NOVONIX Ltd — Capital/Financing Update 2021

May 9, 2021

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ASX ANNOUNCEMENT (ASX: NVX ) 10 May 2021

NOVONIX SEEKS NASDAQ LISTING

NOVONIX Limited (ASX:NVX) ("NOVONIX") is pleased to announce that it is exploring the secondary trading of its securities on the Nasdaq Stock Market ("Nasdaq").

NOVONIX has submitted a draft registration statement, on a confidential basis, to the U.S. Securities and Exchange Commission (the "SEC") in connection with a potential initial public offering in the United States of American Depositary Shares[1 ] ("ADSs"), and concurrent listing of the ADSs on Nasdaq. Each ADS would represent a certain number of fully paid ordinary shares of NOVONIX.

The number of ADSs that may be offered, the number of underlying NOVONIX ordinary shares that may be issued, the price for such instruments and the timing of the offering have not yet been determined. Any offering is subject to the outcome of the SEC review process, market conditions, investor demand and NOVONIX shareholder approval.

No final decision has been made in respect of the Nasdaq listing and there can be no assurance as to the occurrence, timing and/or completion of such a listing. Following any Nasdaq listing, NOVONIX ordinary shares would continue to trade on the ASX.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended ("Securities Act"). This announcement is being issued in accordance with Rule 135 under the Securities Act.

This announcement has been authorised for release by Tony Bellas, Chairman.

1 An American Depositary Share is an instrument that enables non-U.S. companies to list equity securities on a U.S. stock exchange such as NASDAQ. Each ADS would represent the right to receive, and to exercise the beneficial ownership interests in, the underlying shares. The underlying shares would be held on deposit by a custodian bank in Australia. NOVONIX Limited (ASX: NVX) ACN 157 690 830 GPO Box 525 Brisbane Qld 4001 AUSTRALIA

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MEDIA INQUIRIES:

Ian Pemberton

P&L Corporate Communications +61 402 256 576 Ian.pemberton@plcorporate.com.au

INVESTOR INQUIRIES:

Alex Jorgensen Prosek Partners ajorgensen@prosek.com

ABOUT NOVONIX

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 more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.

NOVONIX Limited (ASX: NVX) ACN 157 690 830 GPO Box 525 Brisbane Qld 4001 AUSTRALIA