• Certification of $103 million 48C tax credit project
• Divestiture of Battery Technology Solutions business
• Secured rights to evaluate acquisition of adjacent land for Riverside expansion
• Panasonic production timing revised to second half of 2027

NOVONIX announced several key corporate updates in its quarterly report. The company received certification for its $103 million 48C tax credit project, which it expects to receive when the first 11,000 tonnes per annum of production capacity is placed in service before April 2028. NOVONIX also entered a binding term sheet to divest its Battery Technology Solutions business, retaining a 15% equity interest in the cathode technology. The company secured exclusive rights to assess the potential acquisition of 17.5 acres of land adjacent to its Riverside facility, which could enable consolidation of its planned 50,000 tpa capacity onto a single site. Additionally, NOVONIX provided an update on the expected timing for commencement of mass production for its lead battery material customer, Panasonic Energy, which is now expected in the second half of 2027. The report also covered trade environment developments, including the U.S. International Trade Commission's determination that Chinese imports of anode active materials do not materially impede the U.S. industry, as well as new Section 301 investigations by the U.S. Trade Representative. Financially, NOVONIX ended the quarter with $57.1 million in cash and invested $6.8 million in capital expenditures, primarily for production assets at its Riverside facility.