MP Materials SPAC Presentation Deck

WORLD-CLASS ORE BODY HIGH-GRADE MINE ENABLES SUPERIOR VALUE CREATION ACROSS ALL STAGES Uniquely high-grade mine with significant content of higher value-added rare earth elements Nd and Pr . -2,200 fee simple acres with -15,000 acres of mineral rights: 30- year mine permit October 2019 NI 43-101 Resources and Reserves Study reflects -20 years of mine life with conservative operating assumptions February 2020 SRK Technical Memo recognizes the potential for 15+ years of additional mine life (before pursuing an updated exploratory drilling program] driven by the ability to sell products outside of China - Sales outside China would not be burdened by VAT or tariffs. which should drive an increase to economically proven and probable reserves Currently undertaking analysis to upgrade statement to be SEC Guide 7 compliant: MP expects an upgrade to both total Proven & Probable reserves as well as total mine life MP MATERIALS Resources Proven Probable Proven + Probable Resource Metric Tons 214,786 14,431,568 14,646,354 Sources 43-101 Tachwica Rapot Mountain Pen Rose Curth Phoject Son Bemoeding County Collonic 2011, Puck Wiror. Bon Plan Or. Obor & Fochigu 1. Asuma 705 mll cove Grade (TREO %) 9.0% Contained Recoverable tREO Tons 19.331 7.8% 1,128.549 7.8% 1,147,879 tREO Tons (¹) 13,532 789,984 803,516 STRATEGY

View entire presentation