Appendix 3Y Change of Director's Interest Notice

Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2
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 BILLABONG INTERNATIONAL LIMITED ABN 17 084 923 946

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

Gordon Stanley Merchant

Date of last notice

27 April 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 relevant interest.

Shares held by Gordon Merchant No.2 Pty Ltd as trustee for others including Gordon Merchant

Shares held by GSM Pty Ltd of which

Gordon Merchant is the sole shareholder

Shares held by GSM Superannuation Pty Ltd (of which Gordon Merchant is the sole shareholder) as trustee for the Gordon Merchant Super A/C

Date of change

27 April - 1 May 2015

No. of securities held prior to change

81,904,406 Gordon Merchant No.2 Pty

Ltd

3,119,867 GSM Pty Ltd

13,814,778 GSM Superannuation Pty Ltd

Total 98,839,051

Class

Fully paid ordinary shares


+ See chapter 19 for defined terms.
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Change of Director's Interest Notice

Number acquired

1,736,132

Number disposed

N/A

Value/Consideration includes brokerage and GST

Note: If consideration is non-cash, provide details and estimated valuation

$1,042,482.22

No. of securities held after change

83,640,538 Gordon Merchant No.2 Pty

Ltd

3,119,867 GSM Pty Ltd

13,814,778 GSM Superannuation Pty Ltd

Total 100,575,183

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

On market trades

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

Nil

Nature of interest

Name of registered holder

(if issued securities)

Date of change

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in

relation to which the interest has changed

Interest acquired

Interest disposed

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

Interest after change

Part 3 - +Closed period


+ See chapter 19 for defined terms.
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+ See chapter 19 for defined terms.

Appendix 3Y Change of Director's Interest Notice

01/01/2011 Appendix 3Y Page 3

ME_121149922_1 (W2007)

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