Slide 1: Lucara Diamond Q2 2026
LUCARA DIAMOND Q2 2026
Slide 2: Cautionary Note
Cautionary Note Forward-looking information: Certain statements made in this presentation, including any accompanying oral Forward-looking information and statements are based on the opinions and estimates of management as of the presentation, contain “forward-looking information” and “forward-looki
Slide 3: Q2 2026 Highlights
Q2 2026 HIGHLIGHTS All amounts are in U.S. dollars unless otherwise noted. References to “C$” are to Canadian dollars. Continued large diamond Diamond sales UGP progress recoveries • Revenue of $41.0 million (Q2 • Production shaft winders • Recovered a 1,303 carat Type IIa 2025: $43.7 million). were
Slide 4: High-Value Recoveries
HIGH-VALUE RECOVERIES • Recovered a 1,303 carat Type IIa diamond in July 2026, marking Lucara’s tenth diamond in excess of 1,000 carats since operations commenced. • Recovered 176 Specials* in Q2 2026. • A total of 90,082 carats were recovered in Q2 2026: • 83,109 carats were from direct ore feed fr
Slide 5: Financial & Operational Results
FINANCIAL & OPERATIONAL RESULTS Revenue (millions) Operating expenses (millions) Operating costs ($/ tonne) $26.76 $43.7 $15.4 $23.76 $41.0 $11.9 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Ore mined (tonnes) Ore processed (tonnes) Carats sold 721,111 761,848 77,167 661,352 58,553 392,695 Q2 202
Slide 6: Karowe UGP
KAROWE UGP • Updated feasibility study confirms total cost at completion of $779.2 million, including contingency. • As at June 30, 2026, remaining costs to complete the UGP, including contingency, were $275.9 million. Committed, not yet incurred, UGP costs were $99.8 million. • Total UGP capital ex
Slide 7: UGP Progress – Q2
UGP PROGRESS – Q2 • Production shaft auxiliary and man and material winders were licensed by the Botswana Department of Mines in July 2026. • Construction of the headframe steel took marginally longer than scheduled, leading to an approximately six-week delay. • Mitigations were undertaken to suppor
Slide 8: UGP Progress – Q2
UGP PROGRESS – Q2 Main vent fan barrels and MCC Work continued throughout Q2 2026 to convert the production shaft's temporary sinking headframe configuration to permanent production headframe Mechanical evaporator
Slide 9: UGP Progress – Q2
UGP PROGRESS – Q2 Following the licensing of the production shaft, slinging of major equipment underground occurred in preparation for the commencement of mining activities.
Slide 10: Diamond Market
DIAMOND MARKET • Global natural diamond production is expected to remain well below historical levels due to mine depletion, limited new discoveries, and industry- wide mine closures. • Natural diamond market is showing signs of a K- shaped recovery with larger, rarer and higher-value goods showing
Slide 11: 2026 Annual Guidance
2026 ANNUAL GUIDANCE 2026 Diamond Sales, Production, and Outlook 2026 full year Diamond revenue (millions) $100 to $130 Diamond sales (thousands of carats) 340 to 360 Diamonds recovered (thousands of carats) 340 to 360 Ore tonnes mined (millions) Up to 0.6 Waste tonnes mined (millions) Up to 0.2 Ore
Slide 12: Contact
Contact Suite 2800, Four Bentall Centre 1055 Dunsmuir Street PO Box 49225 Vancouver, BC V7X 1L2 Tel: +1 604 674 0272 Email: info@lucaradiamond.com LucaraDiamond.com | LUC.TSX | LUC.FNGM | LUC.BSE