Mr. Craig Nicol reports

GMG SIGNS THERMAL-XR DISTRIBUTOR AGREEMENTS IN 4 ASIAN COUNTRIES

Graphene Manufacturing Group Ltd. has signed distribution agreements with four separate distributors to buy GMG's Thermal-XR and resell in their respective countries in the heating, ventilation, air conditioning and refrigeration (HVAC-R) markets. The distributors are focused on the following geographical markets: Thailand, Singapore, Indonesia and South Korea.

GMG and certain of the Distributors have successfully completed several THERMAL-XR HVAC-R projects in South East Asia to provide case studies that illustrate the product's local benefits and customer value proposition in these countries.

GMG's Managing Director and CEO, Craig Nicol, commented: "We are excited to be signing up our initial distributors in Asia to build revenue in Energy Savings - one of our key objectives for 2023. We look forward to continuing to work with the Distributors - each a valuable partner for the sale of THERMAL-XR going forward."

Guy Outen, GMG's Chair, commented: "I am very pleased to see these first distributor agreements in Asia - they display confidence in the potential benefit of TXR to existing and new customers of our new distributor partners. I commend the GMG team led by Mark Lock the General Manager of Energy Savings and Senior Business Development Manager Arthur Yen for their leadership."

GMG's 4 critical business objectives are:

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

About GMG

GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.

GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.

In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").

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