NOVONIX Ltd — AGM Information 2022

Oct 25, 2022

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2022 AGM

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 contain all the information necessary to make an investment decision. Accordingly, this Presentation is not intended to, and should not, form the basis for any investment, divestment or other financial decision with respect to the Company. Any reproduction or distribution of the Presentation, in whole or in part, or the disclosure of its contents, without prior consent of the Company, is prohibited.

Not an Offer

This Presentation does not constitute, nor does it form part of an offer to sell or purchase, or the solicitation of an offer to sell or purchase, any securities of the Company. This Presentation may not be used in connection with any offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making the offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation. Any offering of securities will be made only by means of a registration statement (including a prospectus) filed with the U.S. Securities and Exchange Commission (the “ SEC ”), after such registration statement becomes effective, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the U.S. Securities Act of 1933, as amended. No such registration statement has become effective, as of the date of this Presentation.

Forward-Looking Statements

This Presentation contains forward-looking statements about the Company and the industry in which it operates. Forward looking statements can generally be identified by use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or other similar expressions. The Company has based such statements on its current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Such 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, regulatory developments in the United States, Australia and other jurisdictions, the continuation of the Company’s partnership with the Research Group of Dr. Mark Obrovac at Dalhousie University for the development of the Company’s technology, the Company’s ability to scale-up production of its anode or cathode materials and the Company’s ability to attract and retain key management and technology personnel. Forward-looking statements are not guarantees of future performance or outcomes and that actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this Presentation. Accordingly, recipients of this Presentation should not place undue reliance on forward looking statements. The Company disclaims any obligation to update any forward-looking statements made in this Presentation to reflect events or circumstances after its date or to reflect new information or the occurrence of unanticipated events, except as required by law.

Industry and Market Data

This Presentation contains estimates and information concerning our industry and our business, including estimated market size and projected growth rates of the markets for our products. Unless otherwise expressly stated, we obtained this industry, business, market, and other information from reports, research surveys, studies and similar data prepared by third parties, industry, and general publications, government data and similar sources. This Presentation also includes certain information and data that is derived from internal research. While we believe that our internal research is reliable, such research has not been verified by any third party.

Estimates and information concerning our industry and our business involve a number of assumptions and limitations. Although we are responsible for all of the disclosure contained in this Presentation and we believe the third-party market position, market opportunity and market size data included in this Presentation are reliable, we have not independently verified the accuracy or completeness of this third-party data. Information that is based on projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate is necessarily subject to a high degree of uncertainty and risk due to a variety of factors, which could cause results to differ materially from those expressed in these publications and reports.

Trademarks, Service Marks and Trade Names

Throughout this Presentation, there are references to various trademarks, service marks and trade names that are used in the Company’s business. “NOVONIX,” the NOVONIX logo and other trademarks or service marks of NOVONIX appearing in this Presentation are the property of NOVONIX or its subsidiaries. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation are listed without the ® or ™symbol, as applicable, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their right thereto. All other trademarks, trade names and service marks appearing in this Presentation are the property of their respective owners.

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TOC

TOC

• NOVONIX Year in Review

• Commercial Progress

• Government Tailwinds

• NOVONIX Anode Materials (NAM)

• Battery Technology Solutions (BTS)

NOVONIX Investment HighlightsNOVONIX Investment Highlights

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Our proprietary process technology and capabilities across the value chain drive innovation and commercial opportunities

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We develop and supply industry leading battery testing equipment

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We are the largest and fastest growing US based supplier of battery grade synthetic graphite with a GWh-scale contract with KORE Power

Our offerings are directly compatible with today’s installed and planned battery manufacturing technology

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Demand for our technologies underpinned by exponential growth in EV sales and energy storage demand over the next decade and beyond

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We have a clear path to profitability with global tier 1 customer base

Our leadership team is highly credentialed, continuing to successfully execute growth agenda

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NOVONIX Notable Milestones

09 Aug 2021: Phillips 66 announced US$150m 19 Jan 2022: Phillips 66 and strategic investment in NOVONIX sign Technology NOVONIX, advancing Development Agreement to NOVONIX’s production of advance the production and synthetic graphite for highcommercialization of anode performance lithium-ion materials for lithium-ion batteries. batteries.

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August 2021

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31 Jan 2022: Executed supply and investment agreements 23 Nov 2021: Ceremonial for ~12,000 tonnes with USopening of NOVONIX’s new based KORE Power to Riverside facility attended by advance and strengthen the US Secretary of Energy, domestic lithium-ion battery Jennifer Granholm. supply chain.

6 June 2022: NOVONIX and Emera Technologies launch 19 Oct 2022: Recipient of the first microgrid battery US$150 million in DOE grant prototype for customer funding to support build-out testing. The prototype unit of NOVONIX’s next 30,000 will be part of an advanced tonnes synthetic graphite microgrid energy storage manufacturing facility. system.

01 Feb 2022: American Depositary Receipts commenced trading on the Nasdaq and celebrated the milestone by ringing the Closing Bell.

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Today
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29 Jun 2022: Announced final results of a Life Cycle Assessment (LCA) conducted by Minviro, demonstrating 7 Oct 2022: NOVONIX Institute NOVONIX’s GX-23 synthetic of Advanced Battery Technology 8 Nov 2022: Hosting Grand anode graphite provides an is launched with Hamilton Opening event of new approximate 60% decrease in County Schools in Chattanooga, Cathode Pilot location global warming potential TN. It provides students with opening. Canadian Provincial relative to conventional the skills and knowledge they Premier Tim Houston will be anode grades. need to succeed in the battery attendance for celebration. industry.

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NOVONIX Continues to Progress from ‘Win’ to ‘Win’ in its Commercialization Plan

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2017: BTS enabling NAM to accelerate sampling of anode product

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2019: Foundational Agreements and Strategic Relationships

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Jan 2022: Largest US based battery grade synthetic graphite contract signed with KORE Power

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Oct 2022: $150 Million in DOE grand funding awarded to NOVONIX to expand its domestic production of high-performance, synthetic graphite anode materials

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Tier-1 Contracts to Support 30,000+ tonnes Greenfield Facilities

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Battery Manufacturers and Auto OEMs Have Announced New Gigafactories to Support North American EV and ESS Growth

North American Battery Initiatives

Key Observations

• Over 800 GWh across 55 manufacturing plants planned planned in North America

• Announcements for new plants with clusters in the Midwest, Southeast and Ontario

• The US Inflation Reduction Act will likely lead to more announcements.

• Current capacity ~50 GWh

• KORE announced on 29 July 2021 the intention to build KOREPlex, a one million square foot manufacturing that will support up to 12 GWh of battery cell production in Buckeye, AZ

• NOVONIX will be the exclusive supplier of graphite anode material to KOREPlex which when in full production will be close to 12,000 tonnes per year of material

Source: Bloomberg BNEF October 2022

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U.S. Legislation is Providing Direct Support to NOVONIX’s Business Plan

• Inflation Reduction Act of 2022 ("IRA") includes an estimated $369 billion in investments related to "climate change and energy security“, including tax and other incentives to promote US production of electric vehicles ("EVs"), renewable energy technologies, and critical minerals, representing the "single biggest climate investment in U.S. history” , according to Senator Chuck Schumer.

IRA Tax Credits & Consumer Credit

• The IRA includes several provisions aimed at bolstering domestic and regional production of critical minerals. These include:

• $7,500 federal consumer tax credit, starting in 2023 based on the origin of materials and localization of manufacturing

• New "advanced manufacturing" and production tax credits

• $500 million appropriation for "enhanced" use of the Defense Production Act economic support under banner of national security

• $40 billion authorized for loan guarantees under Title XVII of the Energy Policy Act of 2005

• From the Trade Act of 1974, if taken off suspension, would see tariffs imposed on foreign imports of graphite to help remove unfair market distortions imposed by China’s anticompetitive behaviors and size advantage in the battery materials sector.

Section 301

Tariffs

• Includes a 25% tariff on artificial graphite imported from China . A waiver was applied to this material which is due to expire at the end of this year.

• A determination by the administration is anticipated after the mid-term election next month.

DOE Loans

• DOE Loan Program Office (LPO) has $15.1 billion in loan authority to support the manufacture of eligible light-duty vehicles and qualifying components under the Advanced Technology Vehicles Manufacturing Loan Program (ATVM), authorized by the Energy Independence and Security Act of 2007, providing debt capital at U.S. Treasury rates.

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NOVONIX Selected as Recipient of US$150 million in DOE Grant Funding

Department of Energy Grant Funding

• A total of $7 billion in grant funding under President Biden’s Bipartisan Infrastructure Law (BIL) has been appropriated to strengthen the North American battery supply chain amidst surging demand and growing calls to onshore these critical industries

• On October 19, 2022, $2.8 billion was provided by DOE’s Office of Manufacturing and Energy Supply Chains (MESC) in collaboration with the Office of Energy Efficiency and Renewable Energy (EERE), authorized by last year’s BIL to boost domestic battery manufacturing and supply chains

• US$150 million of grant funding was awarded to NOVONIX by the Department of Energy (DOE) to expand NAM’s domestic production of high-performance, synthetic graphite anode materials – one of 21 winners across 12 categories

• Specifically, the grant funds will be dedicated to the Company’s construction of a new U.S. manufacturing facility, including site selection, plant layout, and engineering design to allow for additional expansion after installation of an initial 30,000 tonnes per annum (tpa) of production equipment

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Wednesday, October 19, 2022, DOE announced that NOVONIX was selected to enter negotiations to receive US$150 Million in grant funding to support a 30,000 tonnes per annum (tpa) synthetic graphite U.S. manufacturing facility

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Phased Growth Plan Underway for NOVONIX Anode Materials

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Global Market Share [(1)] : 0.8% 0.8% 1.9%
Phase 2: Greenfield #1 & #2
150K Tonne / Yr(2)
Volume /
tonnage phased
Phase 2: Greenfield #1
growth
40K Tonne / Yr (2)
Phase 1: Riverside
(2)
10K Tonne / Yr
2023 2025 2030
Anode Materials Anode Materials Anode Materials
NOVONIX’s
annual production volume would annual production volume would annual production volume would
illustrative
(3) equate to: equate to: equate to:
scale plan
~181K ~727K ~2.7mm
per year per year per year
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• (1) Market share based off implied global graphite demand in 2021, 2026, and 2031. Source: Benchmark Mineral Intelligence Gigafactory Assessment – June 2022. Based on announced capacity. Assumes full utilization.

(2) Company expectations, which may or may not materialize.

• (3) Assumes 55kg of graphite per EV.

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NOVONIX Anode Materials is Executing on its Phase 1 Growth Plan

28 July 2021 : Purchased Purcha‘River s ide’ a 400,000+ ed ‘Riverside’ on July 28th, 2021, square-foo t plant that will his 400,000+ square-foot plant will allow allow for 10,000 tonnes per for 10,000 tonnes per year of year of synthetic graphite sya n thetic graphite anode ode material. material

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July 2022
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Q4 2022 : Completed all major building and utility upgrades to Riverside facility needed for production and laboratory work.

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Q4 2022: Ordered additional furnaces and supporting equipment for full Riverside capacity build out to 10,000 tons per year in support of supply contract with KORE Power.

6 Oct 2022 : Launched the NOVONIX Institute of Advanced Battery Technology in partnership with Hamilton County Future Ready Institute, Tennessee helping to support a battery industry focused workforce for the future.

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Today
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29 Jun 2022: Announced final results of a Life Cycle Assessment (LCA ) conducted Q4 2022: Accomplished by Minviro, demonstrating successful operational trials NOVONIX’s GX-23 synthetic 19 Oct 2022: Recipient of 23 Nov 2021: Ceremonial of first Gen3 furnace system , anode graphite provides an US$150 million in DOE grant opening of NOVONIX’s new collecting operational data to approximate 60% decrease in funding to support build-out Riverside facility attended by enable continued engineering global warming potential of NOVONIX’s next 30,000 US Secretary of Energy, and optimization for longrelative to conventional tonnes synthetic graphite Jennifer Granholm. term reliability and anode grades. manufacturing facility. performance.

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NOVONIX Anode Materials Phase 2: Greenfield Site Selection Underway

Greenfield Plan Overview

Site Rendering

• NAM is planning a new greenfield facility to support an initial 30,000 tonnes per annum (tpa) by 2025, with potential to expand up to 75,000 tonnes

• Site selection process currently underway with several jurisdictions currently being considered

• $150 Million in DOE grant funding was awarded to NOVONIX to support buildout of this facility for domestic production of highperformance, synthetic graphite anode materials

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Battery Technology Solutions (BTS) and Cathode Activities

Battery Technology Solutions Activities

Cathode Synthesis Technology Activities

• Completed year on target for growth in hardware sales and service revenue

• Continued to grow key customer accounts and add new strategic accounts

• Shipped first Microgrid Energy Storage System prototype system out testing with Emera before potential field testing

• Launched a new 10 Amp Ultra High Precision Cycler system showcased at The Battery Show (September)

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• Expanding internal cathode development team and capabilities

• Continued progress development internally and collaboratively with Dr. Obrovac’s group at Dalhousie pursing new IP

• Completed installation of analytical lab to support full analysis of materials on-site

• Continued focus on high nickel and cobalt free materials benchmarking to industry leading materials

• Began installation for all key equipment to support 10 tonnes per year pilot line to be commissioned by December 2022

• Hosting Grand Opening event of location November 8[th] , 2022

• Canadian Provincial Premier Tim Houston will be in attendance for celebration

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Contact Information

NOVONIX Anode Materials

NOVONIX Battery Technology Solutions

1029 West 19th Street, Chattanooga, TN, 37408, USA

177 Bluewater Road, Bedford, NS B4B 1H1, Canada

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353 Corporate Place, Chattanooga, TN, 37419, USA

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110 Simmonds Drive, Dartmouth, NS B3B 1N9, Canada

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Send all investor queries to: ir@novonixgroup.com

This announcement has been authorized for release by NOVONIX Chairman, Admiral Robert J. Natter, USN Ret

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APPENDIX

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NOVONIX’s Proprietary Graphitization Process is Leading the Clean Energy Transformation

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Inputs

• Clean Power Sources[1]

• Energy input 57% carbon-free (15% renewable) with target to be netzero by 2050

Process

• Proprietary Furnace Technology

• Increased energy efficiency

• No chemical purification

Outputs

• NOVONIX’s Anode Materials Support Higher Performance Lithium-Ion Batteries Resulting in the Need for Less Future Input Materials

• Highest Purity Input Materials

  • Negligible Facility Emissions

• Minimizes emissions and contaminants

• Sourcing Input Materials to use in Electric Vehicles and Energy Storage System Applications that would Otherwise be Used in Higher Emission Sectors

The Life Cycle Assessment (LCA) conducted by Minviro Ltd. demonstrated a ~60% decrease in global warming potential (GWP) relative to conventional anode grade synthetic graphite produced in Inner Mongolia, China and a ~30% decrease in GWP when compared to the anode grade natural graphite in Heilongjiang Province, China

1. May FY2021 figures from Tennessee Valley Authority.

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Secretary of Energy, Jennifer M. Granholm Celebrates NOVONIX’s New Riverside Facility

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Key Observations

• Purchased on July 28[th] , 2021, this 400,000+ square-foot plant will allow for 10,000 tonnes per year of synthetic graphite anode material production by 2023

• On November 22[nd] , 2021, NOVONIX celebrated Riverside Recharged to inaugurate the new Riverside facility with keynote speaker Secretary of Energy Jennifer M. Granholm

• Other speakers included:

• TN ECD Commissioner Bob Rolfe

• Director Andrew Liveris AO

• Director Zhanna Golodryga  CEO Chris Burns

  • Hamilton County Mayor Jim Coppinger

  • City of Chattanooga Mayor Tim Kelly

  • Former U.S. Senator Bob Corker

• U.S. Rep. Chuck Fleishmann

• “The local support for this means not just something for Chattanooga, and it's not just for Tennessee, but it really is for the country. The fact that we're at a facility that once employed about 230 people and that now is going to employ 300 people, making the future of our transportation energy system secure, is such a great day for America.” - Secretary of Energy Jennifer M. Granholm

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Strategic Relationship with KORE Power

Highlights of Agreements

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Kore Power to invest $1B in Buckeye

www.westvalleyview.com

• KORE Power is a leading US based developer of battery cell technology for clean energy industries

• NOVONIX and KORE Power have worked together since 2019 through NOVONIX’s BTS division to improve and validate KORE’s battery technology

• KORE announced on 29 July 2021 the intention to build KOREPlex, a one million square foot manufacturing that will support up to 12 GWh of battery cell production in Buckeye, AZ

• KOREPlex scheduled to begin production in early 2024

• Through the signed Supply Agreement, NOVONIX will be the exclusive supplier of graphite anode material to KOREPlex which when in full production will be close to 12,000 tonnes per year of material

• NOVONIX invested $25M USD to acquire a roughly 5% stake in KORE Power

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Mr. Akerson Joins Board of Directors

About Mr. Akerson

• Mr. Akerson has served as an executive and director for multiple Fortune 100 companies, including as the former Chairman and Chief Executive Officer of General Motors from 2010 to 2014.

• Under his leadership, the company completed a successful IPO in November 2010, reported a record 15 consecutive quarters of profitability, reinvested nearly $9 billion, and created or retained more than 25,000 jobs at its U.S. plants.

• In 2002, he joined The Carlyle Group as a Global Partner and Co-Head of U.S. Buyout, and then became head of the firm’s Global Buyout operations. During his tenure, Carlyle’s assets under management rose from $30 to $100 billion.

• In addition to his executive positions, Mr. Akerson currently serves as lead director on the Lockheed Martin Board of Directors and was previously Chairman of the United States Naval Academy Foundation.

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Mr. Edmonds Joins Board of Directors

About Mr. Edmonds

• Mr. Edmonds is a highly accomplished finance executive, currently serving as Chief Accounting Officer at Dow, a $55 billion global materials science company.

• In that role, he spearheaded all financial activity supporting Dow’s historic $86billion merger with DuPont unlocking new sources of value, and creating three independent, publicly traded companies in materials science, agriculture, and specialty products sectors.

• Prior to Dow, he served in finance and accounting roles at Chiquita Brands International, The Upjohn Company, and Arthur Andersen & Company.

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