27 February 2023
 		LSE: PDL

Petra Diamonds Limited
(“Petra”) or the (“Company”)

Correction to H2 FY 2023e operating cost guidance

Petra announces that its updated cost guidance, issued on 21 February 2023, overstated H2 FY 2023e operating costs which should be reduced to US$120 – 135m. A corrected version may be found in the Analyst guidance section of the Company’s website at: https://www.petradiamonds.com/investors/analysts/analyst-guidance/ 

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For further information, please contact:

Petra Diamonds, London                  Telephone: +44 20 7494 8203

Patrick Pittaway                                  investorrelations@petradiamonds.com         

Julia Stone

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a supplier of gem quality rough diamonds to the international market. The Group’s portfolio incorporates interests in three underground mines in South Africa (Cullinan Mine, Finsch and Koffiefontein) and one open pit mine in Tanzania (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 Group 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'. The Group’s loan notes due in 2026 are listed on the Irish Stock Exchange and admitted to trading on the Global Exchange Market. For more information, visit www.petradiamonds.com.