CSL Ltd. — Director's Dealing 2019

Aug 29, 2019

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Friday, 30 August 2019

To: Australian Securities Exchange

Change of Director’s Interest Notice – Paul Perreault

The attached Appendix 3Y relates to changes in the relevant interest in the Company’s securities held by the Chief Executive Officer (CEO) of CSL Limited, Mr Paul Perreault.

Mr Perreault is selling a portion of the Long Term Incentive (LTI) awards vested from CSL’s FY15 legacy remuneration plan. The majority of the sale will be used to meet tax obligations arising from this vesting, and another vesting in early September, and the remainder will be used for portfolio diversification purposes.

Following this transaction, Mr Perreault continues to hold a significant interest in the Company’s securities, comprising 111,006 ordinary shares. This represents a shareholding of over ten times Mr Perreault’s salary, which is well above CSL’s minimum guideline for its CEO to hold shares worth three times salary, and is a reflection of the Company’s remuneration model that links executive pay to the continued achievement of CSL’s long-term strategy. This shareholding will further increase in September with the vesting of additional LTI awards granted in FY18 and FY19, which Mr Perreault will retain. Mr Perreault has also signalled an intent to transfer a number of shares for philanthropic ventures in the coming weeks.

Further details are provided in the Appendix 3Y.

Yours faithfully

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Fiona Mead Company Secretary

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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 CSL Limited ABN 99 051 588 348

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	Paul Perreault
Date of last notice	19 October 2018

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 interest
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	27 August 2019 (exercise of Options and
	Performance Rights / sale of Ordinary
	Shares)
	28 August 2019 (sale of Ordinary Shares)
	15 August 2019 (lapse of Performance
	Rights)
No. of securities held prior to change	76,072 Ordinary Shares
	98,865 Performance Rights
	311,425 Performance Options
	76,488 Performance Share Units

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Class	Ordinary SharesPerformance Rights and Options under theCSL Limited Performance Rights Plan (thePlan). Subject to satisfaction of certainperformance hurdles, the payment of theapplicable exercise price (in the case of anOption), and the other rules of the Plan, eachPerformance Right and Option carries theright to subscribe for or acquire one ordinaryshare in CSL Limited.
Number acquired	Ordinary Shares – 182,845
Number disposed	(1) Options – 147,911 (exercise)(2) Performance Rights – 34,934 (exercise)(3) Ordinary Shares 147,911 (sale ofexercised Options as referred to in (1))(4) Performance Rights - 12,204 (lapse)
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	(1) Consideration paid for the exercise of theOptionswas$13,240,992.70being147,911 shares issued as a result of theexercise of 147,911 Options at anexercise price of $89.52 per Option.(2) Nil.(3) Consideration received from the sale ofOrdinary Shares was $17,284,074.82(being 73,955 Ordinary Shares at a priceof$233.7107)and$17,196,263.91(being 73,956 Ordinary Shares at a priceof $232.5202).(4) Nil.
No. of securities held after change	111,006 Ordinary Shares51,727 Performance Rights163,514 Performance Options76,488 Performance Share Units
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	(1) Exercise of Options pursuant to the Plan.(2) Exercise of Performance Rights pursuantto the Plan.(3) On-Market Trade.(4) Lapsing of unvested Performance Rightspursuant to thePlan.

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 No

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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

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
to proceed during this period?
If prior written clearance was provided, on what date was this
provided?

Fiona Mead Company Secretary 30 August 2019

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3