NioCorp SPAC Presentation Deck

1 ● . Elk Creek Positioned to Become America's Second Major Rare Earth Project¹ Mountain Pass: Largest indicated rare earth MP Materials' Mountain Pass Rare Earth Mine & Processing Facility, California resource in the U.S. MP Materials project capitalized in part via combination with Fortress Value Acquisition Corp. Only scaled site of its kind in the Western Hemisphere; largest ex-China production source Fully permitted for extraction, separation & waste management. Self-contained with co-located mining, milling, separations & finishing. Rare earth production focus: NdPr Oxide Current Enterprise Value: $4.54 billion as of 9-23-2022 NioCorp Critical Mineral Security 2 Elk Creek: Second largest indicated rare earth resource in the U.S.² NioCorp's Elk Creek Critical Minerals Project, Nebraska • NioCorp's Elk Creek Project expects to be capitalized in part via combination with GXII. Additional funding will be required to become operational. Second largest indicated rare earth resource in the U.S² Fully permitted for construction. Potential rare earth focus: Magnetic Rare Earth Oxides (NdPr) and Heavy RE Oxides (Dysprosium, Terbium).³ Intended production of other high-value critical minerals: Niobium, Scandium, Titanium. Transaction Enterprise Value: $313.5 million 1 Subject to receipt of necessary project financing and commencement of operations at the Elk Creek Project. 2 Indicated mineral resource, based on data from the "Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply," U.S. Geological Survey, 2017, and from company-issued reports. 3 NioCorp is currently conducting technical and economic analyses on the potential addition of magnetic rare earth oxides to its planned product suite. 22

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