Mr. Murray Mullen reports

MULLEN GROUP LTD. ANNOUNCES ACQUISITION OF WILLSON INTERNATIONAL

Mullen Group Ltd. has entered into definitive share purchase agreements to acquire Willson International Ltd. and its related entities, a leading provider of customs brokerage and trade compliance services in Canada and the United States. The transaction is expected to close in the fourth quarter.

Founded more than 100 years ago, Willson is an established, trusted and highly regarded brand in the customs brokerage industry. Employing over 330 employees throughout Canada and the United States, the majority of whom are customs-certified professionals, Willson provides industry-leading customs and logistics services to a diverse group of North American and international customers through a suite of proprietary technology solutions. This acquisition adds another long-standing business to Mullen Group's growing customs brokerage platform, complementing the services currently provided by Cole International.

"Willson is an exceptional business with a proud history, an experienced team and a brand that has earned the trust of its customers for more than a century. Businesses with this kind of reputation, history and expertise are very difficult to replicate. We are delighted that Peter Willson has entrusted Mullen Group with carrying the Willson name and legacy forward," commented Murray K. Mullen, chair and senior executive officer of Mullen Group.

"We are pleased to welcome the Willson team to Mullen Group. Willson's customs brokerage expertise, customer relationships and cross-border capabilities are an excellent strategic fit with our organization. Maintaining the company's existing leadership and stand-alone operating model will help preserve the qualities that have made Willson successful while providing access to the resources and financial strength of Mullen Group," added Mr. Mullen.

Willson will continue to operate as a stand-alone business within Mullen Group. Canadian operations will be accounted for within Mullen's Logistics & Warehousing (L&W) segment and U.S. operations will be accounted for within Mullen's U.S. & International (US3PL) segment. The existing senior management team, led by Jim McKinnon, will remain responsible for overseeing Willson's operations and serving its customers.

Strategic rationale

Willson is expected to contribute approximately $80-million in annual revenue, with operating margins generally consistent with those generated by Mullen Group's L&W segment. The business has limited continuing capital requirements, other than continued investment in technology, and is expected to generate positive free cash flow.

Willson's customs service offerings:

• Integral to the supply chain -- customs brokerage and compliance services are required to move goods efficiently across land, air and water ports of entry;
• Demand persists through trade cycles -- customs requirements remain essential regardless of trade volumes or economic cycles, supporting consistent demand for accurate documentation, reporting and compliance expertise;
• Expands Mullen Group's service network -- Willson strengthens Mullen Group's customs brokerage and logistics capabilities across Canada and the United States;
• Strong leadership and platform for continued success -- Willson will operate as a stand-alone business unit, leveraging its extensive professionally certified customs personnel, leadership teams and industry-recognized technology platforms.

"This acquisition is another example of how we deploy capital on behalf of our shareholders. We are investing in an established, cash-generating business operating in a specialized and essential part of the supply chain. We look forward to supporting Willson's customers, business associates and management team as the company enters its next chapter," said Richard Maloney, president and senior operating officer.

The acquisition will be financed from Mullen Group's existing cash resources.

EY Parthenon Corporate Finance Inc. acted as exclusive financial adviser to Willson. EY LLP acted as tax adviser to Willson.

About Willson International Ltd.

Willson International is a leading North American customs brokerage and trade compliance company with operations in both Canada and the United States, helping importers and exporters navigate customs clearance, regulatory requirements and cross-border trade. The company provides customs brokerage, customs clearance, compliance documentation and related trade advisory services that are essential to the efficient movement of goods across international borders.

About Mullen Group Ltd.

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, customs brokerage, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, truckload, warehousing, logistics, transload, oversized, third party logistics, customs brokerage and specialized hauling transportation. In addition, Mullen's businesses 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 listed on the Toronto Stock Exchange under the symbol MTL.

We seek Safe Harbor.