COCHLEAR LIMITED — Director's Dealing 2014

Sep 15, 2014

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 10 September 2014

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	12 September 2014
No. of securities held prior to change	(a) 719,803 fully paid ordinary shares inCochlear Limited (703,803 direct and16,000 indirect)(b) 354,184 options each over one fullypaid ordinary share in CochlearLimited (unvested)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	Class	Class	Class	Short term incentive performance rights tofullypaidordinaryshares(“STIPerformance Rights”)	Short term incentive performance rights tofullypaidordinaryshares(“STIPerformance Rights”)	Short term incentive performance rights tofullypaidordinaryshares(“STIPerformance Rights”)	Short term incentive performance rights tofullypaidordinaryshares(“STIPerformance Rights”)
				Performance Rights”)
Number	acquired			2,781 STI Performance Rights
Number	dis	posed		Not a	pplicable
Value/CoNote: If cvaluation	nsonsi	iderationderation is non-cash, provide details and estimated		Nil
No. of securities held after change	cu	rities held after change		(a) 7C1(b) 3pLi2	19,803 fully paid ordinary shaochlear Limited (703,803 direc6,000 indirect)54,184 options each over oneaid ordinary share in Comited (unvested)781 STI Pf Riht
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back				The STI Performance Rights is Dr Roberts’deferred short term incentive award underthe Cochlear Executive Incentive Plan(“CEIP”) for the financial year 2013-2014.The STI Performance Rights are subject tothe vesting criteria in the CEIP and willlapse if the vesting criteria are not met.The STI Performance Rights which vest**willbe exercised automatically. **
				The STI Performance Rights are subthe vesting criteria in the CEIP anlapse if the vesting criteria are not mThe STI Performance Rights whic**willbe exercised automatically. **
	Change of director’s interests in contractscase of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” shoin this part.
		ange of director’s interests in contracts
		of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a directohis part.
Detail o	f c	ontract
Nature	of interest	nterest
Name o(if issue	f registered holderd securities)
Date of change	change

Part 2 – Change of director’s interests in contracts

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

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

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