Brisbane, Queensland, Australia--(Newsfile Corp. - February 20, 2024) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to announce that it has successfully passed the ISO 9001:2015 audit and is now certified to be in compliance with this internationally recognised standard for quality management systems. This achievement underscores GMG's commitment to providing its customers with the highest quality products and services, while continuously improving its internal processes.

The ISO 9001 certification process involved a rigorous assessment of GMG's quality management system, covering all aspects of its operations, from customer service to production, delivery, and technical support. The successful audit demonstrates that GMG's system meets the stringent requirements of the ISO 9001 standard that are designed to ensure consistent quality and customer satisfaction.

The benefits of ISO 9001 certification for GMG include:

• Enhanced customer satisfaction through improved product and service quality.
• Increased efficiency and productivity through optimised processes.
• Reduced costs through minimised errors and waste.
• Improved decision-making through data-driven insights.

GMG is committed to maintaining its ISO 9001 certification and continuously improving its quality management system. The Company plans to conduct regular internal audits and reviews to ensure that its system remains effective and aligned with the latest standards.

GMG's Managing Director and CEO, Craig Nicol, commented: "We are extremely proud to achieve ISO 9001 certification. This certification is a testament to our dedication to quality and continuous improvement. We are confident that this will further strengthen our relationships with our customers and partners and open more opportunities."

Additionally, the Company would like to clarify the terms of an investor relations agreement with Focus Communications Investor Relations Inc., a company existing under the laws of Ontario ("Focus"), dated July 1, 2023 (the "Focus Agreement"), previously detailed in the News Release dated July 18, 2023.

Pursuant to the Focus Agreement, Focus will provide investor relations services to GMG for a three-year term, subject to early termination in certain events. The options previously detailed in the July 18, 2023, News Release will vest and become exercisable over a 12-month period and have a term of 3 years.

RSU and Options Grants

The Company is also pleased to announce that following the annual external remuneration review, its Board of Directors have approved the grant of an aggregate of 685,530 Restricted Share Units ("RSU's") and 1,400,000 Share Options ("Options") to certain officers and directors of the Company pursuant to its Restricted Share and Performance Share Plan and the Stock Option Plan. The RSU's and Options will vest in accordance with the following schedules.

When vested, each RSU entitles the holder thereof to receive one Share or the equivalent cash value thereof.

About GMG

GMG is a disruptive Australian-based clean-tech company listed on the TSXV (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets. The Company is pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lubricant oil and performance enhanced HVAC-R coating system.

GMG's 4 critical business objectives are to:

1. Produce Graphene and improve/scale cell production processes.
2. Build Revenue from Energy Savings Products.
3. Develop a Next-Generation Battery.
4. Develop its Supply Chain, Partners & Project Execution Capability.

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, 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) 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 regarding the ISO 9001 standard underscoring GMG's commitment to providing quality products and services and continued improvement, that the Company will continuously improve its internal processes, the benefits stemming from the ISO 9001 certification, and that the Company will conduct regular internal audits and reviews to ensure that its systems remain effective and aligned with the latest standards.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the significance of the Company obtaining its ISO 9001 certification, that the Company will be able to continuously improve its internal processes, that the Company will derive the expected benefits from the ISO 9001 certification as currently expected by management, that the Company will conduct regular internal audits and reviews to ensure that its systems remain effective and aligned with the latest standards, and that the ISO 9001 certification will further strengthen the Company's relationships with its customers and partners and open more opportunities. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will be unable to continuously improve its internal processes, that the Company will not derive the benefits management expects from the ISO 9001 certification, that the Company will not conduct regular internal audits and reviews to ensure that its systems remain effective and aligned with the latest standards, that the ISO 9001 certification will not strengthen the Company's relationships with its customers and partners and open more opportunities, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 12, 2023 available for review on the Company's profile at .

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.