Lynas : April 28, Receipt of Funds and Appendix 3B

28 April 2017

Lynas Corporation (ASX:LYC, OTC:LYSDY) is pleased to announce that Lynas has received an additional $780,382.33, following an exercise of 20,536,377 Warrants that were issued on 7 September 2015, each with an exercise price of $0.038 per Warrant. As a result of the exercise of Warrants, 20,536,377 new ordinary shares will be issued today.

The funds received today will further supplement the Company's working capital buffer in the current dynamic market environment.

Attached are the following documents concerning the exercise of Warrants:

1. Notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth)

2. Appendix 3B.

Andrew Arnold Company Secretary

Lynas Corporation HQ

PT17212 Jalan Gebeng 3, Kawasan Perindustrian Gebeng, 26080 Kuantan, Pahang Darul Makmur, Malaysia Tel: +60 9 582 5200 +60 9 582 5800

Fax: +60 9 582 5291 +60 9 582 5292

www.lynascorp.com ACN 009 066 648

28 April 2017

We refer to the issue on 28 April 2017 of 20,536,377 ordinary shares for an exercise price of $780,382.33, following the exercise of Warrants that were issued on 7 September 2015, each of which is exercisable at $0.038 per Warrant on or before 30 September 2018.

In accordance with section 708A(6) of the Act, Lynas Corporation Limited (Lynas) confirms that:

1. The shares were issued without disclosure to investors under Part 6D.2 of the Act.

2. This notice is being given under section 708A(5)(e) of the Act.

3. As at the date of this notice, Lynas has complied with:

4. the provisions of Chapter 2M as they apply to Lynas; and

5. section 674 of the Act as it applies to Lynas.

6. As at the date of this notice, there is no information that is excluded information as defined in sections 708A(7) and 708A(8) of the Act.

Andrew Arnold Company Secretary

Lynas Corporation HQ

PT17212 Jalan Gebeng 3, Kawasan Perindustrian Gebeng, 26080 Kuantan, Pahang Darul Makmur, Malaysia Tel: +60 9 582 5200 +60 9 582 5800

Fax: +60 9 582 5291 +60 9 582 5292

www.lynascorp.com ACN 009 066 648

Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

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 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12

Name of entity

LYNAS CORPORATION LTD

ABN

27 009 066 648

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

Ordinary Shares

1 +Class of +securities issued or to be issued

20,536,377

1. Number of +securities issued or to be issued (if known) or maximum number which may be issued

   Ordinary Shares

2. Principal terms of the

   +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if

   +convertible securities, the conversion price and dates for conversion)

   Rank equally with existing Ordinary Shares

   .

3. Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities?

   If the additional securities do not rank equally, please state:

   • the date from which they do

   • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

   • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

     $780,382.33

4. Issue price or consideration

   Issued on the exercise of 20,536,377 Warrants that were issued on 7 September 2015, each of which is exercisable at $0.038 per Warrant on or before 30 September 2018

5. Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

No

6aIs the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

6b The date the security holder resolution under rule 7.1A was passed

6c Number of +securities issued without security holder approval under rule 7.1

6d Number of +securities issued with security holder approval under rule 7.1A

+ See chapter 19 for defined terms.

Appendix 3B Page 2 01/08/2012