May 2023

On 12 May 2023, the Company announced that Chandana Venkata Suresh, a PDMR of the Company, had exercised 1,800,000 share options at an exercise price of ZAR2.30 per ordinary share of USD0.00001 each in the company (“Ordinary Shares”). Shareholders are advised that Mr Suresh also exercised 522,064 share options at an exercise price of ZAR 2.97 per Ordinary Share on the same date but this was not included in the Company’s announcement on 12 May 2023 due to an administrative error. These shares were however admitted to trading on 15 May 2023.

Gemfields announces that on 17 May 2023, the Company purchased 1,729,550 of its own ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) at a price of ZAR3.45. These Ordinary Shares will be held as treasury shares before being periodically cancelled. Any cancellations will be announced separately.

In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 3,282,064 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by group employees and Chandana Venkata Suresh (a person discharging managerial responsibilities, or “PDMR”).