AGM.L Regulatory News (AGM)

10 October 2017

Applied Graphene Materials plc

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

Preliminary results for the year ended 31 July 2017

Applied Graphene Materials, the producer of specialty graphene materials, is pleased to announce its unaudited preliminary results for the year ended 31 July 2017.

Operational and commercial highlights

· Further production orders achieved for both existing and new applications;

· Significant increase in the number of active engagements to over 100;

· An increasing number of customers moving closer to production, most notably Airbus Space and Defence;

· Advanced testing with James Briggs Ltd ongoing;

· Undertaking a live trial programme with a major paint supplier for the inclusion of graphene into paints for vehicles;

· In excess of 230kg of graphene dispersions supplied to customers in the year, almost double the amount of the previous year;

· Further expansion of our production capacity on a modular basis with the new production line becoming operational;

· Launch of the Structural Ink™ programme in conjunction with the filing of a patent application in relation to the technology;

· Grant of European patent for manufacturing processes in September 2017; and

· Investment to strengthen the team and widening the Company's geographical reach.

Financial overview

· Total income £0.3 million (2016: £0.3 million)

· EBITDA* Loss of £4.0 million (2016: loss of £4.2 million)

· PBTA** Loss of £4.2 million (2016: loss of £4.3 million)

· Loss before tax Loss of £4.3 million (2016: loss of £4.5 million)

· Cash at bank £4.7 million (2016: £7.7 million)

· Diluted EPS Loss of 13.8 pence per share (2016: loss of 22.0 pence)

· Adjusted diluted EPS Loss of 13.6 pence per share (2016: loss of 20.8 pence)

* EBITDA comprises loss before interest, tax, exceptional costs, depreciation and amortisation

** PBTA comprises loss before tax, exceptional costs and amortisation

Fundraise

· Proposed equity fund raising to be launched today to support joint development activity with customers, for the development of the Structural Ink™ programme, to provide ongoing working capital and to fund the scale up of production capacity, as required.

Jon Mabbitt, Chief Executive Officer, commented:

"We have made considerable progress across a range of areas within the business. Demonstrating the modular scale up of our production process, that can produce high quality graphene dispersions of a consistent quality, has been a major achievement. Having secured our first production order in 2016 we have continued to build on this, working closely with our customers and this has resulted in additional production orders.

Achieving these milestones has been key and whilst the timing of production orders will be determined by our customers I am confident that we are well positioned to secure an increasing number of larger commercial contracts."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Applied Graphene Materials' results presentation, with audio commentary, is expected to be made available on its website at http://www.appliedgraphenematerials.com in due course.

For further information, please contact:

Notes to Editors

Applied Graphene Materials works in partnership with its customers using its knowledge and expertise to provide bespoke graphene dispersions and formats to deliver enhancements and benefits for a wide range of applications. The Group's strategy is to target commercial applications in two core markets: coatings, and composites and polymers. 

The Group has developed proprietary bottom-up processes which are capable of producing high purity graphene nanoplatelets using a continuous process. The manufacturing process is based on sustainable, readily available raw materials and therefore does not rely on the supply of graphite, unlike a number of other graphene production techniques. Applied Graphene Materials owns the intellectual property and know-how behind this process.

Applied Graphene Materials was founded by Professor Karl Coleman in 2010 with its operations and processes based on technology that he initially developed at Durham University. The Group was admitted to AIM in November 2013, raising £11 million, and is based at the Wilton Site on Teesside. In January 2016 the Group raised a further £8.5m to support its ongoing activities.

Overview

During the course of the last twelve months Applied Graphene Materials ("AGM") has continued to invest in its technical capabilities and commercial offering leaving it ideally positioned to support the growth in expected graphene product demand. Throughout this period we have stayed resolutely committed to our strategy of being a graphene producer and a formatted material supplier. We are confident that ultimately shareholder value will be delivered by being a high value-added specialty chemical business. We have therefore focused on providing ever-more compelling data and evidence that demonstrates the potential benefits that our graphene can deliver. We have continued to market this information on a global basis, specifically targeting exhibitions, conferences and media literature in our core market sectors of coatings and composites, as we look to demonstrate and develop opportunities. This approach is beginning to provide tangible returns as we are being recognised by our customer base as the go-to graphene company as evidenced by both the volume of customer engagements and enquiries within the last year.

In August 2017 we invited institutional investors to an open day at Wilton and demonstrated our manufacturing and technology capability. The event was concluded with a presentation by one of our customers, SHD Composites Limited ("SHD"), explaining its successes to date in using our graphene, why it believes graphene will be adopted further, and specifically why it chose to work with AGM in preference to other potential graphene providers.

Throughout the year we have maintained our approach of working closely with potential customers to provide technical support to help incorporate graphene into their host materials in order to deliver desired property enhancements. This has served us well as we look to develop commercial opportunities. Nowhere is this more evident than in the support that has been provided to SHD, which resulted in the launch of a graphene enhanced product for the composite market in spring 2017.

Commercial progress

We are currently actively engaged with more than 100 customers within our core target market sectors. These are at a range of maturities, but all are live and we believe offer the potential to lead to product applications in the foreseeable future. Two of these have already resulted in final products that are routinely sold by our customers. A third, with Airbus Space and Defence, is in the final stages of commercial negotiation and is expected to be in use on satellites early in 2018. The remainder form an ever-maturing pipeline, some of which are expected to bring more production demand during the current financial year and beyond. It has been absolutely pivotal for us to get beyond first production orders. This, along with our detailed technical support, has given us the gravitas to be recognised as a credible supplier to our international client base.

We first announced in 2016 that Century Composites had launched a range of carp fishing rods that incorporated graphene into the composite structures. Since then it has continued to purchase material for not only the original range of rods, but have also extended its use on other rods in its range and utilised graphene on other tubular products that are not fishing rod related.

In March 2017, SHD launched a range of graphene containing prepreg materials (carbon fibre intermediate products) at the JEC show in Paris. It has subsequently sold this product range for applications as varied as automotive components and artificial limbs as well as a variety of sports goods, and interest continues to grow. Encouraged by its success with the initial prepreg systems SHD has now progressed to developing other materials containing our graphene that are targeted at other specific composite applications. We have received a number of orders from SHD and although these are currently relatively modest, we do expect them to grow in size as customer demand for its graphene-enhanced products expands.

Following a direct approach we have successfully developed a lightweight adhesive for Airbus Space and Defence and this is in the final stages of approval for use in satellites. Without stating exactly the merits of the product, due to customer confidentiality, it is multifunctional in nature. As with all aerospace qualifications, the approval process is appropriately complex, and to date we are delighted that Airbus has found us to have the requisite rigour and robustness in our processes. We anticipate that this specific product will subsequently be made available for sale to other customers for both aerospace and other non-aerospace applications.

The majority of the commercial engagements in our pipeline are centred around our core market sectors of coatings and composites. In addition, we continue to work alongside a number of partners in niche areas where both our partners and AGM see specific opportunities where graphene could deliver property enhancements. In the coatings sector these are all focused on the benefits graphene brings to barrier protection for corrosion prevention and/or where graphene provides electrostatic dissipation. Customers in this sector vary from multinational corporations to small independent niche players. The recruitment of industry specialists during the year has provided us with some real momentum in this area and we are now experiencing increasing engagement at many levels. In the composites sector our commercial engagements are focused on applications where graphene is primarily adding mechanical property benefits. Based on their positive first-hand experience of working with AGM's graphene, and data generated by AGM, customers are committing their own resources to investigate the incorporation of graphene into their own products. The unique combination of properties at a nano-particulate level that graphene offers is leading us increasingly to look to exploit these characteristics in combination and we are encouraged that we can unlock potential around other bulk characteristics. The ability to demonstrate multiple benefits is something that customers often find highly attractive and so our technical personnel are exploring areas where we are seeing particular interest, specifically related to higher electrical conductivity, flame retardancy and thermal conductivity. Data generated around these characteristics will potentially lead us to new commercial engagements in additional market sectors.

In May 2017, we launched our Structural Ink™ technology, which is focused on the composites sector and enables graphene to be deposited on a structure in a targeted manner. The method for delivering this combines existing 2D industrial inkjet printing with AGM graphene ink formulations. This is attractive to composite designers and manufacturers because they can target specific areas where graphene's mechanical toughness enhancement properties will bring the most benefit to the end product. This could be in areas where there are known weak points such as joints, edges and ply drop-offs. Specifiers can adopt the approach directly into their structures without being dependent upon a material supply chain and can tailor for their own specific purposes. For AGM this similarly means that we have a direct route to market to the end-user specifiers rather than being dependent on intermediate material companies to adopt and pull through the technology. To this end, we have already engaged with the Advanced Manufacturing Research Centre ("AMRC") in Sheffield to establish a demonstration facility for interested parties. The intention is for AGM to sell a turn-key deposition package to its customers, with ongoing revenues from its formulated inks.

In September 2017, following an initial stage of controlled environment testing of graphene based coatings which produced some extremely positive results in barrier protection, HMG Paints and AGM commenced real world product trials. Ongoing tests are focusing on the application of graphene based coatings in both the commercial vehicle and construction equipment markets, in partnership with a leading UK bespoke commercial vehicle body builder. The primer layer and top-coat were successfully applied using standard spray-painting equipment in the routine manner and vehicles are currently on the road for testing purposes.

In addition, the development programme for the potential application of graphene to paint and lubricant products continues to progress with James Briggs Ltd. Initial findings on performance improvement were encouraging, though timings have been longer than originally forecast. Additional tests are underway that, by their nature, require a number of weeks to complete. This includes testing the barrier properties of a primer paint product through salt spray testing over several hundred hours, and inter-coat adhesion testing with various popular branded refinish paints. In parallel, James Briggs Ltd has experienced strong sales pipeline growth in the first half of 2017 with a number of opportunities having short-term deadlines which, of necessity, has meant that technical resource has had to be focused on those immediate profit-generating projects. We expect a clearer picture on the route forward during the final quarter of 2017.

As the vast majority of our customer engagements are covered by strict confidentiality it is not possible to share all of the application details and stages of progress, and indeed much of this information is commercially sensitive in nature. We look to track the overall status of our commercial developments via an opportunity pipeline maturity chart. This segregates the individual customer engagements into three categories of short, medium and long term approval (i.e. about 1year, 1-3 years and over 3 years) and specifies the stage we are at with each account. As we move into the forthcoming financial year I expect a greater proportion of opportunities to move towards the final stages of this pipeline as they reach maturity. Levels of interest in our product continue and, as such, attracting new opportunities and customer engagement remains high. Our current focus remains on converting our significant existing pipeline into commercial orders.

Underpinning technology and manufacturing capacity

Whilst it would be more simple for everyone to understand graphene as a single product that has a defined set of properties that can translate from small scale to large scale, that is not the reality. When producing graphene nanoplatelets one thing is clear - not all graphene is equal in properties. The method and conditions of manufacture have a significant influence on the resultant properties exhibited. It is therefore essential to be able to tailor the product to optimise the augmentation of properties for specific applications and to produce graphene of consistent quality. The Group owns the intellectual property for its proprietary production processes which are subject to existing patents and patent applications, the latest being granted in September 2017 for Europe. Using these processes, AGM has the ability to design nanoplatelets to suit specific customer applications through its two manufacturing processes. We have robust control systems in place to ensure quality and consistency and we have the proven ability to be able to scale up the processes without affecting product output.

We have engineered a solution to be able to cost-effectively scale-up our graphene nano-platelet production in a modular manner. This gives us much greater flexibility to match capacity to demand in a timely fashion. This capacity incudes the capability to disperse the graphene powder into the customer's host material at the concentration levels required.

Understanding the mechanisms of property translation from nanoplatelets to bulk properties is essential to be able to optimally influence the enhancements that can be achieved in end products. Transferring the benefits of graphene is challenging and having the know-how and expertise to format and incorporate graphene into the host material is absolutely critical. AGM continues to develop this knowledge base to benefit all of our commercial partners.

Outlook

The momentum achieved within the previous twelve months, both in terms of number of collaborations and overall progress as customers evolve from sampling towards production, provides the Board with confidence in our strategic approach. During the next year the aim is to continue to build on these foundations with ever greater momentum as an increasing number of customers move onto a full production basis. The clear objective is for the Company to become profitable, although forecasting the precise timing is difficult as it is dependent largely on the rate of adoption by customers. We will continue to build ever closer relationships with our customers wherever possible and continue to supply formatted graphene as we believe this approach provides the greatest opportunity to streamline the move towards full production with the minimum amount of disruption to the customers' existing processes.

The combination of the potential graphene has to offer, the team we have in place and our strategic approach gives us confidence for the future.

Jon Mabbitt

Chief Executive Officer

10 October 2017

Revenue

Revenue for the year was £97,000 (2016: £75,000) arising from the supply of production orders and evaluation quantities of graphene to commercial partners.

Other income

Other income, which comprises grant income and RDEC revenue, was £168,000 (2016: £177,000). Grants received generally relate to funding for the development of new graphene applications, the creation of new jobs or the purchase of assets.

Loss on ordinary activities before interest, tax, exceptional costs, depreciation and amortisation (EBITDA)

EBITDA for the Group reduced from a loss of £4,155,000 in 2016 to a loss of £4,027,000 for the year ended 31 July 2017. The loss incurred reflects the ongoing costs of working with commercial partners and the significant efforts undertaken to support those customers.

Exceptional costs

Exceptional costs recognised in the year were £32,000 (2016: £250,000). These costs principally relate to payments made as compensation for loss of office. Prior year costs principally relate to fees paid in relation to the issue of new shares in the current year and payments made as compensation for loss of office.

Net finance income

Net finance income for the year was £33,000 (2016: £55,000). The reduction in net finance income arises from there being a lower cash balance and receiving lower interest rates on cash deposits during the year.

Loss on ordinary activities before tax, exceptional costs and amortisation (PBTA)

PBTA for the year reduced from a loss of £4,269,000 in 2016 to a loss of £4,245,000 for the year ended 31 July 2017. The losses within the year continue to reflect ongoing costs of working with commercial partners and the significant efforts undertaken to support those customers.

Loss on ordinary activities before tax

A loss on ordinary activities before tax of £4,277,000 (2016: loss of £4,519,000) was recognised. This includes exceptional costs of £32,000 mainly connected to payments made as compensation for loss of office.

Tax

The Group has not recognised any tax assets in respect of trading losses arising in the current financial year or accumulated losses in previous financial years. The tax credit recognised in the current and previous financial years arises from the receipt of R&D tax credits.

Earnings per share

Diluted earnings per share was a loss of 13.8 pence per share (2016: loss of 22.0 pence per share). Adjusted diluted earnings per share (before exceptional costs) was a loss of 13.6 pence per share (2016: loss of 20.8 pence per share).

Dividend

No dividend has been proposed for the year ended 31 July 2017 (2016: £nil).

Cash flow

Net cash used in operations was £3,962,000 (2016: £4,184,000). During the year, net working capital utilised increased by £95,000 (2016: increase of £14,000). The reduction in net cash used in operations principally reflects the reduction in operating losses during the year.

Capital expenditure of £684,000 (2016: £990,000) has been incurred in the year mainly relating to the development of the production process and related production assets. Net proceeds arising from the issue of shares totalled £407,000 (2016: £8,031,000).

Balance sheet

Net assets have reduced to £6,068,000 (2016: £8,512,000), principally reflecting the trading loss for the year, offset by R&D tax credits.

Cash at bank at 31 July 2017 was £4,708,000 (2016: £7,702,000). The proceeds from the issue of shares have been placed on deposit with a small number of financial institutions for time periods ranging between instant access and up to one year in maturity.

Accounting policies

The Group's consolidated financial information has been prepared in accordance with International Financial Reporting Standards as adopted in the EU. The accounting policies used in the consolidated financial information are consistent with those set out in the audited financial statements.

Going concern

The Company is proposing to raise equity funds via a placing and open offer. After making enquiries and producing cash flow forecasts and considering the additional funding expected from the pending share issue, the Directors have reasonable expectations, that the Company and the Group will have adequate resources to fund the activities of the Company and the Group for at least twelve months. Therefore, the preliminary financial statements have been prepared on a going concern basis.

Principal risks and uncertainties

Risk management forms an integral part of the business planning and review cycle.

The Directors believe the following risks to be the most significant for potential investors. However, the risks listed do not necessarily comprise all of those associated with an investment in the Group and are not set out in any particular order or priority. Additional risks and uncertainties not currently known to the Directors, or which the Directors currently deem not to be significant, may also have an adverse effect on the Group and the information set out below does not purport to be an exhaustive summary of the risks affecting the Group. In particular, the Group's performance may be affected by changes in market or economic conditions and in legal, regulatory and tax requirements.

Broadly, risks are categorised into seven types: strategic and planning; financial and IT; operational and quality; technical; safety, health and environment (SHE) and regulatory; commercial and reputation; and people. Significant risks facing the Group include:

· Acceptance of the Group's products - early stage of operations and acceptance of graphene. The Group is at an early stage of development and the success of the Group will depend on the acceptance and attribution of value to graphene produced by the business. Timescales to the successful development of applications for graphene are significantly determined by the product development cycle of customers. There can be no guarantee that either the acceptance of graphene or attribution of value will be forthcoming.

· Intellectual property - the Group's business is based on a combination of patents granted, patent applications and know-how. The Group's success will depend in part on its ability to maintain adequate protection of its intellectual property and know-how. There is no certainty that patent applications will be granted, such applications and know-how will be a source of competitive advantage to the Group, or that others have not developed similar or better applications or know-how. Significant costs may be incurred in asserting intellectual property rights and there is no certainty that intellectual property could not become known in a manner (for example, cyber attack) which provides the Group with no recourse.

· Adequacy of financial resources - the available funding required to support the business through to profitability and cash generation may be insufficient. Currently, it is expected that additional capital will be required in future to fund the business. The Group may be unable to access additional debt or equity capital, or to raise funds on acceptable terms. In the event that the resources available to the Group are inadequate then this could have a materially adverse impact on the implementation of the Group's strategy, its business, financial condition and operations.

· Financial, operational and management information systems - the efficient operation and management of the Group depends on the proper operation and performance of financial, operational and management information systems. Any failure in such systems via a cyber attack may result in a loss of control and adversely impact the Group's ability to operate effectively.

· Safety, health and environment - the Group's operations are subject to numerous safety, health and environmental and regulatory requirements, both in the UK and overseas, which are likely to become more complicated, stringent and onerous as the Group grows or as time passes. Failure to comply in any way with SHE or regulatory requirements could result in the Group being unable to manufacture or supply graphene, incurring significant costs and liabilities, or being subject to claims and lawsuits which could adversely affect its operations and financial condition. Graphene is also a relatively new material with a limited number of studies having been undertaken into its effects on biological systems. If evidence emerges that graphene has a deleterious effect then this may adversely impact the Group's business and financial position.

· Key personnel - the Group has in place an experienced and motivated senior management team and is beginning to build strength in depth. If the Group is unable to retain and attract suitably skilled and qualified people, then the Group's performance and prospects may be adversely impacted. The loss of one or more key personnel could have an adverse impact on the Group's operations, reputation, relationships and future prospects.

Cautionary statementThe Business and Financial reviews have been prepared for the shareholders of the Company, as a body, and no other persons. Their purpose is to assist shareholders of the Company to assess the strategies adopted by the Group and the potential for those strategies to succeed and for no other purpose. The Business and Financial reviews, contain forward-looking statements that are subject to risk factors associated with, amongst other things, the economic and business circumstances occurring from time to time in the sectors and markets in which the Group operates. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a wide range of variables which could cause actual results to differ materially from those currently anticipated. No assurances can be given that the forward-looking statements in the Business and Financial reviews will be realised. The forward-looking statements reflect the knowledge and information available at the date of preparation.

Gareth Jones

Chief Financial Officer

10 October 2017

EBITDA comprises loss before interest, tax, exceptional costs, depreciation and amortisation

PBTA comprises loss before tax, exceptional costs and amortisation

1 General information

The principal activity of Applied Graphene Materials plc is the manufacture, dispersion and development of applications for graphene. The Group operates principally in the United Kingdom.

The Company is incorporated and domiciled in the United Kingdom and its registered number is 8708426. The address of the registered office is The Wilton Centre, Redcar, Cleveland, TS10 4RF. The Company was incorporated on 27 September 2013.

2 Basis of accounting

The consolidated financial information for the year ended 31 July 2017 has been presented under the historical cost accounting convention, as modified by financial assets and liabilities at fair value through the income statement and share based payments at fair value, and in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, IFRS IC interpretations and those parts of the Companies Act 2006 applicable to companies reporting under IFRS. The consolidated financial information has been prepared on a going concern basis.

The consolidated financial information included in this announcement has been extracted from the financial statements of the Group for the year ended 31 July 2017. The content of this announcement has been agreed with the Company's auditors. This announcement of financial results does not constitute the Group's financial statements. Statutory accounts for 2016 have been delivered to the Registrar of Companies and those for the financial year ended 31 July 2017 will be delivered following the Company's annual general meeting.

The accounting policies used in the consolidated financial information are consistent with those set out in the audited financial statements. If any new IFRS standards or interpretations are issued then these may impact on the financial statements of the Group in future years. The Group will continue to review its accounting policies in the light of emerging industry consensus on the practical application of IFRS.

The preparation of consolidated financial information in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management's best knowledge of the amounts, events or actions, actual events ultimately may differ from those estimates.

The consolidated financial information does not include all financial risk management information and disclosures required in the annual financial statements.

3 Taxation

The Group has not recognised any tax assets in respect of trading losses arising in either the current financial year or accumulated losses in previous financial years. The tax credits recognised arise from the receipt of R&D tax credits.

4 Dividends

No dividend has been proposed for the year ended 31 July 2017 (2016: £nil).

5 Segmental analysis

The Group currently has one operating segment. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker (CODM) in deciding how to allocate resources and in assessing performance. The Group's Chief Executive Officer has been identified as the CODM. Revenue and profits arising from that operating segment are the same as presented on the face of the consolidated income statement and statement of comprehensive income.

6 Earnings per share

Basic earnings per share is calculated by dividing the earnings attributable to Ordinary shareholders by the weighted average number of shares in issue during each year. The weighted average number of shares in issue during the year used in the calculation of basic earnings per share was as follows:

Diluted earnings per share is the basic earnings per share adjusted for the effect of the conversion into fully paid shares of the weighted average number of share options outstanding during the year. The weighted average number of shares in issue during the year used in the calculation of diluted earnings per share was as follows:

Adjusted earnings per share has been calculated so as to exclude the effect of exceptional costs including related tax charges and credits. Adjusted earnings used in the calculation of basic and diluted earnings per share reconciles to basic earnings as follows:

The Group was loss making for the years ended 31 July 2017 and 31 July 2016. Therefore, the dilutive effect of share options has not been taken account of in the calculation of diluted earnings per share or adjusted diluted earnings per share, since this would decrease the loss per share for each of the years reported.

7 Notes to the cash flow statement

8 Share capital

On 8 January 2016, 4,858,335 Ordinary shares of 2 pence each were issued at a price of £1.75 per share to institutional and other investors.

On 18 August 2016, 166,204 Ordinary shares of 2 pence each were issued at a price of £0.583 per share to Oliver Lightowlers following the exercise of EMI share options granted on 21 October 2013.

On 4 November 2016, 83,102 Ordinary shares of 2 pence each were issued at a price of £0.583 per share to Oliver Lightowlers following the exercise of EMI share options granted on 21 October 2013.

On 26 May 2017, 168,906 Ordinary shares of 2 pence each were issued at a price of £1.55 per share following the exercise of warrants.

9 Related party transactions

Transactions between Applied Graphene Materials plc and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note.

Transactions with shareholders

The following transactions with shareholders and companies controlled by former Directors of the Group were recorded, excluding VAT, during the year:

The following balances were outstanding at the end of the year in respect of the transactions set out above:

Remuneration of key management personnel

The remuneration of the Directors and the key management personnel of the Group is set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures:

Remuneration of key management includes remuneration paid by subsidiary undertakings in the current and prior financial years.

10 Seasonality

The Group experiences no material variations in performance arising due to seasonality.

11 Availability of Annual Report

It is anticipated that the Annual Report will be sent to all shareholders on 20 November 2017. Electronic copies of the report will also be available on Applied Graphene Materials' website at www.appliedgraphenematerials.com.

12 Annual General Meeting

The 2017 Annual General Meeting is to be held at The Farndale Room, The Wilton Centre, Redcar, Cleveland, TS10 4RF on 19 December 2017 at 11.00am.