GOLD FIELDS LIMITED - GOLD FIELDS SECURES ENVIRONMENTAL APPROVAL FOR THE WINDFALL PROJECT

GOLD FIELDS SECURES ENVIRONMENTAL APPROVAL FOR THE WINDFALL PROJECT

Gold Fields Limited
Reg. No. 1968/004880/06)
Incorporated in the Republic of South Africa)
JSE, NYSE, DIFX Share Code: GFI
ISIN Code: ZAE000018123
(“Gold Fields” or the “Company”)

GOLD FIELDS SECURES ENVIRONMENTAL APPROVAL FOR THE WINDFALL PROJECT

Gold Fields and its wholly owned subsidiary, Windfall Mining Group Inc.
are pleased to announce a significant milestone for the Windfall Project
(“Windfall” or “the Project”), namely issuance of the Certificate of
Authorisation as part of the Environmental Impact Assessment (EIA)
process.

The Certificate of Authorisation, which was issued by Québec's Ministry
of the Environment, the Fight Against Climate Change, Biodiversity
Protection, Wildlife and Parks on 30 October 2026, is the principal
environmental authorisation confirming that Windfall has completed the
environmental and social impact assessment and review process applicable
to the Project under Chapter II of Québec's Environment Quality Act.

It provides the authorisation required to proceed to construction and
full project development, including commencement of construction
activities in accordance with applicable conditions, commitments and
regulatory requirements.

The authorisation follows the signing of the Impact and Benefit Agreement
(the “Uukiimau Agreement”) with the Cree First Nation of Waswanipi, the
Cree Nation Government and the Grand Council of the Crees (“Cree First
Nation”) in June 2026.

Windfall is one of the highest-grade gold projects in Canada and is
expected to produce approximately 300,000 ounces of gold per year once
ramped up, with considerable growth prospects along strike and down
plunge.

Gold Fields will progress the Final Investment Decision (FID) for the
Project, subject to Board approval, and expects to publish by February
2027, with its 2026 provisional results:
    • an updated construction schedule;
    • capital estimate for development of the Project; and
    • the Windfall Mineral Resources and Mineral Reserves.

Gold Fields will also progress remobilisation and recommencement of site
activities at Windfall, including underground activities which were paused
after the expiry of the bulk-sample exploration permit at the end of
August 2026. Early civil works and construction of camp facilities within
the approved mandate awarded to Windfall from the Board of Directors will
also begin shortly.
Mike Fraser, CEO of Gold Fields said: “Receiving the Certificate of
Authorisation for Windfall is a major milestone for Gold Fields and for
one of Canada’s highest-grade development-stage gold projects.

The Uukiimau Agreement and the Certificate of Authorisation demonstrate
how responsible mining can be advanced through respect, transparency and
shared value creation.

Achieving these two important milestones reflects years of environmental
and social studies, technical review, engagement with the Cree First
Nation and host communities as well as collaboration with Government
authorities. We thank the Government of Québec, Comité d’examen (“COMEX”)
and the Cree First Nation whose rigorous review and partnership have
contributed to this important milestone for the Project.

We will now focus on finalising our execution plan and moving Windfall
towards construction safely and responsibly, so that it becomes a long-
life, low-cost production centre that delivers long-term value for the
Eeyou Istchee James Bay, Québec and our shareholders.”

Background
Windfall is a high-grade underground gold project in the Eeyou Istchee
James Bay region of Québec, on the traditional territory of the Cree First
Nation of Waswanipi.

Gold Fields became the sole owner of Windfall in October 2024 through its
acquisition of Osisko Mining Inc., having previously held a 50% interest
in the Windfall joint venture.

The Project’s environmental and social impact assessment (“ESIA”) was
submitted to provincial and federal authorities in March 2023 and assessed
under the environmental and social impact assessment and review under
Chapter II of Quebec’s Environment Quality Act and the James Bay and
Northern Québec Agreement and included public and Cree community
consultation.

In June 2026, Gold Fields signed the Uukiimau Agreement, an Impact and
Benefit Agreement with the Cree First Nation of Waswanipi, the Cree Nation
Government and the Grand Council of the Crees. The agreement applies for
the life of the operation and covers training, employment, business
opportunities, environmental monitoring and financial participation.

The mine will be powered primarily by hydroelectricity supplied via a
transmission line owned and operated by the Cree First Nation of
Waswanipi.

Windfall represents a district scale opportunity for Gold Fields. Beyond
the deposit, Gold Fields holds a land package of approximately 2,500 km²
in the Urban-Barry and Quévillon areas. The regional exploration programme
is advancing targets across the district, with the aim of discovering
additional ounces.
ENDS
2 November 2026

For investor enquiries, contact:
Jongisa Magagula
Tel: +27 11 562 9775
Email: jongisa.magagula@goldfields.com

Shilan Modi
Tel: +27 79 500 5782
Email: shilan.modi@goldfields.com

For media enquiries, contact:
Kershnee Govender
Tel: +27 11 562 9700
Email: Kershnee.Govender@goldfields.com

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd


About Gold Fields
Gold Fields is a globally diversified gold producer with eight operating
mines in Australia, South Africa, Ghana, Chile and Peru and one project
in Canada. Gold Fields has a total attributable annual gold-equivalent
production of 2.4 Moz, proved and probable Gold Mineral Reserves of
48.3 Moz, measured and indicated Gold Mineral Resources of 34.2 Moz
(excluding Mineral Reserves) and inferred Gold Mineral Resources of
12.8 Moz (excluding Mineral Reserves) as at 31 December 2025. Gold Fields’
shares are listed on the JSE and the American depositary shares trade on
the New York Stock Exchange.


Forward looking statements
This announcement contains forward looking statements within the meaning
of the safe harbour provisions of the Private Securities Litigation Reform
Act of 1995. All statements other than statements of historical fact
included in this announcement may be forward looking statements. Forward-
looking statements may be identified by the use of words such as “aim”,
“anticipate”, “will”, “would”, “expect”, “may”, “could”, “believe”,
“target”, “estimate”, “project” and words of similar meaning.

These forward-looking statements, including among others, those relating
to Gold Fields' future business strategy, development activities
(including the approval, permitting, development, operations and final
investment decision relating to the Windfall Project), anticipated
benefits of acquisitions or joint ventures, ability to successfully renew,
and/or extend or retain mining rights, licences or other interests,
business prospects, financial positions, production and operational
guidance, shareholder returns, climate and ESG related statements,
targets and metrics, are necessary estimates reflecting the best judgement
of senior management and involve risks and uncertainties that could cause
actual results to differ materially. By their nature, forward-looking
statements involve risk and uncertainty because they relate to future
events and circumstances and should be considered in light of various
important factors, including those set forth in Gold Fields’ Integrated
Annual Report 2025 filed with the Johannesburg Stock Exchange and the
Annual Report on Form 20-F filed with the United States Securities and
Exchange Commission (SEC) on 30 March 2026 (SEC File no. 001-31318).

To the maximum extent permitted by law, Gold Fields makes no
representation or warranty as to the currency, accuracy, reliability or
completeness of any forward-looking statement contained in this
announcement. Readers are cautioned not to place reliance on such
statements. These forward-looking statements speak only as of the date
they are made and are based on information available to Gold Fields as at
the date of this announcement. Gold Fields and its directors, officers,
employees, advisers, agents and other intermediaries disclaim any
obligation or undertaking to update publicly or release any revisions to
these forward-looking statements, whether to reflect new information,
events or circumstances after the date of this announcement, the
occurrence of future events or otherwise. These forward-looking
statements and any other financial information contained in this
announcement have not been reviewed or reported on by the Company’s
external auditors. This announcement is the responsibility of the Gold
Fields Board of Directors.

Date: 02/11/2026 07:05:00
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