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Document Release

Change of Segment on Main Board of the JSE Limited

Gemfields’ Board of Directors is pleased to announce that the Company’s application to transfer its market segmentation on the Main Board of the JSE Limited (“JSE”), from the ‘Prime Segment’ to the ‘General Segment’, has been approved by the JSE with effect from Tuesday, 11 March 2025. The ‘General Segment’ aims to offer a suitable and efficient level of regulation tailored to the size and liquidity of issuers on the Main Board of the JSE.

Operational Update to 31 December 2024

Gemfields shareholders are advised that the Company has released information about its operational results and financial position to 31 December 2024. These unaudited figures have been produced on a monthly basis for Gemfields’ 75%-owned Kagem emerald mine, its 75%-owned Montepuez ruby mine and Fabergé, the iconic luxury brand.

PDMR Dealing, Issue of Equity and Total Voting Rights

In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 665,000 new ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”) following the exercise of share options by Kartikeya Parikshya (a person discharging managerial responsibilities, or “PDMR”).

Reviewed Interim Report for the six months to 30 June 2024

Gemfields is pleased to announce the Company’s financial results for the six months to 30 June 2024 (“2024 Interim Results”). Highlights: Total revenue for the six months to 30 June 2024 of USD 128.0 million. EBITDA for the six months to 30 June 2024 of USD 49.6 million (an EBITDA margin of 38.8% for the Group). Free cash flow before working capital movements for the six months to 30 June 2024 of USD 3.3 million due primarily to significant investment programme. Group’s net debt position at 30 June 2024 was USD 44.4 million (before USD 65.5 million of auction receivables and which are now 100% collected).

Auction Results – Commercial-Quality Emeralds

Gemfields announces the results of an auction comprised of commercial-quality rough emeralds held during the period 27 August – 13 September 2024. Highlights: September 2024 Commercial-Quality Emerald Auction Total auction revenues of USD 10.8 million 46 lots were offered for sale, of which 28 were sold (61%) Average price of USD 4.47 per carat The 49 auctions of Kagem gemstones held since July 2009 have generated USD 1,052 million in total revenues

Auction Results – MRM Commercial-Quality

Gemfields is pleased to announce the results of an auction of predominantly commercial-quality sapphire, corundum and commercial-quality ruby held from 2 to 4 September 2024. Highlights – MRM Commercial-Quality Auction – September 2024 Auction revenues of USD 2.3 million (2023’s MRM Commercial-Quality Auction: USD 1.5 million) All of the 5.7 million carats (1,130 kilograms) offered in 10 lots were sold (100%) Average sales price of USD 0.41 per carat

Operational Update to 30 June 2024

Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months ended 30 June 2024. These unaudited figures have been produced on a monthly basis for Gemfields’ 75%-owned Kagem emerald mine, its 75%-owned Montepuez ruby mine and Fabergé, the iconic luxury brand. The full operational results and an excel spreadsheet of Gemfields’ historic figures can be found at this link: https://www.gemfieldsgroup.com/operational-update/.

Operational Update up to 31 December 2023

Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months ended 31 December 2023. These unaudited figures have been produced on a monthly basis for Gemfields’ 75%-owned Kagem emerald mine, its 75%-owned Montepuez ruby mine and Fabergé, the iconic luxury brand. The full operational results can be found at this link: https://www.gemfieldsgroup.com/operational-update/.

Notification of major holdings, Director/PDMR shareholdings

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 1 November 2023 from Assore International Holdings Limited (“Assore”) that it acquired 12,219,181 ordinary shares of USD0.00001 each in Gemfields (“Ordinary Shares”) on 18 October 2023.
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