Slide 1: Cochlear Limited 2015 Annual General Meeting
10/19/2015 For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Exchange Square Auditorium Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 1
Slide 2: Chairman: Mr Rick Holliday-Smith
10/19/2015 For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Exchange Square Auditorium Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Mr Rick Holliday-Smith Chairman 2
Slide 3: Company Secretary: Mr Neville Mitchell
10/19/2015 For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Mr Neville Mitchell Company Secretary 3
Slide 4: Chief Executive Officer and Director
10/19/2015 Mr Chris Smith Chief Executive Officer/President For personal use only Professor Ed Byrne, AC Director 4
Slide 5: Directors: Yasmin Allen and Glen Boreham
10/19/2015 Mrs Yasmin Allen Director For personal use only Mr Glen Boreham AM Director 5
Slide 6: Directors: Alison Deans and Donal O'Dwyer
10/19/2015 Ms Alison Deans Director For personal use only Mr Donal O’Dwyer Director 6
Slide 7: Director: Andy Denver
10/19/2015 Mr Andy Denver Director For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 7
Slide 8: Chairman's Address
10/19/2015 For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Chairman’s Address Mr Rick Holliday-Smith Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 8
Slide 9: CEO's Address
10/19/2015 For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 CEO’s Address Mr Chris Smith Chris Roberts Former Cochlear CEO 9
Slide 10: Overview and Hearing Loss Market Opportunity
10/19/2015 Overview For personal use only • Cochlear Limited (ASX:COH) is • ~ 2,800 employees the global leader in implantable • Direct operations in 20+ countries hearing devices – Cochlear implants • Products sold in 100+ countries – Bone conduction implants – Acoustic implants Hearing Loss: Marke
Slide 11: Our Mission and Current State of the Business
10/19/2015 Our Mission For personal use only We help people hear and be heard. We empower people to connect with others and live a full life. We transform the way people understand and treat hearing loss. We innovate and bring to market a range of implantable hearing solutions that deliver a lifetim
Slide 12: Moving forward… Strategic Platforms
10/19/2015 For personal use only Moving forward… Strategic Platforms 12
Slide 13: Strategic Platforms
10/19/2015 Strategic Platforms For personal use only Customer Focus Strategic Platforms Grow the Shape the Core Organisation Service Business Value Creation 13
Slide 14: Grow the Core and Service Business
10/19/2015 For personal use only Grow the Core • Innovative technology • Increased awareness • Improved access • Business model innovation Service Business • Connectivity; both Recipient and Clinics • Recipient engagement • Optimise upgrades • Enhanced digital services 14
Slide 15: Shape the Organisation and Value Creation
10/19/2015 For personal use only Shape the Organisation • Globally integrate non-customer facing activities • Targeted field expansion • Deep market penetration – China and emerging markets Malaysia Operations • Building capabilities Value Creation • Partnerships/Alliances • Drive global efficiency
Slide 16: Business Performance
10/19/2015 Business Performance For personal use only % 10 % 45 9 % 3 % F15 F15 $162.1m F14 F14 F14 F15 F14 F15 $853.6m $941.9m $111.6m $105.6m $115.1m 25,997 26,838 Total Sales Sound Processor Baha CI Unit Revenue Upgrades Revenue Sales Sales stated in constant currency Business Performance Regiona
Slide 17: Outlook and Summary
10/19/2015 Outlook For personal use only • First quarter results on track with internal forecasts • H1 results positively impacted by: – China tender of ~ 2,000 units – CI upgrades biased to H1 – Spend biased to H2 • FX rates still variable • Full year guidance remains NPAT $165 - $175 million at 75
Slide 18: Sian Neame-Smith, Nucleus Recipient
10/19/2015 For personal use only Sian Neame-Smith Nucleus 22 Recipient 18
Slide 19: Business of the Meeting
10/19/2015 For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Business of the Meeting 19
Slide 20: Resolution No. 1.1 Financial and other reports
10/19/2015 Resolution No. 1.1 For personal use only Financial and other reports To receive and consider the Company’s Financial Report, Directors’ Report and the Auditor’s Report in respect of the financial year ended 30 June 2015 and to consider and, if thought fit, to pass the following resolution
Slide 21: Resolution No. 2.1 Remuneration Report
10/19/2015 Resolution No. 2.1 For personal use only Remuneration Report To consider and, if thought fit, to pass the following non-binding resolution: 2.1 “THAT the Remuneration Report in respect of the financial year ended 30 June 2015 be adopted.” Resolution No. 2.1 Remuneration Report This resolu
Slide 22: Resolutions 3.1, 3.2 and 3.3 Re-election of directors
10/19/2015 Resolutions 3.1, 3.2 and 3.3 For personal use only Re-election of directors To consider and, if thought fit, to pass the following resolutions as ordinary resolutions: Resolution No. 3.1 Re-election of directors 3.1 “THAT Ms Alison Deans, being a director who is retiring in accordance wit
Slide 23: Resolution 3.1 Results - Ms Alison Deans
10/19/2015 Resolution No. 3.1 For personal use only Re-election of directors – Ms Alison Deans This resolution will be decided on a poll For Against Open Direct Votes 39.04% 0.08% - 14,956,978 30,012 Proxy Votes 60.08% 0.06% 0.77% 23,017,238 23,748 283,016 Total 99.12% 0.14% 0.77% 37,974,227 53,760
Slide 24: Resolution 3.2 Results - Mr Glen Boreham AM
10/19/2015 Resolution No. 3.2 For personal use only Re-election of directors – Mr Glen Boreham AM This resolution will be decided on a poll For Against Open Direct Votes 38.93% 0.19% - 14,912,752 72,118 Proxy Votes 59.68% 0.46% 0.74% 22,860,340 177,143 284,331 Total 98.61% 0.65% 0.74% 37,773,103 249
Slide 25: Resolution 3.3 Results and Resolution 4.1
10/19/2015 Resolution No. 3.3 For personal use only Re-election of directors – Professor Ed Byrne AC This resolution will be decided on a poll For Against Open Direct Votes 38.60% 0.52% - 14,788,973 199,316 Proxy Votes 58.94% 1.20% 0.74% 22,578,993 459,697 283,816 Total 97.54% 1.72% 0.74% 37,367,977
Slide 26: Resolution 4.1 Results and Resolution 5.1
10/19/2015 Resolution No. 4.1 For personal use only Approval of securities to be granted to the CEO/President under the Cochlear Executive Incentive Plan (CEIP) This resolution will be decided on a poll For Against Open Direct Votes 38.23% 0.91% - 14,637,492 346,963 Proxy Votes 59.59% 0.53% 0.74% 22
Slide 27: Resolution 5.1 Results and Resolution 6.1
10/19/2015 Resolution No. 5.1 For personal use only Renewal of proportional takeover provisions This resolution will be decided on a poll For Against Open Direct Votes 38.68% 0.40% - 14,831,900 154,199 Proxy Votes 59.94% 0.13% 0.85% 22,985,115 50,896 325,608 Total 98.62% 0.53% 0.85% 37,817,026 205,0
Slide 28: Resolution 6.1 Results and Collection of Poll Cards
10/19/2015 Resolution No. 6.1 For personal use only Approval to increase the maximum aggregate remuneration of non-executive directors This resolution will be decided on a poll For Against Open Direct Votes 38.36% 0.77% - 14,702,181 295,465 Proxy Votes 59.76% 0.26% 0.89% 22,904,444 101,341 324,855 T
Slide 29: Close of Meeting and Campaign Exhibits
10/19/2015 For personal use only Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Close of Meeting Cochlear Limited 2015 Annual General Meeting Tuesday 20th October 2015 Campaign Exhibits Amanda Lampe Senior Vice President Global Marketing & Corporate Affairs 29
Slide 30: For personal use only
For personal use only 30 10/19/2015