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"). Further updates on the status of the Refinancing were announced by Petra on 29 August 2025 and 11 September 2025.

Commitment letter with Senior Secured Bank Lender update

As previously announced, the deadline for the entry by the Company into a commitment letter with the Senior Secured Bank Lender under the terms of the Lock-Up Agreement was previously extended from 10 September 2025 to 24 September 2025 (or such later date agreed in accordance with the terms of the Lock-Up Agreement).

Discussions between the Company, the Senior Secured Bank Lender and the Working Group in relation to the commitment letter have been positive and the Company remains confident that full agreement on its terms will be reached. However, a short further extension is required in order to finalise terms.

Therefore, on 24 September 2025, a further extension was agreed in accordance with the terms of the Lock-Up Agreement. The revised deadline for entering into a commitment letter with the Senior Secured Bank Lender is 29 September 2025 or such other date as may be agreed in accordance with the terms of the Lock-Up Agreement.

The Company does not expect this additional 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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