Expanding Production In A Rising Diamond Market

25 May 2011

2

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 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 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,further 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.

Building A Leading Diamond Producer

3

Cullinan

July 2008

74% Petra14% Thembinkosi /

12% Employee Share Trust

Block Cave

Williamson

November 2008

75% Petra25% Government of United Republic of

Tanzania

Open Cast

Kimberley UG

May 2010

74% Petra26% Sedibeng Mining

Block Cave

Koffiefontein

July 2007

74% Petra26% Re-Teng

Diamonds

Front Cave

Petra’s acquisition trail since 2005 – 4 major diamond mines acquired from De Beers

The Petra approach:• Focus on efficiencies: right-size operation, restructure cost base & empower management

• Utilise in-house capabilities to execute Capex programmes

• Optimise plant processing & security to ensure recovery of full spectrum of diamonds

• Achieve best rough diamond prices through open tender system

4

• South Africa’s second largest diamond mine by production

• State-of-the-art infrastructure & modern plant

• Resource of 48 Mcts, incl. 26.6 Mcts reserves & 4.7 Mcts tailings

• Petra to operate Finsch at ~1.5Mcts pa initially, rising to ~2Mcts pa

• Potential for ‘specials’ – average of 27 stones +50 carats recovered per annum over last 4 yrs

• All material conditions for acquisition have been satisfied except for Ministerial Section 11 transfer of mining right (expected soon)

Finsch – A New Flagship Asset

Aerial view showing the world-class infrastructure at Finsch

Aim Of Expansion Programmes – Undiluted Ore

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Virgin kimberlite ore

Production level

Undercut level

Drawpoints

Loaders

Haulage

Undiluted ore

Schematic - block cave mining method

• Current mining at underground pipe mines taking place in diluted mature caves and low grade remnants

• Expansion programmes will open up fresh block caves, delivering undiluted ore in higher grade areas

• Substantial higher revenue per tonne leading to increased margins

6

Finsch Orebody

Major Underground Projects

Current Shaft Bottom580 Level

630m Level

732m Level

763m Loading Level

AUC South and BAW Phase 1

BA5

BB1E

830m Level

C‐CUT Phase 2

1073m Base of Resource

950m Shaft Bottom

Current Infrastructure

Planned Infrastructure

C‐CUT

2000metres

Current extent of South Decline

Kimberlite Footprint16 Ha @830 Level

Cullinan Orebody

Major Opencast Project

7

Williamson Orebody

Granite Breccia

RVKBoumaShale IslandBVK

PK

Geology

205m

LOM Pit Shell

Schematic showing cut-away geology and planned open pit

N1km

Exceptional Organic Growth Profile

8Future production now has potential to rise from 1+ Mcts to 5+ Mcts by FY 2019

-

150

300

450

600

750

900

0

1

2

3

4

5

6

FY 2010(Actual)

FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

GrossRevenue(US$m)

Carats (millions)

Diamond Production (cts) Revenue (US$)

23.6

8.0

2.3

2.1

0.8

5.7

Cullinan

Williamson

Koffiefontein

Kimberley

Fissures

Finsch

Petra – Investment Case

• Mid tier producer offering exceptional growthAIM: PDL (plan to move to Main Board of LSE)

• Production focused8 producing kimberlite mines in expansion mode (incl. Finsch)Minimal exposure to exploration

• Major resource309m carats gross (incl. Finsch) – largest diamond resource outside De Beers & Alrosa

• Proven track record History of delivery on operational targets & good cost control

• Growth financeDebt facilities of ~US$83m (Oct 2010)

Successful US$325m raising (Jan 2011)9

Gross Carat Base – 309.1Mcts

Gross In-Situ Value – US$42.5bn*

203.3

40.0

5.7

7.5 4.6

48.1

Cullinan

Williamson

Koffiefontein

Kimberley

Fissures

Finsch

Mcts

US$

* Resource value updated based upon actual rough diamond prices achieved in the six months to 31 December 2010 & management forecasts for Williamson and Finsch

Appendices

Capital Structure

11

High Quality Shareholder Base 20 May 11

Al Rajhi Holdings W.W.L. 13.4%

Saad Investments Company Ltd/AWAL Bank 12.2%

JP Morgan Asset Management (UK) Ltd 8.7%

Capital Group International, Inc. 7.4%

Scottish Widows Investment Partnership 6.5%

BlackRock Investment (UK) Ltd 4.2%

M&G Investments 3.6%

Global AEGON Asset Management Group 3.3%

Ignis Investment Services Limited 3.0%

Directors 2.9%

Analyst Coverage Targetprice

Numis 280p

RBC Capital Markets 265p

Canaccord Genuity 235p

BMO Capital Markets 230p

Charles Stanley Securities 226p

Panmure Gordon 185p

Listing AIM: PDLAverage daily trading volume (shares) –2011 YTD

2.1m

Shares in issue 497m

Free float 71.6%

Market cap @ 160.5p £800m

Share Price Chart

The Petra Board

1212

Adonis PouroulisChairman

Johan DippenaarCEO

David AberyFinance Director

Jim DavidsonTechnical Director

Successful mining entrepreneur

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

Along with fellow directors, built Petra into pan-African diamond group with over 3,600 employees

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

One of South Africa’s most successful diamond entrepreneurs with 20 years’ experience

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

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

Extensive experience as Chief Financial Officer in South African and UK business environments

In-depth knowledge of London capital markets

Integral to structuring and deliverance of strategic group corporate development, including acquisitions and joint ventures

Acknowledged world authority on kimberlite geology and exploration

Over 20 years’ experience in mine management

Formerly Head of Diamond Exploration for Rio Tinto across Southern Africa

As Technical Director of Crown Diamonds, managed specialist underground fissure mines over a decade

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A Diversified Production Portfolio

Production

South Africa • Cullinan

• Koffiefontein

• Kimberley Underground

• Finsch *

• Fissures

• Helam

• Sedibeng

• Star

Tanzania • Williamson* Acquisition to complete soon

Finsch

Cape Town

Western Cape

Eastern Cape

Northern Cape

South Africa

Free State

KwaZulu‐Natal

Gauteng

JohannesburgNorth West Province

Limpopo

Mpumalanga Cullinan

Star

Helam

Sedibeng

Kimberley

Koffiefontein

Durban

Williamson

Finsch – A New Flagship Asset

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• New acquisition –expected to complete soon

• Acquisition cost of R1,425m (~US$210m)

• South Africa’s 2nd

largest diamond mine by production

• State-of-the-art infrastructure & modern plant

• Petra to operate at 1.5 Mcts pa initially, rising to ~2 Mcts pa

Kimberlite Footprint @800m Level:Main pipe: 4.4haPrecursor: 1.6ha

Cullinan

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

• Produced over 300 diamonds of over 100 carats and a quarter of all diamonds over 400 carats

• Only reliable source of highly prized, rare blue diamonds

• Capex programme underway to access fresh ore block in Western side of the orebody

Current Shaft Bottom580 Level

630m Level

732m Level

763m Loading Level

AUC South and BAW Phase 1

BA5BB1E

830m Level

C‐CUT Phase 2

1073m Base of Resource

Kimberlite Footprint16 Ha @830 Level

950m Shaft Bottom

Current Infrastructure

Planned Infrastructure

C‐CUT

2000metres

Current extent of South Decline

Williamson

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• Renowned for high value and pink diamonds

• 146 hectare (360 acre) open pit, continuously mined for 70 years

• Major expansion programme underway to reshape pit , refurbish existing plant and construct new 10Mtpa plant including autogenous mill

Granite BrecciaRVKBoumaShale IslandBVKPK

Geology

205m

LOM Pit Shell

Schematic showing cut-away geology and planned open pit

N1km

Koffiefontein

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• One of the world’s top kimberlite mines by average value per carat

• Renowned for high value white diamonds and a regular producer of coveted pink diamonds

• 5 hectare orebody at 690m Level

• Expansion programme underway to access fresh blocks of ore

Kimberley Underground

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• Potential for large and fancy yellow diamonds

• Produced the Kimberley Octahedral – at 616ct currently the largest uncut diamond in the world

• Petra expects to establish new resources below the current production levels

4.5 ha @ 870m Level

0.5 ha @ 845m Level

3.5 ha @ 995m Level

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Key Economics

(1) Management medium / long-term forecasts (prices based on tender results H1 FY 2011)(2) Management medium / long-term forecasts (at 2010 money)(3) Finsch tailings production will cease end FY 2020(4) Refer to slide 21 for a detailed Capex profile

Finsch Cullinan Williamson Koffiefontein Kimberley U/G

Current production rate (Mtpa) 3.2 2.3 2.1 0.9 0.6

Expansion tonnes (Mtpa) 3.5 (FY2018)

4.0 (FY2019)

10.0 (FY2014)

1.2 (FY2017)

1.0 (FY2013)

US$ / carat (1) 135 120 200 480 285

Grade (cpht) (1) 47.0 50.0 6.0 8.7 16.7

Cash unit cost per tonne (2) R 180 R 180 US$ 7.30 R 140 R 120

Expected production rate (Mtpa) 3.3(3) 4.0 (FY2015)

- 0.5 (FY2011)

-

US$ / carat (1) 80 70 - 200 -

Grade (cpht) (1) 18.5 to 2015; then 10.3 10.0 - 2.5 -

Cash unit cost per tonne (2) R 15 R 30 - R 30 -

Expansion plan FY 2019 (4)

Carats pa* 1,960,000 2,400,000 600,000 117,000 167,000

Revenue pa* >US$240m >US$260m >US$120m >US$52m >US$47m

RO

MTa

iling

s

2.4

0.6 0.1

0.2 0.2

2.0 CullinanWilliamsonKoffiefonteinKimberleyFissure MinesFinsch

Gross Production FY 2019 (1)

5.4 Million CaratsGross Revenue FY 2019 (1)

US$761 million

(1) Management forecasts (at 2010 money)

US$mMcts

Balanced Production & Revenue

20

$267

$120 $53

$48

$34

$239

Petra Expansion Profile (incl. Finsch)

21

Thank You