Update on Finsch Business Rescue Process

Petra Diamonds Limited

(the "Company" or "Business")

Update on Finsch Business

Rescue Process

Further to the announcement made on Friday May 29, 2026, the Company wishes to confirm that Daniel Theodorus Van Jaarsveld and Luke Bernard Saffy have been appointed as Business Rescue Practitioners for the Finsch Diamond Mine (the "

Business Rescue Practitioners

"). The Business Rescue Practitioners have taken over the custodianship of the mine and will now begin executing all the legal requirements under the Business Rescue process, including the formulation of a Finsch specific business plan that they will put forward to the creditors for voting.

Furthermore, and in agreement with the Business Rescue Practitioners, Finsch Diamond Mine has begun suspending production activities effective this week. This is an interim step pending the completion of the Finsch specific business plan by the Business Rescue Practitioners and until the way forward has been agreed between the Business Rescue Practitioners and the creditors.

As previously announced, the Company launched on 29 May 2026 a formal bond consent solicitation process to seek the consent of more than 50% of holders of the senior second lien notes to agree to certain waivers under the indenture governing the notes which will ensure that the Finsch Business Rescue and any potential non-compliance with the minimum liquidity requirement will not result in a default under the senior second lien notes, and to execute a supplemental indenture implementing the relevant waivers. On 5 June 2026, the formal bond consent solicitation was completed following the receipt of consent of more than 50% of holders of the senior second lien notes, and the supplemental indenture was executed, to implement the relevant waivers.

The Company will continue to update the market on material developments going forward.

MAR

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