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Market Update: Operating Results to 30 June 2022

Published: 2022-07-27 09:00:39 ET

                       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")




Market Update: Operating Results to 30 June
2022
LONDON, 27 JULY 2022


Gemfields shareholders are advised that the Company has released information about its
operating results and financial position up to and including 30 June 2022. The figures have been
produced on a monthly basis for Gemfields’ 75%-owned Kagem emerald mine, its 75%- owned
Montepuez ruby mine and wholly owned Fabergé, the iconic luxury brand. The operating results
can be found on the Company’s website at www.gemfieldsgroup.com/investor-update-june-
2022/.

Highlights:

     •   Total auction revenues for the six months ending 30 June 2022 of USD 181.2 million,
         with all three auctions held in the period breaking previous records.
     •   Total auction revenues for the 12 months ending 30 June 2022 of USD 330.3 million,
         an all-time high.
     •   Cash balance at 30 June 2022 of USD 111.4 million (excludes auction receivables of a
         further USD 81.1 million). Gross debt balance at 30 June 2022 of USD 29.7 million.
     •   Fabergé: zero cash draw from Gemfields in the six months ending 30 June 2022. In the
         12 months ending 30 June 2022, Fabergé’s cash draw was USD 1.5 million.
     •   Cash capital expenditure in the six months ending 30 June 2022 of USD 14.1 million.

Shareholders are advised that all figures are unaudited for which the directors assume full
responsibility.

Gemfields Interim Results for the six months ending 30 June 2022 are expected to be released on
22 September 2022.
   Gemfields Group Limited, Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HP, Guernsey
                                     T +44 (0)1481 731 554
                                        gemfieldsgroup.com
                                              -ENDS-




              Further information on Gemfields Group Limited can be found at:
                                      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                         Sean Gilbertson / David Lovett
                                   T: +44(0) 20 7518 3400


 SPONSOR (JSE)                     Investec Bank Limited


 SEDIBELO SALE PROCESS             Liberum
                                   Scott Mathieson
                                   T: +44(0) 20 3100 2222

 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 miner of responsible coloured gemstones. Gemfields is the operator
and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single




Gemfields Group Limited                                                                Page 2 of 3
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 3 of 3

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.