USA Rare Earth and Inflection Point Acquisition Corp. II Announce Closing Of Business Combination And Upsized PIPE Funding By Additional $8M; On March 14, 2025, USAREs Common Stock And Public Warrants Will Begin Trading On The Nasdaq Under The Ticker Symbol "USAR"

USA Rare Earth, Inc. ("USARE" or the "Company"), a company building out a domestic rare earth magnet supply chain that includes the mining and processing of heavy rare earths and other critical minerals, today announced that it has completed its business combination with Inflection Point Acquisition Corp. II (NASDAQ:IPXX) ("IPXX"), a special purpose acquisition company (the "Business Combination"). The Business Combination was approved by IPXX stockholders in a special meeting held on March 10, 2025 and formally closed on March 13, 2025. USARE and IPXX also announced an additional $8 million upsize to the PIPE today contributed by affiliates of IPXX and other investors in connection with this business combination. This brings the total investment of IPXX's affiliates and other pre-funded PIPE investors to nearly $50 million.

On March 14, 2025, USARE's common stock and public warrants will begin trading on the Nasdaq under the ticker symbol "USAR" and "USARW" respectively.

USA Rare Earth has a unique opportunity to become the leading domestic supplier of rare earth neo magnets and heavy rare earths required for technologies across a wide range of industries, including semiconductors, defense, robotics, electric vehicles and energy transition among others.