LYNAS RARE EARTHS LIMITED — Director's Dealing 2025

Sep 9, 2025

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Lynas Rare Earths Limited (“ LYC ”).

ABN 27 009 066 648

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Amanda LACAZE
Date of last notice	7 May 2025

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest	Exercise of 148,675 Employee Performance
(including registered holder)	Rights, resulting in an acquisition of 148,675
Note: Provide details of the circumstances giving rise to the relevantinterest.	Ordinary Shares by the Morgan Lacaze FamilyTrust.
	Lapse of 193,206 Employee Performance
	Rights due to performance conditions not
	being met.
Date of change	8 September 2025
No. of securities held prior to change	Direct:
	75,365 Ordinary Shares
	Indirect:
	2,124,328 Ordinary Shares
	1,579,093 Employee Performance Rights
Class	Employee Performance Rights and Ordinary
	Shares

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acq	uired		148,675 Ordin	ary Shares on	exercise of
			Employee Perf	ormance Rig	hts
Number disposed	d		148675 El	Pf	Riht
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation			Nil consideration for the grant of EmployeePerformance Rights
No. of securities held after change			Direct:75,365 Ordinary SharesIndirect:2,273,003 Ordinary Shares1,237,212 Employee Performance Rights
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back			Exercise of 148,675 Employee PerformanceRights, resulting in an acquisition of 148,675Ordinary Shares by the Morgan Lacaze FamilyTrust.Lapse of 193,206 Employee PerformanceRights due to performance conditions notbeing met.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	N/A
If so, was prior written clearance provided to allow thetrade to proceed during this period?	N/A
If prior written clearance was provided, on what date wasthis provided?	N/A

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3