A leading supplier of responsibly sourced coloured Our business model focuses on creating Revenue Gemfields is a world leading shareholder value by identifying and supplier of responsibly sourced investing in undeveloped or underdeveloped coloured assets. We use our US$ million coloured gemstones. We unrivalled operational expertise in the 193.1 coloured gemstone sector to grow these (2015: US$171.4 million) specialise in high quality assets, typically in partnership with and amethysts from appropriate local partners. We do not pursue EBITDA comprehensive vertical integration. Rather, and from our mine and market strategy means we focus on both ends of the value chain, US$ million . Gemfields has representing what we believe to be the two 69.4 a seven-year track record of most important segments. (2015: US$64.4 million) direction, delivery and success. About us: Profit after tax Our pioneering auction platform has changed the face of the coloured gemstone sector, delivering a key tenet of our business US$ 23.5 million model: bringing a consistent supply of (2015: US$12.3 million) responsibly sourced coloured gemstones, carefully graded according to our proprietary Probable Ore Reserve at Montepuez rough grading systems, to our customers in line with their respective market focus. This distribution platform is complemented by 432 million carats determined marketing and promotional Projected 21-year life of mine campaigns to further increase confidence in, and awareness of, this exciting and Proved and Probable Ore Reserve at Kagem fast-growing sector. 1.1 billion carats Projected 25-year life of mine

Gemfields Locations

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Key 1 75% owned Kagem mine 2 50% owned Kariba amethyst mine 3 75% owned Montepuez mine Prospective licences Gem elds’ and Fabergé global oces Key assets Kagem Mining Limited – emeralds (75% interest) Oriental Mining Société Limitée, Madagascar – rubies, • A partnership with the Government of the Republic of Zambia emeralds and (100% interest) (25% interest). • Nine exploration licences covering emeralds, rubies, sapphires, • Believed to be the world’s largest producer of emeralds, accounting and in the Antananarivo, Fianarantsoa and for approximately 25% of global rough emerald production. Toliara provinces of Madagascar. • Licence covers an area of approximately 41 square kilometres and • 11 additional licences are in the process of being transferred to contains several emerald-bearing belts (one of which is currently Oriental Mining. Initial stages of geological evaluation completed. being mined on a large-scale, two are in a bulk-sampling phase and the others are yet to be fully examined by Gemfields). Ratnapura Lanka Gemstones (Pvt) Limited, Sri Lanka – • JORC code compliant proved and probable Mineral Reserve of sapphires (75% interest) 1.1 billion carats of emerald and at an in situ grade of 291 carats per tonne. • A partnership with East West Gem Investments Limited (25% interest). Montepuez Ruby Mining Limitada – rubies (75% interest) • Trading centres in Colombo and Ratnapura, Sri Lanka. • Geological and geophysical exploration activities have been carried • A partnership with a local Mozambican entity, Mwiriti Limitada out for diverse minerals. (25% interest). • Licence, located in the Montepuez district of the Cabo Delgado Web Gemstone Mining plc, Ethiopia – emeralds (75% interest) province in Mozambique, covers approximately 350 square kilometres with both primary and secondary deposits. • A partnership with an Ethiopian entity representing the local • Generally recognised as one of the world’s largest known ruby and community and individuals in southern Ethiopia (25%). corundum deposits and the single largest producing ruby mine. • An emerald exploration licence covering an area of approximately • JORC code compliant probable Mineral Reserve of 432 million 200 square kilometres. carats of ruby and corundum at an in situ grade of 16 carats • Exploration activity began in July 2015 and diamond drilling per tonne. commenced in early July 2016.

Fabergé Limited (100% interest) Coscuez Emerald Mine, Boyacá Department, Colombia – • Fabergé enables Gemfields to take its vision for coloured emeralds (projected 70% interest) gemstones to the next level, harnessing the Fabergé name to boost • In September 2015, Gemfields entered into a binding but the international presence and perception of coloured gemstones conditional agreement to acquire a projected 70% interest in a and advance the Company’s ‘mine and market’ vision. Colombian Company which will, on completion, hold mining • New products launched to promote the use of emeralds, rubies contract no. 122-95M (the “Coscuez Licence”, which is presently and sapphires in support of Gemfields’ coloured gemstone strategy. held by Esmeracol S.A.). • Located on the ‘Muzo formation’, the Coscuez Licence covers an Kariba Minerals Limited – amethyst (50% interest) area of 47 hectares, with the Coscuez mine being historically one of the largest emerald mines in the world. • One of the world’s largest producing amethyst mines. • Pre-completion geological studies have been carried out by • Partnership with ZCCM Investments Holdings plc (“ZCCM- Gemfields by a small team onsite in 2015 and 2016. IH”), which owns a 50% interest. • Completion is expected to occur before the end of the second quarter of financial year 2016–17.

New projects and other assets Selected Exploration Prospects, Colombia – emeralds Eastern Ruby Mining Limitada, Mozambique – (70% to 75% interests). rubies (75% interest) • In September 2015, Gemfields announced the signing of a binding • A partnership with a local Mozambican individual (25% interest). agreement which would afford it the opportunity to potentially • Holds Mozambique exploration licence number 5061L which is acquire effective 70% – 75% interests in a number of exploration under conversion to a mining concession. licences. • These projects would provide Gemfields with access to various Megaruma Mining Limitada, Mozambique – prospective emerald bearing areas, thereby further enhancing the Company’s local geological understanding subject to the rubies (75% interest) Company progressing these transactions. • A partnership with EME Investments, a local Mozambican entity (25% interest). • Two licences, located in Montepuez district in Mozambique which each share a boundary with the existing Montepuez ruby deposit and cover approximately 19,000 hectares and 15,000 hectares respectively. • Initial stages of geological evaluation completed and further studies proposed. Total Others BlackRock IncBlackRock L.P.NGPMR (Cayman) Investec Pallinghurst (Cayman) L.P. (Cayman) Pallinghurst Investec Fabergé Conduit Ltd Peel Hunt –13 2016 July 2016 Gordon –9August Panmure 2016 –1August Macquarie –15 2016 Cazenove September Morgan JP 2016 –31 August Securities Investec June 2016 –20 FinnCap June 2016 –20 Markets BMO Capital Forecasts Analyst L.P. Fund Resources The Pallinghurst Shareholder Company: of the capital share ordinary issued of 3% the or more in interests following of the aware June 2016, is 30 at Company As the shareholdingsSignificant Strong revenue generation revenue Strong emerald auctionemerald in Zambia quality 2016 higher April in the at achieved carat per price average Highest US$ prices Higher (US$ million) 2008–09 in auction first since generated US$ 09 0.8 10

19.9 70.68

717.6 11 40.2 12 83.7 13 48.4 14 160.1 per carat million 15 171.4 16 193.1 (US$ million) 2015–16 to 2008–09 since US$ EBITDA Total Jun 09 09 4.40 -13.5 Nov 09 10 5.10 6.6

264.1 Jul 10 11 9.35 22.3 Dec 10 12 26.20 54.4 544,237,288 208,502,556 122,155,846 Jul 44,428,505 11 13 98,647,407 53,491,818 17,011,156 42.71 1.2 Mar 12 14 Number of of Number 38.25 59.3 Nov 12 15 shares

29.71 64.4 million Jul 13 16 54.00 69.4 Feb 14 59.31 Nov 14 22.45% 38.31% 18.13%

Percentage 65.89 9.83% 3.12% 8.16% 100% Sep 15 holding 100p Target 80p 80p 43p 78p 85p

61p 58.42 Price Apr 16 70.68

Grant Thornton UK LLP UK Thornton Grant Adviser Nominated Ltd (Europe) Capital Macquarie Broker Joint J.P. Morgan Cazenove Broker Joint Ltd Markets Capital BMO Broker Joint Tavistock Communications Financial PR LLP BDO Auditors External Advisers £244m Market Capitalisation (21/9/2016) 544,337,288 21 at 2016 as September Shares Issued 44.75p (21/9/2016) Price Share Current AIM: GEM Listed London t: +44 (0) 3150 7920 +44 20 t: e: [email protected] Tavistock Communications Relations Public Financial (0) 7518+44 20 3400 Kingdom United 6QY SW1Y London Street King 23 plc Gemfields Contacts Chief Financial Officer Boyce Janet Non-Executive Director Finn Behnken Non-Executive Director Newall Clive Director Executive Gilbertson Sean Officer Operating Chief Shetty Dev Officer Chief Executive Harebottle Ian Non-Executive Chairman Mascall Graham Management