Brisbane, Queensland, Australia--(Newsfile Corp. - May 11, 2026) - Graphene Manufacturing Group Ltd (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce GMG'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"). The Project includes spraying THERMAL-XR on a total of between 300 to 600 air conditioners, see Figure 1 showing how the THERMAL-XR is sprayed on the air conditioners in GMG's spray booth facility in Brisbane Queensland.

Figure 1: Spray Booth and Curing Area for Air Conditioners for Project

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Craig Nicol, CEO & 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."

Figure 2

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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 GMG:

GMG 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. GMG uses its own proprietary production process to decompose natural gas (i.e. 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 de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG 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 GMG has developed is the graphene lubricant additive focused on saving liquid fuels initially for diesel engines.

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 has also developed a graphene additive slurry that is aimed at improving the performance of lithium-ion batteries.

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

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 and U.S. 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", "believes" "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, THERMAL-XR coating on the Project's air conditioners, the energy savings, anti-corrosion and extension of asset life attributes of THERMAL-XR, the momentum THERMAL-XR is experiencing in Australia, the ability of GMG's energy savings products to build a revenue base, GMG's intentions to develop commercial scale-up capabilities, GMG's focus in the energy savings segment, GMG's intentions for the use of graphene lubricant additive on saving liquid fuels, expectations for R&D and commercialization of G+AI Batteries, GMG's ability to improve the performance of lithium-ion batteries and GMG's critical business objectives.

Such forward-looking statements are based on a number of assumptions of management, including the coating of air conditioners on Meriton's two towers. 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 GMG does not receive or receive on a timely basis the fully signed consent notice from the and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated November 4, 2025 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.

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