NOVONIX Limited Announces Results of Oversubscribed Share Purchase Plan

Key Highlights

• NOVONIX’s (ASX: NVX, NASDAQ: NVX) Share Purchase Plan (SPP) raises A$41.2 million, exceeding the initial target of A$5.0 million.
• SPP priced at A$0.60 per share, with strong shareholder participation and scaling back due to oversubscription.
• Funds to support expansion of equipment at Riverside facility for partnerships with Panasonic, Stellantis, and PowerCo.

Brisbane-based NOVONIX Limited (ASX: NVX, NASDAQ: NVX), a leader in battery materials and technology, has successfully concluded its Share Purchase Plan (SPP), raising A$41.2 million before costs. The offer, originally targeting A$5.0 million, was heavily oversubscribed, reflecting strong shareholder confidence in the company’s growth trajectory.

SPP Oversubscription and Allocation

The SPP, priced at A$0.60 per share, received applications for approximately 68.6 million shares from 2,368 eligible shareholders. This represents a participation rate of 7.8% of eligible shareholders, with an average application amount of A$17,386. To accommodate demand, NOVONIX (ASX: NVX, NASDAQ: NVX) expanded the SPP size by A$27.3 million, raising a total of A$32.3 million, subject to scaling back.

Allocation was determined through a two-stage scale-back process:

• Initial Allocation: Participants received shares proportional to their pre-SPP holding.
• Excess Allocation: Eligible participants received 75% of their application amount above the initial allocation.
• Approximately 53.9 million new shares, representing 8.7% of NOVONIX’s (ASX: NVX, NASDAQ: NVX) total issued shares, will be issued on January 16, 2025. Trading for these shares begins on January 17, 2025.

Strategic Use of Funds

The proceeds from the SPP will enable NOVONIX (ASX: NVX, NASDAQ: NVX) to:

• Expand and enhance its Riverside facility in Chattanooga, Tennessee.
• Support product qualification for partnerships with leading companies, including Panasonic, Stellantis, and PowerCo.

Admiral Robert Natter, NOVONIX’s (ASX: NVX, NASDAQ: NVX) Chairman, expressed gratitude to shareholders: “The overwhelming support for the SPP underscores investor confidence in NOVONIX’s vision for sustainable battery technologies. These funds will accelerate our ability to meet growing demand from global partners and drive innovation in the energy storage market.”

A Growing Global Footprint

NOVONIX’s (ASX: NVX, NASDAQ: NVX) latest funding success follows its fully underwritten A$44.4 million institutional placement and a proposed A$7.7 million placement with Phillips 66, its largest shareholder, pending approval at the Extraordinary General Meeting on January 22, 2025.

This integrated funding strategy ensures NOVONIX (ASX: NVX, NASDAQ: NVX) is well-positioned to:

• Scale its high-performance synthetic graphite operations.
• Develop its patented all-dry, zero-waste cathode synthesis process.
• Expand its R&D capabilities and manufacturing footprint.

Strengthening Strategic Partnerships

The additional equipment at Riverside will further align NOVONIX’s (ASX: NVX, NASDAQ: NVX) production capabilities with the requirements of global partners, including:

• Panasonic: Leveraging NOVONIX’s (ASX: NVX, NASDAQ: NVX) advanced battery materials for energy storage solutions.
• Stellantis: Supporting electric vehicle (EV) battery development.
• PowerCo: Enhancing collaboration on energy storage technologies.

Looking Ahead

NOVONIX (ASX: NVX, NASDAQ: NVX) continues to position itself as a leader in the transition to cleaner energy solutions. Its focus on innovation, sustainability, and partnerships places it at the forefront of the global lithium-ion battery industry. With this SPP’s success, the company strengthens its ability to deliver high-performance materials and technologies critical to the EV and energy storage markets.

About NOVONIX

NOVONIX Limited (ASX: NVX, NASDAQ: NVX) is revolutionizing the global lithium-ion battery industry with its innovative technologies, sustainable practices, and efficient production methods. From advanced R&D to high-performance synthetic graphite production and zero-waste cathode synthesis, NOVONIX (ASX: NVX, NASDAQ: NVX) is driving a cleaner energy future.