Marula Mining PLC

("Marula'' or the "Company")

24 March 2025

Logistics Contract Signed for Kilifi Manganese Plant

Marula Mining PLC (AQSE: MARU A2X: MAR), an African-focused mining and development company, is pleased to announce that its wholly-owned subsidiary, Muchai Mining Kenya Limited ("MMK"), has entered into an export logistics agreement (the "Agreement") with Scan Global Logistics Kenya Limited ("SGL Kenya"), a subsidiary of the Scan Global Logistics Group for the transportation and export of manganese ore from the Kilifi Manganese Processing Plant ("Kilifi Plant") located in the Tezo area, Kilifi County, Kenya.

Under the terms of the Logistics Agreement, SGL Kenya will manage and oversee all aspects of the ore transportation and shipping process, including the transportation of the containerised manganese ore to the Port of Mombasa, export booking process, customs clearance, and all port-related processes, as well as the sea freight and shipping arrangements.

The first transportation of manganese ore to the Port of Mombasa, under the Agreement, is expected in April 2025.

Highlights:

·      Key logistics, export and shipping agreement signed with SGL Kenya for manganese ores to be exported from the Kilifi Manganese Processing Plant (the "Kilifi Plant") located in the Tezo Area, Kilifi County in Kenya

·      The Agreement covers the planned exports from the Kilifi Plant under the 5-year Agency Framework Contract with Baosteel Resources South Africa (Pty) Ltd ("Baosteel Resources"), a wholly owned subsidiary of state-owned China Baowu Steel Group Co., Ltd., ("Baowu"), the world's largest steel producer

·      SGL Kenya is part of the SGL Group, which has a global presence in the logistics and freight forwarding industry across all six continents and extensive experience and knowledge to deliver comprehensive logistics solutions. Under the Agreement SGL Kenya will oversee full manganese ore transportation and shipping processes, from the mine through to the final destination port in China. This includes the transportation of the containers to the Port of Mombasa, export arrangements, customs clearance, port-related procedures, sea freight, and all shipping arrangements

·      SGL Kenya have visited the Kilifi Plant several times over the past months and most recently earlier this month with representatives of the Company to inspect the on-site activities, modifications and optimisation work underway as well as to finalise a review of the stockpiling and container loading processing and procedures

Jason Brewer, CEO of Marula Mining, commented:

"We are delighted to be working with Scan Global Logistics Kenya at the Kilifi Manganese Processing Plant.

"Their proven expertise in logistics management will greatly assist us as we commence our manganese processing operations and look to commence deliveries under the recently announced agreement with Baosteel Resources.

"The Kilifi Manganese Processing Plant benefits from excellent infrastructure being just 60 kilometres from the Port of Mombasa and I am confident that with the support of SGL Kenya our collaboration will be a successful one for our new Kilifi Manganese Processing Plant."

The Directors of Marula are responsible for the contents of this announcement.

About Marula Mining

Marula Mining (AQSE: MARU A2X: MAR) is an African focused battery metals investment and exploration company and has interests in several high value mining operations and mine development projects in Africa: the Blesberg Lithium and Tantalum Mine, Northern Cape Lithium and Tungsten Project and Kruisrivier Cobalt Mine, all in South Africa; the Larisoro Manganese Mine and Kilifi Manganese Processing Operation both in Kenya; the Kinusi Copper Mine, the Nyorinyori Graphite Project and the NyoriGreen Graphite Project all in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.

Marula's strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy. Marula's shares are traded on AQUIS Stock Exchange (AQSE) in London and A2X Markets in South Africa. Marula is exploring opportunities to admit its shares to trading on Kenya's Nairobi Securities Exchange and South Africa's Johannesburg Stock Exchange.

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Caution:

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.