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Lucara Share Capital and Voting Rights Update

Share Capital & Compensation

March 31, 2020

PRESS RELEASE

LUCARA SHARE CAPITAL AND VOTING RIGHTS UPDATE

VANCOUVER, March 31, 2020 /CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm)

Lucara Diamond Corp. (“Lucara” or the “Company”) reports the following in accordance with the Swedish Financial

Instruments Trading Act:

As a result of the vesting of employee share units, the number of issued and outstanding shares of the Company has

increased to 396,896,733 common shares with voting rights as at March 31, 2020.

The total number of voting rights in the Company is therefore 396,896,733. 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).

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 and 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 efficiencies, unlocking value and ensuring diamond provenance from mine to finger.

2

The information in this release is accurate at the time of distribution but may be superseded or qualified by

subsequent news releases.

This information is information that Lucara is obliged to make public pursuant to the Swedish Financial Instruments

Trading Act. The information was submitted for publication, through the agency of the contact persons set out

below, at 2:00 PM Pacific Time on 31 March 2020.