NEO Battery Materials Ltd. announced that the Company has received a Notice of Allowance from the Korean Intellectual Property Office regarding a core patent of NEO's silicon (Si) anode material technology since the application made in November 2020. The KIPO has determined that the core patent should be registered and will shortly issue the requested patent upon the completion of the necessary documentation. In the first licensing agreement with the Yonsei University-Industry Foundation ("YUIF"), NEO had been granted the worldwide exclusive license for three patents regarding the Company's proprietary silicon nanocoating process to manufacture lithium-ion battery negative electrode (anode) active materials. One of the three patents related to the silicon-polymer composite had been approved by the KIPO for issuance as a registered patent, bringing NEO's patents to a total of 3 with 2 patents that are pending. This patent will be further applied to the U.S. Patent and Trademark Office ("USPTO") and to the World Intellectual Property Organization ("WIPO") through the Patent Cooperation Treaty (PCT) to seek wider ground for IP protection of the Company's Si anode materials.