Sarine Technologies Ltd.

Legal Proceedings Report • May 19, 2022

ELEASE

PRESS RELEASE

Sarine Group Institutes Additional Legal Actions in India Against Suspected Intellectual Property Infringers

- Obtains court orders for court-appointed commissioner raids on eight facilities suspected of using illicit hardware and software

Hod Hasharon (Israel), May 19, 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, has further expanded its enforcement efforts against intellectual property (IP) piracy in India by taking additional legal actions against suspected infringers.

Sarine has filed additional lawsuits against a number of Indian entities in and around the city of Surat, India, through its Indian law firm ORTIS Law Offices, and was granted ex-parte orders for court commissioners to visit the premises of the alleged infringers to ascertain the presumed facts. The said court-ordered raids were executed on 18 May 2022 at eight various locations.

Sarine is not in a position to disclose any details about the executed fact-finding searches owing to undertaken confidentiality commitments and as the court proceedings are sub-judice. However, it is believed that the court commissioners were able to find materials, relating both to hardware and/or software, which appear to be infringing its patent and copyright IP.

David Block, Chief Executive Officer of Sarine, stated, "For the past thirty-plus years, Sarine's innovative and ground-breaking technologies have supported the diamond industry in India and led to ever increasing levels of manufacturing sophistication, higher yields and better quality, all at reduced levels of risk, thereby enhancing its profitability and propelling it to effectively dominate world diamond production. It is unfortunate that unscrupulous parties are tainting the entire Indian diamond industry. We are encouraged by the court's swift action, its understanding of the gravity of the situation and its granting of immediate steps to protect Sarine's legal rights. We are hopeful that the measures necessary to halt these blatantly illicit practises will be implemented not only to rightfully protect Sarine's substantial investments in its IP, but also to safeguard the integrity of India's diamond industry that relies so heavily on the public's trust, and to enable Sarine to continue developing ever more advanced technologies for the diamond industry."

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 North America IR Ms. Miri Scharia-Segal Tel: +1-917-607-8654 msegal@ms-ir.com

Sarine Technologies Ltd. Ms. Romy Gakh-Baram Tel:+972-9-7903500 romy.gakhbaram@sarine.com

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