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Audited 2023 Annual Report Released, Dividend Announced and Board Role Changes

Gemfields is pleased to announce publication of the Company’s audited Annual Report and Accounts for the year ending 31 December 2023 (“2023 Annual Report”). The content of this short form announcement is the responsibility of the board of directors of the Company. Shareholders are advised that this short form announcement represents a summary of the information contained in the Annual Report and does not contain full or complete details of the financial results.

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/.

PDMR Shareholdings

On 14 December 2023, the Company announced that Kartikeya Parikshya, a PDMR of the Company, had exercised 471,377 share options at an exercise price of ZAR2.97 per ordinary share of USD0.00001 each in the company (“Ordinary Shares”).

Cancellation and De-listing of Treasury Shares and Total Voting Rights

In accordance with AIM Rule 17, shareholders are advised that Gemfields has cancelled and de-listed 55,694,351 ordinary shares of USD0.00001 each in the Company (“Ordinary Shares”), such shares which were previously held in treasury having been repurchased by the Company pursuant to the share buy-back programme which completed on 20 October 2023 (the “Cancellation”). The Cancellation and de-listing will be complete on 21 December 2023, following completion of requisite approvals and filings.

PDMR Dealing, Issue of Equity and Total Voting Rights

In accordance with AIM Rule 17, shareholders are advised that Gemfields has issued and allotted 471,377 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”).

Final 2023 auction results underscore the ongoing vitality of the ruby market

Gemfields is pleased to announce the results of a ruby auction comprised of mixed-quality rough rubies held during the period 20 November to 5 December 2023. The rough rubies were extracted by Montepuez Ruby Mining Limitada (“MRM”, which is 75% owned by Gemfields and 25% by its Mozambican partner Mwiriti Limitada). The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales price achieved at the auction.

Appointment of Nomad and Broker

The Company announces that it has appointed Liberum Capital Limited (“Liberum”) as Nominated Adviser and Sole Broker with immediate effect. Liberum were previously engaged as the Company’s Joint Broker.

AIM Rule 17 Schedule 2(g) Update

Gemfields announces that the following information is being disclosed pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies. Previous and current directorships and partnerships (held in the past five years and as at the date of the original announcements containing Schedule 2(g) information). The original announcements relate to either the Schedule One Pre-Admission Appendix published on 17 January 2020 (“Schedule One”) or the specific appointment announcement for that director:

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.