IPH LIMITED — Capital/Financing Update 2015

Sep 17, 2015

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ASX Announcement

18 September 2015

IPH acquires Pizzeys Patent and Trade Mark Attorneys Pty Limited

IPH is pleased to announce it has reached agreement to acquire Pizzeys Patent and Trade Mark Attorneys Pty Limited (“Pizzeys”). Pizzeys was established over 20 years ago and is one of the fastest growing intellectual property (“IP”) firms in Australia (based on patent filings at IP Australia). This year Pizzeys has become the fourth largest filer of patent applications at the Australian Patent Office (as at 31 August 2015). Pizzeys business is predominantly focussed on in-bound work into Australia from overseas IP associates and direct corporate clients. Pizzeys has offices in Brisbane and Canberra.

Purchase consideration for the acquisition is $73.6m, with a potential additional earn-out payment based on FY16 earnings growth, capped at $13.3m.

Commenting on the acquisition IPH’s Managing Director, David Griffith said “we are delighted to have reached an agreement to acquire Pizzeys and extend a warm welcome to the principals and staff. The acquisition of Pizzeys represents a major step towards IPH reaching its target market share in Australia. Pizzeys principals have been very successful in developing quality client relationships in key markets over the last 15 years. This is a great achievement.”

Mr Griffith went on to say, “the profitable growth Pizzeys has achieved in recent years has been impressive. We expect by joining the IPH group, Pizzeys will be able to build on their momentum by making the wider range of IP services that the IPH group offers available to their clients.”

Key features of the acquisition are:

• Purchase consideration of $73.6m, subject to final accounting adjustments.

• Earn-out capped at $13.3m based on increase in FY16 earnings compared to FY15.

• Consideration and earn-out (if any) to be settled 50% by the issue of new IPH shares, and 50% in cash.

• IPH shares to be issued at $5.41/share (being 20 day VWAP up to and including 17 Sept 2015)

• All consideration and earn-out (if any) shares escrowed for 2 years from issue.

• EPS accretive (after acquisition costs and before synergies).

• Completion is expected by 30 September 2015.

For more information, please contact:

David Griffith, Managing Director Malcolm Mitchell, Group Chief Financial Officer Ph: +61 2 9393 0301

IPH Limited | Level 35, 31 Market St Sydney, NSW 2000, Australia | www.iphltd.com.au

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About IPH Limited

IPH Limited (“IPH”, ASX:IPH), the holding company of Spruson & Ferguson, Practice Insight, Fisher Adams Kelly and Pizzeys, is the leading intellectual property (“IP”) services group in the Asia-Pacific region offering a wide range of IP services and products. These services are provided across Australia, New Zealand, Papua New Guinea, the Pacific Islands and Asia from offices in Sydney, Brisbane, Melbourne, Canberra, Singapore, Kuala Lumpur and supported by a representative office in Shanghai. The group comprises a multidisciplinary team of approximately 360 people, including some of the most highly regarded IP professionals in the Asia-Pacific region. The team services a diverse client base of Fortune Global 500 companies and other multinationals, public sector research organisations, foreign associates and local clients. IPH is the first IP services group to list on the Australian Stock Exchange.

IPH Limited | Level 35, 31 Market St Sydney, NSW 2000, Australia | www.iphltd.com.au

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