Mr. Craig Nicol reports

GMG ACHIEVES MAJOR COMMERCIAL MILESTONE - THERMAL-XR TO BE DISTRIBUTED THROUGH AUSTRALIAN BEIJER REF AND KIRBY NETWORK

Beijer Ref has agreed to offer Graphene Manufacturing Group Ltd.'s proprietary Thermal-XR Enhance heat transfer coating as an optional coating solution on Beijer Ref and Kirby branded refrigeration evaporator coils, including the Beijer Patton and Kirby Guardian lines across all of Beijer Ref's and Kirby's approximately 73 wholesale locations in Australia starting from Nov. 17, 2025. Beijer Ref customers electing to have the optional coating solution applied to their Beijer Ref or Kirby refrigeration evaporator coils will contract directly with Beijer Ref, which will enter into a bilateral agreement with the company, subject to Graphene Manufacturing's standard terms and conditions. This collaboration marks a significant milestone in Graphene Manufacturing's commercialization of its innovative coating products for energy efficiency and corrosion resistance in the heating, ventilation, air conditioning and refrigeration industry.

While the collaboration is for an indeterminate period, the company anticipates that as the advantages of Thermal-XR Enhance are experienced by customers electing to have the coating applied, the benefits to both Beijer Ref and the company will support a long-term arrangement. However, at present, either party may terminate the collaboration at any time.

Beijer Ref is one of the world's largest global refrigeration and HVAC wholesalers, headquartered in Malmo, Sweden, with operations spanning more than 40 countries and over 500 branches worldwide, 6,000 employees, and 200,000 customers. In Australia, Beijer Ref Group distributes through Kirby, Beijer Ref Australia, SCM REF Australia and ACD Trade, providing air conditioning and refrigeration equipment, components, and engineering solutions. The company serves diverse sectors such as supermarkets, cold storage and industrial refrigeration, combining expertise with local manufacturing and distribution capabilities.

Graphene Manufacturing's Thermal-XR Enhance coating utilizes the company's unique graphene-based formulation to improve the thermal performance and longevity of heat exchange surfaces. The application of this coating to Beijer Patton and Kirby Guardian evaporator coils is expected to enhance corrosion resistance and cooling efficiency, reduce energy consumption, and provide sustainability benefits across diverse cooling environments. This initiative extends the availability of Graphene Manufacturing's product through Beijer Ref's extensive distribution network while offering Australian customers improved system performance and energy/emission reduction pathways.

Graphene Manufacturing plans to utilize a network of trained and approved HVAC contractors to apply its Thermal-XR Enhance coating on refrigeration and air conditioning coils for this rollout for coating Beijer Ref products starting in the capital cities of mainland Australia. Each participating contractor will undergo Graphene Manufacturing certification in the Graphene Manufacturing Spray Academy to ensure it is proficient in the coating's three-stage process: surface cleaning and preparation, graphene-based coating application, and postapplication inspection and maintenance verification. This ensures consistent quality, adherence to safety protocols and correct use of Graphene Manufacturing's proprietary application methods.

These certified contractors will deliver coating services on site or at preapproved Graphene Manufacturing spray coating plants nationally, enabling Graphene Manufacturing to scale deployment seamlessly through both direct and distributor channels, particularly in collaboration with Beijer Ref and Kirby stores. By drawing on established HVAC service professionals, the company ensures local availability, rapid turnaround for installations and full compliance with the quality standards required for quality assurance.

This contractor program forms part of Graphene Manufacturing's strategic commercialization model, where trained technicians act as front line partners in the installation of graphene-enhanced coatings for end-users. The approach maximizes accessibility, maintains warranty integrity, and strengthens Graphene Manufacturing's reputation for technical excellence and customer support across Australia's HVAC-R market.

Graphene Manufacturing's chief executive officer, Craig Nicol, commented: "We are proud to see Thermal-XR Enhance incorporated into Beijer Ref's and Kirby's product offerings in Australia as an option for their leading HVAC-R products. This partnership demonstrates the growing recognition of graphene-enhanced materials as a viable route to corrosion resistance and greater efficiency in conventional HVAC-R systems. The company continues to expand its market reach globally through strategic channel partners and remains committed to advancing environmentally responsible technologies through graphene innovation."

Graphene Manufacturing's chairman and non-executive director, Jack Perkowski, commented, "Congrats to the team -- great to see this next step in the rollout of GMG's global leading energy saving products."

About Graphene Manufacturing Group Ltd.

Graphene Manufacturing is an Australian-based clean-technology company which develops, makes and sells energy saving and energy storage solutions, enabled by graphene manufactured through in-house production process. Graphene Manufacturing uses its own proprietary production process to decompose natural gas (that is, methane) into its natural elements carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high-quality, low-cost, scalable, tunable and low/no-contaminant graphene suitable for use in clean-technology and other applications.

The company's present focus is to derisk and develop commercial scale-up capabilities and secure market applications. In the energy savings segment, Graphene Manufacturing has initially focused on graphene enhanced heating, ventilation and air conditioning coating (or energy saving coating), which is being marketed into other applications, including electronic heat sinks, industrial process plants and data centres. Another product Graphene Manufacturing has developed is the graphene lubricant additive focused on saving liquid fuels initially for diesel engines.

In the energy storage segment, Graphene Manufacturing 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 has also developed a graphene additive slurry that is aimed to improve the performance of lithium-ion batteries.

Graphene Manufacturing's four critical business objectives are:

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

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