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, with a record average selling price of A$98.2/kg, driven by strong magnet demand and security of supply concerns in the rare earths market.

• Entered a long-term partnership with JS Link, including a A$50m equity investment and a 10-year exclusive supply contract for a new magnet factory in Malaysia, supporting downstream manufacturing outside China.

• Safety performance improved, with lost time injury frequency rate reduced to 0.9 by year-end.

• 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$138m, reaching A$1,209.1m at quarter-end, with net proceeds from share issues and grants contributing.

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

• Sales receipts were A$297.1m in Q4 FY26.

• Achieved price premiums for dysprosium and terbium sales due to reliability and market demand.

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

Outlook and guidance

• Confident in future production as process improvements and expertise have been developed to address ore quality variations.

• Anticipates continued strong demand for all rare earth elements produced, with staged product rollouts through 2028, including first customer orders for Samarium oxide in Q1 FY27, Gadolinium in early FY28, Yttrium in early CY2028, and Lutetium thereafter.

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