Notification of Q3 2023 Trading Update

26 October 2023

GEM DIAMONDS LIMITED

("Gem Diamonds" or "the Company")

Notification of Q3 2023 Trading Update

Gem Diamonds Limited (LSE: GEMD) will be releasing a Trading Update for the period 1 July 2023 to 30 September 2023 on 1 November 2023.

The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67.

For further information:

Gem Diamonds

Kiki Constantopoulos, Company Secretary

ir@gemdiamonds.com

Celicourt Communications

Mark Antelme/Felicity Winkles

Tel: +44 (0) 207 777 6424

About Gem Diamonds:

Gem Diamonds is a leading global diamond producer of large high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho and is currently in the process of selling its 100% share of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.  www.gemdiamonds.com