Graphene Manufacturing Group Ltd. announced the following business update of its ENERGY SAVINGS portfolio product - THERMAL-XR®? (TXR) powered by GMG Graphene. THERMAL-XR (TXR) is the Company's proprietary graphene enhanced heat transfer product that provides potential ENERGY SAVING benefits in a wide range of applications.

Since the recent Australian Government approval for GMG to produce and sell Thermal-XR®? at scale, the Company has driven sales activities and bolstered related production capacity. important first sales at scale have recently been secured and the Company's efforts to widen potential market segments is finding positive reception providing strong encouragement for continued sales focus targeting near term notable revenues.

GMG sales of Thermal-XR®? in the Heating, Venting and Air-Conditioning-Refrigeration (HVAC-R) market is growing in various countries in direct sales to HVAC-R Contractors, with efforts to identify and strike arrangements with local HVAC-R distributors ongoing. The Company has identified a number of markets outside the HVAC-R segment, where it sees expanded opportunities for TXR applications.

For example, there is growing interest in Thermal-XR®? In the Data Centre and Energy Production markets. The total available market size for Thermal-XR®?

is now estimated to be in excess of USD 28.4 billion, which has the potential to grow as more heat exchangers are needed for cooling space and in other industrial and energy production applications. HVAC-R Direct Sales. The Company has received a sales order for over USD 130,000 (including GST) for THERMAL-XR™?

sales and service for a large Australian eco-friendly resort for the coating of nearly 200 air conditioners. This is the single order for THERMAL-X R®? which the Company believes shows increased market acceptance of the graphene-enhanced coating system.

This is on the back of other local Australian projects converting into revenue.