IPH LIMITED — Capital/Financing Update 2015

Dec 22, 2015

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ASX Announcement

IPH LIMITED (ASX: IPH)

Wednesday, 23 December 2015

IPH COMPLETES $51 MILLION SHARE PURCHASE PLAN OFFER

IPH Limited (ASX: IPH) ( “IPH” ) today announced that it has successfully completed its share purchase plan offer (“ SPP Offer” ) raising approximately $51 million. Following strong support from shareholders including many IPH staff and clients, IPH will accept all eligible applicants and issue approximately $51 million of IPH shares at $7.30 per share.

The SPP Offer was announced on Tuesday, 24 November 2015, in conjunction with IPH’s $60 million placement to professional investors, and closed on Wednesday, 16 December 2015.

The new IPH shares are expected be allotted on Tuesday, 29 December 2015 and holding statements are expected to be mailed to participating shareholders on Wednesday, 30 December 2015. The new IPH shares are expected to be quoted on the ASX on Thursday, 31 December 2015.

For more information, please contact: David Griffith, Managing Director Malcolm Mitchell, Group Chief Financial Officer Ph: +61 2 9393 0301

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This announcement has been prepared for publication in Australia and may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.

IPH Limited (ACN 169 015 838) | Level 35, 31 Market St Sydney, NSW 2000, Australia | www.iphltd.com.au