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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION . FOR IMMEDIATE RELEASE . 28 July 2026 Petra Diamonds LSE : PDL Petra Diamonds Limited ( Petra or the Company ) Q4 and FY 2026 Operating & Business Update Vivek Gadodia , Chief Executive Officer of Petra Diamonds , commented : " Against a backdrop of ongoing global geopolitical tensions , a structural change in the smaller - sized diamond price segment , and the continued strength of the Rand , Q4 FY 2026 saw a shift in production and a reassessment of our business profile to mitigate the impact of these continued headwinds . We continue our short - term shift of focus at Cullinan Mine to maximise production from the C - Cut , which yields a higher proportion of large and fancy coloured diamonds , and we anticipate this will provide some mitigation against the broader weaker market . While Q4 FY 2026 averaged US $ 77 / ct at Cullinan Mine , due to both a continuing weaker market and a poorer product mix in Q4 relative to Q3 , which included the sale of the 41.82ct exceptional blue stone , the higher value diamonds from the C - Cut over the year remain robust and achieved premium prices . This has been reflected by the increase in average price for Cullinan Mine for FY 2026 at US $ 106 per carat , up from US $ 96 per carat in FY 2025 , affirming that Cullinan Mine's unique product mix can maintain margins notwithstanding the challenging current market conditions . Going forward , we will continue the optimisation of the appropriate capital profile for the Cullinan Mine , ensuring that we continue to open additional production areas in the C - Cut . As part of our ongoing business optimisation efforts at the Cullinan Mine and the rest of the Company , the Section 189A process initiated in May 2026 remains ongoing . We anticipate the completion of the Section 189A process and the finalisation of our ongoing business and production improvement initiatives in time to inform the updated Company business plan due in September 2026 , as previously stated . Given these factors , guidance for now remains suspended . Throughout these turbulent times , safety and the wellbeing of our employees and contractors remains front and centre . We were pleased to celebrate 9 million fatality - free shifts and remain vigilant to the impact that recent business shifts have made on our employees and continue to focus on initiatives to ensure a strong " health and safety first " culture . It is with great regret that during Q4 FY 2026 , Finsch was placed into Business Rescue . Despite its strong operating performance , its large proportion of smaller goods , compounded by the strength of the Rand , made the mine untenable in these unprecedented market conditions . As announced on 10 June 2026 , operations at the Finsch mine were suspended . The Business Rescue Practitioners continue to finalise their Business Plan and have secured an extension from the Finsch creditors for the submission of their proposed Business Plan . We want to thank all employees and contractors for their continued understanding as we work through this process and will continue to provide updates as appropriate . Page 1 of 8