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 2026

LONDON, 30 JULY 2026

Gemfields shareholders are advised that the Company has released information about its operational results and financial position for the six months to 30 June 2026.

These unaudited figures have been produced on a monthly basis for Gemfields' 75%-owned emerald mine, Kagem Mining ("Kagem") and 75%-owned ruby mine, Montepuez Ruby Mining ("MRM").

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 102.9 million for the first half of the year (2025 H1: USD 60 million)

·    Net debt position of USD 44.2 million (before auction receivables of USD 33.3 million) at 30 June 2026.

·    MRM continued to experience weak premium grade ruby recovery, at 0.025 carats per tonne in the six-months to 30 June 2026. The Company continues to focus mining activities on areas believed to contain higher-grade material, with the aim of improving grade outcomes. MRM's second processing plant made a meaningful contribution to production volumes in H1 and is expected to be signed off as fully commissioned later this year.

·    Kagem maintained healthy premium emerald production during the first half, while higher fuel prices, exchange rate pressures and increased mining activity impacted operating costs.

Full commentary on the operational performance and financial results will be available in Gemfields' interim results due to be published on Friday 25 September 2026.

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

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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

NOTES TO EDITORS

About Gemfields Group Limited

Gemfields is a world-leading miner of coloured gemstones, dual-listed on the Johannesburg and London AIM stock exchanges.

Gemfields is the operator and 75% owner of both Kagem Mining in Zambia (a world-leading emerald mine) and Montepuez Ruby Mining in Mozambique (situated on one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields holds controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique and Madagascar.

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.

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