Marula Mining PLC - Proposed Issue of Loyalty Warrants

Marula Mining PLC

("Marula'' or the "Company")

30 July 2026       

Proposed Issue of Loyalty Warrants

Marula Mining PLC (AQSE: MARU A2X: MAR) an African focused mining and development company, is pleased to announce the proposed issue of warrants to its shareholders.

Shareholders of the Company, on the date that is 30 days after the 2024 and 2025 Annual General Meeting of the Company, to be held in due course, will be issued, at no cost, one warrant for every 10 shares held in the Company ("Loyalty Warrants"), subject to shareholder approval.

The Loyalty Warrants will have an exercise price of 7.5 pence and will expire on 30 September 2027.

The Loyalty Warrants will include an exercise accelerator clause, requiring the warrant holder to either exercise or lose the warrants should the Company's Ordinary Share price exceed 12 pence (on a 10-day VWAP basis) over a 30-day period.

Directors and key management personnel of the Company, who hold shares in the Company, will not receive the Loyalty Warrants.

The proposal to issue Loyalty Warrants is to recognise the continued support by the Company's shareholders over the prolonged period of the current suspension and for the Company's battery metals strategy in Africa and allows shareholders to directly benefit from the Company's progress and future growth potential, while reinforcing confidence in our strategic direction.

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.

For enquiries contact:

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.