Lynas Rare Earths (LYC) investor relations material

Executive summary

• Achieved record quarterly sales revenue of A$288.9m in Q4 FY26, up 70% year-over-year, and record 98% of a kilogram average selling price, driven by strong magnet demand and security of supply concerns.

• Entered a new partnership with JS Link, including a A$50 million investment and a 10-year supply contract for a 3,000-ton magnet factory in Malaysia, with exclusive supply arrangement until January 2038.

• Safety performance improved, with lost time injury frequency rate reduced from 2 to 0.9 by year-end; Total Recordable Injury/Illness Rate was 4.1 per million hours.

• Interim CEO Pol Le Roux commenced 1 July 2026, following the retirement of Amanda Lacaze.

• First Samarium oxide produced in March 2026, with customer qualification underway and first orders expected in Q1 FY27.

Financial highlights

• Cash position improved by A$138 million, reaching A$1,209.1 million at quarter-end, up from A$1,070.0 million at 31 March 2026.

• Gross sales revenue reached A$288.9m in Q4 FY26, up from A$170.2m in Q4 FY25 and A$265.0m in Q3 FY26.

• Sales receipts were A$297.1m in Q4 FY26, up from A$152.7m in Q4 FY25.

• CapEx for the heavy rare earths (HRE) project increased to A$294 million due to equipment sourcing outside China and enhanced product purity requirements.

• Cash payments for CAPEX, exploration, and development were A$27.8m in Q4 FY26.

Outlook and guidance

• Confident outlook for the upcoming quarter, with operational improvements and market opportunities.

• Continued ramp-up of heavy rare earth production capacity to meet growing global demand, especially outside China.

• First customer orders for Samarium oxide expected in Q1 FY27.

• Staged rollout of new rare earth products: gadolinium (early FY28), yttrium (early 2028), lutetium (April 2028), and expanded samarium production (early 2028).