Cochlear : Becoming a substantial holder

afc97a86-f848-4e58-82ba-3c92483e23d2.pdf

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme Cochlear Limited (COH)

ACN/ARSN 002 618 073

1. Details of substantial holder (1)

   Name Hyperion Asset Management Limited (Hyperion)

   ACN/ARSN (if applicable) 080 135 8 97

   The holder became a substantial holder on

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

   Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
   Ordinary fully paid	2,874,928	2,874,928	5.03%

3. Details of relevant interests

   The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

   Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities

4. Details of present registered holders

   The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

   Holder of relevant interest	Registered holder of securities	Person entitled to be reaistered as holder {8)	Class and number of securities
   See Annexure A

5. Consideration

   The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

   Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
   Cash	Noncash
   See Annexure B

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

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

7, Addresses

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

Name	Address
Hyperion Asset Management Limited ACN 080 135 897	Level 19 1 307 Queen Street, Brisbane, QLD 4 000

Signature

print name Ian Harrison capacity Company Secretary

sign here date 13/ 05/2016

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

2. See the definition of "associate" in section 9 of the Corporations Act 2001.

3. See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.

4. The voting shares of a company constitute one class unless divided into separate classes.

5. The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

6. The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

7. Include details of:

   {a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

   (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates {indicating clearly the particular securities to which the qualification applies).

   See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

8. If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".

9. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

Annexure A

As At: 12 May 2016 GOH.ASX

COCHLEAR LIMITED

HYPERICJN

ASSET MA N AG EM E N T

Holder of

Relevant Interest

Registered Holder of Security

Person entitled to be Registered as

Holder

Nature of Relevant Interest Class and Number of

Securities

Personal

Votes

Hyperion

JP Morgan Chase Nominees Ply Ltd Auscoal Superannuation Ply Ltd

Auscoal Superannuation Pty Ltd A/C >

Hyperion Asset Management Limited, in its capacity as Investment Manager or in its own holdings for the persons or trusts listed beside its name,has the power to control voting and /or the disposal of securities

133,461 Ordinary Full Paid

133,461

Hyperion

BNP Paribas Australia Ltd BUSS BUSS (Queensland) Ply Ltd (QUEENSLAND) PTY LTD A/C >

Hyperion Asset Management Limited, in its capacity as 110,569 Ordinary Full Paid Investment Manager or inits own holdings for the persons or

trusts listed beside its name,has the power to control voting and /or the disposal of securities

110,569

Hyperion

Hyperion

Hyperion

Citicorp Nominees Ply Limited CBA Commonwealth Bank Officers Officers Superannuation Fund Ply Ltd Superannuation Corporation Ply Ltd A/C >mmonwealth Bank Group Super>

JP Morgan Chase Nominees Ply Ltd Coal Mining (Long Service Leave) Funding

Coal Mining (Long Service Leave) Corporation Funding Corporation A/C >

JP Morgan Chase Nominees Pty Ltd ColNVEST Limited

Limited A/C >

Hyperion Asset Management Limited,in its capacity as Investment Manager or inits own holdings for the persons or trusts listed beside its name, has the power to control voting and /or the disposal of securities

Hyperion Asset Management Limited,in its capacity as Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control voting and /or the disposal of securities

Hyperion Asset Management Limited,in its capacity as Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control voling and /or the disposal of securities

140,513 Ordinary Full Paid

37,771 Ordinary Full Paid

48,614 Ordinary Full Paid

140,513

37,771

48,614

Hyperion

National Nominees Ltd Electricity Supply Industry Super A/C >

Electricity Supply Industry Superannuation (QLD) Ltd rgy Super>

Hyperion Asset Management Limited,in its capacity as Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control voling and /or the disposal of securities

141,940 Ordinary Full Paid

141,940

Hyperion

RBC Investor Services Ply Limited FAWKNER A/C >

The Greater Metropolitan Cemeteries Trust Hyperion Asset Management Limited, in its capacity as

Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control voting and /or the disposal of securities

13,027 Ordinary Full Paid

13,027

Hyperion

Hyperion

JP Morgan Chase Nominees Ply Ltd First State Super Ply Ltd

Health Super Ply Ltd A/C >

RBC Investor Services Ply Limited Hyperion Australian Growth Companies Hyperion Australian Growth Fund

Companies Fund A/C >

Hyperion Asset Management Limited, in its capacity as 595,839 Ordinary Full Paid Investment Manager or in its own holdings for the persons or

trusts listed beside its name, has the power to control voting and /or the disposal of securities

Hyperion Asset Management Limited, in its capacity as 390,336 Ordinary Full Paid Investment Manager or in its own holdings for the persons or

trusts listed beside its name,has the power to control voting and /or the disposal of securities

595,839

390,336

Hyperion

BNP Paribas Australia Ltd Insurance Commission of Western Australia A/C >

Insurance Commission Western Australia Hyperion Asset Management Limited, in its capacity as 119,939 Ordinary Full Paid

Investment Manager or inits own holdings for the persons or trusts listed beside its name,has the power to control voting and /or the disposal of securities

119,939

Hyperion RBC Investor Services Pty Limited 876

KARU NC >No 1 Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control voting and /or the disposal of securities

Hyperion	National Nominees Ltd AJC >	Maritime Super Ply Ltd	Hyperion Asset Management Limited, in its capacity as Investment Manager or in its own holdings for the persons or	99,020 Ordinary Full Paid	99,020
trusts listed beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	JP Morgan Chase Nominees Pty Ltd	Meat Industry Employees' Superannuation	Hyperion Asset Management Limited, in its capacity as	33,377 Ordinary Full Paid	33,377
	Fund Ply Ltd	Investment Manager or in its own holdings for the persons or
Superannuation Fund Pty Ltd AJC >	trusts listed beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	National Nominees Ltd AJC >	United Super Pty Ltd	Hyperion Asset Management Limited, in its capacity as Investment Manager or in its own holdings for the persons or	565,231 Ordinary Full Paid	565,231
trusts listed beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	RBC Investor Services Pty limited	The University of Queensland	Hyperion Asset Management Limited, in its capacity as	37, 134 Ordinary Full Paid	37,134
University of Queensland NC >	Investment Manager or in its own holdings for the persons or
trusts fisted beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	JP Morgan Chase Nominees Pty Ltd	SAS Trustee Corporation	Hyperion Asset Management Limited, in lts capacity as	245,882 Ordinary Full Paid	245,882
	Investment Manager or in its own holdings for the persons or
trusts listed beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	National Nominees Ltd	Unipension Invest F.M.B.A	Hyperion Asset Management Limited, in its capacity as	145,546 Ordinary Full Paid	145,546
Invest F.M.B.A >	Investment Manager or in its own holdings for the persons or
trusts listed beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	RBC Investor Services Pty Limited AJC>	The Australian Rechabite Foundation Limited	Hyperion Asset Management Limited, in its capacity as Investment Manager or in its own holdings for the persons or	350 Ordinary Full Paid	350
trusts listed beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	Individually Managed Accounts	Hyperion Asset Management Limited, in its capacity as	7,799 Ordinary Full Paid	7,799
Investment Manager or in its own holdings for the persons or
trusts listed beside its name, has the power to control voting
and /or the disposal of securities
Hyperion	External IMAs	Hyperion Asset Management Limited, in its capacity as	7,704 Ordinary Full Paid	7,704
Investment Manager or in its own holdings for the persons or
trusts listed beside its name, has the power to control voting
and /or the disposal of securitles

yft,,,- / 2,874,928

Signed by: This is Annexure "A" of 1 page as mentioned in form 603 Notice of Initial substantial holder Ian Harrison

Capacity:

Company Secretary Date: 13 May 2016