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Lucara Share Capital and Voting Rights Update

Share Capital & Compensation

March 31, 2023

PRESS RELEASE

LUCARA SHARE CAPITAL AND VOTING RIGHTS UPDATE

VANCOUVER, March 31, 2023 /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 454,578,873 common shares with voting rights as at March 31, 2023.

The total number of voting rights in the Company is therefore 454,578,873. 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:

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

+44 79 772 97903 | [email protected]

ABOUT LUCARA

Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100%

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 (“Clara”), 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 t he Karowe

underground expansion project (“UGP”) adheres to the Equator Principles. Lucara is committed to

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upholding high standards while striving to deliver long -term economic benefits to Botswana and the

communities in which the Company operates.

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 above, at 2:00 PM Pacific Time on March 31, 2023.