MP Materials Investor Conference Presentation Deck

Stage I - Complete Rare Earth Concentrate Production ● ● ● Mining, milling, and executing on optimized flotation process We believe we are currently producing approximately 15% of global rare earth content Annual production is ~3.3x that of predecessor Substantial improvements in throughput, recovery, and uptime driven by current Management Mining Processing Business Overview Refining Separation Metal Making Alloying Magnet Making MP MATERIALS 3.3x REO ~12,000 Molycorp Maximum ~39,700 MP Materials LTM thru 2Q 2021 Stage I Volumes (MT REO) 14

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