Cochlear : 2022 Sustainability Report

Cochlear Limited

Sustainability Report 2022

Cover: Audrey, Cochlear™ Nucleus® System recipient Tina, Cochlear™ Nucleus® System recipient

Contents

About this report	1
About Cochlear	2
Our story	3
A message from the CEO & President	4
Sustainability highlights	6
Materiality assessment	7
How we create value	8
Our sustainability approach	10
A healthier and more productive society	12
Empowered customers	24
A lifetime of hearing solutions	30
Thriving people	36
Creating value responsibly	44
Advancing environmental sustainability	50
GRI content index	56
References	59

Cochlear acknowledges the Aboriginal and Torres Strait Islander peoples and their custodianship of the various lands across Australia on which we work, live and learn. We pay our respects to ancestors and Elders past, present and emerging. Cochlear's global headquarters are located on the unceded lands of the Wallumattagal Peoples of the Darug Nation.

The Joy of Sound artwork by First Nations' design agency Balarinji was commissioned by Cochlear to tell the story of our foundation and beginnings. It represents Professor Graeme Clark's determination to find a new and more effective way to treat hearing. It reflects our Mission to help more people hear and be heard, to connect with others and live a full life.

About this report

This Sustainability Report demonstrates the sustainability performance of Cochlear Limited (Cochlear) and outlines initiatives that support our creation of long-term value aligned with the United Nations Sustainable Development Goals (SDGs). It was prepared with reference to the Global Reporting Initiative (GRI) Standards for the period from 1 July 2021 to 30 June 2022.

The information in this report is obtained from subject matter experts across the business and reviewed by senior management. The report is current as at 18 August 2022 and has been approved by the Board.

Cochlear publishes a suite of reports annually, including the Annual Report, Corporate Governance Statement, Tax Contribution Report, and Sustainability Report, which are available at the Investors section of the website www.cochlear.com.

Unless otherwise specified, measurements and data in this report pertain to Cochlear and its controlled entities during the reporting period from 1 July 2021 to 30 June 2022 (FY22). Consolidated financial statements for the corresponding reporting period are published in the Cochlear 2022 Annual Report. All dollar values refer to Australian dollars (AUD) unless otherwise specified.

Global sales

~$1.6b

in sales revenue

~80% ~20%

Developed markets* Emerging markets*

48% 35% 17%

Americas* EMEA*Asia Pacific*

Market leader

Growing scale

$200m+	~	4,500	100+
in annual R&D
>60%	employees	collaborative
30+	research programs
global market share**	6
700,000+	direct operations	sites
	countries with	key manufacturing
implants sold***

* Based on sales revenue. ** Based on Cochlear estimates for cochlear implants. *** Includes cochlear and acoustic implants.

Cochlear Limited Sustainability Report 2022

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About Cochlear

For over 40 years, Cochlear has been the global leader in implantable hearing solutions.

Cochlear commenced operations in

1981 as part of the Nucleus group and in

1995 listed on the Australian Securities Exchange. Today, it is a Top 50 listed Australian company with a market capitalisation of over $13 billion.

We aim to improve awareness of and access to implantable hearing solutions for people indicated for our products. We have provided more than 700,000 implant devices to people who benefit from one - or two - of our implantable solutions. Whether these hearing solutions were implanted today or many years ago, we continue to bring innovative new products to market as well as sound processor upgrades for prior generations of recipients.

We invest around 12% of sales revenue each year in R&D, with over $2 billion invested since listing, and participate in over 100 collaborative research programs worldwide. Our global headquarters are on the campus of Macquarie University in Sydney, with regional offices in Asia Pacific, Europe and the Americas. We have a deep geographical reach, selling in over 180 countries, with a direct presence in over 30 countries and a global workforce of close to 4,500 employees.

Our story

For over 40 years, Cochlear has been bringing people all over the globe into the world of sound.

Professor Graeme Clark, an Australian ear surgeon, saw first-hand the isolation and frustration that comes from living in a world of silence as his father struggled with hearing difficulties. On holiday in 1977, fiddling with a shell and a blade of grass, Graeme realised there was a safe way to insert electrodes into the inner ear. It was Graeme's determination to help others that realised our first implantable solution, reconnecting Rod Saunders to hearing and bringing music into his life.

Today, Cochlear is the leader in implantable hearing solutions, connecting hundreds of thousands

of people globally to a life full of hearing. The pioneering spirit that started Cochlear all those years ago continues to drive us forward and our commitment is stronger than ever.

We are transforming the way people understand and treat hearing loss, and we are committed to reaching more people to provide support for a lifetime of hearing.

Cochlear Limited Sustainability Report 2022

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