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UNIQUE GLOBAL SUPPLY POSITION WITHOUT ALTERNATIVES HIGH BARRIERS TO ENTRY IN THE EX-CHINA RARE EARTH RESOURCES MARKET GREENFIELD COST: SEVERAL BILLION in AGGREGATE ANNUAL PRODUCTION: 1/3RD OF MP COMBINED TIMING: UNCERTAIN, 2023+ SIGNIFICANTLY HIGHER OPERATING COSTS Ucore Rare Earth Bokan-Dodson, AK in Pilot Testing Texas Mineral Resources Round Top, TX Pre-Feasibility Study Rare Element Resources Bear Lodge, WY love Annual Production EXISTING / IREO MT BROWNFIELD -$350MM CAPEX REQUIRED DUPLICATIVE CAPACITY MP MATERIALS VIP Maor & Raw ferect Resouces Bear Lage project has been suspended soos 201 TIMING: 2024+ GEOPOLITICAL RISK Lynas Western Australia 20,000 Cracking/Leaching Relocation 30,000 10.000 "STAGE II" RETROFIT COST: -$170MM SEPARATED REOS EXPECTED IN 2022 MP MATERIALS Mountain Pass, CA -15% of Global Concentrate Market MP believes it is the only feasible foundation for an integrated Western Hemisphere producer to compete against China Seces Rook Out 201Worley tort O conceronoforover one probable serves for Resources and Roerment Resources are seved 175 13

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