Ms. Claire Kennedy reports

NEO ANNOUNCES NEW CHIEF FINANCIAL OFFICER

Neo Performance Materials Inc. has appointed Jonathan Baksh as chief financial officer and executive vice-president, to be effective June 19, 2023.

Neo's chair, Claire Kennedy, said: "Following a rigorous search process, it is my pleasure to welcome Jonathan to Neo. He joins the management team with a proven, superior track record as a finance executive in capital-intensive industries that create value in a volatile, global supply chain environment. He is a consequential executive that drove working capital improvements and oversaw growth. This positions him as a excellent complement to Neo's management, as they execute the magnetics growth strategy."

In his role as CFO and EVP, Mr. Baksh will lead Neo's global finance functions, such as accounting, tax, internal audit, controllership, financial planning and treasury. He will be based at Neo's Toronto headquarters.

Mr. Baksh's experience spans from being the financial steward of value-added manufacturing in the critical supply chains of semi-conductors to overseeing as divisional CFO of a multibillion-dollar global business unit in the electronic manufacturing services industry at Celestica's advanced technology solutions (ATS). Earlier in his career, he delivered deployments of innovative finance operating and quoting standardization systems across multiple manufacturing businesses. He launched his career at General Electric's premier internal audit leadership program and eventually won the annual chairman's circle award -- the highest honour for outstanding performance. He holds both the chartered professional accountant and chartered management accountant designations.

Rahim Suleman, Neo's president and interim CFO, who will assume the position of CEO and president on July 7, 2023, when Constantine Karayannopoulos retires from the company, said: "I want to welcome Jonathan to the senior executive team at Neo. His experience at Celestica and General Electric, in businesses serving highly regulated manufacturing customer constituencies and of large capital projects, is critical for Neo's successful execution of our short-term value creation and long-term growth strategies."

Mr. Baksh said: "Over the past three decades, Neo has built a highly differentiated position in rapidly growing markets of energy transition and clean technologies. This places the business at the forefront of some of the most interesting opportunities created from global supply chain transformations. I am thrilled to be joining the Neo team and to be building on that success."

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.

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