DYNO NOBEL LIMITED. — Major Shareholding Notification 2017

Oct 8, 2017

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	INCITEC PIVOT LTD
ACN/ARSN
1. Details of substantial holder (1) .	$\mathcal{L}$ , and a second contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contr

Name		Harris Associates L.P. ("Harris"), and its related bodies corporate
ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on		04-Oct-2017
The previous notice was given to the company on		15-Mar-2017
The previous notice was dated		15-Mar-2017

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	I Previous Notice		Present Notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Common Stock	160.065.490	9.49%	177.586,938	10.53%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6) .	Consideration given I in relation to change	Class and number of Person's securities affected	votes affected
See "Annexure "A"

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant	ੋ Reɑistered holder of ▌Person entitled to	I be registered as	Nature of relevant	Class and number	Person's
∣interest	securities	holder (8)	interest (6)	of securities	votes
' See Annexure "B"

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as fo

I Name and ACN/ARSN (if applicable)	Nature of association
N/A

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Harris Associates L.P.	1111 S. Wacker Drive, Suite 4600, Chicago IL 60606, USA
Harris Associates Investment Trust	1111 S. Wacker Drive, Suite 4600, Chicago IL 60606, USA

Signature

print name	Kim Colwell	capacity	Senior Compliance Officer
sign here	Jm Colbell	date	06-Oct-2017

Annexure "A"

3. Changes in relevant interests (from 16-Mar-2017 to 04-Oct-2017)

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the
company or scheme, since the substantial holder was last required to give

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
16-Mar-2017	Harris Associates L.P.	Disposed on market	-3,931,816.49 AUD	-1,019,900 Common Stock	$-1.019,900$
16-Mar-2017	Harris Associates L.P.	Disposed on market	-3,485.22 AUD	-903 Common Stock	$-903$
16-Mar-2017	Harris Associates L.P.	Disposed on market	-586,720.00 AUD	-152,000 Common Stock	$-152,000$
16-Mar-2017	Harris Associates L.P.	Disposed on market	-374.75 AUD	-97 Common Stock	$-97$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-752.14 AUD	-198 Common Stock	$-198$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-65,758.35 AUD	-17,298 Common Stock	$-17,298$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-38,377.15 AUD	-10,095 Common Stock	$-10,095$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-4,157,565.73 AUD	-1,093,607 Common Stock	$-1,093,607$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-54,745.92 AUD	-14,400 Common Stock	$-14,400$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-2,275.03 AUD	-598 Common Stock	$-598$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-1,975,002.12 AUD	-518,700 Common Stock	$-518,700$
17-Mar-2017	Harris Associates L.P.	Disposed on market	-39,227.96 AUD	-10,302 Common Stock	$-10,302$
17-Mar-2017	Harris Associates L.P.	Disposed on market	$-1,151.80$ AUD	-302 Common Stock	$-302$
20-Mar-2017	Harris Associates L.P.	Disposed on market	-32,770.42 AUD	-8,598 Common Stock	$-8,598$
20-Mar-2017	Harris Associates L.P.	Disposed on market	-32,790.33 AUD	-8,603 Common Stock	$-8,603$
20-Mar-2017	Harris Associates L.P.	Disposed on market	-5,274,480.65 AUD	-1,383,797 Common Stock	$-1,383,797$
20-Mar-2017	Harris Associates L.P.	Disposed on market	-152,094.45 AUD	-39,902 Common Stock	$-39,902$
21-Mar-2017	Harris Associates L.P.	Disposed on market	$-4.179.43$ AUD	-1,098 Common Stock	$-1,098$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-18,276.96 AUD	-4,800 Common Stock	$-4,800$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-86,810.98 AUD	-22,797 Common Stock	$-22,797$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-1,223,923.34 AUD	-321,400 Common Stock	$-321,400$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-7,628.02 AUD	-2,003 Common Stock	$-2,003$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-17,145,87 AUD	-4,502 Common Stock	$-4,502$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-11,044.94 AUD	$-2,900$ Common Stock	$-2,900$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-4,952.35 AUD	-1,300 Common Stock	$-1,300$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-13,744.72 AUD	-3,603 Common Stock	$-3,603$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-43,089.30 AUD	-11,295 Common Stock	$-11,295$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-992,670.63 AUD	-260,202 Common Stock	$-260,202$

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
21-Mar-2017	Harris Associates L.P.	Disposed on market	$-1,156.28$ AUD	-303 Common Stock	$-303$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-370.75 AUD	-97 Common Stock	$-97$
21-Mar-2017	Harris Associates L.P.	Disposed on market	-3,646,929.83 AUD	-952,201 Common Stock	$-952,201$
22-Mar-2017	Harris Associates L.P.	Disposed on market	-1,643,759.50 AUD	-432,500 Common Stock	$-432,500$
23-Mar-2017	Harris Associates L.P.	Acquired on market	1,141,220.96 AUD	301,400 Common Stock	301,400
10-Apr-2017	Harris Associates L.P.	Acquired on market	721,992.92 AUD	196,900 Common Stock	196.900
10-Apr-2017	Harris Associates L.P.	Acquired on market	2,205,000.00 AUD	600,000 Common Stock	600,000
11-Apr-2017	Harris Associates L.P.	Acquired on market	1,357,400.32 AUD	372,646 Common Stock	372,646
11-Apr-2017	Harris Associates L.P.	Acquired on market	3,665,000.00 AUD	1,000,000 Common Stock	1,000,000
11-Apr-2017	Harris Associates L.P.	Acquired on market	2,305,378.76 AUD	628,854 Common Stock	628,854
18-Apr-2017	Harris Associates L.P.	Disposed on market	-63,857.50 AUD	-17,500 Common Stock	$-17,500$
19-Apr-2017	Harris Associates L.P.	Acquired on market	589,401.12 AUD	162,800 Common Stock	162,800
19-Apr-2017	Harris Associates L.P.	Disposed on market	-87,912,00 AUD	-24,000 Common Stock	$-24,000$
21-Apr-2017	Harris Associates L.P.	Acquired on market	164,851.23 AUD	45,300 Common Stock	45,300
21-Apr-2017	Harris Associates L.P.	Acquired on market	237,751.71 AUD	65,100 Common Stock	65,100
24-Apr-2017	Harris Associates L.P.	Acquired on market	380,140.80 AUD	104,000 Common Stock	104,000
26-Apr-2017	Harris Associates L.P.	Acquired on market	889,830.83 AUD	238,900 Common Stock	238,900
27-Apr-2017	Harris Associates L.P.	Acquired on market	1,558,727.70 AUD	411,567 Common Stock	411,567
28-Apr-2017	Harris Associates L.P.	Acquired on market	1.726,678.45 AUD	453,959 Common Stock	453,959
01-May-2017	Harris Associates L.P.	Acquired on market	415,000.08 AUD	109,800 Common Stock	109,800
03-May-2017	Harris Associates L.P.	Acquired on market	1,722,340.62 AUD	471,900 Common Stock	471,900
05-May-2017	Harris Associates L.P.	Acquired on market	2,695,269.60 AUD	740,174 Common Stock	740,174
11-May-2017	Harris Associates L.P.	Acquired on market	70,807.30 AUD	19,000 Common Stock	19,000
17-May-2017	Harris Associates L.P.	Acquired on market	345,879.45 AUD	94,500 Common Stock	94,500
17-May-2017	Harris Associates L.P.	Acquired on market	257,846.34 AUD	70,300 Common Stock	70,300
17-May-2017	Harris Associates L.P.	Acquired on market	1,160,675.34 AUD	316,200 Common Stock	316,200
18-May-2017	Harris Associates L.P.	Acquired on market	1,096,615.08 AUD	306,900 Common Stock	306,900
19-May-2017	Harris Associates L.P.	Acquired on market	2,310,038.50 AUD	660,011 Common Stock	660,011
19-May-2017	Harris Associates L.P.	Acquired on market	60,373.26 AUD	17,100 Common Stock	17,100
19-May-2017	Harris Associates L.P.	Acquired on market	1,657,182.59 AUD	468,700 Common Stock 50,700 Common	468,700
24-May-2017	Harris Associates L.P.	Acquired on market	175,675.50 AUD	Stock	50,700

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
24-May-2017	Harris Associates L.P.	Acquired on market	1,593,185.00 AUD	456,500 Common Stock	456,500
26-May-2017	Harris Associates L.P.	Acquired on market	82,812.80 AUD	23,511 Common Stock	23,511
26-May-2017	Harris Associates L.P.	Acquired on market	1,624,773.76 AUD	460,589 Common Stock	460,589
05-Jun-2017	Harris Associates L.P.	Acquired on market	709,671.00 AUD	206,600 Common Stock	206,600
05-Jun-2017	Harris Associates L.P.	Acquired on market	343,680.00 AUD	100,000 Common Stock	100,000
25-Aug-2017	Harris Associates L.P.	Acquired on market	51,383.60 AUD	15,200 Common Stock	15,200
05-Sep-2017	Harris Associates L.P.	Disposed on market	-23,592.33 AUD	-7,098 Common Stock	$-7,098$
05-Sep-2017	Harris Associates L.P.	Disposed on market	-2,058,289.37 AUD	-619,202 Common Stock	$-619,202$
08-Sep-2017	Harris Associates L.P.	Acquired on market	98,931.40 AUD	28,400 Common Stock	28,400
15-Sep-2017	Harris Associates L.P.	Disposed on market	$-146,945.05$ AUD	-41,798 Common Stock	$-41,798$
15-Sep-2017	Harris Associates L.P.	Disposed on market	-1,210,462.54 AUD	-344,302 Common Stock	$-344,302$
20-Sep-2017	Harris Associates L.P.	Acquired on market	251,099.16 AUD	68,900 Common Stock	68,900
22-Sep-2017	Harris Associates L.P.	Disposed on market	-122,656.80 AUD	-33,600 Common Stock	$-33,600$
03-Oct-2017	Harris Associates L.P.	Acquired on market	364,250.00 AUD	100,000 Common Stock	100,000
03-Oct-2017	Harris Associates L.P.	Acquired on market	3,741,250.00 AUD	1,025,000 Common Stock	1,025,000
03-Oct-2017	Harris Associates L.P.	Acquired on market	2,373,085.00 AUD	650,000 Common Stock	650,000
04-Oct-2017	Harris Associates L.P.	Acquired on market	3,675,600.00 AUD	1,000,000 Common Stock	1,000,000
04-Oct-2017	Harris Associates L.P.	Acquired on market	4,990,227.00 AUD	1,354,200 Common Stock	1,354,200
04-Oct-2017	Harris Associates L.P.	Disposed on market	-79,804.56 AUD	-22,200 Common Stock	$-22,200$
16-Mar-2017	Harris Associates Investment Trust	Disposed on market	-1,263,443.49 AUD	-327,733 Common Stock	$-327,733$
16-Mar-2017	Harris Associates Investment Trust	Disposed on market	-191,456.00 AUD	-49,600 Common Stock	$-49,600$
17-Mar-2017	Harris Associates Investment Trust	Disposed on market	-1,386,099.82 AUD	-364,600 Common Stock	$-364,600$
17-Mar-2017	Harris Associates Investment Trust	Disposed on market	-648,411.43 AUD	-170,294 Common Stock	$-170,294$
20-Mar-2017	Harris Associates Investment Trust	Disposed on market	-1,372,412.32 AUD -353,726.79 AUD	-360,062 Common Stock -92,888 Common	$-360,062$ $-92,888$
21-Mar-2017	Harris Associates Investment Trust Harris Associates	Disposed on market Disposed on market	-270,147.78 AUD	Stock -70,812 Common	$-70,812$
21-Mar-2017 21-Apr-2017	Investment Trust Harris Associates	Acquired on market	358,021.94 AUD	Stock 98,382 Common	98,382
21-Apr-2017	Investment Trust Harris Associates	Acquired on market	517,064.32 AUD	Stock 141,580 Common	141,580
24-Apr-2017	Investment Trust Harris Associates	Acquired on market	827 332.59 AUD	Stock 226,344 Common	226,344
26-Apr-2017	Investment Trust Harris Associates	Acquired on market	1,054,827.59 AUD	Stock 283,198 Common	283,198
27-Apr-2017	Investment Trust Harris Associates	Acquired on market	261,702.43 AUD	Stock 69,100 Common	69,100
	Investment Trust			Stock

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
28-Apr-2017	Harris Associates Investment Trust	Acquired on market	290,214.68 AUD	76,300 Common Stock	76,300
01-May-2017	Harris Associates Investment Trust	Acquired on market	369,251.80 AUD	97,696 Common Stock	97,696
03-May-2017	Harris Associates Investment Trust	Acquired on market	3,701,262,18 AUD	1,014,100 Common Stock	1,014,100
17-May-2017	Harris Associates Investment Trust	Acquired on market	759,748.92 AUD	207,576 Common Stock	207,576
17-May-2017	Harris Associates Investment Trust	Acquired on market	567,408.66 AUD	154,700 Common Stock	154,700
17-May-2017	Harris Associates Investment Trust	Acquired on market	2,551,591.67 AUD	695,124 Common Stock	695,124
19-May-2017	Harris Associates Investment Trust	Acquired on market	133,456.68 AUD	37,800 Common Stock	37,800
19-May-2017	Harris Associates Investment Trust	Acquired on market	3,646,367.41 AUD	1,031,300 Common Stock	1,031,300
24-May-2017	Harris Associates Investment Trust	Acquired on market	387,629.55 AUD	111,870 Common Stock	111,870
24-May-2017	Harris Associates Investment Trust	Acquired on market	3,513,138.70 AUD	1,006,630 Common Stock	1,006,630
07-Jun-2017	Harris Associates Investment Trust	Acquired on market	600,708.75 AUD	175,903 Common Stock	175,903
07-Jun-2017	Harris Associates Investment Trust	Acquired on market	1,894,151.88 AUD	553,797 Common Stock	553,797

This is Annexure "A" referred to in the Form 604 "Notice of change of interests of substantial holder"

Signature

E

Harris Associates L.P.

print name	Kim Colwell	capacity	Senior Compliance Officer
sign here	Comme	date	06-Oct-2017

Annexure "B"

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Harris Associates L.P.	Unknown	Harris Associates L.P.	Voting rights and right to dispose	66,066,702 Common Stock	66,066,702
Harris Associates L.P.	Unknown	Harris Associates L.P.	Right to dispose	45,324,004 Common Stock	45,324,004
Harris Associates Investment Trust	Unknown	Harris Associates Investment Trust	Voting rights and right to dispose	66,196,232 Common Stock	66,196,232

This is Annexure "B" referred to in the Form 604 "Notice of change of interests of substantial holder"

Signature

Harris Associates L.P.

Kim Colwell Senior Compliance Officer print name capacity Kim Colwell date 06-Oct-2017 sign here