First Graphene Ltd. — Capital/Financing Update 2021

Jul 6, 2021

ASX ANNOUNCEMENT

==> picture [183 x 111] intentionally omitted <==

07 July 2021

Notification of Expiry of Listed Options

Advanced materials company, First Graphene Limited (“FGR” or “the Company”) (ASX: FGR) advises that the attached letter will be sent to registered holders of listed options (ASX: FGROC) (Options) which are exercisable at $0.25 on or before 5.00pm (WST) on 8 August 2021 (Expiry Date).

Official quotation of the Options on ASX will cease at close of trading on 2 August 2021, being four business days before the Expiry Date.

Holders of the Options can exercise all or part of their Options prior to the Expiry Date by providing the Company a completed written exercise notice specifying the number of Options being exercised and a payment of funds for the total exercise price for the number of Options being exercised.

The Board of the Company has authorised this announcement to be released to the ASX.

==> picture [41 x 71] intentionally omitted <==

ASX ANNOUNCEMENT

==> picture [183 x 111] intentionally omitted <==

07 July 2021

Dear Option Holder IMPORTANT INFORMATION / ACTION REQUIRED

Expiry of Listed Options (ASX: FGROC)

We are writing to you as a registered holder of listed options (ASX: FGROC) (Options) in First Graphene Ltd (Company) to remind you that the Options will expire at 5:00pm (WST) on 8 August 2021 (Expiry Date).

There is no obligation upon Option holders to exercise their Options. The courses of action available to you as a holder of these soon to expire Options are:

• a) Exercise your Options : If you wish to exercise your Options, you must complete the “Notice of Exercise of Options” (Notice of Exercise) form accompanying this letter and provide the completed Notice of Exercise together with payment of $0.25 per Option being exercised in accordance with the instruction set out in the Notice of Exercise.

Your completed Notice and payment (in cleared funds) must be received by no later than 5:00pm (WST) on the Expiry Date. Instructions regarding methods of payment are included in the Notice of Exercise.

• b) Sell your Options : Please note that official quotation of the Options on ASX will cease at close of trading on 2 August 2021, being four business days before the Expiry Date.

• c) Do nothing and allow your Options to expire : If you do not exercise or sell your Options in the manner described above, they will expire at 5:00pm (WST) on the Expiry Date and your right to subscribe for fully paid ordinary shares in the capital of the Company (Shares) at $0.25 per Share will lapse.

In accordance with clause 5.2 of Appendix 6A of the ASX Listing Rules, the Company provides the following information:

• a) the name of the holder of the Options, the number of Options held and the number of Shares to be issued on exercise of the Options is set out in the personalised Notice of Exercise accompanying this letter;

• b) the exercise price of the Options is $0.25 per Option;

• c) the Options must be exercised and payment (in cleared funds) received by no later than 5:00pm (WST) on 8 August 2021 (being the Expiry Date);

==> picture [41 x 71] intentionally omitted <==

• d) if you do not exercise (or sell) your Options in the manner described above,

ASX ANNOUNCEMENT

==> picture [183 x 111] intentionally omitted <==

they will expire at 5:00pm (WST) on the Expiry Date and your right to subscribe for Shares at $0.25 per Share will lapse;

• e) official quotation of the Options on ASX will cease at close of trading on 2 August 2021, being four business days before the Expiry Date;

• f) the market price of Shares on ASX on 6 July 2021 was $0.26, being the closing price of Shares on ASX prior to the date of this letter;

• g) during the 3 months preceding the date of this letter:

  • a. the highest market sale price of Shares on ASX was $0.29 on 30 June 2021; and

  • b. the lowest market sale price of Shares on ASX was $0.21 on 7 April 2021.

• h) as at the date of this notice, there are no underwriting agreements in relation to the Options.

If you have any questions in relation to any of the above, please contact the Company through the details provided below

Aditya Asthana

Chief Financial Officer & Company Secretary

First Graphene Limited

Email: aditya.asthana@firstgraphene.net Phone: + 61 1300 660 448

==> picture [41 x 71] intentionally omitted <==

==> picture [61 x 38] intentionally omitted <==

First Graphene Limited| ACN 007 870 760

All Registry Communication to:

GPO Box 5193, Sydney NSW 2001 1300 288 664 (within Australia) +61 2 9698 5414 (international) corporate.actions@automicgroup.com.au www.automicgroup.com.au

SRN/HIN: [HolderNumberMasked]

[EntityRegistrationDetailsLine1Envelope] [EntityRegistrationDetailsLine2Envelope] [EntityRegistrationDetailsLine3Envelope] [EntityRegistrationDetailsLine4Envelope] [EntityRegistrationDetailsLine5Envelope] [EntityRegistrationDetailsLine6Envelope]

Security Code: FGROC

Number of Options held: [FGROCHolding]

Option Expiry Date: 8 August 2021

Exercise Price: $0.25

Total Amount payable (exercising in full): $[Pay]

NOTICE OF EXERCISE OF OPTIONS

By making a BPAY® or EFT payment or returning this form together with a cheque payment, I/we hereby exercise the following number of options and make payment in Australian currency for the amount payable. Please allot me/us Ordinary Shares calculated on the basis of one Ordinary Share for every one Option which I/we exercise. I/We agree to accept such Shares subject to the Constitution of First Graphene Limited.

1. Number of Options to be Exercised Total payment required @ $0.25 per Option , , A$ , , .

If the dollar amount paid results in a fraction of a share then the shares allotted will be rounded down.

2. Payment: You can pay either by BPAY, EFT or Cheque

Option A – BPAY Option B – Electronic Funds Transfer (EFT)

==> picture [36 x 55] intentionally omitted <==

Biller Code: 275529 Ref No: [CRN] ® Registered to BPAY Pty Ltd ABN 69079137518

Contact your financial institution to make your payment from your cheque or savings account.

Note: You do not need to return this form if you have made payment via BPAY®. Your BPAY® reference number will process your payment to your options exercise electronically.

You should check the processing cut -off time for BPAY® transactions with your bank, credit union or building society to ensure your payment will be received by the Share Registry in time.

The unique payment reference number which has been assigned to your Application is: [holderId]-425-FGR Funds are to be deposited directly to the following bank account: Account name: Automic Pty Ltd Account BSB: 036011 Account number: 567859 Swift Code: WPACAU2S

IMPORTANT: You must quote your unique reference number as your payment reference/ description when processing your EFT payment. Failure to do so may result in your funds not being allocated to options exercise and shares subsequently not issued.

Note: You do not need to return this form if you have made payment via EFT. Your unique payment reference number will process your payment to your options exercise electronically.

Cheque Number BSB Account Number -

If paying by cheque, bank draft or money order, complete and return the completed Notice of Exercise with your payment. The completed Notice of Exercise with your payment must be received by the Registry to Automic Group, GPO Box 5193, Sydney NSW 2001, by 8 August 2021.

3. Contact details

Telephone Number Contact Name (PLEASE PRINT) ( ) Email Address

SUPPORT YOUR COMPANY: By providing your email address, you elect to receive all communications despatched by the Company electronically (where legally permissible).

ASX ANNOUNCEMENT

Investors

Aditya Asthana

Company Secretary

First Graphene Limited aditya.asthana@firstgraphene.net + 61 1300 660 448

==> picture [183 x 111] intentionally omitted <==

Media

Luke Derbyshire Managing Director

Spoke Corporate luke@spokecorporate.com + 61 488 66 42 46

About First Graphene Ltd (ASX: FGR)

First Graphene Ltd. is the leading supplier of high-performing, graphene products. The company has a robust manufacturing platform based upon captive supply of high-purity raw materials and an established 100 tonne/year graphene production capacity. Commercial applications are now being progressed in composites, elastomers, fire retardancy, construction and energy storage.

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. and is a Tier 1 partner at the Graphene Engineering and Innovation Centre (GEIC), Manchester, UK.

PureGRAPH[®] Range of Products

PureGRAPH[®] graphene powders and PureGRAPH[®] AQUA pastes with lateral platelet sizes of 50μm, 20μm, 10μm and 5μm, as well as PureGRAPH® MB-LDPE 20-30 masterbatch for thermoplastics, are available in tonnage volumes. The products are high performing additives, characterised by their high quality and ease of use.

First Graphene Limited ABN 50 007 870 760 1 Sepia Close Henderson WA 6166 T: +61 1300 660 448 E: info@firstgraphene.net W: firstgraphene.net

Directors: Trading Symbols Warwick Grigor Australia: FGR Michael Quinert FGROC Dr Andy Goodwin Frankfurt: FSE:M11 USA OTCQB: FGPHF Michael Bell

==> picture [41 x 71] intentionally omitted <==

With authority of the board, this announcement has been authorised for release by Aditya Asthana, Chief Financial Officer and Company Secretary.