{"id":18768,"date":"2024-03-15T07:00:10","date_gmt":"2024-03-15T11:00:10","guid":{"rendered":"http:\/\/www.neomaterials.com\/?p=18768"},"modified":"2024-03-14T23:22:31","modified_gmt":"2024-03-15T03:22:31","slug":"neo-performance-materials-reports-year-end-2023-results","status":"publish","type":"post","link":"https:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/","title":{"rendered":"Neo Performance Materials Reports Year-End 2023 Results"},"content":{"rendered":"<p class=\"prntac\" style=\"text-align: center;\"><b>Highlights of Full Year 2023<br \/>\n<\/b><i>(unless otherwise noted, all financial amounts in this news release are expressed in United States dollars)<\/i><\/p>\n<p><b><i>For the year ended December 31, 2023:<\/i><\/b><\/p>\n<ul type=\"disc\">\n<li>Neo&#8217;s revenue was $571.5 million, a decrease of 10.7% YoY.<\/li>\n<li>Operating income was $11.2 million.<\/li>\n<li>Adjusted Net Loss<sup>(1)\u00a0<\/sup>was $1.0 million, or $0.02 per share.<\/li>\n<li>Adjusted EBITDA<sup>(1)\u00a0<\/sup>was $37.2 million, lower by 52.9% YoY.<\/li>\n<li>Cash balance of $86.9 million, after funding acquisition and investments of $16.4 million, spending of $41.7 million in capital projects, distributing $13.4 million in dividends to Neo&#8217;s shareholders, and repurchasing $19.9 million of shares under the normal course issuer bid.<\/li>\n<li>A quarterly dividend of Cdn$0.10 per common share was declared on March 13, 2024 for shareholders of record on March 18, 2024, with a payment date of March 27, 2024.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span class=\"legendSpanClass\">TORONTO<\/span>,\u00a0<span class=\"legendSpanClass\">March 15, 2024<\/span>\u00a0\/CNW\/ &#8211;\u00a0Neo Performance Materials Inc. (&#8220;<b>Neo<\/b>&#8220;) (TSX: NEO) released its 2023 year-end 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=4116253-1&amp;h=418304408&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=4116253-1&amp;h=3763154409&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2Flandingpage%2F&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"noopener\">www.sedar<u>plus<\/u>.<u>ca<\/u><\/a>.<\/p>\n<p>&#8220;Neo continues to lay the groundwork for our long-term ambitions in the critical material and electric vehicle space,&#8221; said Rahim Suleman, President and CEO of Neo.\u00a0 &#8220;Our rare earth magnet plant construction in Estonia remains on track, and we have recently started the commissioning process for our relocated environmental catalyst plant. Our teams have implemented new cost-savings measures and are continuing to optimize our production infrastructure to meet our customers where they are located.&#8221;<\/p>\n<p>&#8220;Our results for the year 2023 were negatively impacted by declining rare earth prices and lower volumes in China due to the slowing economic activity.\u00a0 In Q4, our results were particularly negatively impacted by our Rare Metals segment due to specific factors affecting 2023.\u00a0 The full year results for Rare Metals were at a record setting level and we expect that 2024 will also be a strong year.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>HIGHLIGHTS OF YEAR-END 2023 CONSOLIDATED PERFORMANCE<br \/>\n<\/b><\/div>\n<div role=\"heading\" aria-level=\"3\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\">Neo&#8217;s consolidated revenue for the year ended December 31, 2023 was $571.5 million compared to $640.3 million for the same period in the prior year.\u00a0 Neo reported a net loss of $8.4 million, or $0.19 per share, compared to net income of $26.4 million, or $0.62 per share, for the same period in the prior year.\u00a0 Adjusted Net Loss<sup>(1)<\/sup>\u00a0totaled $1.0\u00a0million, or $0.02 per share, compared to Adjusted Net Income<sup>(1)\u00a0<\/sup>of $31.8\u00a0million or $0.75 per share, for the same period in the prior year.\u00a0 Adjusted EBITDA<sup>(1)<\/sup>\u00a0was $37.2\u00a0million, compared to Adjusted EBITDA<sup>(1)<\/sup>\u00a0of $79.0 million for the same period in the prior year.<\/div>\n<p>As of December 31, 2023, Neo had cash and cash equivalents of $86.9 million plus restricted cash of $3.3 million, compared to $147.5 million plus $1.2 million as at December 31, 2022.<\/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 role=\"heading\" aria-level=\"3\"><\/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=\"prnpr2 prnpl2 prnvab prntal prncbts prnrbrb1 prnbbbs prnbsbls\" 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 prntac prnsbtb1 prnrbrb1 prnbbbs prnbsbls\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen4\" style=\"text-align: center;\" 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<td class=\"prngen5\" style=\"text-align: center;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter<br \/>\nComparison<\/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>FY 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>FY 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>Q4 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>Q4 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;\">571,545<\/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;\">640,298<\/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;\">128,668<\/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;\">159,168<\/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 (loss)<\/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;\">11,167<\/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;\">58,614<\/span><\/p>\n<\/td>\n<td class=\"prnpr6 prnpl2 prnvab prntar prnsbtb1 prnrbrb1 prnbbbs prnbsbls\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(5,470)<\/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;\">6,727<\/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;\">26,812<\/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;\">76,189<\/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;\">2,319<\/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;\">10,121<\/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;\">37,219<\/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;\">79,027<\/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;\">3,097<\/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;\">12,420<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6.5\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;\">12.3\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;\">2.4\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7.8\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=\"prngen18\" 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=\"prngen18\" 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<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 role=\"heading\" aria-level=\"3\"><\/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=\"prngen19\" 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=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen20\" style=\"text-align: center;\" 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<td class=\"prngen20\" style=\"text-align: center;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter<br \/>\nComparison<\/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>FY 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>FY 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>Q4 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>Q4 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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,694<\/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;\">4,808<\/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;\">1,281<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,188<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen17\" 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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">213,735<\/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;\">277,412<\/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;\">54,827<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">57,584<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,618<\/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;\">30,538<\/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;\">2,675<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,543<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">18,548<\/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;\">42,178<\/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;\">9,432<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,364<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">21,149<\/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;\">40,172<\/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;\">5,950<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,788<\/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=\"prngen18\" 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=\"prngen18\" 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>Magnequench revenue in the quarter and year ended December 31, 2023 declined by 4.8% and 23.0%, respectively as compared to the comparable prior year periods, primarily due to declining volumes in the legacy magnetic powder business which was negatively impacted by economic slowdown and demand softness across the industry.\u00a0 In spite of market headwinds, Magnequench delivered growth in its high-margin magnet business through increasing business with new customers, in-sourcing magnet production, as well as the acquisition of a 90% equity interest in UK magnet producer SG Technologies Group Limited (&#8220;<b>SGTec<\/b>&#8220;) in April 2023. The business continues to make progress on phase 1 construction of its new Rare Earth Magnet Plant in Europe which remains on budget and on schedule.<\/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 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\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\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<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen21\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prnpr2 prnpl2 prnvab prntar prncbts prnbrbrs prnbbbs prnsblb1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen20\" style=\"text-align: center;\" 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<td class=\"prngen20\" style=\"text-align: center;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter<br \/>\nComparison<\/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>FY 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>FY 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>Q4 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>Q4 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=\"prngen23\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">235,929<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">248,011<\/span><\/p>\n<\/td>\n<td class=\"prngen23\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">55,552<\/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;\">58,767<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,088<\/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;\">22,176<\/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;\">2,622<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">852<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,714<\/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;\">27,952<\/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;\">2,661<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,462<\/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=\"prngen16\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,306<\/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;\">28,324<\/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;\">3,218<\/span><\/p>\n<\/td>\n<td class=\"prngen17\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,614<\/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=\"prngen18\" 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=\"prngen18\" 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 quarter and year ended December 31, 2023, C&amp;O revenue declined by 5.5% and 4.9%, respectively, as compared to comparable prior year periods, primarily due to mixed end market dynamics and rare earth pricing headwinds.\u00a0 High purity dysprosium used in multi-layer ceramic capacitors continued to deliver stable volumes and margins. The environmental protective water treatment solutions business delivered increased volumes and expanding margins throughout 2023.\u00a0 However, rapid declines in rare earth prices continued to drive headwinds for the business negatively impacting C&amp;O rare earth separation margins. C&amp;O is nearing completion on the relocation of its Neo Jia Hua Advanced Materials (Zibo) Co., Ltd. facility in China, which will have additional capacity for environmental emissions catalysts including capacity for new products under development.<\/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=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen19\" 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=\"prnpr4 prnpl2 prnvab prntac prnsbtb1 prnrbrb1 prnbbbs prnbsbls\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen20\" style=\"text-align: center;\" 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<td class=\"prngen20\" style=\"text-align: center;\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><i>Quarter-over-Quarter<br \/>\nComparison<\/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>FY 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>FY 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>Q4 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>Q4 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=\"prngen26\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">124,601<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">130,386<\/span><\/p>\n<\/td>\n<td class=\"prngen26\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19,724<\/span><\/p>\n<\/td>\n<td class=\"prnpr4 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;\">43,865<\/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 (loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">19,670<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">20,978<\/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;\">(5,597)<\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,792<\/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=\"prngen28\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">20,367<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">22,119<\/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;\">(6,298)<\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">5,662<\/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=\"prngen28\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">24,207<\/span><\/p>\n<\/td>\n<td class=\"prngen28\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">24,307<\/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;\">(2,200)<\/span><\/p>\n<\/td>\n<td class=\"prngen29\" style=\"text-align: right;\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">8,995<\/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=\"prngen18\" 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=\"prngen18\" 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 revenue declined by 55.0% and 4.4%, respectively, in the quarter and year ended December 31, 2023, as compared to the same periods of the prior year.\u00a0 The segment delivered solid full-year earnings driven by strength in hafnium pricing and demand, which has been driven by demand for memory chips and superalloys. The segment has a healthy hafnium order book for 2024 with contracted volumes at strong pricing and sufficient inventory on hand.\u00a0 Rare Metals reached a significant milestone in its manufacturing strategy with its plant in Sillam\u04d3e, Estonia, shifting focus on downstream, value-add operations, by halting the energy-intensive hydrometallurgical processing of niobium and tantalum bearing ores. Going forward, future products will be derived from oxides and recycled materials which will increase sourcing optionality and reduce working capital, simplify the manufacturing process, and improve the environmental footprint of the plant.\u00a0 In executing this operational transformation, the Rare Metals business incurred one-time charges in the fourth quarter of 2023 related to impairment of assets and employee restructuring costs.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"wcag-arialevel-3\" role=\"heading\" aria-level=\"3\"><b>CONFERENCE CALL ON FRIDAY MARCH 15, 2024 AT 10 AM EASTERN<\/b><\/div>\n<p>Management will host a teleconference call on Friday, March 15, 2024 at 10:00 a.m. (Eastern Time) to discuss the fourth quarter 2023 results.\u00a0 Interested parties may access the teleconference by calling (416) 764-8650 (local) or (888) 664-6383 (toll free long distance) or by visiting https:\/\/app.webinar.net\/Gv4A7qgJzyE.\u00a0 A recording of the teleconference may be accessed by calling (416) 764-8677 (local) or (888) 390-0541 (toll free long distance), and entering pass code 612419# until April 15, 2024.<\/p>\n<p>&nbsp;<\/p>\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 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 twelve months ended December 31, 2023, available on Neo&#8217;s web site at www.neomaterials.com and on SEDAR+ at www.sedarplus.ca.<\/p>\n<p>&nbsp;<\/p>\n<p><b>TABLE 5: CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/b><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 56.1039%;\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>December 31,<br \/>\n2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>December 31,<br \/>\n2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>ASSETS<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\"><\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Current<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\"><\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$86,895<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$147,491<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Restricted cash<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,357<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Accounts receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">67,643<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Inventories<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">197,453<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income taxes receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">744<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">355<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">22,542<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total current assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>378,634<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Property, plant and equipment<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">118,918<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Intangible assets<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">38,511<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Goodwill<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">65,160<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Investments<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">17,955<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Deferred tax assets<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,760<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other non-current assets<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,066<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total non-current assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>248,370<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total assets<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 627,004<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 676,460<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\"><\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\"><\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>LIABILITIES AND EQUITY<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\"><\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Current<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\"><\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Bank advances and other short-term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Accounts payable and other accrued charges<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">71,984<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income taxes payable<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,207<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Provisions<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">823<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Lease obligations<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,664<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Derivative liability<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">36,294<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Current portion of long-term debt<\/span>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,230<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">747<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">692<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">278<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total current liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>122,894<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Long term debt<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">23,101<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Employee benefits<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">108<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">489<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Derivative liability<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,082<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Provisions<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">26,197<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Deferred tax liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">14,294<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Lease obligations<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,425<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">813<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other non-current liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,592<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\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=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>68,799<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total liabilities<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>191,693<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Non-controlling interest<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,164<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Equity attributable to equity holders of Neo Performance Materials Inc<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">432,147<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Total equity<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>435,311<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen30\" style=\"width: 65.6347%;\">\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=\"prngen33\" style=\"text-align: right; width: 13.1579%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 627,004<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 16.4087%;\">\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=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>See accompanying notes to this table in Neo&#8217;s Consolidated Financial Statements for the\u00a0<\/i><i>year ended December 31, 2023<\/i><i>, 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=4116253-1&amp;h=914126975&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\u00a0<a class=\"prnews_a\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4116253-1&amp;h=3763154409&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2Flandingpage%2F&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"noopener\">www.sedar<u>plus<\/u>.<u>ca<\/u><\/a>.<\/i><\/span><\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>TABLE 6: CONSOLIDATED RESULTS OF OPERATIONS<\/b><\/p>\n<p>&nbsp;<\/p>\n<p><i>Comparison of the year and three months ended December 31, 2023 to the year and three months ended December 31, 2022:<\/i><\/p>\n<p>&nbsp;<\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 84.0122%; height: 1584px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr style=\"height: 76px;\">\n<td class=\"prngen30\" style=\"height: 76px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; height: 76px; width: 17.8535%;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Year Ended<br \/>\nDecember 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; height: 76px; width: 15.7895%;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Three Months Ended<br \/>\nDecember 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen34\" style=\"height: 52px; width: 64.9123%;\"><\/td>\n<td class=\"prngen35\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen35\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Revenue<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0 571,545<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0 640,298<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0 128,668<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0 159,168<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Cost of sales<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Cost excluding depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">462,815<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">481,524<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">107,350<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">125,275<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,626<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,406<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,416<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,361<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Gross profit<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>99,104<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>149,368<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>18,902<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>31,532<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Expenses<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Selling, general and administrative<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">59,155<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">58,915<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">14,485<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">16,619<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Share-based compensation<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,738<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,483<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,946<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">610<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\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; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,187<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,313<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,813<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,784<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Research and development<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">16,144<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">20,810<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,415<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4,854<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,713<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,233<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,713<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">938<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen34\" style=\"height: 52px; width: 64.9123%;\"><\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">87,937<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">90,754<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">24,372<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">24,805<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Operating income (loss)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>11,167<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>58,614<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(5,470)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>6,727<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other income (expense)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,138<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,228)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,776<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(492)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Finance (cost) income, net<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(6,707)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(15,259)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">742<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(11,116)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Foreign exchange (loss) gain<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1,428)<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">301<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">4<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">476<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Income (loss) from operations before income taxes and equity income of associates<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>6,170<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>41,428<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(1,948)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(4,405)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income tax (expense) benefit<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(11,683)<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(17,793)<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">39<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,022)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(Loss) income from operations before equity (loss) income of associates<\/b>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(5,513)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>23,635<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(1,909)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(6,427)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\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=\"prngen33\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,878)<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,783<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">780<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(735)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net (loss) income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8,391)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,418<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (1,129)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (7,162)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Attributable to:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Equity holders of Neo Performance Materials Inc<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8,442)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 25,947<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0 (1,367)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0 (7,291)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Non-controlling interest<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">51<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">471<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">238<\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">129<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen34\" style=\"height: 52px; width: 64.9123%;\"><\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8,391)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,418<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (1,129)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (7,162)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(Loss) earnings per share attributable to equity holders of Neo Performance Materials Inc.:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 9.08153%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.84314%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 7.94634%;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Basic<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.19)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.62<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.03)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.16)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen30\" style=\"height: 52px; width: 64.9123%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 9.08153%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.19)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; height: 52px; width: 8.77193%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.61<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.84314%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.03)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; height: 52px; width: 7.94634%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.16)<\/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=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>See Management&#8217;s Discussion and Analysis for the\u00a0<\/i><i>year ended December 31, 2023<\/i><i>, 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=4116253-1&amp;h=914126975&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=4116253-1&amp;h=3763154409&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2Flandingpage%2F&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"noopener\">www.sedar<u>plus<\/u>.<u>ca<\/u><\/a>.<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><b>TABLE 7: RECONCILIATIONS OF NET (LOSS) INCOME TO EBITDA, ADJUSTED EBITDA AND FREE CASH FLOW<\/b><\/p>\n<p>&nbsp;<\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 64.4826%;\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen40\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; width: 24.899%;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Year Ended<br \/>\nDecember 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; width: 23.957%;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Three Months Ended<br \/>\nDecember 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen41\" style=\"width: 48.9906%;\"><\/td>\n<td class=\"prngen42\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen42\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen44\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net (loss) income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8,391)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,418<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,129)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (7,162)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Add back (deduct):<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Finance cost (income), net<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">6,707<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">15,259<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(742)<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">11,116<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Income tax expense (benefit)<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">11,683<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">17,793<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(39)<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,022<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Depreciation and amortization included in cost of sales<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,626<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">9,406<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,416<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,361<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Depreciation and amortization included in operating expenses<\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,187<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">7,313<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,813<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,784<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>EBITDA<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>26,812<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>76,189<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2,319<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>10,121<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjustments to EBITDA:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Other (income) expense\u00a0<sup>\u00a0(1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3,138)<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,228<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,776)<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">492<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\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=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,428<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(301)<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(476)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Equity loss (income) of associates<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,878<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,783)<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(780)<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">735<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\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=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,738<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,483<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,946<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">610<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\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=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,217<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">222<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Transaction and project startup costs (recoveries)\u00a0<sup>(5)<\/sup><\/span><span class=\"prnews_span\">\u00a0<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,571<\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(22)<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">457<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Impairment of assets\u00a0<sup>(6)<\/sup>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,713<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,233<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,713<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">938<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\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=\"prngen48\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,219<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 79,027<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,097<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,420<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>Adjusted EBITDA Margins\u00a0<sup>(7)<\/sup><\/i>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>6.5\u00a0%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>12.3\u00a0%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>2.4\u00a0%<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>7.8\u00a0%<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Less:<\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.6514%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\"><\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Capital expenditures\u00a0<sup>(8)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 43,961<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,470<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24,332<\/span><\/p>\n<\/td>\n<td class=\"prngen48\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,372<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Free Cash Flow\u00a0<sup>(7)<\/sup><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (6,742)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 61,557<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen46\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>(21,235)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen47\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>6,048<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 48.9906%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>Free Cash Flow Conversion<sup>\u00a0(7)<\/sup><\/i>\u00a0<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.6514%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(18.1\u00a0%)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.2476%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">77.9\u00a0%<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(685.7\u00a0%)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 11.9785%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">48.7\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\" style=\"width: 100%; height: 1036px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr style=\"height: 92px;\">\n<td class=\"prngen49\" style=\"height: 92px;\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><u>Notes:<\/u><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen50\" style=\"height: 92px;\"><\/td>\n<\/tr>\n<tr style=\"height: 172px;\">\n<td class=\"prngen49\" style=\"height: 172px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 172px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents other (income) expenses resulting from non-operational related activities, including provisions for damages for outstanding legal claims related to historic volumes.\u00a0 These expenses and recoveries are not indicative of Neo&#8217;s ongoing activities. \u00a0For the year ended and three months ended December 31, 2023, included in other income was a bargain purchase gain resulting from the acquisition of SGTec when the consideration paid was less than the fair value of the identifiable net assets, and a net gain of $0.7 million from the sale of Neo&#8217;s property, plant and equipment at its subsidiary in south Korea.\u00a0 This was partly offset by the restructuring cost at NPM Silmet O\u00dc (&#8220;<b>Silmet<\/b>&#8220;) from the shuttering of its energy-intensive hydrometallurgical processing of niobium and tantalum bearing ores, the restructuring cost at Neo&#8217;s facility in south Korea, charges for estimated damage claims related to legal proceedings and estimated costs for the disposal of existing NORM.\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents unrealized and realized foreign exchange losses 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=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents share-based compensation expense in respect of the Omnibus LTIP and the LTIP.\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 100px;\">\n<td class=\"prngen49\" style=\"height: 100px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 100px;\">\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 SGTec&#8217;s acquired inventory at fair value, which included a mark-up for profit of $1.2 million.\u00a0 A portion of this inventory was sold during the year, and had a $1.2 million and $0.2 million, respectively, impact on Net income (loss) in the year ended and three months ended December 31, 2023.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 148px;\">\n<td class=\"prngen49\" style=\"height: 148px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 148px;\">\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. Neo has removed these charges to provide comparability with historic periods.\u00a0 For the year ended and three months ended December 31, 2023, Neo incurred $1.4 million and\u00a0 $0.5 million, respectively, of project costs related to the establishment of the rare earth magnet manufacturing capability in Europe. Additionally, Neo also incurred total acquisition-related costs of $1.2 million and $nil, respectively, in the acquisition of SGTec for the year ended and three months ended December 31, 2023.\u00a0 These costs have been included in selling, general and administrative expense in the condensed consolidated statements of profit or loss.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 124px;\">\n<td class=\"prngen49\" style=\"height: 124px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 124px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">For the year ended and three months ended December 31, 2023, the amount represents impairment in property, plant and equipment of $1.7 million and inventory of $1.1 million in order to streamline the operational and business processes at the Silmet facility.\u00a0 This was partly offset by the recovery of asset in the C&amp;O segment due to the reversal of previously impaired asset on June 30, 2020, which will be transferred to NAMCO&#8217;s new facility for utilization.\u00a0 For the year ended and three months ended December 31, 2022, the amount represents impairment in property, plant and equipment, long-term asset and prepayment.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 100px;\">\n<td class=\"prngen49\" style=\"height: 100px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 100px;\">\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=4116253-1&amp;h=914126975&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=4116253-1&amp;h=3763154409&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2Flandingpage%2F&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"noopener\">www.sedar<u>plus<\/u>.<u>ca<\/u><\/a>.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 76px;\">\n<td class=\"prngen49\" style=\"height: 76px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(8)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 76px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Includes capital expenditures of $41.7 million and right-of-use assets of $2.2 million for the year ended December 31, 2023 and capital expenditures of $24.3 million for the three months ended December 31, 2023.\u00a0 The aforementioned amounts exclude the additions of Property, Plant and Equipment of $13.3 million from the acquisition of SGTec.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p><b><br \/>\nTABLE 8: RECONCILIATIONS OF NET (LOSS) INCOME TO ADJUSTED NET (LOSS) INCOME\u00a0<\/b><\/p>\n<p>&nbsp;<\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prnbcc\" style=\"width: 58.7869%;\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen40\" style=\"width: 46.1652%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><i>($000s)<\/i><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; width: 27.4336%;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Year Ended<br \/>\nDecember 31,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen31\" style=\"text-align: center; width: 23.8938%;\" colspan=\"2\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Three Months Ended<br \/>\nDecember 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen51\" style=\"width: 46.1652%;\"><\/td>\n<td class=\"prngen35\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen35\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen37\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>2022<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Net (loss) income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8,391)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,418<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (1,129)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (7,162)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjustments to net (loss) income:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Foreign exchange loss (gain)\u00a0<sup>(1)<\/sup><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,428<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(301)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(476)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Impairment of assets\u00a0<sup>(2)<\/sup><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,713<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,233<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,713<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">938<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Share-based compensation\u00a0<sup>(3)<\/sup><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">3,738<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,483<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,946<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">610<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Transaction and project startup costs (recoveries)\u00a0<sup>(4)<\/sup><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,571<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(22)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">457<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Other items included in other (income) expense\u00a0<sup>(5)<\/sup><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,529)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">2,560<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2,251)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">546<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Fair value adjustments to inventory acquired\u00a0<sup>(6)<\/sup><\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">1,217<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\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: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">222<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">\u2014<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Tax impact of the above item<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(722)<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(615)<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(53)<\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(142)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjusted net (loss) income<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (975)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 31,756<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen39\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 901<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen33\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>$\u00a0\u00a0\u00a0\u00a0 (5,686)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen34\" style=\"width: 46.1652%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Attributable to:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Equity holders of Neo<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,026)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 31,285<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 663<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0 (5,815)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Non-controlling interest<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 51<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 471<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 238<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 129<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen34\" style=\"width: 46.1652%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\"><\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen40\" style=\"width: 97.4926%;\" 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>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Basic<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">44,325,106<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">41,992,938<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">42,417,505<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">45,196,921<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Diluted<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">44,325,106<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">42,327,548<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">42,417,505<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">45,196,921<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen40\" style=\"width: 73.5988%;\" colspan=\"3\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b>Adjusted (loss) earnings per share\u00a0<sup>(7)<\/sup>\u00a0attributable to equity holders of Neo:<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"width: 11.6519%;\"><\/td>\n<td class=\"prngen38\" style=\"width: 12.2419%;\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Basic<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.02)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.75<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.02<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.13)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen30\" style=\"width: 46.1652%;\">\n<p class=\"prnml10\"><span style=\"font-size: 10pt;\"><span class=\"prnews_span\">Diluted<\/span><\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 14.0118%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.02)<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 13.4218%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.74<\/span><\/p>\n<\/td>\n<td class=\"prngen38\" style=\"text-align: right; width: 11.6519%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 0.02<\/span><\/p>\n<\/td>\n<td class=\"prngen32\" style=\"text-align: right; width: 12.2419%;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (0.13)<\/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\" style=\"width: 100%; height: 912px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr style=\"height: 92px;\">\n<td class=\"prngen49\" style=\"height: 92px;\">&nbsp;<\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\"><b><u>Notes:<\/u><\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen50\" style=\"height: 92px;\"><\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(1)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents unrealized and realized foreign exchange losses that include non-cash adjustments in translating foreign denominated monetary assets and liabilities.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 124px;\">\n<td class=\"prngen49\" style=\"height: 124px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(2)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 124px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">For the year ended and three months ended December 31, 2023, the amount represents impairment in property, plant and equipment of $1.7 million and inventory of $1.1 million in order to streamline the operational and business processes at the Silmet facility.\u00a0 This was partly offset by the recovery of asset in the C&amp;O segment due to the reversal of previously impaired asset on June 30, 2020, which will be transferred to NAMCO&#8217;s new facility for utilization.\u00a0 For the year ended and three months ended December 31, 2022, the amount represents impairment in property, plant and equipment, long-term asset and prepayment.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 52px;\">\n<td class=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(3)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 52px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents share-based compensation expense in respect of the Omnibus LTIP and the LTIP.\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 148px;\">\n<td class=\"prngen49\" style=\"height: 148px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(4)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 148px;\">\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 year ended and three months ended December 31, 2023, Neo incurred $1.4 million and\u00a0 $0.5 million, respectively, of project costs related to the establishment of the rare earth magnet manufacturing capability in Europe. Additionally, Neo also incurred total acquisition-related costs of $1.2 million and\u00a0 $nil, respectively, in the acquisition of SGTec for the year ended and three months ended December 31, 2023.\u00a0 These costs have been included in selling, general and administrative expense in the condensed consolidated statements of profit or loss.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 148px;\">\n<td class=\"prngen49\" style=\"height: 148px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(5)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 148px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">Represents other (income) 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.\u00a0 For the year ended and three months ended December 31, 2023, included in other income was a bargain purchase gain resulting from the acquisition of SGTec when the consideration paid was less than the fair value of the identifiable net assets, and a net gain of $0.7 million from the sale of Neo&#8217;s property, plant and equipment at its subsidiary in south Korea.\u00a0 This was partly offset by the restructuring cost at the Silmet facility from the shuttering of its energy-intensive hydrometallurgical processing of niobium and tantalum bearing ores and the restructuring cost at Neo&#8217;s facility in south Korea .<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 100px;\">\n<td class=\"prngen49\" style=\"height: 100px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(6)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 100px;\">\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 SGTec&#8217;s acquired inventory at fair value, which included a mark-up for profit of $1.2 million.\u00a0 All of this inventory was sold during the year, and had a $1.2 million and $0.2 million, respectively, impact on Net income (loss) in the year ended and three months ended December 31, 2023.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height: 100px;\">\n<td class=\"prngen49\" style=\"height: 100px;\">\n<p class=\"prnml4\"><span class=\"prnews_span\" style=\"font-size: 10pt;\">(7)<\/span><\/p>\n<\/td>\n<td class=\"prngen49\" style=\"height: 100px;\">\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=4116253-1&amp;h=914126975&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=4116253-1&amp;h=3763154409&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2Flandingpage%2F&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"noopener\">www.sedar<u>plus<\/u>.<u>ca<\/u><\/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=4116253-1&amp;h=914126975&amp;u=http%3A%2F%2Fwww.neomaterials.com%2F&amp;a=www.neomaterials.com\" target=\"_blank\" rel=\"noopener\">www.neomaterials.com<\/a>.<\/p>\n<div role=\"heading\" aria-level=\"3\"><\/div>\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 the 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, 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=4116253-1&amp;h=3763154409&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2Flandingpage%2F&amp;a=www.sedarplus.ca\" target=\"_blank\" rel=\"noopener\">www.sedarplus.ca<\/a>.<\/p>\n<p>For further information: Ali Mahdavi, SVP, Corporate Development &amp; Capital Markets, (416) 962-3300, Email: a.mahdavi@neomaterials.com; Jim Sims, Director of Corporate Communications, (303) 503-6203, Email: j.sims@neomaterials.com; Website:\u00a0www.neomaterials.com, Email: a.mahdavi@neomaterials.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Neo Performance Materials Inc. (TSX: NEO) released its 2023 year-end financial results. The financial statements and management&#8217;s discussion and analysis of these results can be viewed on Neo&#8217;s web site at\u00a0www.neomaterials.com\/investors\/\u00a0and on SEDAR+ at\u00a0www.sedarplus.ca.<\/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-18768","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 Performance Materials Reports Year-End 2023 Results - Neo Performance Materials<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neo Performance Materials Reports Year-End 2023 Results - Neo Performance Materials\" \/>\n<meta property=\"og:description\" content=\"Neo Performance Materials Inc. (TSX: NEO) released its 2023 year-end financial results. The financial statements and management&#039;s discussion and analysis of these results can be viewed on Neo&#039;s web site at\u00a0www.neomaterials.com\/investors\/\u00a0and on SEDAR+ at\u00a0www.sedarplus.ca.\" \/>\n<meta property=\"og:url\" content=\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Neo Performance Materials\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-15T11:00:10+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.neomaterials.com\/wp-content\/uploads\/2023\/08\/Stock_Market.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"CeriumRocks\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CeriumRocks\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"19 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/\"},\"author\":{\"name\":\"CeriumRocks\",\"@id\":\"http:\/\/www.neomaterials.com\/#\/schema\/person\/b30ea487cb3cb621b92a82d3de5704e0\"},\"headline\":\"Neo Performance Materials Reports Year-End 2023 Results\",\"datePublished\":\"2024-03-15T11:00:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/\"},\"wordCount\":3636,\"publisher\":{\"@id\":\"http:\/\/www.neomaterials.com\/#organization\"},\"image\":{\"@id\":\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.neomaterials.com\/wp-content\/uploads\/2023\/08\/Stock_Market.jpg\",\"articleSection\":[\"News Releases\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/\",\"url\":\"http:\/\/www.neomaterials.com\/neo-performance-materials-reports-year-end-2023-results\/\",\"name\":\"Neo Performance Materials Reports Year-End 2023 Results - 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