NEO Battery Materials Appoints Kenneth Hoffman, Distinguished Battery Industry Leader and Former McKinsey’s Global Head of Battery Materials, as New Director

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TORONTO, April 25, 2025 (GLOBE NEWSWIRE) — NEO Battery Materials Ltd. (“NEO” or the “Company”) (TSXV: NBM) (OTC: NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, as part of the Battery Board Transition Initiative, is highly pleased to announce the appointment of Mr. Kenneth Hoffman, CFA, CIM, to its Board of Directors, effective immediately.

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Mr. Hoffman is an internationally distinguished expert in battery materials with over 30 years of experience in investment management, energy, and metals and mining. Previously, Mr. Hoffman was the Global Head of Battery Materials at McKinsey & Company, where he advised on strategic planning, supply chain integration, and capital raising for clients across the global battery value chain. He has conducted more than 100 due diligences involving battery technologies and critical mineral assets and developed AI-enabled evaluation frameworks for leading industry stakeholders.

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Prior to McKinsey, Mr. Hoffman served as the Global Head of Bloomberg Metals & Mining Research at Bloomberg and has held senior investment positions as a Portfolio Manager and Global Director of Research for prominent, large-AUM funds, including Millennium Partners and MarCap Investors.

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As a member of NEO’s Board of Directors, Mr. Hoffman will provide strategic support for industry partnerships, battery market expansion, and corporate development, reinforcing the Company’s position as a leading battery materials innovator. Moreover, his extensive global network and expert understanding of the global battery and investment landscape will be instrumental in advancing NEO’s commercialization of its silicon anode technology.

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In addition to his corporate roles, Mr. Hoffman is frequently invited as a keynote speaker at international forums and conferences, including PDAC, Saudi Arabia’s Future Minerals Forum, Fastmarkets events, and London Metal Exchange conferences. He also serves as a Director of North America’s largest battery industry event, The Battery Show, and is a special advisor to Pure Lithium, a Boston-based lithium metal battery technology company.

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Mr. Kenneth Hoffman commented, “The world is looking for faster charging, less expensive, and higher density batteries. Being able to produce lower cost silicon anodes that enable faster charging and longer cycle life will be a key improvement in battery technology. I look forward to working with NEO as they look to solve these problems facing current silicon anodes.”

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Mr. Spencer Huh, President and Chief Executive Officer of NEO, stated, “We are greatly excited to invite Ken onto NEO’s Board. Ken brings exceptional industry insight and strategic capabilities to the Company. His expertise in battery technology, supply chain development, and investment strategy will prove invaluable as we accelerate the commercialization of our silicon anode technology.”

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As a part of director compensation, the Company has granted incentive stock options (the “Options”) to Mr. Hoffman to acquire an aggregate of 300,000 common shares in accordance with the Company’s 10% rolling stock option plan. Subject to the terms of the stock option agreement, all Options were granted at an exercise price of $0.60 with an expiry date of April 25, 2025, in which 150,000 Options will vest immediately and the remainder in four (4) months from the date of grant.