IPH LIMITED — Director's Dealing 2015

Dec 28, 2015

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	IPH Limited
ABN	46 169 015 838

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.

We (the entity) give ASX the followingthe director for the purposes of section	information under listing rule 3.19A.2 and as agent for205G of the Corporations Act.
Name of Director	Robin Low
Date of last notice	23 December 2015

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	(a) Direct(b) Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	(a) N/A(b) Power to exercise or control the exerciseof the right to vote or dispose of sharesheld by RJL Super Pty Limited (ACN 600237 536) as trustee for the Low SuperFund
Date of change	(a) N/A(b)29 December 2015
No. of securities held prior to change	(a) 7,937(b) 49,260
Class	(a) Fully paid ordinary shares(b)Fully paid ordinaryshares
Number acquired	(a) Nil(b)2,054
Number disposed	(a) Nil(b)Nil
Value/ConsiderationNote: If consideration is non‐cash, provide details and estimatedvaluation	(a) N/A(b) $14,994.20
No. of securities held after change	(a) 7,937(b)51,314

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change (a) N/A Example: on‐market trade, off‐market trade, exercise of options, (b) Participation in share purchase plan issue of securities under dividend reinvestment plan, participation in buy‐back

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	Detail of contract	N/A	N/A	N/A	N/A	N/A
Nature of interest		N/A
Name of registered holder(if issued securities)		N/A
Date of change		N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed		N/A
	nterest related prior to changeote: Details are only required for a contract inelation to which the interest has changed
I	nterest acquired	N/A
Interest disposed	nterest disposed	N/A
Value/ConsiderationNote: If consideration is non‐cash, provide detailsand an estimated valuation		N/A
Interest after change		N/A
Were the interests in the securities or coabove traded during a+closed period whclearance was required?			ntracts detailedre rior written	No
			p
If so, was prior written clearance provided tto proceed during this period?			o allow the trade	N/A
If prior written clearance was provided, on what date was thisprovided?				N/A

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011