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")




Completion of Share Buyback Programme,
Transaction in Own Shares and Total Voting
Rights
LONDON, 23 OCTOBER 2023


Gemfields announces that on Friday 20 October 2023, the Company purchased 2,853,200 of its
own ordinary shares of USD0.00001 each in the Company ("Ordinary Shares") at a price of
ZAR3.15. This completes a USD 10 million share buyback programme approved by
shareholders.


In total, 58,423,901 Ordinary Shares have been purchased. This represents 4.83% of the issued
Ordinary Shares on the date of the original general authority granted by the Company’s
shareholders to purchase the Ordinary Shares, which was 1,210,087,232 as at 30 November 2022.


At completion of share buyback programme                   To 20 October 2023
Total number of ordinary shares purchased:                 58,423,901
Highest price paid per share:                              ZAR3.45
Lowest price paid per share:                               ZAR3.00
Volume weighted average price paid per share:              ZAR3.1739
Aggregate price paid excluding the cost of dealing:        ZAR185,429,015.02


Following this final purchase, the total number of Ordinary Shares held in treasury by the
Company is 55,694,351, which will all be cancelled. This cancellation will be announced
separately. The total number of Ordinary Shares in issue is 1,221,918,104, including treasury
shares.


Therefore, the number of Ordinary Shares that each carry the right to one vote is 1,166,223,753.

   Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
                                     T +44 (0)1481 731 554
                                        gemfieldsgroup.com
This is the total voting rights figure which may be used by shareholders as the denominator in
determining whether they are required to notify their interests in, or a change to their interest in,
the Company under the FCA’s Disclosure Guidance and Transparency Rules.




                                              -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



                                            ENQUIRIES




 GEMFIELDS                          Sean Gilbertson / David Lovett / Ian Hughes
                                    ir@gemfields.com
                                    T: +44(0) 20 7518 3400

 SPONSOR (JSE)                      Investec Bank Limited


 NOMINATED ADVISER                  Cavendish Capital Markets Limited
 (AIM) & JOINT BROKER               Neil McDonald / Edward Whiley / Tim Redfern
                                    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




Gemfields Group Limited                                                                    Page 2 of 3
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 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 3 of 3