• Net Profit After Tax of $80.2m, up 1,260% from prior period
• Revenue increased 63% driven by higher NdPr sales and improved pricing
• Successful $932m equity raising to fund Towards 2030 growth strategy

Lynas Rare Earths Ltd reported a strong financial performance for the half year ended 31 December 2025, with a Net Profit After Tax of $80.2m, up 1,260% from the prior period. Revenue increased 63% to $413.7m, driven by a 14% increase in NdPr sales volumes and improved pricing, with the average China domestic price of NdPr (VAT excluded) increasing from US$49/kg in December 2024 to US$74/kg in December 2025. Cost of sales increased by 32%, due to the higher sales volumes and a full 6 months of operating costs from the Lynas Kalgoorlie facility. The company also completed a $932m equity raising, comprising a $750m institutional placement and a $182m Share Purchase Plan, to fund its Towards 2030 growth strategy. This strategy aims to optimize performance from the Lynas 2025 capital investments and progress new growth opportunities. Operational highlights included the first customer contracts signed for separated Heavy Rare Earth oxides, the announcement of an expanded Heavy Rare Earths separation facility at Lynas Malaysia, the completion of commissioning of the Mt Weld expansion project, and the successful completion and commissioning of the Mt Weld hybrid renewable power station. The company also signed Memorandums of Understanding with Korean permanent magnet manufacturer JS Link and U.S. manufacturer Noveon Magnetics to develop rare earth permanent magnet facilities.

Lynas expects to maintain its strong financial performance, with continued growth in revenue, profit, and margins. The company has not provided specific forward-looking financial guidance for the 2026 financial year.

Lynas remains focused on executing its Towards 2030 growth strategy, which aims to optimize performance from its Lynas 2025 capital investments and progress new growth opportunities. The company is well-positioned to capitalize on the growing global demand for rare earth materials, particularly in the areas of permanent magnets and other high-value applications.