AGM & Analyst Presentation

17 December 2009

Important Notice

These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation forany offer to buy or subscribe for any securities in the Company nor shall they or any part of them form the basis of or be reliedupon in any manner or for any purpose whatsoever.

These Presentation Materials must not be used or relied upon for the purpose of making any investment decision or engaging inan investment activity and any decision in connection with a purchase of shares in the Company must be made solely on thebasis of the publicly available information. Accordingly, neither the Company nor its directors makes any representation orwarranty in respect of the contents of the Presentation Materialswarranty in respect of the contents of the Presentation Materials.

The information contained in the Presentation Materials is subject to amendment, revision and updating in any way without noticeor liability to any party. The presentation materials contain forward-looking statements which involve risk and uncertainties andactual results and developments may differ materially from those expressed or implied by these statements depending on aactual results and developments may differ materially from those expressed or implied by these statements depending on avariety of factors. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of theinformation or opinions contained herein, which have not been independently verified.

The delivery of these Presentation Materials shall not at any time or in any circumstance create any implication that there hasbeen no adverse change, or any event reasonably likely to involve any adverse change, in the condition (financial or otherwise) ofthe Company since the date of these Presentation Materials.

The Presentation Materials are confidential and being supplied to you for your own information and may not be reproduced,f rther distrib ted passed on or the contents other ise di lged directl or indirectl to an other person (e cept the recipient’sfurther distributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (except the recipient’sprofessional advisers) or published, in whole or in part, for any purpose whatsoever. The Presentation Materials may not be usedfor the purpose of an offer or solicitation to subscribe for securities by anyone in any jurisdiction.

2

Petra Diamonds – Investment Case

• An important producer of rough diamonds, with one of the world’s largest diamondresources (262 million carats gross / 119 million carats attrib ) - (195 million caratsresources (262 million carats gross / 119 million carats attrib.) (195 million caratsattrib. post exercise of Cullinan option)

• The only significant diamond producer to offer substantial production growth:The only significant diamond producer to offer substantial production growth:

• Increased from 175,000 carats in 2006 to 1 million carats for 2009

Set to increase from 1 million carats to over 3 million carats per annum (“ctpa”)• Set to increase from 1 million carats to over 3 million carats per annum (“ctpa”)

• Diversified portfolio – 6 producing mines with 1 more to come on-stream imminently

• Experienced management and operations team with proven track record

• Diamond market fundamentals expected to result in strong diamond prices• Diamond market fundamentals expected to result in strong diamond prices

Successful placing raised US$120m to acquire further 37% of Cullinan, expand production strengthen balance sheet

3

expand production, strengthen balance sheet

Petra to capitalise on the anticipated major diamond supply deficit

Diamond Market Overview

• Diamond supply is in decline - most important diamond mines are past their production peak

• No new major discoveries for many years - no new major sources of production to come

• Prices achieved at Petra’s tenders have risen substantially since market lows of early ‘09

• Long term price recovery firmly in place - some volatility may occur

• Strong demand drivers going forward, particularly from emerging markets

Falling supply Rising demandGlobal Production (MM ct)

180

200

80

100

120

140

160

MM

ct

0

20

40

60

80

2 2160m carats down to

Petra: A Unique Growth Story

Majors:

Anglos / Private Diversified Diversified State-ownedAnglos / Private Diversified Diversified State owned

Pure diamond equities with significant production:

Diamond ProducerDiamond Producer & Diamond Producer

Diversified production portfolio

All assets in expansion phase

S b t ti l d ti d

Diamond Producer & Retail Stores

Diamond Producer

Substantial production and earnings growth to be delivered

5

Production Portfolio

Williamson

Production

South Africa • Cullinan

• Koffiefontein

• Kimberley Underground*

• Fissures

• Helam

• Sedibeng

• StarGeographically focused portfolio in stable and low-risk countries

6Tanzania • Williamson* Acquisition to complete imminently

in stable and low risk countries

Mines + Assets + Infrastructure

Petra has acquired four of the world’s important diamond mines

July 2007 July 2008 November 2008 Completion due soon

CullinanKoffiefontein Williamson Kimberley UG

July 2007 July 2008 November 2008 Completion due soon

7

The Petra Advantage

• Substantially improving mine performance by:• Treating each mine as a core assetg• Driving down operating costs to one of the lowest in the industry• Improving efficiencies & right-sizing operations

E i ti l t• Empowering operational teams

• Generating ROI through cost effective capital expenditureg g p p• Cost effective capital expansions through application of in-house skills

• Maximising revenues and profitability through:• Optimising diamond recovery across the spectrum, especially large and

‘specials’• Selling production via open tender system, achieving best market prices

8

Iconic Mines – Writing The History Of Diamonds

The Golden Jubilee755 carats rough,

546 polishedCullinan mine

The Taylor Burton241 carats rough,

69 polished

The Cullinan3,106 carats rough

Largest gem diamond ever discoveredCullinan mine

The Oppenheimer 253.7 carats rough

Perfect yellow diamondDutoitspan Mine, Kimberley U/G

Cullinan mineCullinan mine

The Centenary599 carats rough,

The Blue Heart31 carats polished

The Greater Star of AfricaLargest polished yield from the

The Williamson Pink55 carats rough, 24 carats599 carats rough,

274 polishedCullinan mine

31 carats polishedCullinan mine

9

Largest polished yield from the Cullinan at 530 carats

Sits in the Royal SceptreCullinan mine

55 carats rough, 24 carats polished; gifted to Princess

Elizabeth on her engagementWilliamson mine

Petra Gems – Delivering Earnings Upside

• Petra’s mines regularly produce ‘specials’, providing substantial upside on forecast revenue

• Cullinan • 39 carat rough blue diamond – sold for US$8.8m

• 26 carat rough blue diamond – cut and polished to 726 carat rough blue diamond cut and polished to 7 carats (pictured) – sold for US$9.4m

• 507 carat white diamond (pictured) – Petra considering optimum route to market

• 168 carat white diamond (sold for US$6.3m) 58 and 53 carat white diamonds (sold for US$2.8m)

• Koffiefontein

The 507 carat white diamond recovered at Cullinan in September 2009 –considered to be one of the top 20 high quality white diamonds ever found

• 34 carat diamond sold for US$1.0m

• Williamson • 47 carat diamond sold for US$0.6m

• Fissures • 126.7 carat diamond sold for US$5.3m

10

$

The ‘Star of Josephine’ – a 7.03 carat, fancy vivid blue, internally flawless diamond from Cullinan; sold for US$1.35m per carat at auction in May 2009

Cullinan

Ownership 37% Petra / 37% Al Rajhi / 26% BEE partners (PDCC) – option to take Petra ownership to 74%

Mining type Block cave miningg type oc ca e g

Production*

FY 09: 1.99 mt (888,595 carats)FY 10: 2.2 mt (957,000 carats)substantial growth to 4 mt (2.2 mcts), plus 4 mt g ( ) ptailings (0.4 mcts) by 2019

ROM value* US$95 per caratOn-mine cost per tonne* R160 (US$20) per ROM tonneOn mine cost per tonne R160 (US$20) per ROM tonneMine life +50 years (+21 years current mine plan)

• Source of world’s largest gem diamond ever – 3 106 carats

• Acquired by PDCC July 2008 for US$125m (R1bn)• Profitable first year of production despite diamond downturn• Cost per ROM tonne reduced from R220 to R170

ever 3,106 carats• Produced over 300

diamonds of over 100 carats and a quarter of all

• Further upside - Large Diamond Recovery Plant on stream end 09• Option for Petra to increase its stake to 74% (from Al Rajhi)• Tailings treatment facility to handle 1mtpa (100,000 ctpa) by 2012,

diamonds over 400 carats

• Only reliable source of highly prized, rare bl di d

11

increasing to 4mtpa (400,000 ctpa) by 2014blue diamonds

* Company forecasts

Cullinan Expansion

Accessing C-Cut / Tailings production

• 133m carat C-Cut resource, ROM grade 55cpht55cpht

• C-cut production 4 mtpa (2.2m ctpa) from 2019

• Phase 1 – 2019 to 2030

• Tailings – 17m carat gresource (165mt), grade 10cpht

• Tailings production 4 mtpa• Tailings production 4 mtpa (0.4 mct pa) from 2014

* Company forecast

12Takes gross production to 2.6m ctpa & revenue in excess of US$220 million*

KoffiefonteinOwnership 70% Petra / 30% BEE partnersMining type Front cave mining

FY 09: 0.9 mt (52,089 carats)Production*

FY 09: 0.9 mt (52,089 carats)FY 10: 1.0 mt (76,000 carats) expectedgrowth to 1.2 mt (104,000 ctpa) by 2017

ROM value* US$480 per carat$ pOn-mine cost per tonne* R123 (US$15) per ROM tonneMine life +21 years

I ROM t f• Increase ROM tonnes from 1mtpa to 1.2mtpa (104,000 ctpa)

• ROM grade to increase from

• One of the world’s top kimberlite mines by average value per • ROM grade to increase from

6.6cpht to 8.7cpht

• 400,000 tpa tailings production (1 4mct / 65mt

average value per carat

• Renowned for high value white diamonds and a regular producer production (1.4mct / 65mt

resource) – 10,000 ctpa

• Ebenhaezer pipe offers further upside

of coveted pink diamonds

* Company forecasts

13

further upside

Takes gross production to 114,000 ctpa & revenue in excess of US$50 million*

Company forecasts

WilliamsonOwnership 75% Petra / 25% Government of TanzaniaMining type Open pit miningFY09 bulk sampling 1 5mt delivering 84 486 carats (5 7cpht)FY09 bulk sampling 1.5mt delivering 84,486 carats (5.7cpht)

Production post upgrade* 10 mtpa / 600,000 ctpaROM value* US$200 per caratOn-mine cost per tonne* US$7.30 per ROM tonneMine life +20 years

• 3 year expansion programme reshaping open pit installing autogenous• 3 year expansion programme - reshaping open pit, installing autogenous mill and constructing new plant

• New plant will treat increased tonnages and improve diamond recoveriesCapex required US$45 $50m

• Renowned for high value and pink diamonds

• Capex required US$45-$50m• 146 hectare (360

acre) orebody, continuously mined for 70 years

• Nov ‘08 – majority stake in Williamson acquired for U$10m

* C f t

14Takes gross production to 600,000 ctpa & revenue in excess of US$120 million*

* Company forecasts

Kimberley Underground – Completion Expected Soon

Ownership 74% Petra / 26% BEE Partners

Mining type Block cave mining

Forecast production* 1mtpa (180,000 carats) from year twoROM value* US$170 – US$200 per caratOn-mine cost per tonne* R100 (US$12) per ROM tonneOn-mine cost per tonne R100 (US$12) per ROM tonneMine life +12 years

• Acquisition consideration of US$2.0m (R15m) cash, due to complete soon• Asset comprises Bultfontein, Dutoitspan and Wesselton mines• Care and maintenance period enabled Petra to build up a substantial • Potential for large and fancy yellow diamonds

stockpile of ore – 400,000 tonnes containing in excess of 70,000 carats• Diamond recoveries will commence on completion as new plant already

commissioned

fancy yellow diamonds• Produced the

Kimberley Octahedral – at 616ct currently the largest uncut diamond

• Considerable upside to expand life of mine g

in the world

* Company forecasts

15Brings new gross production of 180,000 ctpa & revenue in excess of US$32 million*

Path To Over 3 Million Carats

4,000,000

Petra Diamond Production Profile (gross)

3,500,000

Fissures

Kimberley

Koffiefontein

2,500,000

3,000,000

ced

Williamson

Cullinan

1,500,000

2,000,000

Car

ats

Prod

u

1,000,000

, ,

0

500,000

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

16

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Financial Year

Tender Results - Update

Diamond prices (US$ per carat)

Hi t i l FY2009 FY2010 L t t t dHistoricalaverage

FY2009 FY2010(up to Nov ‘09)

Latest tender

Cullinan 92¹ 66 74 125³

Koffiefontein 484² 252 378 7964

Williamson n/a 126 140 176

Fissures 210² 186 150 1605

Notes:

Fissures 210² 186 150 1605

1. 6 months to December 20082. Average FY 20083. Includes US$2.8m for 58 and 53 carat diamonds (but does not include the sale of the 168 carat

diamond for US$6 3m); US$90 per carat without these stones

17

diamond for US$6.3m); US$90 per carat without these stones 4. Includes US$1m for a 34 carat stone; US$494 per carat without this stone5. Due to mix of fissure production

Cullinan Pre and Post Option ExerciseStructure Pre Option Structure Post Option (exercisable by 18 Dec 2009)

• US$80m loan (originally US$95m) from Al Rajhi to CIHL (Cullinan JV vehicle), 8% interest, repayable Dec 2011. On repayment of loan, Petra interest to increase from 37% to 44%

• Consideration: issue to Al Rajhi of 36m shares (agreed value for option of 80p per share) on option exercise and US$35m deferred cash payment (payable Dec 2011),

• US$100m option fee payable by Petra to Al Rajhi to increase Cullinan interest from 44% to 60% (14% interest in Cullinan remained with Al Rajhi - purchase by Petra to 74% by separate negotiation)

(p y )

• Petra assumes US$80m Cullinan loan repayable to Al Rajhi; loan reduces on option exercise by US$30m (US$15m cash and US$15m in shares (11.4m at 80p))

• Balance of US$50m Cullinan loan repayable US$35m Dec 2010 and• CIHL loan to CDM of R830m (US$104m), to be repaid from CDM

cash flow – cashflows ring-fenced for Al Rajhi loan

• CIHL loan to BEE partners of R290m (US$36m), to be repaid from CDM cash flow

• Balance of US$50m Cullinan loan repayable US$35m Dec 2010 and US$15m Dec 2011, 8% interest

• Loan to CDM of R830m (US$104m) and loan to BEE of R290m (US$36m) to be repaid to PDL from CDM cash flow – cashflows now flow to PDL (no “cash trap”)

PDL37% effective interest in CDM

Al Rajhi37% effective interest in CDM

9% holding in PDL (pre Placing) US$80m loan due from CIHL

50% 50% Al Rajhi18.1% holding in PDL (post Placing and

• Convertible Loan Note (US$20.5m) to be repaid on option exercise

CIHL (JV vehicle) BEER290m (US$36m) loan due to CIHL BEEPDL

g (p goption)

US$50m loan due from PDL

C lli (CDM)

74% 26%

Cullinan (CDM)

74% 26%R290m (US$36m) loan due to PDL

PDL

18

Cullinan (CDM)R830m (US$104m) loan due to CIHL

Cullinan (CDM)R830m (US$104m) loan due to PDL

Cullinan Option – Consolidated Ownership

• Increase Cullinan attributable resources: from75.7mct to 151.4mct 74%

60%70%80%

ip (%

)

Cullinan Ownership

• Increase Cullinan attributable production:¹ from>320,000ct to >650,000ct

• Continuing Al Rajhi support: NED to be appointed to

37%

0%10%20%30%40%50%60%

Pre option Post option exercise

Cul

linan

Ow

ners

hi 50%

g j ppPetra Board

• Benefits:

Si lifi P t hi t t f C lli

Pre-option Post-option exercise

151.4

120140160

ces

(Mct

s)

Attributable Resources

• Simplifies Petra ownership structure of Cullinan

• Gives Petra access to Cullinan cash flows

• Cullinan consolidated into Petra’s financial

75.7

020406080

100

Pre-option Post-option exercise

Attr

ibut

able

Res

ourc 50%

Cullinan consolidated into Petra s financial statements

• Removes convertible overhang

p p

$80

$50

$75

$100

t (U

S$M

)

37.5%

Cullinan Debt

• Improves balance sheet$50

$0

$25

$50

Pre-option Post-option exercise

Cul

linan

Deb

t

19

74% of Cullinan, increased cash flows and strengthened balance sheetNote 1: Based on Cullinan 2009 production of 888,595 carats

US$120m (£72.7m) Placing

Objectives: to increase ownership in Cullinan from 37% to 74%, deliver growth by expandingproduction and strengthen balance sheet

• Completion of US$120m Placing (net ~US$114m) 3 December 2009

• First tranche shares started trading on AIM 4 December 2009

S d t h h t t t di AIM 18 D b 2009• Second tranche shares start trading on AIM 18 December 2009

Use of proceeds US$mP t ttl t f US$80 Al R jhi / C lli l i l dPart settlement of US$80m Al Rajhi / Cullinan loan, incl. accruedinterest (US$15m cash + US$9.6m interest) 24.6Repayment of Convertible Note to Al Rajhi 20.5New funds required for increased Cullinan ownership 45 1New funds required for increased Cullinan ownership 45.1

Development capital for Cullinan 15Expansion capital for Williamson 15Expansion capital for Williamson 15Short term debt 38.9Subtotal 68.9

Total 114

20

Total 114

Strengthening the Balance Sheet

• Placing strengthens the balance sheet by reducing debt

• Broadens Petra’s shareholder register to increase liquidity

GROUP CASH New funds

Group cash and debt:

(US$m) Pre raising net of costs Post raising

Cash 5.0 30.0 35.0*

GROUP DEBT(US$m)

Pre raising Petra attrib. (50%)

New funds net of costs

Post raisingPetra attrib. (100%)

Al Rajhi convertible note (incl. interest) 20.5 20.5 0

Al Rajhi Cullinan loan US$89.6m (incl. interest)** 44.8** 24.6** 50.0**

Deferred consideration (Cullinan option), due Dec 2011 - - 35.0

Other various Group debt 62.7 38.9 23.8

BEE loans due to Petra (R260m) - - (36)

Total 128 0 84 0 72 8Total 128.0 84.0 72.8

21* Pro forma cash figure calculated as pre-raising cash plus net new funds: does not account for trading results in Placing period** Current Cullinan ownership, Petra consolidates 50% of Al Rajhi debt; post Cullinan restructure Petra will consolidate 100% Al Rajhi debt

Capital Structure

Current Post raising &Cullinan OptionSaad Investments Company Limited 44.0% 23.0%

Al Rajhi Holdings W.W.L. 9.0% 18.1%

JP Morgan Asset Management UK Limited 9 6% 9 3%JP Morgan Asset Management UK Limited 9.6% 9.3%

Scottish Widows Investment Partnership 0.0% 6.2%

Capital Group International, Inc. 0.0% 6.2%

Directors 8.5% 4.7%

Shares in issue 184.0 million 352.6 million

Market capitalisation (as at 16 December 09) £126 million £206 million

Estimated Free Float 47.4% 54.2%

Saad• Saad’s assets have been frozen while the Saad group is undergoing a restructuring• Petra and its advisers are in regular dialogue with the administrators• Administrators have advised that 78m Petra shares is not ‘loose’ stock - not an active overhang

22

Conclusion

• Track record: Petra’s operational success is proven on each major asset

• Major assets & resources: high quality gem diamond output

• Upside: increased liquidity, strengthened balance sheet & capital structure

• Growth story: uniquely expanding production in a rising diamond market

• Returns: potential for high return on investment

Fund raising delivers:Increased ownership & resources – 74% of Cullinan

Increased carat production taking 1m to over 3m ctpa

23

Increased carat production – taking 1m to over 3m ctpaIncreased revenue – all mines forecast to operate at high margins

Appendix

24

The Petra Board

Adonis PouroulisChairman

Johan DippenaarCEO

David AberyFinance Director

Jim DavidsonTechnical Director

Successful mining entrepreneur One of South Africa’s most successful diamond

Extensive experience as Chief Financial Officer in South

Acknowledged world authority on kimberlite geology and

Founded Petra Diamonds in 1997 and floated first diamond company on AIM

successful diamond entrepreneurs with 20 years’ experience

Founded diamond group in

Financial Officer in South African and UK business environments

In-depth knowledge of AIM

on kimberlite geology and exploration

Over 20 years’ experience in mine management

Along with fellow directors, built Petra into pan-African diamond group with over 3500 employees

Founded diamond group in 1990 and grew portfolio to 3 producing mines before listing as Crown Diamonds on ASX

In depth knowledge of AIM

Integral to structuring and deliverance of strategic group corporate development,

mine management

Formerly Head of Diamond Exploration for Rio Tinto across Southern Africa

Instrumental in raising funds to help finance and structure early stage mining companies in Africa

Merger with Petra in 2005 –now at helm of AIM’s largest diamond company

including acquisitions and joint ventures As Technical Director of Crown

Diamonds, managed specialist underground fissure mines over a decade

2525

Africa a decade

Reserves And Resources

A ib bl b Total carat baseAttributable carat base

Fissures - 4.7

Kimberley - 6 9

Fissures - 4.5

Kimberley - 5.2Kimberley - 6.9

Koffiefontein - 5.9Koffiefontein -4.2Williamson -

Williamson - 40.1

Cullinan - 204.6

a so30.0Cullinan - 75.7

119 million carats 262 million carats

26

Diamond Market – World Consumption

Diamonds in Jewellery - 2009 Rest of world

Diamonds in Jewellery - after 2015

Italy

4%

18%

Italy

2%Hong Kong

2%

Rest of world

14%

USA

40%Hong Kong

2%

Taiwan

USA

35%Taiwan

2%

2%

India

7%

2%

Japan

India

11%

Gulf

8%China

8%

Japan

11%

Measured at Polished Wholesale Prices

Gulf

9%China

16%

9%

Measured in Polished

Wholesale Prices

Measured at Polished Wholesale Prices

Source: RBC Capital Markets and De Beers

27

Long Term Demand Outlook

• Diamond jewellery has traditionally represented only a small percentage of total jewellery sales in China/India

• Diamonds currently represent just 10-12% of total jewellery sales in these countries

Regional Focus on Diamond Jewellery

100%

Diamonds Other Jewellery

sales in these countries

• Conversely, penetration of diamond jewellery in the mature US market is 70%

• Total jewellery consumption in China and India is forecast to grow at a CAGR of around 9% (2010-2015)

70%

25%

50%

75%

a CAGR of around 9% (2010-2015)

• Growth in HNWI in recent years has been dominated by emerging economies - particularly in regions where jewellery is highly popular (Middle East and Asia Pacific)

Source: KPMG: “The global gems and jewellery industry”

12% 10%

0%

25%

China India US

Forecast Jewellery Consumption (2010 - 2015) HNWI Leisure Investment By RegionCAGR:1.7%

CAGR:8.5%

CAGR:9.2%

80

10%7%3%

8%5%8%8%

13%8% 12%11% Miscellaneous

20

40

60

US

$b

n

24% 25% 29% 24% 27%

31% 29% 19% 22% 17%

17% 17%19%

33%25%

13% 10% 17% 10%

8%Sports Investments

Other Collectibles

Jewellery

Art Collections

Source: KPMG: “The global gems and jewellery industry”Source: World Wealth Report 2008 (CapGemini/Merrill Lynch)Excludes short expenditure such as: “Wellness”, “Luxury Consumables”, “Luxury/Experiential Travel”

0

US China India

2010E 2015E

24% 25% 29% 24% 27%

Europe Latin America NorthAmerica

Asia Pacific Middle East

Luxury Collectibles

Emerging markets should provide some solid insulation from slow demand in the US and Europe28

Group Production and Sales Summary

Unit Year ended30 June 2009Year ended 30 June 2008 Change

Production

Diamonds produced (attributable) Carats 492,349 126,478 289%

Diamonds produced (gross, 100% Cullinan*) Carats 1,099,367 200,287 449%

Sales

Revenue (attributable) US$M 69.3 76.9 -10.9%

Revenue (gross 100%Revenue (gross, 100% Cullinan **) US$M 94.4 77.3 22.2%

Diamonds sold (gross, 100% Cullinan) Carats 1,011,707 230,172 339.5%)

* Net group production for IFRS reporting (adjusted to 50% Cullinan consolidated before minorities), 655,069 carats.** Net group revenue for IFRS reporting (adjusted to 50% Cullinan consolidated before minorities), US$68.7 million.*** Decrease in average value per carat due to Cullinan production coming on stream.

29

Production Ramp Up & CAPEX Profile

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Operation Area

BAW/BB1E/AUCGap Fillers

Financial Year

Cullinan

AUC SouthBAW Phase 1C‐Cut Phase 1Total Tonnes (Mt) 2.200 2.400 2.400 2.400 2.426 2.680 2.845 3.145 3.150 4.000Total Carats (Mcts) 0.957 1.117 1.239 1.314 1.520 1.649 1.801 2.018 2.133 2.600Expansion Capex (US$m) 18 0 47 6 45 4 17 7 26 6 28 1 32 9 50 3 55 3 26 6Expansion Capex (US$m) 18.0 47.6 45.4 17.7 26.6 28.1 32.9 50.3 55.3 26.6

‐ ‐ ‐ ‐ ‐ ‐ ‐  ‐ ‐ ‐ ‐ ‐ ‐ ‐ Total Tonnes (Mt) 1.231 0.000 0.000 5.000 10.000 10.000 10.000 10.000 10.000 10.000Total Carats (Mcts) 0.066 0.000 0.000 0.300 0.600 0.600 0.600 0.600 0.600 0.600Expansion Capex (US$m) 16.3 20.1 14.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0Current Operation

Williamson

Kofffiefontein pNew Block CaveTotal Tonnes (Mt) 0.948 0.948 0.948 0.948 0.948 1.000 1.100 1.200 1.200 1.200Total Carats (Mcts) 0.076 0.080 0.080 0.080 0.080 0.100 0.108 0.114 0.114 0.114Expansion Capex (US$m) 1.7 3.1 3.1 3.1 3.1 1.9 1.9 1.9 5.0 5.0Bultfontein ‐ 845 BCKimberley U/GDutoitspan ‐ 870 BCDutoitspan ‐ NW cornerWesselton ‐ 995 BCTotal Tonnes (Mt) 0.746 0.780 0.916 1.000 1.000 1.000 1.000 1.000 1.000 0.919Total Carats (Mcts) 0.065 0.217 0.223 0.200 0.181 0.181 0.181 0.181 0.181 0.163Expansion Capex (US$m) 5 1 13 1 2 6 1 3 0 0 0 0 0 0 0 0 0 0 0 0Expansion Capex (US$m) 5.1 13.1 2.6 1.3 0.0 0.0 0.0 0.0 0.0 0.0Total Tonnes (Mt) 0.247 0.266 0.276 0.284 0.291 0.304 0.304 0.304 0.304 0.304Total Carats (Mcts) 0.126 0.138 0.144 0.148 0.155 0.165 0.165 0.165 0.165 0.165Expansion Capex (US$m) 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

Petra Diamonds Total Tonnes (Mt)1 5.372 4.394 4.540 9.632 14.665 14.984 15.249 15.648 15.654 16.423

(Gross Numbers) Total Carats (Mcts)1 1.291 1.552 1.686 2.042 2.535 2.695 2.855 3.078 3.193 3.643

Fissures

30

(Gross Numbers) Total Carats (Mcts) 1.291 1.552 1.686 2.042 2.535 2.695 2.855 3.078 3.193 3.643Expansion Capex (US$m)2 41.1 84.0 65.7 22.2 29.7 30.0 34.8 52.2 60.3 31.6

1. Excludes production form tailings retreatment operations2. Expansion capital expenditure stated in 2009 money terms‐ ‐ ‐ ‐ ‐ ‐ ‐   Williamson plant and infrastructure upgrade

Cullinan – Key Objective

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+100 & +200 Carat Stones Recovered At Cullinan Diamond Mine

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31

Kimberley Underground Orebodies

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Fissures (Helam, Sedibeng, Star)

Ownership Sedibeng: Petra 74.5%/BEE 25.5%Helam & Star: Petra 100% Helam: Full shrinkage overhand stoping

Mining typeHelam: Full shrinkage overhand stopingSedibeng: Full shrinkage overhand stopingStar: Open stope underhand

FY09 production 71,274 caratsp ,ROM values* US$180 per caratOn-mine cost per tonne* R415 (US$52) per ROM tonneMi lif C bi d 20

• Strategic review completed at Helam and Star – both mines operated at lower levels of production in FY 2009

• Narrow vein, low tonnage ‘fissure’ operations

Mine life Combined +20 years

operated at lower levels of production in FY 2009• Future production planned to be in excess of 120,000 ctpa

operations• High value

kimberlite mines in comparison to world average

* Company forecasts

33Increase production from 70,000 ctpa to 120,000 ctpa*

Block Caving Schematic

34

Block Caving – Side View

VIRGIN KIMBERLITEVIRGIN KIMBERLITEPIPE

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PRODUCTIONLEVEL

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WINCH

HAULAGE 35

Petra DiamondsCathy RobertsCathy Roberts

cathyr@petradiamonds.com+44 20 7318 0452

www.petradiamonds.com