MP Materials Investor Presentation — June 2022

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BMO Rare Earth Supply Chain Conference

This presentation contains certain statements that are not historical facts and are forward -looking statements for purposes of the safe harbor provisions under the

United States Private Securities Litigation Reform Act of 1995. Forward -looking statements may be identified by the use of words such as “estimate,” “plan,” “project,”

“forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “will,” “target,” or similar expressions that predict or ind icate future events or trends or that are not

statements of historical matters. These forward -looking statements include, but are not limited to, statements regarding the market for rare earth materials, future

demand for electric vehicles and magnets, estimates and forecasts of our results of operations and other financial and performan ce metrics, and the Company’s Stage II

and Stage III projects. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial

results and business.

Accordingly, the Company cautions that the forward -looking statements contained herein are qualified by important factors that could cause actual results to differ

materially from those reflected by such statements. These forward -looking statements are subject to a number of risks and uncertainties, including changes in domestic

and foreign business, market, financial, political and legal conditions; changes in demand for NdFeB magnets; the effects of competition on the Company’s future

business; risks related to the rollout of the Company’s business strategy, including Stage II and Stage III, and the timing of achieving expected business milestones; risks related to the Company’s long -term agreement with General Motors, including the Company’s ability to produce and supply NdFeB magnets; the impact of the global