Gold Fields Limited

- No explicit mention of new fundraising through debt or equity in the provided pages. - The company ended the year with net debt of $1.4 billion, including leases of around $500 million, indicating a solid balance sheet. - Executives emphasize maintaining a strong balance sheet to preserve investment-grade credit rating. - They discussed disciplined capital allocation and strong cash flow generation allowing for reinvestment and shareholder returns without needing new fundraising. - No discussions about forthcoming equity issues or debt raising activities were noted. - The focus appears to be on using existing cash flow and capital allocation strategies for growth and returns rather than new fundraising.

- Gold Fields plans total capital expenditure (CapEx) between $1.9 billion and $2.1 billion for 2026, aligned with their Capital Markets Day guidance. - Significant CapEx increases in Australia: - Gruyere: Increase of ~$150 million due to consolidation at 100% ownership. - Granny Smith: Around $100 million for upgrades in ventilation, cooling, and power for accessing Zone 150 ore body. - Agnew: $50 million for tailings paste plant, ventilation, and cooling upgrades. - St Ives: $50 million increase at Invincible complex and material handling system. - Total Australian CapEx in 2026 expected to be close to $1 billion. - Focused investments at Windfall project to advance Final Investment Decision (FID) in mid-2026, including completing environmental approvals and infrastructure readiness. - Continued investments in brownfields exploration ($129 million in 2025) to extend asset life. - Revitalized greenfields program includes $101 million spent in 2025, including $35 million investment in Founders Metals for the Antino Gold project.

- Production guidance for 2026 is targeted between 2.4 million and 2.6 million ounces of gold, reflecting a stable to slightly increased volume. - Continued ramp-up and steady-state production at Salares Norte expected to support output growth. - Windfall project advancement toward Final Investment Decision (FID) planned for mid-2026, aiming for first gold in 2029, positioning for future volume growth. - Reserve replacement was strong in 2025 with a 9% increase, supporting sustainable production volumes going forward. - Portfolio optimization initiatives and brownfields exploration, especially at Windfall and Gruyere, designed to enhance future production profiles. - Greenfields exploration investments ($101 million in 2025) aim to build long-term pipeline and revenue streams. - Acquisition of Gold Road consolidates 100% ownership of Gruyere, enabling full-value capture and growth potential. - Revenue expected to benefit from stable to rising gold prices and production volume growth.

- Production is expected to remain strong with a focus on asset optimization opportunities embedded into 2026 plans (Page 2, 4). - Windfall Project progression towards Final Investment Decision (FID) planned for mid-2026, supporting future growth (Page 5). - Salares Norte ramp-up and steady-state production achieved, with continued near-mine exploration to add reserves (Page 5). - Brownfields exploration spending ($129 million in 2025) resulted in a 9% reserve increase, supporting sustainable production and earnings (Page 5). - Greenfields exploration prioritized ($101 million in 2025), enhancing longer-term growth pipeline (Page 5). - Earnings growth demonstrated by 117% increase in headline earnings to $2.6 billion in 2025 (Page 4). - Adjusted free cash flow nearly quadrupled year-on-year, enabling strong capital allocation for growth and returns (Page 4). - Capital allocation framework balances reinvestment, balance sheet strength, and upper quartile shareholder dividends, supporting sustainable EPS growth (Page 10).

The provided pages from the document "6217120-19929.pdf" do not contain information related to current or expected orderbook or pending orders. The content primarily discusses: - Labor cost pressures and contractor turnover at Gold Fields operations, especially in Australia. - Royalty changes and lease negotiations in Ghana. - Capital expenditures and growth strategies, including projects like Windfall, Gruyere, and others. - Shareholder returns including dividends and buybacks. - Operational performance, exploration programs, and project development updates. If you need specific details on orderbook or pending orders, those are not mentioned or detailed in the available pages. Please provide additional sections if you want information on that topic.