Mr. Simon Marcotte reports

BLACK SWAN GRAPHENE PROVIDES UPDATE ON RECENT INDUSTRIAL PARK CONCRETE POUR AND HIGHLIGHTS TORONTO'S CARBON EMISSION INITIATIVE FOR NEW BUILDINGS

Black Swan Graphene Inc. has provided an update on the industrial park concrete pour discussed in the company's press release dated May 8, 2023, and is discussing Toronto's recently announced initiative regarding limits on carbon emission for new buildings. Lastly, Black Swan anticipates sharing updates on recent progress achieved in collaboration with key customers actively engaged for polymer applications.

A shipment of product to Nationwide Engineering Research & Development (NERD) was made earlier this month and is being used in a total of 180 tonnes of concrete using Concretene, NERD's graphene-enhanced admixture, for the construction of an industrial park near Redruth, southwest England. This industrial park will offer 14 industrial units ranging from 2,500 and 3,500 square feet, with the graphene-enhanced concrete being used for all external concrete aprons. The pour of 82.5 cubic metres was done with reinforced concrete designed to achieve a compressive strength of 40 to 50 megapascals (MPa) after curing, using the standard CEM1 cementitious mix commonly used in construction.

Toronto's building carbon initiative

In May, 2023, Toronto, the fourth-largest city in North America after Mexico City, New York and Los Angeles, became the first North American jurisdiction to require lower-carbon construction materials, limiting embodied carbon from new municipal building construction. New city-owned buildings must now limit upfront embodied emission intensity (emissions associated with manufacturing, transporting, and constructing major structural and envelope systems) to below 350 kilograms of carbon dioxide equivalent per square metre of construction. For non-city buildings, this requirement is a Tier 2 requirement, meaning optional, in the latest version of the Toronto Green Standard (TGS), but private developers should take note as Tier 2 measures usually transition into Tier 1, meaning they become mandatory requirements, when the next version of the TGS is implemented and the tiers are adjusted accordingly.

Simon Marcotte, president and chief executive officer of Black Swan, commented: "Similar standards initiated in California played a pivotal role in sparking the electric vehicle revolution. With the concrete industry being responsible for more than 8 per cent of global CO2 emissions, it is only a matter of time before similar building codes continue to spread across the globe. This shift necessitates practical solutions which we can provide. Black Swan is part of a recently established fully integrated supply chain, including NERD and ARUP, a multinational engineering consultancy headquartered in London, United Kingdom, with 18,000 experts working across 140 countries, to provide turnkey solutions to the construction industry."

Corporate matter

Black Swan announces the appointment of Deena Siblock as corporate secretary of the company. Mr. Marcotte commented: "One behalf of everyone at the company, I would like to wish a warm welcome to Deena. I had the privilege to work with Deena at Arena Minerals Inc., which was recently acquired by Lithium Americas Corp., and I have seen first-hand her commitment to excellence. She will be a great asset to the company."

About Black Swan Graphene Inc.

Black Swan is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, lithium-ion batteries and others, which are expected to require large volumes of graphene. Black Swan aims to leverage the low-cost and green hydroelectricity of the province of Quebec as well as the proximity of the province's emerging graphite industry in order to establish an integrated supply chain, reduce overall costs and accelerate the deployment of graphene usage. On March 27, 2023, Black Swan, Nationwide Engineering Research and Development and Arup Group Ltd. announced strategic partnerships, establishing a fully integrated supply chain and providing a turnkey solution for the construction and concrete industries. Arup is a multinational engineering consultancy headquartered in London, United Kingdom, with 18,000 experts working across 140 countries. Black Swan's graphene processing technology was developed by Thomas Swan & Co. Ltd. over the past decade. Thomas Swan is a United Kingdom-based global chemicals manufacturer, with a century-long record, and has been at the forefront of graphene innovation.

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