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PRODUCTION REPORT FOR THE FIRST QUARTER OF 2017

Diamonds1

Q1 2017  Q1 2016 Q1 2017
vs.
Q1 2016
Q4 2016 Q1 2017
vs.
Q4 2016

Debswana

000 carats

5,191

5,328

(3)%

5,440

(5)%

Namdeb Holdings

000 carats

472

444

6%

428

10%

DBCM

000 carats

1,106

932

19%

1,387

(20)%

De Beers Canada

000 carats

631

162

290%

497

27%

Total carats recovered

000 carats

7,400

6,866

8%

7,752

(5)%

Rough diamond production increased by eight per cent to 7.4 million carats compared with Q1 2016. This reflected the contribution of Gahcho Kué in Canada, which reached commercial production on 2 March 2017, as well as increases in response to improved trading conditions.

Debswana’s (Botswana) production decreased marginally to 5.2 million carats. At Jwaneng, production decreased eight per cent due to expected lower grades, partly offset by Orapa, which increased by five per cent due to higher grades.

Production at Namdeb Holdings (Namibia) increased by six per cent to 0.5 million carats. Production at Debmarine Namibia increased by two per cent due to planned in-port maintenance of the Mafuta vessel in Q1 2016, partially offset by lower grades in Q1 2017. The SS Nujoma vessel completed the last stage of commissioning prior to pre-deployment testing in Q1 2017.

In DBCM (South Africa), production increased by 19 per cent to 1.1 million carats largely as a result of higher grades at Venetia.

Production in Canada increased by 290 per cent to 0.6 million carats due to the contribution of Gahcho Kué, which reached commercial production on 2 March 2017.

Total rough diamond sales volumes in Q1 2017 were 14.1 million carats (13.7 million carats on a consolidated basis(2)) from three Sights, compared with 8.1 million carats (7.6 million carats on a consolidated basis(2)) from two Sights in Q1 2016. Other than the additional Sight in Q1 2017, this increase reflected stronger demand in Sight 1 2017, skewed towards low value goods.

Full Year Guidance

Full year production guidance(1) remains unchanged at 31 – 33 million carats, subject to trading conditions.

(1) De Beers production is on a 100 per cent basis, except for the Gahcho Kué joint venture which is on an attributable 51 per cent basis.
(2) Consolidated sales volumes exclude De Beers’ JV partners’ 50% proportionate share of sales to entities outside the De Beers Group of Companies from the Diamond Trading Company Botswana and the Namibia Diamond Trading Company.

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