Mr. Craig Nicol reports

GMG'S THERMAL-XR TO BE APPLIED ON UP TO 600 AIR CONDITIONERS FOR TWO LUXURY TOWERS IN AUSTRALIA

Graphene Manufacturing Group Ltd.'s energy saving and anti-corrosion graphene coating solution, Thermal-XR, is being applied to the air conditioners for two luxury towers in Australia currently under construction at the Gold Coast in Queensland. The project includes spraying Thermal-XR on a total of between 300 to 600 air conditioners.

Craig Nicol, chief executive officer and managing director of the company, commented, "Great to see two of the largest towers in Australia using Thermal-XR on their air conditioners to save energy for the apartment owners and tenants as well as limiting corrosion and extending the air conditioners' life."

Jack Perkowski, non-executive chairman and director of the company, commented: "This project is a great demonstration of the commercial momentum Thermal-XR is building in the Australian market. Seeing our graphene coating applied to up to 600 air conditioners across two of Australia's most prestigious luxury towers is a significant milestone -- not only for the energy savings and extended asset life it is expected to deliver to apartment owners and tenants, but as a compelling proof point for the broader HVAC-R industry. Projects of this scale highlight the real-world value that GMG's technology brings and reinforce our path to building a substantial revenue base from our energy savings products."

About Thermal-XR Enhance powered by GMG Graphene: Thermal-XR Enhance coating system is a unique patent product and method of improving the conductivity of heat exchange surfaces (including for air conditioners, refrigeration systems, heat pumps and data centres) and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces from corrosion (successfully passed up to 20,000 hours of salt sea spray corrosion testing) while improving the 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.

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 via 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, tuneable 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 (HVAC-R) coating (or energy-saving coating) which is now 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 R&D (research and development) and commercialization of graphene aluminium-ion batteries (G+AI batteries). Graphene Manufacturing has also developed a graphene additive slurry that is aimed at improving the performance of lithium-ion batteries.

Graphene Manufacturing's four critical business objectives are:

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

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