• Completion of Fertilisers Distribution business sale to Ridley Corporation
• Strategic review of Fertilisers Manufacturing operations with Geelong closure, St Helens sale, and Phosphate Hill sale process
• Strong FY25 performance expected across Explosives and Fertilisers businesses

Dyno Nobel Limited (ASX:DNL) today announces the completion of the sale of the Fertilisers Distribution business to Ridley Corporation Limited (ASX:RIC), an update regarding the sale of the Gibson Island land, and the outcomes of the Fertilisers manufacturing strategic review. The Company also provides an update on new business opportunities in the US focusing on developing and supplying energetics for broad industry use across both the resources and defence sectors. The Group is expected to deliver a strong underlying EBIT result in FY25. The Explosives business has made considerable progress on its strategy, with the transformation program continuing to deliver on expectations. The Fertilisers business has benefitted from significant commodity price tailwinds which will drive headline performance in FY25. The previously announced sale of the Incitec Pivot Fertilisers Distribution business to Ridley Corporation has completed, with upfront proceeds of $381 million received. The sale of the Gibson Island land to a subsidiary of an ASX-listed property developer and owner is expected to complete in the coming weeks. Dyno Nobel has completed its strategic review of Fertilisers Manufacturing, with the closure of manufacturing operations at Geelong, the sale of the St Helens, Oregon facility, and the ongoing sale process for the Phosphate Hill asset. The Group EBIT is expected to be in the range of $695 million to $715 million for FY25, with the Explosives business expected to deliver EBIT of $405 million to $413 million, and the Fertilisers business expected to deliver EBIT of $225 million to $235 million.

Group EBIT expected to be in the range of $695 million to $715 million for FY25. Explosives EBIT (incl. Ag & IC) after corporate costs expected to be in the range of $405 million to $413 million for FY25. Fertilisers EBIT expected to be in the range of $225 million to $235 million for FY25.

Dyno Nobel has partnered with US-based industrial manufacturer REPKON USA Holdings, Inc. to construct a new Trinitrotoluene (TNT) manufacturing facility in the US, which is expected to commence production in late 2027. Dyno Nobel and Repkon have also signed a letter of intent to form a joint venture focused on developing and supplying energetics for broad industry use across both the resources and defence sectors.