MP Materials(MP) - 2024 Q2 - Quarterly Results

Exhibit 99.1 MP Materials Reports Second Quarter 2024 Results NdPr production more than doubled quarter-over-quarter to 272 metric tons; expect 50% sequential growth in Q3 Signed NdPr supply agreement with a global automaker for a significant volume commitment Awarded Department of Defense NdPr supply contract Received initial $50 million magnetics customer prepayment Expecting approximately $190 million in additional customer prepayments and tax credits by the end of 2025 Commissioned prototype magnet prod ...