Sarine Technologies Ltd.

Legal Proceedings Report • Dec 11, 2022

ELEASE

PRESS RELEASE

Indian Court Rules in Favor of Sarine

- Court rules that use of pirated Advisor® software is illegal

- Injunction issued against five diamond manufacturers

Hod Hasharon (Israel), 11 December 2022 – Singapore Exchange Mainboard and Tel Aviv Exchange listed Sarine Technologies Ltd ("Sarine" and along with its subsidiaries "the Group") (U77:SI; SARN.TA), a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, wishes to inform the public that an Indian court has ruled against the illegal use of pirated Advisor® software.

Following the lawsuit filed by Sarine and the subsequent court-ordered raids, as previously announced on 19 May 2022, the court has found five manufacturers in Surat 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 collected during the raids, the court issued a quick and final judgement against the infringers - Gopi Impex, Nirghay Impex, Pramukh Gems, Dhiren Diamonds and Bhumika Gems. The court further ordered the immediate removal of the infringing software from the infringing parties' computers. The court decision makes clear that the use of unlicensed or pirated versions of Advisor® software is illegal.

David Block, Chief Executive Officer of Sarine, stated, "We are encouraged by the swift and decisive action taken by the Indian court. The court's ruling has made it clear that any company using unlicensed or pirated Advisor® software is breaking the law. We intend to aggressively protect our IP and will continue taking action against any entities involved in infringement."

About Sarine Technologies

Established in 1988, Sarine Technologies Ltd. is a worldwide leader in the development and manufacturing of advanced modeling, analysis, evaluation, planning, processing, finishing, grading and trading systems for diamonds. Sarine products include the Galaxy® family of inclusion and tension mapping systems, rough diamond planning and optimisation technologies, laser cutting and shaping tools, laser-marking, inscription and fingerprinting equipment, automated (AI-derived) Clarity, Color, Cut and light performance grading systems and traceability, visualisation and retailing services. Sarine systems have become standard tools in every modern manufacturing plant, properly equipped gemology lab and diamond appraisal business, and are essential aids for diamond polishers, dealers and retailers. For more information about Sarine and its products and services, visit http://www.sarine.com.

Contact:

APAC IR Mr. Lee Teong Sang Tel:+65-96339035 teongsang@cyrus.com.sg Sarine Technologies Ltd. Ms. Romy Gakh-Baram Tel:+972-9-7903500 romy.gakh-baram@sarine.com

4 Haharash St., Neve Neeman Hod Hasharon, Israel 4524075 Tel. +972-9-7903500 www.sarine.com