[Ferro-Alloys.com]  KILIFI MANGANESE PROCESSING PLANT UPDATE

Marula Mining plc, 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.

• [Editor:tianyawei]