Petra Diamonds Regulatory News (PDL)

Petra Diamonds Limited

("Petra" or the "Company")

Appointment of Non-Executive Directors

Petra Diamonds Limited announces the appointment of Mrs Varda Shine and Mr Bernard Pryor to its Board as Independent Non-Executive Directors, with effect from 1 January 2019. These appointments have been made in accordance with the Nomination Committee's three year Succession Plan which is in line with Petra's development from a phase of intensive capital expenditure and expansion to a focus on steady-state operations. In addition, the Company is further reviewing and optimising the composition of the Board, board committees and senior management structures as well as addressing improving diversity at the higher levels of the business. Further announcements to this end will be made during the course of FY 2019.

Petra's Chairman, Adonis Pouroulis, commented:

"It gives me great pleasure to welcome Varda and Bernard to the Board. Their significant experience and expertise in both the mining sector and the diamond world will be a considerable asset to our Board and we look forward to working with them. Today's announcement demonstrates the solid progress the Board has made in its Succession Plan and we expect to be in a position to make further announcements with regards to Board composition later in FY 2019."

Notes to editors:

Varda Shine

Varda Shine is a Non-Executive Director, CEO's mentor and a diamond industry Advisor. Previously, she was CEO of De Beers Trading Company where she worked with stakeholders across the supply chain (producing governments to luxury retailers) and delivered record sales and profits. She currently sits on the Boards of Lonmin Plc, the Mineral Development Company Botswana and Sarine Technologies. She is also a Governing Board member of the Diamond Empowerment Fund (DEF) and a trustee of the Teenage Cancer Trust. Mrs Shine has completed business and management courses at Templeton College, Oxford, Cranfield and INSEAD. During her thirty years of work in the diamond industry, she became the first woman to be awarded honorary lifetime membership of the Israel Diamond Exchange (IDE) and in 2011 she received the Women's Jewellery Association (WJA) Hall of Fame Lifetime Achievement Award. In 2014 Mrs Shine was made an honorary member of the London Diamond Bourse.

Bernard Pryor

Bernard Pryor is a Metallurgical Engineer with over thirty-five years' experience in the international mining industry. He has held senior executive positions across a range of disciplines including project acquisition, development and construction and has run large scale, fully operational mining assets. His experience also includes international commercial and general management, most notably in Australia, Brazil, West and Southern Africa, the Middle East and Russia. He is currently CEO of Alufer Mining and Non-Executive Chairman of MC Mining Limited. Mr Pryor was previously CEO of African Minerals Limited and Q Resources plc. Between 2006 and 2010 he held senior positions within Anglo American Plc as Head of Business Development and was CEO of Anglo Ferrous Brazil Inc. Prior to that he was COO at Adastra Minerals Inc in the DRC.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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For further information, please contact:

Petra Diamonds, London Telephone: +44 20 7494 8203

Marianna Bowes investorrelations@petradiamonds.com

Salisha Ilyas

Buchanan Telephone: +44 20 7466 5000

(PR Adviser)

Bobby Morse 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). It announced in July 2018 the proposed disposal of its interest in the Kimberley Ekapa Mining JV in South Africa. It also maintains an exploration programme in Botswana and South Africa, which is currently under review.

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. 290 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. For more information, visit www.petradiamonds.com.