Operational update to 30 June 2025 and update on strategic review of Fabergé

Gemfields Group Limited
Incorporated in Guernsey. Guernsey registration number: 47656
South African external company registration number: 2009/012636/10
Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM
ISIN: GG00BG0KTL52 | LEI: 21380017GAVXTCYS5R31
("Gemfields" or the "Group" or the "Company")


Operational update to 30 June 2025 and update
on strategic review of Fabergé

LONDON, 31 JULY 2025


Gemfields shareholders are advised that the Company has released information about its
operational results and financial position for the six months to 30 June 2025.

These unaudited figures have been produced on a monthly basis for Gemfields' 75%-owned
Kagem emerald mine, its 75%-owned Montepuez ruby mine and Fabergé, the iconic luxury brand.

The full operational results and an excel spreadsheet of Gemfields' historic figures can be found
on the Company's website at www.gemfieldsgroup.com/operational-update/.

Highlights

    •   Total auction revenues of USD 60 million for the first half of year.
    •   Net debt position of USD 59.6 million (before auction receivables of USD 16.1 million)
        at 30 June 2025, which includes proceeds from the fully underwritten USD 30 million
        Rights Issue completed on 13 June 2025 through the issuance of 556,203,396 new
        shares.
    •   Construction of MRM's second processing plant is nearing completion and remains
        materially on budget with first ruby production expected in August 2025 and full
        completion anticipated during September 2025.
    •   Kagem recommenced focused mining in May 2025 by reopening two production points
        in the Chama pit, with a further moderated expansion from July 2025 while continuing
        to process stockpiles through its upgraded wash plant.

Full commentary on the operational performance and financial results will be available in
Gemfields' interim results due to be published on Friday 26 September 2025.

Update on strategic review of Fabergé

Gemfields is also pleased to advise that material progress has been made in respect of the strategic
review of Fabergé and will update the market as appropriate.

Shareholders are advised that all figures in this operational update are unaudited, in respect of
which the directors assume full responsibility.



                                              -ENDS-




               Further information on Gemfields Group Limited can be found at:
                                      GEMFIELDSGROUP.COM




                      To join our investor mailing list, please contact us on:
                                        ir@gemfields.com




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 / Emily Dungey
                                   ir@gemfields.com
                                   T: +44(0) 20 7518 3400

 SPONSOR (JSE)                     Investec Bank Limited


 NOMINATED ADVISER                 Panmure Liberum
 (AIM) & BROKER                    Scott Mathieson / Amrit Mahbubani / John More
                                   T: +44(0) 20 3100 2222


 PRESS ENQUIRES, GEMFIELDS         Helena Choudhury / Albertina Namburete
 HEAD OFFICE, LONDON               helena.choudhury@gemfields.com / albertina.namburete@gemfields.com



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 | X | YOUTUBE




                                             FABERGÉ

                   FABERGÉ.COM | INSTAGRAM | FACEBOOK | X | YOUTUBE




                                    KAGEM MINING LINKEDIN

                              MONTEPUEZ RUBY MINING LINKEDIN


Date: 31-07-2025 08:00:00
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