Mr. Murray Mullen reports

MULLEN GROUP LTD. ANNOUNCES REJECTION OF DIRECTOR RESIGNATION

Further to the news release dated May 4, 2023, Mullen Group Ltd.'s board of directors will not accept the resignation of Sonia Tibbatts as a director of the corporation.

At the annual meeting of shareholders of the corporation held on May 3, 2023, eight nominees including Ms. Tibbatts were elected as directors of the corporation; however, Ms. Tibbatts did not receive the requisite majority of votes cast in respect of her election. In accordance with the corporation's majority voting policy, she tendered her resignation for consideration by the compensation, nomination and governance committee of the board.

The CNG committee considered the factors it deemed relevant in respect of her resignation and made a recommendation to the board to reject the resignation. After consideration of the recommendation of the CNG committee, as well as further evaluation of all of the factors the board deems relevant, the board has determined that there are exceptional circumstances that warrant the board not to accept the resignation of Ms. Tibbatts. As a result, Ms. Tibbatts will continue to serve as a director of the corporation until the close of the next annual meeting of shareholders of the corporation, or until her successor is elected or appointed.

A key factor taken into account by the board in reaching its determination included the fact that the primary cause for the withhold votes cast against Ms. Tibbatts was that certain shareholders advisory groups recommended against her election because she is the chair of the CNG committee and the board is composed of fewer than 30 per cent women directors. The board determined that it would be contrary to the objective of increasing diversity of the board to accept the resignation of Ms. Tibbatts and an injustice to Ms. Tibbatts. An additional factor taken into consideration was that Mullen Group was never offside on its gender diversity initiatives and that the representation of women on the board temporarily fell below the recommended 30-per-cent threshold as a result of the board's focus on broader diversity initiatives in adding Jamil Murji and Benoit Durand. The board remains committed to acting in the best interests of the corporation and all shareholders.

The board has been and will continue to be committed to making the effort to meet the 30-per-cent recommended threshold and, in that regard, will take steps to recruit an additional woman to join the board, as well as implement a gender diversity policy. The board expects to achieve representation by women directors of at least 30 per cent before the next annual meeting of shareholders of the corporation.

About Mullen Group Ltd.

Mullen Group is one of Canada's largest logistics providers. Its network of independently operated businesses provides a wide range of service offerings, including less than truckload, truckload, warehousing, logistics, transload, oversized, third party logistics and specialized hauling transportation. In addition, it provides 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 system support, shared service, and strategic planning to its independent businesses.

Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol MTL.

We seek Safe Harbor.