MP Materials SPAC Presentation Deck

INTRODUCTION MP Materials ("MP") proposes to combine with Fortress Value Acquisition Corp. ("FVAC") to create a combined company with an estimated $1.5 billion post-transaction equity valuation (with $525MM of net cash) MP is at the center of the electric transportation ecosystem, serving as the only scaled source in North America for critical rare earth materials that enable the mobility of electric vehicles, drones, defense systems, wind turbines, robotics and many other high-growth, advanced technologies • MP is driving the transition to fully green supply chains for electric transportation through best-in-class environmental standards and a low impact production process located in California MP is cash flow positive today, and this transaction will fully fund its growth strategy, which is expected to deliver annual estimated Adj. EBITDA of $252 million in 2023 at estimated forward pricing with the opportunity to significantly expand earnings power as we move downstream Alignment of incentives between the sponsors and proposed new shareholders - FVAC has agreed to subject its founder shares to an earn-out vesting mechanism and MP's existing shareholders plan to roll their existing equity into the combined company as part of the transaction • The business combination is expected to close in Q4 2020 1. Bouding PVAC'haurof money wondrs urwerked Sponsor Promicke Shop and Seller incentive Shona cume $10.00/shons market value and monedione: se sice 30 for consumptions MPMATERIALS 2 Desde oto otonces from ange

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