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") Ruby Auction Results LONDON, 21 JUNE 2023 Gemfields is pleased to announce the results of a ruby auction comprised of mixed-quality rough rubies held during the period 5 - 20 June 2023. Highlights: June 2023 Mixed-Quality Ruby Auction • Total auction revenues of USD 80.4 million • 91 of the 94 lots offered for sale were sold (97%) • Average realised price of USD 265.99 per carat • The 19 auctions of Montepuez Ruby Mining Limitada’s (“MRM”) gemstones held since June 2014 have generated USD 978.5 million in total revenue • One lot of 26.8kg (representing some 30% of the total weight offered) remained unsold. As a result, the average price per carat realised at this auction was considerably higher than it would have been had this lot also been sold. Adrian Banks, Gemfields’ Managing Director of Product & Sales, commented: “With the revenue from this auction up 20% since our last ruby auction in December 2022, today’s results echo the significant rebound in market prices we reported just weeks ago for Zambian emeralds. The ruby market is clearly firing on all twelve cylinders and the step-change in market pricing which we reported in 2022 is notably enhanced. As always, we send our thanks and congratulations to our hard-working teams, our partners, our host governments and of course our clients for their support.” The auction lots were made available in Bangkok for private, in-person viewings by customers. Following the viewings, the auctions took place via an online auction platform specifically adapted for Gemfields and which permitted customers from multiple jurisdictions to participate in a sealed- bid process. The rough rubies were extracted by MRM (which is 75% owned by Gemfields and 25% by Mozambican partner Mwiriti Limitada). The proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the Government of the Republic of Mozambique being paid on the full sales price achieved at the auction. Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey T +44 (0)1481 731 554 gemfieldsgroup.com The results of the five most recent mixed-quality MRM ruby auctions are summarised in the table below (and earlier results are available at www.gemfieldsgroup.com): Apr ’21 Dec ’21 Jun ’22 Dec ’22 Jun ’23 AUCTION AUCTION AUCTION AUCTION AUCTION AUCTION RESULTS (7 sequential (7 sequential (7 sequential (7 sequential (7 sequential (MIXED mini- mini- mini- mini- mini- QUALITY) auctions) auctions) auctions) auctions) auctions) 15 Mar – 8 Nov – 30 May – 21 Nov – 5 – 20 Jun Dates 8 Apr 2021 9 Dec 2021 17 Jun 2022 8 Dec 2022 2023 Various/ Various / Bangkok / Bangkok / Bangkok / Location Online Online Online Online Online Rough Ruby Rough Ruby Rough Ruby Rough Ruby Rough Ruby (Higher, (Higher, (Higher, (Higher, (Higher, Medium and Medium and Medium and Medium and Medium and Type Commercial Commercial Commercial Commercial Commercial Quality), no Quality), no Quality), no Quality), no Quality), no Corundum Corundum Corundum Corundum Corundum Carats 726,610 681,013 610,135 525,246 446,202 offered Carats sold 343,952 667,589 387,681 431,671 302,317 No. of companies 52 49 49 44 51 placing bids No. of lots 94 107 119 104 94 offered No. of lots 89 104 112 98 91 sold Percentage of 95% 97% 94% 94% 97% lots sold Percentage of lots sold by *47% 98% 64% 82% **68% weight Total sales USD 58.9 USD 88.4 USD 95.6 USD 66.8 USD 80.4 realised at million million million million million auction Average per USD USD USD USD USD carat sales 171.33/carat 132.47/carat 246.69/carat 154.84/carat 265.99/carat value * One lot of 76,343 grams (representing some 53% of the total weight offered) remained unsold at the March/April 2021 auction. As a result, the average price per carat realised at this auction was considerably higher than it would have been had this lot also been sold. ** One lot of 26,806 grams (representing some 30% of the total weight offered) remained unsold at the June 2023 auction. As a result, the average price per carat realised at this auction was considerably higher than it would have been had this lot also been sold. Gemfields Group Limited Page 2 of 4 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 always directly comparable. -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"). 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 Gemfields Group Limited Page 3 of 4 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 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 Gemfields Group Limited Page 4 of 4