COCHLEAR LIMITED — Director's Dealing 2013

Aug 18, 2013

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Cochlear Limited
ABN	96 002 618 073

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Dr Christopher Graham Roberts
Date of last notice	7 June 2013

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

’	’
Part 1 - Change of directors releIn the case of a trust, this includes intere		ant interests in sests in the trust made a	curitiesvailable by the respon		sible entity of the trust
Note: In the case of a coman interests whic		h come within ararah	(i) of the definition of “n		tifiable interest of a director” should be
py,disclosed in this part.		pgp
	Direct or indirect interest			Direct an	indirect
	Nature of indirect interest(including registered holder)			16,000 fCochlear	ully paid ordinary sharesLimited12000full	inpaidarefors anarybyt of
	Note: Provide details of the circumstanceinterest	s giving rise to the rel	evant	ordinar	.,y shares in Cochlear Limited
	.			y
				held by Ctwo trus	abbit Pty Limited as trustees of which Dr Roberts i
				beneficiarshares in	y. 4,000 fully paid ordiCochlear Limited are held
				Romaxis	Pty Ltd as trustee for a trus
				which Dr Roberts is a beneficiary.
	Date of change			Not applicable – see Part 2
	No. of securities held prior to change			(a) 719,803 fully paid ordinary shares inCochlear Limited (703,803 direct and16,000 indirect)(b) 372,016 options each over one fullypaid ordinary share in CochlearLimited (23,235 vested and 348,781unvested)

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	Class	(a) Fully paid ordinary shares(b) Options over fully paid ordinaryshares (which are subject to vestingcriteria)
Number acquired		Not applicable – see Part 2
Number disposed		Not applicable – see Part 2
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation		Not applicable – see Part 2
No. of securities held after change		Not applicable – see Part 2
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back		Not applicable – see Part 2
Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should bedisclosed in this part.
Detail of contract	Dr Roberts previously entered into a financingarrangement in relation to 27,736 fully paid ordinaryshares in Cochlear Limited. The transaction includedput and call options exercisable in 2013. Thefinancing arrangement has been renewed in respectof these shares and a further 4,325 shares have beenadded to the arrangement. In total 32,061 shares arenow subject to this financing arrangement with putand call options exercisable in 2014.
Nature of interest	Direct
Name of registered holder(if issued securities)	Dr Christopher Graham Roberts

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Date of change	14 August 2013
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relationto which the interest has changed	See “Detail of Contract” above
Interest acquired	See “Detail of Contract” above
Interest disposed	See “Detail of Contract” above
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	Not Applicable
Interest after change	Financing arrangements relating to 460,043 fully paidordinary shares in Cochlear Limited, including270,251 put and call options exercisable in 2013, and189,792 put and calloptions exercisable in 2014.

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	Not applicable
If prior written clearance was provided, on what date was thisprovided?	Not applicable

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3