Appointment of Senior Independent Non-Executive Director

Petra Diamonds Limited

(the "Company")

Appointment of Senior Independent Non-Executive Director

The Board is pleased to announce the appointment of Piers Marsden, as the new Senior Independent Non-Executive Director of the Company with immediate effect.

Piers is a Chartered Accountant with over 20 years' experience in turnarounds and capital restructurings, predominantly in the mining and resources sectors. He has served as an independent director, a shareholder-nominated director and as Chief Restructuring Officer in various companies, including listed companies on JSE. He has worked in various Executive roles in the past, while he currently serves as a Founding Director of Matuson & Associates, which is a boutique consulting firm specialising in restructuring & turnarounds.

The Board welcomes Piers Marsden and looks forward to his contribution in helping the Board navigate this challenging period for the Company.

Change to Board Sub-Committees

As a result of Lerato Molebatsi taking over as Interim Chair, and the appointment of Piers Marsden, the following changes have also been implemented to the Board's sub-committees:

Senior Independent Non-Executive Director: with immediate effect, Piers Marsden takes over this role from Lerato Molebatsi. Piers also joins all the Board sub-committees as a member.

Remuneration and Nomination Committee: the two committees will now be consolidated into one with Lerato Molebatsi being appointed as Chair, immediately.