FGR accelerates USA expansion & defence sector exposure with strategic acquisition of MITO® Material Solutions

Highlights

• FGR enters binding agreement to acquire all assets, intellectual

property, product lines and manufacturing capabilities of USA-based MITO^® Material Solutions, Inc.

Strategic acquisition expands FGR's product portfolio into high-value functionalised graphene technologies

Significantly strengthens FGR's exposure to rapidly emerging USA defence and aerospace opportunities involving graphene enhanced technologies

Delivers immediate USA revenues and a substantial growth pipeline with >25 clients in late-stage testing across various sectors

Establishes a direct-to-market commercial platform in the USA

Combined with FGR's existing PureGRAPH^® technologies, this acquisition creates one of the broadest and most advanced graphene product portfolios globally

SYDNEY, June 4, 2026 /PRNewswire/ -- First Graphene Limited (ASX: FGR; "First Graphene" or "the Company") (FRA:M11) (OTCQB:FGPHF) is pleased to announce that it has entered a binding Sale Agreement ("Agreement") to acquire all product lines, manufacturing equipment and intellectual property of MITO^® Material Solutions, Inc ("MITO").

Importantly, the acquisition will expand First Graphene's capability to functionalise graphite, graphene and graphene oxide — increasingly important materials used across a broad range of commercial and defence applications to enhance the performance of advanced material additives.

The agreement includes acquiring MITO's E-GO^®, LIGRA™, OMEGA and DELTA product lines, which represent a suite of thermoset, thermoplastic, composite materials, coatings, liquids, resins and nanomaterial additives.

FGR accelerates strategic expansion into the United States

The acquisition represents a strategic step for FGR, significantly broadening the Company's technology platform beyond high-performance graphene powders and dispersions into advanced graphene oxide, hybrid graphene additives and functionalised nanomaterial technologies.

Importantly, the acquisition also establishes FGR with a direct operational and commercial platform within the USA, enhancing access to the world's largest defence and advanced materials market, positioning the Company to pursue new areas for revenue growth, customer penetration and strategic partnerships.

Expanding defence and aerospace opportunities

The acquisition, by creating an operating presence in the USA, enhances FGR's exposure to emerging USA defence and aerospace opportunities involving graphene enhanced technologies.

Functionalised graphene and graphene oxide technologies are increasingly recognised as critical enabling materials across aerospace and defence applications due to their ability to improve interfacial bonding, mechanical performance, conductivity, durability and multifunctionality.

Recent US Department of Defence and DARPA¹ initiatives have increasingly focused on lightweight graphene enhanced composite structures, thermal management systems, advanced energy materials and next-generation survivability materials.

FGR's acquisition of MITO builds directly on the Company's materials portfolio with potential defence applications, including perovskite solar technologies for endurance drones through the Company's partnership with Halocell, mechanically strengthened composites, carbon fibre technologies and advanced conductive and Electromagnetic Compatibility (EMC) shielding additive systems.

Proven products with established US customers

MITO's products are already deployed by multiple premium USA brands seeking advanced material performance enhancements, including Parlor Skis, Folsom Custom Skis and St. Croix Rods.

Parlor Skis uses MITO's graphene enhanced E-GO^® technology to improve the strength-to-weight ratio, responsiveness and durability of high-performance custom skis. Graphene enhanced composite systems reduce weight while maintaining structural stiffness and vibration damping, key performance attributes in high end ski hardware.

Folsom Custom Skis incorporates MITO's graphene technologies to improve composite laminate performance, delivering increased durability, enhanced flex control and improved energy transfer characteristics for high-performance ski applications.

St. Croix Rods utilises graphene enhanced additive systems to improve sensitivity, strength and lightweight performance in fishing rods. Graphene enhanced materials assist in improving toughness and responsiveness while reducing overall product weight.

MITO's customer portfolio validates the commercial applicability of its functionalisation technologies in demanding real-world applications where performance advantages are critical.

These applications can apply directly into large scale industrial and defence opportunities.

Market-ready business on doorstep of a massive market

The take-forward business has already conducted 8 years of R&D and product development to deliver market-deployable materials readily manufactured and sold to existing customers.

Future R&D and manufacturing capabilities will leverage FGR's existing expertise, minimising the impact of overheads while also providing an opportunity to toll manufacture in North America.

The USA sports market is valued at more than US$1 trillion², while defence spend by the USA Department of Defence alone has reached USD$1.18 trillion³, presenting immense opportunity for First Graphene to deliver performance enhancing solutions across two high-value markets.

Advantageous success-based terms

Under the Agreement the acquisition will be completed for a cash-stock consideration, predominantly underpinned by a two-tranche allocation of FGR stock on achieving strict MITO product sales targets over a 24-month period.

Commenting on First Graphene's push into the US, Managing Director and CEO, Michael Bell, said:

"The acquisition of MITO Material Solutions assets represents a transformational push into the USA market for First Graphene, immediately expanding the Company's product portfolio further into graphene oxide and functionalised graphene technologies - two rapidly emerging segments of the advanced materials market. Combined with our existing PureGRAPH^® technologies, this acquisition creates one of the broadest and most advanced graphene product portfolios globally.

MITO has established commercial traction with premium USA customers and built a substantial pipeline of opportunities across sporting goods, industrial composites and advanced materials.

Importantly, this acquisition provides First Graphene with a direct operational and commercial launch platform into the USA, enabling the business to aggressively accelerate revenue growth and customer adoption in the world's largest advanced materials and defence market. The addition of graphene oxide and functionalisation capabilities significantly strengthens our ability to deliver next-generation performance additives across defence, aerospace, composites, coatings, polymers and energy applications.

The graphene industry is approaching a major commercial inflection point. Customers are increasingly seeking proven suppliers such as First Graphene with scaled manufacturing, differentiated technology and real commercial capability.

With two acquisitions underway, expanding commercial revenues, growing defence exposure and a significantly enhanced technology platform, FGR is building substantial momentum globally."

Ends

References
¹Defense Advanced Research Projects Agency (DARPA)

²Global Institute of Sport

³Department of Defense