Core Points - Saudi Arabian Mining Co. (Maaden) has entered into a binding term sheet with MP Materials Corp. and Mountain JV, LLC to establish a joint venture for a rare earth element refining and separation facility in Saudi Arabia [1][2] - The binding term sheet is valid until March 31, 2027, unless otherwise agreed by the parties [1][5] - The agreement includes advisory and technical services, as well as the formation of a joint venture to fund, develop, and construct the Processing Facility [2][4] Advisory and Technical Services - MP Materials will provide advisory support to Maaden for preparing a bankable feasibility study for the Jabal Sayid mine project [3] - MP Materials will also assist Maaden in preparing a bankable feasibility study for the Processing Facility [4] Joint Venture Structure - The joint venture will be formed between Maaden and Mountain JV, LLC, with MP Materials holding an equity interest [4] - Maaden will hold a minimum 51% ownership stake in the joint venture, while Mountain JV, LLC will hold a maximum 49% [4] - Maaden will serve as the operator of the Processing Facility [4] Financial Impact - The execution of the binding term sheet does not entail any immediate financial impact, but the financial implications of the proposed transactions will be determined in the final agreements [6]