Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuerof existing shares to which voting rights are Paragon Diamonds Ltdattached:ii 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights x An acquisition or disposal of qualifying financial instruments which may resultin the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the Obtala Resources Ltdnotification obligation:iii 4. Full name of shareholder(s) (if different from 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 27/02/2015reached: v 6. Date on which issuer notified: 02/03/2015 7. Threshold(s) that is/are crossed or Holding has gone below 5%reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type of Situation Resulting situation after the triggering transactionshares previous to the triggering transactionif possibleusing Number Number Number Number of voting % of voting rights xthe ISIN CODE of of of shares rights Shares Voting Rights Direct Direct xi Indirect xii Direct Indirect Ordinary 1- 970,558 970,558 0 0 0.0% GG00B6684H4 B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration Exercise/ Number of voting % of votinginstrument date xiii Conversion Period xiv rights that may be rights acquired if the instrument is exercised/ converted. SPREADBET 13,175,000 4.78% C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xvi Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of voting rights % of votingfinancial price date xvii Conversion instrument refers to rights xix, xxinstrument period xviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 13,175,000 Below 5% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will ceaseto hold: 12. Date on which proxy holder will cease to holdvoting rights: 13. Additional information: 14. Contact name: Ilene Hardy 15. Contact telephone number: 020 7099 1940