Results of Rights Issue

PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE ORDINARY SHARES EXCEPT ON THE BASIS OF THE INFORMATION IN THE PROSPECTUS.

Petra Diamonds Limited

("Petra", "the Company" or "the Group")

Results of the Rights Issue

Petra Diamonds Limited announces that, as at 11:00 a.m. on 21 November 2025 (being the latest time and date for receipt of valid acceptances under the Rights Issue), it has received valid acceptances in respect of 94,466,889 ordinary shares of 0.05 pence each in the capital of the Company (the "Accepted Shares") representing approximately 82.7% of the total number of Rights Issue Shares offered pursuant to the 10 for 17 Rights Issue, announced by the Company on 17 October 2025 (the "Rights Issue").

Capitalised terms not otherwise defined in this announcement shall have the meanings given to them in the combined prospectus and circular dated 17 October 2025 published by the Company (the "Prospectus").

In accordance with the terms of the Backstop Agreement, certain Backstop Shareholders have taken up the rights under the Rights Issue of all Shareholders who did not take up their rights, such that the Rights Issue was fully underwritten.

For their services underwriting the Rights Issue, the Company will pay the Backstop Fee Shares to the Backstop Shareholders.

It is expected that dealings in Rights Issue Shares (fully paid) and the Backstop Fee Shares will commence on the Main Market of the London Stock Exchange from 8.00 a.m. today, 27 November 2025.

It is also expected that the Rights Issue Shares and the Backstop Fee Shares held in uncertificated form will be credited to CREST stock accounts as soon as practicable after 8.00 a.m. today, 27 November 2025, and that share certificates in respect of the Rights Issue Shares and the Backstop Fee Shares held in certificated form will be despatched by no later than 11 December 2025.

The Rights Issue has raised in aggregate approximately £18.8 million in gross proceeds. The Directors expect the entire net proceeds to be used for general working capital purposes, as required by the Group.

On 27 November 2025, the Company was notified of the acquisition of Ordinary Shares pursuant to the Rights Issue and the Backstop Fee, as detailed below, by certain of its Directors/persons discharging managerial responsibilities and persons closely associated with them in connection with the acquisition of new ordinary shares of 16.5 pence each in the share capital of the Company as part of the Rights Issue.

The Rights Issue forms the final equity element of the Group's refinancing. Completion of the Rights Issue allows the remaining Refinancing conditions to be completed.

Total Voting Rights

Petra Diamonds Limited announces that in accordance with its obligations under the FCA's Disclosure Guidance and Transparency Rules (the "DTRs"), as at 27 November 2025, the Company's share capital consists of 319,861,763 Ordinary Shares of 0.05 pence each in issue with voting rights, none of which are held in treasury. Therefore, the total number of voting rights in Petra is 319,861,763.

The figure of 319,861,763 may be used by shareholders as the denominator for any calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the DTRs.

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