Record Emerald Auction Results 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") Record Emerald Auction Results L O N D O N, 27 MAY 2022 Gemfields is pleased to announce the results of a record-breaking emerald auction comprising a series of five sequential mini-auctions held during the period 9 – 26 May 2022. The auction contained a selection of grades that are typically offered at Kagem Mining Ltd’s (“Kagem”) auctions of higher quality emeralds as well as one special piece. The auction lots were made available for in-person and private viewings by customers in Bangkok, Thailand. Following the viewings, the bidding took place via an online auction platform specifically adapted for Gemfields which permitted customers from multiple jurisdictions to participate in a sealed-bid process. The rough emeralds sold were extracted by Kagem (which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the Government of the Republic of Zambia being paid on the full sales prices achieved at the auction. Highlights – May 2022 Emerald Auction - Total revenues of USD $43.3 million, an all-time record for Kagem auctions - All 38 lots offered were sold (100%) - Average price of USD 155.90 per carat, an all-time record for Kagem auctions - 100% of the carats offered were sold - The 41 auctions of Kagem gemstones held since July 2009 have generated USD 835.3 million in total revenues Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented: “Kagem’s second auction of 2022 has again been hotly contested, reaffirming the remarkable levels of demand prevailing in the emerald and ruby markets. The auction marked the first time in history that a sizeable emerald auction has been hosted in Bangkok, Thailand, which Gemfields is proud to have been a part of. The auction set new records for both the highest revenue and the highest average price per carat achieved at any of our 41 Kagem auctions since July 2009. Kagem’s first half auction revenues now stand at USD 85.7 million versus full year auction revenues in 2021 of USD 92.3 million, again highlighting the step-change being experienced in the market.” The results of the five most recent higher-quality Kagem auctions are summarised in the table below (and earlier results are available at www.gemfieldsgroup.com): AUCTION Nov ‘19 Nov-Dec ’20 Mar-Apr ‘21 Nov-Dec ’21 May ‘22 RESULTS AUCTION AUCTION AUCTION AUCTION AUCTION (HIGHER (5 sequential (5 sequential (5 sequential (5 sequential QUALITY) mini-auctions) mini-auctions) mini-auctions) mini-auctions) 18-21 Nov 2 Nov – 15 Mar – 1 Nov – 9-26 May Dates 2019 11 Dec 2020 17 Apr 2021 6 Dec 2021 2022 Various/ Various/ Various/ Bangkok/ Location Singapore Online Online Online Online Type Higher Quality Higher Quality Higher Quality Higher Quality Higher Quality Carats 0.36 million 0.23 million 0.273 million 0.251 million 0.278 million offered Carats sold 0.32 million 0.18 million 0.271 million 0.251 million 0.278 million No. of companies 48 47 59 58 62 placing bids Average no. of bids per 9 11 18 20 17 lot No. of lots 38 28 37 32 38 offered No. of lots 33 24 36 32 38 sold Percentage 87% 86% 97% 100% 100% of lots sold Percentage of lots sold 88% 80% 99% 100% 100% by weight Total sales USD 27.2 USD 10.9 USD 31.4 USD 37.8 USD 43.3 realised at million million million million million auction Average per USD USD USD USD USD carat sales 85.26/carat 59.84 /carat 115.5/carat 150.65/carat 155.90/carat value The specific auction mix and the quality of the lots offered at each auction vary in characteristics such as size, colour and clarity on account of variations in mined production and market demand. Therefore, the results of each auction are not directly comparable. 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 Sean Gilbertson / David Lovett 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 Limited (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 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.COM | INVESTORS |FOUNDATION INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE FABERGÉ FABERGÉ.COM | INSTAGRAM | FACEBOOK | TWITTER | YOUTUBE KAGEM MINING LINKEDIN MONTEPUEZ RUBY MINING LINKEDIN Date: 27-05-2022 08:00:00 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.