NVX

• Appointed Michael Kronley as Chief Executive Officer, effective 19 May in Chattanooga. - Signed purchase and sale agreement for 182-acre land parcel in Chattanooga for second mass production site. - Wrapped up equity raise in January, including $5 million investment from Phillips 66 and over $20 million share purchase plan. - Continues to receive funding from DOE MESC grant tied to equipment installation at Riverside facility. - Had successful annual general meeting in Brisbane, released 2024 Sustainability Report. - Participated in U.S. graphite producers' trade case for China anti-dumping, with preliminary win in Q1. - Entered license agreement with Harper International for graphitization furnace technology.

• Path to commercial production at Riverside targets 2025 and 2026, focusing on 3K tons per annum production milestone and product qualification. - Focus on short term of Riverside and first phase of Enterprise South. - Targets production startup at Riverside facility in Chattanooga in 2026 and investing towards full capacity of the site to 20,000 tons per annum.

NOVONIX has three operating segments. The anode materials business is located in Chattanooga, Tennessee, poised to be a large-scale production site for high-performance synthetic graphite. The cathode materials business and Battery Technology Solutions Group are in Halifax, Nova Scotia, Canada. The cathode materials business focuses on commercializing the all-dry, zero-waste cathode process, and the Battery Technology Solutions Group works on ultra-high precision equipment and R&D services with pilot lines. Specific absolute financial details or revenue contribution percentages weren't provided in the transcript.

• Impact from broader macroeconomic environment, specifically tariffs affecting price availability and timing of input materials like steel and critical equipment for facility build-out.

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