[image]

11 November 2024  LSE: PDL

Petra Diamonds Limited

("Petra" or "the Company")

Directorate Changes

Petraannounces that Varda Shine has notified the Company that she will not offer
herself for re-election at the Company's forthcoming Annual General Meeting on
13 November 2024 and will retire from the Board at the conclusion of that
meeting.

Varda Shine said:

"I am stepping down from the Board for personal reasons, having indicated last
year that I will take on the role of Chair of Petra only for a short period. It
has been an honour and a pleasure to be a Director of Petra for the past almost
six years and Chair for the last year. During my time on the Board, Petra has
had to navigate significant challenges, including the pandemic and the Company's
financial restructuring.  More latterly as Chair, the focus has been on the
Company's response to the ongoing weakness in the diamond market, with the
delivery of updated Life of Mine plans that significantly enhance Petra's
resilience to future market and capital cycles as Petra prepares itself for a
refinancing of its 2L Notes. I would like to thank my fellow Directors and the
exceptional Petra management team and wish Petra every success for the future."

The Board has appointedJosé Manuel Vargas, Non-Executive Director, as Chair of
Petra with effect from the conclusion of the Annual General Meeting. José Manuel
will also become Chair of the Investment Committee. Bernard Pryor, Senior
Independent Director and Chair of the Remuneration Committee, will become the
Chair of the Nomination Committee.

José Manuel Vargas, Chair designate of Petra, said:

"I would like to thank Varda for her service to Petra and look forward to
working with my fellow Directors to ensure a smooth transition.

Varda joined the Petra Board inJanuary 2019and became Remco Chair in April 2020,
becoming Petra's Chair in November 2023. She oversaw various changes that
resulted in a smaller and more efficient Board and has helped steer Petra
through a challenging diamond market.

On behalf of the Board and Petra, we are grateful to Varda for the significant
contributions she has made during her tenure and wish her every success in her
future endeavours."

José Manuel is Chair of MAXAM, a leading explosives manufacturer, on the board
of Fluidra S.A. and ASK Chemicals, and is a Managing Director of Rhône Capital.
José Manuel has extensive executive and board experience across various sectors.
From 2020 until January 2024, he was Chair and CEO of MAXAM and was previously
Chair and CEO of Aena SME S.A., where he led its restructuring, partial
privatisation and IPO in 2015. Before Aena, he held senior management positions
at Vocento S.A., including CFO and later CEO. He also served as CFO and General
Secretary of JOTSA and has been on the boards of several other companies,
including Vocento, Diario ABC and Wellbore Integrity Solutions LLC.  José Manuel
is a significantshareholder of Petra, currently holding c. 11.39% of the
Company's issued share capital.

Petra's Annual General Meeting will be held at09.00 (GMT) onWednesday, 13
November 2024 at One Heddon Street, London, W1B 4BD. Resolution 5, being the re
-election of Varda Shine, has been withdrawn.  At the time of this announcement,
over 99% of the votes cast were in favour of this resolution.

FURTHER INFORMATION

Petra Diamonds,London+44 (0)784 192 0021

Patrick Pittawayinvestorrelations@petradiamonds.com

Kelsey Traynor

ABOUTPETRA DIAMONDS

Petra Diamondsis a leading independent diamond mining group and a supplier of
gem quality rough diamonds to the international market. The Company's portfolio
incorporates interests in two underground mines inSouth Africa(Cullinan Mine and
Finsch) and one open pit mine inTanzania(Williamson).

Petra's strategy is to focus on value rather than volume production by
optimising recoveries from its high-quality asset base in order to maximise
their efficiency and profitability. The Group has a significant resource base
which supports the potential for long-life operations.

Petra strives to conduct all operations according to the highest ethical
standards and only operates in countries which are members of the Kimberley
Process. The Company aims to generate tangible value for each of its
stakeholders, thereby contributing to the socio-economic development of its host
countries and supporting long-term sustainable operations to the benefit of its
employees, partners and communities.

Petra is quoted with a premium listing on the Main Market of theLondon Stock
Exchangeunder the ticker 'PDL'. The Company's loan notes due in 2026 are listed
on theIrish Stock Exchangeand admitted to trading on theGlobal Exchange Market.
For more information, visitwww.petradiamonds.com.


This information was brought to you by Cision http://news.cision.com
https://news.cision.com/petra-diamonds-ltd/r/directorate-changes,c4063932
The following files are available for download:
https://news.cision.com/petra-diamonds-ltd/i/4063932-0-jpeg,c3350308 4063932_0.jpeg