diff --git a/llvm/lib/Target/AArch64/AArch64Subtarget.cpp b/llvm/lib/Target/AArch64/AArch64Subtarget.cpp
--- a/llvm/lib/Target/AArch64/AArch64Subtarget.cpp
+++ b/llvm/lib/Target/AArch64/AArch64Subtarget.cpp
@@ -188,6 +188,7 @@
     PrefFunctionLogAlignment = 4;
     PrefLoopLogAlignment = 5;
     MaxBytesForLoopAlignment = 16;
+    VectorInsertExtractBaseCost = 1;
     break;
   case NeoverseN2:
     PrefFunctionLogAlignment = 4;
diff --git a/llvm/test/Analysis/CostModel/AArch64/vector-extract.ll b/llvm/test/Analysis/CostModel/AArch64/vector-extract.ll
--- a/llvm/test/Analysis/CostModel/AArch64/vector-extract.ll
+++ b/llvm/test/Analysis/CostModel/AArch64/vector-extract.ll
@@ -10,7 +10,7 @@
 ;
 ; NEOVERSE-N1-LABEL: 'extract_double'
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: %extract_0 = extractelement <2 x double> %vec, i32 0
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_1 = extractelement <2 x double> %vec, i32 1
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_1 = extractelement <2 x double> %vec, i32 1
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: ret void
 ;
   %extract_0 = extractelement<2 x double> %vec, i32 0
@@ -28,9 +28,9 @@
 ;
 ; NEOVERSE-N1-LABEL: 'extract_float'
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: %extract_0 = extractelement <4 x float> %vec, i32 0
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_1 = extractelement <4 x float> %vec, i32 1
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_2 = extractelement <4 x float> %vec, i32 2
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_3 = extractelement <4 x float> %vec, i32 3
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_1 = extractelement <4 x float> %vec, i32 1
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_2 = extractelement <4 x float> %vec, i32 2
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_3 = extractelement <4 x float> %vec, i32 3
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: ret void
 ;
   %extract_0 = extractelement<4 x float> %vec, i32 0
@@ -48,7 +48,7 @@
 ;
 ; NEOVERSE-N1-LABEL: 'extract_i64'
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: %extract_0 = extractelement <2 x i64> %vec, i32 0
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_1 = extractelement <2 x i64> %vec, i32 1
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_1 = extractelement <2 x i64> %vec, i32 1
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: ret void
 ;
   %extract_0 = extractelement<2 x i64> %vec, i32 0
@@ -66,9 +66,9 @@
 ;
 ; NEOVERSE-N1-LABEL: 'extract_i32'
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: %extract_0 = extractelement <4 x i32> %vec, i32 0
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_1 = extractelement <4 x i32> %vec, i32 1
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_2 = extractelement <4 x i32> %vec, i32 2
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_3 = extractelement <4 x i32> %vec, i32 3
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_1 = extractelement <4 x i32> %vec, i32 1
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_2 = extractelement <4 x i32> %vec, i32 2
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_3 = extractelement <4 x i32> %vec, i32 3
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: ret void
 ;
   %extract_0 = extractelement<4 x i32> %vec, i32 0
@@ -92,13 +92,13 @@
 ;
 ; NEOVERSE-N1-LABEL: 'extract_i16'
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: %extract_0 = extractelement <8 x i16> %vec, i32 0
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_1 = extractelement <8 x i16> %vec, i32 1
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_2 = extractelement <8 x i16> %vec, i32 2
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_3 = extractelement <8 x i16> %vec, i32 3
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_4 = extractelement <8 x i16> %vec, i32 4
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_5 = extractelement <8 x i16> %vec, i32 5
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_6 = extractelement <8 x i16> %vec, i32 6
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_7 = extractelement <8 x i16> %vec, i32 7
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_1 = extractelement <8 x i16> %vec, i32 1
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_2 = extractelement <8 x i16> %vec, i32 2
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_3 = extractelement <8 x i16> %vec, i32 3
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_4 = extractelement <8 x i16> %vec, i32 4
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_5 = extractelement <8 x i16> %vec, i32 5
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_6 = extractelement <8 x i16> %vec, i32 6
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_7 = extractelement <8 x i16> %vec, i32 7
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: ret void
 ;
   %extract_0 = extractelement<8 x i16> %vec, i32 0
@@ -134,21 +134,21 @@
 ;
 ; NEOVERSE-N1-LABEL: 'extract_i8'
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: %extract_0 = extractelement <16 x i8> %vec, i32 0
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_1 = extractelement <16 x i8> %vec, i32 1
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_2 = extractelement <16 x i8> %vec, i32 2
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_3 = extractelement <16 x i8> %vec, i32 3
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_4 = extractelement <16 x i8> %vec, i32 4
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_5 = extractelement <16 x i8> %vec, i32 5
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_6 = extractelement <16 x i8> %vec, i32 6
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_7 = extractelement <16 x i8> %vec, i32 7
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_8 = extractelement <16 x i8> %vec, i32 8
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_9 = extractelement <16 x i8> %vec, i32 9
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_10 = extractelement <16 x i8> %vec, i32 10
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_11 = extractelement <16 x i8> %vec, i32 11
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_12 = extractelement <16 x i8> %vec, i32 12
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_13 = extractelement <16 x i8> %vec, i32 13
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_14 = extractelement <16 x i8> %vec, i32 14
-; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 3 for instruction: %extract_15 = extractelement <16 x i8> %vec, i32 15
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_1 = extractelement <16 x i8> %vec, i32 1
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_2 = extractelement <16 x i8> %vec, i32 2
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_3 = extractelement <16 x i8> %vec, i32 3
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_4 = extractelement <16 x i8> %vec, i32 4
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_5 = extractelement <16 x i8> %vec, i32 5
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_6 = extractelement <16 x i8> %vec, i32 6
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_7 = extractelement <16 x i8> %vec, i32 7
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_8 = extractelement <16 x i8> %vec, i32 8
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_9 = extractelement <16 x i8> %vec, i32 9
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_10 = extractelement <16 x i8> %vec, i32 10
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_11 = extractelement <16 x i8> %vec, i32 11
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_12 = extractelement <16 x i8> %vec, i32 12
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_13 = extractelement <16 x i8> %vec, i32 13
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_14 = extractelement <16 x i8> %vec, i32 14
+; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 1 for instruction: %extract_15 = extractelement <16 x i8> %vec, i32 15
 ; NEOVERSE-N1-NEXT:  Cost Model: Found an estimated cost of 0 for instruction: ret void
 ;
   %extract_0 = extractelement<16 x i8> %vec, i32 0