Mr. Craig Nicol reports

GRAPHENE MANUFACTURING GROUP LTD. ANNOUNCES CLOSING OF BOUGHT DEAL FINANCING

Graphene Manufacturing Group Ltd. has completed its previously announced bought deal offering of 7,245,000 units at a price of 80 cents per unit for aggregate gross proceeds to the company of $5,796,000, which includes the exercise in full of the underwriters' (as defined below) overallotment option for 945,000 units.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant shall be exercisable into one additional common share of the company for a period of 36 months from the closing of the offering at an exercise price of $1.10.

Under the offering, Ventum Financial Corp. acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, including Red Cloud Securities Inc., pursuant to the underwriting agreement entered into between the underwriters and the company dated March 14, 2025.

The offering was completed pursuant to a prospectus supplement dated March 14, 2025, to the short form base shelf prospectus of the company dated March 7, 2025, in each of the provinces of Canada (except Quebec), in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and applicable state securities laws, and other jurisdictions outside of Canada and the United States on an exempt basis, provided that the issuance of the units (including the underlying securities) is permitted under laws applicable to the company (including the Australian Corporations Act 2001 (Cth)). The offering remains subject to the final approval of the TSX Venture Exchange.

The company intends to use the net proceeds of the offering to expand its production capacity to increase sales, to continue research and development to progress the graphene aluminum-ion battery with the battery innovation centre of Indiana, to prepare to uplist on a major U.S. exchange, and for working capital and general corporate purposes.

In connection with the offering, the company paid the underwriter a cash commission equal to 7 per cent of the gross proceeds of the offering and issued to the underwriter such number of compensation warrants as is equal to 7 per cent of the number of units sold pursuant to the offering. Each compensation warrant is exercisable into a unit share at the offering price until 36 months from the closing of the offering.

About Graphene Manufacturing Group Ltd.

Graphene Manufacturing is an Australian-based clean technology company which develops, makes and sells energy-saving and energy-storage solutions, enabled by graphene manufactured through in-house production process. Graphene Manufacturing uses its own proprietary production process to decompose natural gas (that is, methane) into its natural elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high-quality, low-cost, scalable, tunable and low/no-contaminant graphene suitable for use in clean technology and other applications.

The company's present focus is to derisk and develop commercial scale-up capabilities and secure market applications. In the energy-savings segment, Graphene Manufacturing has initially focused on graphene enhanced heating, ventilation and air conditioning coating (or energy-saving coating), which is being marketed into other applications, including electronic heat sinks, industrial process plants and data centres. Another product Graphene Manufacturing has developed is the graphene lubricant additive focused on saving liquid fuels initially for diesel engines.

In the energy-storage segment, Graphene Manufacturing and the University of Queensland are working collaboratively with financial support from the Australian government to progress R&D and commercialization of graphene aluminum-ion batteries. Graphene Manufacturing has also developed a graphene additive slurry that is aimed to improve the performance of lithium-ion batteries.

Graphene Manufacturing's four critical business objectives are:

1. Produce graphene and improve/scale cell production processes;
2. Build revenue from energy-savings products;
3. Develop next-generation battery;
4. Develop supply chain, partners and project execution capability.

We seek Safe Harbor.