MP Materials Investor Conference Presentation Deck

Stage III Metal, NdFeB alloy & magnet production Broke ground in April ■ ■ ■ 200,000+ sq ft greenfield Designed magnet capacity of ~1,000 mtpa Oversized alloy capacity; room to scale Consume < 10% of expected NdPr run-rate production Signed long-term agreement with GM Will supply alloy & magnets for more than 12 Ultium Platform EVs - Production ramp starts in late '23 with alloy; magnets expected in '25 Non-exclusive agreement Desire to expand significantly MP MATERIALS MP MATERIALS September 2022 Design render

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