Director Share Awards

12 January 2022

LSE: PDL

Petra Diamonds Limited

("Petra" or the "Company")

Director Share Awards

Petra Diamonds Limited announces that the Executive Directors of the Company have been granted deferred awards over ordinary shares in the Company under the annual performance bonus plan.

The deferred share awards, representing 25% of the total annual performance bonus for the financial year ended 30 June 2021, are as follows:

Director	Position	Value of deferred bonus	60 day Volume Weighted Average Price (VWAP)1	Deferred shares awarded – after share consolidation2,3,9
Richard Duffy	Chief Executive	£97,666	86.5p	112,747
Jacques Breytenbach	Finance Director	£69,852	86.5p	80,638

The Company also announces the grant of performance based share awards under the Company’s 2012 Performance Share Plan (“2012 PSP”) over ordinary shares in the Company.

The FY2021 PSP awards were initially postponed given the uncertainty associated with the Restructuring which completed in March 2021 and then further postponed as a result of the Company having inside information which prevented it from making share awards. Therefore, awards have been granted in respect of both FY2021 and FY2022. The awards made are as follows, with full vesting of the maximum award requiring performance conditions to be met in full:

Director	Position	FY 2021 PSP award2,4,9	FY 2022 PSP award2,5,9
Richard Duffy	Chief Executive	638,196	753,255
Jacques Breytenbach	Finance Director	456,444	502,170

Notes:

1.  The 60 day VWAP for deferred share awards was 1.73p, as calculated at the date of the Remuneration Committee meeting when the FY 2021 bonuses for Executive Directors were approved.  As a result of the share consolidation which became effective on 29 November 2021 this has been multiplied by 50 to result in 86.5p.

2.  All awards under the annual performance bonus plan and 2012 PSP are granted as conditional awards over ordinary shares in Petra of 0.001 pence each.

3.  The awards under the annual performance bonus plan are deferred for two years; these awards may be settled using existing shares purchased in the market or in cash at the Company's discretion.

4.  The FY2021 awards under the 2012 PSP are subject to performance conditions based on (i) one-third linked to absolute total shareholder return (with reference to 60-day VWAP of 1.75 pence at the effective date of Restructuring); (ii) one-third linked to operational free cashflow and net debt to EBITDA ratio and (iii) one-third linked to cashflow generation and resultant net debt profile measured over the three years FY 2021 to FY 2023. The awards are capped at 400% of annual salary.

5.  The FY2022 awards under the 2012 PSP are subject to performance conditions based on (i) one-third linked to absolute total shareholder return (with reference to 60-day VWAP at date of final award); (ii) one-third linked to operational free cashflow and net debt to EBITDA ratio and (iii) and one-third linked to cashflow generation and resultant net debt profile measured over the three years FY2022 to FY2024.

6.  Further details regarding the share awards are set out within the Directors' Remuneration Report within the Company's 2021 Annual Report.

7.  No consideration was payable for the grant of the awards.

8.  The grant of these awards does not affect Petra's Total Voting Rights.

9.  The number of awards have been adjusted in the same ratio as the share consolidation of one new share for every 50 existing shares in issue as voted on at the Company’s AGM on 19 November 2021 and which became effective on 29 November 2021.

 This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation.

	Details of the person discharging managerial responsibilities / person closely associated
	Name	Richard Duffy
	Reason for the notification
	Position/status	Chief Executive
	Initial notification/Amendment	Initial Notification
	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
	Name	Petra Diamonds Limited
	LEI	213800X4QZIAVSA12860
	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
	Description of the Financial instrument, type of instrument Identification code	Ordinary shares of 0.05p per share par value BMG702782084
	Nature of the transaction	Award of deferred shares
	Price(s) and volume(s)	Price(s) Volume(s) Nil 112,747
	Aggregated information	112,747 Nil
	Date of the transaction	12 January 2022
	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Richard Duffy
2.	Reason for the notification
a.	Position/status	Chief Executive
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Petra Diamonds Limited
b.	LEI	213800X4QZIAVSA12860
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Ordinary shares of 0.05p per share par value BMG702782084
b.	Nature of the transaction	Grant of performance based share awards
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 638,196 Nil 753,255
d.	Aggregated information	1,391,451 Nil
e.	Date of the transaction	12 January 2022
	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Jacques Breytenbach
2.	Reason for the notification
a.	Position/status	Finance Director
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Petra Diamonds Limited
b.	LEI	213800X4QZIAVSA12860
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Ordinary shares of 0.05p per share par value BMG702782084
b.	Nature of the transaction	Award of deferred shares
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 80,638
d.	Aggregated information	80,638 Nil
e.	Date of the transaction	12 January 2022
f.	Place of the transaction	London Stock Exchange, Main Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Jacques Breytenbach
2.	Reason for the notification
a.	Position/status	Finance Director
b.	Initial notification/Amendment	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Petra Diamonds Limited
b.	LEI	213800X4QZIAVSA12860
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the Financial instrument, type of instrument Identification code	Ordinary shares of 0.05p per share par value BMG702782084
b.	Nature of the transaction	Grant of performance based share awards
c.	Price(s) and volume(s)	Price(s) Volume(s) Nil 456,444 Nil 502,170
d.	Aggregated information	958,614 Nil
e.	Date of the transaction	12 January 2022

~ Ends ~

For further information, please contact:

Petra Diamonds, London  Telephone: [phone]

Cathy Malins

Des Kilalea 

Julia Stone      [e-mail]

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 producing 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 of ca. 230 million carats, 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 US$336.7 million 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.