H.C. STARCK TUNGSTEN INVESTS IN NYOBOLT, AN ULTRA-FAST CHARGING, ULTRA-HIGH POWER DENSITY BATTERY BUSINESS

Goslar, GERMANY, 15th July 2022 – H.C. Starck Tungsten Powders (“HCS”), a wholly owned subsidiary of Masan High-Tech Materials (“MHT”), today announced the signing of definitive agreements to invest £45m (approx. €52m) into Nyobolt Limited (“Nyobolt”), a fast-charging Li-ion battery solutions company that leverages HCS’s advanced tungsten materials in its anode, for a 15% equity interest on a fully diluted basis. The investment, representing the majority of Nyobolt’s Series B financing round, is expected to accelerate HCS’s vision of becoming a high-tech, value-added business by developing new tungsten applications critical for the technologies of the future.