MP Materials SPAC Presentation Deck

STAGE II FINANCIAL OVERVIEW STRONG TOP LINE GROWTH, ALREADY ADJ. EBITDA POSITIVE AND ANTICIPATING STRONG FCF CONVERSION AT RUN-RATE Revenue SMM Capex (¹) 200 100 75 2019 2019 Sof Sales: 1.9% 2020E MPMATERIALS 35 31 CAGR: 53.3% 2020E 34.606 2021E Maintenance Stogel copex Chlor-Akal copex $39 349 2021 E 2022E 10 2022E 30% 415 2023E 30 Adj. EBITDA (¹) SMM Have 1. Al igurece proforma for the combination of sad and Alamogor of gopro free cast fow ric ened ca net com van apaian net purchces of property, pont and expment Pease couvent so Seghe Coke Agreement paddock om 150 2019 Margin: 8.0% Free Cash Flow ("FCF") $MM 200 D (200) 2023E 2019 10.2% Cash Balance (MM): 30 2020€ 28.3% (36) 2020E 512 CAGR: 133.6% 2021E 47.7% (96) 2021E 367 172 2022E 102 102 2022E 252 2023E 60.8% 1:38 2023E 365 FC (ex-growth copex) me and profoam audie for PTO conation har to side for etted Reconcion to componding GAA o te cealed FCF conciliation to conponding GAA meaume STRATEGY

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