Mr. Rahim Suleman reports

NEO PERFORMANCE MATERIALS AND GLOBE METALS & MINING SIGN MOU FOR OFFTAKE OF CRITICAL METALS FROM THE KANYIKA PROJECT'S PHASE 1 PRODUCTION IN MALAWI

Neo Performance Materials Inc. has signed a non-binding memorandum of understanding with Globe Metals & Mining Ltd. for the offtake of up to 150 metric tonnes per year of niobium pentoxide from the Kanyika niobium project in Malawi.

Key highlights:

• The MOU provides the framework for the parties to negotiate a binding commercial offtake agreement for the supply of niobium pentoxide from Globe's Kanyika project in Malawi.
• Under the contemplated offtake agreement, NPM Silmet OU, Neo's rare metals production facility in Sillamae, Estonia, is expected to purchase 150 metric tonnes per year of high-purity niobium pentoxide in phase 1 of the Kanyika project, which is targeted to start production in Q1 2027.
• Following the fulfilment of the initial purchase amounts, it is anticipated that the offtake agreement will be renewed annually.
• Neo also has a limited right of first refusal to purchase other critical metals, such as tantalum and zircon concentrates, produced at the Kanyika project.

Globe's chief executive officer, Paul Smith, said: "The Neo MOU represents a watershed moment for the Kanyika project. It means Globe has now signed multiple MOUs and a letter of intent that, as a package, cover offtake for 100 per cent of Kanyika's phase 1 production of both niobium pentoxide and tantalum pentoxide. We look forward to a long and lasting relationship with Neo and are very pleased to be associated with such a highly regarded group, which enjoys a pre-eminent position in the global market for strategic and critical metals."

Neo's chief executive officer, Rahim Suleman, said: "We are laser focused on diversifying and derisking our supply chain, including our long-term access to critical metals, and expanding into increasingly more downstream value-added applications across all our business lines, including niobium and tantalum. The feedstock agreement with Globe provides an opportunity to engage in multiyear planning to optimize Neo's supply chain."

About Neo Performance Materials Inc.

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials -- magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals and alloys -- are critical to the performance of many everyday products and emerging technologies. Neo's products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides, and Rare Metals. Neo is headquartered in Toronto, Ont., Canada, with corporate offices in Greenwood Village, Colo., United States; Singapore; and Beijing, China. Neo has a global platform that includes manufacturing facilities located in China, Germany, Canada, Estonia, Thailand and the United Kingdom as well as a dedicated research and development centre in Singapore.

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