NOVONIX Ltd — Capital/Financing Update 2021

Mar 4, 2021

5 March 2021

==> picture [333 x 75] intentionally omitted <==

NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES

CONFIRMATION OF DIRECTOR PLACEMENTS

On 25 February 2021, NOVONIX Limited (ASX:NVX) (NOVONIX or "the Company") announced that the Company had entered into placement agreements with each of Mr Trevor St Baker AO, Mr Andrew N. Liveris AO, Admiral Robert J. Natter and Mr Robert Cooper, pursuant to which new shares were to be issued to the directors or associates of the directors at an issue price of A$2.90 per share, raising A$16.45 million in aggregate ( Director Placements ).

The Director Placements were made conditional on shareholder approval being obtained for the purposes of ASX Listing Rule 10.11 and for all other purposes, and also on completion of the institutional placement and share purchase plan ( SPP ) announced on 25 February 2021.

The institutional placement was successfully completed on 26 February 2021. The Company announced yesterday that it has decided to defer the SPP.

The Company has agreed with the relevant directors that the Director Placements will no longer be conditional on completion of the SPP, and each Director concerned remains committed to the Director Placements.

The Director Placements are now conditional only on shareholder approval, which will be sought at an extraordinary general meeting of shareholders to be held in or about early to mid-April 2021. A notice of meeting for the EGM will be issued to shareholders in due course.

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

ABOUT NOVONIX

NOVONIX LIMITED (ASX: NOVONIX) 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.

For any questions, please contact IR@novonixgroup.com

IMPORTANT DISCLAIMER

This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.

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