MP Materials Investor Conference Presentation Deck

MP Materials at-a-glance Mine Beneficiation Plants Concentrate Stage I 100000 000 Business Overview Refining Plant MP MATERIALS Oxides Stage II Metallurgy Magnet Making NdPr Magnets Stage III Rich Rare Earths History 60+ years Since Production Started at Mountain Pass Vast, High-Grade Reserve 948k mt tREO Recoverable Resources and Reserves $1.7B Capital Invested Since 2011 Stage I: Largest Ex-China Producer of REOS -39,700 mt LTM 6/30/21 Production (tREO in Concentrate) -7% ore grade World-Class Reserve Stage II: Optimizing Refining Capability for Separated REOS -6,075 mt NdPr Expected Run-rate Annual Production NdPr Magnet Production MP MATERIALS -15% Est. Market Share of global REO consumed over last twelve months Stage III: Potential Downstream Expansion Buy, Build and/or JV Potential for fully integrated business with lower volatility 13

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