SPH Notice – Allan Gray Australia Pty Ltd

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Disclosure of ceasing to have substantial holding
Section 279, Financial Markets Conduct Act 2013
To New Zealand Stock Exchange
and
To NZME Limited
Date this disclosure made: 6 September 2018
Date last disclosure made: 5 September 2018
Date on which substantial holding ceased: 5 September 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 previous substantial holding
Class of quoted voting products: Ordinary Shares
Summary for Allan Gray Group
For last disclosure,—
(a) total number held in class: 11,502,912
(b) total in class: 196,011,282
(c) total percentage held in class: 5.869%
For current holding after ceasing to have substantial holding,—
(a) total number held in class: 0
(b) total in class: 196,011,282
(c) total percentage held in class: 0%
Details of transactions and events giving rise to ceasing of substantial holding
Details of the transactions or other events requiring disclosure: On market acquisitions and
disposals of shares in NZME Limited by Allan Gray Group between 5 September and 5
September, as set out in Annexure B.
Additional information
Address of substantial product holders: C/- Allan Gray Australia, Level 2, Challis House. 4
Martin Place Sydney, New South Wales 2000, Australia
Contact details: Eugene Tan, telephone: +61 2 8224 8627, email: eugene.tan@orbis.com

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Nature of connection between substantial product holders: As investment manager for the
funds or investment mandates listed at Table 2 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: Not applicable.
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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NZME Limited
THIS IS ANNEXURE A OF 2 PAGES REFERRED TO IN THE ABOVE FORM
Print name Eugene Tan Company Secretary
Sign here

Date: 6 September
2018

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 Management (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

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No Fund name Manager Code Registered holder Persons entitled to be registered
holder
15. Statewide Superannuation Trust AGA SMSW NAB Custodial Services as
custodian for SMSW
Statewide Superannuation Pty Ltd as
SMSW’s trustee
16. 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
17. 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
18. 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
19. Orbis Global Equity Fund Limited OIML OGEF Citigroup Fund Services Canada,
Inc (Citi Canada) as OGEF’s
custodian
OGEF
20. Orbis Optimal SA Fund Limited OIML OSAP Citi Canada as OSAP’s custodian OSAP
21. Institutional Global Equity Fund OIML IGEF Citi Canada as IGEF’s custodian IGEF
22. Orbis Optimal LP OIML OOLP Citi Canada as OOLP’s custodian OOLP
23. Orbis International Equity LP OIML IELP Citi Canada as IELP’s custodian IELP
24. Orbis Institutional Global Equity LP OIML OGLP Citi Canada as OGLP’s custodian OGLP
25. Orbis Institutional International Equity
LP
OIML ONLP Citi Canada as ONLP’s custodian ONLP
26. Orbis Institutional U.S. Equity LP OIML USLP Citi Canada as USLP’s custodian USLP
27. Orbis Institutional Emerging Markets
Equity LP
OIML EMLP Citi Canada as EMLP’s custodian EMLP
28. Orbis SICAV – Global Equity Fund OIML SGPL Citibank International plc
(Luxembourg Branch) (Citi Lux)
as SGPL’s custodian
SGPL
29. Orbis SICAV – Asia- Ex Japan Fund OIML XJPL Citi Lux as XJPL’s custodian XJPL
30. Orbis SICAV – Global Balanced Fund OIML GBSA Citi Lux as GBSA’s custodian GBSA
31. Orbis SICAV – International Equity OIML SNPL Citi Lux as SNPL’s custodian SNPL
32. Orbis OEIC Global Equity Fund OIML UKGE Citi Lux as UKGE’s custodian UKGE
33. Orbis Institutional Global Equity
(OFO)
OIML OGEO Citi Canada as OGEO’s custodian OGEO

100080615/3821107.1 5
NZME Limited
THIS IS ANNEXURE B OF 1 PAGE REFERRED TO IN THE ABOVE FORM
Trade Date Reference Code Action No of security Consideration
05 Sep 18 SMCB Sell -1,010,224 -$ 601,083
05 Sep 18 SMCS Sell -275,275 -$ 163,789
05 Sep 18 SMEF Sell -5,025,643 -$ 2,990,258
05 Sep 18 SMGB Sell -870,803 -$ 518,128
05 Sep 18 SMHP Sell -1,227,362 -$ 730,280
05 Sep 18 SMHT Sell -293,334 -$ 174,534
05 Sep 18 SMMS Sell -154,194 -$ 91,745
05 Sep 18 SMRT Sell -2,646,077 -$ 1,574,416

Total

-11,502,912 -$ 6,844,233
All transactions conducted on market except as otherwise specified.