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") 6 August 2020 Disclosure of beneficial interests in securities In compliance with paragraph 3.83(b) of the JSE Listings Requirements, shareholders are advised that Gemfields has received formal notification from Rational Expectations (Pty) Ltd (“Rational”) on 5 August 2020, that Rational and related parties acquired a beneficial interest in the ordinary shares of the Company, such that the total beneficial interest in ordinary shares of the Company held by Rational is now 7.05% of the total issued shares of the Company. Following the acquisition, Rational held a total of 82,371,221 ordinary shares in the Company. Further information on Gemfields Group Limited can be found at www.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 Nominated Adviser (AIM) and Joint Broker Sean Gilbertson / David Lovett / Mark Lawrie finnCap Tel: +44(0) 20 7518 3400 Christopher Raggett / Tim Redfern / Edward Whiley Tel: +44(0) 20 7220 0500 Sponsor (JSE) Joint Broker Investec Bank Limited Liberum Clayton Bush / Scott Mathieson / Kane Collings Tel: +44(0) 20 3100 2222 IR / Financial PR Camarco Gordon Poole / Jennifer Renwick / Nick Hennis Tel: +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. Date: 06-08-2020 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.