Announcement • Feb 18
NEO Battery Materials Ltd. Achieves Near-Double Flight Time in Live Drone Field Test, Advancing Commercial Readiness of Non-Chinese Battery Platform NEO Battery Materials Ltd. announced the successful completion of a live surveillance drone field demonstration of its newly developed high-performance drone battery cells (the "NBM Drone Cell"), confirming the previously disclosed cell-level performance improvementstranslate directly into real-world operational gains. In a live flight test conducted using a Korean original equipment manufacturer (OEM) customer's commercial surveillance drone product, the NBM Drone Cell delivered a 98% increase in average flight time compared to the mass-produced Chinese drone battery benchmark. After multiple demonstrations, flight duration extended on average from 29.9 minutes to 59.2 minutes under equivalent operating parameters. The test was conducted at an altitude of approximately 70 feet under cold-weather conditions of -3 to -5 degrees Celsius (23 - 26 F). The prolonged flight time was driven by NBM Drone Cell's high-performance specifications of 755 Wh and 260 Wh/kg at the pack-level, representing energy capacity and densityenhancements of 55% and 29%, respectively, compared to the Chinese benchmark. In addition, NEO's high-quality manufacturing produced a more stable voltage profile, enabling low-voltage operations while ensuring safety against power loss and operational failure (crash). The Company will expedite structured customer and government evaluations for commercial integration and expand engagement with drone and UAS manufacturers in the U.S. and NATO countries. Drone and UAS applications represent a key catalyst segment within the global lithium-ion battery market, which was estimated at approximately USD 9.1 billion in 2025 and is projected to exceed USD 29 billion by 20321. As defense, industrial, and consumer UAV (unmanned aerial vehicle) usage scales, battery technology must evolve to meet rigorous performance requirements. Concurrently, advances in faster-charging architecture and complex BMS are broadening the drone/UAS market, enabling longer, safer operations and more efficient energy utilization. As a result, the synergy between drone platform advancement and battery innovation will be a major driver of sustained growth across both markets. Announcement • Feb 11
Neo Battery Materials Ltd. Appoints Chang-Jun Ko as Independent Director NEO Battery Materials Ltd. appointed 4-star General (Ret.) Chang-Jun Ko, former South Korean Army Chief of Staff, to its Board of Directors as an independent director, strengthening the Company's strategic integration with South Korea's defense sector and government stakeholders. General Ko is a highly respected senior military leader of the Republic of Korea (ROK) Army, having most recently served as Acting Chief of Staff of the ROK Army and as the 46th Commander of the Second Operational Command. Over a 36-year distinguished military career, he has held multiple senior command and leadership roles overseeing complex defense operations, force readiness, and large-scale military organizations across the Korean Peninsula. The appointment reflects NEO's focus on expanding its engagement within South Korea's defense and national security ecosystem as the Company advances high-performance battery technologies for drones, unmanned systems (UAS), and defense-related technology applications. General Ko brings deep expertise in field-use requirements and procurement protocols within the ROK Army and the Ministry of National Defense, including active relationships across defense, government, and relevant public-sector organizations. As a board member, General Ko will provide strategic and operational guidance on defense sector engagement and effective pathways for navigating Korea's military procurement and acquisition process. His experience and insights are expected to support NEO's effort to align battery performance, quality, and costs with the standards required for military and government use. Announcement • Jan 22
NEO Battery Materials Ltd. announced that it has received CAD 7 million in funding On January 21, 2026, NEO Battery Materials Ltd. closed the transaction. The company announced that it has issued 11,666,667 units at a price of CAD 0.60 per unit for aggregate gross proceeds of up to CAD 7,000,000.20. Each unit consists of one common share and one non-transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one common share at an exercise price of CAD 0.85 for a period of 36 months from the closing date of the offering. In connection with the Offering, the Company paid an aggregate cash commission of CAD 420,000 and 700,000 non-transferable stock options of the Company exercisable at an exercise price of CAD 0.60 for a period of 36 months from the closing date of the Offering. The Offering is not a Related Party Transaction as defined by Multilateral Instrument 61-101 – Protection of
Minority Security Holders in Special Transactions (“MI 61-101”) and therefore is not subject to TSXV Policy 5.9. The Offering is subject to final acceptance of the TSXV. 
