Mr. Spencer Huh reports

NEO BATTERY MATERIALS TO EXPAND INTO CANADA WITH APPOINTMENT OF DR. LUC C. DUCHESNE AS VP OF GOVERNMENT RELATIONS FOR GRANT FUNDING INITIATIVES

Neo Battery Materials Ltd. has appointed Dr. Luc C. Duchesne, PhD, as the vice-president of government relations to secure government grants and non-dilutive funding initiatives, starting its Canada expansion strategy.

Neo will expand to North America by establishing an R&D (research and development) centre in Ontario next month, taking advantage of favourable commercialization and material optimization progress in South Korea. Producing localized NBMSiDE, Neo's proprietary silicon anode materials, in Canada will facilitate better communication, faster material evaluation, and improved relationships with Canadian and United States global battery manufacturers and EV (electric vehicle) OEMs (original equipment manufacturers), creating increased opportunities for collaboration and innovation.

To strategically expand into Canada through non-dilutive financing, Neo has appointed Dr. Duchesne as vice-president of government relations to lead federal and provincial grant applications, and to manage relationships with government officers and entities. With vast experience in private-public partnerships over a 35-year career, Dr. Duchesne bridges the gap between science and business, having senior-level leadership in multiple sectors, including pharmaceutical, agriculture, manufacturing, energy and mining. He has an extensive record of securing government grants and non-dilutive funding on both the federal and provincial levels.

Dr. Duchesne commented: "I am excited to join the company's journey to commercialization. The potential and level of technology that Neo possesses is one of the first in Canada, and the company will be a critical component within the EV battery supply chain going forward. Our first task will be to build a portfolio of grant applications to secure non-dilutive government funding for Neo's R&D centre in Ontario."

Dr. Duchesne has authored and co-authored 85 peer-reviewed scientific articles, literature reviews and books, and over 300 non-peer-reviewed articles. He is passionate about sustainability and anthropogenic effects on the environment, earning his PhD from the University of Guelph in 1988, an MSc from the University of Toronto in 1985 and a BSc in forestry sciences from Laval University in 1983. As a former scientist with Natural Resources Canada from 1991 to 2003, he received a 5NR Science Award to Leaders in Sustainable Development for advancing and communicating science for sustainable development.

Spencer Huh, president and chief executive officer of Neo, said: "With the decarbonization of the Canadian economy becoming a central policy platform, Neo offers a technology suite that permits governments to meet their policy targets of atmospheric carbon reductions. In parallel, the company aims to establish a task force of battery professionals, university professors and talented personnel like Dr. Duchesne to increase the magnitude of non-dilutive funding amounts. This task force will build a research consortium with public and private entities to deploy Neo's technology platform in North America and conduct long-term studies of its technology."

About Neo Battery Materials Ltd.

Neo Battery Materials is a Canadian battery materials technology company focused on developing silicon anode materials for lithium-ion batteries in electric vehicles, electronics and energy storage systems. With a patent-protected, low-cost manufacturing process, Neo Battery enables longer-running and ultrafast-charging batteries compared with existing state-of-the-art technologies. Building the first commercial plant in South Korea, the company aims to be a globally leading producer of silicon anode materials for the electric vehicle and energy storage industries.

We seek Safe Harbor.