MONASH IVF GROUP LIMITED

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The Capital Group Companies, Inc. 333 South Hope Street Los Angeles, California 90071-1406

thecapitalgroup.com

18 August 2016

BY EMAIL - ORIGINAL IN POST

( [email protected] )

Monash IVF Group Limited Pelaco Building 1 Level 1,21-31 Goodwood Street Richmond VIC 3121 Australia

Re: Notice of Change in Interests of Substantial Shareholder under Section 671B

Company Secretary:

Enclosed is a Notice of Change in Interests of Substantial Shareholder under Section 671B dated 17 August 2016. Please note that a copy of this report has been sent to the Australian Stock Exchange.

The Capital Group Companies, Inc. (“CGC”) is the parent company of Capital Research and Management Company (“CRMC”). CRMC is a U.S.-based investment management company that manages the American Funds family of mutual funds. CRMC manages equity assets for various investment companies through three divisions, Capital Research Global Investors, Capital International Investors and Capital World Investors. CRMC in turn is the parent company of Capital Group International, Inc. (“CGII”), which in turn is the parent company of five investment management companies (“CGII management companies”): Capital Guardian Trust Company, Capital International, Inc., Capital International Limited, Capital International Sàrl and Capital International K.K. The CGII management companies primarily serve as investment managers to institutional clients.

Neither CGC nor any of its affiliates own shares of Monash IVF Group Limited for its own account. Rather, the shares reported on Form 604 are owned by accounts under the discretionary investment management of one or more of the investment management companies that make up CGC.

For the purpose of this Notice, an outstanding share balance of 235,395,438 shares was used to calculate the percentage of holdings. We believe this outstanding share balance is correct; however, if this number is not accurate, please contact us as soon as possible so we may make the necessary revisions.

Should you have questions or require additional information, please contact us at (213) 615-0469, or send a fax message to (213) 615-4056. Alternatively, you may contact us via e-mail at [email protected].

Regards,

Vivien Tan Compliance Specialist

604 page Page 1 of 2

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Monash IVF Group Limited ACN/ARSN ACN 169 302 309 1. Details of substantial holder(1) Name The Capital Group Companies, Inc. ACN/ARSN (if applicable) N/A There was a change in the interests of the substantial holder on 17 August 2016 The previous notice was given to the company on 12 August 2016 The previous notice was dated 11 August 2016

The shares reported were owned by accounts under the discretionary investment management of 1 investment management company (Capital Research and Management Company) which is a direct or indirect subsidiary of The Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California 90071.

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person'svotes	Voting power(5)	Person'svotes	Voting power(5)
Ordinary Shares	15,797,039	6.7108%	18,520,000	7.8676%

The shares being reported under this section are owned by accounts under the discretionary investment management of 1 investment management company (Capital Research and Management Company) which is a direct or indirect subsidiary of The Capital Group Companies, Inc., 333 South Hope Street, 55th Floor, Los Angeles, California 90071.

604 page Page 2 of 2

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
12 Aug 2016 to 17 Aug2016	The Capital Group Companies,Inc.	Increased holdings	Average price of AUD 2.5011	2,722,961 OrdinaryShares	2,722,961

See Annexure A dated 11 August 2016

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder(8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
		none
See Annexure A dated 17 August 2016 (copy attached)

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
The Capital Group Companies, Inc.	333 South Hope Street, 55thFloor LosAngeles, CA90071

Signature

print name: Walter R. Burkley Capacity: Senior Counsel sign here ______ date 18 August 2016

Annexure “A”

This is the Annexure of 2 pages marked Annexure “A” referred to in Form 604 signed by this corporation dated 17 August 2016.

The Capital Group Companies, Inc.

By: ________ Walter R. Burkley Senior Counsel

Australia Annexure A

As of 17 August 2016

CG Investment Management Company Capital Research and Management Company GRAND TOTAL	Account Number 11000035		Number of Shares % Held 18,520,000 7.87% 18,520,000 18,520,000 7.87%

Australia Annexure A Nominee List