Marula Mining PLC - Kilifi Manganese Processing Plant Update

Marula Mining PLC

("Marula'' or the "Company")

25 June 2026

Kilifi Manganese Processing Plant Update

Marula Mining plc (AQSE: MARU; A2X: MAR), the African-focused mining and development company, is pleased to provide a further update on operations at the Kilifi Manganese Processing Plant (the "Kilifi Plant"), located in the Tezo Area, Kilifi County, Kenya.

Assay results of processed manganese ore, which is currently stockpiled at the Kilifi Plant, indicate that the average grade of the tested manganese stockpiles exceeds the minimum manganese grade specification as set out in the previously announced Agency Framework Contract (the "Agreement") entered into by its wholly owned Kenyan subsidiary, Muchai Mining Kenya Limited ("MMK"), and Baosteel Resources South Africa (Pty) Ltd ("Baosteel"), a wholly owned subsidiary of China Baowu Steel Group Co., Ltd.

As announced on 10 June 2026, independently assayed samples from the processed manganese stockpile at the Kilifi Plant were reported as being materially in excess of the minimum 36.5% manganese ("Mn") grade specification required under the Agreement.

The Company also confirmed in its announcement of 10 June 2026, that further samples of the stockpiled manganese had been submitted for independent analyses, as part of the Company's final arrangements prior to proceeding with the sale and export of the manganese material.

The assay results for these samples have now been received and are summarised below.

These results from the additional samples taken indicate an average manganese grade of the manganese stockpiles of approximately 39.5% Mn.

The Company's executive management are pleased with these results, which it believes further supports the commercial manganese processing operations at the Kilifi Plant. The high-grade manganese results are of particular importance given that the pricing of the manganese sales are based on a standard 'Dry Metric Tonne Unit' ("DMTU"), where one DMTU equals 1% of a dry metric tonne of manganese and as such indicate that the Company may receive a higher price per tonne of manganese ore sold than budgeted.

As previously announced, meetings were held with stakeholders and representatives of the Company's offtake partners were held in Johannesburg in early June 2026, to progress and finalise the initial purchase order and shipping arrangements.

Following these discussions, and with these independent assay results now received, the Company, MMK and the appointed shipping agent can proceed and finalise the arrangements for the loading, inland transport and export documentation for the movement of high-grade manganese material from the Kilifi Plant to Mombasa Port.

Summary manganese assay results received.

The Company expects to commence its first manganese shipment in July 2026.

The Company's Executive Management and the Kilifi Plant operations team are co ordinating with all key stakeholders and the appointed shipping agent to complete the remaining export requirements before shipment.

Further updates will be provided in due course.

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.

ENDS

About Marula Mining

Marula Mining (AQSE: MARU; A2X: MAR) is an African-focused battery metals investment and exploration company with interests in several high-value critical mineral mining operations, mine development projects and exploration projects in East and Southern Africa. As Marula advances operations at these battery metals-focused projects, the Company 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, high-value mining projects throughout East and Southern Africa that the Directors believe can deliver returns for shareholders. The Board and management team aim to establish Marula as a socially and environmentally responsible, sustainable and profitable producer of critical metals and commodities of increasing strategic importance to modern technologies and the global economy. Marula's shares are traded on the 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 terms, variations of them 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, 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.