Reported Earnings • May 31
Third quarter 2026 earnings released: EPS: AU$0.008 (vs AU$0.018 loss in 3Q 2025) Third quarter 2026 results: EPS: AU$0.008 (up from AU$0.018 loss in 3Q 2025). Net income: AU$1.04m (up AU$2.80m from 3Q 2025). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electrical industry in Canada. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Recent Insider Transactions • Apr 29
Founder recently sold CA$212k worth of stock On the 24th of April, Craig Nicol sold around 83k shares on-market at roughly CA$2.57 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Craig has been a net seller over the last 12 months, reducing personal holdings by CA$780k. New Risk • Apr 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-AU$4.2m). Earnings have declined by 8.4% per year over the past 5 years. Revenue is less than US$1m (AU$292k revenue, or US$210k). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Mar 04
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$4.2m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-AU$4.2m). Earnings have declined by 8.4% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (19% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Significant insider selling over the past 3 months (CA$275k sold). Reported Earnings • Mar 04
Second quarter 2026 earnings released: AU$0.18 loss per share (vs AU$0.023 loss in 2Q 2025) Second quarter 2026 results: AU$0.18 loss per share (further deteriorated from AU$0.023 loss in 2Q 2025). Net loss: AU$21.1m (loss widened AU$18.9m from 2Q 2025). Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electrical industry in Canada. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. New Risk • Jan 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.6% per year over the past 5 years. Revenue is less than US$1m (AU$266k revenue, or US$179k). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Significant insider selling over the past 3 months (CA$275k sold). Recent Insider Transactions Derivative • Jan 18
Independent Non Executive Chairman exercised options to buy CA$248k worth of stock. On the 13th of January, John Perkowski exercised options to buy 71k shares at a strike price of around CA$1.26, costing a total of CA$90k. As of today, John currently holds no shares directly. Company insiders have collectively sold CA$333k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Dec 10
Founder exercised options to buy CA$477k worth of stock. On the 5th of December, Craig Nicol exercised options to buy 367k shares at a strike price of around CA$0.33, costing a total of CA$123k. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. Since March 2025, Craig's direct individual holding has decreased from 12.16m shares to 11.92m. Company insiders have collectively sold CA$572k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Dec 10
Founder recently sold CA$241k worth of stock On the 5th of December, Craig Nicol sold around 200k shares on-market at roughly CA$1.20 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Craig has been a net seller over the last 12 months, reducing personal holdings by CA$695k. Reported Earnings • Nov 26
First quarter 2026 earnings released: AU$0.02 loss per share (vs AU$0.014 loss in 1Q 2025) First quarter 2026 results: AU$0.02 loss per share (further deteriorated from AU$0.014 loss in 1Q 2025). Net loss: AU$2.19m (loss widened 63% from 1Q 2025). Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in Canada. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Oct 12
Founder recently sold CA$160k worth of stock On the 9th of October, Craig Nicol sold around 200k shares on-market at roughly CA$0.80 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Craig has been a net seller over the last 12 months, reducing personal holdings by CA$455k. Reported Earnings • Oct 01
Full year 2025 earnings released: AU$0.087 loss per share (vs AU$0.086 loss in FY 2024) Full year 2025 results: AU$0.087 loss per share (further deteriorated from AU$0.086 loss in FY 2024). Net loss: AU$8.57m (loss widened 16% from FY 2024). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in Canada. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Announcement • Sep 08
Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 25, 2025 Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 25, 2025. New Risk • Sep 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 5.4% per year over the past 5 years. Revenue is less than US$1m (AU$238k revenue, or US$155k). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Significant insider selling over the past 3 months (CA$168k sold). Market cap is less than US$100m (CA$103.0m market cap, or US$74.5m). Announcement • Sep 03
Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 6.9 million. Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 6.9 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 7,666,667
Price\Range: CAD 0.9
Discount Per Security: CAD 0.063
Transaction Features: Regulation S; Rule 144A New Risk • Aug 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 5.4% per year over the past 5 years. Revenue is less than US$1m (AU$238k revenue, or US$155k). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (CA$168k sold). Market cap is less than US$100m (CA$99.0m market cap, or US$71.7m). New Risk • Jul 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.4m free cash flow). Earnings have declined by 5.4% per year over the past 5 years. Revenue is less than US$1m (AU$238k revenue, or US$156k). Minor Risks Significant insider selling over the past 3 months (CA$168k sold). Market cap is less than US$100m (CA$64.5m market cap, or US$47.1m). Announcement • Jul 08
Graphene Manufacturing Group Limited Commences Sales of G® Lubricant and Advancing Regulatory Approvals Graphene Manufacturing Group Limited announced that G® Lubricant has commenced both website sales and direct sales to end customers in a number of countries and regions around the world, including Australia, the United Kingdom, Europe, China, Canada and the United States. GMG has received formal requests to distribute G® Lubricant in a number of additional countries and is working through the process to commence these distribution deals, including packaging and labelling updates to address country-specific requirements for sales to commence. GMG is commencing the process to register the G® Lubricant product with the European Chemicals Agency under the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) regulation to ensure large quantities of the product can be sold in Europe. GMG provides the following updates with respect to other actions that the Company is taking to further develop sales of G® Lubricant: GMG is discussing scaling partnership possibilities for G® Lubricant with large oil and gas companies and original equipment manufacturers around the world. G®? Lubricant is being actively used in a number of large truck fleets and GMG is awaiting product performance feedback from these trials, which is anticipated within the next few months. Recent Insider Transactions • Jul 03
Founder recently sold CA$168k worth of stock On the 27th of June, Craig Nicol sold around 269k shares on-market at roughly CA$0.62 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Craig has been a net seller over the last 12 months, reducing personal holdings by CA$295k. Reported Earnings • Jun 02
Third quarter 2025 earnings released: AU$0.018 loss per share (vs AU$0.026 loss in 3Q 2024) Third quarter 2025 results: AU$0.018 loss per share (improved from AU$0.026 loss in 3Q 2024). Net loss: AU$1.76m (loss narrowed 22% from 3Q 2024). Revenue is forecast to grow 76% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in Canada. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Announcement • May 29
Graphene Manufacturing Group Ltd. Announces Internal G® Lubricant Testing Results Showing 10% Fuel Savings and 33% Reduction in Particulate Emissions Graphene Manufacturing Group Ltd. announced the following internal GMG run engine test results when G® Lubricant was added to a Caterpillar 22 kVA diesel engine run at an 80% Load. Test results show a 10% increase in energy efficiency (kwh/litres), and also a 33% reduction in harmful diesel engine exhaust particulate matter emissions, when three doses of G® Lubricant, with a maximum graphene dosage of 0.03%, was added to the standard diesel engine oil. It is noted that the test engine was not operating optimally before G® Lubricant were added - the engine was overheating at long runs of sustained high loads. As a result, after the initial dose of G® L lubricant was added, an additional two dosages of G® Lubricants were used to hopefully bring the engine into a more stable operating regime, an outcome that was generally achieved. The following describes the equipment used and the process followed by the Company in demonstrating the fuel saving demonstration of the G® Lubricant in the diesel engine generator: The same testing equipment, data systems and processes were used which was verified by the University of Queensland and detailed in GMG's previous press release on the 25th February, transformative-graphene-energy-saving-s solution-for-the- multi-trillion-dollar-global-liquid-fuel-industry. GMG also added the following testing equipment to the testing program: Testo 340 Diesel Kit 2 engine emissions test kit which was newly calibrated by the third-party supplier; PDSA DPM-RT-2 particulate matter test unit which was newly calibrated by the Third-party supplier; A 22kVA Caterpillar diesel engine generator (with 1,959 hours of run time) was setup in the GMG Richlands warehouse. New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.8m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 7.5% per year over the past 5 years. Revenue is less than US$1m (AU$241k revenue, or US$144k). Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Significant insider selling over the past 3 months (CA$127k sold). Market cap is less than US$100m (CA$59.1m market cap, or US$41.5m). Announcement • Mar 20
Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 5.04 million. Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 5.04 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 6,300,000
Price\Range: CAD 0.8
Discount Per Security: CAD 0.056 New Risk • Mar 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.8m free cash flow). Earnings have declined by 7.5% per year over the past 5 years. Revenue is less than US$1m (AU$201k revenue, or US$124k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Significant insider selling over the past 3 months (CA$127k sold). Market cap is less than US$100m (CA$92.5m market cap, or US$63.9m). Reported Earnings • Feb 28
Second quarter 2025 earnings released: AU$0.023 loss per share (vs AU$0.034 loss in 2Q 2024) Second quarter 2025 results: AU$0.023 loss per share (improved from AU$0.034 loss in 2Q 2024). Net loss: AU$2.22m (loss narrowed 23% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. New Risk • Feb 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.8m free cash flow). Earnings have declined by 9.8% per year over the past 5 years. Revenue is less than US$1m (AU$250k revenue, or US$157k). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Significant insider selling over the past 3 months (CA$127k sold). Market cap is less than US$100m (CA$80.7m market cap, or US$56.3m). Recent Insider Transactions • Jan 15
Founder recently sold CA$127k worth of stock On the 13th of January, Craig Nicol sold around 200k shares on-market at roughly CA$0.64 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Craig's only on-market trade for the last 12 months. Reported Earnings • Nov 28
First quarter 2025 earnings released: AU$0.014 loss per share (vs AU$0.013 loss in 1Q 2024) First quarter 2025 results: AU$0.014 loss per share (further deteriorated from AU$0.013 loss in 1Q 2024). Net loss: AU$1.34m (loss widened 27% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 52% per year, which means it is significantly lagging earnings. Announcement • Oct 18
Graphene Manufacturing Group Ltd Provides Commercialisation Update on Energy Savings Coating Thermal-XR Graphene Manufacturing Group Ltd. provided a business update on the commercialisation progress of THERMAL-XR Powered by GMG Graphene. GMG continues to carry out both Supply and Service Coating for various Air Conditioning Manufacturers, Distributors, Contractors and end equipment owners - including the large HVACR condensing units showing the black coating of THERMAL-XR on the condenser coils. At an event on 4th October 2024 in Brisbane, Australia that included the broad participation of HVAC industry representatives, GMG successfully RE-launched THERMAL-XR® ENHANCE. The focus of the event was on Thermal-XR's unique heat transfer and corrosion protection capabilities. When first developed, the product was named THERMAL-XR® RESTORE because the Company believed its principal benefit was to restore the heat transfer capabilities of existing installed air conditioners. However, GMG has since proved with third party verification that the product can also enhance the heat transfer of new equipment; hence the re-branding to THERMAL-XR ENHANCE. As a result, GMG now believes that THERMAL-XR® ENHANCE has exciting opportunities with HVAC Original Equipment Manufacturers ("OEMs") in addition to its potential in the HVAC aftermarket. Over the past several months, GMG has completed on-site testing of THERMAL-XR with global Air Conditioning Manufacturers in China and the USA for potential introduction into their factories. While further customer testing will be required, GMG believes early results are promising. Apart from applications in the HVAC industry, the unique heat transfer capabilities of THERMAL-XR ENHANCE has also led to potential new applications in a wide range of industries where reducing heat is important. For example, customer managed Third Party Laboratory Testing with THERMAL-XR is now being done with companies that operate LNG facilities; companies that manufacture electronic products; and companies that produce motors for the industrial and automotive markets. Further testing will be required to confirm the benefits of using THERMAL-XR® ENHANCE in such applications. As previously announced, GMG and Nu Calgon have signed an agreement and are working with a consultant to
prepare and submit a Pre-Manufacture Notice ("PMN") in conjunction with its USA Environmental Protection Agency's ("EPA") application to import and sell in the USA. The PMN application is expected to be submitted
before the end of October, and the approval is expected to take less than 12 months. The PMN will be substantially different from the Low Volume Exemption ("LVE") PMN that was previously submitted by GMG.
Unlike the LVE PMN application that was limited to 10 tons per annum and one application technique in the HVAC sector, the PMN EPA approval that GMG is now seeking will not be limited by volume, application and any one
particular sector. New Risk • Oct 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$7.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$7.7m free cash flow). Earnings have declined by 12% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Revenue is less than US$5m (AU$6.2m revenue, or US$4.3m). Market cap is less than US$100m (CA$58.1m market cap, or US$43.0m). Reported Earnings • Oct 01
Full year 2024 earnings released: AU$0.086 loss per share (vs AU$0.12 loss in FY 2023) Full year 2024 results: AU$0.086 loss per share (improved from AU$0.12 loss in FY 2023). Net loss: AU$7.40m (loss narrowed 21% from FY 2023). Revenue is forecast to grow 70% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electrical industry in Canada. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Sep 11
Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 25, 2024 Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 25, 2024. Announcement • Jun 15
Graphene Manufacturing Group Ltd has filed a Follow-on Equity Offering in the amount of CAD 20 million. Graphene Manufacturing Group Ltd has filed a Follow-on Equity Offering in the amount of CAD 20 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • May 27
Third quarter 2024 earnings released: AU$0.026 loss per share (vs AU$0.032 loss in 3Q 2023) Third quarter 2024 results: AU$0.026 loss per share (improved from AU$0.032 loss in 3Q 2023). Net loss: AU$2.24m (loss narrowed 15% from 3Q 2023). Revenue is forecast to grow 78% p.a. on average during the next 3 years, compared to a 28% growth forecast for the Electrical industry in Canada. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Announcement • May 08
Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 3.024 million. Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 3.024 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 7,200,000
Price\Range: CAD 0.42
Discount Per Security: CAD 0.0294 Reported Earnings • Feb 29
Second quarter 2024 earnings released Second quarter 2024 results: Net loss: AU$2.87m (loss widened 61% from 2Q 2023). Announcement • Feb 02
Graphene Manufacturing Group Ltd. Provides Commercialisation Update on Energy Savings Coating THERMAL-XR Graphene Manufacturing Group Ltd. announced Nu-Calgon has held its official launch of the CoolWorx powered by GMG Graphene in the USA at the AHR Expo, one of the largest expositions for the Heating, Venting, Air-Conditioning and Refrigeration (HVAC-R) industry in North America, with over 1,600 HVAC-R manufacturers exhibiting their products and services to more than 50,000 visitors in Chicago, USA, from the 22nd to 24th January 2024. The product was launched under the new joint brand name "Nu-Calgon CoolWorx powered byGMG Graphene". The joint brand was in line with GMG's PRODUCT COMMERCIALISATION PROCESS, CORPORATE GROWTH & CHANNEL STRATEGY outlined in the Company's announcement on the 6th September 2023. THERMAL-XR Canada Approval: The Department of Environment and Climate Change Canada (ECCC) has noted that THERMAL-XR, powered by GMG Graphen, is approved for import and use within Canada. This paves the way for Canadian businesses, operating in HVAC-R industry, to access this cutting-edge coating solution through North American Distributor Nu-Calgon. THERMAL-X R USA Approval: THERMAL-XR is progressing through the USA Environmental Protection Agency's (EPA) approval process to import and sell in the USA. All the required documentation has been submitted, and the EPA has assigned a case number as part of the thorough evaluation of the product's safety and environmental impact. The Company believes the anticipated approval will be received in first quarter 2024. 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 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. Recent Insider Transactions • Dec 08
Founder recently sold CA$247k worth of stock On the 6th of December, Craig Nicol sold around 170k shares on-market at roughly CA$1.45 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Craig's only on-market trade for the last 12 months. New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Earnings have declined by 13% per year over the past 5 years. Revenue is less than US$1m (AU$812k revenue, or US$541k). Minor Risks Shareholders have been diluted in the past year (6.0% increase in shares outstanding). Market cap is less than US$100m (CA$117.4m market cap, or US$86.6m). Announcement • Oct 25
Graphene Manufacturing Group Ltd Appoints Jack Perkowski to Chair of Board of Directors Graphene Manufacturing Group Ltd. advised that Company Director Mr. Jack Perkowski, based in New Jersey USA, is appointed by the Company's board of directors as Chairman of the Board effective October 24, 2023. Upon graduation from Yale and the Harvard Business School, Mr. Perkowski spent twenty years on Wall Street as Head of investment banking at Paine Webber, a major securities firm that was eventually acquired by UBS in 2000. In 1991, Mr. Perkowski moved to Hong Kong in order to focus on the development of Asia and China, and in 1994 founded Beijing based ASIMCO Technologies. From 1994 to 2008, Mr. Perkowski served as the Chairman of ASIMCO'sBoard of Directors and the company's Chief Executive Officer, building ASIMCO into one of the most important players in China's automotive components industry. Under Mr. Perkowski's leadership, ASIMCO gained a reputation for developing local management and integrating a broad-based China operation into the global economy. ASIMCO was later sold to a private equity firm in 2010 and is still regarded as one of the most successful automotive component manufacturing companies in China. Upon leaving ASIMCO, Mr. Perkowski founded JFP Holdings, a merchant banking firm focused on China, where he now serves as Chairman. Announcement • Oct 17
Graphene Manufacturing Group Ltd Announces Board Resignations Graphene Manufacturing Group Ltd. announced that Emma FitzGerald, Guy Outen and Robert Shewchuk are not standing for re-election to its board. Reported Earnings • Oct 12
Full year 2023 earnings released: AU$0.12 loss per share (vs AU$0.15 loss in FY 2022) Full year 2023 results: AU$0.12 loss per share (improved from AU$0.15 loss in FY 2022). Net loss: AU$9.32m (loss narrowed 21% from FY 2022). Revenue is forecast to grow 69% p.a. on average during the next 3 years, compared to a 33% growth forecast for the Electrical industry in Canada. Announcement • Sep 21
Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 28, 2023 Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 28, 2023. Announcement • Sep 09
Graphene Manufacturing Group Ltd Appoints Jack Perkowski to Its Board of Directors Graphene Manufacturing Group Ltd. advised 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. Announcement • Aug 17
Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 3 million. Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 3 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 1,764,706
Price\Range: CAD 1.7
Discount Per Security: CAD 0.102 New Risk • Aug 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Revenue is less than US$1m (AU$131k revenue, or US$85k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Market cap is less than US$100m (CA$131.7m market cap, or US$97.6m). Announcement • Jun 28
Graphene Manufacturing Group Ltd Announces Bob Galyen to Its Board of Directors, Effective 1 July, 2023 Graphene Manufacturing Group Ltd. announced that Mr. Bob Galyen, based in Indiana USA, will join the Company's board of directors effective 1 July, 2023. Mr. Galyen has been an advisory member of the Company's Technical Advisory Committee since June 2022. Mr. Galyen has global experience as a leading executive in the battery energy storage industry and science/engineering-based communities. Among his many roles Bob has been the Chief Technology Officer of Contemporary Amperex Technology Company Limited (CATL), which is the lithium ion battery manufacturer in the world, was Chair of the SAE International Battery Standards Steering Committee and is CTO and Chairman Emeritus of NATTBatt International. He serves on a number of Committees and Advisory Boards. New Risk • Jun 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$17m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$17m free cash flow). Revenue is less than US$1m (AU$250k revenue, or US$169k). Minor Risk Shareholders have been diluted in the past year (4.2% increase in shares outstanding). Announcement • Feb 15
Graphene Manufacturing Group Ltd. Receives Regulatory Approval to Enable Significant Commercial Sales Graphene Manufacturing Group Ltd. announced the full and final approval of all GMG's Graphene products from the Australian Industrial Chemicals Introduction Scheme (AICIS) of the Australian Government Department of Health and Aged Care under Assessment statement CA09624. AICIS approval allows GMG to significantly increase the production and sale of GMG graphene-enhanced products including: Coatings: THERMAL-XR® and other industrial coatings as developed; Automotive Fluids: G® LUBRICANT, G® COOLANT and other automotive liquids as developed; Fuel: G® DIESEL; and Batteries: including for GMG's Graphene Aluminium Ion Battery. This AICIS approval will enable the fulfilment of targeted THERMAL-XR® and G® LUBRICANT sales to industrial customers in Australia and in countries where no further international approvals are needed. Prior to this approval only smaller volumes to a restricted customer list were permitted. The subsequent targeted development of other GMG products, including Graphene Aluminium ion batteries, will similarly be enabled by AICIS with this approval although the battery will likely need further testing and approval to international battery standards and regulations before sale. The following conditions apply to this AICIS approval: 10 tonnes per annum of total graphene powder. Products are to be used in a professional setting except for batteries which can also be sold to end consumers directly. Certain maximum percentages are allowed per product type. Environmental compliance requirements including no discharge to water ways. Announcement • Jan 11
Graphene Manufacturing Group Ltd Announces Executive Changes Graphene Manufacturing Group Ltd. (GMG) announced that Bobby Bran has been promoted to the role of Chief Projects Officer, leading the combined Technology and Projects teams. Bobby has been with GMG for over 4 years most recently as Production Manager and Head of Major Projects. Mr. Bran has over 10 years of experience delivering large-scale multi-million-dollar civil engineering projects on behalf of several major contractors. Bobby has experience in a diverse range of disciplines with expertise in project leadership and management - including safety in construction. Jeffrey Morris former Chief Technology Officer has left GMG to pursue other opportunities and the company, him for his tireless efforts over the last two years to progress the automation and development of the graphene production process. Announcement • Dec 22
Graphene Manufacturing Group Ltd Announces Executive Changes Graphene Manufacturing Group Ltd. announced the appointments of Lisa Roobottom as Chief Operating Officer (COO) and Paul Mackintosh as Chief Health, Safety, Environment, Quality, Risk and Sustainability Officer (Chief HSE, Risk &Sustainability Officer), effective on January 30, 2023 and February 6, 2023 respectively. Lisa and Paul will be members of GMG's senior executive leadership team reporting to, and working closely with, CEO Craig Nicol. Lisa Roobottom has a career in the Oil &Gas and Manufacturing industries spanning approximately 30 years, working in a number of roles include Refinery Operations Manager and National Health, Safety &Environment Manager at various companies including Caltex, Ampol, Australian Laboratory Services and, most recently, Alpha HPA. Paul Mackintosh has over 20 years of experience in fulfilling senior roles in the Health, Safety and Environment function. Mr. Mackintosh has worked for large organizations in the mining, energy, manufacturing and oil and gas industries including senior positions at Arrow Energy, Origin Energy, Brickworks and Caltex, as well as with Coles Myer retail and energy divisions. GMG's current COO, Sheena Ward, has successfully overseen both roles as COO and Chief HSE, Risk &Sustainability Officer through GMG's recent development phase. With GMG's growth plans currently underway, the Company has deemed it appropriate to now divide the roles. Sheena will be primarily responsible for onboarding both Lisa and Paul, after which Sheena intends on transitioning out of the Company to spend more time with her family. Announcement • Dec 01
Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 5.00225 million. Graphene Manufacturing Group Ltd has completed a Composite Units Offering in the amount of CAD 5.00225 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 1,819,000
Price\Range: CAD 2.75
Discount Per Security: CAD 0.165 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Chairman Guy Outen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 27
Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 24, 2022 Graphene Manufacturing Group Ltd, Annual General Meeting, Nov 24, 2022, at 14:00 Pacific Standard Time. Agenda: To receive and consider the audited consolidated financial statements of the Company for the year ended June 30, 2022 together with the auditor's report thereon; to elect directors for the ensuing year; to appoint BDO Audit Pty Ltd. as the Company's auditors for the ensuing fiscal year at a remuneration to be fixed by the directors; to consider and, if thought fit, to pass, with or without variation, an ordinary resolution to approve the Company's 10% rolling stock option plan; to consider and, if thought fit, to pass, with or without variation, an ordinary resolution to approve the Company's share incentive plan; and to transact such further or other business as may properly come before the Meeting and any adjournments thereof. Announcement • Aug 25
Graphene Manufacturing Group Ltd Announces Executive Appointments Graphene Manufacturing Group Ltd. provide an update to the composition of the Company's board of directors and company secretary roles which will support the Company as it proceeds into its next phase of development. Mr. Frederick Kotzee recently joined the Company as Chief Financial Officer and will now join the board of directors. Frederick is a chartered accountant with more than 20 years of public company experience leading financial operations and strategic planning for multinational companies. Through his career, Frederick has held various positions in the Anglo AmericanGroup where his roles included General Manager of Corporate Finance, Head of Business Development at Anglo Platinum and then Chief Financial Officer of Kumba Iron Ore Limited, listed on the Johannesburg stock exchange. Frederick was the CFO of the Australian listed Kidman Resources Limited, a lithium project developer, where he successfully secured financing and offtake agreements with large battery purchasing companies as well as supporting the company's ultimate acquisition by Wesfarmers Limited for more than $750 million. Anjana Reddy is the current General Manager Business Services of the Company, she oversees legal, commercial and HR functions, and has been appointed as a Company Secretary. Anj hasbroad experience across a number of industries, previously holding senior Commercial roles for Coca-Cola Amatil, Queensland Government owned Electricity Generator Stanwell and Middle East construction JV Habtoor Leighton Group. Most recently Anj was the Manager Commercialand Contracts for IOR Petroleum. Anj has a Bachelor of Science and Law with First Class Honours from James Cook University, a Masters in Commercial and Contracts Law from University of Melbourne, a Masters of Business Administration from University of Queensland, Principles ofInternational Law from Harvard Extension School. Announcement • Jul 19
Graphene Manufacturing Group Ltd Appoints Frederick Kotzee as Chief Financial Officer, Effective July 25, 2022 Graphene Manufacturing Group Ltd. announced the appointment of Frederick Kotzee as chief financial officer (CFO), effective July 25th, 2022. Mr. Kotzee joins GMG as an experienced CFO having worked with a number of resource and industrial related companies in Australia and South Africa. Mr. Kotzee will be a member of GMG’s leadership team reporting to and working closely with CEO, Craig Nicol. Mr. Kotzee is a chartered accountant with more than 20 years of public markets company experience leading financial operations and strategic planning for multinational companies. Through his career, Mr. Kotzee has held various positions in the Anglo American Group where his roles included General Manager of Corporate Finance, Head of Business Development at Anglo Platinum and then Chief Financial Officer of Kumba Iron Ore Limited, listed on the Johannesburg stock exchange. Mr. Kotzee was the CFO of the Australian listed Kidman Resources Limited, a lithium project developer, where he successfully secured financing and offtake agreements with large battery purchasing companies as well as supporting the company’s ultimate acquisition by Wesfarmers Limited for more than $750 million. Announcement • Jun 24
Graphene Manufacturing Group Ltd Announces Changes to Board of Directors Graphene Manufacturing Group Ltd. announce that Dr Emma FitzGerald will join the Company's board of directors, effective July 1, 2022. GMG also announces that current Director Robbert de Weijer will leave the Board and the Company effective July 15, 2022. Emma FitzGerald has 25+ years of leadership experience with global businesses in the Water and Energy Sectors. Most recently she was CEO of Puma Energy focused on delivering affordable and sustainable energy solutions to emerging markets in Africa, Central America and Asia. Prior to this she ran gas, water and waste networks for National Grid and Severn Trent in the UK. She also spent many years running Downstream Retail, Lubricants and LPG businesses for Shell plc. around the world. Over the last ten years she has served on the boards of publicly listed, privately owned and not for profit organizations in both Executive and Non Executive Director capacities. Emma is currently a Non-Executive Director of UPM Kymmene, Seplat Energy and Newmont Corporation. She is also a Mentor on the climate workstream for the Creative Destruction Lab, a not for profit organisation focused on the scaling of innovative solutions to accelerate energy transition. Emma has a PHD in surface chemistry/materials science from Oxford University and an MBA from Manchester Business School. Robbert de Weijer was a co-founder of GMG, joining the Company and Board in 2017. He has played a key role in the development of GMG's unique graphene production technology and its translation into operating processes. Robbert's passion for Health, Safety and Environment saw him drive and support key processes and initiatives as GMG experimented and grew. Robbert also developed and fostered a number of key technical and commercial partner relationships critical to GMG's success. Over the past year he has overseen the battery production programme before recently handing over responsibilities. Announcement • Jun 07
Graphene Manufacturing Group Ltd Announces Resignation of Chris Ohlrich as CFO Graphene Manufacturing Group Ltd. announced that after nearly six years with GMG, Chris Ohlrich, CFO has decided to leave the Company for personal reasons, since relocating to Melbourne with his family. The current Financial Controller for the Company, Deborah Appleton, will act as the interim CFO until the Company completes a comprehensive executive search for his replacement which is being carried out by executive search firm Russell Reynolds Associates. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Will Ollerhead was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 28
Non-Executive Director recently sold CA$172k worth of stock On the 20th of January, Robert Shewchuk sold around 41k shares on-market at roughly CA$4.25 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$614k. Insiders have been net sellers, collectively disposing of CA$858k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Jan 20
Non-Executive Director exercised options to buy CA$405k worth of stock. On the 11th of January, Robert Shewchuk exercised options to buy 100k shares at a strike price of around CA$0.55, costing a total of CA$55k. This transaction amounted to 400% of their direct individual holding at the time of the trade. As of today, Robert currently holds no shares directly. Company insiders have collectively sold CA$631k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jan 08
Independent Director recently sold CA$123k worth of stock On the 5th of January, William Ollerhead sold around 21k shares on-market at roughly CA$5.80 per share. In the last 3 months, there was an even bigger sale from another insider worth CA$614k. Insiders have been net sellers, collectively disposing of CA$686k more than they bought in the last 12 months. Recent Insider Transactions • Dec 25
CFO & Executive Director recently sold CA$614k worth of stock On the 22nd of December, Christopher Ohlrich sold around 110k shares on-market at roughly CA$5.58 per share. This was the largest sale by an insider in the last 3 months. This was Christopher's only on-market trade for the last 12 months. Announcement • Dec 24
Graphene Manufacturing Group Ltd. Aluminium-Ion Battery Prototypes Sent to Customers for Testing and Evaluation Graphene Manufacturing Group Ltd. announced that its graphene aluminium-ion batteries ("G+AI Battery") 2032 type coin cell prototypes have been sent to a number of prospective customers around the world. Coin cell testing to date has demonstrated that the GMG 2032 type G+AI Battery coin cell prototypes are fully rechargeable in several seconds, retain capacity for several thousand charge and discharge cycles, are non-flammable, and are relatively non-toxic and almost fully recyclable. These characteristics compare favourably against typical rechargeable Lithium-Ion 2032 type coin cells which take 3-6 hours to recharge, are toxic and can be quite harmful if ingested, are difficult to recycle, are flammable under certain conditions, and degrade more rapidly in performance. the company reported that further battery development, in collaboration with the University of Queensland, has increased the capacity of the G+AI Battery coin cells, when compared to earlier proof of concept prototypes. The Company is also currently in the process of developing the technology required to increase the voltage of the coin cell from approximately 1.7 Volts to 3.4 Volts - making the G+AI Battery better suited for interchangeable use in existing everyday personal devices. In addition to graphene manufactured by GMG, the Company also continues to test different grades of graphene from various sources for use in G+AI Batteries. GMG considers the performance characteristics of these prototypes clear enough to engage potential customers and industry partners for feedback on their commercial potential following subsequent further development. Announcement • Aug 27
Graphene Manufacturing Group Ltd. announced that it expects to receive CAD 0.899998 million in funding Graphene Manufacturing Group Ltd. announced private placement of up to 420,560 units at a price of CAD 2.14 per unit for gross proceeds of CAD 899,998 on August 26, 2021. Each unit consists of one ordinary share and one-half of one ordinary Share purchase warrant, with each warrant is exercisable at CAD 2.6 per share at any time on or before the date which is 36 months after the closing date. The transaction is expected to close concurrently with public offering on or about August 31, 2021 and will be subject to certain conditions including, but not limited to, closing of the offering and the receipt of all necessary approvals including the approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day from the date of issuance. The company may pay finders’ fees. 
