Marula Mining PLC - Strategic Kenya Developments

Marula Mining PLC

("Marula'' or the "Company")

1 May 2026        

Strategic Kenya Developments - Battery Recycling and Academic Collaboration

Marula Mining PLC (AQSE: MARU A2X: MAR) is pleased to provide an update on two strategic initiatives in Kenya, both of which are aligned with its strategy to enhance mineral value addition, strengthen downstream processing capability, and contribute to sustainable economic development in-country.

Lithium-Ion Battery Recycling and Black Mass Project

In H2 2025, the Company entered into a collaboration agreement with WEEE Centre Limited ("WEEE Centre"), a Kenyan social enterprise operating across 18 African countries, to establish a lithium-ion battery recycling and critical metals processing facility in Kenya (the "Project"). The Project will be undertaken through a dedicated special purpose vehicle, Urban Mining Limited, and combines the Company's battery metals and project development expertise with WEEE Centre's licensed e-waste infrastructure and regional operating footprint.

Phase 1 of the Project's 12-month implementation framework has now been finalised, providing a structured operational and governance roadmap for the pilot programme. This phase will focus on the establishment of pre-processing capability, feedstock validation, and the production of initial black mass, alongside the generation of operational data to support future scale-up.

The Company, as announced on 10 March 2026, has committed EUR 500,000 to the Project (subject to the availability of funds), to be deployed in staged tranches linked to key technical and operational milestones. Definitive agreements are currently undergoing final legal review and are expected to be executed shortly, with initial funding planned for deployment in May 2026. Phase 1 operations are scheduled to commence in Q2 2026.

The Company and WEEE Centre continue to engage in constructive discussions regarding potential downstream processing, regional expansion opportunities, and further value-enhancing initiatives linked to battery materials and critical metals recovery in East Africa.

JKUAT Research and Academic Collaboration

The Company, as announced on 28 July 2025, also entered into a five-year collaborative research and academic agreement with Jomo Kenyatta University of Agriculture and Technology (JKUAT), one of Kenya's leading science and engineering universities. The agreement establishes a framework for joint research, skills development, and technological innovation across mining, mineral processing, and mineral value addition.

Initial areas of focus include the development of proprietary processing technologies in Kenya, with particular emphasis on the production of battery-grade materials. This includes research into the production of High Purity Manganese Sulphate Monohydrate ("HPMSM") from the Company's Kenyan manganese operations, targeting the electric vehicle battery supply chain.

The collaboration commenced in April 2026, with initial research work now underway to develop a technically viable processing flowsheet for the conversion of manganese ore into battery-grade HPMSM. This work is intended to support future pre-feasibility studies and assess opportunities to enhance value realisation from existing mineral output through downstream processing.

Outlook

These initiatives reflect the Company's broader strategy to move beyond primary extraction and to pursue opportunities that enhance in-country beneficiation, support skills development, and contribute to long-term economic growth in Kenya. Further discussions remain ongoing across both projects, with a continued focus on unlocking additional value, strengthening local supply chains, and positioning the Company within the rapidly growing battery materials market.

These strategic initiatives by Marula directly align with the objectives of the Kenya Mining Investment Conference & Expo. The conference's theme, "Partnerships for Prosperity: Advancing Value-led Mining in Kenya," resonates strongly with Marula's approach of fostering collaborative ventures that enhance local value addition, promote sustainable economic growth, and strengthen Kenya's position in the global battery materials market. By advancing projects that prioritise in-country beneficiation and skills development, Marula is contributing to the very vision of partnership-driven, value-led mining that the conference seeks to promote.

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

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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 critical mineral mining operations and mine development and exploration projects in East and Southern Africa. 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, 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.

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.