NOVONIX Ltd — AGM Information 2018

Nov 21, 2018

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MANAGING DIRECTOR PRESENTATION

2018 AGM

Accelerating adoption of battery technologies for a cleaner energy future

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General disclaimer

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• This document has been prepared by NOVONIX Limited (“the Company” or “NOVONIX”). No representation, expressed or implied, or warranty as to the accuracy or completeness of the information contained herein is made by any party and nothing contained herein shall be relied upon as a promise or representation as to the future. In all cases, recipients should conduct their own investigation and analysis of NOVONIX.

• This presentation, including the information contained in this disclaimer is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or under any other law. It is for information purposes only and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the presentation, disclaimer nor anything contained in them forms the basis of any contract or commitment. This presentation does not take into account your individual investment objectives, financial situation or particular needs. You must not act on the basis of any matter contained in this presentation, but must make your own assessment of the Company.

• All statements in this presentation, other than statements of historical facts, which address the future activities and events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.

• Forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current activities; assumptions in economic valuations which prove to be inaccurate; possible variations product performance and reliability; climate events; political and regulatory changes; delays in obtaining approvals or financing or in the completion of development or construction activities.

• To the maximum extent permitted by law, none of NOVONIX or its related corporations, directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. Recipients should make their own enquiries in relation to any investment decisions.

• Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is current as at the date of this presentation and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results otherwise. There can be no assurance that forward-looking information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Contents

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CORPORATE INFORMATION

• Company Overview • Battery Market • FY2018 Highlights • FY2019 Outlook • Corporate Snapshot

STOCK INFORMATION
ASX Code	NVX
ASX Share Price @21 November 2018	A$0.45
52 Week Low - High	A$0.45 – A$1.47
Shares on issue	123m
Market Capitalisation @ 21 November 2018	A$58m

CURRENT CASH POSITION
Cash available to PUREgraphite JV at 30 September	A$2.9m
Cash available (excluding PUREgraphite JV) at 30 September	A$4.9m
Total cash available for operations at 30 September	A$7.7m

FY2018 FINANCIAL INFORMATION
FY2018 Revenue		A$2.1m
Total Assets @ 30 June 2018		A$34.2m
Total Liabilities @30 June 2018		A$1m
SHAREHOLDINGS	(m)	%
Board and KMP – ordinary shares	49.55	40%

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Company overview

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• NOVONIX is an international battery technology company

• Producer of battery anode material that extends battery life

• Manufacturing battery tech that cuts R&D time to weeks from years

• • Owner of a World-Class Natural Graphite Deposit (18%TGC)

• NOVONIX is a leading brand used by battery & OEM multinationals

• Based in USA, Canada and sales in fourteen countries

• Infrastructure and equipment in place, scaling business and sales

• Board experienced in building billion-dollar businesses

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FY2018 Highlights

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PUREgraphite

• Built pilot plant for manufacture of high performance battery anode materials

• Commenced product trials with multiple prospective customers

• Completed process design and equipment selection for commercial production plant

• Battery Technology Solutions (BTS)

• 35% growth in testing equipment sales including orders from ten ‘Fortune 500’ companies

• Built battery cell pilot line, commenced electrolyte R&D and agreed DAL R&D partnership

• Finalist in the Halifax Chamber of Commerce Business Awards for Export Business of the Year

• Mt Dromedary Graphite Project

• Completed scoping study to scale from 50ktpa to 200ktpa

• Had a high-grade Copper find requiring for further exploration

Corporate

• Appointment of Admiral Natter (US Navy Ret.) & Mr Liveris A.O. (DOW Chemical Ret.) to the Board

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EV penetration to drive battery demand

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• 1.5% to 24% EV enetration forecasts p

• • 2017 EV Penetration (% of New Car Sales) – ~1.5%

• • Average 2030 EV Penetration Forecast in 2030 – 24%

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EV demand to drive battery materials demand

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Source: EV Outlook 2018, Bloomberg New Energy Finance

Note: Copper includes copper current collectors and pack wiring. Aluminium includes aluminium current collectors, cell and pack materials and aluminium in cathode active materials

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Developing innovative products in growing battery market

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			NOVONIX business	LIB segment		Revenue: Market size	2017 $1.4b	2030 2040 $10b 1.3mt $20b 3.1mt $10b 1.4mt $20b 3.4mt $50b $100b $1b $2b $71b $142b
				Anode Materials
						Tons:	130kt
						Revenue: Tons:	$1.8b 140kt
				Electrolyte Materials
						Revenue:	$8.7b
				Other Lithium-ion Battery Materials
						Revenue:	$0.2b
				Battery Testing Equipment and Services
			2017 Data Source for Anode, Electrolyte and Other Battery Materials is AVICEENE ENERGY 2018 2030 and 2040 Data Source: NVX estimate derived from independent (Bloomberg) forecast of growth in lithium-ion battery market and other internal NVX analysis			Revenue:	$12b

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3 Strate ic business units assets g /

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Business/ asset Ownership stake Business description 100% 100% • Makes battery tech that cuts R&D time to weeks from years • Provides battery development services to OEMs • R&D programs for electrolyte, silicon & new materials • Based in Canada with growing sales in 14 countries • Established in 2013 • Large, world-class high-grade (18% TGC) natural graphite deposit located in Australia • Pending mining approval for 50KTPA base case • Opportunity to scale project up to 200ktpa • Considering partner/divestment opportunities Battery Technology Solutions 50% (with right to increase to 75% of first 1,000TPA and 100% above 1,000TPA) • Makes battery anode material that extends battery life >30% • 50/50 joint venture with Coulometrics • Currently building Phase 1 production capacity • Based in USA; Established in 2017

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Customer relationships

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Multiple global consumer electronics Multiple global auto makers - confidential companies - confidential

For confidentiality reasons there are a number of major global automakers, battery makers, medical device and electronics companies that are customers but cannot be named.

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Battery anode materials

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Application Other factors Solutions Life Energy	• Best for long life applications • xEV and Grid Artificialgraphite	• Best for low cost applications • Portable electronics • Commercial application limited 3% - 10% Naturalgraphite Graphite w/siliconadditive • Unproven • Very limited application Silicon Dominant
		More energy
	Longer Life
	• High energy use and associated cost	• High chemical use or higher energy cost • Low cycle life • High expansion • Low efficiency • Very low cycle life • Extreme expansion • Very low efficiency
	• Surface coatings • Particle morphology • Blending • Additives	• Surface coatings • Particle morphology • Blending • Additives • Surface coatings • Particle morphology • Limit % silicon • Limit voltage • Unproven • Work in progress

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Next generation battery materials

Partnership

Dalhousie

• NOVONIX has first rights to IP developed from the research

• Dalhousie University is a world leader in battery innovation and has had researchers working with groups such as TESLA and 3M Corporation

• • Professor Mark Obrovac is a leading battery materials innovator having authored over 75 peer reviewed journal articles, fifteen issued patents with a further seven patents pending in the field of battery science covering anodes, cathode, electrolyte and binder materials.

• The aim is to facilitate

development of valuable battery IP that can be commercialized

• NOVONIX is sponsoring the Mark Obrovac Battery Research Group

• The sponsorship agreement is for an initial two years with opportunity to renew in five-year increments

• The Research Group comprises approximately 12 postdocs, PhD and MSc graduate at any one time

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Focus

• The research is focused on developing advanced Li-ion and next-generation battery materials

• • It will leverage Professor Obrovac’s significant experience in silicon materials, anode and cathode materials, liquid and solid electrolytes and binder materials.

• • Short term synergies with PUREgraphite re silicon additives for graphite anode materials

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Next generation battery materials

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Our R&D program is already delivering promising IP

• NVX expects to file a US provisional patent for an “enhanced graphite anode material and manufacturing process” by end of December

• This provisional patent will provide NVX one year to finalise the full patent filing and decide on world wide application

• The patent will cover new technologies with potential to deliver substantial improvements in lithium-ion battery performance and cost

• The R&D program has a number other very promising battery technologies expected to deliver patentable IP in 2019

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Battery cell pilot line

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Photo: Professor Jeff Dahn of Dalhousie University with Dr Chris Burns NOVONIX COO inspecting the electrode slitting operation at the NOVONIX battery cell manufacturing facility

• 100% NOVONIX-owned battery cell pilot line now operational in our Halifax battery manufacturing facility

• Our battery cell pilot line will support in-house development activities and the provision of commercial battery development services to OEMs and other third-parties

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FY2019 Outlook

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• Well positioned to participate in the rapidly growing battery, EV & ESS markets

• On track to achieve another 30%+ growth in battery test equipment sales

• On track to build of our first commercial battery anode production plant

• On track to commence commercial production and sales of battery anode material

• US tariffs on graphite materials imported from China set to increase to 25%

• On track to file a US provisional patent for an “enhanced graphite anode material”

• Developing valuable next generation battery materials IP in partnership with Dalhousie

• Developing valuable electrolyte IP via our in-house electrolyte R&D program

• Expanding the battery testing and other services with focus on EV battery testing

• Permitting and investigating commercial options for Mt Dromedary (Graphite Deposit)

• Pursuing opportunities to accelerate, grow and diversify

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Corporate Snapshot

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Opportunity to position at an early stage in a global market with exponential growth

• Exponential demand for rechargeable lithium-ion batteries being driven by EV and energy storage demand growth

Established brand in the rechargeable lithium-ion battery industry

• NOVONIX is an established brand name known for making the most accurate battery cell test equipment in the world

Global footprint of blue-chip customers and sales in 14 countries

• Our battery cell test equipment now used by leading battery, auto and equipment makers and researchers including PANASONIC, CATL, BOSCH, 3M

Innovative new products and process being commercialised in large growing market

• Developing & commercialising innovations in battery anode materials & battery test equipment and undertaking R&D in next generation materials

Large world-class high grade (18%TGC) natural graphite resource in Australia

• Considering strategic partners to progress the Mt Dromedary Battery Materials Project

Backed by a board experienced in building and running billion dollar businesses

• Extensive experience in BD, resources, energy, advanced materials, battery industry, project financing, project delivery, operations and scaling Highly-incentivised Board and Management

• The Board and Management hold ~40% of the equity in the company

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Highly experienced Board of Directors

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Chairman Managing Director Executive Director
Tony Bellas Philip St Baker Greg Baynton
Non-Executive Director Non-Executive Director Non-Executive Director
Admiral Robert J. Natter Andrew N. Liveris AO Robert Cooper
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Highly experienced Executive Team

Managing Director Executive Director Philip St Baker Greg Baynton

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CTO NOVONIX BTS VP Business Development Dr David Stevens Nick Liveris

CTO NOVONIX BTS

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CEO PUREgraphite Joint Venture CEO NOVONIX BTS Dr Edward Buiel Dr Chris Burns

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Mt Dromedary GM Steve Hadwen

CFO NOVONIX Group Suzanne Yeates

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About NOVONIX

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NOVONIX LIMITED (ASX: NVX) is an integrated developer and supplier of high performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in 14 countries. The Company also owns a world-class, large and high-grade natural graphite deposit in an established mining province in Australia.

NOVONIX's mission is to accelerate the global development and adoption of Lithium Ion Battery technologies for a cleaner energy future.

FOR FURTHER INFORMATION

Philip St Baker Managing Director Phone: +61 438 173 330 Email: phil@novonixgroup.com Website: www.novonixgroup.com

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Contact information

Corporate contact information

USA & AUSTRALIA

Contact: Philip St Baker Email: phil@novonixgroup.com Telephone: +1 970-376-4918 Telephone: +61 4-3817-3330

New York City, New York, USA

Contact: Nick Liveris Email: nick@novonixgroup.com 33 Irving Pl, New York, NY 10003 Telephone: +1 989-859-3213

Battery Technology Solutions (BTS) facility

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Dartmouth, Nova Scotia, CANADA

Contact: Dr Chris Burns Email: chris@novonixgroup.com 177 Bluewater Road, Bedford, NS B4B 1H1, Canada

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PUREgraphite battery materials development facility

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Chattanooga, Tennessee, USA

1084 Duncan Avenue, Chattanooga, TN, 37404, USA

Brisbane, Queensland, AUSTRALIA

Contact: Greg Baynton Email: greg@novonixgroup.com Level 12 – 114 Edward Street Brisbane, Qld, Australia Telephone: +61 4-1497-0566

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