COCHLEAR LIMITED — Director's Dealing 2013

Aug 21, 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 19 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 are
	held by Cabbit Pty Limited as trustee for
	two trusts of which Dr Roberts is a
	beneficiary. 4,000 fully paid ordinary
	shares in Cochlear Limited are held by
	Romaxis Pty Ltd as trustee for a trust of
	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 in
	Cochlear Limited (703,803 direct and
	16,000 indirect)
	(b) 372,016 options each over one fully
	paid ordinary share in Cochlear
	Limited (23,235 vested and 348,781
	unvested)

• 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 31,558 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 4,827 shares have beenadded to the arrangement. In total 36,385 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	19 August 2013
No. and class of securities to which	See “Detail of Contract” above
interest related prior to change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired	See “Detail of Contract” above
Interest disposed	See “Detail of Contract” above
Value/Consideration	Not Applicable
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change	Financing arrangements relating to 455,216 fully paid
	ordinary shares in Cochlear Limited, including
	238,693 put and call options exercisable in 2013, and
	226,177put and calloptions exercisable in 2014.

Part 3 –[+] Closed period

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

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3