Mynd.ai, Inc.

Adjusted EBITDA

We define Adjusted EBITDA as net loss adjusted for interest expense, interest income, income tax expense (benefit), depreciation and amortization, as well as non-cash, non-operating expenses such as share-based compensation, changes in the fair value of derivative instruments, and other income (expense); and other significant items that management does not consider indicative of normal operations. Other significant items, such as one-time, unplanned and/or infrequent events we believe are outside the ordinary course of our operations, including transaction-related costs, restructuring costs, and litigation costs and penalties, involve distinct initiatives that are not reflective of core operating activities, and affect the comparability of our operational results across reporting periods.

Reconciliation of Adjusted EBITDA to net loss:

(1) Refers to employee severance costs, contract termination costs, facility restructuring, and business restructuring efforts undertaken by management.