De Beers Production Report for the Fourth Quarter of 2023

8 February 2024

Rough diamond production decreased by 3% to 7.9 million carats, primarily due to the planned reduction in South Africa as Venetia transitions to underground operations, partly offset by higher production from Botswana.

In Botswana, production increased by 6% to 6.1 million carats, principally driven by increased plant throughput at Orapa due to planned lower maintenance.

Production in Namibia decreased by 4% to 0.6 million carats, due to marginally lower grades at the land operations.

In South Africa, production decreased by 54% to 0.4 million carats, due to the planned end of Venetia's open pit operations in December 2022. Venetia will continue to process lower grade surface stockpiles as the underground operations ramp-up production over the next few years.

Production in Canada decreased by 3% to 0.8 million carats, due to planned treatment of lower grade ore.