Petra Diamonds Regulatory News (PDL)

Petra Diamonds Limited

("Petra" or the "Company")

Appointment of Peter Hill CBE as Non-Executive Chairman

Petra Diamonds Limited announces the appointment of Peter Hill CBE as Non-Executive Director and Chairman-designate with effect from 1 January 2020, and as Non-Executive Chairman on 31 March 2020, in succession to founder and Chairman Adonis Pouroulis.

Peter, a Mining Engineer, is currently Non-Executive Chairman of the world's largest geotechnical contractor Keller Group plc, and of the leading European and Australasian building products company Volution Group plc, overseeing its IPO in 2014. He was Non-Executive Chairman of the multi-media graphics processor company Imagination Technologies during 2017, and from 2012 to late 2015 the Non-Executive Chairman of the international specialty chemicals company Alent plc. From 2002 to late 2011 Peter was Chief Executive of Laird plc, a leading global electronics and technology group employing over 10,000 people worldwide.

He has extensive Board experience, as a Non-Executive Director of Essentra plc from 2013 through 2017, Cookson Group plc from 2010 to its demerger in 2012, Meggit plc from 2004 to 2010 and Oxford Instruments from 1999 to 2004. From 2005 to 2008 he was a Non-Executive Board Member of UK Trade and Investment, now the Department for International Trade, and from 2013 to 2018 a Non-Executive Director on the Board of the Royal Air Force, chaired by the UK Secretary of State for Defence.

Peter began his career in the Gold Division of Anglo American Corporation, holding underground supervisory positions at Free State Geduld Mines in South Africa before moving to Rossing Uranium, then part of Rio Tinto, in Namibia, where he held mine planning and open pit supervisory positions. He moved to London as the Mining Engineer with the then BP Minerals, before joining Consolidated Gold Fields plc, initially as Minerals Economist then as Group Executive Operations, before becoming Group Executive Corporate Finance assisting the Chief Financial Officer during the then hostile take-over bid by Minorco SA.

Peter was an Executive Director on the Board of the international engineering and construction company Costain Group plc, and was President and CEO of Costain Coal Inc in the USA. He subsequently held senior management positions with BTR plc and Invensys plc; he has been directly involved in four UK plc takeovers, a FTSE 100 merger, a FTSE 250 demerger and an IPO.

Peter holds a BSc in Mining Engineering, and an MBA from the London Business School. He is a Chartered Engineer and a Fellow of the Institution of Materials, Minerals and Mining, and holds a South Africa Mine Manager's Certificate of Competency.

Petra's Non-Executive Chairman, Adonis Pouroulis, commented:

"We are delighted that Peter will be joining Petra Diamonds. He brings an impressive track record of Chairmanships and Board memberships across a range of global companies, industries and organisations, built on his earlier career in the mining industry including in Southern Africa, in underground and open pit operations, in planning and in project evaluation and development, in mining finance and as a CEO. I am personally delighted that someone of Peter's calibre and experience will be succeeding me as Chairman, and I wish him well."

Peter Hill commented:

"I am honoured and privileged to be appointed Chairman-designate of Petra Diamonds. I look forward greatly to working with the Board, as well as with Richard and his executive team, in taking Petra forward to the next stage of its development."

Tony Lowrie, Petra's Senior Independent Non-Executive Director, commented:

"We are very pleased with the outcome of the Nomination Committee's search for a new Chairman, which was assisted by an independent external search and leadership advisory firm, Egon Zehnder. This marks one of the most important developments in the Company's Three Year Succession Plan, which is currently in its final year and was instigated to reflect the Company's maturity from its intensive capital expansion phase to that of steady state, cash-generative operations.

"Adonis Pouroulis will now be stepping down on 31 March 2020. Having founded and listed Petra in 1997, Adonis has led the Company through an extraordinary period of growth and into one of the world's top five independent diamond producers. There have been many challenges along the way, but also opportunities that were grasped with both hands and that were instrumental in building the Group we have today. Throughout his tenure, Adonis has led with passion, resilience and tremendous energy, backed up by his love for Africa and a desire to generate value for all of Petra's stakeholders. On behalf of the Board, I would like to thank Adonis for his exceptional contribution to Petra and it has been a pleasure to work closely with him as Senior Independent Director."

There is no other information required to be disclosed pursuant to Listing Rule 9.6.13 in respect of Mr Hill.

~ Ends ~

For further information, please contact:

Petra Diamonds, London Telephone: +44 20 7494 8203

Cathy Malins

Des Kilalea

Marianna Bowes investorrelations@petradiamonds.com

Buchanan Telephone: +44 20 7466 5000

(PR Adviser)

Bobby Morse

Ariadna Peretz pdl@buchanan.uk.com

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). Petra also conducts a limited exploration programme in Botswana and South Africa.

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 of ca. 250 million carats, which supports the potential for long-life operations.

Petra conducts all operations according to the highest ethical standards and will only operate 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 the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. The Company's US$650 million loan notes due in 2022 are listed on the Global Exchange market of the Irish Stock Exchange. For more information, visit www.petradiamonds.com.