Election of PICE Payment for FY 2026

Petra Diamonds Limited

("Petra", or the "Company")

Election of PICE Payment for FY 2026

Petra wishes to confirm that following the Refinancing becoming effective, as announced on 28 November 2025, the Board has approved to settle the payment of amounts due to bondholders under the December 2025 coupon (in part) and the June 2026 coupon (in full) via the issuance of new shares in the Company.

As per the terms of the Refinancing, the December 2025 coupon will be paid partially in cash and partially in shares, as follows:

• US$2.38 million will be paid in cash as per the terms of the previous Notes (@9.75% interest accrued up to but excluding 8 August 2025);
• US$10.45 million of coupon (at a rate of 11.5% from 8 August 2025) to be paid in shares at a price of 50p per share. A total of 15,559,031 shares will be issued to settle the interest amount of US$10.45 million. The exchange rate applied for the conversion was 1GBP = 1.324USD;
• The additional 15,559,031 shares will be issued by the Company to the bondholders on 31 December 2025, and will be admitted for trading on the same date. Following the payment of the December 2025 coupon, the new number of shares in issue will be 335,420,793.

The June 2026 coupon (c.US$13.0 million @ 11.5% per annum interest) for the Notes will also be settled in full by issuing of shares at a price of 50p per share. The exact number of shares to be issued by the Company will be announced in June 2026, once the applied exchange rate has been finalised.

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