Mr. Craig Nicol reports

GMG ANNOUNCES NEW CHIEF FINANCIAL AND COMMERCIAL OFFICER

Graphene Manufacturing Group Ltd. has appointed Joshua George as its chief financial and commercial officer (CFCO), effective April 8, 2024. The company would like to thank Brandon Leong for his service who has been chief financial officer (CFO) since October, 2023.

Mr. George's combined chief financial and commercial officer role will draw on 30 years of commercial and financial leadership roles, including general manager, commercial, for Arrow Energy (a natural gas and energy joint venture between Shell and PetroChina), where he led the development and implementation of Arrow's corporate strategy and deals, including: the largest East Coast of Australia natural gas deal of $10-billion (Australian) over 27 years; divestment of various assets; and development from scratch of a successful energy markets team trading gas and electricity into the Australian electricity and commercial gas markets. Mr. George was at Arrow Energy for 17 years from its very early venture days, prior to which he worked at Tarong Energy (now Stanwell Corp. -- one of the largest power generators in Australia), Santos, Amcor and as a senior auditor for KPMG. Mr. George is a chartered accountant, has a master's of business administration from Queensland University of Technology, a bachelor's of business from the University of Tasmania and is a graduate of the Australian Institute of Company Directors.

Craig Nicol, Graphene Manufacturing's chief executive officer, stated: "I'm looking forward to working with Josh again in the commercial, finance and capital markets areas of the company, to develop GMG into a global commercial operation of selling energy and energy storage products with graphene manufactured from natural gas. I know his leadership work in successfully delivering commercial deals and very large multibillion-dollar transactions will support the progress of the company through a range of planned near-term milestones, including ramping up global thermal XR and G lubricant sales, and progressing through to investment for our automated battery pilot plant and modular graphene manufacturing plant phase 2.0."

Jack Perkowski, Graphene Manufacturing Group's chairman and non-executive director, commented: "I warmly welcome Josh to the team as chief financial and commercial officer at an important time, as the company transitions to a commercial operation and focuses on sales of its energy savings products, progressing its battery and graphene plants, and to developing the U.S. market for funding its development and growth initiatives. I look forward to working with Josh."

About Graphene Manufacturing Group Ltd.

Graphene Manufacturing Group 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.

Graphene Manufacturing Group has developed a proprietary production process to decompose natural gas (for example 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, Graphene Manufacturing Group has focused on graphene enhanced heating, ventilation, air conditioning coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, Graphene Manufacturing Group and the University of Queensland are working collaboratively with financial support from the Australian government to progress research and development and commercialization of graphene aluminum-ion batteries.

Graphene Manufacturing's four critical business objectives remain to:

1. Produce graphene and improve/scale the production process;
2. Build revenue from energy savings products;
3. Develop next-generation battery;
4. Develop supply chain, partner and project execution capability.

We seek Safe Harbor.