October 3, 2023

Notification of major holdings

In compliance with paragraph 3.83(b) of the JSE Listings Requirements and AIM Rule 17, shareholders are advised that Gemfields received formal notification on 3 October 2023 from Rozendal Associate Holdings (“Rational Expectations”) that it, combined with related parties, held a total of 156,434,855 ordinary shares in the Company as of 26 September 2023, equivalent to 12.83 per cent of the total issued shares in the Company (excluding treasury shares). Shareholders are advised that Rational Expectations’ shareholding represents 12.89 per cent of the total issued shares in the Company that carry voting rights as at today’s date, as the Company currently holds 8,370,432 treasury shares.

Transaction in Own Shares and Total Voting Rights

Gemfields announces that on Monday 2 October 2023, the Company purchased 233,308 of its own ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) all at a price of ZAR3.10. These Ordinary Shares will be held as treasury shares before being periodically cancelled. Any cancellations will be announced separately.