Gemfields Group Limited (JSE:GML) News - Record Ruby Auction Results 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") Record Ruby Auction Results LONDON, 20 JUNE 2022 Gemfields is delighted to announce the results of a ruby auction comprised of seven sequential mini-auctions held in Bangkok during the period 30 May – 17 June 2022. The auction delivered all-time high auction revenues for any Gemfields auction and contained a selection of grades that are typically offered at Montepuez Ruby Mining Limitada’s (“MRM”) auctions of mixed quality rubies. 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 all extracted from the mining licence held and operated 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 prices achieved at the auction. Highlights: June 2022 Ruby Auction - Total auction revenues of USD 95.6 million, an all-time high for any Gemfields auction - Average price of USD 246.69 per carat, a new record for any mixed quality ruby auction - Of the 119 lots offered, 112 were sold (94.1%) - 63.5% of the carats offered at the auction were sold - The 16 auctions of MRM rubies held since June 2014 have generated USD 827.1 million in total revenues The auction saw 49 companies placing bids and generating record revenues of USD 95.6 million with an overall average value of USD 246.69 per carat. The auction saw 94.1% of the number of lots, and 63.5% of the offered carats, being sold. The results of the five most recent mixed quality ruby auctions are summarised in the table below (and earlier results are available at www.gemfieldsgroup.com): AUCTION Jun ’19 Dec ’19 Apr ’21 Dec ’21 Jun ’22 RESULTS AUCTION AUCTION AUCTION AUCTION AUCTION (7 sequential (7 sequential (7 sequential mini-auctions) mini-auctions) mini-auctions) Dates 11-15 Jun 10-14 Dec 15 Mar – 8 8 Nov – 9 Dec 30 May – 17 2019 2019 Apr 2021 2021 Jun 2022 Location Singapore Singapore Various/ Various/ Various/ Online Online Online Type 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 Commercial Commercial Commercial Commercial Commercial Quality), no Quality), no Quality), no Quality), no Quality), no Corundum Corundum Corundum Corundum Corundum Carats offered 978,197 1,158,114 726,610 681,013 610,135 Carats sold 962,211 927,130 343,952 667,589 387,681 No. of lots 90 104 94 107 119 offered No. of lots 84 91 89 104 112 sold Percentage of 93% 88% 95% 97% 94% lots sold Percentage of 98% 80% *47% 98% 64% lots sold by weight Total sales USD 50.0 USD 71.5 USD 58.9 USD 88.4 USD 95.6 realised at million million million million million auction Average per USD USD USD USD USD carat sales 51.99/carat 77.12/carat 171.33/carat 132.47/carat 246.69/carat value 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 directly comparable. Specific attention is drawn to the fact that one lot of 29,523.82 grams (representing some 24% of the total weight offered) remained unsold and, as a result, the average price per carat realised at the most recent auction is considerably higher than it would have been had this lot also been sold. Adrian Banks, Gemfields’ Managing Director of Product & sales, commented: “Our first auction of rubies in 2022 has delivered truly glittering results, setting a new revenue record for any Gemfields auction at USD 95.6 million. When combined with Kagem’s two emerald auctions so far this year, Gemfields auction revenue in the first half of 2022 stands at USD 181 million versus our prior first half record of USD 93 million, set in 2018. While we would caution that second-half revenues are unlikely to match the remarkable first half, today’s auction results again underscore the extent of the step-change being experienced in the market. We thank and congratulate our hard-working teams, our partners, our host governments and of course our clients”. 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 Limited (AIM) & JOINT BROKER Christopher Raggett / Tim Redfern / Edward Whiley T: +44(0) 20 7220 0500 Gemfields Group Limited Page 3 of 4 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 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 Date: 20-06-2022 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. 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