Sarine Technologies Ltd.

Investor Presentation • Mar 6, 2024

SARINE TECHNOLOGIES LTD.

Corporate Presentation March 2024

Disclaimer

This presentation may contain statements regarding the business of Sarine Technologies Ltd and its subsidiaries (the "Group") that are of a forward looking nature and are therefore based on management's assumptions about future developments. Such forward looking statements are typically identified by words such as 'believe', 'estimate', 'expect', 'intend', 'may', and 'project' and similar expressions as they relate to the Group. Forward looking statements involve certain risks and uncertainties as they relate to future events. Actual results may vary materially from those targeted, expected or projected due to numerous factors. The reader is cautioned to not unduly rely on these forward-looking statements. We do not undertake any duty to publish any update or revision of any forward looking statements.

Potential risks and uncertainties include such factors as general economic conditions, industry-specific cycles, foreign exchange fluctuations, interest rate changes and regulatory developments. Such factors that may affect the Group's future financial results are detailed in our listing prospectus / circulars, listed in this presentation, or in the management discussion and analysis section of the Company's Annual Report and filings with the SGX. We will announce all material information about the Group on the SGXNET and TASE website in accordance with the rules of the SGX-ST Listing Manual and TASE requirements,

The information contained in this presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Sarine Technologies nor any of its affiliates, directors, officers, advisers or representatives shall have any liability whatsoever for any loss arising, whether directly or indirectly, from any use or distribution of this presentation or its contents.

This presentation is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for shares in Sarine Technologies.

OurTechnologies Support The Entire Value Chain

Sarine Technologies, through its application of patented hardware solutions (proprietary mechanics, electronics, optics and lasers) and sophisticated software utilising artificial intelligence (AI), big data, cloud computing and GPU (aka "Nvidia") methodolgies, 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 and trade.

Leading provider of technological products and services to the diamond industry from mine to retailer

Largest technology installed base across the entire industry value chain

~100 million diamonds processed annually using our systems

Neutrally positioned and not participating directly in the trade of rough or polished diamonds

Investment of \$100's of millions in R&D maintains innovation and leadership

Sarine Solutions For All Players In The Value Chain

BRAND

Polished diamond evaluation and sorting Verifiable traceability AI–based 4Cs grading

JEWELRY MANUFACTURER

Polished diamond evaluation and sorting Verifiable traceability

WHOLESALER / RETAILER

Polished diamond evaluation and sorting Verifiable traceability AI-based 4Cs grading Consumer information / experience

Revolution Phase I

FROM TRADITIONALLY MANUAL PLANNING TO COMPUTERIZED PLANNING

• Traditionally based on worker skill and experience: long training process and inconsistent results from different workers
• Computerized planning eliminates most guesswork and risk and enables better utilization of rough diamond material.
• Multiple polished diamonds from a single rough diamond (manually almost never more than two)
• From 2006 initial use of manually indicated inclusions (very rudimentary diamond Clarity solution)

Advisor® Software

THE MOST WIDELY USED ROUGH PLANNING SOFTWARE

Sarine's Advisor® revolutionized diamond planning, as the world's first automated, computerized planning software. Over the last 25 plus years, technological breakthroughs and efficiency features continuously implemented:

• 2022 Advisor® 8.0 new features and refinement of processes specifically for smaller rough stones.
• 2024 Cloud-computing and GPU enabled Most Valuable Plan (MVP) automates and optimizes planning to new levels. Immediate addressable market of 33 million stones processed in 2023. Should drive expansion to new customers and bolster capital equipment sales.
• Over 25,000 installations - estimated 100 million rough diamonds planned annually. Estimated 90% market share for stones >2 carat. Optimal use of rough diamond weight increased by nearly 50% from ~35% to over 50%.

Revolution Phase II - Galaxy® Family

LEADING ROUGH PLANNING TECHNOLOGY

• The world-leading solution for the fully automated detection and mapping of internal imperfections in rough diamonds. The patented Galaxy® scans rough diamonds and accurately maps all the inclusions in the diamond regardless of their type, size and location.
• Price Per Carat model with >80% gross margin drives today over 40% of Group top line
• Total installed base of 830 systems (as at 31 December 2023)
• Various Galaxy® models effect solutions for higher clarities (VVS), larger diamonds up to 200 carats and the high-speed processing of small and very small sizes down to hundreths of a carat. The Meteorite Plus system, released in 2022, expands technology affordability into the very small stone segment comprising 900 million stones annually, with a realistic additional addressable market of ~ 250 million stones annually, creating robust market for future sales of ~ 1000 systems and potential additional significant recurring revenue.
• No legal competition for Group's patented technology; impaired by patent and copyright infringements.

Digital Tenders

PREFERRED PLATFORM FOR ROUGH DIAMOND TRADING

• Sarine's solution provides both rough diamond producers and secondary wholesale tender houses, along with rough diamond buyers, with the ability to trade rough diamonds more efficiently than ever before.
• The diamonds are scanned on Sarine's DiaExpert® and Galaxy® systems for external and internal mapping of their features, and can be uploaded to traceability blockchain.
• Covid-19 was a catalyst for our digital tenders which have rapidly become an important online platform for rough diamond sales.

Retail Downstream Revolution

WHAT ARE THE B2B CHALLENGES?

• Value-chain transparency consumers want information pertaining to sustainable and socially responsible mining, sourcing and polishing of diamonds, as well as to beauty and quality of workmanship. Governments demand proof of origin of diamonds to meet new sanction paradigms.
• Today's consumer also wants information presented in intuitive and engaging digital formats enabling support of social media.
• Current manual grading subjective and insufficient for decision making process, dictating necessity for actual visual inspection at sourcing and leading to significant rejection of delivered diamonds (up to 30%).
• LGD creating entire new market of lower priced goods, dictating need for differentiation and requiring documentation of quality at a completely different cost level.

Sarine Diamond Journey Traceability

THE ONLY TRACEABILITY BASED ON ACTUAL VERIFIABLE DATA

• Not based on declaratory information, but on actual real-time collated data and imagery which tracks stone through key stages from sourcing at mine through polishing, culminating in the final polished gem; also captivates consumer with insight into painstaking craftsmanship of creating his/her unique gem.
• Leverages Sarine's extensive presence in the polishing segment to implement solution with minimal overhead, disruption or cost, based on existing installed base of Sarine's industry-leading technologies.
• Collaboration with the Aura Blockchain Consortium (LVMH, Cartier, Prada and others) and additional high-end sustainabilityminded brands, such as French Maison Boucheron.
• Collaboration with DeBeers TracrTM blockchain to empower polished diamond origin verification, as required by G7 (and other) countries.
• New AutoScan Plus supports rapid registration of rough diamonds at speeds nearing 1000 stones per hour. Various miners and wholesalers in trial implementations to meet G7 sanction mandates. Already adopted by key wholesaler Star Gems in Dubai.

AI - Derived 4Cs Diamond Grading Systems

• Groundbreaking Sarine Clarity AI and big-data-derived Clarity technology provides automated, objective Clarity grading – a first for the industry. More consistent than manual process, refines Clarity grading and enhances polished diamond sorting by manufacturers and by retailers. Sarine Color AI-based Color evaluation technology provides best-in-class automated and objective Color grading.
• Already implemented in U.S., Japan and Europe (e.g., Maison Boucheron).
• With the 2022 rollout of on-site e-Grading to the manufacturing segment, Sarine brings automated grading to the source, providing a more efficient, abbreviated, cost-effective supply chain. e-Grading generates per-carat charge (optionally packaged with Sarine Diamond Journey traceability) and expands the Group's recurring income and improve margins.
• 2023 acquisition of NY-based renown GCAL lab provides channel into U.S. market for natural and LGD stones. 2024 launch in India of GCAL branch labs increases addressable market and reduces direct and indirect costs.
• Addresses annual market of US\$500M of natural diamond grading and US\$100M of LGD grading (expanding rapidly).

Merger Of GCAL Into The Sarine Group

2024 – GCAL BY SARINE BRAND 4Cs CERTIFICATES

• Synergies between GCAL's quality grading processes and Sarine's advanced technologies create growth opportunities in U.S. and worldwide markets.
• Sarine's AI-derived cloud-based grading technology and verifiable-data based Sarine Journey traceability paradigm bolster GCAL's strong brand in the US market, backed by an industry-unique consumer money-back guarantee.
• Merger creates immediate well-established and highly-regarded channel into grading market for US retail.
• Indian branch labs at Sarine's Indian HQ and e-Grading installations on-site at manufacturers, subject to GCAL's uncompromising quality control, avail cost-savings and expansion.
• The new merged entity, GCAL USA LLC, continues to be led and managed by GCAL's seasoned management team, who have retained a significant 30% interest in the endeavor.

Value of Market Segments in US\$ (2022)

Our products increase profits at all segments of the diamond value chain from purchase of rough diamonds to sale of polished ones

Lab-Grown Diamonds (LGD)

LGD MARKET OVERVIEW

• LGD are diamonds identical to natural diamonds in all physical, chemical and optical characteristics, but are man-made, created using various technologies.
• LGD are already ~50% of U.S. retail in 2023 (by piece count not dollar value). Expected to continue slowing growth in U.S., primarily for fashion jewelry, and to penetrate additional markets.
• Luxury brands overall continue to shun LGD. Walmart offering LGD at rock bottom prices (~US\$ 600/ct.), which should underpin preference for natural diamonds in luxury and bridal markets, creating new equilibrium between natural stones and LGD.
• LGD are forecast to eventually create an expanded parallel market in addition to today's natural diamond jewelry market, as price point opens channels to first-time diamond buyers in evolving middle classes economies like China, India and others (potentially hundreds of millions of new consumers).

Lab-Grown Diamonds (LGD)

SIGNIFICANT MARKET OPPORTUNITY

• Our industry-leading technologies, which have revolutionized the natural diamond value chain, create additional value also for LGD. We are thus aggressively pursuing this market of some 20 million of carats manufactured annually and growing.
• In demos and for a major launch customer, Sarine has demonstrated meaningful added value averaging US\$ 1.5 per carat from Advisor® 8.0 planning technologies as applied to LGD. Revenues from this segment commenced in Q1 2024.
• Due to prohibitive direct and indirect costs of third-party lab grading for LGD goods, grading done today by "outsourcing" with no uniform grading standards, no consistency and poor oversight and quality control. e-Grading is the natural alternative with consistent grading, ongoing quality control improvement from big data AI processing, all at similar or even better price points.
• New GCAL by Sarine reports launched India in Q1 2024.
• Existing LGD grading market already US\$ 100 million annually and expected to continue growing as LGD expands to new markets.

2024 Prospects

• Continued natural diamond market domination of inclusion scanning and mapping, rough planning and related manufacturing products and services. Advisor ®8, MVP, Meteorite Plus and refined Meteor Plus with 50% higher throughput to be launched mid-2024, driving our ongoing penetration of market segment of small stones.
• New Most Valuable Planning (MVP) planning addresses broad segment of rough stones under a carat (realistic TAM of some ~ 250 million stones annually) adding significant value to manufacturers. Launched in Q1 2024, will increase recurring revenues from existing customers and open doors to new customers (currently using pirated IP or manual solutions) and drive additional sales of capital equipment and generating recurring service use fees.
• Our planning technologies generate significant added value to LGD manufacturing and have started penetration of this expanding market, already 20 million carats annually. Commercial services commenced in Q1 2024.
• Sarine Diamond Journey and DeBeers Tracr collaboration, along with AutoScan Plus offering for mines and wholesalers, provide only technological data-based traceability offering for G7 sanctions implementation mandated as of 2024 on estimated 3 million plus polished diamonds half a carat and above in weight, as well as for consumer and luxury brand ESG concerns.
• Acquisition of GCAL and implementation of AI-derived 4Cs e-Grading addresses natural diamonds and expanding LGD retail trade. Target to capture 8-10% of US\$ 100 million LGD grading market in 2024, as well as to continue roll-out to natural diamond manufacturers, initially for in-house grading refinement.

2/22/2024

The Diamond Industry Reimagined

¹⁹ 35 YEARS OF INNOVATION