Mr. Spencer Huh reports

NEO BATTERY MATERIALS AND LINDE KOREA SIGN MOU TO COLLABORATE ON COMMERCIALIZATION OF SILICON ANODE TECHNOLOGY

Neo Battery Materials Ltd. has signed a memorandum of understanding (MOU) with Linde Korea Co. Ltd., an affiliate of the leading industrial gases and engineering company, on Nov. 6, 2024, to collaborate on the scale-up of Neo's silicon anode manufacturing for lithium-ion batteries. There are no material terms or considerations regarding this MOU.

Under the MOU, Linde, NEO and NBM Korea Co. (NBMK) will collaborate to incorporate and optimize Linde's industrial gases, specifically nitrogen and argon, as critical inert gases in Neo's silicon anode manufacturing process. These gases have a significant role in ensuring the quality of Neo's production environment, minimizing input oxidation risks and enabling quality control of the anode's performance.

Linde and Neo's strategic collaboration is structured to support the technical transition from the current pilot-scale to commercial-scale production. Neo and NBMK will work closely with Linde to define technical requirements and implement leading engineering solutions tailored to optimize Neo's silicon anode manufacturing process. The commitment to adopting Linde's advanced industrial gas technology will enhance the energy efficiency and performance of Neo's silicon anode products.

B. S. Sung, president of Linde Korea, said, "We look forward to working with Neo, combining our extensive expertise and capabilities to drive innovation and create value for our partners while also paving the way for future growth and success."

Spencer Huh, director, president and chief executive officer of Neo, commented: "This MOU with Linde marks a key step in Neo's ongoing route-to-commercialization strategy. Both parties are committed to maintaining a productive relationship toward the mass production of our silicon anodes. By working with a global leader like Linde, we anticipate receiving advanced engineering expertise to realize efficient production and high levels of quality control and assurance."

About Neo Battery Materials Ltd.

Neo Battery is a Canadian battery material 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. 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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