Mr. Ali Mahdavi reports

NEO PERFORMANCE MATERIALS CONFIRMS SHAREHOLDER MEETING DETAILS AND ANNOUNCES FILING OF MEETING MATERIALS

Neo Performance Materials Inc. today confirmed details regarding its upcoming annual general and special shareholders meeting, to be held on June 8, 2023, at 4 p.m. The company's management information circular has been filed on SEDAR, together with related meeting and proxy materials.

As disclosed in the company's meeting materials, registered shareholders and duly appointed proxyholders will be able to attend and vote at the meeting in person and also access the meeting via a live listen-only audiocast by conference call at 416-764-8650 (Toronto local) or 1-888-664-6383 (toll-free in North America). Shareholders of record as of the close of business on April 26, 2023, are entitled to receive notice of and vote at the meeting and are encouraged to vote by proxy in advance of the meeting by one of the methods described in the circular.

For further information regarding the annual routine and special business items to be considered at the meeting, the company's shareholders should review and consider the meeting materials, which contain important information concerning the meeting and the matters to be considered by the company's shareholders. In connection with the meeting, the Toronto Stock Exchange has informed the company that it has deferred its approval of the company's shareholder rights plan, including any new plan adopted in the next three years, until the company's shareholders approve such plan. At the meeting, the company's shareholders will be asked to approve, ratify and confirm an amended and restated shareholder rights plan (the A&R rights plan), which will be submitted to the TSX for acceptance following the meeting, assuming the company's shareholders approve, ratify and confirm the A&R rights plan by the requisite majority at the meeting. The company's existing shareholder rights plan remains in effect and will terminate in accordance with its terms following the meeting.

Copies of the meeting materials are available on Neo's profile on SEDAR. Neo shareholders who have questions about the matters to be considered at the meeting may contact Neo's strategic shareholder adviser and proxy solicitation agent, Kingsdale Advisors, by phone or text at 1-800-285-8986 toll-free in North America or 1-416-867-2272 outside of North America (collect calls accepted), or by e-mail at contactus@kingsdaleadvisors.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 and magnets, specialty chemicals, metals, and alloys -- are critical to the performance of many everyday products and emerging technologies. Neo's products help to deliver the technologies of tomorrow to consumers today. 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 nine manufacturing facilities located in China, the United States, Germany, Canada, Estonia and Thailand, as well as one dedicated research and development centre in Singapore.

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