Cancellation & De-listing of Treasury Shares & TVR

Incorporated in Guernsey. Guernsey registration Number: 47656.

South African external company registration number 2009/012636/10

Share code on JSE:GML / AIM:GEM

("Gemfields" or the "Company")

Cancellation and De-listing of Treasury Shares and Total Voting Rights

LONDON, 20 DECEMBER 2023

In accordance with AIM Rule 17, shareholders are advised that Gemfields has cancelled and de-listed 55,694,351 ordinary shares of USD0.00001 each in the Company ("Ordinary Shares"), such shares which were previously held in treasury having been repurchased by the Company pursuant to the share buy-back programme which completed on 20 October 2023 (the "Cancellation"). The Cancellation and de-listing will be complete on 21 December 2023, following completion of requisite approvals and filings.

Following Cancellation there will be 1,166,695,130 Ordinary Shares in issue, each share carrying the right to one vote. No Ordinary Shares remain in treasury. This is also the total voting rights figure which may be used by shareholders as the denominator for the calculations by which they can determine whether they are required to notify their interests in, or a change to their interest in the Company.

GEMFIELDS

KAGEM MINING LINKEDIN

MONTEPUEZ RUBY MINING LINKEDIN