NOVONIX Provides Update on Scaling U.S. Production of Synthetic Graphite Anode Materials

('KORE’) has closed its first US$75 million out of a total US$150m in funding. NOVONIX, as part of a strategic partnership that will help advance the North American lithium-ion battery supply chain, signed an agreement with NOVONIX to be its exclusive supplier of graphite and anode materials to KORE on January 31, 2022. NOVONIX will increase production at its Riverside plant in Chattanooga (TN) to a target 10,000 tpa when it is fully operational to meet KORE's requirements. To meet KORE's volume requirements, the rate will be approximately 3,000 tpa starting in 2024. It will then ramp up to 12,000 tpa by 2028. The Department of Energy (DOE) has used the funding from the Bipartisan Infrastructure Act to increase its production of synthetic graphite. The Company intends to build a new facility and expand Riverside's production. Riverside continues equipment installation. NOVONIX's Generation 3 graphitization furnaces have been optimized to meet KORE's production requirements. Chris Burns, CEO and Co-Founder of NOVONIX, stated that he is excited to start delivering high-performance synthetic graphite to KORE from Riverside in 2024. This will be our first significant volume offtake. "We are happy with the progress made at Riverside as we bring production online to support mass-production qualification with KORE, and other customers. Burns said more. Burns continued, "We are the only company in North America that scales production of battery-grade graphite and we are confident in the ability to meet the growing demand for electric vehicles and energy storage." NOVONIX About NOVONIX NOVONIX, a world-leading battery technology company, has operations in Canada and the United States. NOVONIX is a global supplier of high-performance, advanced materials, equipment and services to the lithium-ion industry. It has sales in 14 countries. NOVONIX Battery Technology Solutions is a division based in Halifax (Nova Scotia), Canada. It focuses on battery research and development. We also provide advanced battery testing equipment and other services worldwide. The NOVONIX Anode Materials division is located in Chattanooga (Tennessee), USA. It manufactures synthetic graphite anode material used to make lithium-ion battery packs that power electric cars, personal electronics and energy storage units. You can find out more about NOVONIX on LinkedIn, Twitter or URL. For NOVONIX Limited Scott Espenshade (investors), EMAIL(media)