In the news release, Neo Successfully Commissions Heavy Rare Earth Separation Small-Scale Production Line in Europe, issued 10-Apr-2026 by Neo Performance Materials, Inc. over PR Newswire, we are advised by the company that the headline should read "Neo Successfully Commissions Heavy Rare Earth Separation Production Line in Europe" rather than "Neo Successfully Commissions Heavy Rare Earth Separation Small-Scale Production Line in Europe" as originally issued inadvertently. The complete, corrected release follows:

Neo Successfully Commissions Heavy Rare Earth Separation Production Line in Europe

TORONTO , April 10, 2026 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) (OTCQX: NOPMF) today announced the successful commissioning of its heavy rare earth element ("HREE") solvent extraction small-scale production line at its Silmet facility in Estonia. The solvent extraction line is operating at nameplate capacity, with efforts now focused on delivering stable product purity prior to transitioning to routine production capacity.

The operation has produced its first separated terbium and dysprosium process solutions, pre-cursor products for metal making, from mixed rare earth carbonate feedstock, with all processing completed entirely in Europe. This achievement validates the technical robustness and operational reliability of the Silmet HREE solvent extraction line under continuous operating conditions and marks a significant milestone in establishing advanced heavy rare earth separation capability in Europe.

Dysprosium and terbium are essential inputs for high-performance sintered rare-earth permanent magnets used in robotics, electric-vehicle traction motors, wind turbines, and industrial automation applications. By developing this separation capability at Silmet, Neo is advancing a secure, Europe-based supply of these critical materials to support its growing magnet manufacturing operations and to serve the broader strategic objectives of supply chain diversification.

"The successful launch of our heavy rare earth separation in Estonia represents a critical step in Neo's strategy to build the most vertically integrated rare earth magnetics value chain in Europe," said Rahim Suleman, President and Chief Executive Officer of Neo. "Our rare earth value chain now spans both light and heavy rare earth processing, enabling the separation and finishing of select elements into value-added, engineered end-use applications. This achievement enables Neo to provide secure, traceable, and high-quality heavy rare earth materials to our European permanent magnet facility, supporting our customers' most demanding applications."

Today's announcement reflects Neo's commitment to build on its leadership in rare-earth magnetics and critical minerals and to expand its European processing capabilities. Neo's heavy rare earth separation initiative complements its European Permanent Magnet facility in Estonia, which is advancing through customer qualification milestones, with commercial production expected to ramp later in 2026.

Watch a short video showcasing Neo's small-scale heavy rare earth separation line in Estonia here: https://youtu.be/D6hTshWwBJs.

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, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, United States; Singapore; and Beijing, China. Neo has a global platform that includes manufacturing facilities located in Canada, Estonia, China, Germany, Thailand and the United Kingdom, as well as a dedicated research and development center in Singapore. For more information, please visit www.neomaterials.com.

Neo Performance Materials: Cautionary Statements Regarding Forward Looking Statements

This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Specific forward-looking statements in this news release include, but are not limited to, the continued success of the small-scale production HREE solvent extraction line and anticipated ramp up to full scale production and other matters relating thereto. In making the forward-looking information in this news release, the Company has applied certain factors and assumptions that are based on its current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. There are many risk factors associated with the launch and operations of the new HREE solvent extraction line. A number of factors could cause actual results to differ materially from those anticipated by the Company, including but not limited to the risks and uncertainties inherent in the nature of operations including the risks of a material adverse change in the Company's assets or revenues, or risks of unknown liabilities that may arise.

Readers are cautioned not to place undue reliance on forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.

For more information on Neo, investors should review Neo's continuous disclosure filings that are available under Neo's profile on SEDAR+ at www.sedarplus.ca.

SOURCE Neo Performance Materials, Inc.