• Dyno Nobel signs binding agreement to sell Phosphate Hill to Mayfair
• Transaction secures ongoing employment for ~540 employees and contractors
• Dyno Nobel to provide $125.9m for future rehabilitation and remediation of Phosphate Hill

Dyno Nobel Limited (ASX:DNL) has announced the signing of a binding agreement for the sale of Phosphate Hill to Ryowa II GPS Pty Ltd, a wholly owned subsidiary of Mayfair Australia Corporation Pty Ltd (Mayfair). This transaction, along with the previously completed sale of the Perdaman offtake agreement, marks a significant strategic milestone for Dyno Nobel as the company transforms into a leading global pure-play explosives business. Under the terms of the agreement, Mayfair will assume the economic risk and benefit of Phosphate Hill from 1 April 2026, including all operating cashflows and capital expenditure requirements. Dyno Nobel will provide $125.9m of funding to support the future rehabilitation and remediation of Phosphate Hill, and approximately $80m of inventory at completion to support the continuity of operations. Mayfair will assume responsibility for all operational and environmental liabilities associated with Phosphate Hill from completion, providing Dyno Nobel with a clean separation from the asset. The transaction is expected to complete in Q3 FY26, subject to satisfaction of a limited set of conditions precedent. Dyno Nobel's explosives business has continued to perform strongly during 1H FY26 and remains on track to achieve FY26 EBIT guidance of $460-$500 million. With Mayfair assuming economic risk for Phosphate Hill from 1 April 2026, Dyno Nobel will no longer be providing outlook on the fertiliser business's performance.

Dyno Nobel is well positioned to continue executing on its transformation strategy and delivering further value for its shareholders.