IPH LIMITED — Director's Dealing 2015

Aug 27, 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.

Name of Director	Richard John Grellman
Date of last notice	11 March 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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Power to exercise or control the exerciseof the right to vote or dispose of theshares held by: Grellman Super Pty Ltd(ACN 161 512 090) as trustee for theGrellman Superannuation Fund.
Date of change	27 August 2015
No. of securities held prior to change	48,791
Class	Fully Paid Ordinary
Number acquired	1,800
Number disposed	0
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$9,099.00
No. of securities held after change	50,591

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

	Nature of changeExample: on-market trade, off-market trade, exercise of options,i f iti d diidd itt l tiiti i	Nature of changeExample: on-market trade, off-market trade, exercise of options,i f iti d diidd itt l tiiti i	On-market trade	On-market trade	On-market trade
	ssue o secures uner ven renvesmen pan, parcpaon nbuy-back
	Part 2 – Change of director’s interests in contractsNote: In the case of a company, interests which come within paragraph (ii) of the definitiobe disclosed in this part.			n of “notifiable interest of a director” should
	Detail of contract	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
	Interest acquired	N/A
Interest disposedN/AValue/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuationN/AInterest after changeN/APart 3 –+Closed periodWere the interests in the securities or contraabove traded during a+closed period where pclearance was required?If so, was prior written clearance provided to alloto proceed during this period?If prior written clearance was provided, on what dprovided?
	Interest 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 contraabove traded during a+closed period where pclearance was required?		cts detailedrior written	N/A
	If so, was prior written clearance provided to alloto proceed during this period?		w the trade	N/A
	If prior written clearance was provided, on what dprovided?		ate was this	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed	N/A
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