NEO Battery Materials Achieves Significant Milestone with P-300N Silicon Battery, Demonstrating Over 90% Capacity Retention at 300 Cycles

NEO Battery’s Silicon Battery Excels in Long-Term Performance

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**Toronto, June 5, 2025** (GLOBE NEWSWIRE) – NEO Battery Materials Ltd. (“NEO” or the “Company”) (TSXV: NBM) (OTC: NBMFF), a developer of low-cost silicon anode materials that enhance the performance of lithium-ion batteries, is excited to announce several key developments. These include: (i) the impressive long-term capacity retention results of its advanced silicon battery, P-300N, (ii) the appointment of Dr. Jun Sik Jeoung as Senior Vice President, focused on large-scale battery testing and production expansion, and (iii) the outcomes of the 2025 Annual General and Special Meeting.

### P-300N: Exceptional Long-Term Capacity Testing

NEO has surpassed its performance goals for long-term capacity stability testing with the P-300N, which was introduced in March 2025. This high-stability variant achieved over 90% capacity retention after 300 cycles in a coin full cell format, exceeding the initial target of 80% retention for the same number of cycles. The results position P-300N as one of the most stable silicon battery materials globally, utilizing metallurgical silicon (MG-Si) – the most cost-effective silicon input for battery-grade applications.

To lead the scaling efforts, Dr. J.S. Jeoung has committed to joining NEO full-time as Senior Vice President of Commercialization & Cell Development. With over 17 years of experience at Samsung SDI and other leading automotive companies, Dr. Jeoung has successfully optimized silicon battery materials to achieve commercial-standard performance of 1,000 cycles at 80% capacity retention. The positive results from P-300N now allow NEO to advance to large-cell format testing. Dr. Jeoung and his engineering team have commenced designing battery cells and architecture for single-layer pouch cells. These cells will undergo long-term performance tests of over 500 cycles to fine-tune the interactions between P-300N, graphite anodes, and various cathode materials.

In preparation for near-commercial multi-layer cell testing, the Company is actively engaging with battery prototypers and global manufacturers in South Korea, the U.S., and Germany. Due to the specialized equipment required, multi-layer cell manufacturing will be outsourced. Additionally, Mr. Ricky Lee, a seasoned expert with 35 years in the battery industry, will collaborate with Dr. Jeoung to support NEO’s strategy for large-scale testing and commercialization.

To meet the increased demand from global partners, NEO has secured all necessary post-treatment equipment, and installation is nearing completion at the R&D Scale-Up Centre. Enhanced production parameters and performance milestones have led to the decision to add a key manufacturing unit, which will improve quality through higher precision control and efficient processing of MG-Si.

### 2025 Annual General and Special Meeting Results

NEO is pleased to share the voting results from its Annual General and Special Meeting held on June 4, 2025. All resolutions presented in the Management Information Circular dated April 22, 2025, were approved by shareholders. Out of a total of 119,157,756 voting securities as of the record date of April 15, 2025, 10,971,844 were represented at the meeting, equating to a quorum of 9.21%.

| Motion | Yes Votes | Yes % | No Votes | No % | Abstain Votes | Abstain % |
|——–|———–|——-|———-|——|—————|———–|
| Appoint MNP LLP as Auditor | 10,870,419 | 99.076% | 0 | 0% | 101,425 | 0.924% |
| Set Number of Directors at 5 | 10,906,506 | 99.404% | 65,338 | 0.596% | 0 | 0% |
| Elect Spencer Huh as Director | 10,866,858 | 99.043% | 0 | 0% | 104,986 | 0.957% |
| Elect Seok Hyung Lee as Director | 10,921,516 | 99.541% | 0 | 0% | 50,328 | 0.459% |
| Elect Dongmok Whang as Director | 10,925,616 | 99.579% | 0 | 0% | 46,228 | 0.421% |
| Elect Larry Okada as Director | 10,885,616 | 99.076% | 0 | 0% | 101,425 | 0.924% |
| Approve New Omnibus Equity Incentive Plan | 10,771,191 | 98.171% | 200,653 | 1.829% | 0 | 0% |

The complete voting results will be available on the Company’s website and on SEDAR+ at [www.sedarplus.ca](http://www.sedarplus.ca).

### About NEO Battery Materials Ltd.

NEO Battery Materials is a Canadian technology company dedicated to developing silicon anode materials for lithium-ion batteries used in electric vehicles, electronics, and energy storage systems. With a patented, low-cost manufacturing process, NEO Battery is poised to produce longer-lasting, ultra-fast charging batteries compared to current technologies. The Company aims to become a leading global supplier of silicon anode materials for the electric vehicle and energy storage industries.

For more information, please visit [NEO Battery Materials](https://www.neobatterymaterials.com/).

**On Behalf of the Board of Directors**
Spencer Huh
Director, President, and CEO

**For Investor Relations, PR & More Information:**
info@neobatterymaterials.com
T: +1 (437) 451-7678

This release contains forward-looking statements that reflect management’s objectives, strategies, beliefs, and intentions. The forward-looking information is subject to risks and uncertainties that may cause actual results to differ significantly from those anticipated. Readers should not place undue reliance on forward-looking information, which is valid as of the date of this release and is not updated except as required by applicable securities laws.