Petra Diamonds Limited announced that Octavia Matloa, independent Non-Executive Director, will retire from the Board of Petra at the end of June 2023 having been an independent Non-Executive Director since 2014. Consequently, Octavia will also step down as the Company's designated workforce engagement Non-Executive Director, Chair of the Company's Social, Ethics & Diversity Committee and member of the Company's Audit & Risk, Remuneration, Nomination and Investment Committees, also with effect from the end of June 2023. Lerato Molebatsi has been appointed as an independent Non-Executive Director of the Company, effective 3 April 2023.

Lerato will serve on Petra's Social, Ethics & Diversity, Audit & Risk, Remuneration, Nomination and Investment Committees and with effect from 1 July 2023, will become the Company's designated workforce engagement Non-Executive Director and Chair of the Company's Social, Ethics & Diversity Committee. Lerato is currently the lead independent Non-Executive Director of the South African Reserve Bank, having been appointed in 2019. Lerato is also an independent Non-Executive Director of Spur Corporation, the restaurant franchiser listed on the Johannesburg Stock Exchange where she is alsoChair of the Social, Ethics and Environmental Sustainability Committee.

Sheis a member of the Remuneration Committee of South Africa's Financial Sector Conduct Authority; prior to this, Lerato was deputy Chair of the Adrian Group. Lerato was previously: CEO of General Electric South Africa from 2016 until 2019, having joined General Electric in 2015 as theirDirector for Government Affairs and Policy for Southern Africa; Executive Vice President, Communications and Public Affairs at Lonmin plc; Deputy Director General, Corporate Services at South Africa's Department of Labour; and Special Advisor to South Africa's Minister of Transport. She has also held senior positions at Old Mutual and Sanlam, including in corporate communications, public affairs and corporate social investment; Lerato has a strong background in Board governance and ESG matters.

Lerato, a South African citizen, holds a BA in Psychology from the University of Johannesburg in South Africa, attended the Senior Executive Leadership Programme for Africa at Harvard University in the USA and has diplomas from the Senior Management Development Programme (University of Stellenbosch Business School) and Rural Development Programme (University of Witwatersrand).