November 13, 2020

Proposed Sale of Stake in Sedibelo Platinum

Gemfields Group Limited (“Gemfields”) announces that it has commenced a sale process for its 23.65% equity holding in Pallinghurst Ivy Lane Capital S.à r.l, a company incorporated in Luxembourg (“Ivy Lane”). Ivy Lane in turn owns 27.64% of Sedibelo Platinum Mines Limited (“SPM”) giving Gemfields an effective and indirect interest in SPM of approximately 6.54%. As previously announced, SPM is not considered a core part of Gemfields’ strategy.