NEO Battery Materials Ltd. announce that the Company has secured material transfer agreements ("MTA") with working parties for the purpose of upscaled evaluations of NEO's silicon anode active materials applied towards high-power lithium-ion batteries and efficient electrode manufacturing processes. The MTA constitutes the transfer of materials between the parties and provides stringent clauses for the protection of NEO's proprietary technology. In South Korea, NEO's management and engineers are in the stage of scaling the production capacity of proprietary silicon anode active materials through required capital purchases and process optimization. These technical advancements are directed towards achieving the semi- commercial level output rate of 120 tons per year and the mass shipment of customized prototypes to the Company's working partners. Refining the characteristics of the material and manufacturing method has allowed the Company to undergo increased iterations of product testing and modifications to generate these positive internal developments.