Neo Performance Materials Inc. Provides Update on Shareholder Rights Plan

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TORONTO, Sept. 29, 2022 /CNW/ - Neo Performance Materials Inc. ("Neo", the "Company") (TSX: NEO) announced today that the Toronto Stock Exchange (the "TSX") has conditionally approved the Company's recently announced shareholder rights plan (the "Rights Plan"). The Rights Plan was adopted by the Board of Directors of the Company on Tuesday, September 20, 2022, pursuant to a shareholder rights plan agreement entered into with Computershare Investor Services Inc., as Rights Agent. The conditional approval of the TSX is subject to certain customary conditions, including the ratification of the Rights Plan by the Company's shareholders at a meeting of shareholders (the "Meeting").

A summary of the principal terms and conditions of the Rights Plan will be set out in the management information circular of the Company to be mailed to shareholders prior to the Meeting. The full text of the Rights Plan is available under the Company's profile on SEDAR at www.sedar.com.

About Neo Performance Materials

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 & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, US; Singapore; and Beijing, China. Neo operates globally with sales, research and development, and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada, United States, and South Korea. For more information, please visit www.neomaterials.com.

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 following: the required approval of the TSX with respect to the Rights Plan and the ratification of the Rights Plan by the Company's shareholders at the Company's next meeting of shareholders. In making the forward-looking information in this 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 are 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. 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 at www.sedar.com.

SOURCE Neo Performance Materials, Inc.

Information Contacts: Ali Mahdavi,SVP, Corporate Development & Capital Markets, [phone], Email: [email protected]; Jim Sims, Director, Corporate Communications, [phone], Email: [email protected]; Website: www.neomaterials.com; Email: [email protected]