Mr. Spencer Huh reports

NEO BATTERY MATERIALS KOREA GOVERNMENTALLY CERTIFIED AS INNOVATIVE GROWTH VENTURE ENTERPRISE

Neo Battery Materials Ltd.'s NBM Korea Co. (NBMK) has been officially certified as a venture enterprise in the innovative growth category under the Ministry of SMEs and Startups of South Korea. Out of the four venture enterprise categories, innovative growth is the most stringent category to receive certification. NBMK will be entitled to receive benefits, including various tax reductions, financial support, technical expertise support and increased patent protection. Additionally, the venture enterprise certification has enabled South Korean institutional investors to participate in financings due to governmental backing. The innovative growth venture enterprise certification is a governmental authentication process that certifies high-quality, excelling venture companies based on technological innovation and business growth potential. For several months, experts and officials conducted rigorous due diligence with over 15 evaluation criteria, including technology impact, business model and plan, market competitiveness, managerial expertise, on-site visits, and document review.

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.

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