Mr. Rahim Suleman reports

NEO ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR AND NOMINEES FOR ANNUAL GENERAL MEETING OF SHAREHOLDERS

Neo Performance Materials Inc. has filed its management information circular and related materials for Neo's annual general meeting of shareholders to be held on June 26, 2025, at 4 p.m. Toronto time, at 40 King St. West, Suite 2400, Toronto, Ont., Canada, under Neo's profile on SEDAR+ and on the company's website.

Due to the potential Canadian postal disruption, shareholders requiring assistance in voting their shares or to obtain replacement proxy materials are encouraged to contact Neo's proxy solicitation agent and shareholder communications adviser, Laurel Hill Advisory Group, by calling 1-877-452-7184 (toll-free in North America) or 1-416-304-0211 (outside of North America) or by e-mail at assistance@laurelhill.com.

The following individuals are standing for election to the board of directors in connection with the meeting: Hua Du, G. Gail Edwards, Edgar Lee, Eric Noyrez, Rahim Suleman, Paul A. Mascarenas, OBE, and Jonathan Evans.

Two nominees, Mr. Mascarenas and Mr. Evans are standing for election to the board for the first time. Both individuals were identified, with the assistance of a global executive recruitment firm, through the board's process of assessment and refreshment, intended to align the skills, experience and expertise on the board with the needs and future development of the business.

Mr. Mascarenas is a venture partner with Fontinalis Partners. He will bring extensive experience and expertise in automotive research and development, product development, and manufacturing to the board. Mr. Mascarenas spent 32 years at the Ford Motor Company, holding various development and engineering positions, and most recently served as chief technical officer and vice-president, leading Ford's worldwide research organization. He is a past director of Mentor Graphics Corp. and automotive supplier BorgWarner Inc. He currently serves as a member of the board of directors at ON Semiconductor, the United States Steel Corp. and the Shyft Group.

Mr. Evans is the president and chief executive officer of Lithium Americas Corp. He will contribute his significant expertise in mergers and acquisitions, capital projects, financing arrangements, and organizational restructuring. In addition, the extensive capital market and investor relations experience he has developed in his current role will be an asset to the board and management team. Mr. Evans has more than 20 years of operations and general management experience across businesses of various sizes and industry applications. Mr. Evans was previously the chief operating officer of DiversiTech Corp. and also held executive management roles at FMC Corp., Arysta LifeScience, Amri Corp. and General Electric.

Neo's board chair, Claire M.C. Kennedy, who has served as director of Neo since 2017 and board chair since 2020, will be retiring from the board and will not stand for election at the meeting. Ms. Kennedy played an important role in leading the board during a critical period in Neo's development. In addition, director John McGarva, who joined the board in 2024 as the independent nominee of Hastings Technology Metals Ltd., will also not stand for election at the meeting.

"Neo is pleased to present shareholders with a refreshed slate of director nominees that will support the company and the management team on the exciting road ahead. In addition to our current directors, our new director nominees each bring a unique set of skills, relevant expertise and industry experience that the board believes will prove invaluable to Neo," said Ms. Kennedy.

"Over the past several years, I have been privileged to work with accomplished fellow directors and our talented management team. I look forward to Neo capitalizing on the current macro and geopolitical environment, delivering superior outcomes for our customers and maximizing value for Neo's shareholders."

"On behalf of Neo, I would like to thank Claire and John for their service to the company. Claire has made significant contributions to the board and to Neo during a transformational period," said Rahim Suleman, Neo's chief executive officer. "I would also like to recognize John for his insights and participation in board deliberations."

At the meeting, shareholders will also be asked to vote on the reappointment of KPMG LLP as auditor of the company for the ensuing year and to authorize the board to fix the remuneration to be paid to the auditor.

Shareholder information and questions

Shareholders with questions regarding voting their shares should contact Neo's proxy solicitation agent and shareholder communications advisor, Laurel Hill Advisory Group, by calling 1-877-452-7184 (toll-free in North America) or 1-416-304-0211 (outside of North America) or by e-mail at assistance@laurelhill.com.

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 and 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 one dedicated research and development centre in Singapore.

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