Sulnox Group PLC - Pan Marine distribution and fleet adoption

5 March 2026

Sulnox Group Plc

(the "Company" or "Sulnox")

Pan Marine distribution and fleet adoption

(Aquis Stock Exchange: SNOX, OTCQX: SNOXF)

Sulnox, the greentech company delivering lower fuel costs and emissions with zero capex, is pleased to announce a distribution agreement with Pan Marine Petroleum Services, a leading integrated maritime and energy services provider in Egypt with strong nationwide distribution capabilities  The collaboration significantly enhances Sulnox's access to the Suez Canal area, one of the world's most significant shipping channels, and to the broader Middle East.

Under the agreement, Pan Marine has placed its first commercial order and will actively market Sulnox Eco across its established client network, leveraging the same distribution platform through which it has successfully scaled leading marine brands in the region, including Castrol.

Headquartered in Alexandria and partnered with major energy operators including BP, Shell, and ENI, Pan Marine serves nearly 1,500 clients through more than 20 locations across Egypt. Delivering a comprehensive suite of maritime, logistics and energy support solutions, the company operates within the strategically positioned Free Zone hubs in Al-Amerya and Suez - anchoring operations at both the Mediterranean and Red Sea gateways of the Suez Canal and enabling efficient distribution and fleet support across one of the world's most critical maritime corridors.

The Suez Canal carries approximately 12% of global seaborne trade and up to 30% of global container traffic, acting as a vital artery between Asia and Europe. The canal handles more than 20,000 vessel transits per year - compared with 13,000 through the Panama Canal - and has historically transported around 1.6 billion tonnes of cargo each year (Source: Observatory of Economic Complexity). These traffic volumes translate into very substantial fuel consumption and emissions, particularly across long-distance East-West trade routes, and therefore represent a considerable opportunity for Sulnox to support shipping operators locally.

The Suez Canal is also a key route for ships moving between Asia and Europe, where tougher EU emissions rules being applied through FuelEU regulation. Many shipping companies are beginning to use lower‑carbon biofuel blends loaded in Asian ports to cut their emissions exposure on European parts of the journey. Some of these biofuels can become unstable when stored for extended periods, which can affect fuel quality and engine performance. Sulnox Eco is designed to improve combustion efficiency and stability in storage for both traditional and biofuel blends, helping operators manage this transition more reliably.

Demonstrating immediate confidence in Sulnox's core product, Sulnox Eco^TM, Pan Marine has moved directly to adoption in its own fleet without the need for trial, having reviewed case studies from other maritime operators like Eastern Pacific Shipping. The fleet includes platform support vessels, a container ship and a RoPax - all certificated to the highest international safety standards. Pan Marine continues to invest in upgrades and sustainability initiatives aimed at reducing emissions and environmental impact, with Sulnox Eco representing its latest enhancement.

Commenting on the agreement, Ben Richardson, CEO of Sulnox, said:

"Working with Pan Marine materially strengthens Sulnox's position in the Suez Canal region - a strategically critical maritime corridor and gateway for Asia-Europe trade.

As regulatory pressure intensifies, including FuelEU Maritime requirements, and the adoption of biofuel blends increases, operators require solutions that reduce emissions while maintaining fuel performance and stability.

Pan Marine's decision to move directly to fleet-wide adoption following its review of independent data and maritime case studies represents a strong commercial endorsement of Sulnox Eco. Combined with its proven ability to scale established marine brands across the region, this partnership provides a compelling platform for accelerated growth."

Marwan Haridy El Shazly, Vice President (Marketing Contracts) at Pan Marine, added:

"Having operated in the Suez region for more than four decades, we understand the commercial and regulatory pressures facing shipowners transiting this corridor. Operators need solutions that deliver measurable fuel efficiency and emissions improvements without operational disruption.

Following our review of independent data and maritime case studies, we took the decision to implement Sulnox Eco across our own fleet. That confidence underpins our commitment to actively introduce the product across our established regional customer base.

As a distributor of globally recognised marine brands, we see Sulnox as a natural extension of our portfolio - enabling us to offer a performance-driven solution to our established customer base as regulatory and fuel standards evolve."

ENDS

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