Marula Mining PLC

("Marula'' or the "Company")

4 August 2025   

Agreement Entered into with WEEE Centre on Black Mass Extraction and

Lithium-Ion Battery Recycling Project in Kenya

Marula Mining PLC (AQSE: MARU A2X: MAR) an African focused mining and development company, is pleased to announce that, through its wholly owned subsidiary Marula Metals Processing Limited ("Marula Metals"), it has entered into a formal Collaboration Agreement with WEEE Centre Limited ("WEEE Centre"), a licensed electronic waste management company based in Nairobi, Kenya.

WEEE Centre is a social enterprise registered in Kenya with operations across 18 African countries and offers the services of e-waste management through engagement of youths and communities in the e-waste processing value chains for improved social, economic and environmental conditions in a sustainable circular model. Established in 2012, the Centre is promoting environmental sustainability through responsible e-waste management while also driving innovation, public awareness, and green job creation across Kenya.

The agreement follows WEEE Centre's submission of a comprehensive Concept Note, which identified lithium-ion battery waste as a critical challenge and opportunity within Kenya's clean energy and e-mobility transition.

Under the terms of the agreement, Marula Metals has committed to invest EUR 500,000 in support of the early-stage development of a lithium-ion battery recycling and critical metals processing facility (the "Project") in Kenya, with a focus on the recovery and repurposing of e-waste and battery materials. Marula Metals expects to satisfy the initial EUR 500,000 commitment from a combination of anticipated future cash flows from its operations and potential financing arrangements.

This commitment reflects the Company's continued focus on the sustainable and responsible development of Africa's natural resources and aligns strongly with its ESG policies and support towards the economy transformation in the energy and mining sectors.

Highlights:

·    The Project aims to establish a black mass extraction facility for end-of-life lithium-ion batteries ("LIBs"), targeting the recovery of lithium, cobalt, manganese, nickel and other high-value battery materials.

·    The Project is intended to directly support circular economy objectives, reduce environmental pollution, and promote responsible sourcing of battery materials within Africa.

·    The Project will be operated through a Special Purpose Vehicle ("SPV") to be established and managed by WEEE Centre

·    Marula Metals has committed an initial funding of EUR 500,000 to support the development phase and implementation of the Project, with the option to provide further investment in later phases of the Project

·    Marula Metals' investment will support key aspects of the Project's initial phase, including infrastructure development, pilot project implementation, and technical research.

·    WEEE Centre intends to spend LIBs from various sources including households, solar firms, telecommunication companies, and e-waste aggregators across Kenya

·    WEEE Centre aims to establish a dedicated black mass extraction line, upgrading existing facilities and deploying tested LIB-safe processing technologies to operate a controlled, environmentally compliant process to extract black mass

·    A joint monitoring and evaluation framework will be established by both parties to ensure transparent deployment of funds and alignment with shared impact goals

This collaboration marks a step in Marula's ongoing expansion into value-added processing, critical metals recycling, and urban mining.

The Company remains committed to a sustainable and responsible development in the battery and critical minerals sector and to promoting value addition and circular economy initiatives across its areas of operation.

Jason Brewer, CEO of Marula Mining, said:

"We are delighted to formally partner with WEEE Centre. This agreement enables us to participate in delivering sustainable, scalable recycling infrastructure for LIBs and critical materials in Kenya.

"We look forward to working closely with WEEE Centre and future onboarding partners to develop a processing and recycling project.

"It also reinforces our initiatives into processing and value creation, which will support Kenya's industrial growth, green transition, and long-term economic resilience."

Bonnie Mbithi, CEO of WEE Centre said:

"We are thrilled to be advancing a bold new project with Marula Metals to develop a scalable, sustainable solution for extracting black mass from end-of-life Lithium-Ion batteries in Kenya.

"Our goal is to recover valuable materials like lithium, cobalt, manganese, and nickel in a bid to support Africa's circular economy initiatives and helping meet global demand for critical battery components. Through a strong business model, spanning collection of spent LIBs, local processing and refining of black mass, we are turning e-waste into an even bigger economic opportunity.

"This project not only tackles a growing environmental challenge, but also builds local capacity, creates green jobs, and positions Kenya as a regional leader in responsible battery recycling and resource recovery."

About WEEE Centre Limited

WEEE Centre offers a structured, certified, and environmentally sound approach to e-waste disposal. Working in close collaboration with businesses, government institutions, NGOs, and communities, the organization provides a wide range of services including e-waste collection, secure data destruction, dismantling, sorting, materials recovery, and public education. These services ensure that hazardous substances are safely handled and that valuable materials such as copper, aluminium, plastics, and rare metals are recovered and reintroduced into the manufacturing cycle - supporting the principles of a circular economy.

The Centre is ISO 9001 and ISO 14001 certified, affirming its commitment to quality management and environmental responsibility. It also aligns with key global initiatives such as the Sustainable Development Goals (SDGs), particularly those related to responsible consumption and production, environmental protection, and decent work. Through its partnerships with international organisations, private sector and government agencies, WEEE Centre is continuously advancing its impact and contributing to policy development around e-waste in Kenya and beyond. It also offers capacity-building programmes on environmental education in collaboration with schools and institutions of higher learning.

Innovation is part and parcel of WEEE Centre's strategy. The organisation has been exploring new frontiers such as battery recycling, particularly LIBs from electric vehicles and portable electronics. This positions WEEE Centre at the forefront of addressing future waste challenges linked to Africa's transition to renewable energy and electric mobility. As the demand for sustainable and safe e-waste solutions grows, WEEE Centre will continue to scale its efforts, explore new technologies, whilst fostering partnerships that enhance environmental protection and economic development.

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 and Northern Cape Lithium and Tungsten Project, all in South Africa; the Boteti Lithium Brines Project in Botswana; 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.