AMG Critical Materials N.V. ANNUAL

Market Risk

LIQUIDITY RISK Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. The Company monitors cash flows at varying levels. At the Company level, this monitoring is done on a bi-weekly basis. However, at several subsidiaries, this type of monitoring is done daily. Typically, the Company ensures that it has sufficient cash on demand to meet expected operational expenses for a period of eight weeks, including the servicing of financial obligations. In addition, the Company maintains various borrowing facilities for working capital and general corporate purposes. The Company’s primary facility includes the following: •$350,000 term loan B facility and a $200,000 revolving credit facility with a syndicate of banks that is secured by certain assets of the material subsidiaries of the Company. Interest is payable at a base rate plus a spread based on a leverage ratio. The table below summarizes the maturity profile of the Company’s financial liabilities at December 31, 2023, based on contractual undiscounted payments. The financial derivatives obligations are presented on a net basis for balances where it is appropriate to net the obligation position within a subsidiary for the respective period. 2023 Contractual cash flows < 3 months 3-12 months 2025 2026 2027 2028 > 2028 Term loan / revolver 343,000 875 2,625 3,500 3,500 3,500 329,000 — Cash interest on term loan 97,050 4,286 13,169 17,135 17,508 23,387 21,565 — Municipal bond 307,200 — — — — — — 307,200 Cash interest on municipal bond 399,360 2,560 12,800 15,360 15,360 15,360 15,360 322,560 Other loans and borrowings 5,427 522 2,098 728 679 679 721 — Cash interest on other loans and borrowings 671 126 379 164 2 — — — Financial derivatives 2,855 949 1,484 308 114 — — — Lease payments 74,360 1,667 5,639 5,069 5,084 4,901 4,277 47,723 Trade and other payables 259,339 207,859 51,480 — — — — — Short-term bank debt 7,678 812 6,866 — — — — — Total 1,496,940 219,656 96,540 42,264 42,247 47,827 370,923 677,483 MARKET RISK Market risk is the risk that the fair value of future cash flo