When a transmuter uses his Master Transmutation/Restore Life feature, does he have to supply the material component of raise dead too?

Question

A 14th level transmuter wizard has this feature:

Master Transmutation

Starting at 14th level, you can use your action to consume the reserve of transmutation magic stored within your transmuter’s stone in a single burst. When you do so, choose one of the following effects. Your transmuter’s stone is destroyed and can’t be remade until you finish a long rest.

(...)

• Restore Life. You cast the raise dead spell on a creature you touch with the transmuter’s stone, without expending a spell slot or needing to have the spell in your spellbook.

Raise dead (the cleric/paladin spell) has a costly material component:

A diamond worth 500gp

Does the wizard need the diamond to use his class feature?

Answer 1

As stated by Jeremy Crawford in this sage advice answer,

Casting a spell requires all its components unless a trait or feature says otherwise.

Since this feature doesn't specify that you don't need to provide components, you will by RAW have to not only provide the diamond, but also be able to provide Verbal and Somatic components to cast Raise Dead.

Answer 2

Yes, you still have to supply material components

The ability allows you to cast the spell without expending slots or even having the spell in your book. It does not mention the ability to ignore the material costs as well. In 5e, things do only what they say they do.

Jeremy Crawford has confirmed this by stating:

The transmuter's Restore Life requires a material component. It would tell you if it didn't.