Sarine Technologies : Immediate Report

Sarine Technologies, through its application of patented solutions (proprietary mechanics, electronics, optics and lasers) and sophisticated software utilising artificial intelligence (AI), big data, cloud computing and GPU (aka "Nvidia") methodologies, is a global leader in the development of technologies used throughout the entire diamond value chain, from mine to retail, from rough diamonds evaluation, planning and polishing to polished diamonds grading, certification and trade.

The diamond industry today comprises two distinct categories of stones - natural mined diamonds and man-made manufactured stones, often referred to as Lab Grown Diamonds (LGD). Data show that some 120 million carats of natural diamonds are mined annually, of which roughly half are gem quality, with widely varying sizes and qualities. Over 950 million stones are polished annually from these mined rough diamonds, of which less than 2 million are a carat or larger. The price of a natural diamond is highly dependent on its rarity and quality, as defined by its Carat weight, Clarity, Color and Cut. The wholesale price of a one carat polished natural diamond ranges from US$ 1,000 to 10,000. Accurate data for LGD production are less readily available. We estimate that the annual production of rough LGD, which is experiencing rapid growth, is nearing 20 million carats. Constantly evolving and tightly controlled production processes at continuously decreasing costs result in larger, higher quality LGDs, with less variance in their qualities. Manufacturers mostly aim for stones a carat and above. The wholesale price range of a one carat LGD is US$ 300-400.

Sarine develops, manufactures, markets and sells precision technology products for the assessing, polishing, grading and the wholesale and retail trade of diamonds, utilised throughout the diamond industry. Our technologies and services are mostly applicable to natural diamonds and LGD alike, with the appropriate adaptations. Prior to 2023 our revenues from the LGD segment of the industry were negligible. In 2023 we designated the LGD segment as a strategic market for expansion and growth, and some 8% of our revenues for the year were derived from it. We expect further expansion into this rapidly expanding industry segment in 2024 and beyond.

Following is a brief profile of our offerings. For a comprehensive description of our products and services, please refer to the Business Review section of this Annual Report.

Rough Stone Evaluation and Source Registration (the "Upstream")

We assist rough diamond mining and trading companies, typically referred to as the "upstream", to document, evaluate and market their inventory of rough stones. Our DiaExpert® accurately models the external surface and 3D geometry of a rough diamond. The Galaxy® provides comprehensive mapping of a rough stone's internal imperfections. Together these two systems and the Advisor® software discern the optimal polished diamonds derivable from the rough stone, and, in accordance with current price lists, generate the rough stone's intrinsic value in actual dollar terms. This information enables the implementation of digital tenders, allowing prospective buyers to bid on the rough stones with comprehensive understanding of their characteristics. This enables bidders to more correctly select the goods on which they wish to bid and directly increases the profitability of both the sellers and the buyers. The provision of such data in a digital format expands the tender's reach to a broader scope of potential buyers. In addition, financial entities can utilise this information to more accurately provide collateral-backed financing to the buyers.

In 2023 we introduced the Sarine AutoScan™ Plus, a cutting-edge system that revolutionises the rough diamond source registration process, scanning rough diamonds at exceptional speeds up

to 1000 stones an hour. The rough stone's source registration, coupled with subsequent scans and documentation throughout the diamond's polishing process, establishes a robust, data-driven and scalable solution for diamond traceability. The demand for diamond traceability is growing, driven by both retail brands aiming to ensure and demonstrate the sustainability of their processes and the G7 group of nations (the U.S., Canada, the E. U. and Japan), which recently announced broader sanctions on Russian diamonds. Miners, tender houses, wholesale sorters and manufacturers may also implement the AutoScan™ Plus for internal inventory control purposes. Registering the rough diamonds at source, rather than at the producer's central sorting facility days later, following multiple handling and shipping stations, may significantly reduce inventory loss. The system's low cost, minimal footprint and high speed, enable its utilisation virtually anywhere, including customs gateways and government offices.

Rough Diamond Polishing (the "Midstream")

Our products and services provide industry-leading automated solutions for every stage of the rough diamond polishing process, applicable to natural stones as well as LGD.

• Optimal planning for realising the best possible polished gems from each rough diamond, based on their true dollar value, market trends and any other criteria specified by the polisher, enabled by our high-precision modelling of the external surface features and geometry of the rough stone along with its internal inclusions;
• Efficient laser cutting and shaping with minimal risk and loss of material; and
• Real-timequality control of the actual making and faceting of the polished jewel, so as to minimise and timely correct human errors.

Our DiaExpert® and Galaxy® families of platforms and the Advisor® software are the de-facto worldwide standard for planning the optimal utilisation of rough diamonds, so as to realise the highest possible valued polished gems based on optimisation of the four Cs (Carat, Clarity, Color and Cut) and light performance parameters. Our just- released (January 2024) Most Valuable Plan (MVP™) software takes the optimisation of small rough diamonds (currently under 40 points to be expanded later in 2024 to larger sizes) to a whole new level of sophistication and automation.

Our third-generation Quazer® 3 green-laser system, integrated with our planning systems by way of the Strategist® setup station, is a high- end solution for the laser cutting and shaping of rough stones, as well as for the dicing of CVD-type LGD. The Quazer® 3's main advantage is its ability to execute multi-staged processing, like pie-cut sawing, with one setup, saving significant time.

The Instructor® software supports the inline quality control of the actual diamond faceting process. It can also provide remedial polishing steps, when deviations from the optimal polishing are discerned, including application of unique asymmetrical solutions.

The combination of these technologies has transformed the art of diamond polishing into a science. It has raised the optimally achievable yield of the polished stones' combined weights from historically around 37.5% of the rough stone's weight to over 50%, a benefit nearing 33%. It also allows the manufacturer the flexibility of planning options which best suit actual demand in specific markets, e.g., trading off between Carat weight, key in US markets, and Clarity, more important in Asia Pacific (APAC) markets. It also facilitates prioritising orders for diamonds for specific lines of jewellery, so called "programmes".

Polished Diamond Grading and Trade (the "Downstream")

Grading

Sarine pioneered technology-derived automated grading of a polished diamond in 1992 with the introduction of the DiaMension® system for the grading of its Cut grade. The current generation DiaMension® HD (High Definition) and the DiaMension® Axiom 3, based on micron level accuracy (which actually exceeds Tiffany & Company's ["Tiffany"] specifications for extra-fine diamond quality assessment including Symmetry grading) are today's state-of-the-art Cut grading standards.

We introduced the most accurate system for scientifically measuring a polished diamond's actual light dispersion ("light performance") in 2013 - the Sarine Light™. It has today become the most widely used system for light performance analysis and grading in the Asia Pacific (APAC) market - in Japan it has all but become the fifth "C".

In 2017 we announced the world's yet-unmatched first automated method to derive a polished diamond's Clarity grade, as well as a system for automatically discerning its Color grade, based on two additional cutting-edge systems, the Sarine Clarity™ and the Sarine Color™, powered by artificial intelligence ("AI") based algorithms. Clarity grading is a very complex multi-dimensional classification, dictated by the number of inclusions in the stone, their sizes, types and locations, along with other parameters. Color grading is also challenging to perform consistently, due to the subtle hue differences between the various grades. Both manual Clarity and Color grading entail subjective labour-intensive processes, with two, sometimes three, graders involved for each process. The utilisation of technology enables more objective and consistent grading, which, as the AI- based algorithms are self-learning, continuously improves over time.

In 2020 we announced the next revolution of polished diamond grading - e-Grading™.e-Grading™ allows for on-site grading, negating the need to send stones offsite to gemmological laboratories. This provides a midstream polisher a number of key benefits:

• Significantly less direct costs, as the grading is executed by less-skilled personnel operating equipment, rather than by highly-skilled gemmologists;
• Virtually no indirect costs - no shipping, insurance, etc.;
• A substantially shorter process - minutes to hours vs. days to weeks; and
• Operational flexibility - a manufacturer can independently prioritise his stones' grading sequence and schedule, as necessary to meet delivery deadlines, etc.

e-Grading™ will also facilitate in 2024 the significant expansion of GCAL, our New York based gemmological laboratory. By integrating Sarine's AI-basede-Grading™ with GCAL's standards we have already expanded into India and intend to further expand to manufacturers' sites later in the year. In the future, expansion to Botswana, Dubai and other key geographies is planned. e-Grading™ is especially suitable to LGD grading, as its lower cost structure allows the commercially viable grading of lower-valued LGD.

Beyond the 4Cs grading, we are also working to implement the automated on-site sorting of polished diamonds in accordance with industry-accepted commercial criteria e.g., "eye-clean", "no black inclusions", "no inclusions under the table", "no milkiness", issues of tinge, etc. This will facilitate more accurate matching of the goods offered to the retail customer to their nuanced needs, reducing rejects and bolstering profitability.

Retail Trade

We provide technologically advanced solutions for key aspects of the polished diamond retail trade, whether natural stones or LGD. In today's evolving retail environment, channel and product branding and differentiation, as well as creating a captivating online digital experience, are key to a retailer's success.

CORPORATE PROFILE

Our pioneering Sarine Profile™ addresses the retailers' needs for a compelling digital presence, by providing a suite of tools for the presentation of engaging imagery and video information pertaining to the diamond's beauty and quality. The Sarine Profile™ is distinctive in that it caters to the new generation of buyers' engrossment with their mobile devices and their passion for social media. The Sarine Profile™ allows the retailer to display its inventory according to its specific branding goals, as best suited to the merchandise being sold and the market in which it is sold. Each retailer, online or brick and mortar by nature, can create its unique branding message and buying experience by utilising our various tools to provide:

• Imaging, video or still, as provided by the Sarine Loupe™;
• Light performance video analyses and grading, as provided by the Sarine Light™;
• Other graphic information such as Hearts and Arrows, Cut proportions in 2D or 3D, laser inscription viewing and more;
• The 4Cs, whether from our or third party grading;
• Retailer specific promotional material.

In today's world where ESG (environment, social and governance) concerns garnish ever-increasing attention, responsible and sustainable sourcing and manufacturing are also key to a brand's success. The Sarine Diamond Journey™ addresses this need by uniquely providing concrete verifiable documentation of the rough diamond's provenance and its audited journey from rough stone to polished jewel. Critically, it is the only traceability solution in the industry based on factual (and not declaratory) data, enabled by Sarine's uniquely extensive presence in the diamond industry's midstream. In 2023 over 35.5 million rough diamonds were scanned using our Galaxy® systems and over 70 million were planned using our online Advisor® cloud-based software (including our older non- online versions of the Advisor® software we estimate some 100 million stones in total were planned on our systems in 2023). The online software can record the stone's actual polishing phases for the Sarine Diamond Journey™, thus generating a comprehensive factual testimonial. Integrated with the AutoScan™ Plus source registration, this service provides a unique record of the stone from mine to retail, which serves as a tribute to the retailer's commitment to ESG principles, as well as being the most robust scalable solution to meeting new G7-mandated sanctions, should they stipulate verifiable technology-based sourcing documentation requirements. The Sarine Diamond Journey™ was adopted in 2022 by leading brands - the Maison Boucheron house and the Aura blockchain consortium, a not- for-profit organisation aimed at enhancing transparency and trust in the luxury industry, comprising of LVMH, Cartier, Prada and OTB.

Upon the polishing process's completion, proprietary technology for "fingerprinting" the polished stone, TruMatch™, can also be engraved on the stone without denigrating from its beauty or value. TruMatch™ can subsequently be used to singularly verify the identity of the polished stone in the retail outlet, whether loose or mounted in a setting, and link it to its Sarine Diamond Journey™ record. This so-called digital twin can be utilised by retailers offering extended warranties, providing cleaning and repair services or proposing "buy- up" exchanges, as well as by financial institutions or insurers in need of reliable unequivocal identification of the item.

Finally, an additional technology we offer for the retail environment is the 3D-Origin™. It is a true-to-form3D-printed model of the rough diamond, from which the specific polished diamond was fashioned. Typically, it is offered to the consumer boxed together with his/her polished gem, creating a unique fascinating conversation piece.

2023

Sarine acquires a 70% stake in New York's Gem Certification and Assurance Lab (GCAL) to gain a recognised and respected channel into the expansive key U.S. retail industry for its AI-derived grading paradigms for both natural diamonds and especially for LGD.

Sarine signs a collaboration agreement with the DELGATTO Diamond Finance Fund (DDFF), the diamond industry's largest non-bank financing entity, whereby the DDFF will employ Sarine's Rough Diamond Appraisal Report as its means to assess a rough diamond's intrinsic value for collateral purposes. The new "Del Gatto

360 - Powered by Sarine" service also provides interested parties a unique option to have the financed rough diamonds manufactured by the DDFF with end-to-end traceability fully documented by the Sarine Diamond Journey™.

Sarine announces cooperation with celebrated diamond manufacturer and trader Andre Messika and the Climate Neutral Group, a renowned authority in carbon emissions assessment, with the introduction of CarbonVERO™ that records the energy consumption and carbon footprint of each individual diamond, from its origin as mined rough to its exquisite polished form. The resultant data is an optional add-on to Sarine's Diamond Journey™ traceability solution.

Sarine develops a completely data-backed verifiable traceability solution for melee diamond parcels, the small yet precious stones used extensively in jewellery settings. A major breakthrough supporting the expanding need for transparency in the diamond industry, developed and tested with the collaboration of Rubel & Ménasché, a distinguished French maison for high-end jewellery, the melee traceability is yet another option available with Sarine's Diamond Journey™ traceability solution.

DeBeers subsidiary Tracr™ and Sarine announce their intention, on the backdrop of pending G7 sanctions to be enacted on Russian diamonds, to collaborate on a scalable cost-effective solution for use in tracking diamonds from their source to the point of entry into G7 countries, utilising a dedicated digital portal. The solution will combine the complementary benefits of both the Tracr™ blockchain platform and Sarine's Diamond Journey™ traceability solution.

Sarine initiates delivery of the Sarine AutoScan™ Plus, its refined highly productive rough diamond source registration system. The new system is much more affordable, is compact enough to fit on any tabletop, offers lightning-fast productivity (~ 900 stones an hour!) and requires no specialised operational expertise. Its versatility enables installation anywhere, allowing immediate operational production. The Stargems Group, a vertically integrated business with a legacy of over 40 years in the trading of rough diamonds, took delivery of the first system. Of note, on the backdrop of expected G7 restrictions on Russian-sourced diamonds, registering rough diamonds with the Sarine AutoScan™ Plus system at the rough diamonds' source is crucial as it fully addresses three key hurdles:

• It enables "equal opportunity" registration of their rough supply to all players, regardless of location and size;
• It provides a cost-effective solution with minimal overhead, by eliminating shipping time and costs to centralised registration sites; and
• It empowers robust downstream robust verifiable diamond tracing through the Sarine Diamond Journey™ solution.

2022

French High Jewellery Maison Boucheron, owned by the Kering Group (KER.PA), launches a bridal jewellery line, Etoile de Paris, for which it issues Boucheron-branded "powered by Sarine" diamond reports based on Sarine-generated data including Sarine Diamond Journey™ traceability and our AI-derived 4Cs grading.

Advisor® 8.0 is launched, specifically developed to benefit the very significant segment of smaller rough diamonds, wherein an estimated 900 million stones are polished annually. Advisor®

8.0 incorporates more than twenty new features along with the refinement of existing processes, focused on extracting more polished yield from a given rough stone and increased productivity

- shorter run cycles, augmented automation, offline and overnight autonomous operation and automatic recovery from system failures.

Sarine and Synova (https://www.synova.ch) execute a Memorandum of Understanding to cooperate on the integration of Sarine's Advisor® rough diamond planning software with Synova's DaVinci high-end total solution diamond sawing, shaping and faceting system.

Sarine introduces a unique rough diamond appraisal and valuation report for financing and insurance purposes. The report is based on the comprehensive analysis and pricing of the polished diamonds potentially optimally derived from the rough stone to provide a realistic indicative market value.

The Belgian Bonas Group, the largest independent diamond and gemstone tender house, solely brokering the rough productions from twelve mines (Blue Rock Diamonds, Braúna, IMDH, KAO, Lucapa Diamond Company, Lucara Diamond, Mountain Province Diamonds and Stornoway Diamonds) sourced from multiple geographies (Botswana, Brazil, Canada, Lesotho, Namibia and South Africa) adopts the Sarine Diamond Journey™ traceability programme to market stones with a guaranteed registered geographical origin.

The Aura Blockchain Consortium, aimed at enhancing transparency and trust in the luxury segment and an initiative of LVMH, the Prada Group, Cartier (a subsidiary of the Richemont Group) and the OTB Group, chooses Sarine's Diamond Journey™ traceability solution as its preferred provenance standard for polished diamonds, finding it to be the best-in-classone-of-a-kind technological solution for diamond traceability, with significant added value to both luxury brands and their customers.

Sarine unveils a Pay Per Value (PPV) option for its Galaxy® family of scanning and inclusion mapping systems. The PPV feature, derived from artificial intelligence (AI) technology, automatically classifies the scanned rough diamond's value range, based on its weight and discerned internal features, and appropriately discounts the service pricing to adjust for the stone's realistic value. This enables the cost effective scanning of lower quality stones, significantly broadening the addressable market for our Galaxy® services.

Sarine announces the commercial rollout of its AI-basede-Grading™ to the midstream manufacturing segment, enabling grading on-site with lower direct costs, virtually no indirect costs, substantially shorter process times and operational flexibility. Along with its e-Grading™ rollout, Sarine also introduces its second-generation of

AI-empowered grading technologies - the Sarine Clarity-II™ (with grading across the entire spectrum of grades, from I to VVS) and an updated version of Sarine Color™.

The Meteorite™ Plus system is launched - a completely innovative solution for the cost-effective scanning of very small rough diamonds. The Meteorite™ Plus significantly reduces the total cost of ownership (TCO), by offering 50% faster operation and enhanced automation, so that a single operator can control up to five systems simultaneously.

An Indian court rules that five manufacturers in Surat are guilty of copyright infringement and the illegal use of pirated Advisor® rough planning software. Due to the severity of the issue and the clear-cut evidence presented to the court, it issues a quick and final judgement against the infringers, ordering the immediate removal of the illicit software from the infringing parties' computers. The court decision's wording makes clear to the industry that the use of unlicensed or pirated versions of Advisor® software is illegal and will not be tolerated.

2021

Stargems of Dubai, a leading tender house for rough diamonds in the secondary market, adopts our technological paradigm for digital tenders. Following their lead, additional Dubai-based tender houses also adopt our digital tenders, including Choron, Gem Auctions, Koin and others.

HB Antwerp, a company based in Belgium focused on technology- driven sourcing, analysis, cutting and polishing of diamonds for luxury brands and discerning private customers, and Sarine enter into a partnership agreement. Sarine provides its industry-leading inclusion scanning, rough planning, AI-grading and Sarine Diamond Journey™ traceability solutions, and is remunerated based on a percentage of the value of the produced polished diamonds.

Sarine and the Constell Group, a service provider to the diamond industry with operations in India and Southern Africa focused on the sorting and polishing of rough diamonds, announce a strategic collaboration agreement. The collaboration focuses on providing Sarine's technological solutions to the rapidly growing segment of lab-grown diamonds (LGD). The business model remunerates Sarine based on the number of diamonds processed by Constell, regardless of the specific technologies applied in the processing.

Grib Diamonds, a Belgian entity with mining operations in Russia, which already sells their rough diamonds utilising Sarine's digital tender technologies, joins the Sarine Diamond Journey™ traceability programme.

Sarine commences its dual listing trading on the Tel-Aviv Stock Exchange (TASE) on 5 July 2021 under the symbol SARN.TA.

In a legal first, the court in Surat India issues an injunction against diamond manufacturer Rudra Diam, prohibiting any use of pirated Sarine Advisor® software and directing Rudra Diam to purchase legal Advisor® workstations.

2020

Sarine introduces the concept of e-Grading™ - self-executed polished diamond 4Cs grading by value-chain industry players (manufacturers, wholesalers and even retailers) on-site at their own facilities utilising Sarine's AI-drivencloud-linked technologies. By enhancing our technology-basedAI-derived 4Cs grading with additional functionality for process control and intra-process verification, e-Grading™ provides a time-saving,cost-cutting, in- house automated solution for the 4Cs grading of most polished stones, without necessitating the inefficient, time-consuming and costly process of sending goods offsite to a third-party grading facility (lab).

OUR MILESTONES

Sarine announces that it has expanded its collaboration with Clara Diamond Solutions Corporation, a subsidiary of miner Lucara, to provide sourcing and traceability documentation for Clara's diamonds, through the Sarine Diamond Journey™.

Due to Covid-19 impediments ALROSA expands its Sarine-enabled digital tenders, an alternative remote distribution channel, to all their "special" rough stones sized 10.8 carats and up.

The Sarine Diamond Journey™ is integrated with ALROSA's (the world's largest miner of rough diamonds by carat volume) sourcing data, to provide global retailers end to end traceability from mine to consumer for ALROSA sourced diamonds.

Sarine launches a co-branded light performance report with the National Gemstone Testing Center (NGTC) of China, China's largest gemmological lab, for Yuanyumei (Y & M) Jewelry, a leading high- end Chinese jewellery designer, manufacturer and wholesaler for their Rose D'Amour line.

2019

Sarine launches the 3D-Origin™, a 3D-printed accurate model of the rough diamond from which the polished diamond was derived. The 3D-Origin™ model is identical in its geometrical dimensions and features to the actual rough diamond, scaled for consumer convenience, and is generated as an optional tangible add-on to the Sarine Diamond Journey™ rough-to-polish diamond report.

New Art Ltd., a leading bridal diamond jewellery chain in Japan, is the first customer to adopt the Sarine Diamond Journey™, including the 3D-Origin™ option, as a centrepiece of its consumer experience.

Sarine signs a strategic framework with the National Gemstone Testing Center (NGTC) of China, the leading gemmological laboratory in China. The strategic framework aim is to advance diamond grading standards in China to the highest level and to implement the industry's most consistent grading, by combining Sarine's developments in the areas of artificial intelligence (AI) for the grading of a polished diamond's 4Cs with NGTC's extensive gemmological research and diamond testing expertise. The cooperation specifically aims to set new standards for light performance grading, diamond traceability and fingerprinting as well as digital solutions suitable for the retail diamond trade in China.

Sarine announces cooperation with ALROSA, the world's largest diamond miner by carats, implementing DiaExpert® 3D-mapping, Galaxy® inclusion scanning and other technology to augment ALROSA's rough Digital Tenders with detailed information pertaining to the offered rough stones.

Sarine develops an add-on for its Galaxy® inclusion mapping system to map the internal tension (stress) of a rough diamond - its location, structure/direction and estimated magnitude.

2018

Sarine sets a new standard in rough diamond planning accuracy, efficiency and yield with its introduction of an added-value upgrade for existing or new DiaExpert® platforms - the DiaExpert® Edge. The DiaExpert® Edge, uses advanced LED technology to achieve radically more accurate modelling, capturing even the most minute surface features and texture with incredible precision, allowing for much faster and efficient planning and increasing the yield and beauty of the polished stone with reduced risk.

Sarine's wholly-owned subsidiary, Sarine Polishing Technologies, Ltd., opens the first Sarine Technology Laboratory in Ramat Gan, Israel, utilising Sarine's breakthrough AI-based technological solutions for the automated, accurate, consistent and objective grading of a polished diamond's Clarity and Color.

OUR MILESTONES

Sarine's wholly-owned subsidiary Galatea, Ltd. launches the Meteorite™ system for the cost-effective inclusion mapping of very small rough stones, under 0.40 carats.

Leveraging on its extensive presence in the diamond industry's midstream (with tens of millions of rough stones polished annually utilising its rough planning platforms), Sarine launches the Sarine Diamond Journey™, highlighting the provenance of the diamond. The rough stone is traced through all its stages from unique rough stone to one-of-a-kind jewel.

Dominion Diamond Mines ULC ("Dominion"), Canada's largest independent diamond producer, introduces an enhanced CanadaMark™ website incorporating the new Sarine Diamond Journey™. The CanadaMark™ hallmark programme is Dominion's strategic initiative to assure the integrity of the supply chain of Canadian diamonds from mine to retail. Dominion's new CanadaMark™ documents the polished stone's audited journey from mine to retail and also includes Sarine Profile™ imagery and light performance data.

Berkshire Hathaway's Borsheims selects the Sarine Profile™ to accompany each of Mr. Warren Buffett's very limited series of Signature Diamonds sold at their flagship store during the annual Berkshire Hathaway Shareholders Meeting in Omaha, Nebraska. Each stone was engraved on-site by Sarine's DiaScribe™ system with Mr. Buffett's signature, its certificate number and a personalised commemoration or message of affection of the buyers' choice.

Sarine's wholly-owned Indian subsidiary opens second Sarine Technology Laboratory in Mumbai, India, servicing this key Indian polishing centre. The lab offers AI-based 4Cs grading, diamond authentication, treatments verification, light performance and the Sarine Diamond Journey™ rough to polish provenance documentation, as well as advanced interactive diamond imaging services.

Sarine enters into an agreement with Clara Diamond Solutions Corporation, a subsidiary of the Lucara mining group. Clara proposes to match rough diamonds (utilising our inclusion mapping and rough planning technologies) directly to jewellery manufacturers needs by predetermining that the resultant polished diamonds meet the manufacturers' needs to fulfill open retailers' orders.

2017

Sarine and GGTL Laboratories (Switzerland) sign a cooperation agreement to address the detection of lab-grown diamonds of all sizes.

Sarine's wholly-owned Indian subsidiary, Sarin Technologies India Pvt. Ltd., opens a self-owned new facility in Surat, India, "Sarin House", consolidating all the Group's Surat-based activities for the Indian diamond manufacturing industry under one roof. Located in India's primary diamond manufacturing hub, the facility comprises

55,000 square feet (5,100 square meters) over six floors, and houses approximately 400 staff members. Sarin House is the home for our pre- and post-sales Customer Care and Support as well as for the Galaxy®, Quazer® and Sarine Profile™ service centres.

Sarine releases the seventh generation of its industry-leading rough planning software tool. Advisor® 7.0 includes numerous innovations that advance rough planning to further streamline the process and optimise the yield:

• Centralised Automated Planning (CAP), enabling automated planning to run in the background, so staff can simultaneously run hundreds and even thousands of planning solutions.
• Customised pricing as per the manufacturer's own internal prerogatives.
• Planning based on optimisation of factors beyond the 4Cs - Sarine Light™, Hearts and Arrows and Photo Real.
• Graphic indications of any internal stress in the rough diamond.

Singapore Exchange Mainboard-listed Soo Kee Group Ltd. (42G:SI), extends its adoption of the Sarine Profile™ to China for its Love & Co.'s brand's Lovemarque diamond collection, introducing the first fully digital diamond report entirely in Chinese with a powerful visual and experiential 'story' of the diamond. The brand aims to establish

550 points-of-sale in China and Hong Kong by the end of its fifth year of operation.

Our Galaxy® family of inclusion mapping systems scan 10 million stones in aggregate worldwide, in a single year, in 2017, having previously scanned 10 million stones in aggregate in the 8 years from launch in 2009 through 2016.

2016

Sarine's wholly-owned subsidiary, Sarine Color Technologies Ltd., announces that it acquired the technology and assets of DiaMining Ltd., an established developer of Point of Sale (POS) applications for diamonds, gemstones and jewellery, and renames it Sarine Connect™.

The Soo Kee Group, Singapore's leading established jeweller, also listed on the Singapore Exchange (42G:SI), announces they have adopted the Sarine Profile™ diamond display paradigm, including Sarine's unique light performance grading, for Love & Co., their bridal specialist brand, and will launch the Sarine Profile™ as a cornerstone of their in-store and online customer experience.

Sarine announces that it has developed new and groundbreaking technology that will provide automated, objective and consistent inclusion mapping in polished diamonds and Clarity grading - a first for the diamond industry, as well as a system for automated objective and consistent Color grading.

2015

HRD Antwerp, the leading Belgian gemmological laboratory owned and operated by the Antwerp World Diamond Center (AWDC), and Sarine announce plans to facilitate interoperability between Sarine's Advisor® diamond planning software and HRD Antwerp's EOS Fancy bruting and girdling (i.e., shaping) systems.

Gemological Science International (GSI) adopts Sarine's DiaMension® Axiom as a high-end proportion measuring system.

The Gemological Institute of America (GIA) verifies Sarine's DiaMension® Axiom's unmatched accuracy as per announced specifications and adopts Instructor® as a standard software package for polished diamond proportion measuring and Cut grade derivation.

Sarine pioneers the Sarine Profile™, offering succinct image and video information of a diamond's quality and beauty, to enable online transactions with a completely new level of confidence and cost effectiveness, and enhancing the in-store buying experience by empowering the consumer to make a truly informed decision.

Sarine Loupe™ service centres open in Los Angeles and Hong Kong in collaboration with Brink's Global Services.

Sarine celebrates 10 million stones being scanned by its Galaxy® inclusion mapping solution since the system's introduction in 2009.

Sarine releases the Advisor® 6.0 planning software, with additional features and a new level of intellectual property protection based on the utilisation of cloud architecture, constituting an additional layer in the penetration barrier to would-be competition to our industry- leading rough diamond processing solutions.

Sarine launches the Meteor™ small stone inclusion mapping system, for stones ranging from 20 to 89 points, an addressable segment of some 50 million stones annually, capable of almost double the throughput of previously introduced inclusion mapping systems of the Galaxy® family.

2014

The English spelling of the Company's name is corrected to Sarine Technologies Ltd.

Sarine launches the Instructor® 3.0, a new and significantly enhanced version of its polished-diamond quality assurance and polishing process control software. The new software runs on Sarine's rough and polished diamond modeling platforms and significantly improves the accuracy of polished diamond modeling, in particular for fancy-shaped diamonds, and the tools provided for in-process polishing decisions.

Sarine launches the Quazer® 3, offering a completely new control system with unique advantages, including an enhanced fully automated pie cutting feature, facilitating accurate sawing of highly advanced sawing profiles. The Quazer® 3 supersedes the original Quazer® and second generation Quazer® II, introduced in 2005 and 2010 respectively, both based on green laser technology, which themselves pioneered multiple breakthroughs in the sawing, cutting and shaping of rough diamonds and became the de-facto standard high-endmarket-leading solutions.

Rapaport's RapNet® industry-leadingweb-based platform selects our subsidiary's Sarine Loupe™ as the first de-facto standard imaging system and provides enhanced seamless integration to the Sarine Loupe™ imagery to empower online trade.

DiaMension® Axiom's accuracy is verified by Tiffany & Co, and selected to formalise Tiffany's new and more robust standards of Symmetry. In 2012 Tiffany challenged Sarine to measure the facet symmetry features of a polished diamond with unprecedented high accuracy, as previously these features could not be determined by

OUR MILESTONES

any existing device and were manually evaluated by gemmologists using microscopes. Sarine's DiaMension® Axiom thus sets a new bar for polished diamond analysis and grading.

Sarine Color Technologies Ltd. launches Real View, an upgrade to the Sarine Loupe™, adding a stunning rendition of the polished diamond's actual appearance. The enhanced Sarine Loupe™ comprises three complementary layers of imaging. The first provides a dazzling presentation of the diamond's appearance (Real View), the second a table-only view of the diamond, as inspected when using an actual physical loupe (Top Inspection), and the third shows minute details of the diamond's Cut workmanship and internal Clarity characteristics (3-D Inspection).

Sarine North America Inc., Sarine's wholly-owned US subsidiary, opens a Sarine Loupe™ service centre for diamond imaging at its offices in New York's Diamond District on 47th Street.

2013

Sarine launches the DiaExpert® Atom rough planning and marking system for the smallest of rough diamonds - 0.01 through 0.27 carats in size, which offers higher processing speeds and more competitive pricing than the DiaExpert® Nano system, launched in late 2007.

Sarine's wholly-ownedUS-based subsidiaries close on the purchase of approximately 500 square meters (5,500 square feet) of office in the new International Gem Tower in New York City (on 47th Street - Diamond Way) for the Group's North American base.

Sarine Color Technologies Ltd., a wholly-owned subsidiary of Sarine, launches the Sarine Light™ with launch customer CIMA, one of Japan's leading bridal diamond jewellery chains with nearly 60 outlets nationwide, for certification of the light performance of all its solitaire diamonds measuring one quarter carat and up.

Galatea introduces the Galaxy® Ultra system for the inclusion scanning of a rough diamond at microscope level magnification. The Ultra enables the detection of inclusions with single-micron resolution, including the detection of clouds of inclusions of single micron size, to determine whether a user can achieve an Internally Flawless (IF) Clarity grade.

2012

Sarine launches the Diamond Assay Service (DAS), an online subscription service for diamond wholesalers, retailers and appraisers, to automatically appraise polished diamonds and their potential for re-cutting and re-polishing so as to derive greater value.

Galatea launches the Galaxy® XL system, doubling the size of rough diamonds that can be scanned for internal inclusion mapping purposes to 32mm, allowing rough diamonds weighing up to 200+ (record 220) carats to be processed.

The Gemological Institute of America (GIA) concludes that the DiaMension® HD (High Definition) has the necessary accuracy and repeatability to be used to evaluate symmetry. The GIA found that "[the] DiaMension® HD tested by GIA, demonstrated an apt capacity to deliver accurate and repeatable symmetry results" and that "improvements in the operation and accuracy … now enable us to also measure … symmetry parameters during the grading process".

Sarin Technologies India Private Limited purchases land measuring approximately 2,400 square meters in Surat, Gujarat, India for its new facilities for customer service and technical support and training, as well as its service centres and other logistics infrastructure.

Sarine launches the Advisor® 5.0 version of its best-selling rough- diamond planning software to further improve the value of the polished diamonds derivable from the rough raw material and the software's productivity and ease of operation.

OUR MILESTONES

2011

The American Gem Society Laboratory ("AGSL") concludes an evaluation of the DiaMension® HD and, based on the system's superior performance in 3D modeling of polished diamonds, decides to augment its existing DiaMension® systems with the newer HD model.

Sarine Color Technologies Ltd., a wholly-owned subsidiary of Sarine, debuts its light performance system, the Sarine Light™, which quantifies a polished diamond's appearance by accurately measuring its light performance characteristics.

Sarine launches the DiaMark® HD system, equipped with a superfine laser, complementing the DiaMension® HD and Instructor®.

Sarine Color Technologies Ltd, a wholly-owned subsidiary of Sarine, acquires the D-See technology, a revolutionary imaging method to capture realistic, accurate and objective imagery of a polished diamond, including its internal features. Derived from this technology, the Sarine Loupe™ system enables the electronic transmission of comprehensive imagery from seller to buyer, providing a means to truly assess a polished diamond from a multitude of angles and at various magnifications without having it physically in hand.

2010

The Gemological Institute of America (GIA) concludes an in- depth comparative evaluation between their internal methods of round brilliant diamond Cut grade determination and Sarine's implementation of the Facetware® database in Sarine's measuring systems, which shows highly compatible results between the two methods. Following on this achievement, GIA also concluded an initial evaluation of the DiaMension® HD system and commenced the phased upgrading of their existing DiaMension® systems to the newer HD product.

Sarine launches the DiaExpert® Nano 6.5 for the fast processing of small rough diamonds from 0.15 to 0.70 carats in weight, an enhanced model of the DiaExpert® Nano, introduced in 2007, for slightly larger small stones.

Galatea Ltd., a wholly-owned subsidiary of Sarine, launches the Solaris™ 100 inclusion mapping system for smaller rough diamonds from 0.9 to 2.5 carats in weight, based on the same technology utilised in the Galaxy® 1000 system, to offer customers who specialise in smaller sized rough diamonds the same benefits of the Galaxy® system in a more cost-effective package.

Sarine launches the Strategist® saw-plane planning system, which integrates the rough planning process and the Quazer® sawing process to avoid sawing perils such as cracks, fissures and bubbles, thus allowing for a safer and higher yield laser cutting plan.

Sarine Color Technologies Ltd., a wholly owned subsidiary of Sarine, acquires light performance technology from Overseas Diamonds Technology.

2009

Galatea Ltd., a wholly-owned subsidiary of Sarine, launches the Galaxy® 1000 and 2000 systems for the automated inclusion mapping of rough diamonds. These systems revolutionise the planning and production of diamonds by allowing complete optimisation based on Clarity as well as Carat weight and Cut, a leap forward from the DiaExpert® Eye. Service centres are opened in India and Israel, in which the technology is offered for use at a low carat-based fee. An initial system is delivered to a launch customer towards year's end.

Sarine launches the Instructor®, a new software package that runs on our polished diamond measuring equipment (DiaMension®, DiaMension® Lab Edition, DiaMension® HD and DiaScan® S+), for improving the yield and assuring the quality manufacturers can attain while polishing diamonds.

Sarine launches the DiaMension® HD, an advanced high-precision system, offering even more accurate 3D modelling for the measurement of polished and semi-polished diamonds. The precise 3D model allows users to evaluate not only the diamond's proportions, but also the stone's symmetry - including "naturals", facet misalignments, facet junctures, extra facets, and other fine cut and symmetry parameters.

2008

Sarine acquires 100% of the issued share capital of Galatea Ltd., which then becomes a wholly-owned subsidiary of the Company. At the time of the acquisition, Galatea was in the final testing stages of an automatic inclusion (Clarity) mapping system for rough diamonds, which is later known as the Galaxy® system.

Sarine acquires 23% of IDEX Online SA, an operator of a B2B polished diamond traders' network, a web portal for news, analyses and polished diamond price indices and publisher of a leading trade magazine. Shortly after the acquisition, IDEX Online launches an attempt to create a polished diamond spot market.

2007

Sarine introduces DiaExpert® Eye for the semi-automated inclusion charting of rough diamonds, supporting the need for considering inclusions (Clarity) in the planning and production of diamonds.

After Sarine evaluates the important market niche of small stone manufacturers, the DiaExpert® Nano, a unique product for the planning and marking of small stones, is launched.

2006

Sarine Color Technologies Limited, a wholly owned subsidiary of Sarine, introduces Colibri™. Colibri™ is a state-of-the-art colour grading product for polished diamonds, which calculates and grades the colour of the diamond as well as its fluorescence.

The Group's subsidiaries, GCI and Romedix, are renamed Sarine Color Technologies Limited and Sarine Polishing Technologies Limited, respectively. New subsidiaries, Sarin Hong Kong Limited and SUSNY LLC, are established.

2005

Sarine launches the Quazer® advanced green-laser system for sawing, cutting and shaping diamonds, establishing a new product line and climbing another rung on the ladder towards being a one- stop shop for the diamond manufacturing industry.

We introduce Facetware®, a software upgrade product for the DiaMension® and DiaExpert® product lines (and installed base), for the analysis of a polished stone's Cut grade in accordance with the definition of the Gemological Institute of America (GIA).

8 APRIL 2005 Sarine Technologies Ltd is listed on the Mainboard of the Singapore Exchange.

2004

Sarin Technologies India Private Limited is incorporated as a wholly owned subsidiary in India. Sarin India provides pre-sale,post-sale and technical support services to our Group's customers in India, Sri Lanka, and neighbouring countries, supplanting our dependence on a local distributor.