Lynas Rare Earths (LYC) investor relations material

Executive summary

• Achieved major milestones in the Lynas 2025 capital projects, including commissioning of Mount Weld expansion, a 65 MW hybrid renewable power station, and new water recycling facilities.

• Launched 'Towards 2030' five-year growth strategy to optimize performance, increase capacity, and expand into the metal and magnet supply chain.

• Net profit after tax for 1H26 was $80.2m, up 1,259% year-over-year, driven by higher NdPr sales, improved pricing, and first sales of Dy and Tb.

• Equity raising of $932.6m completed, strengthening the balance sheet and supporting growth initiatives.

• CEO Amanda Lacaze announced intention to retire by end of FY26; succession process underway.

Financial highlights

• Net profit after tax rose to $80.2m, up from $5.9m in 1H FY25.

• Sales revenue increased to $413.7m, up 63% year-over-year.

• EBITDA reached $152.4m, up 300% from $38.1m in 1H FY25.

• Cash and short-term deposits surged to $1,030.9m from $166.5m at June 2025.

• Gross profit rose 190% to $142.0m; gross margin improved due to higher prices and product mix.

Outlook and guidance

• Market settings expected to remain positive, with NdPr prices rising and demand growth from Japanese magnet makers and ex-China supply chains.

• 'Towards 2030' strategy aims to optimize performance, increase capacity, and expand into downstream supply chains.

• Plans to expand NdPr capacity beyond 12,000 tonnes per annum, with a pathway to an additional 2,400 tonnes identified.

• Expanded HRE separation facility in Malaysia with first Samarium production targeted for Q4 FY26.

• Focus on optimizing production costs and ramping up new capacity at Mt Weld and Kalgoorlie.