Proposed Listing on Johannesburg Stock Exchange

Marula Mining PLC

 ("Marula'' or the "Company")

29 June 2023

Advisers Appointed for Proposed Listing on Johannesburg Stock Exchange

Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to announce its plans to make an application for a dual listing of its ordinary shares on the Johannesburg Stock Exchange ("JSE"). The Company has appointed South African corporate advisory group, Bridge Capital Advisors Pty Limited ("Bridge Capital") as its Corporate Advisor to manage and oversee the listing process on the JSE.

Highlights:

• Leading independent South African corporate advisory group, Bridge Capital, has been appointed as the Company's Corporate Advisor to manage and oversee the proposed listing on the JSE
• The decision to apply for a dual listing on the JSE is driven by the Company's strategy to establish itself as one of the leading battery metals focused African mining, exploration and development companies
• Marula's partnership with Q Global Commodities ("Q Global"), one of South Africa's leading independent commodity, mining, logistics and investment funds, has played a significant role in facilitating this decision to seek a listing on the JSE
• The Company anticipates that the proposed listing on the JSE, in addition to a planned dual listing on the Nairobi Securities Exchange ("NSE"), will occur after the Company's planned listing on the AIM Market of the London Stock Exchange, anticipated to occur in due course
• The JSE is Africa's largest and most liquid stock exchange with 39 listed mining companies, of which 23 are dual listed
• The JSE basic material sector has an aggregated market capitalisation of ZAR6 trillion, accounting for 28% of the overall JSE market capitalisation
• The Board believes that the proposed listing would be well supported by investors in South Africa and by the Company's key stakeholders in Southern and East Africa
• The planned listing on both the JSE and NSE demonstrates Marula's commitment to the key countries it operates in within the African continent and recognises the vast potential and growth of the continent's capital markets

Jason Brewer, Marula Mining PLC CEO, said:

"We are pleased to announce our plans to list on the JSE and the appointment of Bridge Capital as the Company's Corporate Advisor for this listing process.

"We are looking forward to a very busy third quarter in 2023 which should see us progress with our proposed listing to the AIM Market of the London Stock Exchange and obtain dual listings on both the Johannesburg and Nairobi Stock Exchanges in due course.

"This strategic move is supported by a strong and increasingly growing partnership with Q Global. This collaboration further enhances Marula Mining's positioning for success on the JSE and I believe strengthens our prospects for growth and value creation in Southern Africa.

"The proposed dual listings on the Johannesburg and Nairobi exchanges represents a significant milestone in the Company's journey, opening new avenues for expansion. We remain dedicated to delivering sustainable long-term returns to our shareholders and maximising the potential of Africa's mining sector and capital markets.

"Through this listing on the JSE, we anticipate enhanced market visibility, the attraction of new investors, and the ability to capitalise on the abundant opportunities within Africa's mining landscape."

About Johannesburg Stock Exchange

The Johannesburg Stock Exchange is Africa's largest and most liquid exchange, providing a comprehensive platform for trading equities, bonds, derivatives, and various financial instruments.

With a notable presence in the mining sector, the JSE boasts 39 listed mining companies, of which 23 are dual listed. This robust representation demonstrates the exchange's significant role in the mining industry. The basic material sector alone holds a substantial market capitalization of ZAR6 trillion, accounting for 28% of the overall JSE market capitalization.

The JSE operates on a solid foundation of well-regulated, liquid, and resilient markets, making it an appealing destination for both local and global companies looking to tap into the African market. Its established reputation and diverse offerings make it an ideal platform for companies seeking growth opportunities and access to a wide range of investors.

About Bridge Capital Advisors

Bridge Capital is an independent M&A advisory, corporate finance, renewable energy, and property advisory house, registered as a Sponsor to a number of companies listed on the JSE Securities Exchange South Africa and is also a Designated Advisor on AltX.

Bridge Capital was founded in 1999, venturing beyond traditional corporate finance to offer advice on many aspects of business strategy and operations, working with clients to create, unlock and enhance shareholder value. Bridge Capital strives to provide clients with tangible long-term solutions to their corporate finance needs.

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

About Marula Mining

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project 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 the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, and Kenya's Nairobi Securities Exchange.

For enquiries contact:

Marula Mining PLC Jason Brewer, Chief Executive Officer Faith Kinyanjui Mumbi Investor Relations	Email : [e-mail] Email : [e-mail]
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	[phone]
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	[phone]
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	[phone]

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.

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