Graphene Manufacturing Group Appoints Former Chief Technology Officer of CATL Limited to its Board of Directors

Brisbane, Queensland, Australia--(Newsfile Corp. - June 27, 2023) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to advise that Mr Bob Galyen, based in Indiana USA, will join the Company's board of directors effective 1 July, 2023. Mr. Galyen has been an advisory member of the Company's Technical Advisory Committee since June 2022.

Mr Galyen has global experience as a leading executive in the battery energy storage industry and science/engineering-based communities. Among his many roles Bob has been the Chief Technology Officer of Contemporary Amperex Technology Company Limited (CATL), which is the largest lithium ion battery manufacturer in the world, was Chair of the SAE International Battery Standards Steering Committee and is CTO and Chairman Emeritus of NATTBatt International. He serves on a number of Committees and Advisory Boards.

GMG's CEO Craig Nicol stated, "I'm very excited to see Bob's ongoing additional contributions as a Director of the Company following his sharing of knowledge and coaching on battery design and scaling battery manufacturing in his capacity as an advisor on the Technical Advisory Committee."

Guy Outen, GMG's Chair added, "I'm delighted to welcome Bob to the board. His past successes in CATL and GM and his recent contributions to GMG as an advisor give me confidence that he will be a great asset to the board and in supporting GMG's significant aspirations."

About GMG

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, with low cost inputs, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").

For further information, please contact:

• Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements," are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the effective date on which Mr. Galyen will join the board of director, and the contributions Mr. Galyen will make to the Company in his capacity as a director.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the effective date on which Mr. Galyen joins the board of directors, and his contributions as a director differing from management's current expectations.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the effective date on which Mr. Galyen will join the board of directors, and the positive impact Mr. Galyen will have on the Company's development in that role.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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