Investor Presentation: Company Description 2024

AMG CRITICAL MATERIALS N.V.

THE ENERGY OF NATURE

Investor Presentation | Company Description 2024

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CAUTIONARY NOTE

This document contains proprietary information and is being provided solely for information purposes by AMG Critical Materials N.V. (The "Company") and may not be reproduced in any form or further distributed to any other person or published, in whole or in part, for any purpose, except with the prior written consent of the company. Failure to comply with this restriction may constitute a violation of applicable securities laws.

This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries nor should it or any part of it, nor the fact of its distribution, form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

This presentation has been prepared by, and is the sole responsibility of, the Company. This document, any presentation made in conjunction herewith and any accompanying materials are for information only and are not a prospectus, offering circular or admission document. This presentation does not form a part of, and should not be construed as, an offer, invitation or solicitation to subscribe for or purchase, or dispose of any of the securities of the companies mentioned in this presentation. These materials do not constitute an offer of securities for sale in the United States or an invitation or an offer to the public or form of application to subscribe for securities. Neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever. The information contained in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information or the opinions contained herein. The Company and its advisors are under no obligation to update or keep current the information contained in this presentation. To the extent allowed by law, none of the Company or its affiliates, advisors or representatives accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.

Certain statements in this presentation constitute forward-looking statements, including statements regarding the Company's financial position, business strategy, plans and objectives of management for future operations. These statements, which contain the words "believe," "expect," "anticipate," "intends," "estimate," "forecast," "project," "will," "may," "should" and similar expressions, reflect the beliefs and expectations of t he management board of directors of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the achievement of the anticipated levels of profitability, growth, cost and synergy of the Company's recent acquisitions, the timely development and acceptance of new products, the impact of competitive pricing, the ability to obtain necessary regulatory approvals, and the impact of general business and global economic conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein.

Neither the Company, nor any of its respective agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this presentation.

The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice.

This document has not been approved by any competent regulatory or supervisory authority.

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AMG:

A CRITICAL MATERIALS COMPANY

GLOBAL TRENDS

CO2 emission reduction, circular economy, population growth, increasing affluence, and energy efficiency

DEMAND

Innovative new products that promote CO2 reduction, including materials with higher energy density and higher temperature resistance, as well as products that are lighter and stronger than competing materials

SUPPLY

AMG sources, upgrades, purifies, and supplies the critical minerals that the market demands

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AMG PROVIDES CRITICAL MATERIALS AND RELATED PROCESS TECHNOLOGIES TO ADVANCE A LESS CARBON-INTENSIVE WORLD

A GLOBAL IMPERATIVE FOR THE 21ST CENTURY

AMG:

ENABLING TECHNOLOGIES

Products and processes saving CO2 emissions during use (e.g., light-weighting and fuel efficiency in the aerospace and automotive industries)

AMG:

MITIGATING TECHNOLOGIES

Products and processes saving raw minerals, energy and CO2 emissions during manufacturing (e.g., recycling of ferrovanadium)

AMG'S ENABLED CO2 EMISSION REDUCTIONS

(Million MT)

2023	110.3
2022	99.4
2021	79.0
2020	56.6 *
2019	67.8
2018	61.5
2017	56.0
2016	53.3
2015	42.0

* 2020 decrease due to the global pandemic significantly impacting volumes in our aerospace exposed businesses

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AMG AT A GLANCE

FY 2023 REVENUE

25% AMG Lithium

BY

SEGMENT

44% AMG Vanadium

31% AMG Technologies

AMG IS A GLOBAL

SUPPLIER OF

CRITICAL

MATERIALS TO:

							48% Transportation
BY END				17% Specialty Metals
MARKET				& Chemicals
							20% Infrastructure
							15% Energy

					28% Europe
	BY
			32% North America
REGION
					36% Asia
					4% ROW

ENERGY

TRANSPORTATION	INFRASTRUCTURE	SPECIALTY METALS
		AND CHEMICALS

Market leading producer of critical materials and related process technologies

~3,600

Employees

~$1.6 billion

Annual Revenues

At the forefront of

CO2 Reduction

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AMG BUSINESS SEGMENTS

AMG LITHIUM

Value chain spanning the lithium industry, from mining to solid-state lithium batteries

• Brazil (Tantalum & Lithium)
• Lithium GmbH in Germany

						77% Transportation
2023								6% Specialty
							Metals &
REVENUE							Chemicals
							5% Infrastructure
								12% Energy

AMG VANADIUM

Market leader in recycling vanadium from oil refining residues

• Vanadium
• Titanium
• Chrome
• SARBV

20% Energy

2023				38%
				Transportation
REVENUE
		17%
					Specialty Metals
					& Chemicals
			25% Infrastructure

AMG TECHNOLOGIES

Established world market leader in advanced metallurgy & engineering

• Vacuum furnaces
• Heat treatment services
• LIVA batteries
• Silicon Metal
• Graphite
• Antimony

		23%
					Specialty Metals
					& Chemicals
2023		25%
REVENUE
			Infrastructure
					9% Energy
			43% Transportation

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STRONG FUNDAMENTALS, ADAPTIVE TO GLOBAL DISRUPTION

OPTIMIZED CAPITAL STRUCTURE

• In November 2021, AMG entered into a new $350 million 7-year senior secured term loan B facility ("term loan") and a $200 million 5-year senior secured revolving credit facility ("revolver"). The total facility amount of $550 million replaced AMG's prior credit facility and extended the term loan maturity from 2025 to 2028 and revolver maturity from 2023 to 2026.
• On April 15, 2024, the Company entered into a new $100 million incremental term loan, structured as a fungible add-on to the existing $350 million senior secured term loan, with the same pricing, terms and 2028 maturity as the existing $350 million term loan. AMG will use the proceeds of the new incremental term loan for general corporate purposes and lithium resource development.
• AMG Engineering entered into €140 million of long-term bilateral unsecured performance-based guarantee facility agreements in January 2022, which replace the existing ones.

BUSINESS	• Focus on operational efficiency
• Reduction of operating costs and capital expenditures
RESILIENCE
• Momentum on positive business gains, strong backlogs into early 2024

DISCIPLINED APPROACH TO GROWTH

• AMG Brazil's spodumene production expansion solidifies AMG's low-cost position
• AMG's lithium hydroxide refinery's first 20,000-ton module in Bitterfeld, Germany, is in advanced phases of commissioning, and the product qualification process is planned to start in Q3 2024.
• During 2023, AMG Vanadium ramped up its new ferrovanadium production facility in Zanesville, Ohio, doubling the Company's spent catalyst throughput capacity to approximately 11 million pounds of ferrovanadium per year.

The fundamental positions of our businesses are sound,

and AMG remains focused on disciplined, sustainable growth

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STRATEGY

AMG's strategy is to build its critical materials business through process

innovation and product development focusing on CO2 reduction

EXPANSION OF EXISTING	PROCESS INNOVATION &
HIGH-GROWTH BUSINESSES	PRODUCT DEVELOPMENT	CO2 REDUCTION

Pursue opportunities in high-growth areas within the existing product portfolio

Continue to focus on process innovation and product development to improve the market position of AMG's businesses

Provide critical materials and related process technologies to advance a less carbon-intensive world

AMG's overriding strategic objective is to achieve industry leadership while being the low-costproducer

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CRITICAL RAW MATERIALS: AMG PRESENCE

US Critical Materials			EU Critical Materials
	Rhodium	Bismuth	PGMs
	Zirconium
	Hafnium	Beryllium	Feldspar
Ruthenium	Fluorspar	Niobium		Scandium
		Cobalt
				Arsenic	Antimony	Phosphorus
Chromium			Heavy REE
Metal	Vanadium
		Light REE**			Coking Coal
		Aluminum
Palladium	Baryte
			Magnesium*
Cesium	Gallium
			Silicon
Zinc			Lithium	Strontium	Metal
Natural
Rubidium	Graphite
			Nickel
				Tantalum	Phosphate
Tin
	Germanium		Rock
Platinum	Tungsten	Manganese	Helium
			Titanium

Indium		Copper
	Tellurium	Borate

AMG has a unique critical materials portfolio comprised of

11 EU critical materials and 12 US critical materials

The EU identifies 34 total critical raw materials, the US 50**

Sources: The European Commission's "Study on the Critical Raw Materials for the EU 2023," published March 2023; and the U.S. list of Critical
Materials per the February 2022 notice by the Secretary of the Interior, acting through the Director of the U.S. Geological Survey	9
*AMG possesses technology license patent for production of Magnesium products; **US list includes the rare earth elements except for Promethium

AMG GLOBAL FOOTPRINT

Cr Ti	New Castle
(PA), USA

Mo V Ni

U.S.A.

			Cr	Rotherdam
			U.K.
Eng	East Windsor			C Si Ti
(CT), USA			HTS	Limbach
					GERMANY
		U.K.		GERMANY
				Eng	Hanau
					GERMANY

			FRANCE
	Port Huron			CHINA	C
HTS		Sb		Suzhou
(MI), USA
					CHINA
		Eng	Grenoble	Mumbai Eng	Eng HTS
		FRANCE	INDIA

HTS Mexico City

MEXICO

BRAZIL

SRI

LANKA

MOZAMBIQUE

C

Li Ta Nb

LITHIUM

VANADIUM

TECHNOLOGIES

Li	Lithium	Ta	Tantalum	Nb	Niobium
V	Ferrovanadium	Ti	Titanium	Cr	Chromium Metal	Mo	Molybdenum	Ni Nickel
Eng	Engineering	HTS	Heat Treatment Services	Sb Antimony	C	Natural Graphite	Si Silicon Metal

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