First Graphene Ltd. — Capital/Financing Update 2026

Apr 27, 2026

ASX ANNOUNCEMENT

28th April 2026

FIRSTGRAPHENE

World leading materials technology

ASX:FGR:1:FRA:M11:2:OTCQB:FGPHF

FGR enters agreement to acquire advanced graphene coatings companies

Highlights

• First Graphene enters agreement to acquire key assets of Ionic Industries Inc. and Imagine Intelligent Materials
• Acquisition delivers advanced, graphene coatings technologies with proven commercial applications
• Immediate exposure to high-value geotextile and environmental infrastructure markets
• Enhances First Graphene’s product suite and strengthens pathway to accelerated commercialisation

First Graphene Limited (ASX: FGR; “First Graphene” or “the Company”) (FRA:M11) (OTCQB:FGPHF) is pleased to announce it has entered a binding Asset Purchase Agreement (“Agreement”) to acquire all manufacturing, intellectual property and development assets of Ionic Industries Inc. (“Ionic”) and its subsidiary Imagine Intelligent Materials (“Imagine”) (together, “the Companies”).

The acquisition represents a highly strategic and cost-efficient opportunity to integrate advanced graphene coatings technologies developed over more than a decade of research and commercialisation activity.

Following a comprehensive due diligence process, First Graphene identified strong technical and commercial alignment with the Companies’ graphene formulation platforms, which have already demonstrated successful application across multiple real-world use cases.

Under the Agreement, First Graphene will acquire production infrastructure, intellectual property, and established sales and distribution channels for a total consideration of AU$250,000 (cash and shares), representing a compelling entry point into proven technologies with significant growth potential. A summary of terms attached to the proposed Agreement (subject to meeting standard conditions precedents) are tabled in Appendix 1.

Of primary interest is Ionic’s revenue-generating graphene coatings formulations technology, and their application to geotextiles to improve both barrier and conductivity properties.

In addition to the geotextile coatings technology, the acquisition includes the full suite of intellectual property developed by the Companies across a broad range of industry segments. This portfolio spans advanced graphene enabled solutions in areas including environmental remediation, water treatment, energy storage, sensing technologies and functional coatings. The breadth of these technologies provides First Graphene with a diversified platform of innovation beyond geotextiles, with potential applicability across multiple markets. First Graphene will assess opportunities to build

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ASX ANNOUNCEMENT

FIRSTGRAPHENE
World leading materials technology
ASX FOR EXPRESSLY DYCOMPOSITE

upon and integrate these technologies within its existing customer base, where a logical and commercially attractive pathway to market can be established.

Strategic rationale

This acquisition provides First Graphene with immediate access to revenue-generating graphene coatings formulations, particularly in geotextile applications where enhanced barrier performance and conductivity deliver clear commercial advantages.

These technologies are already applicable to large and growing markets including:

• Water containment systems (e.g. farm dams and tailings storage)
• Landfill and waste management barriers
• Construction materials requiring enhanced durability and impermeability

Importantly, these applications align closely with First Graphene's existing PureGRAPH® portfolio and targeted end markets, creating a natural extension of the Company's product offering and accelerating time-to-market for new solutions.

The acquisition also includes an established customer and distribution base, providing a platform for First Graphene to optimise operations, strengthen commercial relationships, and expand market penetration.

First Graphene intends to adopt a focused and capital-efficient commercial strategy for the geotextiles market, distinct from the prior approach taken by Ionic and Imagine. Rather than pursuing a fully integrated, turnkey geotextile manufacturing model, the Company will concentrate on its core strengths in graphene enhanced coatings formulation and production.

First Graphene will actively rebuild and strengthen the opportunity pipeline through collaborative arrangements, allowing the Company to remain focused on delivering high-performance, differentiated Graphene enhanced coating technologies.

Anticipated to settle within 90 days, the acquisition also includes an existing supply and client base, which First Graphene will look to restructure and strategically rebuild to assist continuity of supply into the marketplace.

Compelling growth opportunity

The integration of Ionic and Imagine's technologies is expected to:

• Broaden First Graphene's coatings and formulations capability
• Unlock new revenue streams in geotextile infrastructure and environmental markets
• Support scalable global expansion through established distribution channels

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ASX ANNOUNCEMENT

FIRSTGRAPHENE
World leading materials technology
ASX FOR 1 FRIEND 2 OTCOR FORUM

The geotextiles segment alone represents a substantial and growing market opportunity, estimated to exceed US$500 million in Australia by 2030¹ and more than US$11 billion globally² in the same time period.

First Graphene Managing Director and CEO, Michael Bell, said:

“Successful acquisition of Ionic and Imagine represents a highly attractive opportunity to accelerate our growth in graphene geotextile coating formulations.

We are acquiring proven technologies, established applications and a pathway to revenue, all of which complement our PureGRAPH® platform and existing capabilities.

This positions First Graphene to more rapidly deliver advanced material solutions into large, global markets where performance and sustainability are increasingly critical.

We see significant upside in integrating these technologies with our scalable production and expanding distribution network, particularly within the fast-growing geotextile and environmental infrastructure sectors.”

Why this matters for investors (implicit positioning)

• Low-cost, high-upside acquisition of advanced and proven technology
• Accelerates commercialisation with existing customers and applications
• Strengthens competitive position in high-growth global markets
• Leverages existing infrastructure, improving capital efficiency
• Expands revenue potential beyond core PureGRAPH® product lines

-Ends-

This announcement has been approved 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
Media and Content Manager
SPOKE.
emily@hellospoke.com.au
+61 401 337 959

¹ Grand View Research
² Grand View Research

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ASX ANNOUNCEMENT

FIRSTGRAPHENE

world leading materials technology

ASX:FGR | FINA-MIL | GTCOR-FGRHP

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.

Appendix 1

Asset Purchase Agreement summary terms

| Vendor | Ionic Industries Limited ACN 168 143 324
Imagine Intelligent Materials Pty Ltd ACN 169 015 847
c/o Cor Cordis (Liquidator) |
| --- | --- |
| Buyer | First Graphene Limited (ACN 007 870 760) |
| Structure | 100% asset acquisition |
| Asset consideration | Graphene and coatings processing plant and equipment
Intellectual property rights (including issued and pending patents)
Business records including supply, client and opportunity pipeline lists |
| Cash consideration | AU$50,000 |
| Shares consideration | 3,215,434 fully paid ordinary shares, at value of AU$200,000 based on a deemed issue price per Share of $0.0622, equal to the 5-day VWAP |
| Funded by | Existing cash reserve. Shares to be issued under LR 7.1 (15%) placement capacity |
| Target settlement | Within 90 days |