ORICA LIMITED — Capital/Financing Update 2012

May 20, 2012

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Orica Limited ABN 24 004 145 868

ASX Announcement

BURRUP AMMONIUM NITRATE PLANT TO PROCEED

Orica Limited announced today that it has agreed to form a joint venture with Yara and Apache to build a 330,000 tonnes per annum industrial grade ammonium nitrate plant on the Burrup peninsula. Construction of the plant is expected to have a capital cost of approximately US$800 million and be completed by the end of 2015. Spanish construction company Tecnicas Reunidas will be appointed as the Engineering, Procurement and Construction contractor under a fixed price, turn key contract.

The joint venture will be owned 45% (Orica), 45% (Yara) and 10% (Apache). Yara will manage construction and ongoing operation of the ammonium nitrate plant.

The parties have also agreed to form a distribution and marketing joint venture to distribute all ammonium nitrate and associated products and services to mining customers in the Pilbara. This joint venture will be owned in the same proportions as the ammonium nitrate plant joint venture, but will be managed by Orica.

In addition to its share of the construction cost, Orica will also pay approximately US$110 million, to be split between Yara and Apache, payable upon commencement of construction.

Commenting on the transaction, Orica’s Managing Director and CEO Ian Smith said “this is an extremely important project for Orica. Together with our partners, we have a clear vision for servicing the fast growing Pilbara iron ore market, which is being strongly embraced by our customers in the region”.

Demand for industrial grade ammonium nitrate in the Pilbara is expected to exceed 10% per annum over the medium term.

21 May 2012

• Analysts’ Contact: Anita James, Investor Relations Manager, +61 3 9665 7844 Mobile: +61 416 211 498

• Media Contact: Nicole Ekert, Communications Manager, +61 3 9665 7538

• Media Hotline: +61 3 9665 7277

• Web site : www.orica.com