Mr. Craig Nicol reports

GRAPHENE MANUFACTURING GROUP SECURES AU$2 MILLION FUNDING GRANT FROM QUEENSLAND GOVERNMENT FOR BATTERY PILOT PLANT

Graphene Manufacturing Group Ltd. has signed a Queensland critical minerals and battery technology fund agreement with the state government of Queensland for a grant of $2-million (Australian) toward the funding of Graphene's proposed automated battery pilot plant for the manufacture of Graphene's graphene aluminium ion battery.

The state government of Queensland established the Queensland Critical Minerals and Battery Technology Fund to support Australian business to compete globally by enhancing the extraction and processing of critical minerals in Queensland, accelerating the development of battery technologies and production of precursor or advanced materials in Queensland and supporting Queensland jobs and economic growth.

The grant is for the payment of 50 per cent of the capital cost of Graphene Manufacturing's proposed automated battery pilot plant, up to a maximum of $2-million (Australian), for the manufacture of Graphene Manufacturing's graphene aluminium ion battery. The pilot plant would be constructed at Graphene Manufacturing Richland's existing manufacturing facility and the grant is conditional on various preconditions including Graphene Manufacturing taking a final investment decision in the battery pilot plant project.

Graphene Manufacturing's chief executive officer, Craig Nicol, stated: "We want to thank the Queensland government and acknowledge its commitment to supporting the critical mineral and battery manufacturing industry in the state. This is great recognition for GMG and GMG's next-generation graphene aluminium ion battery and further shows the progress of the battery's development. We are very excited about this next phase of its maturation."

Graphene Manufacturing's chairman and non-executive director, Jack Perkowski, commented: "This represents further progress for the company and I congratulate GMG on its success in securing this grant. I also would like to thank the Queensland government for recognizing and supporting GMG in this phase of its battery's development."

Queensland Government Deputy Premier, Treasurer and Minister for Trade and Investment Cameron Dick said:

"The Miles Labor government is propelling Queensland through an energy transformation that will create jobs.

"I am so pleased that this new plant will create 12 good-quality jobs. Projects like this are helping set the path in creating thousands of secure jobs for Queenslanders while providing the clean, reliable and affordable energy every household and business needs.

"The $100-million Queensland Critical Minerals and Battery Technology Fund is playing its part by supporting businesses across the supply chain like Redflow, Revolver Resources and now GMG.

"GMG's innovative use of graphene, in partnership with UQ, is another example of our homegrown ingenuity that we will continue fostering here in Queensland.

"Their graphene aluminium-ion batteries could prove to be a real game-changer on the world market and elevate Queensland's local battery industry to the next level."

About Graphene Manufacturing Group Ltd.

Graphene Manufacturing 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.

We seek Safe Harbor.