Brisbane, Queensland, Australia–(ACN Newswire – October 5, 2023) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to advise that Brandon Leong has been appointed Chief Financial Officer (CFO) effective 17^th October 2023. The Company would like to thank Scott Richardson who has been Interim Chief Financial Officer (CFO) since 31 July, 2023 and has led the finance team through the recent capital raise and year end audit process as well as implemented a number of improvement initiatives and will work through to the end of January 2024 to ensure a smooth handover to Brandon.

Brandon comes with CFO role experience drawing on over 20 years of financial leadership roles including as CFO, Deputy CFO, Financial and Commercial Director and Financial Advisory roles in publicly listed, private companies and advisory firms – including PWC in Australia and United States of America, CPB Contractors (Construction), Aurizon (Rail), Holcim (Construction Materials) and various other companies. Brandon is a Chartered Accountant, has a Bachelor of Commerce and Bachelor Arts from the University of Queensland, as well as an Executive Masters of Business Administration from University of Oxford. Brandon is a graduate of the Australian Institute of Company Directors.

GMG’s CEO Craig Nicol stated, “I’m looking forward to working with Brandon in the commercial, finance and capital markets areas of the Company to support GMG’s ongoing commercial development and finance needs. I expect his leadership work in Australia and USA in very large multi-billion dollar transactions will support the progress of the company through a range of planned near term milestones including ramping up Thermal XR sales, meeting our Battery development milestones, and starting up our new graphene manufacturing expansion plant over the next 6 months. I also want to thank Scott for his very focused attention on delivering a number of key outcomes in the short time period that he has been at GMG to date and I look forward to continue working with him.”

GMG’s 4 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, Partners & Project Execution Capability

About GMG
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, with low cost inputs, 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 paint), 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”).

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the effective date on which Mr. Richardson will be leaving the Company, the effective date on which Mr. Leong will become the Chief Financial Officer (CFO), the contributions Mr. Leong will make to the company in his capacity as CFO, the duration of Mr. Leong’s service as CFO, the maturation of the Company into commercial production, the timing and success of starting up the Company’s new graphene manufacturing expansion plant.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things risks relating to the effective date on which Mr. Richardson will be leaving the Company, the effective date Mr. Leong will become the CFO, Mr. Leong’s contributions as CFO differing from management’s current expectations, the Company not maturing into commercial operations on the expected timelines, if at all, the Company failing to achieve its planned milestones around starting up GMG’s new graphene manufacturing expansion plant on the timelines contemplated, if at all..

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the effective date on which Mr. Richardson will be leaving the Company, the effective date Mr. Leong will become the CFO, the positive impact that Mr. Leong, as the CFO, will have on the Company’s development, the Company maturing into commercial production, the timing and content of milestones around the Company’s new graphene manufacturing plant.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183029

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Brisbane, Queensland, Australia–(ACN Newswire – October 4, 2023) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to advise that the Honourable Milton Dick Member for Oxley and Speaker of The Australian House of Representatives officially opened the THERMAL-XR® Coating Blending Plant on Thursday 28^th September 2023.

Figure 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8082/182891_b23c9806d42a9932_001full.jpg

Honourable Milton Dick said, “This blend plant represents a substantial investment in both technology and talent, featuring the latest advancements in nanotechnology coating production processes and quality control measures. The plant’s opening is a testament to GMG’s focus to develop into a world-leading energy-saving product manufacturing business.”

GMG’s CEO Craig Nicol stated, “GMG is very fortunate to be in the Federal seat of Oxley and to have a Federal Member who is very supportive of Industry. Speaker Milton Dick visited GMG at its Sumner Park location in 2020. The official opening is another significant milestone for GMG in striving towards achieving revenue from Energy Saving Products.”

GMG’s 4 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, Partners & Project Execution Capability

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, with low cost inputs, 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 paint), 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”).

For further information please contact:

• Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
• Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the ability of the Company to generate revenue from energy saving products, political support of the industry, and future market and distributor demand for the Company’s products.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things risks relating to the Company failing to generate revenue from energy saving products, if at all, political support of the industry, the blending plant’s ability to service future market and distributor demand, and future demand for the Company’s products.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company’s ability to generate revenue from energy saving products, political support of the industry, and future demand for the Company’s products.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182891

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BRISBANE, AUS, Sep 11, 2023 – (ACN Newswire) – Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide a progress update on its Graphene Aluminium-Ion Battery technology ("G+AI Battery") being developed by GMG and the University of Queensland ("UQ"), and on the transition from coin cells to pouch cell format.

The Company has now made initial G+AI Battery prototype pouch cells (see Figure 1), which have a storage capacity of over 500 mAh, with a nominal voltage of ~ 2 volts. This is a significant development as it shows the Company has matured the battery electro-chemistry and assembly techniques of producing pouch cells with over 10 layers of graphene coated cathode and aluminium foil anode.

Figure 1: Typical G+AI Battery Pouch Cell Prototype
https://images.newsfilecorp.com/files/8082/180189_gmg1_550.jpg

The next step for the Company is to optimise the assembly techniques of the pouch cell prototypes. This is to achieve repeatable storage capacity of over 500 mAh cells in order to conduct a variety of standard testing conditions for comparative purposes. The Company then intends to pursue producing cells with over 20 double-layers to get a storage capacity of 1000 mAh by using an automatic coating machine, cathode laser cutting equipment, and a semi-automatic stacker, to achieve reproduceable cells for validation trials.

The aforementioned reproduceable cells is to meet an objective for the Rio Tinto Joint Development Agreement. This target is to achieve a repeatable capacity of 1000 mAh by H1 2024 and then produce this pouch cell at scale by H1 2025.

Figure 2: GMG Pouch Cell Prototype Development Process
https://images.newsfilecorp.com/files/8082/180189_gmg2.png

Battery Technology Readiness Level

The battery technology readiness level ("BTRL") of the Graphene Aluminium-Ion technology has progressed to Level 4 (see Figure 3). GMG is currently optimizing electrochemical behaviour for pouch cells via ongoing laboratory experimentation.

Figure 3: Battery Technology Readiness Level
https://images.newsfilecorp.com/files/8082/180189_gmg3.png

Source: "The Battery Component Readiness Level (BC-RL) Framework: A
technology-specific development framework", Matthew Greenwood et al

Next Steps Toward Commercialisation & Market Applications

The Company continues to see a broad range of applications for a completed GMG Graphene Aluminium Ion Battery – utilising its ultra-high power-density and nominal energy density characteristics. A range of global companies have confidentially expressed their interest in working with GMG in the following vertical sectors:

– Diesel engine replacement (high load and power requirements)
– Energy storage (in front of, or behind the meter)
– Personal electronics (fast charging and long life)
– Aviation (including vertical take-off and landing)
– Electric vehicles
– Other applications

Next Generation Battery Performance

GMG's next generation Graphene Aluminium Ion Battery performance data (as tested and calculated on coin cells), as compared to the most commonly available lithium-ion batteries, is shown below in Figure 4, with a list of its beneficial characteristics.

Performance results for the pouch cells could be significantly different and will be communicated upon successfully producing a 1000 mAh+ battery pouch cell, and testing has been completed.

Figure 4: Graphene Aluminium Ion Battery Comparative Performance Data (for coin cells)
https://images.newsfilecorp.com/files/8082/180189_787c8634f4c2f806_005full.jpg

GMG's 4 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 & Project Execution Capability

About GMG

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 paint), 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").

For further information please contact:

Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041
www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the testing and validation of the graphene quality produced in the Company's production process, the economical sustainability of scaling the graphene and battery production processes, the ongoing improvement of graphene quality from the GMG graphene production process and the G+AI Battery performance, the engineering and development of the coin cell and pouch cell with respect to the current battery performance estimates and calculations, the timing and considerations of potential FIDs, anticipated timelines for commercial production, anticipated next steps for the further development of the Company's products, the development and viability of GMG's production facilities, and the location of GMG's production facilities. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the deployment of the Company's resources, that the Company will not be able to test or validate the battery grade quality of graphene needed for its products, that it will not be economically sustainable to scale the graphene or battery manufacturing processes, that the quality of the graphene manufactured by GMG and the performance of the G+AI Battery will not set out to be as estimated, calculated or improve, that the Company will not be able to further develop the coin cell and pouch cell technologies, and the timing or results of any FID. Such risk factors may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates, and the market demand for the Company's products. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BRISBANE, AUS, Sep 8, 2023 – (ACN Newswire) – Graphene Manufacturing Group Ltd. (TSXV:GMG) ("GMG" or the "Company") is pleased to advise that Mr Jack Perkowski, based in New Jersey USA, has joined the Company's board of directors effective 7 September, 2023.

Mr Perkowski founded ASIMCO Technologies in 1994, and from 1994 to 2008, served as the Chairman of ASIMCO's Board of Directors and the company's Chief Executive Officer. Under Mr Perkowski's leadership, ASIMCO became one of the most important players in China's automotive components industry and gained a reputation for developing local management and integrating a broad-based China operation into the global economy. ASIMCO was later sold to Bain Capital in 2010 and is still regarded as one of the most successful automotive component manufacturing companies in China. Prior to moving to China, Mr Perkowski worked for twenty years on Wall Street where he was the head of Investment Banking at Paine Webber, a major securities firm that was eventually acquired by UBS in 2000. After leaving ASIMCO, Mr Perkowski founded JFP Holdings, a merchant banking firm focused on China, where he now serves as Chairman.

GMG's CEO Craig Nicol stated, "I'm very excited to see Jack joining as a Director of the Company to support our progression into a commercial manufacturing operation – his finance and manufacturing entrepreneur experience and knowledge will be a great addition to the company and board – I very much look forward to working with him."

Guy Outen, GMG's Chair added, "I'm delighted to welcome Jack to the board. His past successes at Paine Webber and ASIMCO and his knowledge in manufacturing and finance give me confidence that he will be a great asset to the board and in supporting GMG's significant aspirations."

About GMG

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, with low cost inputs, 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 paint), 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").

For further information, please contact:

– Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223

– Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the effective date on which Mr. Perkowski will join the board of director, and the contributions Mr. Perkowski will make to the Company in his capacity as a director.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the effective date on which Mr. Perkowski joins the board of directors, and his contributions as a director differing from management's current expectations.

In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the effective date on which Mr. Perkowski will join the board of directors, and the positive impact Mr. Perkowski will have on the Company's development in that role.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BRISBANE, AUS, Sep 6, 2023 – (ACN Newswire) – Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to outline three important strategies: the Company's product commercialisation process, organic corporate growth strategy and product distribution channel strategy.

The Company's Product Commercialisation Process (see Figure 1) is to develop the Company's products through four stages, including: (i) developing the initial product concept, (ii) making the product repeatedly and verifying it will meet the target market needs with external testing, (iii) building the capacity to produce and sell the product, including regulatory approvals and organisation, and (iv) building awareness, making and selling the product into the route to markets developed.

Figure 1: Product Commercialisation Process. *GMG Graphene Powder is made for use in GMG's products.
https://images.newsfilecorp.com/files/8082/179690_graphene_01_550.jpg

The Company is also pleased to announce Thermal XR is now in the fourth and final stage of commercialisation; building awareness, making and selling the product. G Lubricant is positioned in the second stage as it is currently undergoing product market testing and the Graphene Aluminium Ion Battery (G+AI Battery) is also in the second stage as the battery is currently undergoing product development and optimisation (see Company's news release dated May 29, 2023).

The Company's intended organic Growth Strategy (see Figure 2) is to progress the products through the commercialisation process to be able to grow revenues from making and selling Thermal XR(R) and G Lubricant whilst developing Energy Storage products (i.e. the Graphene Aluminium Ion Battery). Supporting both will be the continued development and growth of GMG's Graphene production engineering capability.

Figure 2: Corporate Growth Strategy.
https://images.newsfilecorp.com/files/8082/179690_graphene_02_550.jpg

Meanwhile, the Company plans to continue developing Energy Storage products with the goal of adding selected partners from different verticals to co-sponsor and accelerate development. Rio Tinto is the first such sponsor, targeting Graphene Aluminium Ion battery for mining haul trucks in the mining and mineral processing sector.

The Company's intended Channel Strategy (see Figure 3) is to sell its Energy Saving products through relevant industry segment distributors in various geographic locations and/or co-branded products for further distribution. The co-branded products allow product co-developers to share in GMG's branded logo and product technology through their existing production, distribution and sales infrastructure. The Company sees this as a way to distribute its product and increase GMG's footprint faster and wider. For larger companies where bespoke or new applications require product development and/or support, direct sale would initially be undertaken.

Figure 3: Channel Strategy.
https://images.newsfilecorp.com/files/8082/179690_graphene_03_550.jpg

The Energy Storage products, based on the Graphene Aluminium Ion Battery, will primarily be direct business to business sale (B2B Direct) as new technology battery customers require intensive technical engagement with their battery suppliers to ensure they work effectively in their products.

GMG's 4 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; and
4. develop supply chain, partnerships and project-execution capability.

About GMG

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 paint), 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"). For further information please contact:

Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041
www.graphenemg.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the implementation of the Company's product commercialization process, the Company's intended organic corporate growth strategy, the Company's plans to continue developing and growing the Energy Solutions products, the Company's plan to make and sell Energy Saving Products into various target market segments, the Company use of partnerships and co-branding and the Company's intended product distribution channel strategy.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding: the Company will be successful in implementing its product commercialization process, the Company will be successful in executing on its intended organic corporate growth strategy, the Company will be successful in continuing to develop and grow its Energy Saving Products, the Company will be able to engage third parties in connection with sponsorship and co-branding opportunities and that the Company will be able to fulfil its intended distribution channel strategies, and derive the expected benefits therefrom. Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the Company will be unsuccessful in implementing and maintaining its product commercialization process, the Company will not be able to fulfill its intended organic corporate growth and product distribution channel strategies, or derive the expected benefits therefrom, the Company will not be able to continue developing and growing its Energy Solutions products, the Company will be unable to make and sell Energy Saving Products into target market segments, the Company will not be successful in engaging third parties and developing relationships to assist in the development of the Company's products, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 18, 2022 available for review on the Company's profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

BRISBANE, AUS, Aug 28, 2023 – (ACN Newswire) – Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to outline important commercialisation progress and sales development of THERMAL-XR(R) powered by GMG Graphene.

THERMAL-XR(R) powered by GMG Graphene
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THERMAL-XR (R) Coating Blending Project | Initial Production & Capabilities

The Company is pleased to announce that it has commissioned its graphene enhanced coating blending plant and it is now operational after making its first 1000 litre blend. This blending plant is expected to have the capacity to produce up to 500,000 litres of THERMAL-XR(R) RESTORE(R) coating per annum, subject to graphene production, when operating two blends per eight hour shift, 250 days per year. This capacity enables future service growth well into the future.

GMG Projects & Operations Staff involved in commissioning the first 1000 litre of THERMAL-XR(R) RESTORE
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GMG has also installed laboratory facilities for quality and control requirements and progressing research and development, to extend and enhance the THERMAL-XR(R) portfolio into additional industries and applications.

GMG's Managing Director and CEO, Craig Nicol, commented: "We are very excited to commission our own blend plant and to have manufactured 1000 litres of THERMAL-XR(R) RESTORE as part of our distributor's initial orders, which are subject to in-country regulatory approvals. This is an important step to becoming a globally recognised manufacturer and marketer of energy-saving products."

Since the February 2023 Australian Government approval for GMG to produce and sell TXR at scale, the Company has intensified sales activities that have resulted in distribution agreements in North America, Singapore, Thailand, Indonesia, and South Korea to the Heating, Ventilation and Air-Conditioning-Refrigeration (HVAC-R) market. Furthermore, wider potential industries are being assessed including energy savings applications in Data Centres and for Energy Producers e.g. Liquified Natural Gas Plants, where THERMAL-XR(R) has the potential to increase production capacity and energy efficiency.

Important initial and forward sales orders have been received from HVAC-R distributors and these are being reviewed against their market introduction timelines and their local country approvals. The application to the USA's Environmental Protection Agency (EPA) for approval of THERMAL-XR(R) with all the supporting scientific testing is to be submitted shortly with a statutory 30-day review period. Given the number of approved graphene material products, the Company is confident of an approval.

Total forward sales orders received to date will be communicated to the market in a forth coming update.

The Company has received and is assessing requests by various parties to be Distributors around the world – especially in Europe and Asia for the HVAC-R market. The Company is also working with various large companies on the potential use of THERMAL-XR(R) in vehicle radiators, solar cells and industrial applications. The Company believes the LNG industry remains a highly attractive opportunity for the use of THERMAL-XR(R) given the large potential economic and environmental benefit it could provide for LNG plants. A testing program with LNG producers is in the process of being developed and implemented.

About THERMAL-XR(R) powered by GMG Graphene:

THERMAL-XR(R) 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(R) 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 paint), 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").

For further information please contact:
Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, the expected benefits and capabilities of the blending plant, including its ability to produce up to 500,000 litres of THERMAL-XR(R) RESTORE(R) per annum and that it will service growth well into the future, the developments of extensions and enhancements to the THERMAL-XR(R) portfolio into a wider range of applications, the potential for THERMAL-XR(R) to enable energy producers to produce additional energy more efficiently, the continuous requests of parties to be Distributors around the world, the large comparative benefit the use of Thermal XR(R) could provide for LNG plants, and the timing and communication of forward sales orders to the market.

Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the ability of the blending plant to produce up to 500,000 litres of THERMAL-XR(R) RESTORE(R) per annum and service growth well into the future, the development of extensions and enhancements to the THERMAL-XR(R) portfolio into a wider range of applications, that energy producers will be able to derive the expected benefits from the Company's products, parties continuing to request to be Distributors around the world, the expected benefits that Thermal XR(R) could provide for LNG plants, and that the Company will communicate its forward sales orders to the market shortly. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the blending plant will not have the capacity to produce up to 500,000 litres of THERMAL-XR(R) RESTORE(R) per annum or be able to service growth well into the future, that there will be no developments of extensions or enhancements to the THERMAL-XR(R) portfolio into a wider range of applications, that parties will not continue to request to be Distributors, that Thermal XR(R) will not provide comparative benefits for LNG plants, that the Company will not communicate its forward sales orders on the expected timeline, if at all, that energy producers will not derive the expected benefits from the Company's products, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 18, 2022 available for review on the Company's profile at www.sedarplus.ca.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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