First Graphene Ltd. — AGM Information 2022

Oct 16, 2022

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Annual General Meeting 2022 CEO Presentation

AGM PRESENTATION

17 OCTOBER 2022

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REVISED BRANDING

• Modernisation of FGR branding and logo, reflecting a general change in Company initiatives, focus points and overall path to success

• In line with revised business strategy from being known as a “Mining Company” to a more representative “Materials Technology Company”

• Also intended to reflect the shift from R&D to commercially focused supplier

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Low-key and subtle change, completed at no additional cost
Will be rolled out across platforms, communications, branding and documentation
INVESTOR PRESENTATION 2
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• Low-key and subtle change, completed at no additional cost

• Will be rolled out across platforms, communications, branding and documentation during FY23

ASX:FGR - INVESTOR PRESENTATION

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ANNUAL REVENUE

(FY 2019 - 2022)

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FY22

A$0.72m

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Production optimisation

• Resourcing to meet demand

• Process optimisation to reduce cost

Financial strengthening

• Sales revenue +111%

• Operating profit +20%

Segment focus

Cement & Concrete

• Reduction in CO2 emissions

• Process flexibility to cater for custom-made products

FY21

• A$0.34m • Process evolution to move to downstream products

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FY20 A$0.29m

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FY19 A$0.02m

• Operating and investing cashflow +48%

• Capital expenditure -94%

Segment Revenue Split FY22

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Other 9%
CASE 9%
Cement &
Concrete Composites
19% & Plastics
63%
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• Improved strength, durability, performance

Composites & Plastics

• Performance enhancing additives including thermally and electrically conductive polymers, enhanced recyclability

Coatings, Adhesives, Sealants, Elastomers & Foams

• Performance enhancing additives including fire retardant foams & coatings, mechanically enhanced rubbers & elastomers

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One. REVENUE GENERATION

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INDUSTRY FOCUS

• Industry specific salespeople driving a revenue pipeline based on having “the right” to participate and be an authority in our segments

• Growing global exposure through distributors and strategic partnerships

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R&D RESOURCING

• Material scientists and chemists to accelerate industry specific applications

• Developing intellectual property to protect our position and success in our segments

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WORLD CLASS PRODUCTION

• Capacity, capability & know-how to support production of standard, bespoke and downstream products

• Consistent process optimisation to enhance quality, increase capacity and reduce costs

• World-class customers committed to adopting graphene

Two. STRATEGIC R&D OF FUTURE TECHNOLOGIES

Three. COST CONTROL

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STRATEGIC TECHNOLOGY

• R&D of core technologies that strategically align to company’s focus

• Linked to Graphene/Graphitic materials and long-term, high-value applications

• Supercapacitor materials, hydrodynamic cavitation, catalytic heating and perovskite solar cells

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EXTERNAL FUNDING

• Application and execution of external grant funding to continue development of future technologies

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FINANCIAL COMMON SENSE

• Strategic management of funding

• Balance of frugality and careful not to stifle innovation or growth

• Leverage external grant funding opportunities to accelerate both strategic R&D and client-driven application development

ASX:FGR - INVESTOR PRESENTATION

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Revenue streams

Current key activities

FY23 expectations

• Grinding aids to lower CO2 emissions by 20%

• Admixtures to improve the strength and durability of concrete including sulphate driven erosion

• Current client opportunity base accounts for ~12,600t

• Drivers: Key construction chemical companies

• Working through Innovate UK-funded, commercial scale consortium project to develop green cement with Breedon Group, Morgan Sindal Infrastructure and Manchester University

• Second commercial trial pending with key European construction chemicals company

• Engaging key global construction companies and major local chemical companies

• Complete commercial scale trials

• Joint marketing of client product launches

• Extend collaboration to top 5 key construction chemical companies

• Commence commercial scale application trials using PureGRAPH[®] enhanced concrete designs

• Commercial client grinding aid launch

• Launch of PureGRAPH[®] enhanced shotcrete product HexMortar[TM] by GtM Action, and AM by Nanoproof/Glade Chemicals

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Revenue streams

Current key activities

FY23 expectations

• Aqua Technics PureGRAPH[®] enhanced FRP swimming pool range

• Senergy Innovations development and commercialisation of PureGRAPH[®] enhanced solar thermal cells

• Growth of PureGRAPH[®] enhanced masterbatch range

• Working in collaboration with Senergy Innovations to upscale production and commercialise their PureGRAPH[®] enhanced solar thermal cells

• Continued development of PureGRAPH[® ] enhanced HDPE range and other specialised compounds in collaboration with compounding partners globally

• Launch of solar thermal cells alongside commercial scale trials in locations through the UK and EU. Increasing demand for PureGRAPH[®] 50 powder

• Completion of commercial scale trials with key partners to demonstrate the market potential of PureGRAPH[®] and open new revenue streams

• Launch of new PureGRAPH[®] enhanced products through compounding partners

• Continued development of PureGRAPH[®] enhanced PET masterbatch for reduced energy consumption in large-scale packaging applications

• Increased collaboration with global compounding partners and formulators to leverage market knowledge and expand graphene’s application range

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Revenue streams

Current key activities

FY23 expectations

• Next generation carbon enhancing industry targets in sustainability and smart solutions

• Graphene dispersions and bespoke solutions within Coatings, Adhesives, Sealants and Elastomer markets

• Expanding early adopter segments in wear protection alongside construction chemicals for waterproofing membranes

• Extended trials in enhanced footwear and textile/apparel/PPE applications

• Complete commercial scale trials, with key players to signify next stage developments

• Extend brand value propositions in market with First Graphene while increasing footprint in the market

• Overall market stream potential to deliver above 0.01% of total addressable market volume (300KT based on current opportunity funnel)

• Final trials in downstream automotive aftercare products and anti-corrosion through strategic partnerships

• Trials to extend fire protection and light weighting of foams

• Agreements in place and working towards increased revenue

• Key market players identified and working scope to extend applications

• Production launch by textile coating client

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Strategic Technologies

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Current key activities

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FY23 expectations

• Supercapacitor materials – developing superior materials to existing activated carbon supercapacitors offering higher energy density and capacitance

• Hydrodynamic cavitation – green process for converting petroleum feedstock into synthetic, battery-grade graphite and clean hydrogen

• Unique heating device – developing unique heating device in conjunction with strategic partner to leverage graphene’s thermal performance

• Process development – optimisation of electrochemical cell for graphene production and reduction of manufacturing cost

• Supercapacitor materials – working in conjunction with experts at WMG to optimise coating formulations to apply to scale up devices (pouch cells)

• Hydrodynamic cavitation – exploring both commercial partnerships and grant funding options to build demonstration cavitation reactor. Continuing to build business case to aid in promotion of the technology

• Unique heating device – developing solution including graphene thermal fluids, thermal performance coating and thermally enhanced polymer

• Process development – continued optimisation trials and implementation of process changes to improve cost base, efficiency, capability and capacity

• Complete optimised supercapacitor pouch cell manufacture and cyclic testing. Identify commercial partner to advance program

• Complete and secure grant funding to advance development and manufacture of a demonstration cavitation reactor, and complete business case for technology promotion

• Complete concept development of graphene enhanced efficient heating device and begin marketing to utility companies within the UK

• Complete optimisation trials and implement process change to target a circa 30% cost reduction of the manufacture of PureGRAPH[®] . Continue to further optimise manufacturing process

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KEY MESSAGE SUMMARY

• Excellent progress made in FY22 by increasing revenue, reducing cost base, and advancing key application developments

• Clear priorities within FY23 being as follows

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Revenue generation - leveraging industry qualified experts (Commercial Managers), application validation by our industry best-in-class Materials Scientists and Chemists, and supported by our world-class manufacturing facility

Advance core strategic technologies with grant funding, commercial partners, and push towards revenue recognition

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Continued cost control to achieve a break-even point faster

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• This presentation has been prepared by First Graphene Limited (ACN 007 870 760) (“Issuer”) for the sole purpose of providing an overview of its current prospects and proposed development strategy to recipients (“Recipient”). This presentation and its contents are provided to the Recipient in confidence and may not be reproduced or disclosed in whole or in part to any other person, without the written consent of the Issuer.

• The presentation is based on information available to the Issuer as at the date of the presentation. The information contained in this presentation has not been verified by the Issuer nor has the Issuer conducted any due diligence in relation to that information. The presentation contains selected information and does not purport to be all inclusive or to contain all information that may be relevant to the Recipient. The Recipient acknowledges that circumstances may change and this presentation may become outdated as a result. The Issuer accepts no obligation to update or correct this presentation.

• This document includes forward-looking statements. When used in this document, the words such as "could," “plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although the Issuer believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.

• No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of the Issuer, its directors, employees or agents, advisers, nor any other person accepts any liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability arising from fault or negligence on the part of the Issuer or its directors, employees or agents. Nothing in this Presentation is a promise or representation as to the future. Statements or assumptions in this presentation as to future matters may prove to be incorrect and differences may be material. The Issuer does not make any representation or warranty as to the accuracy of such statements or assumptions.

• The information in this presentation does not take into account the investment objectives, financial situation and particular needs of any Recipient. The Recipient should not make an investment decision on the basis of this presentation alone and the Recipient should conduct its own independent investigation and assessment of the content of this presentation. Nothing in this presentation constitutes financial product, investment, legal, tax or other advice. Nothing in this presentation should be construed as a solicitation to buy or sell any security or to engage or refrain from engaging in any dealing in any security.

• Photographs, maps, charts, diagrams and schematic drawings appearing in this presentation are owned by and have been prepared by or commissioned by the Issuer, unless otherwise stated. Maps and diagrams used in the presentation are illustrative only and may not be drawn to scale. Unless otherwise stated, all data contained in charts, graphs and tables is based on information available at the date of this presentation. By accepting this presentation the Recipient agrees to be bound by the foregoing statements.

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1 Sepia Close, Henderson Western Australia 6166

P. +61 1300 660 448

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Graphene Engineering & Innovation Centre University of Manchester Sackville Street, Manchester M13 9PL, United Kingdom

P. +44 (0)161 826 2350

FIRSTGRAPHENE.NET

info@firstgraphene.net

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