Petra Diamonds Limited

("Petra" or the "Company" or the "Group")

Directorate Changes

Petra today announces that Octavia Matloa, independent Non-Executive Director, will retire from the Board of Petra at the end of June 2023 having been an independent Non-Executive Director since 2014.  Consequently, Octavia will also step down as the Company's designated workforce engagement Non-Executive Director, Chair of the Company's Social, Ethics & Diversity Committee and member of the Company's Audit & Risk, Remuneration, Nomination and Investment Committees, also with effect from the end of June 2023.

Lerato Molebatsi has been appointed as an independent Non-Executive Director of the Company, effective 3 April 2023. Lerato will serve on Petra's Social, Ethics & Diversity, Audit & Risk, Remuneration, Nomination and Investment Committees and with effect from 1 July 2023, will become the Company's designated workforce engagement Non-Executive Director and Chair of the Company's Social, Ethics & Diversity Committee.

Lerato is currently the lead independent Non-Executive Director of the South African Reserve Bank, having been appointed in 2019.  Lerato is also an independent Non-Executive Director of Spur Corporation, the restaurant franchiser listed on the Johannesburg Stock Exchange where she is also Chair of the Social, Ethics and Environmental Sustainability Committee. She is a member of the Remuneration Committee of South Africa's Financial Sector Conduct Authority; prior to this, Lerato was deputy Chair of the Adrian Group, a Kenyan telecommunications company.

Lerato was previously: CEO of General Electric South Africa from 2016 until 2019, having joined General Electric in 2015 as their Director for Government Affairs and Policy for Southern Africa; Executive Vice President, Communications and Public Affairs at Lonmin plc; Deputy Director General, Corporate Services at South Africa's Department of Labour; and Special Advisor to South Africa's Minister of Transport.  She has also held senior positions at Old Mutual and Sanlam, including in corporate communications, public affairs and corporate social investment; Lerato has a strong background in Board governance and ESG matters.  

Lerato, a South African citizen, holds a BA in Psychology from the University of Johannesburg in South Africa, attended the Senior Executive Leadership Programme for Africa at Harvard University in the USA and has diplomas from the Senior Management Development Programme (University of Stellenbosch Business School) and Rural Development Programme (University of Witwatersrand).

Peter Hill, Non-Executive Chairman of Petra Diamonds commented:

"We very much appreciate the significant contribution Octavia has made to the Board during her long service, particularly on financial and audit matters and since 2019 as inaugural Chair of the Social, Ethics & Diversity Committee and since 2020 as Petra's inaugural designated workforce engagement Non-Executive Director.  When Octavia retires from the Board at the end of June 2023, she does so with our thanks and appreciation, and with all best wishes for the future.

I am delighted to welcome Lerato to the Petra Board.  Lerato has extensive executive and non-executive experience across a range of sectors, primarily in South Africa where the majority of our operations are located, including in corporate communications/public affairs, stakeholder relations, corporate social investments, policy development, black economic empowerment and governance, all of which will greatly assist in the strategic development of the Company."

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For further information, please contact:

Petra Diamonds, London                                         Telephone: +44 20 7494 8203

Patrick Pittaway                                                          [email protected]

Julia Stone

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a supplier of gem quality rough diamonds to the international market. The Company's portfolio incorporates interests in three underground mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit mine in Tanzania (Williamson).

Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base which supports the potential for long-life operations.

Petra strives to conduct all operations according to the highest ethical standards and only operates in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities.

Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL'. The Company's loan notes due in 2026 are listed on the Irish Stock Exchange and admitted to trading on the Global Exchange Market. For more information, visit www.petradiamonds.com.