Disclosure of beneficial interests in securities 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") Disclosure of beneficial interests in securities LONDON, 23 SEPTEMBER 2021 In compliance with paragraph 3.83(b) of the JSE Listings Requirements, shareholders are advised that Gemfields received formal notification on 22 September 2021 from Old Mutual Life Assurance Company (South Africa) Limited (“Old Mutual”) that Old Mutual disposed, on 17 September 2021, of a beneficial interest in 67,195,197 ordinary shares of the Company. Following the disposal, Old Mutual held a total of nil ordinary shares in the Company. Online share price services including Sharenet reported two off-market block trades totalling 90,113,595 shares at a price of ZAR 3.20 per share on 17 September 2021. Old Mutual’s completed form TR-1 has been released separately. -ENDS- Further information on Gemfields Group Limited can be found at: GEMFIELDSGROUP.COM To join our investor mailing list, contact us on: companysecretary@gemfields.com For any press enquiries please contact us on: gemfields@camarco.co.uk ENQUIRIES Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey T +44 (0)1481 731 554 gemfieldsgroup.com GEMFIELDS Sean Gilbertson / David Lovett / Mark Lawrie T: +44(0) 20 7518 3400 SPONSOR (JSE) Investec Bank Limited SEDIBELO SALE PROCESS Liberum Nehal Patel T: +44(0) 20 3100 2222 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 / Nick Hennis T: +44(0) 20 3757 4980 ADDITIONAL INFORMATION ON GEMFIELDS Gemfields is a world-leading supplier of responsibly sourced 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 licenses 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, 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 and 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 TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are GEMFIELDS GROUP LIMITED attached ii: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer X 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights X An acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify) iii: 3. Details of person subject to the notification obligation iv Old Mutual Life Assurance Company (South Africa) Name Limited City and country of registered office (if applicable) Cape Town, South Africa 4. Full name of shareholder(s) (if different from 3.) v Name N/A City and country of registered office (if applicable) N/A 5. Date on which the threshold was crossed or 17/09/2021 reached vi: 6. Date on which issuer notified (DD/MM/YYYY): 22/09/2021 7. Total positions of person(s) subject to the notification obligation Gemfields Group Limited Page 4 of 7 % of voting rights Total number of % of voting rights through financial Total of both in % voting rights held attached to shares instruments (8.A + 8.B) in issuer (8.A + (total of 8. A) (total of 8.B 1 + 8.B 2) 8.B) vii Resulting situation on the date on which 0% N/A 0% Nil threshold was crossed or reached Position of previous notification (if 5.75% N/A 5.75% applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii A: Voting rights attached to shares Class/type of Number of voting rights ix % of voting rights shares Direct Indirect Direct Indirect ISIN code (if possible) (DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1) GG00BG0KTL52 Nil N/A 0% N/A SUBTOTAL 8. A Nil 0% B 1: Financial Instruments according to DTR5.3.1R (1) (a) Number of voting rights Type of financial Expiration Exercise/ that may be acquired if the instrument is % of voting rights instrument date x Conversion Period xi exercised/converted. Gemfields Group Limited Page 5 of 7 SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) Physical or Exercise/ Type of financial Expiration cash Number of Conversion % of voting rights instrument date x voting rights Period xi Settlement xii SUBTOTAL 8.B.2 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity X (please add additional rows as necessary) xiv % of voting rights % of voting rights if it Total of both if it through financial equals or is higher equals or is higher Name xv instruments if it equals than the notifiable than the notifiable or is higher than the threshold threshold notifiable threshold Old Mutual Limited 0% N/A 0% Old Mutual Life Assurance Company 0% N/A 0% (South Africa) Limited 10. In case of proxy voting, please identify: Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 11. Additional information xvi Place of completion Johannesburg, South Africa Date of completion 22/09/2021 Date: 23-09-2021 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.