Catchment-level risks and opportunities • Engage stakeholders on external water governance • Water stewardship initiatives • Legal, regulatory, and voluntary compliance • Corporate water governance: – Responsibilities and accountabilities – Integrate water into business planning – Public reporting • Effective water management: – Social and environmental risk management – Efficient water utilisation solutions – Employee awareness and training – Context-relevant water performance targets • Security of operational water supply for all catchment users including the natural environment • Access to clean drinking water, gender-appropriate sanitation facilities and workplace hygiene • Collaboration: – Proactive engagement with stakeholders, including host communities – Support water stewardship initiatives • Regular updating of risks, including climate-related for operations • 2020 – 2025 Group water stewardship strategy, as well as regional water strategies and three-year management plans • Strategy comprises three pillars: – Security of supply – Water efficiency – Catchment management • ISO 14000 certiﬁcation of all mines • Freshwater withdrawal reduction and increased recycling/reuse targets • Water planning embedded into core operational management • Water risk aligned with resourcing over life-of-mine, including water balances • All employees have access to clean drinking water, gender-appropriate sanitation facilities and hygiene at the workplace • Context-speciﬁc catchment stakeholder engagement • South Deep is collaborating with a neighbouring mine to restore the Leeuspruit river TAILINGS MANAGEMENT Applicable SDGs: 9 6 6 INDUSTRY, CLEAN WATER CLEAN WATER INNOVATION AND AND SANITATION AND SANITATION AND SANITATION INFRASTRUCTURE 12 RESPONSIBLE CONSUMPTION Implement practices of the six elements of the Tailings Governance Framework: • Zero harm to people and the environment • Zero tolerance for human fatalities 1. Accountability, responsibility and competency 2. Planning and resourcing • Uphold Gold Fields vision and values • Accountabilities and responsibilities deﬁned • Key appointments made • Legal and other compliance • Adequate resources, including human and ﬁnancial • Collaborate in innovative approaches throughout the life cycle of TSFs, through research and industry initiatives 3. Risk management • TSFs are adequately and legally maintained, closed and rehabilitated in a safe and stable state • Critical control management 4. Change management • Meaningful stakeholder engagement on all key aspects throughout the TSF life cycle 5. Emergency preparedness and response • Emergency preparedness and response planning, including community engagement • Adequate resources available for recovery efforts 6. Review and assurance • Open and transparent tailings management practices, including public disclosure Climate change risks (and opportunities) are addressed thoroughly across the ICMM Position Statement and the Global Industry Standard on Tailings Management, as well as Gold Fields’ internal standards and procedures. They include scoping and design, risk management, water management, stormwater management, rehabilitation, closure and post-closure management. In addition, reporting may be found in our Integrated Annual Report, and in a dedicated section of our website: https://www.goldﬁelds.com/environment-tsf.php. Gold Fields Climate Change Report 2021 CCR 7 Our decarbonisation journey WHERE HAVE WE COME FROM? ➧ Our net-zero commitments WHERE ARE WE GOING? ➧ 2011 2015 2016 2020 2021 FOUNDATION IMPLEMENTATION ESG 2030 TARGET DEVELOPMENT 2022 OPERATIONAL INTEGRATION 2030 1 Ensure investor ESG conﬁdence and reputation protection 2 Vision: “To be the global leader in sustainable gold mining” • ICMM membership • Regulatory and voluntary sustainability framework requirements adherence • First Integrated Annual Report published • CDP reporting (carbon) of emissions and performance • Developed a Group integrated energy and carbon management strategy • Implemented energy efficiency initiatives • Reactive water management T X E T N O C G S E C I F I C E P S E G N A H C E T A M I L C 4 Protect licence to operate and strengthen ESG reputation ESG risk identification and mitigation: - Social licence to operate - Energy security - Water security - Safety and health • ICMM Mining Principles compliance • CDP reporting (climate and water) • TCFD-aligned Climate Change Report • Group climate change policy approved and updated • Group water stewardship policy approved • Group TSF policy approved • Regional climate risk and vulnerability assessments • Group and regional water stewardship strategies being developed 3 ESG 2030 targets 2021 Board concept approval for ESG targets, including decarbonisaiton. Work carried out during the year: • Regional plans to achieve 30% net emission reductions by 2030 • Conceptual decarbonisation strategy • Board decarbonisation training • 2016 baseline validation and target verification • Capital allocation 1 December 2021 2030 science-based targets launched for six ESG priorities, headlined by decarbonisation 2022 Commence operational implementation of 2030 ESG target strategies 2023 Programme deployment via project management platform and change management Create enduring value beyond mining New vision: “To be the preferred gold mining company delivering sustainable superior value” • Shift from compliance to sustainable value delivery to all stakeholders • ESG Charter, underpinned by six interconnected key priorities, with strategic intents and targets • Decarbonisation strategy in line with a 1.5 °C future with 2030 targets, including net zero by 2050, projects and capital budgets and including science-based targets validation by SBTi • Creation of Executive Climate Change Steering Committee guiding development and implementation of decarbonisation strategy • Develop targets for scope 3 emission reduction by 2023 • Updated regional risk and vulnerability assessments • Embedding water stewardship into operational mine plans • Working towards full conformance of the GISTM by 2023 and 2025 respectively Gold Fields Climate Change Report 2021 CCR 8 Climate change and decarbonisation strategy CORE INITIATIVES TO ACHIEVE NET 30% REDUCTION BY 2030 A 30% by 2030 reduction is only possible with multiple stretch initiatives, some of them using technologies that are still being developed, to offset the anticipated growth to 2.8Moz in production and associated emissions Stretch opportunities to ﬁll gap • South Deep, 100% green electricity: • Gruyere, 78% green electricity: • Source clean power for Damang: • Source clean power for Tarkwa through grid: 306kt 88kt 112kt 42kt Total 548kt Our net-zero commitments Gold Fields’ GHG emissions proﬁle, 2030 – impact of “core” initiatives kt CO2e -35% 2,395 31 759 264 120 702 1,693 13 482 1,198 1,605 55 9 28 28 23 23 49 48 33 73 78 1,564 31 629 379 Renewables, Electricity replacement 550kt Electric Fleet, Diesel replacement 130kt Efficiency, 151kt 904 831kt -51% 31 629 525 2016 Actual Growth (2.8m oz p.a.) 2030 Forecast South Deep (45%) St Ives (95%) Salares Norte (79%) Cerro Corona (35%) Agnew (73%) Gruyere (73%) Granny Smith (35%) South Deep Storage Australia West Africa Americas West Africa – CCGTs at Tarkwa All sites – other efficiency 2030 Potential Gap* Target ■ Others ■ Diesel ■ Electricity (% renewables of total electricity supply) (17% diesel replacement) CONCEPTUAL PATHWAY TO NET ZERO 2030 – 2050 TARGET 100% CLEAN ELECTRICITY (~2/3rd of current scope 1 + 2 emissions) CONCEPTUAL PATHWAY TO NET ZERO: 2022 – 2050 Our December 2021 announcement of an ambitious 2030 carbon emissions reduction target and reaffirming our commitment to net zero emissions by 2050, heralded the next stage in our decarbonisation journey. We use 2016 as a base year, as this is when Phase 1 of this journey commenced and we started developing a wide-ranging climate change and energy strategy, programmes and targets. We are measuring our performance against our target of a 30% reduction of scope 1 and 2 emissions by 2030, which amounts to an effective target of approximately 50% when projected 30% gold production growth to 2.8Moz is taken into account. To date – between 2016-2021 – our emissions increased 1% against the 2016 baseline, despite mining 9% more tonnes and producing 11% more gold. Our 2021 emissions were 18% lower than they would have been in the absence of energy savings initiatives and the renewable microgrids installed at Agnew and Granny Smith in Western Australia. The top adjacent table outlines how we plan to achieve our 2030 targets. In terms of our net 30% reduction target we will have to reduce our emissions to just under 1.2Mt CO2e from the 1.7Mt CO2e in 2016. At the same time we plan to increase gold production to around 2.8Moz a year during the second half of the decade – this would push up emissions to an estimated 2.4Mt CO2e by 2030 if we did not undertake the aggressive programme we have outlined. How do we get there? Firstly, we had a look at our emissions proﬁle – approximately two-thirds of our emissions are linked to our electricity usage, with South Deep by far the highest emitter in the company. The remaining third of our emissions is linked to diesel emissions by our ﬂeet of mining vehicles. If we increase emissions in line with our production forecast, we foresee that the electricity/diesel split remains the same. For the next few years, therefore, our focus will be on replacing our gas and coal-ﬁred electricity with renewables, as highlighted in the turquoise section of the graph. This shows how much of each mine’s electricity is intended to be derived from renewables by 2030. Our diesel reduction efforts will initially be focused on introducing zero emission vehicles at our mines. We are currently carrying out internal trials, as well as working with peers in ICMM and the Electric Mine Consortium to develop cleaner, safer vehicles. But we are at an early stage and a meaningful impact is still a few years away. A third emissions reduction component will be from continuing to improve energy efficiencies at our operations, with a switch from open to closed cycle gas turbines at Tarkwa mine providing a signiﬁcant kicker. As the graph shows, our current planned projects will not be enough, and we have identiﬁed several stretch opportunities to ﬁll the gaps – such as those displayed in the beige box in the graphic. • Target 100% green plus export opportunities • Green hydrogen or long duration • Leverage disruptive technologies, but not required to achieve 100% The nine key initiatives outlined in the graph will be the focus of our decarbonisation work from now until 2030. Target >70% green Wind, solar, batteries New storage technologies Target ~20% diesel elimination Electric material movement Biodiesel; hydrogen fuel cells Energy efficiency initiatives 1 2 3 4 5 6 7 8 9 TARGET 100% ELECTRIFICATION OF DIESEL EQUIPMENT (~1/3rd of current scope 1 + 2 emissions) • • Electric underground mine • For open pit – rail, green hydrogen, large EVs • Heavily automated, driverless, new mine designs • Target 100% diesel elimination • Leverage disruptive technologies Explore/invest in offset options and natural climate solutions • Carbon offsets to mitigate liabilities • Verified and assured carbon offsets 2023: Methodology and targets for scope 3 emission reduction to be developed • Site-specific natural climate solutions, verifiable and assured • Site-specific natural climate solutions • Eliminate scope 3 emissions CARBON OFFSETS AND NATURAL CLIMATE SOLUTIONS 2021 2030 2035 2040 2045 2050 Gold Fields Climate Change Report 2021 CCR 9 Looking beyond 2030 to the net zero target by 2050, the picture is less clear, but we know the high-level initiatives needed to take us there and these are depicted in the bottom graphic. By 2050, all the electricity used by our mines will be clean electricity, with 70% of that target to be achieved by 2030. For diesel consumption, our high-level target is to eliminate 20% in the ﬁrst 10 years and then accelerate this programme until 100% elimination is achieved by 2050. Carbon offset programmes are a last resort if we fall short. We will also have to tackle scope 3 emissions, those from our supplier and upstream base, as our targets are currently limited to scope 1 and 2 emissions. Over the next two years we will be working with our peers in the ICMM and with our suppliers to look at ways of reducing these emissions and will announce our ﬁrst scope 3 targets before the end of 2023, in line with ICMM timelines. Gold Fields has been measuring and reporting its scope 3 emissions since 2008 and is aligned with the rest of the gold industry: research by the World Gold Council has found that upstream scope 3 emissions account for approximately 20% of the industry’s total emissions. During 2024, Gold Fields' scope 3 emissions accounted for 23% of our total emissions. On the plus side we also know that compared to other metals and minerals gold has a relatively low carbon footprint, though that does not absolve us from our responsibility towards minimising our impact as best as we can. Our net-zero commitments Renewable energy The decarbonisation strategy includes a signiﬁcant lever: green energy. In all, 75% of the 2030 target will be reached through renewable energy use and storage. Gold Fields’ emission reduction drive started in 2016 with over US$420m investments in renewable energy projects by 2021 (GFL US$100m; Independent Power Producers (IPPs) via power purchasing agreements (PPAs) US$320m). This has resulted in 18% absolute net group emission reductions to date. Renewables now account for 4.3% of the Group's electricity mix (excluding hydro) in 2021 (2016: <1%) rising by 14% by 2025. If hydroelectricity from Cerro Corona is included, renewables currently account for 12.5% of our electricity mix, improving to approximately 22% by 2025. AUSTRALIA – Agnew Completed 2021 AUSTRALIA – Granny Smith Completed 2020 AUSTRALIA – Gruyere Expected commissioning Q2 2022 • IPP: EDL • 18MW wind, 4MW solar, 13MW/4MWh battery storage, 18MW gas, 3MW diesel • 50% – 60% renewable energy fraction, up to 85% during ideal conditions • 42% net mine emissions reduction • Total cost: US$80m (IPP: US$58m; ARENA: US$10m) • First large-scale Australian microgrid to incorporate wind turbines • Planned 73% renewable energy by 2030 • IPP: Aggreko • 8MW solar, 2MW/1MWh battery storage, 35MW gas, 5MW diesel • 9% renewable energy fraction (electricity) • 7% net mine emissions reduction • Total cost: US$28m (IPP: US$26m) • Planned 35% renewable energy by 2030, comprising 28MW wind, 18MW/9MWh battery storage • IPP: APA • 12MW solar, 4.4 MW/4.4MWh battery storage, 53MW gas, 3MW diesel • 10% renewable energy fraction (electricity) • 7% net mine emissions reduction • Total cost: US$20m (IPP: US$20m (renewables only)) • Plan to achieve 25% renewable energy by 2030, increasing by 20MW solar AUSTRALIA – St Ives • Existing power purchase agreement in place until end 2023, with electricity supply of 100% natural gas • Feasibility study for a standalone power solution underway • Planned 75% – 85% renewable energy by 2025, which will comprise wind, solar, diesel back-up and battery storage GHANA – Tarkwa • IPP: Genser Energy • Installed turbines and infrastructure • Generator upgrade in 2025 • Gas transition from diesel to LPG (2016) to natural gas (2020) • Gas transport via pipeline GHANA – Damang • IPP: Genser Energy • Installed turbines and infrastructure • Generator upgrade in 2026 • Gas transition from diesel to LPG (2016) to natural gas (2020) • Gas transport via pipeline SOUTH AFRICA – South Deep Expected commissioning H2 2022 CHILE – Salares Norte project Expected commissioning Q1 2024 • IPP: Aggreko • 27MW diesel, solar microgrid of which solar to provide 10MW • Total cost: US$19m (IPP: US$13m) • Planned 79% renewables comprising 20MW solar, 10MW wind and storage by 2030 • 50MW solar plant (previously 40MW) • To provide 24% of mine’s electricity • R123m/year saving • 109kt net emissions reduction per year • Total cost: R715m (US$45m) (previously R660m) • Ambition is to achieve 45% renewable energy with storage capacity • 50MW solar will save ~ 167 000kl of water consumed by Eskom • Successfully relocated protected plant species during construction Gold Fields Climate Change Report 2021 CCR 10 PERU – Cerro Corona • Energy provider Kallpa's 100% hydroelectricity is certiﬁed as clean energy by the International REC Standard. As such, 100% of the mine's electricity is classiﬁed as renewable • Planned additional renewable energy sources by 2030 • 6MW bought from the grid Climate change risks and opportunities CLIMATE CHANGE-RELATED RISKS The World Economic Forum’s 2022 Global Risk Report identiﬁes climate action failure, extreme weather and biodiversity loss as one of the top three most severe risks on a global scale over the next 10 years. Human environmental damage and natural resource crises are seventh and eighth respectively. The WEF Report warns of a systemic risk of exacerbated global inequalities as a result of a disorderly climate transition. No sector, business, person or region will be able to avoid the impacts of climate change. Gold Fields has incorporated climate-related risks and opportunities into our enterprise risk management and strategy processes at Group and regional levels. Each region conducted its second ﬁve-yearly climate change risk and vulnerability assessments during 2021, with the Salares Norte project conducting its ﬁrst assessment. Focused climate change risk and vulnerability assessments have been initiated for the Group’s tailings storage facilities (TSFs) and water infrastructure as well. National and international climate-related regulatory and legislative requirements are reviewed continually to ensure that associated risks are managed and potential opportunities leveraged. Our net-zero commitments GOLD FIELDS’ 2021 CLIMATE-RELATED TOP STRATEGIC GROUP RISKS Rating Group risks Context Mitigating actions Opportunities 8 (2020: 9) Failure to implement climate change adaptation measures Stakeholders are increasing expectations of climate change leadership through, inter alia, robust climate change adaptation. We are already experiencing extreme weather events. Climate-related policy, legislation and regulations are becoming more stringent to reﬂect the increased country ambitions pledged at COP26 and thereafter. Gold Fields is actively implementing measures to increase our resilience to climate change impacts. These include regional climate change risk and vulnerability assessments, with adaptation and mitigation plans monitored quarterly, as well as collaboration initiatives with peers and industry associations. Natural climate solutions can assist us in reaching net zero, contribute to biodiversity and enhance social and regulatory licences to operate. 12 (2020: 13) Water security 15 (new) ESG: Stakeholder expectations Water security for both Gold Fields and other water catchment users is affected by water pollution, freshwater use and water recycling/reuse. The majority of our regions are water scarce, while Ghana must deal with excess water, especially during ﬂoods and storms. The Gold Fields 2020 – 2025 water stewardship strategy, aligned to ICMM good practice, is implemented through three-year regional water management plans. ISO 14001 certiﬁcation at all operations ensures sound water stewardship governance. The incorporation of ESG into business strategy and practice is rapidly gaining traction amid increased investor expectations. Hollow “feel-good” ESG corporate statements and unsubstantiated targets are being called out as greenwashing and could impact reputation. Purposeful ESG integration requires capital and expertise skill sets. The ESG Charter, with six priorities and clear and measurable targets, based on international best practice, is being implemented. The ﬁrst part of the decarbonisation strategy to achieve 30% net emission reductions by 2030, dealing with scope 1 and 2 emissions, has been developed, with scope 3 emissions targets and actions to follow by 2023. The ambitious decarbonisation strategy includes renewable energy, energy efficiency and diesel replacement initiatives. The 2025 water stewardship strategy implementation is progressing ahead of targets. Improve water security for communities and the environment and improve community relations in water- stressed regions. Achieve cost savings and reduce reliance on utility companies. Vastly reduced carbon footprint, more compelling investment case and improved reputation. Showing leadership in renewable energy and technology adoption can prompt greater collaboration with other industry players and peers. GOLD FIELDS’ 2021 CLIMATE-RELATED TOP CATASTROPHIC GROUP RISKS Rating Risks Context Mitigations 1 2 Tailings dam failure Catastrophic TSF failure could cause loss of life and environmental and property damage. There could be many triggers for failure, of which climate change, including extreme weather events, is one. Robust and stringent TSF management governance, including processes, procedures and controls, based on ICMM guidance and GISTM. We are further strengthening governance by ensuring conformance of all TSFs with “extreme” or “very high” consequence classiﬁcations with the GISTM by August 2023 and all other TSFs by August 2025. Flooding (major incident causing loss of life and property damage) The recent IPCC reports indicated with a high level of certainty that the volatility and extremity of weather events will increase and that global warming is affecting a change in the global water system. Extreme ﬂooding could result in damage to and collapse of infrastructure, including power supply, compromising pumping ability. Climate risk and vulnerability assessments conducted for all regions, with adaptation plans being implemented. Various policies, processes and procedures based on ICMM and other guidance such as the ICMM’s Critical Control Management Programme. Robust enterprise risk management, including emergency evacuation and ﬂooding procedures and emergency response plans. Gold Fields Climate Change Report 2021 CCR 11 One of the ﬁve wind turbines at our Agnew mine in Western Australia Unpacking transitionary risks The outcomes of the recent COP26 held in Glasgow, Scotland, in November 2021 look set to increase legislative and policy transitionary risks for companies. These include the completion of the Paris Rulebook, which inter alia deals with stricter emissions disclosures and the exponential development in transparent disclosure and reporting. This has been given further impetus with the establishment of the IFRS International Sustainability Standards Board and the consolidation of various accounting and sustainability frameworks. More than 5,200 businesses, including Gold Fields, and about 450 ﬁnancial institutions have to date committed to science-based net zero targets and there has been a marked increase in public-private collaborations to deal with climate change impacts. During 2022, a focus at Group level will be on aligning our disclosure with new rules by the US Securities Exchange Commission (SEC) entitled: The enhancement and standardisation of climate-related disclosures for investors. These are set to be unveiled in mid-2022. Similarly, we will seek to align with the Johannesburg Stock Exchange's (JSE) voluntary JSE Sustainability and Climate Disclosure Guidance. Our net-zero commitments CLIMATE-RELATED LEGISLATION, POLICIES AND NDCS CHILE PERU AUSTRALIA SOUTH AFRICA GHANA Key legislation • Carbon Tax Law • Framework Law on Climate Change being developed • Promotion of expansion of energy matrix through unconventional renewable energies Policy and regulations • Long-Term Climate Strategy (ECLP) • National Green Hydrogen Strategy, 2020 • Sectoral mitigation and adaptation plans Carbon tax • Carbon tax of US$5/t CO2e to apply to entities that emit 25 00t CO2e and/or 100t of PM from combustion processes from 2023 • Framework Law on Climate • Clean Energy Finance Corporation Change, 2018 • Energy Efficiency Act, 2007 Act, 2012 • Proposed Greenhouse Gas Storage and Transport Bill for Western Australia • National Climate Change Bill • Carbon Tax Act, 19 of 2019 • Renewable Energy Act, 2011 • 2015 National Climate Change strategy (ENCC) • National Forestry and Climate Change strategy • Voluntary carbon footprint reporting • Proposed Registry of Emissions and Transfers of Pollutants • Clean Energy Finance Corporation Investment Mandate Direction 2020 • Climate Solutions Package, 2019 • National Hydrogen Strategy, 2019 • Emissions Reduction Fund and Safeguard Mechanism • National Climate Change Adaptation Strategy, 2020 • Sectoral emission targets framework and company-level carbon budget allocations expected 2023 • National Climate Change Policy, 2013 • Ghana Renewable Energy Master Plan, 2019 • National Adaptation Plan Framework, 2018 • Phase 1 of Carbon tax regime taxes primary emissions, with no liability to date • Phase 1 extended until end 2025 • Pass-through tax on cement NDCs1 Carbon neutrality by 2050 Fixed level target Target of net zero emissions by 2050 Fixed level target Fixed level target GHG emissions of no more than 1,100Mt CO2e between 2020 and 2030, with a peak by 2025 and GHG level of 95Mt CO2e by 2030 Range of 208,8Mt CO2e (unconditional) and 179,0Mt (conditional) by 2030 Reduce GHG emissions by 26% – 28% below 2005 levels by 2030 Range of 398Mt – 510Mt CO2e for 2025; 350Mt – 420Mt CO2e for 2030 (in line with Paris Agreement) Range of 26.9% and 12% reduction by 2025 and 14.9% and 44.9% by 2030 against business-as-usual levels Gold Fields response • Salares Norte’s energy will consist of a 27MW hybrid microgrid with 10MW of solar • Renewable energy procured from grid • Hydro-power allocation classiﬁed • Continued implementation of renewable • 40MW solar PV plant upgraded to 50MW, • Upgrade of turbines to combined cycle energy plants at all four mines to be commissioned end 2022 gas turbines at Tarkwa as renewable energy by the International REC Standard • Participation in Electric Mine Consortium • Trial of zero-emission vehicles • Approval to increase capacity to 60MW • Electric ﬂeet and diesel replacement received • Trial of zero-emission vehicles 1 Source: Climate Watch (climatewatchdata.org) Gold Fields Climate Change Report 2021 CCR 12 Performance and progress Energy and carbon management Energy management is Gold Fields’ key lever in reducing our GHG emissions and transitioning to a low-carbon future. To ensure integrated climate change leadership and governance, we have established an Executive Steering Committee to oversee our climate change response, of which our decarbonisation strategy forms a signiﬁcant part. International best practice, such as the recently revised ICMM Position Statement on Climate Change and implementation of ISO 50001-certiﬁed energy management systems at all sites by 2023, will provide the framework in which our decarbonisation journey will take place. SDGs: 7 13 AFFORDABLE AND CLEAN ENERGY CLIMATE ACTION PERFORMANCE ANALYSIS 2021 Total energy consumption increased by 6% to 13.9PJ (2020: 13.1PJ), mainly as a result of a 10% increase in tonnes mined. The energy mix comprises 51% haulage diesel, 48% electricity and less than 1% of other fuels Energy intensity remained virtually unchanged at 5.66GJ/oz (2020: 5.64GJ/oz) 1 2 Energy savings increased to 1.21PJ (2020: 1.09PJ), translating into long-term cost savings of US$34m, equal to US$14/oz. Our 2017 Energy and Carbon Management Strategy has delivered cumulative energy savings of 3.3PJ and combined cost savings of about US$140m up to 2021 3 Energy spend increased by 25% during 2021 to US$341m (2020: US$257m) on the back of higher oil prices and increased consumption Scope 1 and 2 emissions were 7% higher at 1.7Mt CO2e than the previous year (1.6Mt CO2e), despite a 10% increase in tonnes mined Emissions intensity increased slightly to 0.70t CO2e/oz (2020: 0.69t CO2e/oz) We exceeded our annual target of 287kt CO2e in emissions reductions from savings initiatives during 2021 by 7%, achieving 306kt CO2e (2020: 253kt CO2e) 4 5 6 7 EMISSIONS AND REDUCTIONS ACHIEVED KEY REGIONAL ENERGY INITIATIVES 2,500 2,000 1,500 1,000 500 0 6 1 3 9 6 , 1 6 1 0 2 0 9 1 1 6 , 1 7 1 0 2 3 1 1 6 0 5 , 1 8 1 0 2 8 2 1 1 1 6 , 1 9 1 0 2 7 7 1 5 0 6 , 1 0 2 0 2 ■ Scope 1 and 2 emissions ■ Annual GHG emissions avoided GROUP ENERGY USE AND SAVINGS ACHIEVED 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 1 2 3 6 9 6 , 1 1 6 1 0 2 6 7 1 8 7 1 , 2 1 7 1 0 2 1 1 4 8 2 6 , 1 1 8 1 0 2 5 0 4 8 9 4 , 2 1 9 1 0 2 5 8 0 , 1 9 2 1 , 3 1 0 2 0 2 6 0 3 4 1 7 , 1 1 2 0 2 1 8 0 2 , 1 5 0 9 , 3 1 1 2 0 2 ■ Group energy consumption (TJ) ■ Annual energy savings (TJ) 1 Of the Tarkwa mine’s 2021 total energy savings, 5.6TJ (11.2%) were derived from initiatives that deviate from Gold Fields' reporting criteria. As these initiatives resulted in cost and energy savings, they have been recognised as exceptional savings by the Gold Fields Group Head of Energy and Carbon. Total cost savings Cost reductions CO2e savings US$0.4m US$0.4m US$1.71/oz US$1.71/oz 1,212 CO2e 1,212 CO2e US$8.7m US$8.7m US$7.63/oz US$7.63/oz 90,274 CO2e 90,274 CO2e US$3.9m US$3.9m US$13,38/oz US$13,38/oz 42,638 CO2e 42,638 CO2e AMERICAS REGION Cerro Corona’s carbon footprint is the lowest in Gold Fields. The mine has been ISO 50001 certiﬁed since 2018. Cerro Corona’s carbon footprint is the lowest in Gold Fields. The mine has been ISO 50001 certiﬁed since 2018. • Optimising haulage process and reduction of diesel consumption • Optimising haulage process and reduction of diesel consumption • LED light towers • LED light towers • Continuation of LED lighting rollout • Continuation of LED lighting rollout • Commissioning of 10MW solar plant at the Salares Norte project in Chile in Q2 2024 • Commissioning of 10MW solar plant at the Salares Norte project in Chile in Q2 2024 AUSTRALIA REGION Australia is Gold Fields’ leading renewable energy region, with Agnew’s hybrid microgrid supplying 57% renewable electricity Australia is Gold Fields’ leading renewable energy region, with Agnew’s hybrid microgrid supplying 57% renewable electricity • Improve haulage efficiency and diesel reduction • Improve haulage efficiency and diesel reduction • Installed a power line to reduce diesel consumption • Installed a power line to reduce diesel consumption • Installation of capacitor banks to reduce reactive power • Installation of capacitor banks to reduce reactive power • Gas waste heat recovery • Gas waste heat recovery • Commissioning of renewables microgrid at Gruyere in Q2 2022 • Commissioning of renewables microgrid at Gruyere in Q2 2022 As 93% of South Deep’s carbon footprint is fossil-fuel electricity based, its energy efficiency initiatives are electricity grid-related. As 93% of South Deep’s carbon footprint is fossil-fuel electricity based, its energy efficiency initiatives are electricity grid-related. • Commissioning of 50MW solar plant in H2 2022 • Commissioning of 50MW solar plant in H2 2022 • Switch off one 3MW compressor and run one compressor at 4MW • Switch off one 3MW compressor and run one compressor at 4MW • Pumping station optimisation and recirculation of water • Pumping station optimisation and recirculation of water • Replacement of fans with new energy efficient fans • Replacement of fans with new energy efficient fans • Fan systems optimisation • Fan systems optimisation SOUTH AFRICA REGION WEST AFRICA REGION Installation of gas turbines supplied by a pipeline has improved energy security, improved road safety and reduced costs and emissions. Installation of gas turbines supplied by a pipeline has improved energy security, improved road safety and reduced costs and emissions. • Electric pumps to replace diesel pumps for dewatering • Electric pumps to replace diesel pumps for dewatering • Installation of variable speed drives at tailings pumps • Installation of variable speed drives at tailings pumps • Mining equipment optimisation, including eco driver training • Mining equipment optimisation, including eco driver training • Carbon-in-leach elution fuel change • Carbon-in-leach elution fuel change US$21.1m US$21.1m US$27,16/oz US$27,16/oz 172,008 CO2e 172,008 CO2e Gold Fields Climate Change Report 2021 CCR 13 Performance and progress Water stewardship The 6th Assessment Reports issued by the IPCC conﬁrm that the climate crisis is a water crisis, resulting in too much, too little or too polluted water, or a combination of these. Our water stewardship approach is that of inclusive management of a commonly shared scarce and valuable resource, acknowledging that access to water is a fundamental human right and indispensable to the proper functioning of all natural ecosystems. We are also very aware that most of our operations are situated in water-stressed areas. Gold Fields’ ﬁve-year water stewardship strategy is closely aligned to the ICMM Water Position Statement and follows an integrated water resource management approach, including catchment management informed by risk and opportunity analyses. As water risks are local, each region identiﬁed its key risks and opportunities to develop its regional water management plan. We also started a process to assess the impact of climate change on the integrity of all water management structures across the Group. DRIVING SUSTAINABLE ECONOMIES Gold Fields continued to participate in CDP water disclosure and achieved an A- rating for 2021. WATER STEWARDSHIP STRATEGY PERFORMANCE Efﬁcient water user Responsible operator Engaged operator Community projects/initiatives WATER RECYCLED/REUSED PERU • Integrated data management software • Feasibility study for a TSF water for water quality monitoring data • Water resource risk assessment treatment plant completed • Provision of water monitoring reports to host communities • Rainwater harvesting • Optimisation of potable water system in • Workshops with communities were Hualgayoc postponed due to Covid-19 restrictions • Construction of a water treatment plant to provide drinking water to communities SOUTH AFRICA • Aim to eliminate Rand Water (utility) • Received the approved amendment • Active engagement with the consumption to zero by 2050 • Water conservation and demand management plan • Exceeded both water targets to the 2018 water use licence • The old return water dam was desilted and designs for an upgraded lining completed Rietspruit Catchment Forum with instream water quality results shared • Shared-value projects • Collaborated with government agencies to raise awareness of the importance of trees and water during Arbor Day and planting trees at three schools • Starting water management education programmes in schools AUSTRALIA • Water balance reviewed • Identified water projects, e.g. commissioned seepage transfer station at the TSF to capture and recycle seepage water • Water management risk assessments completed, with water management plans for all sites to be completed during 2022 • Identiﬁed key water stakeholders • Engaged with all the local shires on the impacts of climate change, how to mitigate the effects of drought etc. • Participation in the Goldﬁelds Voluntary Organisation of Councils comprising 10 local governments to discuss issues in the Goldﬁelds region of Western Australia GHANA • Commissioned clarification plant • Site water management plans • Catchment and water source-based at Tarkwa completed risk assessments and controls • Host community water committees re-formed • Watershed mapping completed Our focus remains on continual improvement of our water management practices, pollution prevention, recycling and water conservation. Water stewardship is one of six priorities of the Gold Fields ESG Charter, with 2030 targets to recycle and reuse at least 80% of water and reduce freshwater use at least 45% from a 2018 baseline. During 2021, Gold Fields spent US$32m on water management and projects (2020: US$25m). We met all our water-related targets during 2021. (%) 100 2 8 2 7 50 2 5 4 8 8 6 1 5 9 7 1 8 9 7 3 8 7 8 4 8 0 8 8 8 9 1 8 2 1 4 7 3 2 3 7 3 0 7 1 0 2 8 1 0 2 9 1 0 2 0 2 0 2 1 2 0 2 ■ South Africa ■ West Africa ■ Americas ■ Australia ■ Group FRESHWATER USE/WITHDRAWN (GL) 10 5 0 5 . 6 2 . 4 3 . 3 3 . 7 9 . 2 9 . 0 8 . 3 5 . 0 2 . 3 7 1 0 2 8 1 0 2 9 . 5 3 . 4 7 . 0 9 1 0 2 8 . 4 6 . 1 9 . 2 6 . 0 7 . 3 4 . 3 6 . 1 7 . 0 0 2 0 2 1 2 0 2 ■ South Africa ■ West Africa ■ Americas ■ Australia ■ Group SDG: 6 CLEAN WATER AND SANITATION PERFORMANCE DATA The primary gains were achieved at Tarkwa and South Deep. Tarkwa installed a micro-ﬁltration unit on a clariﬁer return line to the carbon-in-leach plant and reused process water for cooling at the power plant and to mix explosives and some chemicals TARGET Recycle/reuse 80% of total water use by 2030 PERFORMANCE IN 2021 75% South Deep continued to recycle treated sewage effluent and upgraded its potable water pipeline, reducing losses TARGET 45% reduction of freshwater use from a 2018 baseline by 2030 PERFORMANCE IN 2021 35% ICMM issued an updated Water Reporting Guideline and we updated our internal guideline accordingly. Gold Fields Climate Change Report 2021 CCR 14 Tailings storage facilities SDGs: 9 6 6 INDUSTRY, CLEAN WATER CLEAN WATER INNOVATION AND AND SANITATION AND SANITATION AND SANITATION INFRASTRUCTURE 12 RESPONSIBLE CONSUMPTION MANAGEMENT OF TAILINGS DAMS TAILINGS MANAGEMENT STRATEGY Gold Fields’ Tailings Storage Facility (TSF) Management Policy Statement commits us to ensure that our TSFs cause zero harm or damage to our people and the natural environment. At the industry and company level, we are pursuing two broad strategies to further strengthen the technical management and governance of the 37 tailings facilities at our operations and joint ventures. As a member of the ICMM, Gold Fields has been integrally part of the development of the Global Industry Standard on Tailings Management (GISTM) as an international imperative to prevent TSF failures, such as those that had occurred over the past few years at the Brumadinho and Samarco TSFs in Brazil, both resulting in major losses of lives, and the Mount Polley TSF in Canada. This global best practice standard sets out how companies can ensure that tailings facility risks are managed appropriately, consistently and transparently. At a company level, Gold Fields has publicly endorsed and committed to conforming to the GISTM. We have also aligned our tailings management practices to the ICMM position statement on tailings management. In 2021, Gold Fields launched a review of each of our major water management structures, including TSFs, to evaluate their status, identify opportunities for improvement and assess the potential impact of climate change on their integrity. CLIMATE CHANGE RISK AND VULNERABILITY ASSESSMENTS We appreciate that risk management and, speciﬁcally, a deep understanding of the climate change resilience and vulnerability of our TSFs is an integral part of our TSF strategy. Therefore, we have initiated a process to amplify the recently completed regional risk and vulnerability assessments (see p16 – 20) to include a speciﬁc focus on our TSFs and water management structures. In addition, we will follow the ICMM Tailings Best Practice Guide in relation to TSF design for climate change as part of our process towards conformance to the GISTM. The actions to achieve this include the following: • Ensure that the hydrological parameters are current • Estimate the potential changes in Annual Exceedance Probability (AEP) and Probable Maximum Precipitation (PMP) events due to climate change at each operation • Update water balances and hydrological and hydrogeological models for all operations • Develop a water-retaining structure design guideline or standard. SOUTH DEEP DOORNPOORT TSF CLIMATE RISK ASSESSMENT We initiated the ﬁrst regional assessment of the Doornpoort TSF at South Deep during 2021, with the assistance of external specialists. The assessment continued the recent regional risk and vulnerability assessment and the 2019 dam break assessment. The assessment is based on a climate change scenario of an increase in the mean temperature, a decrease in rainfall and an increase in rainfall variability. The two main hazards in connection with TSF failure are slope instability and overtopping, which could lead to the uncontrolled release of tailings and water in the form of a ﬂow slide. These ﬂow failures, in turn, could lead to serious environmental impacts and potential impacts on nearby residential settlements. However, both overtopping failure and slope instability are unlikely due to adequate water management and performance monitoring. Performance and progress The tailings dam at Cerro Corona in Peru OUR TSF MANAGEMENT TIMELINE 2015 2018 2020 2023 2025 2030 ICMM review of Samarco and Mt Polley failures Gold Fields TSF Management Guideline updated Gold Fields Incident Standard developed; Gold Fields TSF audits conducted; AMIRA Research Project launched; GISTM launched through ICMM Gold Fields Climate Change Report 2021 CCR 15 Tarkwa and Cerro Corona GISTM conformance exercise to be completed All other TSFs GISTM conformance studies to be completed Target to reduce active upstream TSFs from ﬁve to three Climate change risk and vulnerability Climate change risk and vulnerability assessment A second round of climate change risk and vulnerability assessments was conducted at all our mines during 2021, other than at the Salares Notre project, which conducted its ﬁrst assessment. The initial assessments followed the ICMM methodology to increase the resilience of Gold Fields, our operations, the value chain and local communities, as set out in the “Adapting to a changing climate” 2013 ICMM Report. In 2019, the ICMM released an update to the report, entitled “Adapting to a changing climate: building resilience in the mining and metals industry”, following the same methodology. The updated assessments followed this methodology and classiﬁed the impacts of climate change on the core operations, the value chain and the broader network comprising the social and natural environment. Risk is determined by the severity and the probability of an uncertain future event occurring. Vulnerability evaluates the degree to which a system is incapable of coping with adverse effects of climate change. The vulnerability of a system is determined by the exposure to the climate change impact, the sensitivity of the system, and its capacity to adapt. The vulnerability of each risk is classiﬁed as low, medium or high, according to the consideration of the exposure to climate change and its sensitivity, followed by an adjustment according to the adaptive capacity of the system to climate change. CHILE – Salares Norte Project NATIONAL PROJECTIONS ➜ ➜ ➜ Increased temperature Decreased snow Decreased annual rainfall Increased storm frequency and intensity Increased water stress LOCAL PROJECTIONS/ FACTORS 4,500m altitude, extreme wind and snow, open pit mining This is the ﬁrst risk and vulnerability assessment completed for the Salares Norte project in Chile, covering the currently expected life-of-mine of the project of 11.5 years. The assessment focused on gaining an understanding of the extent of the risks and the project’s vulnerability over the life-of-mine. The next phase of the process, within the next two years, will entail developing adaptation measures to address these risks and increase the resilience of the project. Business process/stakeholder Climate change impact Risk Vulnerability Processing Transport Health and safety Disruption to operations Reduced available quantity of process water Communication failure Increased electricity costs due to low PV efficiency Disruption in transport system and damage to internal roads Increased cooling/heating costs and potential heat/cold stress Land slide Migration Drought Sea Swells Land slide Migration Melting Glacier Respiratory illness West Africa Peru West Africa Drought Sea Swells Frost Decreasing wind speed Peru Water stress Melting Glacier Respiratory illness Land slide Migration West Africa Frost Decreasing wind speed Water stress Increased discomfort experienced by mine employees Decreased productivity due to lower temperatures Suppliers Contractor workforce Social environment Drought Sea Swells Peru Melting Glacier Respiratory illness Land slide Migration Frost Decreasing wind speed Water stress Land slide Drought Migration Sea Swells Drought Sea Swells Melting Glacier Respiratory illness West Africa West Africa Peru Peru Melting Glacier Respiratory illness Frost Decreasing wind speed Water stress Land slide Frost Migration Decreasing wind speed Water stress West Africa Disruption to core services and supplies and delays in transport of materials, critical equipment and spares Increased costs of upstream products Disruption to operations Movement of personnel to sites and interruptions Reputational impact due to the impact on the “Salar de Pedernales” (Salt lake) Increased tension in communities due to living conditions and lack of access to safe water Regulatory Drought Sea Swells Land slide Migration Peru Melting Glacier Respiratory illness Drought Sea Swells Increased vulnerability of host communities West Africa Increased dependency of host communities on Gold Fields Peru Increased restrictions on GHG emissions and restriction on the use of fresh water for mining I S N O T A R E P O E R O C I N A H C E U L A V K R O W T E N R E D A O R B Infrastructure Land slide Migration Natural environment/ biodiversity Drought Sea Swells West Africa Drought Flooding Peru Ocean swells Frost Decreasing wind speed Water stress Land slide Migration Melting Glacier Respiratory illness West Africa Carbon tax and increased reporting Frost Decreasing wind speed Water stress Increase in ﬂooding and damage to public roads Drought Sea Swells Peru Reduced availability of water and food for fauna (chinchilla) Melting Glacier Respiratory illness Land slide Migration West Africa Storms Water scarcity Landslides Temperature Water stress Snow Wind Heat/cold stress Carbon tax Negative investor perceptions Melting Glacier Respiratory illness Frost Decreasing wind speed Water stress Drought Sea Swells Peru Frost Decreasing wind speed Water stress Melting Glacier Respiratory illness Frost Decreasing wind speed Water stress Gold Fields Climate Change Report 2021 CCR 16 Medium Medium Medium Low Medium Medium Medium Low Medium Low Medium Medium Medium Medium Medium Low Medium Low Medium Low Climate change risk and vulnerability assessment continued PERU – Cerro Corona NATIONAL PROJECTIONS Increased temperature ➜ ➜ Increased rainfall variability ➜ Increased extreme weather events ➜ Increased rainfall LOCAL PROJECTIONS/ FACTORS Open pit mining, 3,600 – 4,000m altitude, extreme rainfalls that could disrupt the route to the harbour Business process/stakeholder Climate change impact Risk Vulnerability Adaptation measures Climate change risk and vulnerability I S N O T A R E P O E R O C I N A H C E U L A V K R O W T E N R E D A O R B Waste disposal TSF slope stability and integrity Extraction Decreased productivity during heavy rainfall events Opencast mine slope stability Pit ﬂooding compromising the pumping systems and threatening the quality of water being discharged Interruption in production due to decrease in available water due to increased evaporation caused by increased temperature Unsafe working conditions for ﬁeld workers due to increased lightning storms Cessation of operations caused by interruption of concentrate transport to port High High High High • Alignment with GISTM • Slope stability monitoring system in place • Monitoring of ground water levels, piezometric ground water pressure, pumping capacity, water treatment capacity and TSF capacity • Pit dewatering system, including backup pumps • Slope stability monitoring system in place • Pit dewatering system, including pumping wells, channels for drainage and collection and ponds for storage and pumping • Monitoring of groundwater levels Medium • Short and long-term water balance models and decisions on water transfers High High • Early storm warning system to alert workers of electrical storms • Shelter provided for ﬁeld workers • Increase of concentrate storage capacity on-site and at the port Damage to roads due to ﬂooding and excessive rainfall Medium • Use of crushed rock on the surface of the road • Frequent maintenance of the roads Negative impact on natural vegetation process affecting closure and post-closure Medium • Feasible revegetation plan as part of the mine closure plan ➜ ➜ ➜ ➜ West Africa Peru Land slide Migration Drought Sea Swells Melting Glacier Respiratory illness Frost Decreasing wind speed Water stress Land slide Migration Drought Sea Swells West Africa Peru Health and safety Transport Mine closure Supply chain Port infrastructure ➜ Melting Glacier Respiratory illness Damage to port infrastructure could cause logistics and supply chain delays Disruption in supply chain and the interruption of the provision of supplies High High • Available alternative routes are in fairly good condition for the delivery of products • Increased stock level of diesels up to approximately 10 days in the event of a disruption • Construction works at the dam wall are postponed during the rainy season and resumed during the dry season • Investigations of an alternative port for shipping of concentrate Electricity supply Frost Decreasing wind speed Water stress Interruption of electricity supply due to impact on hydropower from melting glaciers Medium • Back-up energy supply Transport and supply chain ➜ Disruption of supplies due to road damage Medium • Alternative routes have been identiﬁed and on-site stock supply for operations Social environment Poverty and literacy levels may hamper the ability of host communities to build resilience to the impacts of climate change Medium • Training and awareness on the impacts of climate change • Implementation of projects to improve the water supply to the host communities including water treatment and Drought Sea Swells Peru rainwater harvesting Land slide Migration West Africa ➜ ➜ ➜ Natural environment/ biodiversity Melting Glacier Respiratory illness Increased vulnerability of food provision and food prices for coastal communities Frost Decreasing wind speed Water stress Migration trend inland into the direct area of inﬂuence of the mine as demands for jobs increase Medium • Increased engagement with communities and investment in agricultural projects Medium • Focus on host community employment and non-mining jobs Spread of water pollution and water borne diseases affecting host communities due to change in water ﬂow Medium • Community-based initiatives to build community resilience • Shared Value Strategy Change in ecosystem services due to the impacts of climate change Low • Investigate options to enhance the resilience of ecosystem services to host communities Land slide Migration West Africa Heavy rainfall Flooding Extreme weather events Lightning Storms Evaporation Temperature Landslides Rockfalls Drought Glacier melting Sea level rise Storm surges ➜ Increased rainfall Drought Sea Swells Peru Melting Glacier Respiratory illness Gold Fields Climate Change Report 2021 CCR 17 Frost Decreasing wind speed Water stress Climate change risk and vulnerability Climate change risk and vulnerability assessment continued AUSTRALIA – St Ives, Granny Smith, Gruyere and Agnew NATIONAL PROJECTIONS ➜ ➜ Increased temperature Reduced rainfall Increased extreme weather events Increased bushﬁres Legislation and policy changes LOCAL PROJECTIONS/ FACTORS Mostly underground mining with some surface mining in remote, arid and mostly hot areas with high evaporation. Extremely infertile soils with saline to hypersaline groundwater. Increase in temperature, decrease in annual rainfall, increase in the intensity and the number of hot days, increase in droughts, increase in bushﬁres. Business process/stakeholder Climate change impact Risk Vulnerability Adaptation measures Extraction Adequacy of ﬂood management and storage capacities to safeguard personnel Medium • Align ﬂood management protocols to a critical control management approach • Review surge capacity in light of in-pit waste rock disposal • Integrated long-term modelling into closure planning for appropriate structures Mineral processing Declining availability of process water Medium Waste disposal TSF stability during periods of extreme rainfall Medium Health and safety Increase in ventilation requirements as mines move deeper and ambient temperature increases Medium Bushﬁre impact to infrastructure, supply and safety Medium • Life of mine water risk assessments for all sites • Water included into strategic plans • Water source and capacity studies at all operations • Complete buttress works at the Granny Smith TSF • Complete drainage works at the Gruyere TSF • Utilise in-pit tailings where possible • Align to the GISTM • Closure modelling scenarios to include long-term stability assessments • Innovation and technology strategy • Participate and provide input into the Electric Mine Consortium • Investigate and trial battery electric vehicles for the underground operations • Continue with investigations and deployment of remote technologies and ventilation-on-demand technologies • Review site critical hazard standards to ensure appropriate coverage of bushﬁre risk • Review site-based ﬁre management plans • Identify at risk infrastructure • Mutual aid agreements at all sites to ensure regional responses • Participation in Goldﬁelds Voluntary Regional Organisation of Councils work on climate change Energy consumption increase for cooling of equipment and workplaces Medium • Align to ISO 50001 • Energy management plans for all sites, inclusive of a focus on energy efficiency • Implement technology strategy to reduce heat loading • Transition energy sources to renewable energy Policy and regulatory Government restricting access to water Medium • Implementation of the three-year water management strategies • Broaden water balance focus to mining activity with linked water management plans • Identify all potential water sources with a view towards regulatory approval • Water included into strategic plans Social environment Societal pressure to address climate change Medium • Develop a plan for 30% emissions reductions by 2030 • Continue with renewable energy projects • Utilise the existing government engagement plan to emphasise Gold Fields’ approaches and successes to tackle climate change • Participate in the Chamber of Minerals and Energy structures and ensure Gold Fields content within the social positioning campaigns I S N O T A R E P O E R O C I N A H C E U L A V K R O W T E N R E D A O R B Storms Flooding Water scarcity Extreme weather events Temperature Evaporation Bushﬁres Drought Regulations Social licence to operate Gold Fields Climate Change Report 2021 CCR 18 Climate change risk and vulnerability Climate change risk and vulnerability assessment continued SOUTH AFRICA – South Deep NATIONAL PROJECTIONS ➜ ➜ ➜ ➜ Increased temperature Increased rainfall variability Decreased annual rainfall Increased storms Increased water stress and prolonged drought LOCAL PROJECTIONS/ FACTORS Deep underground mining up to 2,995 metres below ground level and surface mining. Business process/stakeholder Climate change impact Risk Vulnerability Adaptation measures Underground Processing Increased electricity consumption and costs, due to more cooling requirements Reduced onsite water ﬂows resulting in increased demand for water from Rand Water and Rand Water’s inability to provide sufficient quantity of water High High Health and safety Employee heat exhaustion and dehydration, speciﬁcally at surface operations Medium • 50MW solar PV project • Energy efficiency initiatives, including energy efficient vent fans • Redirected sewerage effluent into process water system for reuse • Increased on-site water storage, with water storage reticulation projects • Additional boreholes drilled with water conservation schemes • Developed scavenger wellﬁelds • Various projects implemented in terms of fan efficiency increase in the cooling system • Increased awareness related to heat stress incorporated into health and safety programmes • Updated heat stress and dehydration strategies Waste management TSF slope stability during periods of high rainfall Medium • Implementation of GISTM • Incorporation of climate change into TSF design and modelling Mine closure Electricity infrastructure Suppliers Workforce Negative impact on natural revegetation process as part of rehabilitation process Low • Continual evaluation of the mine closure plan Increased electricity costs or disruption of supply Medium • 50MW solar PV project • Investigations into further renewable energy projects • Implementation of energy efficient vent fans Increased price of upstream products due to carbon tax Medium • Engagement with suppliers about carbon tax Employees working outside on surface at increased risk of heat exhaustion and dehydration Medium • Increased awareness related to heat stress incorporated into health and safety programmes for surface personnel. Host communities Increased tension in communities due to delivery and living conditions High • Initiatives to build adaptive capacity of the host communities, including social investments to increase Climate change exacerbates the risk of increased dependency of host communities on Gold Fields as a result of poor service delivery Medium economic diversiﬁcation, education, training and health and wellbeing. • Continual engagement with host communities. • Consider water infrastructure upgrade projects at host communities. • Reduce dependence on water utility. • Continual engagement with host communities. I S N O T A R E P O E R O C I N A H C E U L A V K R O W T E N R E D A O R B Temperature Water stress Drought Heatwaves Extreme weather events Air quality Flash ﬂoods Carbon tax Gold Fields Climate Change Report 2021 CCR 19 Climate change risk and vulnerability assessment continued GHANA – Tarkwa and Damang NATIONAL PROJECTIONS ➜ ➜ ➜ ➜ ➜ Increased temperature Increased rainfall variability Increased extreme weather events Increased very hot days Sea level rise LOCAL PROJECTIONS/ FACTORS Open pit mining – high ﬂood risk, extremely high risk of untreated water and wastewater discharge, high risk of drinking water shortage, extremely high risk of unimproved/no sanitation, high risk of drought, high risk of tailings and infrastructure failures, stringent regulation. Business process/stakeholder Climate change impact Risk Vulnerability Adaptation measures Climate change risk and vulnerability Extraction Larger volumes of mine water and increased pit ﬂooding and pumping with associated increased operational costs High Decreased water quality available for processing purposes Increased operational costs due to maintenance of roads Materials handling and processing TSF and infrastructure failure High High High Health and safety Increased discomfort experienced & risk of heat-related illnesses High Suppliers Regulatory Social environment Investor perceptions Insurance providers Natural environment Increased spread of vector-borne diseases such as malaria, cholera, etc. High Weather-related delays in transport of materials, critical equipment and spares Increased legislative and other requirements, including renewable energy and biodiversity protection Increased vulnerability of host communities due to impacts of climate change, including increased dependency on Gold Fields for service provision and ﬁnancial support during crises High High High Decreased food security, increased spread of tropical diseases worsening community health and poverty, induce migration, contribute to civil unrest, and increase conﬂict over natural resources. High Increased pressure from investors, lenders, and insurers to minimize carbon liabilities and develop adaptation plans. Medium Climate-related damage may raise premiums or make insurers unwilling to provide insurance or re-insurance. Increased difficultly to reestablish vegetative cover Medium High I S N O T A R E P O E R O C I N A H C Y L P P U S K R O W T E N R E D A O R B Drought Flooding Storms Stringent regulation Water scarcity Temperature Sea level rise Extremely uncomfortable days Gold Fields Climate Change Report 2021 CCR 20 • Undertake a mine wide ﬂood risk assessment and modelling to assess hotspots or ﬂush points for planning • Continue to mine deeper in the dry season to compensate for wet season limitations • Increase stockpiling to ~28 days, as per longest period of consecutive days of rainfall • Divert excess run-off water away from pit • Upgrade pumps and secure back ups • Drainage channels enhancement • Continued on-site water quality testing and permitting for discharge • Increase water recycling and treatment to improve water quality • Continue to raise or elevate roads with adequate terrain and gradient • Line haul roads with crushed waste rock for operational continuity on rainy days • Continue to divert run-offs away from road networks TSFs: • Continue to implement effective GISTM programmes • Ensure mine is ICMI certiﬁed at all times • Ensure all TSFs have overﬂow outlet paths/spill ways, especially during high rainfall periods and emergencies • Erosion resilient material used in constructing TSF walls Mine infrastructure: • Undertake infrastructure resilience study • Increase the frequency and condition monitoring programmes and implement corrections where needed • Use climate resilient materials for construction/building structures on the mine • Provide for increased operating cost from energy usage in hot seasons • Invest in solar hybrid air conditioners for onsite offices • Employee training on heat stress/climate change and health issues, including malaria and heat stress monitoring programme, including frequent health checks • Enhanced employee wellbeing programmes • Malaria control and insect bite prevention programme • Employee training • Critical spares pre-ordered and stocked considering potential downtimes • Green/sustainable procurement practices • Regular monitoring of roadside waterways, including storm water diversion • Regular storm water drains maintenance and desilting • Continued monitoring of regulatory developments, including updated NDC • Continue to Implement a dynamic and effective climate change strategy • Prioritise compliance obligations • Consider climate offset projects (such as waste-to-energy, solar project, forest protection/conservation etc.) and work closely with communities, government/regulators • Continued community education on climate change impacts • Community shared value programmes, including rehabilitation of household ablution and water facilities • Assisting municipalities with providing basic service delivery, including electricity, potable water, and ablution facilities • Extensive collaboration with NGOs in areas of sanitation, water • Water and Sanitation Committee to continue • Dynamic emergency preparedness and response awareness • Effective host community procurement and job creation • Farmer education and studies to investigate harvesting trends in line with climatic conditions • Continued support to improve community economic performance through various programmes (e.g. YouHOP, Cocoa growing) • Effective decarbonisation programmes, including offset projects • Good environmental stewardship practices • Effective implementation of sustainable mining plans/strategy • Closure costs and bonds in place • Effective climate change strategy and implementation • Increase ﬁnancial provisions for insurance • Develop closure designs that support survival of ﬂora/fauna under adverse conditions • Biodiversity management plans to include climate resilient vegetation strategies • Implement effective biodiversity management programmes Regional and Group energy carbon performance ELECTRICITY PURCHASED (GWh) Peru Australia South Africa Ghana Group DIESEL CONSUMPTION (ML) Peru Australia South Africa Ghana Group TOTAL ENERGY CONSUMPTION (PJ) Peru Australia South Africa Ghana Group ENERGY INTENSITY (GJ/oz PRODUCED) Peru Australia South Africa Ghana Group TOTAL ENERGY COSTS (US$m) Peru Australia South Africa Ghana Group ENERGY SPEND (% OF OPEX) Peru Australia South Africa Ghana Group SCOPE 1 CO2 EMISSIONS (kt)2 Peru Australia South Africa Ghana Group SCOPE 2 CO₂e EMISSIONS (kt)2 Peru Australia South Africa Ghana Group SCOPE 3 CO₂e EMISSIONS (kt)2 Peru Australia South Africa Ghana Group EMISSIONS INTENSITY (TONNES CO2e/oz) (SCOPE 1 AND 2)2 Peru Australia South Africa Ghana Group Includes 100% energy costs for Gruyere, previously 50% was included. ¹ 2 Emission factors 2016 to 2020 for West Africa and Americas restated in line with ISO 14064. Gold Fields Climate Change Report 2021 CCR 21 2021 152 189 465 474 1,280 19 64 3 107 193 1.23 5.21 1.78 5.69 13.90 4.94 4.94 6.10 7.33 5.66 30 1241 43 144 341 16% 15% 14% 25% 14% 52 425 9 302 788 27 106 493 302 927 54 245 34 209 542 317 460 1,710 777 697 2020 147 174 399 476 1,197 14 54 2 115 185 1.02 4.70 1.52 5.89 13.13 4.92 4.10 6.69 7.86 5.64 23 84 29 121 257 15% 12% 12% 23% 16% 29 364 7 357 756 33 97 415 304 850 41 232 29 216 518 299 400 1,870 882 690 2019 148 211 436 457 1,253 17 56 2 115 190 1.15 3.91 1.65 5.79 12.50 3.93 4.05 7.42 7.96 5.67 29 81 32 158 300 17% 13% 13% 33% 20% 33 282 6 361 682 39 120 463 307 929 61 171 27 225 484 246 420 2,111 918 730 2018 150 247 450 437 1,284 15 52 2 114 184 1.08 3.14 1.69 5.71 11.63 3.45 3.56 10.76 8.10 5.64 26 78 33 164 302 16% 15% 13% 37% 21% 29 215 6 349 599 33 141 436 297 907 63 152 25 243 484 197 400 2,813 915 730 Statistic and assurance 2017 151 282 498 435 1,366 12 59 3 113 188 1.00 3.63 1.90 5.65 12.18 3.25 3.89 6.77 7.95 5.46 22 81 34 120 258 15% 15% 11% 26% 17% 28 235 9 434 705 33 160 493 234 919 49 168 28 240 485 199 420 1,780 939 732 2016 153 287 526 434 1,400 13 71 3 97 183 1.01 3.60 2.01 5.07 11.70 3.75 3.82 6.91 7.09 5.27 21 84 32 153 289 14% 14% 12% 32% 20% 29 233 9 448 719 39 166 526 241 972 45 167 35 203 450 253 430 1,920 963 763 Gold Fields’ carbon footprint – 2021 Statistic and assurance Operation SOUTH AFRICAN REGION INCLUDING OFFICES South Deep Joint Venture Gold Fields Group Service WEST AFRICAN REGION INCLUDING OFFICES Tarkwa Gold Mine Damang Gold Mine Accra office AUSTRALIAN REGION INCLUDING OFFICES St Ives Gold Mine Agnew Gold Mine Gold Fields DHC Proprietary Limited Granny Smith Gold Mine Gruyere Management Proprietary Limited Perth office SOUTH AMERICAN REGION INCLUDING OFFICES Cerro Corona Gold Mine Lima office GROUP TOTAL Operation SOUTH AFRICAN REGION INCLUDING OFFICES South Deep Joint Venture Gold Fields Group Service WEST AFRICAN REGION INCLUDING OFFICES Tarkwa Gold Mine Damang Gold Mine Accra office AUSTRALIAN REGION INCLUDING OFFICES St Ives Gold Mine Agnew Gold Mine Gold Fields DHC Proprietary Limited Granny Smith Gold Mine Gruyere Management Proprietary Limited Perth office SOUTH AMERICAN REGION INCLUDING OFFICES Cerro Corona Gold Mine Lima office Diesel: haulage and other Diesel: power generation Petrol Liquid petroleum gas Gas for power LNG Blasting agents Gas for process (pipeline natural gas) Acetylene Total scope 1 emissions Total scope 2 emissions Total scope 1 and 2 emissions Scope 1 – 2 emissions (tCO2e) – 2021 8,592 8,587 5 288,605 207,040 81,481 84 169,220 50,529 24,910 32,882 60,899 50,483 50,456 27 516,899 2,166 2,166 2,867 317 704 1,846 5,033 140 140 78 78 218 3,180 323 2,856 1 2,828 1,198 750 861 20 213 213 245,812 32,209 84,706 128,897 6,221 245,812 318 318 4,976 4,119 857 2,924 196 402 377 1,949 1,479 1,479 9,697 2,613 2,613 1,339 (0) 1,339 15 15 20 10 10 7 2 1 1 3 3 3 8,924 8,920 5 301,699 214,105 87,369 225 424,998 51,925 58,588 119,531 194,953 52,255 52,228 27 493,117 493,050 66 301,656 204,617 96,791 247 105,641 105,539 0 0 0 102 26,554 26,554 502,041 501,970 71 603,355 418,722 184,160 472 530,639 157,464 58,588 119,531 194,953 102 78,810 78,783 27 3,952 45 787,877 926,968 1,714,845 Scope 3 emissions (tCO2e) – 2021 Total purchased goods and services Total fuel and energy-related activities Upstream transport and distribution Waste generated Total business travel 15,759 15,757 1 61,259 47,001 14,236 22 111,677 43,318 19,913 14,115 34,332 15,454 15,454 15,986 15,984 2 142,710 110,464 32,185 61 120,991 18,618 16,317 24,990 61,063 3 37,049 37,043 6 171 171 0 2,980 2,221 757 1 3,322 992 601 566 1,162 925 925 0 7,397 344 344 774 686 88 501 248 18 102 133 120 120 66 44 22 336 268 67 1 6,505 364 1,686 2,228 2,227 424 424 Employee commuting 1,013 1,013 0 481 298 184 0 869 210 127 0 239 72 221 168 168 0 Downstream transport and distribution Processing of sold products End-of-life treatment of sold product Total scope 3 emissions 27 27 6 4 2 22 8 4 5 5 8 8 62 100 100 143 96 47 210 72 41 51 45 24 24 477 200 200 286 192 94 419 144 82 103 91 48 48 953 33,665 33,639 26 208,974 161,229 47,659 86 244,516 63,974 38,790 0 42,399 99,129 224 54,221 54,214 6 541,375 GROUP TOTAL 204,149 316,737 1,739 7,330 2,531 The following categories of Scope 3 emissions are zero Category Comment Capital goods Upstream leased assets Use of sold products Downstream leased assets Franchises Investments This is reported as zero as it is not applicable for reporting This is reported as zero because energy use after reﬁning of gold is assumed to be negligible No franchises, therefore zero No franchises, therefore zero Gold Fields Climate Change Report 2021 CCR 22 Statistic and assurance TCFD Index TCFD RECOMMENDATION WHERE DISCLOSED IN THIS REPORT PAGES OTHER LINKAGES1 GOVERNANCE – Disclose the organisation’s governance around climate-related risks and opportunities a. Describe the Board’s oversight of climate-related risks and opportunities. b. Describe management’s role in assessing and managing climate-related risk and opportunities. • Climate change leadership and advocacy • CEO’s statement • SHSD Chair’s statement • Governance and management • Climate change targets and highlights • Climate change leadership and advocacy • Governance and management • Gold Fields’ climate-related policy statements and commitments • Our decarbonisation journey • Renewable energy • Climate change risks and opportunities • Climate change risk and vulnerability assessments 3 – 5 3, 5 – 12, 16 – 20 STRATEGY – Disclose the actual and potential impacts of climate-related risks and opportunities on the organisation’s businesses, strategy and ﬁnancial planning where such information is material a. Describe the climate-related risks and opportunities the organisation has identiﬁed over the short, medium and long term. • Renewable energy • Climate change risks and opportunities • Transitionary risks • Climate change risk and vulnerability assessments 10, 12, 16 – 20 IAR – Governance and Leadership AFR – Responsibilities of the SHSD Committee IAR – Risks and opportunities IAR – CEO’s report IAR – Our ESG priorities and 2030 targets IAR – Environmental stewardship IAR – Water management IAR – Climate change and energy management IAR – Tailings Management www.goldﬁelds.com/energy-and-climate-change.php IAR – Risks and opportunities IAR – CEO’s report IAR – Water management IAR – Climate change and energy management IAR – Tailings Management b. Describe the impact of climate-related risks and opportunities on the organisation’s business, strategy and ﬁnancial planning. c. Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario. • CEO’s statement • SHSD Chair’s statement • Renewable energy • CEO’s statement • SHSD Chair’s statement • Our decarbonisation journey • Climate change risks and opportunities • Transitionary risks • Climate change risk and vulnerability assessments 10 – 20 IAR – Risks and opportunities IAR – CEO’s report www.goldﬁelds.com/energy-and-climate-change.php 4, 8 – 9 IAR – Climate change and energy management RISK MANAGEMENT – Disclose how the organisation identiﬁes, assesses and manages climate-related risks a. Describe the organisation’s process for identifying and assessing climate-related risks. b. Describe the organisation’s processes for managing climate-related risks • Climate change risks and opportunities • Transitionary risks • Climate change risks and opportunities • Transitionary risks • Climate change risk and vulnerability assessments 16 – 20 • Climate change risk and vulnerability assessments 16 – 20 c. Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organisation’s overall risk management. • Climate change risks and opportunities • Transitionary risks • Climate change risk and vulnerability assessments • Water stewardship • Tailings storage facilities 14 – 20 IAR – Risks and opportunities www.goldﬁelds.com/risk-materiality.php IAR – Risks and opportunities www.goldﬁelds.com/risk-materiality.php IAR – Risks and opportunities www.goldﬁelds.com/risk-materiality.php METRICS AND TARGETS a. Disclose the metrics used by the organisation to assess climate-related risks and opportunities in line with its strategy and risk management process. • Climate change targets and highlights • Gold Fields’ climate-related policy statements b. Disclose scope 1, 2 and if appropriate scope 3 GHG emissions and the related risks c. Describe the targets used by the organisation to manage climate-related risks and opportunities and performance against targets. and commitments • Our decarbonisation journey • Energy and carbon management • Regional and Group energy carbon performance • Climate change targets and highlights • CEO’s statement • Governance and management • Gold Fields’ climate-related policy statements and commitments 1 IAR = 2021 Integrated Annual Report; AFR = 2021 Annual Financial Report (including Governance Report); GRI = Global Reporting Initiative Content Index • Energy and carbon management • Water stewardship • Regional and Group energy carbon performance • Gold Fields’ carbon footprint – 2021 3, 6 – 9, 13 – 14, 21 – 22 IAR – Risks and opportunities www.goldﬁelds.com/risk-materiality.php www.goldﬁelds.com/energy-and-climate-change.php • Gold Fields’ carbon footprint – 2021 13, 21 – 22 IAR – Environmental stewardship IAR – Climate change and energy management • Our decarbonisation journey • Energy and carbon management • Water stewardship 3 – 9, 13 – 14, 21 – 22 IAR – Environmental stewardship IAR – Climate change and energy management www.goldﬁelds.com/energy-and-climate-change.php Gold Fields Climate Change Report 2021 CCR 23 External assurance statement INDEPENDENT ASSURANCE STATEMENT TO THE BOARD OF DIRECTORS OF GOLD FIELDS LIMITED ERM Southern Africa (Pty) Ltd (‘ERM’) was engaged by Gold Fields Limited (‘Gold Fields’) to provide reasonable assurance in relation to selected sustainability information set out below and presented in Gold Fields’ 2021 Climate Change Report for the year ended 31 December 2021 (the ‘Report’). Engagement summary ASSURANCE SCOPE Whether the 2021 data, for the period 1 January 2021 to 31 December 2021, for the following selected performance indicators disclosed in the Report are fairly presented, in all material respects, with the reporting criteria: • Electricity Purchased [GWh] – page 21 • Diesel Consumption [ML] – page 21 • Total Energy Consumed [PJ] – page 21 • Total CO2-equivalent emissions, scope 1,2 and 3 [kt CO2e] – page 21 – 22 • Total CO2-equivalent emissions avoided from initiatives [kt CO2e] – page 13 • Total energy saved from initiatives [TJ] – page 13 • Total water consumed (withdrawal – discharge) [GL] – page 14 • Total water recycled/re-used per annum [GL] – page 14 REPORTING CRITERIA • Gold Fields GRI Standards Sustainability Reporting Guideline, V28 (October 2021) • Gold Fields Group Protocol for Energy and Carbon Performance Data Management, V4 (October 2021) ASSURANCE STANDARD ERM CVS’ assurance methodology, based on the International Standard on Assurance Engagements (ISAE) 3000 (Revised) and ISAE 3410 (for GHG Statements) LEVEL OF ASSURANCE Reasonable Assurance RESPECTIVE RESPONSIBILITIES Gold Fields is responsible for preparing the Report, including the collection and presentation of the disclosures covered by the scope of our engagement, the design, implementation and maintenance of related internal controls over the information and data, as well as the integrity of its website. ERM’s responsibility is to provide an opinion on the selected information based on the evidence we have obtained and exercising our professional judgement, on whether the information covered by the scope of our engagement has been prepared in accordance with the stated criteria. ERM disclaims any liability for any decision a person or entity may make based on this Assurance Statement. OUR ASSURANCE ACTIVITIES We planned and performed our work to obtain all the information and explanations that we believe were necessary to reduce the risk of material misstatement to low, and therefore provide a basis for our assurance opinion. A multi-disciplinary team of sustainability and assurance specialists performed the assurance activities, including, amongst others: • Testing the processes and systems, including internal controls, used to generate, consolidate and report the selected sustainability information; • Reviewing the suitability of the internal reporting guidelines, including conversion factors used; • In-person visits to interview responsible staff and verify source data and other evidence at the following sites: – Agnew Mine, Australia; and – Granny Smith Mine, Australia • Remote reviews to verify source data for the following sites: – Gruyere Mine, Australia; – St Ives Mine, Australia; – Cerro Corona Mine, Peru; – South Deep Mine, South Africa; – Tarkwa Mine, West Africa; and – Damang Mine, West Africa • An analytical review of the year-end data submitted by the sites listed above, and testing of the accuracy and completeness of the consolidated 2021 Group data for the selected indicators; and • Reviewing the presentation of information relevant to the scope of our work in the Report to ensure consistency with our ﬁndings. 1 ERM's assurance coverage of Scope 3 emissions included the following categories: Purchased Goods & Services, Fuel & Energy Related Activities, and Business Travel; representing a coverage of 97% of total Scope 3 emissions. ERM also veriﬁed the overall Scope 3 emissions consolidation. Statistic and assurance OUR ASSURANCE OPINION In our opinion, the selected sustainability performance information included in the Assurance Scope and presented in the Report, are prepared, in all material respects, in accordance with the Reporting Criteria. EMPHASIS OF MATTER Without affecting our opinion, we draw attention to the explanatory notes provided by Gold Fields on page 13 of the Report relating to the total energy savings for Tarkwa mine and their recognition as exceptional savings by the Gold Fields Group Head of Energy and Carbon. THE LIMITATIONS OF OUR ENGAGEMENT The reliability of the assured data is subject to inherent uncertainties given the methods for determining, calculating or estimating the underlying information. It is important to understand our assurance opinions in this context. Our independent Assurance Statement provides no assurance on: • The maintenance and integrity of Gold Fields’ website, including controls used to achieve this integrity, and in particular, whether any changes may have occurred to the information since it was ﬁrst published; or • Any other information in the Report or on Gold Fields’ website for the current reporting period; or on the baseline values used for presenting performance against targets; or prospective information including ambitions, plans, expectations or their achievability. FORCE MAJEURE – COVID-19 As a result of travel restrictions arising from the current global pandemic, we were unable to carry out certain assurance activities as originally planned and agreed with Gold Fields. In-person visits to selected operations and the head office were replaced with remote reviews via teleconference and video calls for this year’s assurance engagement. While we believe these changes do not affect our reasonable assurance opinions above, we draw attention to the possibility that if we had undertaken in-person visits we may have identiﬁed errors and omissions in the assured information that we did not discover through the alternative approach. OUR OBSERVATIONS We have provided Gold Fields with a separate detailed Management Report. Without affecting the opinion presented above, we have the following observations: • Operations were found to have improved documentation retention processes for emissions avoided and energy saved from their initiatives, although there is an opportunity for Gold Fields to apply an improved and consistent approach to the deﬁnition and calculation approach for these indicators, in line with good practice for energy measurement and veriﬁcation. • Attention should be given to improving the implementation of change management processes at selected Australian sites to maintain continuity in data management and reporting processes across environmental subject matters, especially when there are changes in personnel involved in these processes. Jonathan van Gool Engagement Partner, ERM Southern Africa 29 March 2022 ERM Southern Africa (Pty) Ltd, Johannesburg, South Africa www.erm.com jonathan.vangool@erm.com Gareth Manning Review Partner, ERM CVS, London 29 March 2022 ERM Southern Africa (Pty) Ltd and ERM Certiﬁcation and Veriﬁcation Services (CVS) are members of the ERM Group. All employees are subject to ERM’s Global Code of Business Conduct and Ethics. ERM CVS is accredited by the United Kingdom Accreditation Service (UKAS) and our operating system is designed to comply with ISO 17021:2011. We have policies and procedures in place covering quality, independence and competency. In line with established best practice for nonﬁnancial assurance, this engagement was undertaken by a team of assurance and sustainability professionals. The work that ERM CVS conducts for clients is solely related to independent assurance activities and auditor training. Our established management processes are designed and implemented to ensure the work we undertake with clients is free from organisational and personal conﬂicts of interest or bias. The ERM and ERM CVS staff that have undertaken this assurance engagement provide no consultancy related services to Gold Fields Limited in any respect. Gold Fields Climate Change Report 2021 CCR 24 Glossary, administration, corporate information, forward-looking statement and disclaimer GLOSSARY ADMINISTRATION AND CORPORATE INFORMATION FORWARD-LOOKING STATEMENTS Statistic and assurance This glossary contains key definitions based on the IPCC’s Working Group II Report, Summary for Policymakers as contribution to the Sixth Assessment Report (IPCC 2022, pages SPM 4 and 5). Adaptation Adaptation limits Exposure Hazard Resilience Risk Human systems adapt by adjusting to actual or expected climate and its effects to lessen harm or take advantage of beneﬁcial opportunities. Ecological systems adapt by adjusting to the actual climate and its effects, which may be facilitated by human intervention. The point at which the needs of human or ecological systems can no longer be secured from intolerable risks through adaptive actions. Two limits can be distinguished: • Hard adaptation limit: the intolerable risks can no longer be avoided through adaptation actions • Soft adaptation limit: intolerable risk can be avoided through options, but these are currently not available The existence of people, economic, social or cultural assets, infrastructure, livelihoods, ecosystems and their functions and the like, in places and settings that could be negatively affected. The potential for the occurrence of a natural or human-induced physical event or trend with adverse effects, such as loss of life, injury or health impacts, loss and damage to property, ecosystems and environmental resources. Any system’s ability to bounce back, cope and return to a previous state after a disturbance in order to maintain its essential function, identity and structure and to still be able to adapt, learn and transform. Risk can be used as a valuable framework to understand the interlinked and increasingly severe impacts of climate change on human systems, ecosystems and biodiversity. Risk is the potential for negative consequences for human or ecological systems, cognisant of the array of values and objectives underlying these systems. The interactions between climate-related hazards, and the exposure and vulnerability of affected human and ecological systems gives rise to risk. Vulnerability The tendency, or exposure to be negatively affected, determined by a system’s level of sensitivity to harm and its lack of capacity to cope and adapt. Sponsor J.P. Morgan Equities South Africa Proprietary Limited 1 Fricker Road Illovo, Johannesburg 2196 South Africa Gold Fields Limited Incorporated in the Republic of South Africa Registration number 1968/004880/06 Share code: GFI Issuer code: GOGOF ISIN: ZAE 000018123 Investor enquiries Avishkar Nagaser Tel: +27 11 562 9775 Mobile: +27 82 312 8692 email: avishkar.nagaser@goldfields.com Thomas Mengel Tel: +27 11 562 9849 Mobile: +27 72 493 5170 email: thomas.mengel@goldfields.com Media enquiries Sven Lunsche Tel: +27 11 562 9763 Mobile: +27 83 260 9279 email: sven.lunsche@goldfields.com Listings JSE/NYSE/GFI Directors: CA Carolus (Chair), CI Griffith** (Chief Executive Officer), PA Schmidt** (Chief Financial Officer), A Andani#, PJ Bacchus*, TP Goodlace, JE McGill^, SP Reid^, PG Sibiya, YGH Suleman. ˆ Australian * British # Ghanaian ** Executive Director Company Secretary Anré Weststrate Tel: +27 11 562 9719 Fax: +086 720 2704 email: anré.weststrate@goldfields.com Registered Office Johannesburg Gold Fields Limited 150 Helen Road Sandown Sandton 2196 Postnet Suite 252 Private Bag X30500 Houghton 2041 Tel: +27 11 562 9700 Fax: +27 11 562 9829 Office of the United Kingdom Secretaries London St James’s Corporate Services Limited Suite 31, Second Floor 107 Cheapside London EC2V 6DN United Kingdom Tel: +44 (0) 20 7796 8644 email: general@corpserv.co.uk American depository receipts transfer agent Shareholder correspondence should be mailed to: BNY Mellon PO Box 505000 Louisville, KY 40233 – 5000 Overnight correspondence should be sent to: BNY Mellon 462 South 4th Street, Suite 1600 Louisville, KY40202 email: shrrelations@cpushareownerservices.com Phone numbers Tel: 888 269 2377 Domestic Tel: 201 680 6825 Foreign www.goldfields.com Gold Fields Climate Change Report 2021 CCR 25 This report, or the documents referred to herein, contains forward-looking statements within the meaning of section 27A of the U.S. Securities Act of 1933 (the Securities Act) and section 21E of the US Securities Exchange Act of 1934 (the Exchange Act) with respect to Gold Fields’ financial condition, results of operations, business strategies, operating efficiencies, competitive position, growth opportunities for existing services, plans and objectives of management, markets for stock and other matters. Such forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “anticipates”, “aims”, “continues”, “expects”, “hopes”, “may”, “will”, “would” or “could” or, in each case, their negative or other various or comparable terminology. These forward-looking statements, including, among others, those relating to Gold Fields’ future business prospects, revenues and income, and including any climate change-related statements, targets and metrics, wherever they may occur in this report, or the documents referred to herein, are necessary estimates reflecting the best judgement of Gold Fields’ senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Consequently, these forward-looking statements should be considered in light of various important factors, including those outlined in this report, or the documents referred to herein. Gold Fields undertakes no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events. Refer to Gold Fields’ comprehensive forward-looking statements on www.goldfields.com. DISCLAIMER This report is focused on climate-related risks and opportunities and aims to follow the TCFD recommendations. It includes information on scope 1 and 2 carbon emissions. Climate related data is not yet of the same quality as data available in the context of other financial information and over time is likely to improve. Understanding of approaches to climate transition and physical risk is rapidly evolving. Some of the content of this report is forward looking and developed based on current information and belief and is subject to future risks, dependencies and uncertainties. Gold Fields also publish corporate sustainability disclosure on other sustainability topics in its 2021 Integrated Annual Report. www.goldfields.com

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