Mr. Craig Nicol reports

GMG PROVIDES DETAILS OF 2023 AGM TO BE HELD VIRTUALLY

Graphene Manufacturing Group Ltd. has provided details of its coming annual meeting of shareholders (AGM) to be held virtually on Tuesday, Nov. 27, 2023, at 8 a.m. Australian Eastern Standard Time (being Monday, Nov. 26, 2023, at 2 p.m. Pacific Standard Time).

TO VOTE AHEAD OF THE VIRTUAL AGM

The AGM will be held in a virtual format, allowing shareholders to have an equal opportunity to participate at the AGM online regardless of their geographic location.

The meeting materials, consisting of the notice of meeting, management information circular and related materials (collectively the "Meeting Materials") will be mailed on or about October 23, 2023. If you have not received your copy of the Meeting Materials by November 10, 2023, please contact your broker if you are a non-registered shareholder, or contact Computershare if you are a registered shareholder. The Meeting Materials outline in detail how to participate at the AGM.

Where a shareholder has previously consented to electronic delivery, the Meeting Materials will be sent to the shareholder electronically.

Non-registered shareholders are encouraged to contact their brokers to register for electronic delivery of GMG's Meeting Materials.

The Meeting Materials are available at GMG's profile on SEDAR+ at www.sedarplus.ca as well as in the Investors Section of GMG's website at https://graphenemg.com/agm-materials/.

As in prior years, shareholders have multiple options to cast their vote ahead of the AGM, which include on-line, via telephone or via mail. Details on using each method are included in the Circular and the form of proxy. Shareholders who are planning to vote ahead of the AGM must submit their proxy voting instructions to Computershare no later than 8:00 a.m. Brisbane Australian Eastern Standard Time on Friday, November 24, 2023, being 2:00 pm (Canadian Pacific Standard Time) on Thursday, November 23, 2023.

ATTENDING THE VIRTUAL AGM

All shareholders will be able to attend the AGM virtually. To do so, login online at https://web.lumiagm.com/441166300, Meeting ID: 441-166-300, Password: graphene2023 (case sensitive).

All securityholders MUST register any third party appointments at www.computershare.com/graphene in advance of the AGM. Failure to do so will result in the appointee not receiving login credentials.

Registered Holders will be asked to enter the 15 digit control number provided on your form of proxy provided by Computershare.

Appointed Proxyholders will be asked to enter the user name provided by Computershare via email, provided your appointment has been registered.

Attendees who do not enter the 15 digit control number or the user name provided by Computershare will only be allowed to register for the AGM as a "Guest".

It is recommended that attendees log in 15 minutes prior to the start time of the AGM.

TO VOTE OR ASK QUESTIONS AT THE VIRTUAL AGM

For registered shareholders and duly appointed proxyholders to vote their proxies and/or ask questions at the AGM, please follow the instructions set out in the Meeting Materials.

All shareholders wishing to have a question addressed at the virtual AGM can avoid the registration requirements set out in the Meeting Materials by submitting them in advance to AGM23@graphenemg.com. Questions will be collected, organized by theme and posed to management at the AGM. GMG is committed to addressing all appropriate questions submitted by shareholders either live during the AGM or in advance, as timing and circumstances permit.

Shareholders who have questions on how to vote their proxy in advance of the AGM, or on how to register to vote at the AGM, can contact AGM23@graphenemg.com.

Attendees who have registered for the AGM as a "Guest" will not have the ability to vote at the AGM or ask questions.

Shareholders are reminded that if you vote in advance of the Meeting you are not required to vote again on the day of the Meeting.

Board appointments

Emma FitzGerald, Guy Outen and Robert Shewchuk are not standing for re-election.

GMG thanks the outgoing directors for their role in the growth of GMG, and wishes them all the best in their future endeavours.

In anticipation of these departures, GMG has appointed to the board Robert Galyen, Andrew Small and Jack Perkowski, who all propose to stand for re-election at this AGM along with Craig Nicol and Will Ollerhead. Each of these new appointees bring significant additional and relevant experience to the GMG board, and are uniquely qualified to facilitate the next stage of growth for GMG.

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").

We seek Safe Harbor.