Dyno Nobel obtains Court Approval of Schemes of Arrangement

The Supreme Court of Victoria has today given its approval to the schemes of arrangement between
Dyno Nobel Limited (Dyno Nobel) and its shareholders and optionholders (the Schemes), in relation
to the acquisition of Dyno Nobel by Incitec Pivot US Holdings Pty Limited, a wholly-owned subsidiary
of Incitec Pivot Limited.

It is expected that the Court orders approving the Schemes will be lodged with ASIC on Monday, 2
June 2008 and that trading in Dyno Nobel shares on ASX (code: DXL) will cease from close of trading
on that day.

Share Scheme Participants wishing to participate in Mix and Match under the Share Scheme may still
do so by completing and returning an Election Form so that it is received by the Dyno Nobel Registry
no later than 5.00pm (AEST) on Thursday, 5 June 2008.

Dyno Nobel Optionholders wishing to exercise their Dyno Nobel Options and participate in the Share
Scheme rather than participate in the Option Scheme must ensure that their exercise documentation
is completed and returned to Dyno Nobel in accordance with the terms of the Dyno Nobel ESOP so
that it is received no later than 5.00pm (AEST) on Thursday, 5 June 2008.

Our ASX release of 22 May 2008 (“Dyno Nobel Shareholders and Optionholders Approve Schemes of
Arrangement”) sets out the indicative timetable for the remainder of the steps to implement the

Further details in relation to the Schemes and their implementation are set out in the Scheme Booklet
dated 18 April 2008 (which is available at www.dynonobel.com) (Scheme Booklet). Unless
otherwise specified, capitalised terms in this announcement have the same meaning as in the
Scheme Booklet.

For media enquires contact Sonja Kukec, Dyno Nobel on 0437 766 483.