Exhibit 99.3

1 © 2026 USA Rare Earth. All rights reserved. KEY MILESTONES • Raise at least $500M net proceeds from non - federal sources • Two MOUs from semiconductor companies • Feedstock Supply Agreements through 2027 • Exercise of surface purchase option with Texas GLO • Implement certain third - party recommendations and third - party validation of Nuclear Material Licensing Requirements at Wheat Ridge • Define Power Infrastructure Plan for Magnet Facility • Issuance to DOC of $277M of shares (Priced at 10 - day avg. closing share price as of 01/16/26 of $17.17 or at a discounted price to the equity offering prior to the signing of the LOI or DFA) • Issuance to DOC of warrants representing 10% of FDSO (Priced at 10 - day avg. closing share price as of 01/16/26 of $17.17 or at a discounted price to the equity offering prior to the signing of the LOI or DFA) » Round Top Mine – $137M OTA + $600M Debt • Four Milestones o Design, Scale - up and DFS o Early works o Solvent extraction o Completion of construction • Targeting achievement dates from December 2026 to December 2028 » Metals – $35M OTA + $175M Debt • Two Milestones o Supply, technical feasibility, and construction o Qualification for production and commercialization • Targeting achievement dates from March 2027 to December 2027 » Magnets – $105M OTA + $525M Debt • Four Milestones o Initial production capability and demand validation o Incremental production capability and demand validation • Targeting achievement dates from June 2026 to March 2028 » Additional financing to meet estimated $4.1B required capex » Establish a $250 million revolving credit facility by December 31, 2026 Conditions to Definitive Agreement with USG Funding Milestones