Mr. Simon Marcotte reports

BLACK SWAN GRAPHENE ANNOUNCES AGM VOTING RESULTS

Black Swan Graphene Inc. has released the voting results from its annual general meeting of shareholders held on Nov. 27, 2023. Shareholders holding 188,634,887 shares or 62.52 per cent of the outstanding shares of the company were represented in person or by proxy at the meeting and voted in favour of all matters brought before the meeting.

The company's shareholders set the number of directors of the company for the ensuing year at seven. All director nominees set out in the management information circular dated Oct. 13, 2023, were elected as directors, to serve until the next meeting of shareholders of the company or until their successors are elected or appointed.

The company's shareholders appointed McGovern Hurley LLP as auditor of the company for the ensuing year at a remuneration to be fixed by the directors.

The company's shareholders also reapproved the company's rolling omnibus equity incentive plan. Pursuant to the omnibus plan, the company is entitled to grant stock options, restricted share units (RSUs), performance share units (PSUs) or deferred share units (DSUs) to eligible persons under the omnibus plan, with the number of common shares issuable thereunder, together with the number of common shares issuable under any other security-based compensation arrangements of the company, not to exceed 10 per cent of the total number of common shares outstanding from time to time. Subject to the terms of the applicable grants and the omnibus plan, the company may, at its discretion, settle RSUs, PSUs or DSUs granted under the omnibus plan in either cash or equity.

Under the policies of the TSX Venture Exchange, the omnibus plan must be approved on an annual basis by an ordinary resolution of the shareholders entitled to vote at such meeting.

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 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. 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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