ANNUAL MEETING OF SHAREHOLDERS

19 October 2018

Client Market Services
NZX Limited
Level 1, NZX Centre
11 Cable Street
WELLINGTON

Copy to:

ASX Market Announcements
Australian Stock Exchange
Exchange Centre
Level 6
20 Bridge Street
Sydney NSW 2000
AUSTRALIA


Dear Sir/Madam

RE: SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)
ANNUAL MEETING OF SHAREHOLDERS

Please find attached a copy of the presentation to be delivered at the company’s
annual meeting of shareholders to be held at 10.00am (New Zealand time) in
Auckland today.

A copy of the presentation and the video presentation that will be screened at the
annual meeting will be available to view from SKYCITY’s website later today.


Yours faithfully

Jo Wong
Company Secretary

Annual Meeting
19 October 2018

2018 Annual Meeting
Meeting duly convened
Quorum present
Minutes of 2017 Annual Meeting available on SKYCITY’s website

Sequence of Meeting
Presentation from Chairman and CEO
Presentations from Chairs of Board Committees
General Q&A session on management and operations of business
Four resolutions and questions relating to the resolutions
Refreshments

Rob Campbell, Chairman
&
Graeme Stephens, CEO

FY18 Key Achievements
Record financial performance
Improved operational
performance at all properties
Completed refresh of
Group strategy
Successfullyprogressed
key strategic initiatives
Increased focus on sustainability
and wellbeing
Focused on
executing strategic plan

Board’s Commitment
Approve and oversee medium term strategy
oFocus on capital allocation and shareholder value
High performance management team
Risks identified and managed
Governance and accountability prioritised
Sustainability and community focus

Board Activity
Strong Committee work programmes
Attention to major projects and health & safety
Focus on gaming industry and governance issues
Accountability of management for achieving goals and alignment
with shareholders

Diversity
(1) Information based on collected data during FY18

CEO Milestones
Management team established
Met key stakeholders
Positive FY18 result
Completed refresh of Group strategy and commenced
implementation

Refreshed Group Strategy

Long-Term Value Creation

FY18 Result
FY18FY17
Movement
$m$m$m%
Normalised N PAT169.9153.816.110.4%
Normalised EPS
25.4cps23.4cps2.0cps8.5%
)
Reported NPAT169.5
44.9124.6277.9%
Reported EPS25.3cps6.8cps
18.5cps272.1%
Total Dividend NZ$ DPS20.0cps20.0cps0.0cps0.0%

FY18 Highlights
Record Group result
Record performance in International Business, Auckland and
Hamilton
Improved performance in Adelaide and Darwin
Strong 2H18 electronic gaming machine (EGM) performance
Cost focus driving margin improvement
On-going investment in ICT
Total dividend of 20cps

Year to Date Trading
Trends from 2H18 have continued into FY19
Trading update on 12 November (UBS Investor Conference)

Key Strategic Initiatives
NZICC & Horizon Hotel
Continuing progress on the NZICC and Horizon Hotel project
over the past six months
Remains a challenging project - likely to be further delays to
completion beyond December 2019
Further update once greater certainty around completion dates

Key Strategic Initiatives
Adelaide expansion on-time and on-budget
Marketing for potential sale of Auckland car parks commenced
Potential sale of Darwin nearing conclusion
Auckland, Hamilton and Queenstown master planning
progressing well
Progressing strategy to grow hotels business

Key Strategic Initiatives
Exploring options to develop offshore-based online casino
Broadening entertainment offering - Let’s Play Live & All Blacks
On-going investment in ICT/digital
Group-wide review of brand, customer relationship
management (CRM) and loyalty
Upweighted focus on corporate social responsibility (CSR) pillars

FY19 Focus
Improve operating performance and team quality
Execute major projects effectively
Conclude asset sales
Progress key strategic initiatives
Continue to better governance and enhance sustainability and
wellbeing initiatives

Closing Remarks
Platform created to unlock value
Positive momentum in business
Focus on capital allocation and shareholder value
Seeking to maximise existing assets before go looking for more
Strive to be a good corporate citizen

Bruce Carter
Chair of Audit & Risk Committee

Committee’s Activities in FY18
Audit tender concluded
Scope expanded to cover all risks
Clean audit report
Clean IRD review
Focus on conduct risk and risk culture

Key Issues for Committee in FY19
New accounting standards -revenues and leases
Managing key risks
“Capital lighter” focus
Capital structure review
Climate change risks and reporting

Sue Suckling
Chair of Corporate Social
Responsibility Committee

Committee’s Activities in FY18
Review of corporate social responsibility (CSR) framework and
pillars

Committee’s Activities in FY18
Our people
oSnapshot of diversity at SKYCITY
Our customers
oLeading host responsibility

Key Issues for Committee in FY19
Our community
oYouth development and pathways to employment
Our environment
oMeasuring and reporting our carbon footprint
oReduction of waste
Our suppliers
oEthical, local and sustainable supply chain

Murray Jordan
Chair of Remuneration &
Human Resources Committee

Short Term Incentive (STI) outcome delivered in restricted
share rights
Review of variable remuneration structure
Re-design of Long Term Incentive (LTI) Plan
Review of Non-Executive Director Remuneration Policy
Proposal for ~5% increase to Non-Executive Director fee pool
Remuneration Initiatives

Focus on diversity and inclusion
Representation of women in senior management positions
Commitment to a $20 minimum wage in NZ by 2020
Human Resources Initiatives

General Questions
from Shareholders
(not relating to the resolutions)

Voting
Voting by way of poll
517 million proxy votes (representing 76% of all voting
securities) received by 10am on Wednesday 17 October

Proxy Count

Resolution 1
Re-election of Director: Bruce Carter
Appointed to Board in October 2010
Independent
Board unanimously recommends that
shareholders vote in favourof his
election

Resolution 2
Re-election of Director: Richard Didsbury
Appointed to Board in July 2012
Independent
Board unanimously recommends that
shareholders vote in favourof his
election

Resolution 3
Increase in Directors’ Fees
Increase in total pool from $1,365,000 (plus GST, if any) to
$1,440,000 (plus GST, if any) for each financial year
Increase of $75,000 (plus GST, if any) or ~5% effective from
1 July 2018

Resolution 4
Remuneration of Auditor
Authorise the Directors to fix the auditor's remuneration
PricewaterhouseCoopers continues as the auditor of SKYCITY

Conclusion
Place completed voting papers in one of the ballot boxes
If you need a voting paper, please see Computershare in the
foyer after the meeting
Results advised to NZX/ASX later today
Close of meeting
Refreshments

Disclaimer
All information included in this presentation is provided as
at 19 October 2018
This presentation has not taken into account any particular
investors investment objectives or other circumstances.
Investors are encouraged to make an independent
assessment of SKYCITY