Marula Mining PLC - Purchase Order for Manganese & Baosteel Update

17 February 2026

Marula Mining PLC

("Marula'' or the "Company")

Purchase Order for Kilifi Manganese Ore Shipment

Baosteel Shipment Updates

Marula Mining PLC (AQSE: MARU A2X: MAR) an African focused mining and development company, is pleased to announce that its wholly owned subsidiary Muchai Mining Kenya Limited ("MMK") has entered into a purchase order for an initial trial shipment of 500 tonnes of processed manganese ore with Jindal Pelletising LLC ("JPL"), a subsidiary of Jindal Steel Limited ("Jindal Steel"), one of India's foremost integrated steel producers.

This initial trial shipment is for the export sale of manganese ore from the Company's Kilifi Manganese Processing Plant (the "Kilifi Plant") located in the Tezo Area, Kilifi County in Kenya.

Processing of manganese ore at the Kilifi Plant is set to commence in due course and the scheduled dispatch date from the port of Mombasa to the Port of Sohar in Oman has been agreed with JPL.

Sales to be concluded between the Company and Jindal are in addition to the Company's existing manganese ore sales from the Kilifi Plant with Baosteel Resources South Africa (Pty) Ltd ("Baosteel') which have been significantly delayed in 2025 due to matters beyond the Company's control.

The Company anticipates that deliveries to Baosteel will also now proceed. A further announcement will be provided once these commence.

Representatives of Jindal Steel are due to commence a site visit to the Tshipi Manganese Mine in South Africa to undertake on site due diligence of the Company's recently announced proposed manganese mine and processing plant acquisitions. This visit is expected to further strengthen the strategic relationship between the parties.

Furter updates of the Company's manganese ore export sales 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.

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 mining operations and mine development projects in Africa: the Blesberg Lithium and Tantalum Mine and Northern Cape Lithium and Tungsten Project, all in South Africa; the Boteti Lithium Brines Project in Botswana; the Larisoro Manganese Mine and Kilifi Manganese Processing Operation both in Kenya; the Kinusi Copper Mine, the Nyorinyori Graphite Project and the NyoriGreen Graphite Project all in Tanzania. 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, Central 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. Marula is exploring opportunities to admit its shares to trading on Kenya's Nairobi Securities Exchange and South Africa's Johannesburg Stock Exchange.

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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.