Brisbane, Australia–(Newsfile Corp. – August 6, 2024) – Graphene Manufacturing Group (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that it has entered into a service agreement with Proactive Investors North America Inc. ("Proactive"), a company existing under the federal laws of Canada and an arm's length party to the Company, dated August 3, 2024 (the "Proactive Agreement") to increase the Company's investor relations outreach. Pursuant to the Proactive Agreement, Proactive will provide media services, including research reports and analyst videos, to GMG for a twelve-month term, unless earlier terminated in accordance with the terms of the Proactive Agreement. The Company will pay Proactive a fee of US$25,000 in consideration for such services.

Proactive's place of business is 300 Vesey Street, 12th Floor, New York New York 10282 United States. Proactive does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. The Proactive Agreement remains subject to the approval of the TSX Venture Exchange (the "TSXV").

The Company also announces that it will be continuing its investor relations agreement with Focus Communications Investor Relations Inc. ("Focus"), a company existing under the laws of Ontario, dated July 1, 2023 which will continue for a further two years until July 1, 2026. For further details regarding the arrangement with Focus, please refer to the Company's news releases dated July 18, 2023 and February 19, 2024.

The Company further announces that it will be continuing its issuer trading services agreement with Independent Trading Group ("ITG"), a company existing under the laws of Ontario, dated June 1, 2023. The ITG Agreement automatically renews for one-month terms unless terminated by the parties. For further details regarding the arrangement with ITG, please refer to the Company's news release dated July 18, 2023.

About GMG      www.graphenemg.com

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, low cost, 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 coating), 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").

GMG's 4 critical business objectives are:

Produce Graphene and improve/scale cell production processes

Build Revenue from Energy Savings Products

Develop Next-Generation Battery

Develop Supply Chain, Partners & Project Execution Capability

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, leo@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) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements regarding the expected services to be provided to the Company pursuant to the investor relations agreements described in this news release (the "IR Agreements") and approval of the Proactive Agreement by the TSXV.

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 services provided pursuant to the IR Agreements differing from management's current expectations and the risk that the TSXV may not approve the Proactive Agreement.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the services provided pursuant to the IR Agreements, and the potential benefits provided to the Company by entering into the IR Agreements.

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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