Company Announcements

B"H

23 August 2021

Shefa Gems Ltd.

("Shefa Gems" or the "Company")

Board Changes

Shefa Gems (LSE: SEFA), is pleased to announce the appointment of Ms. Irit Ben Ami and Mr. Avi Levin as external directors of the Company as of 23 August 2021. In accordance with the provisions of section 57(4) to the Israeli Companies Law, 5759-1999, the appointment of the new external directors is subject to the approval of the general meeting of the Company's shareholders.

A General Meeting of Shareholders for the approval of the appointment will be scheduled to convene in October 2021. Details regarding the General Meeting will be published in the next few days.

Ms. Irit Ben Ami

Ms. Irit Ben Ami has a BA in Economy and Accounting from the Haifa University in Israeli and an LLM in Law from the IDC Herzliya in Israel.  She is qualified under the Israeli Companies Law as an expert director and possesses financial and accounting expertise.  She serves as an external director in two Israeli publicly traded companies in the fields of clean energy and medical cannabis, Medivie Therapeutic Ltd. and Together Pharma Ltd.  Until 2019, she also served as a director in Nano Dimension, a public company in the field of 3D printing.

Save as disclosed above, there are no further disclosures to be made in relation to Ms Ami.

Mr Avi Levin

Mr. Avi Levin has a BA in Economy and Accounting from the Ben Gurion University in Israeli and an MBA in Finance and Global Business from the New York University. He holds a chartered accountant license in Israel and a CPA in the U.S.  In addition to his appointment in the Company, he also serves as a CFO in Blackswan Technologies, a company in the field of cloud computing and artificial intelligence.  He is qualified under the Israeli Companies Law as an expert director and possesses financial and accounting expertise.

Save as disclosed above, there are no further disclosures to be made in relation to Mr Levin.

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