Novonix (NVX) AGM 2025 summary

Opening remarks and agenda

• Meeting opened by the Chairman, acknowledging traditional land custodians and welcoming both in-person and virtual attendees.

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

• Directors, executive team, auditors, and legal advisors introduced; quorum confirmed and meeting declared open.

• Minutes of the previous meeting approved and available upon request.

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 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: Robert Long appointed interim CEO and CFO; formal search for a new CEO expected to conclude by mid-year 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.

• Dr. Chris Burns transitioned to strategic advisor; new board members welcomed, including Sharan Burrow and Nick Levers.

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