Slide 1: 2026 Half Year Results
2026 HALF YEAR rsonal use only RESULTS Presenters SANJEEV GANDHI Managing Director and CEO JAMES CROUGH Chief Financial Officer 7 May 2026 Authorised for release to the ASX by the Managing Director and CEO of Orica Limited
Slide 2: Disclaimer
DISCLAIMER SUMMARY INFORMATION This presentation contains summary information about Orica Limited (Orica) and Orica's activities as at the date of this presentation. It is information given in summary form only and does not purport to be complete. It should be read in conjunction with Orica’s other
Slide 3: 2026 Half Year in Review
rsonal use only 2026 HALF YEAR IN REVIEW Sanjeev Gandhi Managing Director & CEO 2026 HALF YEAR RESULTS 3
Slide 4: Safeguarding Our People, Environment and Partners
2026 HALF YEAR IN REVIEW LB / FH providing refined messages VDC to provide updated design SAFEGUARDING OUR PEOPLE, ENVIRONMENT AND PARTNERS rsonal use only FOCUS AREAS AND PRIORITIES • An employee fatality occurred during the period; investigation completed and critical learnings being implemented a
Slide 5: Strong First Half Performance
2026 HALF YEAR IN REVIEW STRONG FIRST HALF PERFORMANCE STRATEGIC INITIATIVES TO SUPPORT LONG-TERM GROWTH rsonal use only EBIT EPS PRE SI RONA $512m 60.7cps 14.7% 1H2025: $488m 1H2025: 54.0cps 1H 2025: 13.1% NPAT PRE SI DPS LEVERAGE $283m 28.5cps 1.53X 1H2025: $263m 1H2025: 25.0cps 30 Sep 2025: 1.
Slide 6: Strong Underlying Performance Across All Segments and Regions
2026 HALF YEAR IN REVIEW STRONG UNDERLYING PERFORMANCE ACROSS ALL SEGMENTS AND REGIONS AUSTRALIA NORTH EUROPE, MIDDLE LATIN PACIFIC & ASIA AMERICA EAST & AFRICA AMERICA EBIT $332m ■ 0% EBIT $113m ▲18% EBIT $51m ▲3% EBIT $47m ▲1% rsonal use only • EBIT up 4% excluding $15m • Strong demand for premium
Slide 7: Strong Adoption of Premium Products and Blasting Technology
2026 HALF YEAR IN REVIEW STRONG ADOPTION OF PREMIUM PRODUCTS AND BLASTING TECHNOLOGY rsonal use only EBIT ($m) Regional earnings performance Performance of the core business remains strong, supported by Australia Pacific North America demand for premium products, adoption of advanced blasting 15 tec
Slide 8: Strategic Actions Position North America for Sustainable Growth
2026 HALF YEAR IN REVIEW STRATEGIC ACTIONS POSITION NORTH AMERICA FOR SUSTAINABLE GROWTH rsonal use only ACQUISITION OF NELSON BROTHERS’ EXPLOSIVES BUSINESS NORTH AMERICA CONTEXT Orica has entered into an agreement to acquire Strategically located assets • Orica now well positioned to operate direct
Slide 9: Strong Customer Adoption and Earnings Growth
2026 HALF YEAR IN REVIEW STRONG CUSTOMER ADOPTION AND EARNINGS GROWTH rsonal use only EBIT ($m) Exit Annual Recurring Revenue1 ($m) Strong earnings growth underpinned by increased adoption, recurring revenue and margin expansion 25% +11% Revenue growth and EBITDA margin exceeding Rule of 40 performa
Slide 10: Delivering Across Core Growth Drivers and Priorities
2026 HALF YEAR IN REVIEW DELIVERING ACROSS CORE GROWTH DRIVERS AND PRIORITIES rsonal use only A SCALABLE TECHNOLOGY & SOFTWARE REALISING CROSS-SELLING SYNERGIES DEVELOPMENT OF NEXTGEN SOLUTIONS BUSINESS UNDERPINNED BY GROWING WITH RUNWAY FOR FUTURE GROWTH TO SUSTAIN MOMENTUM RECURRING REVENUE Annual
Slide 11: Strong Sodium Cyanide Demand in a Robust Gold Sector
2026 HALF YEAR IN REVIEW STRONG SODIUM CYANIDE DEMAND IN A ROBUST GOLD SECTOR rsonal use only EBIT ($m) Strong sales performance and reliable production and logistics • Execution excellence capturing growth from strong gold fundamentals 20% • Earnings ahead of medium-term growth rate forecast despit
Slide 12: Expansion Into Specialist Copper and Zinc Flotation Chemistry
2026 HALF YEAR IN REVIEW EXPANSION INTO SPECIALIST COPPER AND ZINC FLOTATION CHEMISTRY rsonal use only DANAFLOAT ACQUISITION INHOUSE OPTIORE RANGE Danafloat expands Orica’s portfolio into copper Danafloat is complementary to Orica's and zinc processing chemistry. The specialist proprietary OptiOre r
Slide 13: Financial Performance
rsonal use only FINANCIAL PERFORMANCE James Crough Chief Financial Officer 2026 HALF YEAR RESULTS 13
Slide 14: Continued Improvement Across Key Financial Indicators
FINANCIAL PERFORMANCE CONTINUED IMPROVEMENT ACROSS KEY FINANCIAL INDICATORS rsonal use only Half year ended 31 March ($m) 2026 2025 Change Sales revenue 3,884 3,941 (1%) ▼ EBITDA1 761 732 4% ▲ EBIT 512 488 5% ▲ NPAT pre significant items 283 263 8% ▲ Individually significant items after tax2 (284) (
Slide 15: Successfully Deploying Our Capital Management Framework
FINANCIAL PERFORMANCE SUCCESSFULLY DEPLOYING OUR CAPITAL MANAGEMENT FRAMEWORK Resilient through-cycle operating performance Operating Efficiency & Capital Productivity - Strong Cash Generation - Asset Efficiency - Working Capital Efficiency rsonal use only Net Operating Cash Flow Prioritised capital
Slide 16: Consistent Growth Driven by Strategic Execution
FINANCIAL PERFORMANCE CONSISTENT GROWTH DRIVEN BY STRATEGIC EXECUTION EBIT1 NPAT PRE-SI2 NET OPERATING CASHFLOW $m $m $m 488 512 283 245 231 263 190 rsonal use only 354 179 1H2024 1H2025 1H2026 1H2024 1H2025 1H2026 1H2024 1H2025 1H2026 RONA3 EPS PRE-SI4 DIVIDEND 14.7% cps 60.7 cps 54.0 28.5 13.0% 13
Slide 17: Premium Products, Advanced Technology and Commercial Discipline Delivering Consistent Growth
FINANCIAL PERFORMANCE PREMIUM PRODUCTS, ADVANCED TECHNOLOGY AND COMMERCIAL DISCIPLINE DELIVERING CONSISTENT GROWTH 1H2025 TO 1H2026 EBIT ($m) rsonal use only VOLUME, MIX & MARGIN 3 512 5 5 11 488 24 (10) (15) 1H2025 EBIT FX on translation 1H2025 Blasting Digital Solutions Specialty Mining Manufactur
Slide 18: Trade Working Capital Remains a Key Focus
FINANCIAL PERFORMANCE TRADE WORKING CAPITAL REMAINS A KEY FOCUS TRADE WORKING CAPITAL ($m) TOTAL CYCLE DAYS1 DAYS INVENTORY HELD1 rsonal use only 683 63 64 63 65 65 25 677 60 58 58 (31) 1H2024 1H2025 2025 1H2026 1H2024 1H2025 2025 1H2026 DAYS SALES DAYS PAYABLES OUTSTANDING1 OUTSTANDING1 49 50 51 51
Slide 19: Disciplined Capital Expenditure Supporting Growth
FINANCIAL PERFORMANCE DISCIPLINED CAPITAL EXPENDITURE SUPPORTING GROWTH rsonal use only CAPITAL EXPENDITURE CAPITAL EXPENDITURE ($m) SUSTENANCE • Continued investment across Orica’s manufacturing network, supporting 167 165 safe and reliable production, including planned safety upgrades at the 1 Win
Slide 20: Strong Balance Sheet and Prudent Debt Profile
FINANCIAL PERFORMANCE STRONG BALANCE SHEET AND PRUDENT DEBT PROFILE COMMITTED DEBT FACILITY MATURITY PROFILE ($m) AVAILABLE LIQUIDITY ($m) rsonal use only 2,367 2,389 Undrawn committed Average tenor at March 2026 – 4.7 years (drawn debt: 5.2 years) 1,920 facilities 1,000 1,620 1,620 Cash and cash 1,
Slide 21: Cost Reduction Program of at Least $100M Underway
FINANCIAL PERFORMANCE COST REDUCTION PROGRAM OF AT LEAST $100M UNDERWAY TO POSITION THE COMPANY FOR SUSTAINED PROFITABLE GROWTH rsonal use only OPERATING MARGIN AND STRUCTURAL AND OVERHEAD COST-TO-SERVE PROCUREMENT INITIATIVES REDUCTIONS IMPROVEMENTS Structural changes to reflect Orica’s current Foo
Slide 22: Consistently Delivering Increased Shareholder Returns
FINANCIAL PERFORMANCE CONSISTENTLY DELIVERING INCREASED SHAREHOLDER RETURNS rsonal use only • 14% increase in interim dividend declared DIVIDEND PER ORDINARY SHARE (CPS) & DIVIDEND PAYOUT RATIO1 (%) • Orica’s dividend payout ratio policy unchanged at 40%-70% 57.0c 50% • Total dividend paid each year
Slide 23: Our Strategy in Action
rsonal use only OUR STRATEGY IN ACTION Sanjeev Gandhi Managing Director & CEO 2026 HALF YEAR RESULTS 23
Slide 24: Successfully Executing Our Strategy
OUR STRATEGY IN ACTION SUCCESSFULLY EXECUTING OUR STRATEGY rsonal use only 2026 HALF YEAR RESULTS 24
Slide 25: Key Growth Drivers and Priorities
OUR STRATEGY IN ACTION KEY GROWTH DRIVERS AND PRIORITIES STRONG FUNDAMENTALS IN CORE MARKETS – GOLD AND COPPER REVENUE BY COMMODITY1 (%) CONTINUE TO GROW CORE DRIVE UPTAKE, ENHANCING DEPLOY NEW TECHNOLOGY AND rsonal use only BLASTING BUSINESS ADOPTION AND CROSS-SELLING EXPAND SPECIALIST OFFERINGS Un
Slide 26: Continued Progress on Strategic Targets
OUR STRATEGY IN ACTION CONTINUED PROGRESS ON STRATEGIC TARGETS STRATEGIC 1H2026 FINANCIAL 2026 scorecard 2026+ TARGETS progress TARGETS and progress scorecard 3-year average RONA 13.5%-15.5% rsonal use only Pursue organic growth from the core Dividend payout ratio 40%-70% Accelerate adoption of inno
Slide 27: Outlook
rsonal use only OUTLOOK Sanjeev Gandhi Managing Director & CEO 2026 HALF YEAR RESULTS 27
Slide 28: Continued Momentum and Increased Shareholder Value
OUTLOOK CONTINUED MOMENTUM AND INCREASED SHAREHOLDER VALUE OUTLOOK1 rsonal use only Full year underlying EBIT is expected to increase across all segments and all regions versus the prior period, subject to no new unforeseen factors impacting the business given the very volatile external environment
Slide 29: Closing
rsonal use only CLOSING 2026 HALF YEAR RESULTS 29
Slide 30: Summary
SUMMARY CLOSING Record first half performance, quality of earnings and margin improvement rsonal use only demonstrating commercial discipline 1 2 Strategic progress in the US Q&C market and copper processing chemistry CLOSING MESSAGES 3 Positive outlook with a global manufacturing and supply network
Slide 31: Supplementary Information
rsonal use only SUPPLEMENTARY INFORMATION 2026 HALF YEAR RESULTS 31
Slide 32: Scheduled Continuous Manufacturing Plant Maintenance
SUPPLEMENTARY INFORMATION SCHEDULED CONTINUOUS MANUFACTURING PLANT MAINTENANCE AN assets Cyanide assets 2026 and 2027 scheduled maintenance and turnaround schedule1 rsonal use only 1H2026 2H2026 1H2027 2H2027 Kooragang Island (NSW) Yarwun (QLD) Burrup (WA) Bontang (Indonesia) Carseland (Canada) Winn
Slide 33: Debt
SUPPLEMENTARY INFORMATION DEBT rsonal use only MOVEMENT IN NET DEBT1 ($m) 338 2,234 2,159 (75) 1,922 205 (231) Net debt Net Net Net Sub-total Foreign Net debt 30 Sep 2025 operating investing financing exchange 31 Mar 2026 (exc. leases) cashflows cashflows cashflows translation (exc. leases) 1. Exclu
Slide 34: Major Trading Currencies
SUPPLEMENTARY INFORMATION MAJOR TRADING CURRENCIES rsonal use only ORICA TRADES IN 36 DIFFERENT CURRENCIES WHICH ARE TRANSLATED TO AUSTRALIAN DOLLAR (AUD) EARNINGS Key currency movements 1H2026 1H2025 31 Mar 2026 31 Mar 2025 30 Sep 2025 Currency Average rates Spot rates USD – US Dollar1 0.6758 0.639
Slide 35: Significant Items
SUPPLEMENTARY INFORMATION SIGNIFICANT ITEMS rsonal use only Gross Net Half year ended 31 March 2026 ($m) (before tax) (after tax) Litigation costs and outcomes (274.6) (257.1) CF supply disruption (17.4) (15.7) Restructuring costs (15.0) (10.9) Individually significant items attributable to sharehol
Slide 36: Non-IFRS Reconciliations
SUPPLEMENTARY INFORMATION NON-IFRS RECONCILIATIONS rsonal use only Half year ended 31 March ($m) 2026 2025 Change 1 Statutory net profit / (loss) after tax (0.6) (89.0) 88.4 Less Individually significant items after tax1 283.7 352.0 (68.3) Underlying net profit after tax1 283.1 263.0 20.1 Adjust for
Slide 37: Definitions
DEFINITIONS Term Definition AN Includes ammonium nitrate prill and solution as well as emulsion products including bulk emulsion and packaged emulsion Annual Recurring Revenue (ARR) Recurring contracts including product leasing, software as a service, monitoring services and care plans CAGR Compound
Slide 38: Contact
rsonal use only Contact: Natalie Worley Vice President - Investor Relations M: +61 409 210 462 E: natalie.worley@orica.com 2026 HALF YEAR RESULTS 38