MP Materials Investor Conference Presentation Deck
Reconciliations
Net Cash Provided by Operating Activities to
Non-GAAP Financial Measures
(in thousands, unaudited)
Net cash provided by operating activities
Additions of property, plant and equipment, net(¹)
Free Cash Flow
Adjusted for:
Revenue recognized in exchange for debt principal reduction (2)
Growth capital expenditures(¹)
Transaction-related, start-up and other non-recurring costs (3)
Normalized Stage I Free Cash Flow
Net cash provided by operating activities
Revenue recognized in exchange for debt principal reduction (²)
Adjusted Operating Cash Flow
For the three months ended
March 31, 2022
$
AA
$
$
120,971
(49,802)
71,169
13,566
47,106
1,282
133,123
120,971
13,566
134,537
1.
Amount is net of $5.1 million in proceeds received from government awards used for construction, specifically, our Stage II optimization project.
2. Referred to previously as Offtake Paydown. Under the terms of the A&R Offtake Agreement and pursuant to the accounting treatment thereof, we recognized $13.6 million of non-cash revenue during the three months ended March 31, 2022, which was retained by Shenghe to
reduce our outstanding debt obligation. Accordingly, such amount is excluded from operating cash flows under GAAP.
3. Excludes items that were accrued but not yet paid.
24View entire presentation