Mr. Craig Nicol reports

GMG PROVIDES COMMERCIALISATION UPDATE ON ENERGY SAVINGS COATING THERMAL-XR

Graphene Manufacturing Group Ltd. has provided a business update on the commercialization progress of Thermal-XR powered by GMG Graphene.

GMG and GMG's Thermal-XR powered by GMG Graphene coating was awarded as Most Disruptive Technology Award and Best Chance for Market Success Award at the Data Center World Conference in Washington DC, USA on the 18th April 2024. The Data Center World conference is a global industry event that combines real world, practitioner and thought leader expertise with in-depth research and data, and access to a full spectrum of solution providers looking to drive the industry forward.

Most Disruptive Technology Award is the award for the technology that the judges determine to have the best opportunity to create short-term positive market, sales, or customer service disruption among existing data center technologies. Best Chance for Market Success Award is the award for the technology that judges determine will be the most successful at creating revenue upside and profit for the startup company.

Thermal-XR provided a 15.4% improvement in energy efficiency in an Aviation IT Data Center in Singapore:To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/206431_figure1.jpg

End-user Customer Engagement in the USA is ongoing with North America Distribution Partner Nu Calgon, which is known as the largest specialty chemical provider to the HVACR market in North America. Nu-Calgon has a 37 person sales team with approximately 4000 distribution points. Nu-Calgon's Cool Worx powered by GMG Graphene was introduced to the North American HVACR industry at the AHR Expo in January 2024. As previously announced Thermal XR provided a 36.7% reduction in energy when demonstrated at the High School Gymnasium, Harlingen Texas on a 30 ton Aaon packaged rooftop air-conditioning system.

GMG and Nu Calgon are reviewing and progressing next steps for its Thermal-XR re-submission for its USA Environmental Protection Agency's (EPA) approval with a full Pre-Manufacture Notice (PMN) to import and sell in the USA as previously announced.

GMG has also received its first order for Thermal-XR production coating trials from an Air Conditioner Manufacturer in China and is in discussions about product testing with various other Air Conditioner Manufacturers in both China and USA.

GMG has successfully completed the Thermal-XR coating project work at a number of Beach Front Hotels including the five star eco-resort Elements of Byron where the main targeted benefit is corrosion resistance for both the condenser coils and the outside air conditioner casing. Please see customer testimonial from the hotel owner: https://graphenemg.com/thermal-xr-testimonial-by-elements-of-byron/To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/206431_figure2.jpg

Based on the success of these projects, GMG has focused a sales campaign targeting the sale of Thermal-XR to Queensland and New South Wales based coastal hotels and resorts given their air conditioners are often found to fail faster due to more aggressive corrosion from the sea air. GMG's Thermal-XR can provide high Corrosion Protection whilst potentially providing energy savings for their HVAC equipment. Under third party laboratory re-testing conducted by Industrial Inspection & Analysis in St. Louis Missouri USA, Thermal-XR has now successfully achieved 10,000 hours salt sea spray testing. To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/206431_figure3.jpg

GMG has also received an order to complete the remaining two stages of the Australian micro-Liquefied Natural Gas (LNG) plant GMG supplied and coated Thermal-XR in 2022 after successfully increasing production capacity approximately 16% on the initial gas cooling stage of the LNG plant.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/206431_firegu4.jpg

GMG has received an order for Thermal-XR from a global Train Manufacturer to carry out supply and service of the product on train air conditioning systems in China after initial successful testing. In addition, GMG is also testing Thermal-XR with a global Truck Manufacturer for radiator and other equipment application trials.

Tim Edwards, Head of Sales is leading these activities for the Company with a key focus on driving sales in the HVAC market with significant experience and industry knowledge. Mark Lock, Global Key Account Manager has retired from GMG and the Company thanks Mark for his significant contributions in progressing Thermal-XR.

GMG's Managing Director and CEO, Craig Nicol, commented: "The progress GMG is making with Thermal-XR is exciting. The various types of industries that are now trialling and in some case ordering the product including after-market air conditioning, data centres, air conditioner manufacturers, truck and train manufacturers and industrial facilities such as LNG plants."

About Thermal-XR powered by GMG Graphene:

Thermal-XR COATING SYSTEM is a unique method of improving the conductivity of corroded heat exchange surfaces and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces while improving and rebuilding the lost corroded thermal conductivity and increasing the heat transfer rate by leveraging the physics of GMG Graphene, resulting in an efficiency improvement and a potential power reduction.

Thermal-XR RESTORE is powered by GMG Graphene. PATENT PENDING

About GMG www.graphenemg.com

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 coating), 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").

GMG's 4 critical business objectives are:Produce Graphene and improve/scale cell production processesBuild Revenue from Energy Savings ProductsDevelop Next-Generation Battery Develop Supply Chain, Partners & Project Execution Capability

We seek Safe Harbor.