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Mullen Group Ltd. M&A Activity 2024

May 3, 2024

46434_rns_2024-05-03_11103fea-9231-408d-88d8-1a32d2380b16.pdf

M&A Activity

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NEWS RELEASE

Head Office:

121A - 31 Southridge Drive Okotoks, Alberta, Canada T1S 2N3 Tel: 403-995-5200 Toll-free: 1-866-995-7711 Fax: 403-995-5296

Mullen Group Ltd. Closes Acquisition of ContainerWorld Forwarding Services Inc.

(Okotoks, Alberta May 3, 2024) (TSX: MTL) Mullen Group Ltd. (" Mullen Group ", " We ", " Our " and/or the " Corporation ") is pleased to announce the closing of the previously announced acquisition of ContainerWorld Forwarding Services Inc. and its operating subsidiaries (" ContainerWorld ") effective May 1, 2024. Richmond, British Columbia based ContainerWorld, a well-established and reputable company founded in 1993, is a Canadian logistics company that offers integrated supply chain solutions to the alcoholic beverage and hospitality industries. ContainerWorld will operate as an independent, wholly-owned subsidiary of Mullen Group.

About Mullen Group Ltd.

Mullen Group is one of Canada's largest logistics providers. Our network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation. In addition, we provide a diverse set of specialized services related to the energy, mining, forestry and construction industries in western Canada, including water management, fluid hauling and environmental reclamation. The corporate office provides the capital and financial expertise, legal support, technology and systems support, shared services and strategic planning to its independent businesses.

Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol " MTL ". Additional information is available on our website at www.mullen-group.com or on the Corporation's issuer profile on SEDAR+ at www.sedarplus.ca.

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