• Finalized a USD 80 million investment in cooperation with
  SJL Partners, BNW Investment, and Kiwoom PE in Nexeon (U.K.)

• Established a business operation company for quick mass
  production of silicon anode materials... with a target to start commercial
  operation in 2024

SKC is ramping up its silicon anode material
business, a next-generation material that can significantly improve the
performance of rechargeable batteries. Having invested in Nexeon, the UK-_ base_d
silicon anode technology company, SKC plans to establish a business operation
company to accelerate commercialization.

SKC has formed a consortium with SJL
Partners, BNW Investment, and Kiwoom PE to complete a USD 80 million investment
in Nexeon, and secured an equity stake in Nexeon with the business rights for
silicon anode materials. The SKC Consortium plans to establish a business
operation company to begin mass production this year _ base_d on the business
rights acquired through investment in Nexeon. The goal is to begin commercial
operation by early 2024. As the primary operator of the consortium, SKC will
play the lead role in the business.

The higher content of silicon anode in the rechargeable
battery is known to improve the battery charging speed and the mileage
performance of electric vehicles. Therefore, silicon anode material has
attracted attention as a next-generation material in the electric vehicle
market. According to a market research firm, the material’s market size is
expected to grow to USD 2.9 billion in 2025 and USD 14.6 billion in 2030. Batteries
of electric vehicles are divided into low (less than 15%) and high content (15%
or more) depending on the silicon content in the anode. Electric vehicles are
currently in the initial stage of the commercialization of low-content products.

Nexeon, a technology startup founded in the U.K.
in 2006, has the technology to mass produce silicon anode materials with
excellent performance and cost-effectiveness within a short period. In
particular, it holds the largest number of important patents related to silicon
anode materials.

SKC plans to quickly enter the silicon anode
material business by combining Nexeon’s differentiated technology with global
mass production and marketing capabilities. This year, we will establish a
business operation company to commercialize low-content products, expand into
the global market, and commercialize high-content products in a joint venture
with Nexeon ahead of market opening.

In particular, SKC plans to provide
differentiated solutions to its customers in cooperation with SK Nexilis, which
boasts the world's best copper foil technology. Our advanced material solutions
include using high-strength and high-elongation copper foil technology that
withstands the volume expansion of silicon anode materials to increase the
proportion of silicon anode materials in rechargeable batteries.

An SKC spokesman stated, “We will provide rechargeable
battery material solutions that offer unrivaled quality and cost-effectiveness by
leveraging both of our companies’ competitive advantages onto the world’s best
copper foil technology. The silicon anode material business is on track to grow
quickly to make us the best global ESG material solution provider.” [End]