© Orica Limited Group

Credit Suisse Asian Investment Conference

Hong Kong

18th - 20th March 2013

Ian Smith - Managing Director and CEO

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Slide 1

Disclaimer

Forward looking statementsThis presentation has been prepared by Orica Limited. The information contained in this presentation is for informational purposes only. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. This presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Orica Limited, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied, is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this presentation. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies.

Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance.

Non-IFRS information

This presentation makes reference to certain non-IFRS financial information. Management use this information to measure the operating performance of the business and has been presented as this may be useful for investors. This information has not been reviewed by the Group’s auditor.

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Slide 2

Global Leader in Mining Services

1. World’s largest provider of commercial explosives to mining and infrastructure markets with 28% global market share

2. Global leader in the provision of ground support in mining and tunneling

3. Leading global supplier of cyanide for use in gold extraction

4. Australia and New Zealand’s largest supplier of chemical products to mining, water treatment and other industrial markets

5. ASX listed with market capitalization of approximately A$9.6B (ASX Top 30)

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Australian Base - Global Footprint

~15,000 Employees

Operations in 50 countries

Customers in over 100 countries

Slide 3

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Slide 4

Australian Base - Global Footprint

2012 Mining Services Revenue • 90% of Group EBIT is generated from mining related industries including quarrying and construction

• Broad mining exposure – from coal and iron ore to base and precious metals and diamonds

• Wide geographic spread

• Commodity and geographic diversity reduces earnings volatility

Coal -Thermal, 30%

Coal -Coking, 6%

Iron Ore, 5%

Gold, 16%

Other Metals, 27%

Q&C, 16%

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Slide 5

Attractive Industry Fundamentals

• Long term growth in commodity volumes, driven by industrialisation and urbanisation

• Declining ore grades and increasing strip ratios and ore-body complexity

• Efficiency and productivity focus drives demand for game-changing technology, products and servicesF

or p

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Slide 6

Attractive Industry Fundamentals

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Coal

Iron ore

Lead

Zinc

Aluminium

Copper

Nickel

Change in global demand, 2010 - 2030

Source: ABARES, Deloitte Access Economics – Commissioned by Minerals Council of Australia

Growth in Global Commodity Demand: 2010 - 2030

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Slide 7

Attractive Industry Fundamentals

Sources: Orica, ABARES

0

200

400

600

800

1,000

1,200

1,400

1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010

Ind

ex (

1982 =

100)

Growth in Australia (1982 – 2011)

Ammonium Nitrate DemandCAGR 9.0%

Iron Ore & Minerals Prod. CAGR 5.8%

Coal ProductionCAGR 4.4%

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Slide 8

0

20

40

60

80

100

120

140

160

180

2006 2007 2008 2009 2010 2011

Cyanide Demand

1.2

1.3

1.4

1.5

1.6

1.7

1.8

0

20

40

60

80

100

120

2006 2007 2008 2009 2010 2011

Go

ld P

rod

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dex:

2006=

100)

Gold Production and Ore Grades

Global Gold Production Gold Ore Grade (g/t)

Attractive Industry Fundamentals

1. Thomson Reuters GFMS Mine Production Extract Gold Survey – April 2012

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Slide 9

Se

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Input sourcing

Ba

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ite

d

Dif

fere

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Willing tosource externally

Manufacturing

led model

Differentiated

services led

model

Orica

Competitor

Competitor

Competitor Competitor

Competitor

Competitor

Competitor

Competitor

Drive tomake internally

Strategic Imperatives

Refine the customer value propositionDevelop people capability & competenceStabilise the capital spending programDrive common systems and processesFocus on performance metrics & targetsRenew manufacturing reliability & integrityIntegrate Minova into Mining ServicesSecure low cost & capital efficient supplyBuild multiple reliable customer supply

Strategy

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Slide 10

Initiatives Supporting Strategy

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Slide 11

1. StructureThe new structure; with centralised functional support/services that assist the value chain steps of Research and Development, Manufacturing and Mining Services and Chemicals; will enable Orica to grow without the need to duplicate and replicate functional groups for each individual component of the organisation.

2. Sourcing and Logistics

Through our international network we identify the best and most efficient means by which we not only acquire, produce and develop our products and techniques, but provide cost effective multiple channels of supply to ourselves and our customers.

3. Manufacturing ExcellenceConcentration on consistency and constancy of production through the shared application of maintenance, process control and meeting market demand through integrated planning and demand profiling.

4. Value in UseBy applying products and techniques in unique and tailored platforms we can share in the upside of our customers being better able to utilise their capital and resources.

Complete

Started

Started

Started

Orica’s Ability to Build Margin

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Slide 12

1. & 2. Structure and Sourcing

Ian SmithChief Executive Officer

Andrew Larke Global Head Strategy & Planning

Noel Meehan Chief Financial Officer

Eileen Burnett-Kant Global Head Human Resources

Gavin Jackman Global Head Corporate Affairs

& Social Responsibility

Alison AndrewGlobal Head Chemicals

Craig ElkingtonGlobal Head Mining Services

Tony EdmondstoneGlobal Head Supply

Sean WinstoneManufacturing Executive

Molly ZhangManufacturing Executive

Ron DouglasGlobal Head Projects and Technology

Richard HoggardGlobal Head Manufacturing

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Slide 13

Over 50% of our mining related EBIT is generated within the area shown in the adjacent map.

Security and flexibility of supply is supported by:

1. Four large AN prill plants (post Burrup)

2. Numerous emulsion plants3. Extensive storage capacity &

locations

These supply points also provide options for supporting Africa and South America.

2. Sourcing and Logistics

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Slide 14

A deep dive has been performed into Kooragang Island operations

The same process will be progressively applied to all AN and IS manufacturing sites

• Operational and process improvements identified for the next 12 months

• Plant improvements implemented to reduce the risk of major incidents

Results already achieved include:

• All maintenance measures improving month by month

• Enhanced safety and environmental performance

• Plant production more stable

3. Manufacturing Excellence

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Slide 15

Accounts Won and Lost at Tender

82%

57% 56%

18%

43% 44%

Existing customeraccount

Competitor-heldaccount

Green-field account

October 2011 to September 2012

Lost

Won

99%

58%

74%

1%

42%

26%

Existing customeraccount

Competitor-heldaccount

Green-fieldaccount

October 2012 to February 2013

4. Value in Use

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Slide 16

4. Value in Use

Customer Service / Supply

59%Price / Cost

17%

Product Differentiation

24%

Customer Feedback for Going with Orica

October 2012 - January 2013

Service, supply chain and product differentiation are the most important factors to our customers.

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Slide 17

4. Value in Use

Moving Towards Service Orientated Product Offering

YTD 2013 versus Q4 FY 2012

-28%

22%

6%

-40%

-30%

-20%

-10%

0%

10%

20%

30%

Product

On-site service Advanced blasting service

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Slide 18

Mine Site Conditions for Ongoing Growth in Demand for Explosives

The energy used (% of total site consumption) in completing the following functions on a typical mine

drilling / blasting ~ 2 %

excavation / hauling ~ 10 %

grinding / crushing ~ 53 %

Optimising the use of explosives not only saves total energy consumed on a mine site but improves dig rates leading to decreased excavation times while increasing the throughput of the grinding and crushing equipment; this all leads to

GREATER PRODUCTIVITY

(the following tested examples of value in use reinforce the point)

4. Value in Use

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Slide 19

4. Value in Use

Soft Ore Bond Work Index (BWI) = 15 Hard Ore Bond Work Index (BWI) = 25

4x increase in powder factor results in

• 40% increase in mill throughput

• 33% reduction in mill energy

4x increase in powder factor results in

• 28% increase in mill throughput

• 23% reduction in mill energy

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Slide 20

4. Value in Use

Mines are facing increasingly frequent challenging geological formations

“Through Seam Blasting” provides a solution to these by:

• Increasing the percentage of resource recovered

• Reducing strip ratio

• Providing the ability to selectively mine multiple seams

• Reducing total mining costs per tonne

• Turning previously non-economic resources into economically feasible prospects

Thin & Intermittent Splitting Faulted Dipping

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Slide 21

Projects

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Slide 22

Proven ability to manufacture to nameplate capacity

• Indonesian plant commissioned with capacity of 300 - 330ktpa

• Proven ability to manufacture to nameplate capacity and product quality within specification

• Export licence received which will enable flexibility in the supply chain

Bontang Ammonium Nitrate Plant

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Slide 23

Initial production scheduled for 2013

• Construction is substantially complete with commissioning underway

• Commissioning will occur progressively over the next 12 – 18 months

• Total project cost expected to be within initial AUD estimates

HONCE Initiating Systems

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Slide 24

Miners have reaffirmed iron ore projects which will deliver > 800mtpa by end of 2015

Burrup JV

• NW Iron Ore = geographic & commodity diversification

• Site earthworks and civils underway with late 2015 commissioning

• Unique project & capital structure that reduces capital risk:-

• $110M entry fee

• 45% of project capital

• 100% marketing rights to all AN

• 94% of revenue from sales of AN associated initiating systems and services to Pilbara customers

• 45% of profit from AN sales (inclusive of the 6% revenue contribution from sales of AN associated initiating systems and services)

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2010 2015

15% CAGR

Announced Iron Ore Production

Increases

North West Regions (mtpa)

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Slide 25

Timing is subject to further discussion with customers given market conditions

Kooragang Island Expansion

• Project feasibility work is complete and all statutory planning approvals have been obtained

• An engineering pathway for construction has been confirmed and a detailed technical appraisal has been presented to the Board

• Most long lead items have been ordered

• Discussion with customers will be undertaken to confirm market growth profile

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Slide 26

Full Year 2013 outlook remains unchanged (group net profit after tax, pre individually material items, will be higher than that reported in 2012) subject to global economic conditions, but……..

1. Significant weather impacts on Australian east coast AN volumes for Q2 FY2013 will result in an approximate loss of $10 - $15M

2. Difficult market conditions for underground coal mining has resulted in a reduction of approximately 15% in volumes in most ground support markets around the world coupled with pricing pressure to preserve market share. Reaction to Minova’s market environment has meant :-

– a compression in the integration timetable

– reductions of 10% in the workforce numbers in H1 FY2013

– further reductions in the workforce during H2 FY2013

Current Trading Conditions

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Slide 27

Optimova Integration

The Minova business :-

• Provides a pathway to growth through bundling of solutions to underground customers (a market that currently constitutes less than 15% of Mining Services revenue);

• Good Cash Conversion at around 96%; but

• Needs to be repositioned for integration into the Orica structure.

Project Optimova will be driven by :-

1. Simplification of the business model;

2. Optimisation of manufacturing; and

3. Rationalisation of functional overheads.

Integration into Mining Services & Manufacturing will be in 3 stages :-

• Australasia, Asia and Africa during the 2013 FY (Update = completed H1 FY2013)

• Europe during 2013 and 2014 Fys (Update = will be completed H2 FY2013)

• Americas in FY2014 (Update = will be completed H2 FY2013)

(as previously disclosed as part of the FY2012 full year release in November 2012)

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Slide 28

Profile

• Global market leadership

• Strong manufacturing position

• Attractive industry fundamentals

• Multiple growth opportunities

• Ground breaking technology

Opportunities

• Growth in commodity volumes, driven by industrialisation and urbanisation

• Declining ore grades & increasing strip ratios & ore-body complexity

• Efficiency & productivity focus drives demand for game-changing technology, products and services

Unique Profile and Opportunities

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