First Graphene Ltd. — Capital/Financing Update 2011

Apr 11, 2011

12 April 2011

STRICTLY PRIVATE AND CONFIDENTIAL

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ABN 50 007 870 760

The Manager Company Announcements Office ASX Limited Level 45, South Tower, Rialto 525 Collins Street MELBOURNE VIC 3000

C/-Salmon Giles Pty Ltd Level 2 409 St Kilda Rd Melbourne VIC 3004

T (03) 9820 2322 F (03) 9820 2158

ROBE ANNOUNCES PLACEMENT TO STRATEGIC INVESTOR AND RIGHTS ISSUE

Robe Australia Limited ( Robe ) today announces that it has reached agreement with Cunningham Peterson Sharbanee Securities Pty Ltd ( CPS ) to place 100 million fully paid ordinary shares at $0.005 per share with a 1:1 free attaching option with an exercise price of 1 cent on or before 31 December 2014 ( Placement ).

In addition, CPS will fully underwrite a proposed 2:3 Rights Issue to Robe shareholders at $0.005 per share with a 1:1 free attaching option with an exercise price of 1 cent on or before 31 December 2014 (Rights Issue ). The record date for the Rights Issue is proposed to be in mid to late May 2011. Application will be made for the quotation of the options on ASX.

In respect to the Placement, CPS or its clients will unconditionally subscribe for 25 million shares at an issue price of $0.005 per share raising approximately $125,000 ( Unconditional Placement ). This Unconditional Placement is expected to be completed by 15 April 2011. Subject to Shareholder approval, CPS or its clients will conditionally subscribe for an additional 75 million shares at $0.005 per share with a 1:1 free attaching option with an exercise price of 1 cent on or before 31 December 2014, which will raise approximately an additional $375,500 for Robe. A Shareholder meeting to approve this additional placement and the granting of 25 million free attaching options with an exercise price of 1 cent on or before 31 December 2014 in respect to the Unconditional Placement is likely to be held in early to mid May 2011.

It is proposed the shares conditionally placed will participate in the Rights Issue.

The unconditional and conditional Placements will raise approximately $500,000 for Robe. In addition, the Rights Issue will raise approximately a further $900,000 (before costs).

Subject to the conditional Placement being approved by Robe shareholders, a representative of CPS is expected to be invited to join the Board of Robe.

Finally, CPS has undertaken in consultation with the Board and other Robe advisors to identify appropriate assets to be acquired by Robe in due course. The Board of Robe has also retained the right to deal with third parties with respect to a potential acquisition of an asset. Shareholders will be informed of developments regarding any potential acquisition in due course.

Yours faithfully

Peter Reilly Chairman