Mr. William Lamb reports

LUCARA SHARE CAPITAL AND VOTING RIGHTS UPDATE

Lucara Diamond Corp. has provided an update in accordance with the Swedish Financial Instruments Trading Act.

The company issued 1.9 million common shares to its largest shareholder, Nemesia Sarl, as consideration under its debenture of $63.0-million, as described in the company's news release from Jan. 9, 2024. The number of issued and outstanding shares of the company has increased to 458,077,393 common shares with voting rights as at Jan. 31, 2024.

The total number of voting rights in the company is therefore 458,077,393. This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the company under the Swedish Financial Instruments Trading Act on disclosure of major shareholdings (Transparency Rules).

About Lucara Diamond Corp.

Lucara is a leading independent producer of large exceptional-quality Type 2a diamonds from its 100-per-cent-owned Karowe diamond mine in Botswana. The Karowe mine has been in production since 2012 and is the focus of the company's operations and development activities. Clara Diamond Solutions Limited Partnership, a wholly owned subsidiary of Lucara, has developed a secure, digital sales platform that uses proprietary analytics together with cloud and blockchain technologies to modernize the existing diamond supply chain, driving efficiencies, unlocking value and ensuring diamond provenance from mine to finger. Lucara has an experienced board and management team with extensive diamond development and operations expertise. Lucara and its subsidiaries operate transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment, and community relations. Lucara has adopted the IFC Performance Standards and the World Bank Group's Environmental, Health and Safety Guidelines for Mining (2007). Accordingly, the development of the Karowe underground expansion project adheres to the Equator Principles. Lucara is committed to upholding high standards while striving to deliver long-term economic benefits to Botswana and the communities in which the company operates.