Core Viewpoint - NOVONIX Limited has appointed Michael O'Kronley as the new Chief Executive Officer, effective May 19, 2025, to lead the company in its next phase of growth in the battery materials and technology sector [1][3]. Group 1: Leadership Transition - Michael O'Kronley brings over 30 years of automotive experience, including 15 years in the lithium-ion battery and battery materials space, and previously served as CEO of Ascend Elements, where he increased the company's enterprise value by US$1.6 billion in five years [2]. - Admiral Robert J Natter, Chairman of NOVONIX, expressed confidence in O'Kronley's ability to lead the company and emphasized his extensive experience in manufacturing and scaling critical minerals production [3]. - O'Kronley succeeds Robert Long, who served as Interim CEO since January 2025 and will continue as Chief Financial Officer [3][4]. Group 2: Company Overview - NOVONIX is a leading battery technology company focused on revolutionizing the lithium-ion battery industry through innovative and sustainable technologies, high-performance materials, and efficient production methods [5]. - The company manufactures industry-leading battery cell testing equipment and is expanding its high-performance synthetic graphite material manufacturing operations, along with a patented all-dry, zero-waste cathode synthesis process [5]. - NOVONIX has established a prominent position in the electric vehicle and energy storage systems battery industry, contributing to a cleaner energy future through advanced R&D capabilities and strategic partnerships [5].

Core Viewpoint - NOVONIX Limited has received unanimous approval for the purchase of a 182-acre land parcel in Chattanooga for its second mass production plant, Enterprise South, which will enhance its production capacity and create jobs in the local community [1][2]. Group 1: Company Expansion - The Enterprise South facility will be acquired for approximately US$4.6 million and is expected to reach full production capacity of 31,500 tonnes per annum (tpa) by the end of 2028 [1][2]. - The new facility is anticipated to create 500 full-time jobs, contributing to the local economy [2]. - Combined with the existing Riverside facility, NOVONIX's total production capacity in Chattanooga is projected to exceed 50,000 tpa by 2028 [2]. Group 2: Financial Support and Benefits - NOVONIX is set to receive an estimated US$54 million in net tax and other benefits over a 15-year period, contingent on meeting certain conditions [1]. - The company has a conditional commitment from the U.S. Department of Energy (DOE) for a direct loan of up to US$754.8 million to finance the Enterprise South facility [4]. - Additionally, NOVONIX has secured a US$100 million grant and a US$103 million investment tax credit from the DOE for its Riverside facility [5]. Group 3: Community Engagement and Workforce Development - The company has extended its partnership with Lookout Valley Middle High School to support career-focused learning in the battery industry through the NOVONIX Institute of Advanced Battery Technology [3]. - This initiative aims to equip students with the necessary skills for success in the battery and STEM fields, reinforcing NOVONIX's commitment to local workforce development [3]. Group 4: Production and Supply Agreements - The Riverside facility is expected to begin commercial production in early 2026, with plans to produce 20,000 tpa of synthetic graphite [5]. - NOVONIX has signed binding offtake agreements with major companies such as Panasonic Energy, Stellantis, and PowerCo, committing its full production capacity at the Riverside facility [5].

Fourth Quarter Activities Report Update Important Notice and Disclaimers The information contained in this presentation (the "Presentation") has been prepared by NOVONIX Limited (ACN 157 690 830) ("the Company" or "NOVONIX") solely for information purposes and the Company is solely responsible for the contents of this Presentation. It is intended to be a summary of certain information relating to the Company as at the date of the Presentation and does not purport to be a complete description of NOVONIX or c ...

Financial Position and Capital Needs - As of December 31, 2024, the company had $42.6 million in cash, cash equivalents, and short-term investments, indicating a need for significant additional capital to expand production capacity[30]. - The company expects to incur significant expenses and continuing losses in the near future, highlighting a history of financial losses[30]. - The company incurred net losses of $74.8 million, $46.2 million, $27.9 million, and $51.9 million for the years ended December 31, 2024 and 2023, six months ended December 31, 2022, and year ended June 30, 2022, respectively[74]. - As of December 31, 2024, the company had a cash balance of $42.6 million and net current assets of $11.1 million[74]. - The company anticipates increased expenses related to the purchase of additional production equipment for synthetic graphite manufacturing[75]. - The total liability of the company at December 31, 2024, was $27.7 million, including a fully drawn loan facility of $30.1 million[75]. Revenue Dependence and Customer Relationships - The company relies on a limited number of customers for a significant percentage of its revenue, which poses risks to its business[24]. - The Battery Technology Solutions (BTS) business generated revenue primarily from a limited number of customers, with two customers accounting for approximately 13% and 12% of total revenues for the year ended December 31, 2024[60]. - The anode materials business is not yet generating revenue and relies on collaborations with tier 1 customers such as Panasonic Energy and Stellantis for future sales[61]. - For the year ended December 31, 2023, two customers accounted for approximately 17% and 15% of total revenues, indicating a reliance on a few key clients[60]. - The reliance on a limited number of customers for significant revenue poses a risk, as any decrease in demand from these customers could materially affect financial results[62]. Production and Operational Challenges - The company faces challenges in developing anode and cathode materials at acceptable performance, yields, and costs, which may lead to delays[23]. - The company faces significant challenges in developing anode and cathode materials to meet customer specifications, which could adversely affect revenue generation and customer relationships[31]. - Labor shortages and increased turnover could lead to higher costs and negatively impact the ability to scale up manufacturing of anode materials and commercialize cathode technology[43]. - Delays in receiving equipment from vendors have recently adjusted production timelines, impacting installation and commissioning schedules[32]. - The production of cathode materials is dependent on the success of an all-dry, zero-waste synthesis process, with potential adverse effects on business if not successful[34]. - The company is subject to various operational risks that could increase costs and limit performance in its anode materials operations[23]. Government Support and Funding - The company finalized a $100 million grant from the U.S. Department of Energy to expand domestic production of high-performance synthetic graphite anode materials[28]. - A conditional commitment for a direct loan of up to $754.8 million from the DOE has been received to partially finance a new facility in Chattanooga[28]. - The company has applied for government support through grants, loans, and tax incentives, but the application process is highly competitive[29]. - The company must match costs reimbursed under the DOE grant to utilize the funds effectively[28]. - The company was selected to receive a $103 million tax credit under the 48C program to support production of critical battery materials, contingent on meeting specific requirements[45]. - The Enterprise South facility remains eligible for a potential 45X tax credit, which offers 10% of eligible production costs of critical minerals back to producers[47]. Market and Competitive Landscape - The battery technology market is highly competitive, with competitors potentially having greater resources and access to customers, which could affect the company's market position[52]. - The company may experience significant pricing pressure from competitors, which could adversely affect sales and profitability[62]. - The demand for the company's materials is directly related to the growth of electric vehicles (EVs) and grid energy storage, which may not develop as expected[66]. - The company is exposed to risks related to the availability and pricing of raw materials, which could increase operating costs and impact financial condition[70]. - The company faces risks from limited suppliers for key materials, which could lead to production delays and negatively impact customer relationships[50]. Intellectual Property and Technology Development - The company relies on intellectual property protections, including patents and trade secrets, to maintain its competitive position, but faces challenges in enforcing these rights[106]. - The company has rights to five issued patents and 19 active families of patent applications, with ongoing efforts to apply for patents covering new technologies[118]. - The patent prosecution process is expensive and time-consuming, which may hinder the company's ability to secure necessary patent protections[121]. - The company may face claims from third parties regarding misappropriation of intellectual property, which could lead to substantial costs and resource diversion[115]. - There is uncertainty regarding the commercialization of patents developed through the collaboration with Dalhousie, as future success is not guaranteed[112]. - The company may need to obtain licenses for third-party patents, which may not be available on commercially reasonable terms, potentially harming its business[127]. Strategic Growth and Future Plans - The company has a phased expansion plan of 150,000 tpa contingent on factors such as funding acquisition and successful integration of new production facilities and equipment[33]. - The Riverside facility in Chattanooga, Tennessee, is targeted to produce anode materials of up to 20,000 tonnes per annum (tpa) using proprietary Generation 3 furnace systems developed in collaboration with Harper International Corporation[32]. - The company plans to scale operations at its Riverside facility to reach a commercial production capacity of 3,000 tonnes per annum (tpa) by early 2026, with a long-term goal of 20,000 tpa by 2028[201][214]. - The planned Enterprise South facility is expected to have an initial production capacity of 31,500 tpa, with potential expansion to 75,000 tpa by 2028, creating 450 full-time operational jobs and 500 construction jobs[217][219]. - NOVONIX signed binding offtake agreements with Panasonic Energy for 10,000 tonnes of synthetic graphite from 2025 to 2028, Stellantis for up to 115,000 tonnes from 2026 to 2031, and PowerCo for a minimum of 32,000 tonnes from 2027 to 2031[205]. Regulatory and Compliance Issues - The company is subject to substantial regulations, and unfavorable changes or non-compliance could harm its business and operating results[98]. - The company may face increased operating costs and liabilities due to environmental, health, and safety regulations, which could adversely affect its business[101]. - The company has incurred significant costs due to compliance with U.S. regulations, including legal, accounting, and administrative expenses[171]. - Compliance with the Sarbanes-Oxley Act and other regulations requires substantial resources, potentially straining the company's systems[172]. Risks and Uncertainties - The company recognizes inherent climate-related risks, including heavy rainfall and flooding in Chattanooga and wildfires in Halifax, which could disrupt operations and increase costs[95]. - The company is exposed to risks from geopolitical instability, which could negatively impact demand for its products and increase operating costs[97]. - Global political and economic conditions, including new tariffs on imports to the U.S. from Canada, could adversely affect the company's business and financial condition[78]. - The company faces significant risks related to safety incidents in its operations, which could lead to production delays and increased costs[85]. - The company may face challenges with information security and data breaches, which could impact its reputation and financial results[80]. Corporate Governance and Shareholder Matters - The company is classified as a foreign private issuer, which exempts it from certain U.S. securities laws, resulting in reduced disclosure requirements[163]. - The company is an "emerging growth company" under the JOBS Act, allowing it to take advantage of reduced disclosure requirements, which may affect investor attractiveness[169]. - The company may cease to be an emerging growth company if it exceeds $1.235 billion in annual revenue or meets other specific criteria[170]. - The company may lose its foreign private issuer status, leading to increased regulatory and compliance costs under U.S. securities laws[168]. - The company intends to follow home country corporate governance practices, which may afford less protection to shareholders compared to U.S. standards[166]. - The company has identified material weaknesses in its internal controls over financial reporting as of December 31, 2024, which have not yet been fully remediated[174].

Core Viewpoint - NOVONIX Limited supports the ITC's preliminary determination that China has suppressed the U.S. graphite industry by exporting graphite at artificially low prices, which threatens fair competition and U.S. energy security [1][2]. Industry Impact - The ITC's ruling is seen as a significant step towards creating a fair competitive environment for U.S. critical minerals producers, potentially leading to import tariffs on unfairly priced Chinese graphite [2][3]. - China currently holds over 95% market share for battery-grade graphite, highlighting the dominance of Chinese producers in this sector [3]. Company Developments - NOVONIX's Riverside facility in Chattanooga, Tennessee, is set to become the first large-scale production site for high-performance synthetic graphite in North America, with commercial production expected to start in early 2026 and a target output of 20,000 tonnes per annum [4]. - The company is part of the American Active Anode Material Producers (AAAMP), which filed the case with the ITC, representing a coalition of North American graphite producers [5]. Technological Advancements - NOVONIX is recognized for its innovative and sustainable technologies in the lithium-ion battery industry, including a patented all-dry, zero-waste cathode synthesis process [6].

Core Points - NOVONIX Limited announced the transition of its Chief Executive Officer, with Dr. Chris Burns stepping down effective January 24, 2025, and will continue in an advisory role as Special Advisor to the Board [1][2] - The Board has initiated a search for a new CEO with experience in manufacturing and operations to lead the company’s growth in synthetic graphite production [2][3] - Mr. Robert Long, the current Chief Financial Officer, has been appointed as interim CEO effective January 24, 2025, to ensure a smooth transition [3][4] Company Overview - NOVONIX is a leading battery technology company focused on revolutionizing the lithium-ion battery industry through innovative and sustainable technologies, high-performance materials, and efficient production methods [5] - The company is expanding its synthetic graphite material manufacturing operations and has developed a patented all-dry, zero-waste cathode synthesis process [5] - NOVONIX has established a strong position in the electric vehicle and energy storage systems battery industry, contributing to a cleaner energy future [5]

Licensing Agreement and Technology Rights - NOVONIX has entered into a licensing agreement with Harper International Corporation for the exclusive rights to use its continuous, induction-based graphitization furnace technology [2] - The agreement grants NOVONIX the exclusive license to further develop the technology for thermal production of graphite material used in the battery anode market [1] - NOVONIX must make an initial payment within 12 months of the agreement's effective date to secure the exclusive license [1] - Upon meeting performance objectives and paying additional licensing fees, NOVONIX gains the right to build equipment using the licensed technology, either internally or through approved sublicensees [1][4] - The license is exclusive for up to seven years in the field of thermal production of synthetic graphite for battery anodes, with certain limited exceptions [4] - After seven years, NOVONIX will retain a perpetual, non-exclusive license to the technology for its own use or through approved sublicensees [4] Production and Expansion Plans - NOVONIX's Riverside facility in Chattanooga, Tennessee, is set to become the first large-scale production site for high-performance synthetic graphite in North America [3] - The facility is expected to begin commercial production later this year, with plans to increase output to 20,000 tonnes per annum to meet customer commitments [3] - The company has secured significant funding for its production facilities, including a US$100 million grant from the U S Department of Energy (DOE) and a US$103 million investment tax credit [3] - NOVONIX has also received a conditional commitment for a US$754 8 million direct loan from the DOE Loan Programs Office to partially finance a new production facility, NOVONIX Enterprise South, also in Chattanooga [3] Strategic Partnerships and Industry Position - NOVONIX and Harper have a long-standing strategic partnership, with a history of collaboration on innovative graphitization furnace technology for the lithium-ion battery sector [9] - The company is a leading battery technology company, focusing on sustainable technologies, high-performance materials, and efficient production methods for the global lithium-ion battery industry [4][5] - NOVONIX has developed a patented all-dry, zero-waste cathode synthesis process and manufactures industry-leading battery cell testing equipment [4][5] - Through advanced R&D, proprietary technology, and strategic partnerships, NOVONIX has established a prominent position in the electric vehicle and energy storage systems battery industry [5]

Core Viewpoint - NOVONIX Limited is expanding its operations by entering a purchase and sale agreement for land in Chattanooga, Tennessee, to establish its second mass production plant, NOVONIX Enterprise South, which is expected to enhance its production capacity significantly [1][2]. Company Expansion - The new facility, located in the Enterprise South Industrial Park, aims to achieve a production capacity of 31,500 tonnes per annum (tpa) by the end of 2028, creating 500 full-time jobs [2]. - With the addition of the Enterprise South facility, NOVONIX's total production capacity is projected to exceed 50,000 tpa by 2028, complementing its existing 20,000 tpa facility at Riverside in Chattanooga [2]. Partnerships and Agreements - NOVONIX has secured binding offtake agreements to supply synthetic graphite to major companies including Panasonic Energy, Stellantis, and PowerCo, indicating strong demand for its products [2]. - The company has received a conditional commitment from the U.S. Department of Energy for a direct loan of up to US$754.8 million to partially finance the Enterprise South facility, under the DOE's Advanced Technology Vehicle Manufacturing program [3]. Financial Support and Grants - NOVONIX's Riverside facility has been awarded a US$100 million grant from the U.S. Department of Energy and has also been selected for a US$103 million investment tax credit to support its funding [4].

Core Viewpoint - NOVONIX Limited is participating in a petition to investigate China's unfair pricing practices in exporting graphite used for lithium-ion battery anodes, which is harming the North American graphite industry [1][2][3]. Group 1: Industry Context - The petition filed by the American Active Anode Material Producers (AAAMP) claims that China is exporting battery-grade graphite at artificially low prices, with estimated dumping margins as high as 920% [2]. - China currently holds over 95% market share for battery-grade graphite, which poses a significant challenge for North American producers [2]. Group 2: Company Initiatives - NOVONIX's Riverside facility in Chattanooga, Tennessee, is set to become the first large-scale production site for high-performance synthetic graphite in North America, with plans to produce 20,000 tonnes per annum starting in 2025 [3]. - The company has received a US$100 million grant from the U.S. Department of Energy and a US$103 million investment tax credit to support the Riverside facility [3]. - NOVONIX has also secured a conditional commitment for a direct loan of up to US$754.8 million from the DOE Loan Programs Office for financing a new production facility in Chattanooga [3]. Group 3: Organizational Collaboration - The AAAMP, which includes NOVONIX and other graphite anode material producers, aims to encourage the U.S. Federal government to implement supportive policies for the domestic graphite industry [4].

Core Viewpoint - NOVONIX Limited has received a conditional commitment from the U.S. Department of Energy for a direct loan of up to US$754.8 million to finance a new facility in Chattanooga, Tennessee, aimed at manufacturing synthetic graphite for electric vehicle batteries [1][2]. Company Overview - NOVONIX is a leading battery materials and technology company focused on revolutionizing the lithium-ion battery industry with innovative and sustainable technologies [12]. Loan Details - The loan consists of US$692 million in principal and US$62.8 million in capitalized interest, structured in two tranches based on the phased completion of the facility [6][9]. - The first tranche will support the infrastructure and initial production capacity of 21,000 tonnes per annum (tpa), while the second tranche will support an additional 10,500 tpa [7]. Production Capacity and Job Creation - The new facility is expected to produce approximately 31,500 tpa of synthetic graphite, supporting the production of lithium-ion batteries for around 325,000 electric vehicles annually [2]. - The facility is anticipated to create 450 full-time operational jobs and 500 construction jobs [2]. Strategic Importance - The establishment of this facility is critical for localizing the supply chain of battery-grade graphite, as China currently holds over 95% of the market share [2][3]. - NOVONIX has signed binding offtake agreements with major partners such as Panasonic Energy, Stellantis, and PowerCo, reinforcing its position in the North American synthetic graphite supply chain [3]. Future Expansion Plans - The company aims to expand the production capacity of the Chattanooga facility to a target of 75,000 tpa, contingent on customer demand and additional financing [3]. Environmental and Regulatory Considerations - The loan is subject to an environmental review and the fulfillment of various technical, commercial, legal, and financial conditions before final approval [10].