IPH LIMITED — Director's Dealing 2016

Nov 21, 2016

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	David Griffith
Date of last notice	19 November 2014

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
	(c) Indirect
Nature of indirect interest	(a) N/A
(including registered holder)	(b) Power to exercise or control the exercise
Note: Provide details of the circumstances giving rise to the relevantinterest.	of the right to vote or dispose of sharesheld by Nabide Pty Limited (ACN 002 151
	724)
	(c) Power to exercise or control the exercise
	of the right to vote or dispose of shares
	held by Dirdot Pty Limited (ACN 070 004
	670)astrusteefor	the	Griffith
	Superannuation Fund
Date of change	(a) 21 November 2016
	(b) 21 November 2016
	(c) 21 November 2016
No. of securities held prior to change	(a) 1
	(b) 5,358,024
	(c) 740,741
Class	(a) Fully paid ordinary shares
	(b) Fully paid ordinary shares
	(c) Fully paid ordinary shares

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Number acquired	(a) Nil(b) Nil(c) Nil
Number disposed	(a) 1(b) 3,000,000(c) 500,000
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	(a) $5(b) $15,000,000(c) $2,500,000
No. of securities held after change	(a) Nil(b) 2,358,024(c) 240,741
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	(a) Sale of shares in share sale facility forescrowed shareholders(b) Sale of shares in share sale facility forescrowed shareholders(c) Sale of shares in share sale facility forescrowed shareholders

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	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 in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3