Mr. Greg Kroll reports

NEO PERFORMANCE MATERIALS HOSTS PRIME MINISTER OF ESTONIA AT THE NEW PERMANENT MAGNET FACILITY IN NARVA

Neo Performance Materials Inc. has welcomed the Prime Minister of Estonia to its new European magnet facility in Narva. The Prime Minister was received by Greg Kroll, Neo's executive vice-president for Magnequench, and the team responsible for equipment commissioning and overseeing production for the company's automotive customers. Neo will host an opening ceremony in September, 2025, with the employees who have led this project, customers, government leaders from across the European Union, senior diplomats from supply chain partner countries, investors and media.

Prime Minister Kristen Michal wrote on his social media: "We will make decisions that will help Estonia be a country with convenient business operations, few restrictions and a competitive tax system, where the industries of the future can be built. Neo Performance Materials is a good example of where we are heading. Neo Performance Materials is very ambitious and positive; I wish you much success and great ideas for the future."

Mr. Kroll, Neo's executive vice-president for Magnequench, said: "The Prime Minister's early visit symbolizes the importance of Neo's establishment of an integrated rare earth separation and magnetics hub in Estonia for European automotive and renewable energy supply chains. We also welcome the commitment to continue partnering with the government to unlock more opportunities and remove barriers for Neo's accelerated growth plan."

On time and on budget, Neo continues to achieve significant milestones in the global expansion of its magnetics capabilities. In phase 1 of its facility expansion, Neo successfully executed a multistage production process -- from raw materials to final assembly -- to deliver a high-performance magnet tailored for a specific traction motor platform. Phases 2 and 3 will continue Neo's growth with expanded and new facilities in Estonia and elsewhere, highlighting Neo's advanced technical and operational strength, driven by a deeply experienced global team.

Leveraging over 30 years of rare earth magnetics expertise and cutting-edge lab capabilities, Neo's new facility in Estonia marks a critical step forward in one of the most strategically crucial permanent magnet projects in Europe and globally. This strategy aims to scale magnet manufacturing across Europe and beyond, advancing Neo's mission to build resilient, parallel global supply chains for rare earth magnetics and other critical materials, serving rapidly accelerating markets.

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 in Canada, China, Estonia, Germany, Thailand and the United Kingdom as well as a dedicated research and development centre in Singapore.

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