COCHLEAR LIMITED — Director's Dealing 2013

Sep 8, 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 22 August 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.

Direct or indirect interest	Direct and indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	16,000 fully paid ordinary shares inCochlearLimited.12,000fullypaidordinary shares in Cochlear Limited areheld by Cabbit Pty Limited as trustee fortwo trusts of which Dr Roberts is abeneficiary. 4,000 fully paid ordinaryshares in Cochlear Limited are held byRomaxis Pty Ltd as trustee for a trust ofwhich 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 50,780 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 8,470 shares have beenadded to the arrangement. In total 59,250 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	2 September 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 473,340 fully paidordinary shares in Cochlear Limited, including187,913 put and call options exercisable in 2013, and285,427put 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