Notification of Major Interest in Shares

Petra Diamonds Limited

("the Company")

Notification of Major Interest in Shares

Petra Diamonds Limited was notified on 28 September 2016 that following recent purchases Templeton Global Advisors Limited, a wholly owned subsidiary of Franklin Resources, Inc., now has a total holding of 15,920,470 ordinary shares in the Company, representing approximately 3.04% of the Company's issued shares and votes.

For further information, please contact:

Petra Diamonds, London Telephone: +44 20 7494 8203

Cathy Malins [email protected]

Salisha Ilyas [email protected]

Buchanan Telephone: +44 20 7466 5000

(PR Adviser)

Bobby Morse [email protected]

Anna Michniewicz [email protected]

RBC Capital Markets Telephone: +44 20 7653 4000

(Joint Broker)

Matthew Coakes [email protected]

Jonathan Hardy [email protected]

Barclays Telephone: +44 20 7623 2323

(Joint Broker)

Bertie Whitehead [email protected]

Philip Drake [email protected]

BMO Capital Markets Telephone +44 20 7236 1010

(Joint Broker)

Jeffrey Couch [email protected]

Neil Haycock [email protected]

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About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has interests in five producing operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Operations (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana.

Petra has a core objective to steadily increase annual production to ca. 5.3 million carats by FY 2019. The Group has a significant resource base in excess of 300 million carats.

Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. 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. For more information, visit the Company's website at www.petradiamonds.com.