July 2018

Monthly Operational Market Update – 31 March 2018

Gemfields shareholders are advised that the Company has released information about its business related and operational results and financial position up to and including March 2018. The figures have been produced on a monthly-basis for both Gemfields’ 75% owned Kagem emerald mine and Fabergé – the iconic luxury brand. Gemfields will follow up with its Montepuez ruby mine figures in due course.

Finalisation announcement regarding name change

Shareholders are referred to the SENS released on 26 June 2018, wherein the results of the Extraordinary General Meeting (“EGM”) were announced. Special Resolution number 2 effected the name change from Pallinghurst Resources Limited to Gemfields Group Limited. The new ISIN GG00BG0KTL52, the new JSE share code GML and the name Gemfields Group Limited will commence trading on the 11 July 2018, from a JSE perspective.

Gemfields’ Ethiopia Operations Overrun

Gemfields regrets to advise that on Friday 29th June 2018, a mob estimated at between 300 and 500 persons overran the operations of Web Gemstone Mining plc (“WGM”), an Ethiopian company in which Gemfields holds a 75% interest. The remaining 25% interest belongs to 50 individuals, either individually or through a mining cooperative comprising of local villagers, the majority of which are drawn from the nearby village of Web.