MP Materials Corp. Appoints David G. Infuso as Chief Accounting Officer

LAS VEGAS – April 4, 2025 – MP Materials Corp. (NYSE: MP) announced the appointment of David G. Infuso as its new Chief Accounting Officer and Principal Accounting Officer, effective April 4, 2025. Infuso replaces CFO Ryan Corbett in this accounting role, while Corbett continues to serve as Chief Financial Officer.

Infuso has been with the company since November 2020, most recently serving as Senior Vice President of Financial Reporting and Technical Accounting. He brings over 17 years of accounting experience, including prior roles at Penn Entertainment, Pinnacle Entertainment, and Deloitte. He is a licensed CPA.

As part of the appointment, Infuso signed a new employment agreement outlining:

$315,000 annual base salary

Eligibility for a discretionary bonus

A grant of 9,932 restricted stock units, vesting over four years

The agreement includes severance benefits in case of termination without cause or in connection with a change in control, including up to 2x salary and bonus, benefit continuation, and accelerated equity vesting under certain conditions.

Infuso’s promotion supports MP Materials’ continued focus on strengthening financial leadership and operational transparency.

MP Materials announced a major milestone in the restoration of the U.S. rare earth magnet supply chain with the commencement of commercial production of neodymium-praseodymium (NdPr) metal at its Independence facility in Fort Worth, Texas. Additionally, trial production of automotive-grade, sintered neodymium-iron-boron (NdFeB) magnets is underway, with the first deliveries planned by the end of 2025.

The facility aims to produce approximately 1,000 metric tons of finished NdFeB magnets annually, supporting industries like automotive, electronics, aerospace, and defense. This marks a significant step in creating a fully integrated domestic supply chain, addressing U.S. reliance on foreign sources for these critical materials. The raw materials for this operation are sourced from MP’s Mountain Pass mine in California, which achieved record-breaking production in 2024, including over 45,000 metric tons of rare earth oxides and 1,300 metric tons of NdPr oxide.

MP Materials continues to expand its operations to provide a complete supply chain solution from mining to magnet manufacturing, enhancing U.S. competitiveness in this vital sector.