• US$96 million allocated by U.S. Government for offtake from Lynas
• US$110/kg NdPr floor price
• Binding Letter of Intent to facilitate definitive agreement

Lynas Rare Earths Ltd (ASX: LYC, OTCQX: LYSDY, LYSCF) has announced the signing of a binding Letter of Intent between its wholly owned subsidiary Lynas USA LLC and the United States Department of War (DoW) to finalise a rare earth oxide supply agreement. Under this arrangement, approximately US$96 million will be allocated by the DoW to the purchase of Light and Heavy Rare Earth oxide products from Lynas. The floor price for supply of NdPr oxide will be US$110/kg. The Letter of Intent establishes a framework to finalise an agreement for the supply of Light and Heavy Rare Earth oxides to support U.S. national security and supply chain resilience objectives. The products will be supplied by Lynas to the DoW over a four-year period. This offtake agreement follows the mutual decision to modify the original agreement between Lynas and the DoW based on significant uncertainty as to whether the construction of the Heavy Rare Earth processing facility at Seadrift, Texas would proceed. Lynas and the DoW continue to discuss further supply arrangements including for Heavy Rare Earth oxides.