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")



Audited Annual Results for the year ended 31
December 2022, Release of Annual Report
LONDON, 31 MARCH 2023


Gemfields Group Limited (“Gemfields”), a world-leading responsible miner and marketer of
coloured gemstones, has released its audited results for the year ended 31 December 2022.


Gemfields’ key financial KPIs are:

            2022                                      USD million                  Change
            Revenue                                             341                 +32%
            EBITDA                                              166                 +25%
            Free cash flow                                       99                     -16%
            Net cash                                            105                 +66%


As announced on 24 March 2023, Gemfields has declared a final gross dividend of USD35
million or USDc 2.886 per share (Dividend announced with 2021 Annual Results: USD20
million). Earnings per share (“EPS”) is USDc 4.8, up 10%. Headline EPS is USDc 4.8, up 2%.
Net asset value is USDc 40.5, up 2%.


Shareholders are informed that Gemfields’ Financial Statements for the year ended 31 December
2022 have now been audited by the Company’s auditors, Ernst & Young LLP (“EY”).


Gemfields’ Condensed Annual Results and 2022 Annual Report, which includes the full audited
financial statements and EY’s auditor’s opinion, are both available at www.gemfieldsgroup.com.


The Condensed Annual Results can also be accessed by following the link below:
https://senspdf.jse.co.za/documents/2023/jse/isse/GMLE/YE22.pdf.

   Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
                                     T +44 (0)1481 731 554
                                        gemfieldsgroup.com
Key audit matters can be found in EY’s auditor’s opinion within the 2022 Annual Report.


The Company’s Condensed Annual Results for the year ended 31 December 2022 is not audited
itself, however, it has been extracted from the audited Annual Financial Statements. The
Financial Statements within the Condensed Annual Results document contains no modifications
to the figures included within Gemfields’ Unaudited Condensed Annual Results, which were
announced through SENS and RNS on 24 March 2023.


This short-form announcement is the responsibility of the Directors and is a summary of the
information in the full documents and does not contain full or complete details. Copies of the
Condensed Annual Results and 2022 Annual Report may also be requested at Gemfields’
registered office at no charge, during office hours. Any investment decision should be based on
Gemfields’ full documents.

                                              -ENDS-




               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").




Gemfields Group Limited                                                                Page 2 of 4
ENQUIRIES



 GEMFIELDS                         Sean Gilbertson / David Lovett / Ian Hughes
                                   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 responsible miner and marketer of 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, advancing the wider group’s “mine and market” vision.


Gemfields Group Limited                                                                  Page 3 of 4
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




Gemfields Group Limited                                                           Page 4 of 4