MP Materials Results Presentation Deck
14
Reconciliation: Diluted Earnings (Loss) per Share to
Adjusted Diluted EPS
(unaudited)
Diluted earnings (loss) per share
Adjusted for:
Stock-based compensation expense
Start-up costs
Transaction-related and other non-recurring costs
Loss on disposals of long-lived assets, net
Tax impact of adjustments above(1)
Release of valuation allowance
Adjusted Diluted EPS
(2)
Basic Weighted-Average Shares Outstanding
Assumed conversion of Convertible Notes (2)
Assumed conversion of restricted stock
Assumed conversion of restricted stock units
Diluted Weighted-Average Shares Outstanding (2
Assumed conversion of Convertible Notes(2)
Assumed conversion of restricted stock(3)
Assumed conversion of restricted stock units
Adjusted Diluted Weighted-Average Shares Outstanding ¹²
(3)
(2)(3)
$
$
For the three months ended September 30,
2022
2023
(0.02) $
0.33
0.03
0.04
0.01
0.01
(0.03)
0.04
177,231,717
177,231,717
582,144
438,803
178,252,664
$
0.04
0.01
(0.01)
(0.01)
0.36
176,543,624
15,584,409
840,786
441,038
193,409,857
193,409,857
$
For the three months
ended June 30,
2023
0.04
1. Tax impact of adjustments is calculated using an adjusted effective tax rate, which excludes the impact of discrete tax costs and benefits, to each adjustment. The adjusted effective tax rates were 29.8%, 23.8% and 31.3% for the three
months ended September 30, 2023 and 2022, and for the three months ended June 30, 2023, respectively.
2. The Convertible Notes were antidilutive for both GAAP purposes and for the purposes of calculating Adjusted Diluted EPS for the three months ended September 30, 2023. The Convertible Notes were antidilutive for GAAP purposes
for the three months ended June 30, 2023. For purposes of calculating Adjusted Diluted EPS, we have added back the assumed conversion of the Convertible Notes since they would not be antidilutive when using Adjusted Net
Income as the numerator in the calculation of Adjusted Diluted EPS.
3. The assumed conversion of restricted stock and restricted stock units was antidilutive for GAAP purposes for the three months ended September 30, 2023. For the purposes of calculating Adjusted Diluted EPS, we have added back
the assumed conversion of restricted stock and restricted stock units since they would not be antidilutive when using Adjusted Net Income as the numerator in the calculation of Adjusted Diluted EPS.
0.03
0.02
0.01
0.01
(0.02)
0.09
176,984,917
555,282
318,919
177,859,118
15,584,409
193,443,527
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