[SMM: Neo and Bosch Extend Strategic Partnership for High-Performance Magnets] Neo Performance Materials Inc. recently announced that it has signed a multi-year memorandum of understanding with Robert Bosch GmbH, a leading global supplier of technology and services. Based on this deepened and expanded supplier partnership and aligned with Neo's plans to initiate new capacity, Neo will reserve significant annual magnet production capacity for its customer Bosch. The partners will jointly define targets for transitioning this reserved capacity into specific projects.

By entering into this agreement with Neo, Bosch is taking proactive steps to secure stability in its supply chain network, while also promoting supply chain development through competition and innovation, and achieving localization of production. For Neo, the commitment from this global technology giant further accelerates the planning and optimization design process for its next-phase magnet manufacturing plant in Estonia, and further solidifies Neo's position as a strategic supplier of magnets for automotive applications and broader fields.