Orica Limited · ASX:ORI
Orica — FY2025 Earnings Presentation
40 slides from Orica's earnings presentation, Nov 13, 2025
Slide 1: 2025 Full Year Results
2025 FULL YEAR RESULTS Presenters SANJEEV GANDHI Managing Director and CEO JAMES CROUGH Chief Financial Officer 13 November 2025 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: Orica at a Glance
ORICA AT A GLANCE WHAT DOES OUR ORICA COMPETITIVE DO ADVANTAGE One of the world’s Market leading leading mining and innovation infrastructure providing solutions providers differentiated and Supported by superior products megatrends such as and solutions the energy transition Vertically and increasi
Slide 4: 2025 Full Year in Review
2025 FULL YEAR IN REVIEW Sanjeev Gandhi Managing Director & CEO 2025 FULL YEAR RESULTS 4
Slide 5: Safeguarding our People, Environment and Partners
2025 YEAR IN REVIEW SAFEGUARDING OUR PEOPLE, ENVIRONMENT AND PARTNERS SAFE AND RESPONSIBLE BUSINESS ZERO 0.093 14 Fatalities SICR1 Loss of containment events2 2024: 1 2024: 0.117 2024: 17 PEOPLE AND COMMUNITY 33.3% $16.7m Women in senior Community investment leadership3 2021–2025 2024: 33.7% Target:
Slide 6: We Are on Track to Meet Our De-carbonisation Targets
2025 YEAR IN REVIEW WE ARE ON TRACK TO MEET OUR DE-CARBONISATION TARGETS Scope 1 and 2 Scope 2 Scope 3 Net scope 1 and 2 Renewable Scope 3 emissions targets electricity ambition Our targets and ambition 30% 45% 60% 100% 25% reduction reduction by 20302 by 20402 reduction AMBITION TO by FY20261 by FY
Slide 7: Highest Earnings in 13 Years: Successfully Executing Our Strategy
2025 YEAR IN REVIEW HIGHEST EARNINGS IN 13 YEARS SUCCESSFULLY EXECUTING OUR STRATEGY EBIT1,2 NPAT PRE-SI1,3 NET OPERATING CASHFLOW1 $m $m $m +12% CAGR Continued earnings growth +25% CAGR +29% CAGR • Premium products and solutions • Increased exposure to robust gold and copper market fundamentals 992
Slide 8: Sustained Earnings Growth Across All Segments and All Regions
2025 YEAR IN REVIEW SUSTAINED EARNINGS GROWTH ACROSS ALL SEGMENTS AND ALL REGIONS AUSTRALIA NORTH EUROPE, MIDDLE LATIN PACIFIC & ASIA AMERICA EAST & AFRICA AMERICA EBIT $658m 23% EBIT $212m 15% EBIT $101m 18% EBIT $90 m 4% • Sustained earnings growth from • Demand for premium products • Increased de
Slide 9: Premium Products and Blasting Technology Driving Growth
2025 YEAR IN REVIEW PREMIUM PRODUCTS AND BLASTING TECHNOLOGY DRIVING GROWTH EBIT ($m) Premium solutions1 Core business remains strong, driven by premium product demand, Volume growth CAGR (units) +15% advanced blasting technology adoption, and ongoing commercial discipline >20% • Improved mix and ma
Slide 10: Accelerating Customer Adoption and Recurring Revenue Growth
2025 YEAR IN REVIEW ACCELERATING CUSTOMER ADOPTION AND RECURRING REVENUE GROWTH EBIT ($m) Annual Recurring Revenue1,2 (%) Accelerating adoption and recurring revenue driving sustained long-term business momentum +32% Orebody Intelligence: • Improved exploration activity driving demand for Axis produ
Slide 11: Growing Addressable Market and Increasing Market Penetration
2025 YEAR IN REVIEW GROWING ADDRESSABLE MARKET AND INCREASING MARKET PENETRATION TOTAL ADDRESSABLE MARKET1,2 ($bn) DIGITAL SOLUTIONS REVENUE2 ($m) +39% CAGR +30% CAGR 2.5 358 2023 2024 2025 2023 2024 2025 AXIS TERRA INSIGHTS FIRST YEAR POST- ACQUIRED ACQUIRED ACQUISITIONS Robust market fundamentals
Slide 12: Robust Gold Fundamentals Driving Demand
2025 YEAR IN REVIEW ROBUST GOLD FUNDAMENTALS DRIVING DEMAND EBIT ($m) Earnings uplift reflecting strong sodium cyanide demand and improved manufacturing performance +47% • Record high gold prices supporting significant sodium cyanide demand • Strong sodium cyanide sales supported by new customer win
Slide 13: Financial Performance
FINANCIAL PERFORMANCE James Crough Chief Financial Officer 2025 FULL YEAR RESULTS 13
Slide 14: Continued Improvement Across Key Financial Indicators
FINANCIAL PERFORMANCE CONTINUED IMPROVEMENT ACROSS KEY FINANCIAL INDICATORS REFLECTING SUCCESSFUL EXECUTION OF OUR STRATEGY Full year ended 30 September ($m) 2025 2024 Change Sales revenue 8,145 7,663 6% EBITDA1 1,491 1,238 20% EBIT 992 806 23% NPAT pre significant items 541 409 32% Individually sig
Slide 15: Orica's Capital Management Framework
FINANCIAL PERFORMANCE ORICA’S CAPITAL MANAGEMENT FRAMEWORK Resilient through-cycle operating performance Operating Efficiency & Capital Productivity - Strong Cash Generation - Asset Efficiency - Working Capital Efficiency Net Operating Cash Flow Prioritised capital allocation for Sustainability capi
Slide 16: Delivering Strong EBIT Growth Through Innovation and Disciplined Execution
FINANCIAL PERFORMANCE DELIVERING STRONG EBIT GROWTH THROUGH INNOVATION, PREMIUM PRODUCTS AND DISCIPLINED EXECUTION 2024 TO 2025 EBIT ($m) 20 992 VOLUME, MIX & MARGIN 36 23 23 81 806 3 2024 FX on translation Blasting Digital Specialty Manufacturing Global 2025 EBIT Solutions Solutions Mining Support
Slide 17: Trade Working Capital Remains a Key Focus
FINANCIAL PERFORMANCE TRADE WORKING CAPITAL REMAINS A KEY FOCUS TRADE WORKING CAPITAL ($m) TOTAL CYCLE DAYS1 DAYS INVENTORY HELD1 64 64 65 63 60 60 30 620 (14) 2023 2024 2025 2023 2024 2025 604 DAYS SALES OUTSTANDING1 DAYS PAYABLES OUTSTANDING1 52 52 51 46 46 49 30 Sep Foreign Underlying 30 Sep 2024
Slide 18: Disciplined Capital Allocation
FINANCIAL PERFORMANCE DISCIPLINED CAPITAL ALLOCATION CAPITAL EXPENDITURE SUSTENANCE CAPITAL EXPENDITURE ($m) • Successful completion of turnaround events at Carseland, Kooragang Island and Winnemucca in 1H2025, with investment in safety and 456 460 2 operational upgrades at Winnemucca and Alvin comp
Slide 19: Prudent Financial Profile
FINANCIAL PERFORMANCE PRUDENT FINANCIAL PROFILE COMMITTED DEBT FACILITY MATURITY PROFILE ($m) AVAILABLE LIQUIDITY ($m) 2,619 Average tenor at September 2025 – 4.5 years (drawn debt: 5.5 years) 2,367 Undrawn committed 1,973 facilities 1,000 1,467 1,620 Cash and cash 1,392 equivalents 800 1,152 581 74
Slide 20: Consistently Delivering Increased Shareholder Returns
FINANCIAL PERFORMANCE CONSISTENTLY DELIVERING INCREASED SHAREHOLDER RETURNS DIVIDEND PER ORDINARY SHARE (cps) & DIVIDEND PAYOUT RATIO1 (%) • 21% increase in full year dividend 57.0c • Orica’s dividend payout ratio policy unchanged at 50% 40%-70% 47.0c • Total dividend paid each year weighted towards
Slide 21: Our Strategy in Action
OUR STRATEGY IN ACTION Sanjeev Gandhi Managing Director & CEO 2025 FULL YEAR RESULTS 21
Slide 22: Successfully Executing Our Strategy
OUR STRATEGY IN ACTION SUCCESSFULLY EXECUTING OUR STRATEGY 2025 FULL YEAR RESULTS 22
Slide 23: Key Growth Drivers and Priorities
OUR STRATEGY IN ACTION KEY GROWTH DRIVERS AND PRIORITIES STRONG FUNDAMENTALS IN CORE MARKETS CONTINUE TO GROW CORE DRIVE UPTAKE, ENHANCING DEPLOY NEW TECHNOLOGY – GOLD AND COPPER BLASTING BUSINESS ADOPTION AND CROSS- AND EXPAND SPECIALIST SELLING OFFERINGS REVENUE BY COMMODITY1 (%) Unique blasting p
Slide 24: Continued Progress on Strategic Targets
OUR STRATEGY IN ACTION CONTINUED PROGRESS ON STRATEGIC TARGETS STRATEGIC 2025 FINANCIAL 2025 scorecard and 2026+ TARGETS progress TARGETS progress scorecard 3-year average RONA 13.5%-15.5% Pursue organic growth from the core Dividend payout ratio 40%-70% Annual capital expenditure $440-470m Accelera
Slide 25: Outlook
OUTLOOK Sanjeev Gandhi Managing Director & CEO 2025 FULL YEAR RESULTS 25
Slide 26: Sustained Momentum Delivering Increased Shareholder Value: 2026 Outlook
OUTLOOK SUSTAINED MOMENTUM DELIVERING INCREASED SHAREHOLDER VALUE 2026 OUTLOOK1 EBIT growth expected across all segments: • Blasting Solutions: earnings growth supported by improved mix and margin, commercial discipline and re-contracting benefits, partly offset by lower demand in Indonesia and the
Slide 27: Sustained Momentum Delivering Increased Shareholder Value: Beyond 2026
OUTLOOK SUSTAINED MOMENTUM DELIVERING INCREASED SHAREHOLDER VALUE LOOKING BEYOND 20261 Underlying EBIT growth in the medium term2: Accelerating shareholder value: • Blasting Solutions: projected to deliver ‘GDP plus’ EBIT growth through • Return on net assets (RONA): deliver three-year average RONA
Slide 28: Supplementary Information
SUPPLEMENTARY INFORMATION 2025 FULL YEAR RESULTS 28
Slide 29: Australia Pacific & Asia
SUPPLEMENTARY INFORMATION AUSTRALIA PACIFIC & ASIA Blasting Solutions Continued earnings growth supported by significant demand for value-added products and improved mix and margin, offsetting lower Indonesian thermal coal demand EBIT ($m) Margin expansion due to successful re-contracting and full-c
Slide 30: North America
SUPPLEMENTARY INFORMATION NORTH AMERICA Blasting Solutions Earnings growth driven by continued demand for premium products and services and adoption of technology-enabled blasting solutions, including WebGen EBIT ($m) Reduced US thermal coal demand and quarry and construction activity remained subdu
Slide 31: Europe, Middle East & Africa
SUPPLEMENTARY INFORMATION EUROPE, MIDDLE EAST & AFRICA Blasting Solutions Increased demand for advanced solutions in underground mining and increased construction and mining activity Expansion in key emerging markets strengthened regional performance EBIT ($m) Continued commercial discipline and str
Slide 32: Latin America
SUPPLEMENTARY INFORMATION LATIN AMERICA Blasting Solutions Accelerated growth in high-margin products and strong adoption of technology across the region, including increased uptake of WebGen and 4D EBIT ($m) New contract wins in a competitive market Operational improvements and portfolio adjustment
Slide 33: Blasting Solutions Performance by Region
SUPPLEMENTARY INFORMATION BLASTING SOLUTIONS PERFORMANCE BY REGION External Sales2 2025 2024 SALES VOLUMES - AN TONNES (‘000) 3,076.8 2,926.8 Australia Pacific & Asia BLASTING SOLUTIONS APA1 NORTH AMERICA North America 1,683.1 1,629.7 1,889 1,758 1,036 1,012 Europe, Middle East & Africa 998.9 941.3
Slide 34: Scheduled Continuous Manufacturing Plant Maintenance
SUPPLEMENTARY INFORMATION SCHEDULED CONTINUOUS MANUFACTURING PLANT MAINTENANCE AN assets Cyanide assets 2026 and 2027 scheduled maintenance and turnaround schedule1 1H2026 2H2026 1H2027 2H2027 Kooragang Island (NSW) Yarwun (QLD) Burrup (WA) Bontang (Indonesia) Carseland (Canada) Winnemucca (USA) Alv
Slide 35: Debt
SUPPLEMENTARY INFORMATION DEBT MOVEMENT IN NET DEBT1 ($m) 84 1,922 772 1,838 1,618 397 (949) Net debt Net Net Net Sub-total Foreign Net debt 30 Sep 2024 operating investing financing exchange 30 Sep 2025 (exc. leases) cashflows cashflows cashflows translation (exc. leases) 1. Excludes the impact of
Slide 36: Major Trading Currencies
SUPPLEMENTARY INFORMATION MAJOR TRADING CURRENCIES ORICA TRADES IN 37 DIFFERENT CURRENCIES WHICH ARE TRANSLATED TO AUSTRALIAN DOLLAR (AUD) EARNINGS Key currency movements 2025 2024 30 Sep 2025 30 Sep 2024 Currency Average rates Spot rates USD – US Dollar 0.6437 0.6596 0.6577 0.6915 MXN – Mexican Pes
Slide 37: Significant Items
SUPPLEMENTARY INFORMATION SIGNIFICANT ITEMS Gross Net Full year ended 30 September 2025 ($m) (before tax) (after tax) Latin America impairment and restructuring costs (308.3) (329.4) Litigation costs (50.5) (39.0) EMEA restructuring costs (6.4) (10.4) Individually significant items attributable to s
Slide 38: Non-IFRS Reconciliations
SUPPLEMENTARY INFORMATION NON-IFRS RECONCILIATIONS Full year ended 30 September 2025 ($m) 2025 2024 Change 1 Statutory net profit / (loss) after tax 162.3 524.6 (362.3) Less Individually significant items after tax1 378.8 (115.2) 494.0 Underlying net profit after tax1 541.1 409.4 131.7 Adjust for th
Slide 39: 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 40: Contact
Contact: Delphine Cassidy Chief Communications Officer M: +61 419 163 467 E: delphine.cassidy@orica.com 2025 FULL YEAR RESULTS 40