Novonix (NVX) AGM 2025 summary

Opening remarks and agenda

• Meeting opened by the Chairman, with acknowledgment of traditional land custodians and introduction of directors and key executives, both in-person and virtual.

• AGM held on April 2, 2025, with presentations outlining strategic direction and operational highlights.

• Notice of meeting confirmed, quorum established, and voting eligibility explained.

Financial performance review

• Annual report for the year ended 31 December 2024 tabled for discussion, with opportunity for shareholder questions.

• Auditor highlighted a material uncertainty regarding going concern, noting the need for continued capital raising, but issued an otherwise unqualified opinion.

• Completed equity raise to support commercial production of synthetic graphite.

• Quarter-end (Dec 31, 2024) cash balance was US $42.6 million; would have been US $67.8 million with additional placements.

• Received US $12.9 million MESC Grant reimbursement for full year 2024.

Board and executive committee updates

• Leadership transition underway: Dr. Chris Burns moved to strategic advisor; search for new CEO ongoing, expected by mid-2025.

• Announced planned transition in the Chief Executive Officer role in 2025.

• Board includes Admiral Robert J. Natter (Chairman), Tony Bellas (Deputy Chairman), and several non-executive directors.

• New board members welcomed, including Sharon Barrow and Nick Levers; Andrew Liveris continues as strategic advisor.

• Dr. Jeff Dahn and Dr. Mark Obrovac serve as key scientific advisors.