Marula Mining PLC
(“Marula’’ or the “Company”)

6 March 2023

Increase in Director/PDMR Shareholding

Marula Mining (AQSE: MARU) an African focused mining and development company, announces that it was notified on 3 March 2023 that Gathoni Muchai Investments Limited (“GMI”), a company associated with Marula’s Chief Executive Officer, Jason Brewer, increased its shareholding in the Company with the acquisition of 3,478,750 ordinary shares on 3 March 2023 at a price of 8.5p per ordinary share (“Share Purchase”).

The Share Purchase was completed via an off-market transaction with Takela Mining Tanzania Limited (“Takela”) for total consideration of £295,693.75.

Following the Share Purchase, GMI holds 10,798,750 ordinary shares, representing approximately 10.1% of the Company’s issued share capital and Takela holds 3,478,750 ordinary shares, representing approximately 3.2% of the Company’s issued share capital.

Jason Brewer, Chief Executive Officer of the Company is a connected person to the Chief Executive Officer of GMI and a substantial shareholder and director of GMI.

Following the above transaction, the table below sets out the interest in the share capital of the Company of Mr Brewer:

¹ 815,000 ordinary shares are held through Mayflower Capital Investments Pty Ltd

² 10,798,750 ordinary shares are held through Gathoni Muchai Investments Limited

³ A warrant over 32,500 new ordinary shares are held through Mayflower Capital Investments Pty Ltd

⁴ A warrant over 1,375,500 new ordinary shares are held through Gathoni Muchai Investments Limited

The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.

About Marula Mining

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project 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 the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, and Kenya’s Nairobi Securities Exchange.

For enquiries contact:

Caution;

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi?ed 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 re?ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.