Mr. Spencer Huh reports

NEO BATTERY MATERIALS ANNOUNCES CHANGE OF BUSINESS COMPLETION ON THE TSX VENTURE EXCHANGE TO AN INDUSTRIAL, TECHNOLOGY, OR LIFE SCIENCES ISSUER

Neo Battery Materials Ltd. has received final approval from the TSX Venture Exchange for the change of business into a Tier 2 industrial, technology or life sciences issuer in accordance with TSX-V Policy 5.2 (Changes of Business and Reverse Takeovers).

NEO Battery Materials is progressing towards commercializing its proprietary silicon anode active materials called NBMSiDE(TM). The reclassification as an industrial and technology issuer directly aligns with the Company's main purpose of battery materials technology development. This change further opens strategic opportunities to actively pursue value-enhancing projects and integration into the global battery supply chain.

With the issuance of the final bulletin, the Change of Business will be effective on the TSXV, and the Company's common shares will resume trading at the opening on Thursday, January 11, 2024.

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 ultra-fast charging batteries compared to existing state-of-the-art technologies. The Company aims to be a globally-leading producer of silicon anode materials for the electric vehicle and energy storage industries. For more information, please visit the Company's website at: https://www.neobatterymaterials.com/.

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