MP Materials SPAC Presentation Deck

RECONCILIATIONS OF NON-GAAP MEASURES Reconciliations of GAAP to Non-GAAP Measures(¹) ($MM) Net Income (GAAP) (+) Depreciation and Amortization (+) Asset Retirement and Environmental Liability Accretion (+) Interest Expense (+) Income Tax Provision EBITDA (+) Deferred Revenue Adjustment1²1 (+) Non-Recurring Items Adjusted EBITDA Net Cash Flow from Operations (GAAP) (+) Net Purchases of Property, Plant, and Equipment Free Cash Flow MPHATERIALS HOME FY 2019 ($5.1) 4.7 2.1 0.0 $4.7 $8.5 ($1.6) $4.0 Q1 2020 SUPPLEMENTAL MATERIALS $1.5 1.1 0.4 0.7 $4.1 0.7 $4.7 (2.0) $1.5

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