First Graphene Ltd. — Capital/Financing Update 2017

Apr 23, 2017

18 April 2017

Dear Option Holder

EXPIRY OF LISTED OPTIONS (ASX CODE: FGROB)

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This letter is to notify you of the impending expiry of your FGROB Options in First Graphite Limited ( FGR ) at 5:00pm AEST on Sunday 21 May 2017 ( Expiry Date ).

The number of Options you hold is included in the enclosed option exercise notification.

In accordance with ASX Listing Rules, FGR provides you with the following information:

• (a) each Option entitles you to apply for one fully paid ordinary share in the capital of FGR; (b) the exercise price payable to exercise your Options by the Expiry Date is $0.10 per Option;

• (c) if you fail to exercise your Options prior to the Expiry Date, those Options will lapse and you shall have no further right or entitlement to those Options;

• (d) quotation of the Options on the Australian Securities Exchange ( ASX ) will end at close of trading on Tuesday, 16 May 2017;

• (e) the last available closing price of the listed shares in FGR prior to the date of this letter was $0.093;

• (f) the last available closing price of the Options prior to the date of this letter was $0.006;

• (g) the highest and lowest market sale price of FGR shares on ASX during the 3 months immediately preceding the date of this letter and the respective dates of those sales were:

Highest: $0.14 on 27 January 2017; Lowest: $0.09 on 4 April 2017;

• (h) the highest and lowest market sale price of Options on ASX during the 3 months immediately preceding the date of this letter and the respective dates of those sales were:

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Highest: $0.045 on23 January 2017; Lowest: $0.003 on 12 April 2017;

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(i) you can exercise all or part of your Options prior to the Expiry Date by providing to the Company your completed written exercise notice specifying the number of Options being exercised ( Exercise Notice ) (as attached to this letter) and a payment of funds for the total exercise price for the number of Options being exercised. The Exercise Notice will only be effective when the Company has received the full amount of the exercise price.

Instructions regarding the methods of payment are included in the enclosed option exercise notification.

If you have any questions in relation to any of the above, please contact Peter Youd on +61 1300 660 448.

Regards

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Peter R. Youd Executive Director, Chief Financial Officer & Company Secretary FIRST GRAPHITE LIMITED

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All Registry Communications to:

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PO Box 2226, Strawberry Hills, NSW 2012 1300 288 664 (within Australia) +61 (0)2 9698 5414 (outside Australia) hello@automic.com.au www.automic.com.au

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NOTICE OF EXERCISE OF OPTIONS EXPIRES AT 5.00PM (AEST) 21 MAY 2017

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Biller Code: 879478 Ref:

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