Operational update to 30 June 2025, Fabergé update

Share code on JSE:GML (General Segment of JSE Main Board) / AIM:GEM

("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.

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.

GEMFIELDS

KAGEM MINING LINKEDIN

MONTEPUEZ RUBY MINING LINKEDIN