SPH Notice – Allan Gray Group

100080615/3821103.1
Disclosure of movement of 1% or more in substantial holding
or change in nature of relevant interest, or both
Sections 277 and 278, Financial Markets Conduct Act 2013
Note: This form must be completed in accordance with the instructions at the end of the
form.
To New Zealand Stock Exchange
and
To Sky Network Television Limited
Relevant event being disclosed: Increase in substantial holdings by more than 1%
Date of relevant event: 2 May 2018
Date this disclosure made: 3 May 2018
Date last disclosure made: 7 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: 27,668,989
(b) total in class: 389,139,785
(c) total percentage held in class: 7.110%
For last 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 transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure: See Annexure B –
Trades on market unless otherwise specified

100080615/3821103.1
Details after relevant event
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 that hold Sky Network Television
Limited shares as set out in Annexure B
For that relevant interest,—
(a) number held in class: 27,668,989
(b) percentage held in class: 7.110%
(c) current registered holder(s): See Annexure B
(d) registered holder(s) once transfers are registered: See Annexure B

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
Nature of connection between substantial product holders: Related bodies corporate, as
set out in Table 1 of Annexure A
Name of any other person believed to have given, or believed to be required to give, a
disclosure under the Financial Markets Conduct Act 2013 in relation to the financial
products to which this disclosure relates: N/A
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.

100080615/3821103.1

ANNEXURE A OF 2 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

100080615/3821103.1
No Fund name Manager Code Registered holder Persons entitled to be registered
holder
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
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

100080615/3821103.1
ANNEXURE B OF 1 PAGE REFERRED TO IN THE ABOVE FORM

Sky Network Television Limited
Trades giving rise to a change in relevant interest

Trade Date Reference Code Action No of security Consideration
12 Mar 18 to 02 May 18 SMBF Buy 119,989 $ 251,249
12 Mar 18 to 02 May 18 SMCB Buy 1,035,543 $ 2,164,186
12 Mar 18 to 02 May 18 SMCS Buy 507,701 $ 1,061,049
12 Mar 18 to 02 May 18 SMEF Buy 1,893,304 $ 3,956,842
12 Mar 18 to 02 May 18 SMGB Buy 477,008 $ 996,898
12 Mar 18 to 02 May 18 SMHP Buy 698,499 $ 1,459,793
12 Mar 18 to 02 May 18 SMHT Buy 441,752 $ 923,219
12 Mar 18 to 02 May 18 SMIA Buy 76,295 $ 159,450
12 Mar 18 to 02 May 18 SMMS Buy 218,763 $ 457,194
12 Mar 18 to 02 May 18 SMNG Buy 32,951 $ 68,868
13 Mar 18 to 01 May 18 SMRI Buy 236,502 $ 496,016
12 Mar 18 to 02 May 18 SMRT Buy 1,080,984 $ 2,259,154
13 Mar 18 to 02 May 18 SMSF Buy 160,693 $ 336,281
13 Mar 18 to 02 May 18 SMWA Buy 20,090 $ 41,925

Total

7,000,074 $ 14,632,123
Trades on market, unless otherwise stated

Current holding
Reference Code Total no of securities
SMBF 212,726
SMCB 4,223,334
SMCS 2,070,592
SMEF 7,688,034
SMGB 1,945,567
SMHP 2,848,170
SMHT 1,801,598
SMIA 311,119
SMMS 891,595
SMNG 134,450
SMRI 609,646
SMRT 4,409,183
SMSF 444,350
SMWA 78,625
Total 27,668,989