Mr. Spencer Huh reports

NEO BATTERY MATERIALS CONFIRMS STABLE AND UNAFFECTED OPERATIONS AMID SOUTH KOREA'S DECLARATION OF EMERGENCY MARTIAL LAW

Neo Battery Materials Ltd. has provided complete assurance and confirmation to its stakeholders that the recent declaration of emergency martial law in South Korea does not and will not impact the company's operations and progress at its research and development scale-up centre located in the country. As of 1 a.m. Korea time, Dec. 4, 2024, the South Korean National Assembly has passed a resolution to end the declaration of emergency martial law.

The South Korean president's declaration was due to the continuing political gridlock between the ruling and opposing parties, and is not due to an imminent or immediate threat to public safety or business activities. Neo Battery's R&D scale-up centre will be unaffected and remain fully operational, with current projects and developments proceeding as planned. The continuity of operations is the company's top priority, and Neo Battery has implemented measures to ensure this remains uncompromised.

Management acknowledges the concerns that such announcements may raise among stakeholders. However, for this particular circumstance, the company wishes to emphasize that such concerns are unwarranted and that there are no foreseeable disruptions to its activities in South Korea. The company appreciates the continued trust and support of its stakeholders as it drives forward its mission of innovating and commercializing advanced battery materials for the global automotive and electronics markets.

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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