MP Materials Investor Conference Presentation Deck

Realizing our downstream vision - Integration of heavy RE separation Terbium and Dysprosium Continued focus on completing LREE separations by year-end Targeted completion in late 2022 Expect run-rate NdPr production in 2023 Addition of Heavy Rare Earth Separation into Stage II Department of Defense award of $35M to support construction of facility Critical to complete the restoration of full rare earth supply chain to U.S. Heavies used in magnets for consumer and defense applications Designed to accept third-party feed to expand both LREE and HREE output - MP MATERIALS 12

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