ORICA LIMITED — Capital/Financing Update 2012

May 20, 2012

==> picture [159 x 51] intentionally omitted <==

Burrup AN Plant

==> picture [780 x 99] intentionally omitted <==

Transaction Summary

• Orica, Yara and Apache have entered joint venture arrangements to:

• build a 330,000 tpa AN plant on Burrup Peninsula

• market and distribute explosives products and services to customers in the Pilbara region

• Compelling strategic rationale

• Strong customer support for AN plant located close to Pilbara

• Capital cost ~US$800 million* (Orica’s share is 45%)

• Orica to pay Yara and Apache additional ~$US110m upon commencement of construction

• Financial returns projected to be in excess of Orica’s strict financial return criteria

• Funded from existing debt facilities

• Commitment to BBB+ S&P credit rating

==> picture [109 x 35] intentionally omitted <==

• Excluding capitalised interest

Page 1

Summary of JV Arrangements

Yara is Manager

Orica is Manager

==> picture [744 x 173] intentionally omitted <==

----- Start of picture text -----

Full
NH3 AN explosives
Orica Mining offering Pilbara
Ammonia
AN Plant Services – Mining
Plant
Pilbara Customers
(Yara 51%; Apache 49%) (Orica 45%) (Orica 45%)
----- End of picture text -----

==> picture [195 x 87] intentionally omitted <==

----- Start of picture text -----

Other Orica explosives
products & services
----- End of picture text -----

==> picture [780 x 55] intentionally omitted <==

Page 2

Rationale

• High growth AN market linked to increased iron ore volumes (> 10% CAGR 2010 – 2020)

• Key customers positioned low on global cost curve

• Commodity diversification for Orica into iron ore

• Enables full service offering to Pilbara customers

• Local AN plant critical to realisation of customers’ strong growth plans

• Freight and ammonia supply advantages

• Significant reduction in road freight into the region

• Customer support for AN plant located close to Pilbara

==> picture [780 x 55] intentionally omitted <==

Page 3

Burrup plant located close to high growth iron ore mines

==> picture [702 x 345] intentionally omitted <==

----- Start of picture text -----

Announced capacity increases in the north west region (mtpa)
Broome
Burrup AN Plant >10% CAGR
1,100
Pilbara 888
Western Australia
400
Kwinana 2010 2015 2020
----- End of picture text -----

==> picture [780 x 55] intentionally omitted <==

Page 4

AN Plant Summary

• Joint venture to build and operate 330,000 tpa AN plant in the Pilbara

• Joint venture interests

• Orica 45% - Yara 45% - Apache 10%

• Joint venture company is called Burrup Nitrates Pty Ltd

• Capital cost ~US$800m* (Orica’s share 45%)

• includes fixed price EPC component with leading Spanish construction company Tecnicas Reunidas

• Yara will manage construction and ongoing operation of the AN plant

• Commissioning expected ~ end 2015

• Secure supply of ammonia and site services

• Expansion opportunities into the future

==> picture [109 x 35] intentionally omitted <==

• Excluding capitalised interest

Page 5

Sales and Distribution

• Joint venture to market and distribute full range of explosives products and services to customers in the Pilbara

• Joint venture interests

• Orica 45% - Yara 45% - Apache 10%

• Joint venture company is called Orica Mining Services Pilbara Pty Ltd

• Orica will manage Orica Mining Services Pilbara

• Customer commitments well advanced (confidentiality restrictions)

==> picture [780 x 55] intentionally omitted <==

Page 6