COCHLEAR LIMITED — Audit Report / Information 2009

Aug 10, 2009

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11[th] August 2008

ASX Company Announcements Attn: Ms Luxmy Wigneswaran

COCHLEAR APPENDIX 4E STATEMENT

Dear Ms Wigneswaran

Please find attached amended Independent Audit Report which was attached to Cochlear’s Appendix 4E.

The amended version changes the date of signature to 11[th] August 2009 from 11[th] August 2008.

Yours sincerely

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NEVILLE MITCHELL Chief Financial Officer & Company Secretary

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Cochlear Limited ABN 96 002 618 073 14 Mars Road (PO Box 629), Lane Cove NSW 2066, Australia Tel: +61 (0)2 9428 6555 Fax: +61 (0)2 9428 6353 www.cochlear.com

INDEPENDENT AUDIT REPORT to the Members of Cochlear Limited

Report on the financial report

We have audited the accompanying financial report of Cochlear Limited (the Company), which comprises the balance sheets as at 30 June 2009, and the income statements, statements of recognised income and expense and cash flow statements for the year ended on that date, a description of significant accounting policies and other explanatory Notes 1 to 28 and the directors’ declaration of the Consolidated Entity comprising the Company and the entities it controlled at the year’s end or from time to time during the financial year.

Directors’ responsibility for the financial report

The directors of the Company are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. In Note 2(a), the directors also state, in accordance with Australian Accounting Standard AASB 101 Presentation of Financial Statements, that the financial report, comprising the financial statements and notes, complies with International Financial Reporting Standards.

Auditor’s responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.

We performed the procedures to assess whether in all material respects the financial report presents fairly, in accordance with the Corporations Act 2001 and Australian Accounting Standards (including the Australian Accounting Interpretations), a view which is consistent with our understanding of the Company’s and the Consolidated Entity’s financial position and of their performance.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence

In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001.

Auditor’s opinion

In our opinion:

• (a) the financial report of Cochlear Limited is in accordance with the Corporations Act 2001, including:

• (i) giving a true and fair view of the Company’s and the Consolidated Entity’s financial position as at 30 June 2009 and of their performance for

• the year ended on that date; and

  • (ii) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001

• (b) the financial report also complies with International Financial Reporting Standards as disclosed in Note 2(a).

Report on the Remuneration Report

We have audited the Remuneration Report included in the Directors’ Report for the year ended 30 June 2009. The directors of the Company are responsible for the preparation and presentation of the Remuneration Report in accordance with Section 300A of the Corporations Act 2001. Our responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in accordance with auditing standards.

Auditor’s opinion

In our opinion, the Remuneration Report of Cochlear Limited for the year ended 30 June 2009, complies with Section 300A of the Corporations Act 2001.

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KPMG Kevin Leighton, Partner Sydney 11 August 2009

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