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Lucara Reports Voting Results from Annual Meeting

Shareholder Meetings

May 8, 2020

PRESS RELEASE

LUCARA REPORTS VOTING RESULTS FROM ANNUAL MEETING

VANCOUVER, May 8, 2020 /CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm)

Lucara Diamond Corp. (“Lucara” or the “Company”) held its Annual General & Special meeting

of shareholders in Vancouver, British Columbia today. Shareholders voted as follows on the

matters before the meeting:

Board Members

Shareholders elected the follo wing 7 board members with shareholders represented at the

meeting voting in favour of individual directors as follows:

Director Votes For %

Votes

For

Votes

Withheld

% Votes

Withheld

Paul Conibear 147,944,235 96.10 6,008,462 3.90

David Dicaire 153,251,523 99.54 701,174 0.48

Marie Inkster 150,609,532 97.83 3,343,165 2.17

Lukas Lundin 139,099,907 90.35 14,852,790 9.65

Catherine McLeod-

Seltzer

149,177,255 96.90 4,775,442 3.10

Peter J. O’Callaghan 145,033,742 94.21 8,918,955 5.79

Eira Thomas 149,040,428 96.81 4,912,269 3.19

Appointment of Auditors

Shareholders re-appointed PricewaterhouseCoopers LLP as Lucara’s auditors with 98.46% of

shareholders voting in favour.

Share Unit Plan

Approval of certain amendments to the Corporation’s share u nit plan, and the allotment of up

to 10,000,000 shares to be issued thereunder including the ratification of 779,090 share units

granted under the share unit plan , as disclosed in Lucara’s management proxy circular dated

April 3, 2020 , were approved by Shareholders with 96.96% of shares represented at the

meeting voting in favour.

Deferred Share Unit Plan

Approval of a Deferred share unit plan, and the allotment of up to 4,000,000 shares to be

issued thereunder including the ratification of 278,000 deferred share units granted under the

DSU plan, disclosed in Lucara’s management proxy circular dated April 3, 2020, was approved

with 99.04% shares represented at the meeting voting in favour.

Advisory Resolution on Executive Compensation

Management’s approach to executive compensation, also disclosed in Lucara’s management

proxy circular dated April 3 , 2020 was approved with 97.23 % of shares represented at the

meeting voting in favour.

2

On behalf of the Board,

Eira Thomas

President and Chief Executive Officer

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For further information, please contact:

North America Christine Warner, Investor Relations & Communications

+1 604 689-7842 | [email protected]

Sweden Robert Eriksson, Investor Relations & Public Relations

+46 701 112615 | [email protected]

UK Public Relations Emily Moss / Jos Simson, Tavistock

+447788554035 | [email protected]

ABOUT LUCARA

Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from

its 100% owned Karowe Mine in Botswana. The Company has an experienced board an d

management team with extensive diamond development and operations expertise. The

Company operates transparently and in accordance with international best practices in the

areas of sustainability, health and safety, environment and community relations.

ABOUT CLARA

Clara Diamond Solutions (Clara), wholly owned by Lucara Diamond Corp, is a secure, digital

sales platform that uses proprietary analytics together with cloud and blockchain technologies

to modernize the existing diamond supply chain, driving e fficiencies, unlocking value and

ensuring diamond provenance from mine to finger.

The information in this release is accurate at the time of distribution but may be superseded or

qualified by subsequent news releases.

The information was submitted for pu blication, through the agency of the contact person set

out above, on May 8, 2020 at 2:00pm Pacific Time.