First Graphene Ltd. — Investor Presentation 2022

May 5, 2022

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GRAPHENE: Revolutionising material performance and helping the cement and concrete sector reduce CO 2 emissions for a greener future

INVESTOR PRESENTATION

MAY 2022

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PureGRAPH[®] delivers environmental benefits across industries, including helping the cement and concrete sectors to reduce CO2 emissions by 20%

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An established, diversified product portfolio and industry leading production capacity, enabling us to service the significant growth trajectory ahead

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A structured go-to-market strategy targeting identified, lucrative markets segments, with subject matter experts driving global adoption of PureGRAPH[®]

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The world’s largest producer of graphene with unparalleled quality assurance and readily scalable processes

Unrivalled industry application IP, a strong partner network and science backed data to enable development of PureGRAPH[®] solutions

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• Materials technology company specialising in commercial applications for graphitic technologies

• New substance registration in United Kingdom (UKREACH), Europe (EU-REACH) and Australia (AICIS) in place, expanding into USA with the EPA

• Active membership of ISO standards committee for graphene registration

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• World-class manufacturing facility in Henderson, Western Australia

• Tier 1 partner at the Graphene Engineering and Innovation Centre (GEIC), with major R&D capability in Manchester, UK

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• Robust 100 tonne/year production capacity with readily scalable technology to cater for growing demand

• Transforming graphene research into high growth commercial opportunities

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• Established client base, market channels and distribution partners in Americas, Europe, Asia Pacific and South Africa

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Vein graphite and chemical exfoliation

Industrial finishing and quality assurance

Third party formulators and industry partners

Graphitic material product differentiators

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• High purity vein graphite

• Electrochemical exfoliation

• High yield processing

• Low waste

• Modular finishing

• 6-Sigma quality control

• At line testing

• Repeatable standards

• Recognised quality leader

• Internal/External formulators

• Industrial/academic solution development

• Mobile across value stream

• PureGRAPH[®] powder, AQUA, and masterbatches

• Liquid admixtures

• Cement grinding aids

• Inks & coatings

• Supercapacitors & battery anodes

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FGR Revenue (A$000)
600
Share price (1 April 2022) A$0.17
Q4
500 Firm
Issued shares – fully paid 556.67m 200 Purchase
400 Orders
Unlisted options (25c) – expiry November 2023 15.0m
300
Q1-Q3
Market capitalisation ~A$93.25m 200 342 364 Revenue
290 Realised
Cash - April 2022 A$7.5m 100
0 7 23
2018 2019 2020 2021 2022
Realised Revenue (A$000) Q4 2022 Revenue Estimate (A$000)
Q3 revenue pending annual external audit by BDO
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FY22 is shaping up to be FGR’s most successful, with sales already higher than FY21 within the first three quarters

• Approx. $200K in binding purchase orders for Q4 FY22, with additional orders expected to mature before end of FY

• Major traction in cement and concrete sectors with several multinational upstream suppliers actively pursuing PureGRAPH[®] enhanced solutions and sales

• New business opportunities with companies in geotextiles, and composites & plastics have driven growth in 2022

• Expansion of sales opportunities through the provisions of R&D services for formulation and application development has further enabled growth

• The last quarter of 2022 is shaping up to be another strong quarter with significant orders within the composites & plastics, cement & concrete, and coatings & inks market segments

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Commercial Manager Todd McGurgan

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• Global usage In 2020:

• 14 billion m[3] of concrete produced globally

• 4.2 billion tonnes of cement produced globally

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• Globally, cement and concrete contribute 8% of CO2 emissions

• Global Cement and Concrete Association (GCCA), on behalf of 40 leading cement and concrete manufacturers, committed to cutting carbon emissions by 25% by 2030

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• US$774BN market to 2027 (Source: 360Research reports)

• Potential graphene market

• 420,000t total combined cement and concrete addressable market

• Current client opportunity base accounts for 3% (~12,600t) projected to reach 10% (42,000t) by first half FY23

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Commercial Manager Todd McGurgan

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Where are CO 2 emissions generated?

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Raw material extraction – calcium, silica, alumina and iron

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Raw meal preparation – crushing, proportioning, & grinding

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Rotary Kiln – for every tonne of clinker produced, 800-900kg of CO2 is produced

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Clinker – cooled and stored. This is the main ingredient used in Portland Cement Final Grinding: clinker + gypsum + mineral addition = cement

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Greener cements are made possible by adding PureGRAPH[®] at this step

How does PureGRAPH[®] help reduce CO2 emissions?

• Less clinker produced = less CO2, however less clinker means lower strength, reduced performance

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• BUT NOT WHEN GRAPHENE IS ADDED

• Small additions of PureGRAPH[®] mean less clinker while maintaining strength and performance

Up to 20% lower clinker factor cements are possible, reducing CO2 emissions by approx. 18% - 20%

First Graphene is working with upstream suppliers to leverage existing distribution channels into global companies

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Commercial Manager Todd McGurgan

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Cement

Concrete

Addition of graphene cement additives provides significant improvements in strength and grinding efficiency, leading to far lower CO2 emissions

Addition of graphene admixtures significantly improves strength and durability of concrete, with potential applications in heavy industry, marine and wastewater infrastructure

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Cement & Concrete Admixtures Concrete & Mortar Admixtures
TEST/VALIDATE PRODUCTION TEST/VALIDATE PRODUCTION
CONCEPT COMMERCIAL CONCEPT COMMERCIAL
SALES SALES
Early Adopters: +15 Early adopters: +5
Value Proposition: Stronger, more Value Proposition: Stronger, more
durable concretes and greener, lower durable concrete and mortar mixtures
CO2 cement production2 cement production cement production for higher levels of performance
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Cement Additives

Cement & Concrete Admixtures

Concrete & Mortar Admixtures

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TEST/VALIDATE PRODUCTION
CONCEP COMMERCIAL
T SALES
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Early Adopters: +10

Early Adopters: +15

Value Proposition: Enables greater use of supplementary cementitious materials for reduced CO2 greener cements

Value Proposition: Stronger, more durable concrete and mortar mixtures for higher levels of performance

Value Proposition: Stronger, more durable concretes and greener, lower CO2 cement production2 cement production cement production

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Please note: This is only a selection of current /pending fast moving opportunities in this segment. Those not specifically stating client names are protected under non-disclosure agreements.

Commercial Manager Neil Armstrong

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• Increased performance and weight reduction

• Carbon reduction by lowering waste, increasing efficiency, longer life and applications for recycled materials

• Developing conductive materials for applications in renewable and smart technologies

• Combined market value ~US$470BN with established addressable amount of 100,000 tonnes per annum

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GRP swimming pools Solar water heating Extruded HDPE sheets
TEST/VALIDATE PRODUCTION TEST/VALIDATE PRODUCTION TEST/VALIDATE PRODUCTION
CONCEPT COMMERCIAL CONCEPT COMMERCIAL CONCEPT COMMERCIAL
SALES SALES SALES
Early adopters: 1 Early adopters: 1 Early adopters: +5
Value Proposition: Increased flexural Value Proposition: Unique product to Value Proposition: Allows for weight
strength >30% and >40% reduction in harness solar energy to reduce energy reduction, increased wear resistance
water diffusion demands and strength
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Early adopters: 1

Value Proposition: Increased flexural strength >30% and >40% reduction in water diffusion

Value Proposition: Allows for weight reduction, increased wear resistance and strength

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Please note: This is only a selection of current /pending fast moving opportunities in this segment. Those not specifically stating client names are protected under non-disclosure agreements.

Commercial Manager Shoaib Qureshi

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• Improving sustainability and longevity of coatings and inks across sectors facing environmental, energy management, safety and technical challenges

• Enhancing durability, adding mechanical strength, and contributing to safety and the environment via conductive, antistatic and barrier features

• Facilitating development of smart coatings and inks due to both electrical and thermal conductive nature of graphene

• Combined market value ~US$151BN with established addressable amount of 100,000 tonnes per annum

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Geotextiles Antistatic Coatings Protective clothing
TEST/VALIDATE PRODUCTION TEST/VALIDATE PRODUCTION TEST/VALIDATE PRODUCTION
CONCEPT COMMERCIAL CONCEPT COMMERCIAL CONCEPT COMMERCIAL
SALES SALES SALES
Early adopters: 1 Early adopters: 1 Early adopters: +3
Value Proposition: Preventive Value Proposition: Protection of Value Proposition: Enhancing the
technology to detect leaks and failure people and products from surface mechanical and thermal performance
in surface and subsurface electrostatic discharge of technical textiles
environments
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Value Proposition: Enhancing the mechanical and thermal performance of technical textiles

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Please note: This is only a selection of current /pending fast moving opportunities in this segment. Those not specifically stating client names are protected under non-disclosure agreements.

Commercial Manager Peter Osborne

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• Rubbers: Alternative refined carbon source to carbon black to enhance a wide range of industry targets in sustainability and smart solutions

• Elastomers: Wear resistance and life extension in aggressive heavy industry environments, filling the gap in the polymer space to enhance gas and vapour controls for energy and material storage, and transportation solutions

• Foams: Lighter, stronger and more resistant to wear requirements alongside fire resistance with regulatory controls being redefined within the chemical sector

• Combined market value ~US$250BN with established addressable amount of 200,000 tonnes per annum

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Industrial Parts
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Footwear
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Wheels & Rollers
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TEST/VALIDATE PRODUCTION TEST/VALIDATE PRODUCTION TEST/VALIDATE PRODUCTION
CONCEPT COMMERCIAL CONCEPT COMMERCIAL CONCEPT COMMERCIAL
SALES SALES SALES
Early adopters: +15 Early Adopters: +5 Early Adopters: +10
Value Proposition: Reduce waste and Value Proposition: Performance Value Proposition: Improved
downtime in industrial processes improvements and lifecycle benefits maintenance plans and reduced
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Value Proposition: Improved maintenance plans and reduced downtime

Value Proposition: Reduce waste and downtime in industrial processes

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Supercapacitors

• Development of metal-oxide/graphene hybrid active materials to enhance the performance of supercapacitors

• Proven 85% improvement in energy density and 300% improvement in capacitance

• Working to enhance electrolyte and manufacture first pouch cell products

• Working with “best in class” organisations to enhance supercapacitor architecture

Hydrodynamic Cavitation Technology

• One-step hydrodynamic cavitation process converts petroleum feedstock to batterygrade graphite, graphene and green hydrogen

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• Highly scalable using standard equipment

• Sets pathway to provide oil and gas sector with diversified green energy options to help meet demand of growing EV market

• Process also being developed to graphene coat silicon materials for battery anodes

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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.

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1 Sepia Close, Henderson Western Australia 6166

P. +61 1300 660 448

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Graphene Engineering & Innovation Centre University of Manchester Sackville Street, Manchester M13 9PL, United Kingdom

P. +44 (0)161 826 2350

FIRSTGRAPHENE.NET

Email: Michael.Bell@firstgraphene.net Phone: +65 8499 6309

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