Mr. Craig Nicol reports

GMG PRODUCT COMMERCIALISATION PROCESS, CORPORATE GROWTH & CHANNEL STRATEGY

Graphene Manufacturing Group Ltd. has outlined three important strategies: the company's product commercialization process, organic corporate growth strategy and product distribution channel strategy.

The Company's Product Commercialisation Process (see Figure 1) is to develop the Company's products through four stages, including: (i) developing the initial product concept, (ii) making the product repeatedly and verifying it will meet the target market needs with external testing, (iii) building the capacity to produce and sell the product, including regulatory approvals and organisation, and (iv) building awareness, making and selling the product into the route to markets developed.Figure 1: Product Commercialisation Process.*GMG Graphene Powder is made for use in GMG's products.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/179690_graphene_01_550.jpg

The Company is also pleased to announce Thermal XR is now in the fourth and final stage of commercialisation; building awareness, making and selling the product. G Lubricant is positioned in the second stage as it is currently undergoing product market testing and the Graphene Aluminium Ion Battery (G+AI Battery) is also in the second stage as the battery is currently undergoing product development and optimisation (see Company's news release dated May 29, 2023).

The Company's intended organic Growth Strategy (see Figure 2) is to progress the products through the commercialisation process to be able to grow revenues from making and selling Thermal XR(TM) and G Lubricant whilst developing Energy Storage products (i.e. the Graphene Aluminium Ion Battery). Supporting both will be the continued development and growth of GMG's Graphene production engineering capability.Figure 2: Corporate Growth Strategy.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/179690_graphene_02_550.jpg

Meanwhile, the Company plans to continue developing Energy Storage products with the goal of adding selected partners from different verticals to co-sponsor and accelerate development. Rio Tinto is the first such sponsor, targeting Graphene Aluminium Ion battery for mining haul trucks in the mining and mineral processing sector.

The Company's intended Channel Strategy (see Figure 3) is to sell its Energy Saving products through relevant industry segment distributors in various geographic locations and/or co-branded products for further distribution. The co-branded products allow product co-developers to share in GMG's branded logo and product technology through their existing production, distribution and sales infrastructure. The Company sees this as a way to distribute its product and increase GMG's footprint faster and wider. For larger companies where bespoke or new applications require product development and/or support, direct sale would initially be undertaken.Figure 3: Channel Strategy.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/179690_graphene_03_550.jpg

The Energy Storage products, based on the Graphene Aluminium Ion Battery, will primarily be direct business to business sale (B2B Direct) as new technology battery customers require intensive technical engagement with their battery suppliers to ensure they work effectively in their products.

GMG's 4 critical business objectives remain to:produce Graphene and improve/scale the production process;build revenue from Energy Savings Products;develop Next-Generation Battery; anddevelop supply chain, partnerships and 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"). For further information please contact:Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223 Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041www.graphenemg.com

We seek Safe Harbor.