Election of PICE Payment for FY 2026

FOR IMMEDIATE RELEASE

Petra Diamonds Limited

(" Petra ", or the " Company ")

Election of PICE Payment for FY 2026

Petra wishes to confirm that following the Refinancing becoming effective, as announced on 28 November 2025, the Board has approved to settle the payment of amounts due to bondholders under the December 2025 coupon (in part) and the June 2026 coupon (in full) via the issuance of new shares in the Company.

As per the terms of the Refinancing, the December 2025 coupon will be paid partially in cash and partially in shares, as follows:

- US$2.38 million will be paid in cash as per the terms of the previous Notes (@9.75% interest accrued up to but excluding 8 August 2025);

- US$10.45 million of coupon (at a rate of 11.5% from 8 August 2025) to be paid in shares at a price of 50p per share. A total of 15,559,031 shares will be issued to settle the interest amount of US$10.45 million. The exchange rate applied for the conversion was 1GBP = 1.324USD;

- The additional 15,559,031 shares will be issued by the Company to the bondholders on 31 December 2025, and will be admitted for trading on the same date. Following the payment of the December 2025 coupon, the new number of shares in issue will be 335,420,793.

The June 2026 coupon (c.US$13.0 million @ 11.5% per annum interest) for the Notes will also be settled in full by issuing of shares at a price of 50p per share. The exact number of shares to be issued by the Company will be announced in June 2026, once the applied exchange rate has been finalised.

~ Ends ~

For further information, please contact:

Petra Diamonds, London

Julia Stone

Kelsey Traynor

Telephone: +44 (0)7495470187

[email protected]

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 two underground mines in   South Africa   (Cullinan Mine and Finsch).

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's Ordinary Shares are admitted to the equity shares (commercial companies) category of the FCA's Official List and are admitted to trading on the Main Market of the   London Stock Exchange   under the ticker "PDL". The Company's loan notes, due in 2030, are listed on Euronext Dublin (Irish Stock Exchange). For more information, visit   www.petradiamonds.com .