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  "documentTitle": "MP Materials | Investor Conference Presentation Deck | 30 slides",
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  "presentationDate": "2021-11-01 00:00:00",
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  "notes": "The chart bridges from reported FCF to normalized FCF by adding back offtake paydown, growth capex, and deal costs.",
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      "text": "Waterfall chart showing Free Cash Flow ($3.3M) + Offtake Paydown ($22.9M) + Growth Capex ($42.8M) + Deal Costs ($1.3M) = Norm. Stage I Free Cash Flow ($70.3M)",
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      "text": "1. Defined as Normalized Stage I Free Cash Flow as a percentage of Product sales\n2. Reflects the reduction in the Shenghe Offtake balance...\n3. See Appendix...\n4. Growth Capex consists primarily of...\n5. Deal Costs & One-Time Items...",
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      "text": "YTD 2Q 2021 Reported FCF to Normalized Stage I FCF Bridge ($M)",
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