Proposed Refinancing Update

Petra Diamonds Limited

("Petra", "PDL" or the "Company" or, in conjunction with its subsidiaries, the "Group")

Proposed Refinancing Update

On 8 August 2025, Petra announced the terms of a proposed refinancing of the Group that had been agreed with certain key financial stakeholders (the "Refinancing Announcement"). On 29 August 2025, Petra announced an update on the status of the Refinancing (the "Update Announcement").

Commitment letter with Senior Secured Bank Lender update

On 10 September 2025, a short extension was agreed to the deadline for the entry of the Company into a commitment letter with the Senior Secured Bank Lender, in accordance with the terms of the Lock-Up Agreement. Following this extension, the Company shall enter into a commitment letter with the Senior Secured Bank Lender by 24 September 2025 (or such later date agreed in accordance with the terms of the Lock-Up Agreement).

The Company remains confident of entering into a commitment letter with the Senior Secured Bank Lender and does not expect this extension to affect either the timeline for the publication of a prospectus and shareholder circular in respect of the Rights Issue or the completion of the Refinancing, which are both still expected to occur in Q4 CY2025.

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