MP Materials SPAC Presentation Deck

MP MATERIALS AT-A-GLANCE MOUNTAIN PASS IS A UNIQUE, WORLD CLASS ASSET Rich Rare Earths History -70 years Since Production Started in Mountain Pass Vast, High Grade Reserve 804k mt Recoverable tREO $1.7BB Total Capital Invested 8% ore grade World-Class Reserve Sizeable and Highly Profitable Rare-Earths Operation (Stage II) 6,075 mt $252MM Expected Run-rate NdPr Annual Production Potential Downstream Expansion (Stage III) NdPr Magnet Production Operationally Leveraged Earnings Power MPMATERIALS Estimated Run-rate Adj. EBITDA (2023E) Buy, Build or JV Potential for fully integrated business, with lower volatility Our Business Model Mina Beneficiation Plant Concentrate MP MATERIALS Metallurgy Magret Making Nur Magnets ASSET 10

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