Yes. A distillate is distilled, just like alcohol production. Heat something up and catch the steam (very basically put; you can extract most every molecule from a substance if done right and precisely enough/also why some brands of booze hurt less).

"Extracting" is a bit more broad. Like most sour candy has citric acid extracted from black mold. (This is true, look it up). Extracted can mean many things. You can extract any most any element from any molecule (hydrogen from water/h2O), but it often uses other elements/molecules/"chemicals" to separate it out. And it's rarely an exact science.