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Lucara Reports Voting Results from Annual Meeting

Shareholder Meetings

May 12, 2023

PRESS RELEASE

LUCARA REPORTS VOTING RESULTS FROM ANNUAL MEETING

VANCOUVER, May 12, 2023 /CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm)

Lucara Diamond Corp. (“Lucara” or the “Company”) held its Annual General and Special Meeting of shareholders in

Toronto, Ontario today. Shareholders voted as follows on the matters before the meeting:

Board Members

Shareholders elected the following 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 264,352,502 97.41% 7,040,747 2.59%

David Dicaire 270,456,575 99.65% 936,674 0.35%

Marie Inkster 270,510,404 99.67% 882,845 0.33%

Adam Lundin 266,148,568 98.07% 5,244,681 1.93%

Catherine McLeod-Seltzer 264,431,695 97.43% 6,961,554 2.57%

Peter J. O’Callaghan 264,312,339 97.39% 7,080,910 2.61%

Eira Thomas 270,405,501 99.64% 987,748 0.36%

Appointment of Auditors

Shareholders re-appointed PricewaterhouseCoopers LLP as Lucara’s auditors with 95.77% of shareholders voting in

favour.

Ordinary Resolutions to Share Unit and Stock Option Plan Amendments

Shareholders passed an ordinary resolution to approve certain amendments to the Company’s share unit plan ,

including, amongst other amendments, setting the maximum number of Common Shares reserved for issuance

under the share unit plan to 17,000,000. This resolution passed with 95.81% of votes cast in favour.

Shareholders passed an ordinary resolution to approve certain amendments to the C ompany’s deferred share unit

plan, with 99.62% voting in favour.

Shareholders passed an ordinary resolution to approve the continuation of the Co mpany’s stock option plan,

including certain amendments thereto and the unallocated entitlements thereunder, and to ratify the issuanc e of

certain stock options previously granted by the Company, with 95.83% voting in favour.

Advisory Resolution on Executive Compensation

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

April 4, 2023 was approved with 97.19% of shares represented at the meeting voting in favour.

Following the meeting, Mr. Paul Conibear will continue to serve as Chairman of the Board.

On behalf of the Board,

2

Eira Thomas

President and Chief Executive Officer

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For further information, please contact:

Hannah Reynish Investor Relations & Communications

+1 604 674 0272| [email protected]

Sweden Robert Eriksson, Investor Relations & Public Relations

+46 701 112615 | [email protected]

UK Public Relations Charles Vivian / 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 and owns a 100% interest in Clara Diamond Solutions, a secure, digital sa les platform

positioned to modernize the existing diamond supply chain and ensure diamond provenance from mine to finger.

The Company has an experienced board and management team with extensive diamond development and

operations expertise. The Company op erates transparently and in accordance with international best practices in

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

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 publication, through the agency of the contact person set out above, on May 12,

2023 at 2:00pm Pacific Time.