First Graphene Ltd. — AGM Information 2024

Nov 7, 2024

ASX ANNOUNCEMENT

8 November 2024

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Commercial outlook for FY2025 strengthens FGR’s global position

First Graphene Limited (ASX:FGR; “First Graphene” or “the Company”) is pleased to provide an update on the Company’s pipeline of opportunities for FY2025.

Global demand for the Company’s world-renowned PureGRAPH[®] includes commercial opportunities in high-growth and in-demand industries, supported by a growing distributor list.

First Graphene has also finalised preparations for full-scale production trials with UK’s largest cement producer Breedon of the Company’s PureGRAPH-CEM[®] product, scheduled to commence in January 2025.

This project, the pipeline of commercial opportunities in FY2025, and ongoing research and development work will further solidify First Graphene’s position as a leading global supplier of graphene.

First Graphene’s Chief Executive Officer and Managing Director, Michael Bell will provide further details during the Company’s Annual General Meeting (AGM) today:

• 1pm AEDT, Friday 8 November 2024 – The Grace Hotel Sydney

Mr Bell’s AGM presentation is available to view below for those unable to attend in person.

For further details about the 2024 AGM refer to the Notice of Annual General Meeting ASX announcement released 10 October 2024.

-Ends-

This release has been approved for release by the Chairman.

For further information please contact:

Investors

Michael Bell

Managing Director and CEO First Graphene Limited michael.bell@firstgraphene.net +61 1300 660 448

Media

Emily Evans

Senior Media Advisor SPOKE. emily@hellospoke.com.au +61 401 337 959

ASX ANNOUNCEMENT

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About First Graphene Ltd (ASX: FGR)

First Graphene Limited is focused on the development of advanced materials to help industry improve. The Company is a leading supplier of graphitic materials and product formulations with a specific commercial focus on large, high-growth global markets including cement and concrete; composites and plastics; coatings, adhesives, sealants and elastomers (CASE); and energy storage applications.

One of the key outcomes these advanced materials offer is the reduction of carbon dioxide emissions, whether directly through a reduction in output of these harmful greenhouse gases or lower energy usage requirements in manufacturing, or indirectly due to enhanced performance characteristics and extending the usable life of products.

First Graphene has a robust manufacturing platform based on captive and abundant supply of high-purity raw materials, and readily scalable technologies to meet growing market demand. As well as being the world’s leading supplier of its own high performance PureGRAPH[®] graphene product range, the Company works with multiple industry partners around the world as a supplier of graphitic materials and partner to research, develop, test and facilitate the commercial marketing of a wide range of sector-specific chemical solutions.

First Graphene Ltd is publicly listed in Australia (ASX:FGR) and has a primary manufacturing base in Henderson, near Perth, WA. The Company is incorporated in the UK as First Graphene (UK) Ltd where it has a strong R&D capability.

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AGM Presentation

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PureGRAPH[®] - revolutionising material performance and providing low carbon solutions for a greener future

NOVEMBER 2024

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ASX:FGE - INVESTOR PRESENTATION

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Agenda

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• Financials - FY2024 performance commentary and key highlights

• PureGRAPH[®] Manufacturing – key changes to the manufacturing process and what impact will these have

• Expanding distributor network – adding established materials additive distributors globally

• Commercial applications – growing pipeline for PureGRAPH[®] in polymers, coatings, construction chemicals and textiles

• Cement/Concrete – segment update and progress across technologies

• Research & Development – significant developments and grant funding

• Future outlook – core focus points for First Graphene in the FY25

• Questions

ASX:FGR - AGM FY2024 PRESENTATION

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Financial performance

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Commercial momentum

• Continued to increase sales order volumes and diversify production applications

• Strong outlook pipeline with multiple customer product launches in FY25/26

• Leveraging established distributors to optimise customer quality and speed to market

Decreasing cash burn

• Ongoing reduction in cash burn materially assisting in improving cashflow

• Recategorised to report PureGRAPH[®] revenue, R&D revenue and grant funded program income separately

• Continued optimisation in FY25, including financial impact of exiting the GEIC, and strong growth in all revenue streams

Forward outlook FY25

• Forward looking income of circa A$2.5M from ongoing customer relationships which are now starting to generate recurring revenue, R&D Tax refunds and grant funded programs

• Execution of existing pipeline of opportunities and larger scale developments

• Grant funded programs all supplementing existing customer development activities

Topline Sales ($million)

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$0.86
$0.72
$0.50
$0.34
$0.29
$0.02
2019 2020 2021 2022 2023 2024
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Operating & Investing Cash-Outflow
($million)
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2019 2020 2021 2022 2023 2024
($2.87)
($3.54)
($4.40)
($6.10)
($6.40)
($7.19)
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ASX:FGR - AGM FY2024 PRESENTATION

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Note: Refer to 2024 Annual Report for more details 1: Current as of 11 October 2024

PureGRAPH[®] Manufacturing

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• Secure supply of high-quality raw graphite material

• ▪ Sourced from FGR’s graphite mining facilities in Sri Lanka (DSO)[1]

• ✓ [Secure supply] ▪ Alternative feedstock identified from commodity flake graphite

• Operational facility with 100 tpa capacity in Henderson, WA

• Established ▪ Minimal capex required to scale plant to 1,000tpa

• ✓ manufacturing ▪ Mature process, continued focus of efficiency and cost reduction

• Single-step electrochemical exfoliation process

• Proprietary ▪ High-yield graphite-to-graphene conversion rates of >95%, providing

• ✓ Manufacturing significant operating cost advantage process ▪ Patented/trade-secreted process

• ▪ Full quality and product accreditations, including REACH UK & EUROPE, ACIS

• ✓ Fully accredited Australia ▪ Pending EPA in the US

Accessible and ▪ >30 existing customers – with expanding use case ▪ Numerous trials with blue chip global partners underway at various ✓ growing end development and commercial stages market ▪ >500 of inbound interest for samples and trials

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ASX:FGR - AGM FY2024 PRESENTATION

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1. FGR is currently buying feedstock from a Government-owned mine. Under its current mining license, FGR has the ability to develop more tonnes of graphite to support any plant expansion.

PureGRAPH[®] Manufacturing

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ASX:FGR - AGM FY2024 PRESENTATION

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PureGRAPH[®] Manufacturing

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Electrochemical Cell Optimisation Phase Two Trials

• Increase in production rate by 32% from Phase One Trial, overall increase of ~100% from starting baseline

• Reduced specific power consumption by ~25% from Phase One, overall decrease of ~60% from starting baseline

• Implementation of Electrochemical Cell basket upgrades underway to implement savings

Retsch Mill Commissioning

• Reduced d90 of Particle Size Distribution (tighter control of size limits)

• Increased overall bulk density and surface area of particles

• Overall d50 Particle Size Distribution created at a far more efficient manner than previous

Acid Neutralisation of PureGRAPH[®]

• Implemented process to neutralise residual acid content within finished PureGRAPH[®] powder and aqua

• Creates more few-layered, de-agglomerated graphene with high surface area and consistent morphology

• Surface area of PureGRAPH[® ] has doubled from original materials, creating a noticeable improvement in performance

Overall impact - reduced manufacturing cost, higher gross margin, increased capacity, and higher success rate in customer trials

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Left – New process

Right – Old process (6gm of PureGRAPH[®] 50)

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Commercial Manager Neil Armstrong with the Retsch grinding mill.

ASX:FGR - AGM FY2024 PRESENTATION

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Expanding distribution network

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Extensive distribution strengthening global exposure and uptake of PureGRAPH[®]

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• North America

• ▪ Europe

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▪
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• South Africa

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• New Zealand and Australia

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▪ New Zealand (Cement/Concrete only)

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Continued distributorships under consideration in South Korea, UK, South America, Middle East, SEA, China and Canada

ASX:FGR - AGM FY2024 PRESENTATION

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Distributor application pipeline

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33
25
11
10 10
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Direct pipeline of ~500 opportunities including ~100 in the Cement/Concrete segment

• Well-developed applications across established customer bases in Europe, Australia and New Zealand

• More than 10 opportunities in advanced stage trials or approvals

• Opportunities in United States are all early stage, typically driven by EPA approval process

• Cement/Concrete segments in South Africa and New Zealand are developing

Legend

■ Adhesives

• Composites, Plastics, and Thermosets

• Construction Chemicals / Materials

• Inks

• Decorative Coatings

• Flooring ■ Paper and Foil Coatings

• Other

• Industrial Coatings

ASX:FGR - AGM FY2024 PRESENTATION

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Global market growth pipeline

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2. Bearing lubricants 4. Adhesive tapes 6. Elastomeric 9. Moisture barrier 10. Moisture barriers
waterproof coatings & filtration
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1. Sports apparel
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3. PET Packaging 5. Recycled nylon 8. Anti-corrosion 9. Fire retardant
friction & lubrications coatings construction materials
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REGION	Brazil	Europe	India	Germany	UK	Australia	UK	Indonesia	UK	Europe
VOLUME	Up to 500kg p.a.	Up to 500kg p.a.	>1,000kg p.a.	Up to 1,000kg p.a.	Up to 1,000kg p.a.	100kg p.a.	Up to 500kg p.a.	>6,000kg p.a.	>500kg p.a.	Up to 500kg p.a.
TIMEF FRAME	Product launch Q2 FY25	Product launch Q2 FY25	Product launch Q3/Q4 FY25	Product launch Q3 FY25	Product launch Q3 FY25	Product launch Q3 FY25	Product launch Q3/Q4 FY25	Product launch Q4 FY25	Product launch Q4 FY25	Product launch Q4 FY25

ASX:FGR - AGM FY2024 PRESENTATION

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Cement/Concrete

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Figure 1.
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Cement additive development

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• Completed the development of PureGRAPH-CEM[®] , an aqueous dispersed cement additive

• Independently verified results show up to 16% improvement in early-stage compressive strength

• Completed development of a suitably industrialised pump (see Figure 1.) to dispense PureGRAPH-CEM[®]

Breedon Phase Three Trial (January 2025)

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• Full scale production trial involving 3.2 tonnes of PureGRAPHCEM[®] manufacturing minimum 500 tonnes of cement

Revised conveyer dosing point, ahead of last cement manufacture milling stage

• Cement will be used by Morgan Sindall Infrastructure for a UK concrete road project, as well as several precast and paving applications

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Other developments

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• Completed development of stabilised liquid admixtures for concrete - current shelf life of several months, with work ongoing to extend this

• Currently working with over 30 cement and concrete companies globally to trial both PureGRAPH[®] and PureGRAPH-CEM[® ] in a variety of applications

Rotary ball mills for the last stage of milling at Breedon’s Hope Works plant.

Slab coring and inspection of wear during Phase Two trials.

ASX:FGR - AGM FY2024 PRESENTATION

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Note: Refer to 2024 Annual Report for more details 1: Current as of 11 October 2024

Research & Development – Grant Programs

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HyPStore

• AUD$397,000 over 21 months to create a graphene-enhanced polymer binder for Type-V Hydrogen Tanks.

• Supports development of all PureGRAPH[®] polymer opportunities.

CRCP R2R

• AUD$188,000 over 18 months to develop graphene-based electrodes for low-cost photovoltaic cells produced using a roll-to-roll process.

• Supports all coating and electrode opportunities.

Structure of cryogenic hydrogen tanks produced in HyPStore project.

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CEAMS

• Match-funded AUD$144,000 to demonstrate use of metal-oxide doped graphene in the generation of green hydrogen.

• Supports all projects using metal-oxide doped graphene, such as supercapacitors, perovskite solar cells and electrocatalysts.

Kainos Technology

• AUD$58,000 over 6 months to design scale-up model of FGR’s Kainos Technology, producing graphene, graphite and hydrogen.

• Supports ongoing Kainos Technology development work.

(L) - Structure of graphene-enhanced perovskite solar cells.

(R) – Perovskite solar cell from Halocell Energy.

ASX:FGR - AGM FY2024 PRESENTATION

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Note: Refer to 2024 Annual Report for more details 1: Current as of 11 October 2024

Research & Development – Other

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New Product Development

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• Ongoing product roadmap development and commercial launch

• Revenue generating customer development programs

• Patent management

Core Research & Development

• Ongoing cost reduction, capacity increase and overall manufacturing efficiencies

• Development and optimisation of electro-chemical exfoliation process

• Drive innovation through functionalised or tailored graphene

Commercial & Distributor Engagement

• Support clients with material selection, dispersion methods and results analysis

• Training and on-boarding of expanding distributor networks

• Delivering Tier Two technical support for distributors, with direct end client interface

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FGR’s UK-based R&D team visiting the Henderson facility in September.

Transition from GEIC

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• Transition into laboratory and office facility in Manchester from 1[st] December 2024

• Forecasted cost reduction of circa AU$300,000 per annum

• Currently occupying a temporary transitional facility

ASX:FGR - AGM FY2024 PRESENTATION

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Note: Refer to 2024 Annual Report for more details 1: Current as of 11 October 2024

What does FY2025 hold?

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ACCELERATE COMMERCIAL OPPORTUNITIES

Advance and expand green-materials technology commercial opportunities for high-growth and indemand industries

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CEMENT MARKET POSITION

Accelerate additional large scale infrastructure projects and maximise Development and Commercialisation agreement with UK’s largest cement producer, Breedon

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ONGOING R&D OPTIMISATION

Further advancing targeted R&D opportunities with global research partners to realise benefits of graphene for commercialisation

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EXPAND GLOBAL DISTRIBUTION NETWORKS

Amplify existing networks and secure additional partnerships for distribution and investment

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MAXIMISE EXISTING AGREEMENTS

Leverage product research and development services to engage with current and future partners

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OPTIMISE SCALABLE PRODUCTION CAPABILITY

Further optimisation to refine production processes, improve efficiencies, reduce carbon footprint and decrease output costs

ASX:FGR - AGM FY2024 PRESENTATION

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Forward looking statements & disclaimer

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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.

ASX:FGR - AGM FY2024 PRESENTATION

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Corporate Headquarters & Manufacturing Plant

1 Sepia Close, Henderson Western Australia 6166

P. +61 1300 660 448

Global R&D & Marketing Facility

Pariser Building 87 Sackville Street Manchester M1 3NJ, United Kingdom

P. +44 (0)161 826 2350

FIRSTGRAPHENE.NET

info@firstgraphene.net

ASX:FGE - INVESTOR PRESENTATION

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