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Reviewed financial results, Final & special dividend declaration for the twelve months ended 31 December 2023
Gold Fields Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1968/004880/06)
JSE, NYSE, DIFX Share Code: GFI
ISIN: ZAE000018123
("Gold Fields" or "the Company")
REVIEWED FINANCIAL RESULTS, FINAL DIVIDEND AND ADDITIONAL SHAREHOLDER RETURNS DECLARATION
FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2025
Gold Fields Limited (NYSE & JSE: GFI) today announces profit attributable to owners of the
parent for the year ended December 2025 of US$3,567.4 million (US$3.99 per share). This is
an increase compared to the year ended 31 December 2024 when profit attributable to the
owners was US$1,245.0 million (US$1.39 per share).
A final dividend number 103 of 1850 SA cents per share (gross) (2024: 700 SA cents per share)
is payable on 16 March 2026, giving a total dividend (including interim) for the year ended
31 December 2025 of 2550 SA cents per share (gross) (2024: 1,000 SA cents per share).
In addition to the base dividend, Gold Fields will distribute US$353 million in additional
returns. This will comprise US$253 million in special dividends and US$100 million in share
buybacks, broadly aligned with the preferences and composition of our shareholder register.
Combined with the base dividend, this results in a total distribution to shareholders of
US$1.7 billion which equates to 54% of adjusted free cash flow1.
Key Statistics
United States Dollar
Quarter Year ended
December September December December December
Figures in millions unless otherwise stated 2025 2025 2024 2025 2024
Gold-equivalent-attributable oz(000) 681 621 644 2,438 2,071
Gold-equivalent-managed oz(000) 699 638 666 2,508 2,149
Gold-equivalent-managed oz(000) 694 683 665 2,503 2,151
Tonnes milled/treated 000 11,816 10,882 10,719 43,592 40,648
Revenue US$/oz 4,184 3,468 2,658 3,496 2,418
Cost of sales before gold inventory change
and amortisation and depreciation US$/tonne 67 63 58 62 54
AISC2 US$/oz 1,673 1,557 1,410 1,645 1,629
Total AIC3 US$/oz 1,969 1,835 1,575 1,927 1,873
Net debt US$m 1,442 791 2,086 1,442 2,086
Net debt (excluding lease liabilities) US$m 959 360 1,635 959 1,635
Net debt to adjusted EBITDA ratio 0.26 0.17 0.73 0.26 0.73
Adjusted free cash flow US$m 2,970 605
Profit attributable to owners of the parent US$m 3,567.4 1,245.0
Profit per share attributable to owners of
the parent USc.p.s. 399 139
Headline earnings attributable to owners of
the parent US$m 2,575.8 1,188.4
Headline earnings per share attributable to
owners of the parent USc.p.s. 288 133
Normalised profit4 attributable to owners
of the parent US$m 2,684.4 1,226.7
Normalised profit per share attributable to
owners of the parent USc.p.s. 300 137
At 31 December 2025, all operations are wholly owned except for Tarkwa and Damang in Ghana (90.0%),
South Deep in South Africa (93.10%) and Cerro Corona in Peru (99.5%).
Gold produced and sold throughout this report includes copper gold equivalents of approximately 3%
and silver gold equivalents of approximately 1% of Group production, respectively.
AISC and total AIC in the key statistics table include all Gold Fields operations, projects
and offices.
Figures may not add as they are rounded independently
1 Cash flow from operating activities less net capital expenditure, contributions to environmental
trust funds and payments of lease liabilities
2 All-in sustaining costs
3 All-in costs
4 Profit excluding gains and losses on foreign exchange, financial instruments, non-recurring
NRV adjustments to stockpiles and non-recurring items after taxation and non-controlling
interest effect
Final and special dividend declaration
Final dividend
In line with the Company's dividend policy, the Board has approved and declared a
final dividend number 103 of 1850 SA cents per ordinary share (gross) in respect
of the year ended 31 December 2025.
Special dividend
In addition the company declared a special dividend of 450 cents per share for the
year ended 31 December 2025. The payment of the special dividend has been approved
by the South African Reserve Bank.
In accordance with paragraph 7.23 of the JSE Listings Requirements, the following
additional information is disclosed:
- The special and final dividend has been declared out of income reserves;
- The local dividend withholding tax of 20% (twenty per cent) will be applicable
to both special and final dividend
- Gold Fields currently has 895,024,247 ordinary shares in issue
- Gold Fields' income tax number is 9160035607
- The gross final dividend amount is 1850 SA cents per ordinary shareholders exempt
from dividends tax
- The net final dividend amount is 1480 SA cents per ordinary share for shareholders
liable to pay the dividends tax
- The gross special dividend amount is 450 SA cents per ordinary shareholders exempt
from dividends tax
- The net special dividend amount is 360 SA cents per ordinary share for shareholders
liable to pay the dividends tax
Shareholders are advised of the following dates in respect of the special and final dividend:
- Declaration date: Thursday, 19 February 2026
- Last date to trade cum-dividend: Tuesday, 10 March 2026
- Sterling and US Dollar conversion date: Wednesday, 11 March 2026
- Shares commence trading ex-dividend: Wednesday, 11 March 2026
- Record date: Friday, 13 March 2026
- Payment of dividend: Monday, 16 March 2026
Share certificates may not be dematerialised or rematerialised between Wednesday 11 March 2026
and Friday 13 March 2026, both dates inclusive.
About Gold Fields
Gold Fields Limited is a globally diversified gold producer with nine operating mines in Australia,
Ghana, Peru, Chile and South Africa and one project in Canada.
This short-form announcement is the responsibility of the directors and is only a summary of the
information contained in the condensed consolidated financial statements of Gold Fields for the
year ended 31 December 2025 ("full results"). The full results can be found on the company's
website at www.goldfields.com and on the JSE cloudlink at:
https://senspdf.jse.co.za/documents/2026/jse/isse/GFIE/FY25Result.pdf
Any investment decision should take into account the full results announcement available
on the JSE cloudlink and on the company's website in addition to other important information
published by the Company. The condensed consolidated financial statements of Gold Fields for
the year ended 31 December 2025 have been reviewed by the company's auditor,
PricewaterhouseCoopers Inc., who expressed an unqualified review conclusion thereon.
By order of the board
YGH Suleman (Chair)
19 February 2026
YGH Suleman+ (Chairperson) MJ Fraser* (Chief Executive Officer) AT Dall* (Chief Financial Officer)
A Andani#+ ZBM Bassa+ MC Bitar@+ TP Goodlace+ SL McCrae^^+ JF MacKenzie*+ JE McGill^+ MI Rawlinson*+
PG Sibiya+ CAT Smit+
^Australian *British @Chilean #Ghanaian ^^Canadian
+Independent Director *Non-independent Director
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd
Company secretary:
A.Weststrate
Transfer secretaries:
Computershare Investor Services (Proprietary) Limited
www.goldfields.com
Date: 19-02-2026 07:05:00
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