SPH Notice – Allan Gray Group

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Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To New Zealand Stock Exchange, Australian Stock Exchange and

Sky Network Television Limited
Date this disclosure made: 7 March 2018
Date on which substantial holding began: 6 March 2018
Substantial product holder(s) giving disclosure
Full name(s): Allan Gray Australia Pty Ltd (Allan Gray Australia) and its related bodies
corporate as set out in Table 1 of Annexure A (together Allan Gray Group), as investment
manager for the funds or investment mandates listed at Table 2 of Annexure A.
Summary of substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Allan Gray Group
For this disclosure,—
(a) total number held in class: 20,668,915
(b) total in class: 389,139,785
(c) total percentage held in class: 5.311%
Details of relevant interests
Details for Details for Allan Gray Australia Pty Ltd (Allan Gray Australia) and its related
bodies corporate as set out in Table 1 of Annexure A (together Allan Gray Group), as
investment manager for the funds or investment mandates listed at Table 2 of Annexure A
Nature of relevant interest(s): as investment manager for the funds or investment
mandates listed at Table 2 of Annexure A and Annexure B
For that relevant interest,—
(a) number held in class: 20,668,915
(b) percentage held in class: 5.311%
(c) current registered holder(s): As set out in Table 1 of Annexure A
(d) registered holder(s) once transfers are registered: See Annexure B
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: See Annexure B – Trades
on market unless otherwise specified

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Additional information
Address(es) of substantial product holder(s): C/- Allan Gray Australia, Level 2 Challis
House, 4 Martin Place Sydney, NSW 2000, Australia
Contact details: Eugene Tan, Company Secretary, telephone: +61 2 8224 8627,
email: eugene.tan@orbis.com
Certification
I, Eugene Tan, Company Secretary, Allan Gray Australia certify that, to the best of my
knowledge and belief, the information contained in this disclosure is correct and that I am
duly authorised to make this disclosure by all persons for whom it is made.

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ANNEXURE A OF 3 PAGES REFERRED TO IN THE ABOVE FORM
Sky Network Television Limited

Table 1 – Related bodies corporate
The following entities are associates of Allan Gray Australia Pty Ltd (AGA) and each other by virtue of being related bodies corporate.
Orbis Allan Gray Limited Orbis Mansfield Street Properties Ltd
Orbis Holdings Limited Orbis Investment Management (BVI) Limited (OIMLBVI)
Orbis Investment Management Limited (OIML) Orbis Investment Advisory Pty Limited
Orbis Asset Management Limited (OAML) Allan Gray (Holdings) Pty Ltd
Orbis Administration Limited Orbis Investment Advisory (Hong Kong) Limited
Orbis Investment Research Limited Orbis Client Services (Canada) Limited
Orbis Investment Management (MIS) Limited Orbis Holdings (UK) Limited
Triple Blue Holdings Limited Orbis Investment Management (Europe) LLP
Pictet Overseas Trust Corporation and Pictet Trustee Company SA Orbis Investment Management (Luxembourg) S.A
Allan & Gill Gray Foundation (Guernsey) EmCap Limited (Guernsey)

Table 2 - Funds
An entity within the Group acts as investment manager for some or all of the assets in the following funds.
No Fund name Manager Code Registered holder Persons entitled to be registered
holder
1. Allan Gray Australia Equity Fund AGA SMEF Citibank N.A., Sydney Branch as
SMEF’s custodian
Equity Trustees Limited as SMEF’s
responsible entity
2. Allan Gray Australia Balanced Fund AGA SMBF Citibank N.A., Hong Kong Branch
as SMBF’s custodian
Equity Trustees Limited as SMBF’s
responsible entity
3. Allan Gray Australia Stable Fund AGA SMSF Citibank N.A., Sydney Branch as
SMSF’s custodian
Equity Trustees Limited as SMSF’s
responsible entity
4. Warakirri Australian Equities Pensions
and Charities Fund
AGA SMWA JP Morgan Nominees Australia
Ltd as SMWA’s custodian
Warakirri Asset Management Pty Ltd
SMWA’s trustee
5. Morningstar Australian Shares High
Alpha Fund
AGA SMIA JP Morgan Nominees Australia
Ltd as SMIA’s custodian
Morningstar Investment Management
Australia Limited SMIA’s trustee
6. Construction and Building Unions
Superannuation Fund
AGA SMCB JP Morgan Nominees Australia
Ltd as SMCB’s custodian
United Super Pty Ltd as SMCB’s trustee
7. HESTA Superannuation Fund AGA SMHT JP Morgan Nominees Australia
Ltd as SMHT’s custodian
H.E.S.T. Australia Ltd as SMHT’s trustee
8. Hostplus Pooled Superannuation
Trust
AGA SMHP Citibank N.A., Sydney Branch as
SMHP’s custodian
Host Plus Pty ltd as SMHP’s trustee
9. Russell Australian Opportunities Fund AGA SMRI State Street Australia Ltd as
SMRI’s custodian
Russell Investment Management Ltd as
SMRI’s responsible entity
10. MyLifeMyMoney Superannuation
Fund
AGA SMCS NAB Custodial Services as
custodian for SMCS
CSF Pty Ltd as SMCS’s trustee
11. Maritime Super AGA SMMS NAB Custodial Services as
custodian for SMMS
Maritime Super Pty Ltd as SMMS’s
trustee
12. Non-Government Schools
Superannuation Fund
AGA SMNG State Street Australia Ltd as
SMNG’s custodian
Non-Government Schools
Superannuation Fund Pty Ltd as
SMNG’s trustee
13. REST Superannuation Fund AGA SMRT State Street Australia Ltd as
SMRT’s custodian
Retail Employees Superannuation Pty
Ltd as SMRT’s trustee
14. Government Employees
Superannuation Board
AGA SMGB Northern Trust Corporation as
SMGB’s custodian
Government Employees Superannuation
Board
15. Orbis Global Equity Fund (Australia
Registered)
OIML GAPL Citibank N.A., Hong Kong Branch,
as GAPL’s custodian
Equity Trustees Limited as GAPL’s
responsible entity
16. Orbis Emerging Markets Equity Fund
(Australia Registered)
OIML EMAF Citibank N.A., Hong Kong Branch,
as EMAF’s custodian
Equity Trustees Limited as EMAF’s
responsible entity
17. Orbis Global Equity LE Fund
(Australia Registered)
AGA GALE Citibank N.A., Hong Kong Branch,
as GALE’s custodian
Equity Trustees Limited as GALE’s
responsible entity
18. Orbis Global Equity Fund Limited OIML OGEF Citigroup Fund Services Canada,
Inc (Citi Canada) as OGEF’s
custodian
OGEF
19. Orbis Optimal SA Fund Limited OIML OSAP Citi Canada as OSAP’s custodian OSAP
20. Institutional Global Equity Fund OIML IGEF Citi Canada as IGEF’s custodian IGEF
21. Orbis Optimal LP OIML OOLP Citi Canada as OOLP’s custodian OOLP

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No Fund name Manager Code Registered holder Persons entitled to be registered
holder
22. Orbis International Equity LP OIML IELP Citi Canada as IELP’s custodian IELP
23. Orbis Institutional Global Equity LP OIML OGLP Citi Canada as OGLP’s custodian OGLP
24. Orbis Institutional International Equity
LP
OIML ONLP Citi Canada as ONLP’s custodian ONLP
25. Orbis Institutional U.S. Equity LP OIML USLP Citi Canada as USLP’s custodian USLP
26. Orbis Institutional Emerging Markets
Equity LP
OIML EMLP Citi Canada as EMLP’s custodian EMLP
27. Orbis SICAV – Global Equity Fund OIML SGPL Citibank International plc
(Luxembourg Branch) (Citi Lux)
as SGPL’s custodian
SGPL
28. Orbis SICAV – Asia- Ex Japan Fund OIML XJPL Citi Lux as XJPL’s custodian XJPL
29. Orbis SICAV – Global Balanced Fund OIML GBSA Citi Lux as GBSA’s custodian GBSA
30. Orbis SICAV – International Equity OIML SNPL Citi Lux as SNPL’s custodian SNPL
31. Orbis OEIC Global Equity Fund OIML UKGE Citi Lux as UKGE’s custodian UKGE
32. Orbis Institutional Global Equity
(OFO)
OIML OGEO Citi Canada as OGEO’s custodian OGEO

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ANNEXURE B OF 1 PAGE REFERRED TO IN THE ABOVE FORM
Sky Network Television

Trades giving rise to a change in relevant interest
Trade Date Reference Code Action No of security Consideration
19 Feb 18 to 06 Mar 18 SMBF Buy 55,949 $ 130,194
12 Dec 17 to 06 Mar 18 SMCB Buy 723,829 $ 1,625,198
12 Dec 17 to 06 Mar 18 SMCS Buy 355,564 $ 803,110
12 Dec 17 to 06 Mar 18 SMEF Buy and Sell 1,386,819 $ 3,088,744
12 Dec 17 to 06 Mar 18 SMGB Buy 334,458 $ 755,806
12 Dec 17 to 06 Mar 18 SMHP Buy 488,959 $ 1,101,986
12 Dec 17 to 06 Mar 18 SMHT Buy 308,685 $ 698,277
12 Dec 17 to 06 Mar 18 SMIA Buy 54,152 $ 125,699
08 Jan 18 to 06 Mar 18 SMMS Buy 82,627 $ 183,160
12 Dec 17 to 06 Mar 18 SMNG Buy 23,628 $ 56,187
07 Dec 17 to 28 Feb 18 SMRI Buy 175,566 $ 421,286
12 Dec 17 to 06 Mar 18 SMRT Buy 757,461 $ 1,696,941
01 Mar 18 to 06 Mar 18 SMSF Buy 283,657 $ 603,092
12 Dec 17 to 06 Mar 18 SMWA Buy 13,270 $ 31,141

Total

5,044,624 $ 11,320,821
Trades on market, unless otherwise stated

Current holding
Reference Code Total no of securities
SMBF 92,737
SMCB 3,187,791
SMCS 1,562,891
SMEF 5,794,730
SMGB 1,468,559
SMHP 2,149,671
SMHT 1,359,846
SMIA 234,824
SMMS 672,832
SMNG 101,499
SMRI 373,144
SMRT 3,328,199
SMSF 283,657
SMWA 58,535
Total 20,668,915