• Delivered first mass production, commercial-grade synthetic graphite sample
• Completed installation and commissioning of mass production equipment for Panasonic
• Received $49.4M in funding from Yorkville Advisors convertible debentures

Novonix Ltd reported significant progress in its Anode Materials (NAM) and Battery Technology Solutions (BTS) divisions during the quarter. In NAM, the company delivered its first mass production, commercial-grade sample of synthetic graphite for industrial applications and completed the installation and commissioning of all required mass production equipment for its lead customer, Panasonic. Novonix continued to provide samples to customers and potential customers across the battery, energy storage, and industrial sectors. The company also received a preliminary determination from the U.S. Department of Commerce imposing antidumping tariffs ranging from 93.5% to 102.7% on imported battery-grade graphite from China, further underscoring the strategic importance of Novonix's domestic synthetic graphite production capabilities. In BTS, the company's Ultra-High Precision Coulometry hardware business surpassed 2024 total revenue, and it continued to advance its all-dry, precursor-free cathode technology, securing a $5 million grant from Natural Resources Canada. Novonix also announced a $100 million convertible debenture transaction with Yorkville Advisors, with $49.4 million received subsequent to the quarter end. The company made several executive appointments, including Dwayne Johnson as Chief Operating Officer and Kimberly Heimert as Chief Legal and Risk Officer, to support its growth and mission.

The company expects to significantly increase United States production of synthetic graphite, a critical mineral, while strengthening American manufacturing and creating high-quality jobs locally.

Novonix remains focused on scaling its synthetic graphite production capabilities at the Riverside facility to become the first large-scale synthetic graphite production facility in North America, underpinned by binding long-term offtake agreements. The company is also advancing its all-dry, precursor-free cathode technology and progressing commercial licensing discussions.