USA Rare Earth (USAR) Investor presentation summary

Strategic vision and mission

• Aims to secure, reshore, and expand the rare earth magnet value chain for the U.S. and allies, focusing on national security and supply chain resilience.

• Developing a scalable mine-to-magnet platform with full metal-making capabilities, targeting independence from China.

• Broad relationships across semiconductors, aerospace, defense, industrial, and automotive sectors.

Asset base and operational footprint

• Round Top deposit in Texas is among the largest heavy rare earth element (HREE) deposits in North America, with high concentrations of Dy, Tb, Y, Ga, Gd, and Hf.

• Integrated operations include mining, processing, metal making (UK, France, OK), and magnet manufacturing (OK), with expansion plans for strip casting and magnet capacity.

• Commercial production at Round Top expected in late 2028, two years ahead of initial schedule.

Government collaboration and funding

• Proposed U.S. government partnership under the CHIPS program provides ~$1.6B in milestone-based funding, including $277M direct funding and $1.3B senior secured loan.

• Collaboration aims to accelerate domestic production, establish a secure value chain, and align with institutional investors.

• Funding supports mining, processing, metal, and magnet making, with a clear capital path to ~$4.1B in total uses.