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")

Invitation to Shareholders: Update on the Company's Long Term Incentive Plan

LONDON, 14 FEBRUARY 2023

The Company's Remuneration Committee engaged with shareholders in September 2022 to discuss the Company's Remuneration Policy (as set out within the Remuneration Committee Report in the Company's Annual Report for the year ending 31 December 2021) and allow for views to be expressed on the Company's proposed new Long Term Incentive Plan ("LTIP").

To provide an update on the proposed new LTIP, shareholders are hereby invited to attend a virtual call with the Company's Remuneration Committee, by means of a Microsoft Teams conference call, to be held at 10am UK time on Monday, 20 February 2023.

A document with an update in respect to the LTIP will be posted on the Company's website at https://www.gemfieldsgroup.com/changes-to-the-companys-remuneration-policy/ shortly.

Shareholders who wish to participate in the conference are requested to contact Investor Relations, confirming the relevant shareholder's name, address and Shareholder Reference Number, at the email address below by 5pm UK time, Thursday, 16 February 2023, in order to obtain joining instructions for the conference. [email protected]

-ENDS-

Further information on Gemfields Group Limited can be found at:

 GEMFIELDSGROUP.COM

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[email protected]

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ENQUIRIES

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