{"id":18368,"date":"2023-08-11T07:00:41","date_gmt":"2023-08-11T11:00:41","guid":{"rendered":"http:\/\/www.neomaterials.com\/?p=18368"},"modified":"2024-04-25T21:44:25","modified_gmt":"2024-04-26T01:44:25","slug":"neo-second-quarter-2023-results","status":"publish","type":"post","link":"https:\/\/www.neomaterials.com\/neo-second-quarter-2023-results\/","title":{"rendered":"Neo Performance Materials Reports Record Second Quarter 2023 Results"},"content":{"rendered":"<p class=\"prntac\" style=\"text-align: center;\"><b><span style=\"font-size: 14pt;\">Q2 2023 Highlights<\/span><br \/>\n<\/b><i>(unless otherwise noted, all financial amounts in this news release are expressed in U.S. dollars)<\/i><\/p>\n<ul type=\"disc\">\n<li>Q2 2023 record revenue of $170.4 million, higher by 1.3% YoY.<\/li>\n<li>Operating income of $13.7 million in the quarter.<\/li>\n<li>Adjusted Net Income<sup>(1)<\/sup>\u00a0of $2.5 million in the quarter, or $0.05 per share.<\/li>\n<li>Adjusted EBITDA<sup>(1)<\/sup>\u00a0of $19.5 million in the quarter.<\/li>\n<li>Completed the acquisition of 90% of SG Technologies Group Limited (&#8220;<b>SGTec<\/b>&#8220;).<\/li>\n<li>Investment of $4.5 million for 44% of Neo North Star Resources Inc. (&#8220;<b>NNSR<\/b>&#8220;), including an off-take agreement of 60% of the product produced.<\/li>\n<li>Cash balance of $126.9 million, after funding acquisitions and investments of $16.1 million, distributing $6.7 million in dividends to its shareholders, and repurchasing $1.2 million of shares under the Normal Course Issuer Bid (the &#8220;<b>NCIB<\/b>&#8220;).<\/li>\n<li>A quarterly dividend of Cdn$0.10 per common share was declared on August 10, 2023 for shareholders of record at September 20, 2023, with a payment date of September 29, 2023.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span class=\"legendSpanClass\">TORONTO<\/span>,\u00a0<span class=\"legendSpanClass\">Aug. 11, 2023<\/span>\u00a0\/CNW\/ &#8211; Neo Performance Materials Inc. (&#8220;<b>Neo<\/b>&#8220;, the &#8220;<b>Company<\/b>&#8220;) (TSX: NEO) released its second quarter 2023 financial results. The financial statements and management&#8217;s discussion and analysis (&#8220;<b>MD&amp;A<\/b>&#8220;) of these results can be viewed on Neo&#8217;s web site at\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2193461871&amp;u=http%3A%2F%2Fwww.neomaterials.com%2Finvestors%2F&amp;a=www.neomaterials.com%2Finvestors%2F\" target=\"_blank\" rel=\"noopener\">www.neomaterials.com\/investors\/<\/a>\u00a0and on SEDAR at\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2077014298&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"noopener\">www.sedar.com<\/a>.<\/p>\n<p>&#8220;Neo reported record sales during the second quarter, driven by the strength of our Rare Metals business unit,&#8221; said Rahim Suleman, Chief Executive Officer of Neo. &#8220;Despite the subdued market environment for rare earth magnetics, and continuing lead-lag pricing challenges that we must navigate, our top-line performance was helped by high volumes for value-added rare earth products outside of China. This performance generated healthy cash from operations and free cash flow, which allowed us to fund the acquisition of SG Technologies Group Limited, the investment in Neo North Star Resources, and the groundbreaking for our permanent magnet manufacturing plant in Narva, Estonia.\u00a0 Neo continues to be well positioned to execute our future growth initiatives.&#8221;<\/p>\n<p>Mr. Suleman added, &#8220;As a leading global rare earths magnetics company, we are keenly focused on executing against our growth initiatives, and we look forward to expanding our parallel supply chains inside and outside of China.&#8221;<\/p>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>HIGHLIGHTS OF Q2 2023 CONSOLIDATED PERFORMANCE<\/b><\/div>\n<p>For the three months ended June 30, 2023, consolidated revenue was $170.4 million compared to $168.2 million for the same period in the prior year; an increase of $2.2 million or 1.3%.\u00a0 Neo reported net income of $0.3 million, or $0.01 per share, compared to $14.7 million, or $0.36 per share, in the same period of 2022.\u00a0 Adjusted Net Income<sup>(1)<\/sup>\u00a0totaled $2.5 million, or $0.05 per share, compared to $15.9 million, or $0.39 per share, in the corresponding period of the prior year.\u00a0 Adjusted EBITDA<sup>(1)<\/sup>\u00a0was $19.5 million, a decline of 26.1% compared to Adjusted EBITDA<sup>(1)<\/sup>\u00a0of $26.5 million in the second quarter of 2022.<\/p>\n<p>As of June 30, 2023, Neo had cash and cash equivalents of $126.9 million plus restricted cash of $3.3 million, compared to $147.5 million plus $1.2 million as at December 31, 2022.\u00a0 For the six months ended June 30, 2023, Neo funded $11.6 million for the acquisition of SGTec, net of cash acquired of $0.8 million and $2.0 million of the proceeds held in escrow, invested $4.5 million in NNSR, paid $6.7 million in dividends to its shareholders and spent $1.2 million in shares repurchased under the NCIB.\u00a0 Neo also repaid $24.3 million of its bank advances and its debt facility in the six months ended June 30, 2023.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>SELECTED FINANCIAL RESULTS<\/b><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>TABLE 1: Selected Consolidated Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr10 prnpl2 prnvab prnsbtb1 prnrbrb1 prnbbbs prnbsbls\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" style=\"text-align: right;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" style=\"text-align: right;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Year-over-Year Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">170,430<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">168,221<\/span><\/p>\n<\/td>\n<td class=\"prngen10\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">305,960<\/span><\/p>\n<\/td>\n<td class=\"prnpr10 prnpl2 prnvab prntar prncbts prnbrbrs prnbbbs prnbsbls\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">334,503<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Operating income<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">13,675<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">20,963<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,678<\/span><\/p>\n<\/td>\n<td class=\"prngen14\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">49,648<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">14,584<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">27,225<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">13,440<\/span><\/p>\n<\/td>\n<td class=\"prngen14\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">60,608<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19,548<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">26,456<\/span><\/p>\n<\/td>\n<td class=\"prngen13\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">20,335<\/span><\/p>\n<\/td>\n<td class=\"prngen14\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">59,573<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA %<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">11.5\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">15.7\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6.6\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">17.8\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>_________________________<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 8pt;\"><i><sup>(1)<\/sup><\/i><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>MAGNEQUENCH SEGMENT RESULTS<\/b><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>TABLE 2: Selected Magnequench Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" style=\"text-align: right;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" style=\"text-align: right;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Year-over-Year Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Volume (tonnes)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,037<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,218<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,024<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,523<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">49,329<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">78,412<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">104,494<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">152,426<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Operating income<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,077<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">12,862<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,032<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">23,098<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,412<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">15,923<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,639<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">29,469<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,274<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">15,325<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,530<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">28,102<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>_________________________<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i><sup>(1)<\/sup><\/i><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>For the three and six months ended June 30, 2023, volumes in the Magnequench segment saw a decline with respect to the prior year period. The permanent magnet industry remains sluggish which has impacted volumes across all applications.\u00a0 This has impacted markets in China, Japan and Europe and has also contributed to the general price weakness of rare earth magnetic elements.\u00a0 In addition, with changing demand outlooks and excess inventory across supply chains, select customers have focused on destocking which has impacted Magnequench volumes in the short term. To address the economic impact of declining volumes in the short term, Magnequench conducted a rationalization of its work force and other cost savings activities in the first half of 2023.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>CHEMICALS &amp; OXIDES (&#8220;C&amp;O&#8221;) SEGMENT RESULTS<\/b><\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 63.2688%;\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen9\" colspan=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>TABLE 3: Selected C&amp;O Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr4 prnpl2 prnvab prnsbtb1 prnbrbrs prnbbbs prnbsbls\"><\/td>\n<td class=\"prngen19\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" style=\"text-align: right;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Year-over-Year Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">71,276<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">69,350<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">122,565<\/span><\/p>\n<\/td>\n<td class=\"prnpr4 prnpl2 prnvab prntar prncbts prnbrbrs prnbbbs prnbsbls\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">137,013<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Operating income (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen25\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,524<\/span><\/p>\n<\/td>\n<td class=\"prngen25\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,146<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4,602)<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">26,622<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen25\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,618<\/span><\/p>\n<\/td>\n<td class=\"prngen25\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">10,755<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,905)<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">29,721<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen25\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,913<\/span><\/p>\n<\/td>\n<td class=\"prngen25\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,663<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,649)<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">29,573<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>_________________________<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i><sup>(1)<\/sup><\/i><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>In the three months ended June 30, 2023, the C&amp;O volume and pricing dynamics were mixed with rare earth pricing for neodymium and praseodymium elements continuing to face pricing headwinds offset by strong performance in high purity dysprosium.\u00a0 The dysprosium volumes were related to the higher-value, multi-layer ceramic capacitor (&#8220;<b>MLCC<\/b>&#8220;) market as opposed to the standard grade dysprosium which goes into the magnetics market.\u00a0 C&amp;O&#8217;s environmental emissions catalyst business also showed strong volumes as China recovered from a slower first quarter of 2023.\u00a0 The rare earth separation operations benefited from lead-lag (using historical cost inventory with current sales prices) in 2022; reversely, the decline in rare earth prices has negatively impacted lead-lag in 2023.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>RARE METALS SEGMENT RESULTS<\/b><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"5\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>TABLE 4: Selected Rare Metals Results<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen19\" style=\"text-align: right;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen19\" style=\"text-align: right;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Year-over-Year Comparison<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Q2 2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen8\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>YTD Q2 2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">49,825<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">25,892<\/span><\/p>\n<\/td>\n<td class=\"prngen27\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">78,901<\/span><\/p>\n<\/td>\n<td class=\"prnpr2 prnpl2 prnvab prntar prncbts prnbrbrs prnbbbs prnbsbls\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">54,954<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Operating income<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">16,686<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,264<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">22,518<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,987<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">17,109<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,358<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">22,316<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,870<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Adjusted EBITDA<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">16,950<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,174<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">23,114<\/span><\/p>\n<\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,515<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>_________________________<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i><sup>(1)<\/sup><\/i><i>Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221; and &#8220;EBITDA&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this news release and in the MD&amp;A.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>Rare Metals continued its strong earnings trend in the first six months of 2023. In the three months ended June 30, 2023, the segment delivered record margin performance driven by strength in Hafnium pricing and demand. The upward trend in Hafnium prices which began in the fourth quarter of 2021 has continued in the second quarter of 2023 with an increase of over 30% during the three months ended June 30, 2023. The recycling purchases and activities of Rare Metals were particularly impactful to maintaining and growing margins as the scrap material purchased in the same quarter is not rising as fast as selling prices for finished goods.<\/p>\n<p>In July 2023, the Government of China announced export restrictions on gallium and germanium effective August 1, 2023. The Rare Metals segment is one of the only gallium recycling operations outside of China and presents an opportunity for companies to source high purity gallium outside of China.\u00a0 The segment continues to seek sourcing additional gallium waste streams to support global market growth.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>CONFERENCE CALL ON FRIDAY AUGUST 11, 2023 AT 10 AM EASTERN<\/b><\/div>\n<p>Management will host a teleconference call on Friday August 11, 2023 at 10:00 a.m. (Eastern Time) to discuss the second quarter 2023 results.\u00a0 Interested parties may access the teleconference by calling (416) 764-8650 (local) or\u00a0 (888) 664-6383 (toll free long distance) or by visiting\u00a0<u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=46358924&amp;u=https%3A%2F%2Fprotect-us.mimecast.com%2Fs%2FLntjCVOrwgFJ65qtzGviS%3Fdomain%3Dapp.webinar.net&amp;a=https%3A%2F%2Fapp.webinar.net%2Fm3qYLpRB9kM\" target=\"_blank\" rel=\"noopener\">https:\/\/app.webinar.net\/m3qYLpRB9kM<\/a><\/u>.\u00a0 A recording of the teleconference may be accessed by calling (416) 764-8677 (local) or (888) 390-0541\u00a0 (toll free long distance), and entering pass code 665836# until September 11, 2023.<\/p>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>NON-IFRS MEASURES<\/b><\/div>\n<p>This news release refers to certain non-IFRS financial measures and ratios such as &#8220;Adjusted Net Income&#8221;, &#8220;EBITDA&#8221;, &#8220;Adjusted EBITDA&#8221;, and &#8220;Adjusted EBITDA Margin&#8221;.\u00a0 These measures and ratios are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and may not be comparable to similar measures presented by other companies. Rather, these measures and ratios are provided as additional information to complement IFRS financial measures by providing further understanding of Neo&#8217;s results of operations from management&#8217;s perspective. Neo&#8217;s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting.\u00a0 Non-IFRS measures and ratios have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of Neo&#8217;s financial information reported under IFRS.\u00a0 Neo uses non-IFRS financial measures and ratios to provide investors with supplemental measures of its base-line operating performance and to eliminate items that have less bearing on operating performance or operating conditions and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures.\u00a0 Neo believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures and ratios in the evaluation of issuers.\u00a0 Neo&#8217;s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period. For definitions of how Neo defines such financial measures and ratios, please see the &#8220;Non-IFRS Financial Measures&#8221; section of Neo&#8217;s management&#8217;s discussion and analysis filing for the three and six months ended June 30, 2023, available on Neo&#8217;s web site at www.neomaterials.com and on SEDAR at www.sedar.com.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>TABLE 5: CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/b><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 71.0066%;\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>June 30, 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>December 31, 2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>ASSETS<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\"><\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Current<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\"><\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 126,915<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 147,491<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Restricted cash<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,272<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,179<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Accounts receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">87,304<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">81,409<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Inventories<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">178,020<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">212,702<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income taxes receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,191<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">355<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Assets held for sale<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">66<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">24,074<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">23,279<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total current assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>420,842<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>466,415<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Property, plant and equipment<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">92,167<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">75,767<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Intangible assets<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39,854<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">42,984<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Goodwill<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">64,311<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">66,042<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Investments<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">17,782<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">16,363<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Deferred tax assets<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,120<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,956<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Other non-current assets<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,401<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,933<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total non-current assets<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>224,635<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>210,045<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 645,477<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 676,460<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\"><\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\"><\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>LIABILITIES AND EQUITY<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\"><\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Current<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\"><\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Bank advances and other short-term debt<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,288<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Accounts payable and other accrued charges\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">62,577<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">69,093<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income taxes payable<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">12,678<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">10,033<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Provisions<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,299<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,369<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Lease obligations<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,554<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,264<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Derivative liability<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">37,186<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">28,570<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Current portion of long-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">747<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,131<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">278<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total current liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>116,433<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>128,642<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Long term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">26,609<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">29,885<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Employee benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">457<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">489<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Derivative liability<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,894<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Provisions<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">24,653<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">23,604<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Deferred tax liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">15,869<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">13,942<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Lease obligations<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,482<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">813<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other non-current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,861<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,442<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total non-current liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>76,825<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>70,175<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>193,258<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>198,817<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Non-controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,874<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,193<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity attributable to equity holders of Neo Performance Materials Inc<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">449,345<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">474,450<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>452,219<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>477,643<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 62.9685%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total liabilities and equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 15.4423%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 645,477<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 20.2399%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 676,460<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">See accompanying notes to this table in Neo&#8217;s Consolidated Financial Statements for the Three and Six Months Ended June 30, 2023, available on Neo&#8217;s website at\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2888776584&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"noopener\">www.neomaterials.com<\/a>\u00a0and on SEDAR at\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2077014298&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"noopener\">www.sedar.com<\/a>.<\/span><\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>TABLE 6: CONSOLIDATED RESULTS OF OPERATIONS<\/b><\/div>\n<p><i>Comparison of the three and six months ended June 30, 2023 to the three and six months ended June 30, 2022:<\/i><\/p>\n<p>&nbsp;<\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 99.6809%;\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"width: 21.238%; text-align: center;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Three Months Ended June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"width: 19.4237%; text-align: center;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Six Months Ended June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\" style=\"width: 57.4173%;\"><\/td>\n<td class=\"prngen34\" style=\"width: 10.5656%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen36\" style=\"width: 10.6724%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen34\" style=\"width: 9.92529%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen36\" style=\"width: 9.4984%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Revenue<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 170,430<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 168,221<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0 305,960<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0 334,503<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Costs of sales<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Costs excluding depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">132,589<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">121,796<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">249,210<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">236,112<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,368<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,388<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,536<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,766<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Gross profit<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>35,473<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>44,037<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>52,214<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>93,625<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Expenses<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Selling, general and administrative<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">16,111<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">14,262<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">30,982<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">28,515<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Share-based compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(82)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">957<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">768<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,138<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,814<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,853<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,580<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,748<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Research and development<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,955<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,707<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,206<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">10,281<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">295<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">295<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\" style=\"width: 57.4173%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">21,798<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">23,074<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">42,536<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">43,977<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Operating income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>13,675<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>20,963<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>9,678<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>49,648<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other expense<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(171)<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(855)<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(649)<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,288)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Finance cost, net<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4,085)<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,292)<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(8,097)<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,706)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Foreign exchange (loss) gain<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(662)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">959<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,242)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">548<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Income (loss) from operations before income taxes and equity (loss) income of associates<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>8,757<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>18,775<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(310)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>46,202<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income tax expense<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(5,988)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(6,001)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(7,598)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(11,996)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Income (loss) from operations before equity (loss) income of associates<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2,769<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>12,774<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(7,908)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>34,206<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Equity (loss) income of associates (net of income tax)<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,440)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,917<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,463)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,186<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net income (loss)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 329<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,691<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0 (10,371)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,392<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Attributable to:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.92529%;\"><\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity holders of Neo<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 310<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,607<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0 (10,144)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 36,957<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Non-controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">84<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(227)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">435<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\" style=\"width: 57.4173%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 329<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,691<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0 (10,371)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,392<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen39\" style=\"width: 67.9829%;\" colspan=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Earnings (loss) per share attributable to equity holders of Neo Performance Materials Inc.:<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.01<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.36<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.22)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.91<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 57.4173%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.5656%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.01<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 10.6724%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.36<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 9.92529%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.22)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 9.4984%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.90<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">See Management&#8217;s Discussion and Analysis for the Three and Six Months Ended June 30, 2023, available on Neo&#8217;s website at\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2888776584&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"noopener\">www.neomaterials.com<\/a>\u00a0and on SEDAR at\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2077014298&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"noopener\">www.sedar.com<\/a>.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>TABLE 7: RECONCILIATION OF NET INCOME TO EBITDA, ADJUSTED EBITDA AND FREE CASH FLOW<\/b><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 82.7262%;\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"width: 27.2493%; text-align: center;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Three Months Ended June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"width: 24.4216%; text-align: center;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Six Months Ended June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen40\" style=\"width: 46.0154%;\"><\/td>\n<td class=\"prngen41\" style=\"width: 13.4961%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen43\" style=\"width: 13.7532%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen41\" style=\"width: 12.2108%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen43\" style=\"width: 12.2108%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net income (loss)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 329<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,691<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen45\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (10,371)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,392<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Add back (deduct):<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Finance cost, net<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,085<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,292<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,097<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,706<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income tax expense<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,988<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,001<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,598<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">11,996<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization included in costs of sales<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,368<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,388<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,536<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,766<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization included in operating expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,814<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,853<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,580<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,748<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>EBITDA<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>14,584<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>27,225<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>13,440<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>60,608<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjustments to EBITDA:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other expense\u00a0<sup>\u00a0(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">171<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">855<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">649<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,288<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Foreign exchange loss (gain)\u00a0<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">662<\/span><\/p>\n<\/td>\n<td class=\"prngen45\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(959)<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,242<\/span><\/p>\n<\/td>\n<td class=\"prngen45\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(548)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity loss (income) of associates<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,440<\/span><\/p>\n<\/td>\n<td class=\"prngen45\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,917)<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,463<\/span><\/p>\n<\/td>\n<td class=\"prngen45\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3,186)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Share-based compensation\u00a0<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen45\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(82)<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">957<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">768<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,138<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Fair value adjustments to inventory acquired\u00a0<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">572<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">572<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">295<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">295<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Transaction costs (recoveries)\u00a0<sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,201<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,201<\/span><\/p>\n<\/td>\n<td class=\"prnpr6 prnpl2 prnvab prntar prnsbtb1 prnrbrb1 prnbbbs prnsblb1\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(22)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjusted EBITDA\u00a0<sup>(6)<\/sup><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 19,548<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,456<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,335<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 59,573<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>Adjusted EBITDA Margins\u00a0<sup>(6)<\/sup><\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>11.5\u00a0%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>15.7\u00a0%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>6.6\u00a0%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>17.8\u00a0%<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\"><\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Capital expenditures\u00a0<sup>(7)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a06,820<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,582<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0 \u00a0 \u00a0 \u00a011,836<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,364<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Free Cash Flow\u00a0<sup>(6)<\/sup><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,728<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 23,874<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8,499<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 50,209<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen29\" style=\"width: 46.0154%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>Free Cash Flow Conversion<sup>\u00a0(6)<\/sup><\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 13.4961%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">65.1\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 13.7532%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">90.2\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">41.8\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: right; width: 12.2108%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">84.3\u00a0%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><u>Notes:<\/u><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen49\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents other expenses resulting from non-operational related activities, including provisions for damages for outstanding legal claims related to historic volumes.\u00a0 These costs and recoveries are not indicative of Neo&#8217;s ongoing activities.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents unrealized and realized foreign exchange losses (gains) that include non-cash adjustments in translating foreign denominated monetary assets and liabilities.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents share-based compensation expense in respect of the Plan and the LTIP.\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">In accordance with IFRS 3\u00a0<i>Business Combinations<\/i>, and on completion of the acquisition of SGTec, Neo recorded the acquisition of SGTec&#8217;s inventory at fair value, which included a mark-up for profit of $1.3 million.\u00a0 A portion of this inventory was sold in the three months ended June 30, 2023 and had a $0.6 million impact on Net (loss) income.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">These represent primarily legal, professional advisory fees and other transaction costs for capital structuring associated with Neo or investments of Neo.\u00a0 Neo has removed these charges to provide comparability with historic periods.\u00a0 For the three and six months ended June 30, 2023, Neo incurred a total acquisition-related costs of $1.2 million in the acquisition of SGTec.\u00a0 These costs have been included in selling, general and administrative costs in the condensed consolidated statements of profit or loss.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221;, &#8220;Free Cash Flow&#8221; and &#8220;Free Cash Flow Conversion&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this new release and in the MD&amp;A, available on Neo&#8217;s website\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2888776584&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"noopener\">www.neomaterials.com<\/a>\u00a0and on SEDAR at\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2077014298&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"noopener\">www.sedar.com<\/a>.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents capital expenditures of $9.6 million and right-of-use assets of $2.2 million.\u00a0 Excluding the additions of Property, Plant and Equipment of $12.0 million from the acquisition of SGTec.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>TABLE 8: RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME<\/b><\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<p>&nbsp;<\/p>\n<table class=\"prnbcc\" style=\"width: 73.878%; height: 1188px;\" border=\"1\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr style=\"height: 76px;\">\n<td class=\"prngen29\" style=\"height: 76px; width: 41.2104%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"height: 76px; width: 29.683%; text-align: center;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Three Months Ended June 30,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"height: 76px; width: 27.0894%; text-align: center;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Six Months Ended June 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen32\" style=\"height: 52px; width: 41.2104%;\"><\/td>\n<td class=\"prngen38\" style=\"height: 52px; width: 14.8415%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen20\" style=\"height: 52px; width: 14.8415%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"height: 52px; width: 13.6888%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen20\" style=\"height: 52px; width: 13.4006%; text-align: center;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net income (loss)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 329<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,691<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0 (10,371)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,392<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjustments to net income (loss):<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Foreign exchange loss (gain)\u00a0<sup>(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">662<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(959)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,242<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(548)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">295<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">295<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Share-based compensation\u00a0<sup>(2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(82)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">957<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">768<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,138<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Transaction costs (recoveries)\u00a0<sup>(3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,201<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,201<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(22)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other items included in other expense\u00a0<sup>(4)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">212<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">947<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">619<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,494<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 76px;\">\n<td class=\"prngen29\" style=\"height: 76px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Fair value adjustments to inventory acquired\u00a0<sup>(5)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 76px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">572<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 76px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 76px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">572<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 76px; text-align: right; width: 13.4006%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Tax impact of the above items<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(429)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(44)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(547)<\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(397)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjusted net income\u00a0<sup>(6)<\/sup><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,465<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15,887<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen30\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (6,516)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 39,352<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td class=\"prngen32\" style=\"height: 24px; width: 41.2104%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 13.6888%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 13.4006%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Attributable to:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Equity holders of Neo\u00a0<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,446<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15,803<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (6,289)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 38,917<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Non-controlling interest<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 19<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 84<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(227)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0435<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td class=\"prngen32\" style=\"height: 24px; width: 41.2104%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 14.8415%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 13.6888%;\"><\/td>\n<td class=\"prngen37\" style=\"height: 24px; text-align: right; width: 13.4006%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen39\" style=\"height: 52px; width: 97.9828%;\" colspan=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Weighted average number of common shares outstanding:<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">45,196,921<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">40,681,902<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">45,196,921<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">40,681,548<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">45,621,275<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">41,001,055<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">45,196,921<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">41,089,719<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen39\" style=\"height: 52px; width: 97.9828%;\" colspan=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjusted earnings (loss) per share\u00a0<sup>(6)<\/sup>\u00a0attributable to equity holders of Neo:<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.05<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.39<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.14)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.96<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen29\" style=\"height: 52px; width: 41.2104%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.05<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 14.8415%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.39<\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"height: 52px; text-align: right; width: 13.6888%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.14)<\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"height: 52px; text-align: right; width: 13.4006%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.95<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 100%; height: 580px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr style=\"height: 52px;\">\n<td class=\"prngen48\" style=\"height: 52px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><u>Notes:<\/u><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 52px;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr style=\"height: 76px;\">\n<td class=\"prngen48\" style=\"height: 76px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"height: 76px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents unrealized and realized foreign exchange losses (gains) that include non-cash adjustments in translating foreign denominated monetary assets and liabilities.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen48\" style=\"height: 52px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"height: 52px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents share-based compensation expense in respect of the Plan and the LTIP.\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 124px;\">\n<td class=\"prngen48\" style=\"height: 124px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"height: 124px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">These represent primarily legal, professional advisory fees and other transaction costs for capital structuring associated with Neo or investments of Neo.\u00a0 Neo has removed these charges to provide comparability with historic periods.\u00a0 For the three and six months ended June 30, 2023, Neo incurred a total acquisition-related costs of $1.2 million in the acquisition of SGTec.\u00a0 These costs have been included in selling, general and administrative costs in the condensed consolidated statements of profit or loss.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 76px;\">\n<td class=\"prngen48\" style=\"height: 76px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"height: 76px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents other expenses resulting from non-operational related activities, including provisions for damages for outstanding legal claims related to historic volumes.\u00a0 These costs and recoveries are not indicative of Neo&#8217;s ongoing activities.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 100px;\">\n<td class=\"prngen48\" style=\"height: 100px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"height: 100px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">In accordance with IFRS 3\u00a0<i>Business Combinations<\/i>, and on completion of the acquisition of SGTec, Neo recorded the acquisition of SGTec&#8217;s inventory at fair value, which included a mark-up for profit of $1.3 million.\u00a0 A portion of this inventory was sold in the three months ended June 30, 2023 and had a $0.6 million impact on Net (loss) income.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 100px;\">\n<td class=\"prngen48\" style=\"height: 100px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"height: 100px;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Neo reports non-IFRS measures such as &#8220;Adjusted Net Income&#8221;, &#8220;Adjusted Earnings per Share&#8221;, &#8220;Adjusted EBITDA&#8221;, &#8220;Adjusted EBITDA Margin&#8221;, &#8220;Free Cash Flow&#8221; and &#8220;Free Cash Flow Conversion&#8221;. Please see information on this and other non-IFRS measures in the &#8220;Non-IFRS Measures&#8221; section of this new release and in the MD&amp;A, available on Neo&#8217;s website\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2888776584&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"noopener\">www.neomaterials.com<\/a>\u00a0and on SEDAR at\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2077014298&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"noopener\">www.sedar.com<\/a>.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>About Neo Performance Materials<\/b><\/div>\n<p>Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability.\u00a0 Neo&#8217;s advanced industrial materials &#8211; magnetic powders and magnets, specialty chemicals, metals, and alloys &#8211; are critical to the performance of many everyday products and emerging technologies. Neo&#8217;s products help to deliver the technologies of tomorrow to consumers today.\u00a0 The business of Neo is organized along three segments: Magnequench, Chemicals &amp; 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 10 manufacturing facilities located in China, the United States, Germany, Canada, Estonia, Thailand and the United Kingdom, as well as one dedicated research and development centre in Singapore.\u00a0 For more information, please visit\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=2888776584&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"noopener\">www.neomaterials.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>Cautionary Statements Regarding Forward Looking Statements<\/b><\/div>\n<p>This news release contains &#8220;forward-looking information&#8221; within the meaning of applicable securities laws in Canada. Forward-looking information may relate to future events or future performance of Neo. All statements in this release, other than statements of historical facts, with respect to Neo&#8217;s objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: expectations regarding certain of Neo&#8217;s future results and information, including, among other things, revenue, expenses, sales growth, capital expenditures, and operations; statements with respect to current and future market trends that may directly or indirectly impact sales and revenue of Neo; expected use of cash balances; continuation of prudent management of working capital; source of funds for ongoing business requirements and capital investments; expectations regarding sufficiency of the allowance for uncollectible accounts and inventory provisions; analysis regarding sensitivity of the business to changes in exchange rates; impact of recently adopted accounting pronouncements; risk factors relating to intellectual property protection and intellectual property litigation; risk factors relating to national or international economies (including the impact of COVID-19), geopolitical risk and other risks present in the jurisdictions in which Neo, its customers, its suppliers, and\/or its logistics partners operate, and; expectations concerning any remediation efforts to Neo&#8217;s design of its internal controls over financial reporting and disclosure controls and procedures. Often, but not always, forward-looking information can be identified by the use of words such as &#8220;plans&#8221;, &#8220;expects&#8221;, &#8220;is expected&#8221;, &#8220;budget&#8221;, &#8220;scheduled&#8221;, &#8220;estimates&#8221;, &#8220;continues&#8221;, &#8220;forecasts&#8221;, &#8220;projects&#8221;, &#8220;predicts&#8221;, &#8220;intends&#8221;, &#8220;anticipates&#8221; or &#8220;believes&#8221;, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results &#8220;may&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;should&#8221;, &#8220;might&#8221; or &#8220;will&#8221; be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Neo believes the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this discussion and analysis should not be unduly relied upon. For more information on Neo, investors should review Neo&#8217;s continuous disclosure filings that are available under Neo&#8217;s profile at\u00a0<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3941682-1&amp;h=3881359654&amp;u=https%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" target=\"_blank\" rel=\"noopener\">www.sedar.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>For further information:<br \/>\n<\/strong><\/p>\n<p>Ali Mahdavi,<br \/>\nSVP, Corporate Development &amp; Capital Markets<br \/>\n(416) 962-3300<br \/>\nEmail: a.mahdavi@neomaterials.com<\/p>\n<p>&nbsp;<\/p>\n<p>Jim Sims, Director of Corporate Communications,<br \/>\n(303) 503-6203<br \/>\nEmail: j.sims@neomaterials.com<\/p>\n<p>&nbsp;<\/p>\n<p>Website: www.neomaterials.com<\/p>\n<p>Email: info@neomaterials.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Neo Performance Materials Inc. (TSX: NEO) released its second quarter 2023 financial results.<\/p>\n","protected":false},"author":3,"featured_media":18369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-18368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Neo Rare Earth Materials Reports Second Quarter 2023 Results<\/title>\n<meta name=\"description\" content=\"Neo reported record sales during the second quarter of 2023, driven by the strength of our Rare Metals business unit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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