IPH LIMITED — Director's Dealing 2017

Nov 20, 2017

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 30/9/2001.

Name of entity IPH Limited

ABN 49 169 015 838

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Andrew Nathaniel Blattman
Date of appointment	20 November 2017

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

N/A

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature ofinterestNote: Provide details of the circumstances giving riseto the relevant interest.Power to exercise or control theexercise of the right to vote ordispose of shares held by thefollowing entities:Talabah Pty Limited(ABN 66 832 247 501)Aliand Pty Limited(ABN 19 110 176 844)	Number & class of Securities4,067,175 fully paid ordinary shares438,991 fully paid ordinary shares

Part 3 – 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	Performance Rights issued under the IPHLimited Employee Incentive Plan as approvedby shareholders at the Annual GeneralMeetingon 20 November 2017
Nature of interest	Holder of Performance Rights
Name of registered holder(if issued securities)	Andrew Nathaniel Blattman
No. and class of securities towhich interest relates	156,780 Performance Rights

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002