NASDAQ Notice of Minimum Bid Price Deficiency

• NOVONIX received notice from NASDAQ that its ADR closing bid price has been below the $1.00 minimum for 30 consecutive business days
• NOVONIX has 180 calendar days to regain compliance by maintaining a closing bid price of at least $1.00 per ADR for 10 consecutive business days
• NOVONIX's ordinary shares listed on the ASX are not affected

NOVONIX Limited (NASDAQ: NVX, ASX: NVX) has received written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq) that the company is not in compliance with the minimum bid price requirement set out in the Nasdaq Listing Rules. The notice states that, for the previous 30 consecutive business days, the closing bid price of the company's American Depositary Receipts (ADRs) listed on the Nasdaq has been below the minimum requirement of US$1.00 per ADR. In accordance with Nasdaq Listing Rules, NOVONIX has 180 calendar days from the date of the notice to regain compliance. To regain compliance, the closing bid price of the company's ADRs must be at least US$1.00 per ADR for a minimum of 10 consecutive business days during the compliance period. The notice has no immediate effect on the listing of the company's ADRs on Nasdaq, and they will continue to trade on Nasdaq during the compliance period. The company's ordinary shares listed on the ASX are not affected. NOVONIX is currently considering available options to regain compliance with the Nasdaq minimum bid price requirement and will continue to monitor the bid price of its securities.