MP Materials Investor Conference Presentation Deck
1.
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
Free Cash Flow
Adjusted for:
Revenue recognized in exchange for debt principal reduction (1)
Growth capital expenditures
Deal costs and one-time items
Normalized Stage I Free Cash Flow
Net cash provided by operating activities
Revenue recognized in exchange for debt principal reduction (1)
Adjusted Operating Cash Flow
For the six months
ended June 30,
2021
47,969
(44,691)
3,278
22,901
42,847
1,305
70,331
47,969
22,901
70,870
Referred to previously as Offtake Paydown. Under the terms of the A&R Offtake Agreement and pursuant to the accounting treatment thereof, we recognized $22.9 million of non-cash revenue during the six months ended June 30, 2021, which was retained by Shenghe to reduce
our outstanding debt obligation. Accordingly, such amount is excluded from operating cash flows under GAAP.
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