Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide an update to the composition of the Company's leadership team and Technical Advisory Committee which will support the Company as it proceeds into its next phase of development.

Additionally, the Company announces that after nearly six years with GMG, Chris Ohlrich, CFO and Director has decided to leave the Company for personal reasons, since relocating to Melbourne with his family. The current Financial Controller for the Company, Deborah Appleton, will act as the interim CFO until the Company completes a comprehensive executive search for his replacement which is being carried out by executive search firm Russell Reynolds Associates.

As the Company enters its next phase of development, GMG believes there are significant business opportunities related to GMG's targeted 'energy saving' and 'energy storage' solutions, which continue to provide strong encouragement for the Company to invest resources to drive sales from its energy saving business and support the continued maturation of its graphene-Aluminium Ion battery technology.

With this focus in mind, the Company is pleased to announce the establishment of a knowledgeable, internationally experienced, Technical Advisory Committee which will include the following members who will add deep insight, experience and connections to GMG:

• Bob Galyen (USA) - Bob is a highly experienced executive in the battery energy storage world and science/engineering-based communities. Bob was previously the Chief Technology Officer (CTO) of Contemporary Amperex Technology Company Limited (CATL). CATL is widely known as the largest lithium ion battery manufacturer in the world - supplying electric vehicles and high efficiency storage systems. He serves on multiple Committees of Directors and Technical Advisory Boards.

• Professor Dan Brett (UK) - Dan is Professor of Electrochemical Engineering at the University College London (UCL), a top ranked University, where he is a director of the Electrochemical Innovation Lab (EIL) and Advanced Propulsion Lab (APL). He is an academic founder of the Faraday Institution (a UK battery research programme with a consortium of over 20 UK universities and 50 businesses - including 450 researchers) and member of its Expert Panel.

Underpinning the Company's efforts to further strengthen its management team, GMG is excited to announce several recent new management team appointments, including:

• Mark Chan Yan as Battery General Manager. Mark has significant international experience with global technology companies including Yokogawa and ABB having held General Management roles in Sales and Technical leadership, driving the commercialisation of prototypes or concepts into products and solutions at scale. Mark has a Bachelor of Science (Electrical & Electronic Engineering) from the University of Cape Town (UCT) in South Africa. Mark will lead our Battery division going forward.

• Mark Lock as Energy Saving Solutions General Manager, Mark has deep experience in industrial equipment sales and service solutions working in sales and technical leadership roles for companies including Komatsu, Brambles, Coates Hire, Onsite Rental Group and Aurizon. Most recently for Waco Australasia - a company servicing mining and heavy industry with specialist access, protective coatings and maintenance solutions. Mark will lead our Energy Savings Solutions business going forward.

• Jeffrey Morris as Chief Technology and Projects Officer, Jeff has over 25 years of experience in engineering and project management. Jeff has worked in the oil and gas, mining, water treatment, and renewable energy industries including for such companies as Caltex, Origin Energy, BHP and Shell owned QGC. Jeff specialises in design, construction, commissioning, energy management, and business development. Jeff has completed studies of a Master's Degree in Executive Business at Queensland University of Technology, Diploma of Project Management at University of New England, and Bachelor of Chemical Engineering at University of Queensland. Jeff will lead our technology and projects team going forward.

• Tim Scheiwe as Head of Marketing, Tim has near 20 years of experience in industrial B2B marketing, product management and sales experience in selling industrial chemicals such as hydrocarbons, ethanol, surfactants and heat transfer fluids for such companies as Orica and Recochem to a variety of industry and applications. Tim has completed a Bachelor of Commerce at Griffith University and a Master of Business Administration with a Dean's Academic Honour Board Recipient from the University of Queensland.

• Anjana Reddy as General Manager Business Services, Anj has broad legal, commercial and HR experience, including senior Commercial roles for Coca-Cola Amatil, Queensland Government owned Electricity Generator Stanwell and Middle East construction JV Habtoor Leighton Group. Most recently with IOR Petroleum as Manager Commercial and Contracts. Anj has a Bachelor of Science and Law with First Class Honours from James Cook University, a Masters in Commercial and Contracts Law from University of Melbourne, a Masters of Business Administration from University of Queensland, Principles of International Law from Harvard Extension School and is a qualified General Practitioner.

Chris Ohlrich has been instrumental in the establishment of GMG. Under Chris' financial leadership GMG recently reported approximately AU$14 million in cash on its balance sheet, strong and effective shareholder relationships, a robust network within North American capital markets, and an effective finance and reporting team that has successfully lodged inaugural public Annual Financial Statements and ongoing quarterly disclosures. The Company understands and supports Chris' desire to be based with his family in Melbourne and thus resignation as CFO and Director as at 3^rd June, 2022. The Board and Company thank him and wish him and his family every success in the future.

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, 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 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.

Cautionary Note Regarding Forward-Looking Statements

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 relation to the business opportunities that exist in relation to the Company's energy saving and energy storage offerings, and the affect of new appointments to the management team and advisory board on the development of the Company.

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 uncertain demand for the Company's products, the effectiveness of Company's deployment of resources, and the failure of GMG to attract and retain skilled personnel.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the deployment of the Company's resources and personnel and the accuracy of the Company's expectations in the energy saving and storage space.

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.