AMG Critical Materials N : ING Roadshow March 2024 Presentation

CRITICAL MATERIALS FOR A SUSTAINABLE PLANET

ING Roadshow | March 2024

AMG CRITICAL MATERIALS N.V.

Lithium Hydroxide Battery-Grade Refinery - Bitterfeld, Germany

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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 the 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 OVERVIEW

AMG Vanadium - Zanesville, Ohio, USA

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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 NEW BUSINESS SEGMENTS

AMG LITHIUM

• AMG's Lithium segment spans the lithium value chain, reducing
  the CO2 footprint of both suppliers and customers.
• AMG Lithium operates a value chain starting with mining and including solid state lithium batteries in Germany.
• Composition:
• • AMG Brazil
  • AMG Lithium GmbH
  • AMG Lithium Portugal
  • Zinnwald Lithium PLC

AMG VANADIUM

• AMG Vanadium is the world's market leader in recycling vanadium from oil refining residues.
• It is the only US ferrovanadium producer and is expanding in the Middle East with the Supercenter project in the Kingdom of Saudi Arabia, through Shell & AMG Recycling BV.
• Composition:
• • AMG Vanadium
  • AMG Titanium
  • AMG Chrome
  • Shell AMG BV

AMG TECHNOLOGIES

• AMG Technologies is the established world market leader in advanced metallurgy and provides equipment engineering to the aerospace engine sector globally.
• Composition:
• • ALD
  • LIVA
  • AMG Silicon
  • AMG Graphite
  • AMG Antimony

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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.
• AMG Engineering entered into €140 million of long-term bilateral unsecured performance-based guarantee facility agreements in January 2022, which replace the existing ones.
• On July 11, 2019, the Company entered into a $307 million 30-year term municipal bond which finances 100% of the ferrovanadium expansion in Zanesville, Ohio. The bond has a coupon rate of 5.0% and matures on July 1, 2049.

BUSINESS RESILIENCE

• Focus on operational efficiency
• Reduction of operating costs and capital expenditures
• Momentum on positive business gains, strong backlogs into early 2023

DISCIPLINED APPROACH TO GROWTH

• AMG Brazil's spodumene production expansion will solidify AMG's low-cost position
• AMG Lithium's refinery, under construction in Germany, is Europe's first lithium hydroxide refinery
• New vanadium spent catalyst recycling facility in Ohio is a clear manifestation of AMG's industry leadership in the recycling of hazardous refinery waste globally

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 industry

consolidation, process innovation and product development

EXPANSION OF EXISTING HIGH-GROWTH BUSINESSES

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

PROCESS INNOVATION & PRODUCT DEVELOPMENT

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

INDUSTRY

CONSOLIDATION

Pursue opportunities for horizontal and vertical industry consolidation across AMG's critical materials portfolio

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
					Beryllium	Bauxite
Nickel			Niobium
	Fluorspar
					Scandium
Ruthenium
Manganese				Heavy REE	Antimony	Phosphorus
		Vanadium	Light REE**
					Coking Coal
Chromium Arsenic
				Indium
Metal	Cobalt	Gallium
		Magnesium*
Cesium			Lithium
				Silicon
Palladium		Natural		Baryte	Metal
Zinc Aluminum		Graphite
			Strontium	Tantalum	Phosphate
			Germanium		Rock
Platinum	Tin		Tungsten		Hafnium	Natural
		Titanium	Rubber
	Rubidium		Borate
			Tellurium

AMG has a unique critical materials portfolio comprised of

9 EU critical materials and 12 US critical materials

The EU identifies 30 total critical raw materials, the US 50**

Sources: The 2020 EU Critical Raw Materials List, published September 2020; and the U.S. list of Critical Materials per the February 2022 notice by	9
the Secretary of the Interior, acting through the Director of the U.S. Geological Survey

*AMG possesses technology license patent for production of Magnesium products; **US list includes the rare earth elements except for Promethium

AMG GLOBAL FOOTPRINT

								Cr	Rotherdam
								U.K.
	Cr Ti	New Castle	Eng	East Windsor				C Si Ti
	(PA), USA	(CT), USA				HTS	Limbach
										GERMANY
						U.K.		GERMANY
Mo V Ni		U.S.A.							FRANCE
								CHINA	C
					Port Huron
				HTS				Sb		Suzhou
				(MI), USA
											CHINA
						Eng	Grenoble		Eng HTS
							FRANCE
										SRI
HTS	Mexico City								LANKA
MEXICO
								MOZAMBIQUE
					BRAZIL
										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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