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26 February 2021 Lynas Rare Earths LYNAS RARE EARTHS HALF YEAR 2021 RESULTS Lynas lifts revenue , retains strong cost control and enhances balance sheet for future growth Net Profit : $ 40.6m ( 1H 2020 : $ 3.9m ) Revenue : $ 202.5m ( 1H 2020 : $ 180.1m ) , with record sales achieved in the December quarter • EBIT : $ 46.1m ( 1H 2020 : $ 8.4m ) • EBITDA : $ 80.6m ( 1H 2020 : $ 44.2m ) . Cost of sales : $ 150.8m ( 1H 2020 : $ 151.6m ) • $ 425m equity raising completed to fund Lynas 2025 foundation projects Closing cash and cash equivalents of $ 312.6m ( 1H 2020 : $ 111.8m ) plus $ 200.0m held in short term deposits Debt position reduced to the JARE Facility in the principal amount of US $ 145m , following the conversion of the final tranche of convertible bonds by the bondholders . Lynas Rare Earths Ltd ( ASX : LYC , OTC : LYSDY ) today released its Financial Report for the half year ending 31 December 2020 ( 1H 2021 ) . Lynas Rare Earths CEO and Managing Director , Amanda Lacaze , commented : " This half year demonstrated our ability to achieve strong results across all key financial metrics , while running production at 75 % of Lynas NEXT rates . " Despite ongoing uncertainty in the global economy and logistics / supply chain systems due to the effects of the pandemic , Rare Earths market settings were favourable and pricing for Rare Earths materials improved . We demonstrated our ability to capitalise on this upside during the period , with cost of sales maintained at $ 150.8m while achieving an increase in sales revenue to A $ 202.5 million . LynasRareEarths.com Lynas Rare Earths Ltd. Lvl 1 , 45 Royal St. East Perth WA 6004 | p +61 8 6241 3800 f +61 8 9225 6842 | ACN 009 066 648