GEMFIELDS GROUP LIMITED - Operational Market Update 31 December 2022

Operational Market Update – 31 December 2022

GEMFIELDS GROUP LIMITED
Incorporated in Guernsey. Guernsey registration Number: 47656.
South African external company registration number 2009/012636/10
Share code on JSE:GML / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Company")


Operational Market Update – 31 December 2022
LONDON, 31 JANUARY 2023


Gemfields shareholders are advised that the Company has released information about its
operational results and financial position for the year ended 31 December 2022. 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.


Highlights
    -    Record combined auction and Fabergé annual revenues of USD 333 million in 2022*
    -    Total auction revenues set a new annual record of USD 316 million, up 32% on 2021
    -    Record-high net cash of USD 104 million as at 31 December 2022 (and which excludes
         outstanding auctions receivables at that date of USD 55 million)
    -    Fabergé achieved lowest annual funding required, continuing the drive to profitability


The full operational results can be found on the Company’s website at www.gemfieldsgroup.com.


Shareholders are advised that all figures are unaudited for which the directors assume full
responsibility.


* Excludes Development Assets, Corporate and Other revenues. Fabergé revenue has been reflected on a ‘sales orders
agreed’ basis, meaning that delivery and/or payment may not yet have taken place


               Further information on Gemfields Group Limited can be found at:
                                      GEMFIELDSGROUP.COM

                          To join our investor mailing list, contact us on:
                                        ir@gemfields.com

                           For any press enquiries please contact us on:
                                    gemfields@camarco.co.uk

This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) no. 596/2014 which forms part of domestic UK law pursuant to the European Union
(withdrawal) act 2018 ("MAR").



                                           ENQUIRIES

 GEMFIELDS                         Sean Gilbertson / David Lovett / Ian Hughes
                                   ir@gemfields.com
                                   T: +44(0) 20 7518 3400

 SPONSOR (JSE)                     Investec Bank Limited


 NOMINATED ADVISER                 finnCap
 (AIM) & JOINT BROKER              Christopher Raggett / Tim Redfern / Edward Whiley
                                   T: +44(0) 20 7220 0500


 JOINT BROKER                      Liberum
                                   Scott Mathieson / Kane Collings
                                   T: +44(0) 20 3100 2222


 FINANCIAL PR/ IR                  Camarco
                                   Gordon Poole / Emily Hall
                                   T: +44(0) 20 3757 4980




ADDITIONAL INFORMATION ON GEMFIELDS


Gemfields is a world-leading miner of responsible coloured gemstones. Gemfields is the operator
and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single

largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most
significant recently discovered ruby deposits in the world). In addition, Gemfields also holds
controlling interests in various other gemstone mining and prospecting licences in Zambia,
Mozambique, Ethiopia and Madagascar.

Gemfields’ outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage
- enables Gemfields to optimise positioning, perception and consumer awareness of coloured
gemstones through Fabergé designs, advancing the wider group’s “mine and market” vision.

Gemfields has developed a proprietary grading system and a pioneering auction and trading
platform to provide a consistent supply of coloured gemstones to downstream markets, a key
component of Gemfields’ business model that has played an important role in the growth of the
global coloured gemstone sector.



                                           GEMFIELDS

                          GEMFIELDS.COM | INVESTORS |FOUNDATION

                          INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE

                                            FABERGÉ

               FABERGÉ.COM | INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE


                                   KAGEM MINING LINKEDIN

                              MONTEPUEZ RUBY MINING LINKEDIN




Date: 31-01-2023 09:00:00
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