Change Will Not Impact Neo's Current Rare Earth Production Operations in Estonia

TORONTO, Dec. 15, 2023 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO), is pleased to provide an update on its manufacturing strategy execution with respect to Rare Metals operations at the NPM Silmet OÜ plant in Sillamäe, Estonia ("NPM Silmet"). This shift in focus away from midstream toward downstream operations is expected to diversify feedstock supply, reduce working capital requirements, and reduce volatility by lowering inventory volumes and holding times.