Directorate Change

31 March 2020

LSE: PDL

Petra Diamonds Limited

(“Petra”, “the Company” or “the Group”)

Directorate Change

Petra Diamonds Limited announces that Mr Peter Hill has today assumed the role of Non-Executive Chairman, in succession to founder Adonis Pouroulis, who has stepped down from the Board.

As previously announced in the Company’s Interim Results on 17 February 2020, the additional Board changes will also take place this calendar year:

• Ms Varda Shine, Independent Non-Executive Director, has today assumed the role of Chair of the Remuneration Committee, in succession to Gordon Hamilton.

• Dr Pat Bartlett, Independent Non-Executive Director, will retire from the Board after nearly nine years’ service on 30 June 2020.

• Mr Tony Lowrie, Senior Independent Director, will retire from the Board following the Annual General Meeting (“AGM”) in November 2020, after more than eight years’ service, and thus will not be offering himself for re-election at the AGM.

An announcement regarding the appointment of a new Senior Independent Director will be made in due course.

For further information, please contact:

Petra Diamonds, London	Telephone: [phone]
Cathy Malins	[e-mail]
Marianna Bowes
Des Kilalea

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). Petra also conducts a limited exploration programme in Botswana and South Africa.

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 of ca. 250 million carats, which supports the potential for long-life operations.

Petra conducts all operations according to the highest ethical standards and will only operate 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' and is a constituent of the FTSE4Good Index. The Company’s US$650 million loan notes due in 2022 are listed on the Global Exchange market of the Irish Stock Exchange. For more information, visit www.petradiamonds.com.