THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

8 July 2022

Applied Graphene Materials plc

("Applied Graphene Materials", "the Group" or "the Company")

Update

The Company provides the following update.

The Company disclosed in its Annual Report and Accounts for the year ended 31 July 2021 that the Company has a cash runway beyond 31 January 2023.

In order to raise general awareness of the Company across the investment community ahead of any future equity raise, the Company has appointed Weild & Co acting via its representative Crestmont LLP. The purpose of Crestmont's appointment is to introduce the Company to new potential investors in non-UK jurisdictions but in particular focusing on the USA.

The Company appointed Weild & Co to effect these introductions on a general and non-deal specific basis with the process ongoing. The Board has been made aware that, as part of this non-deal process and without the Company's authority or instruction, disclosure has been made to certain of the third parties approached that the Company has engaged Crestmont in relation to an equity raise of up to $10 million.

In order to fund the Company's operations and continued development of the business beyond 31 January 2023, the Board confirms its intention to investigate a possible fundraise, quantum and timing to be determined but likely to be over the coming months.

The Company will make further announcements as appropriate.

For further information, please contact:

Applied Graphene Materials  +44 (0) 1642 438 214

Adrian Potts, Chief Executive Officer

David Blain, Chief Financial Officer

Singer Capital Markets   +44 (0) 207 496 3000

Peter Steel / Amanda Gray

Allenby Capital Limited  +44 (0) 203 328 5656

Nick Athanas / Liz Kirchner (Corporate Finance)

Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)

Hudson Sandler  +44 (0) 207 796 4133

Nick Lyon / Emily Dillon

Notes to Editors

Applied Graphene Materials  - For the last decade, AGM has been at the forefront of harnessing the possibilities of graphene. Founded originally by Professor Karl Coleman, the Group has grown from an academic idea from Durham University to a world leader in the development and application of graphene nanoplatelet dispersions for customers in the coatings, composites and functional materials sectors.

The Group utilises its proprietary bottom-up manufacturing process to produce high purity graphene nanoplatelets. Its expertise in dispersion chemistry enables AGM to create optimised, stable and easy to handle dispersions that customers use in real-world industrial products. AGM's unique approach enables industries to fully realise the potential of graphene in a simple, safe and easy to formulate way. 

AGM, based at the Wilton Centre on Teesside, was admitted to AIM in November 2013, raising £11 million. The Group successfully raised £8.5m in January 2016, £9.8m in November 2017 and a further £6m gross in January 2021. The Group's shares are also cross-traded on OTCQX in the United States. As a result of the funding support and its industry leading technology platform, AGM has been able to develop a significant sales distribution network covering Europe, North America and Asia. The Group continues to work closely with industrial partners, and has seen the successful launch of numerous commercial products enhanced by its Graphene Dispersions.

https://www.appliedgraphenematerials.com/