SPH Notice – New Zealand Rugby Union Incorporated (NZRU)

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Disclosure of beginning to have substantial holding
Section 276, Financial Markets Conduct Act 2013
To NZX Limited
and
To Sky Network Television Limited (Sky)
Date this disclosure made: 1 November 2019
Date on which substantial holding began: 1 November 2019
Substantial product holder(s) giving disclosure
Full name(s): New Zealand Rugby Union Incorporated (NZRU)

Summary of substantial holding
Class of quoted voting products: Ordinary shares in Sky
Summary for NZRU
For this disclosure,—
(a) total number held in class: 21,801,325
(b) total in class: 436,026,518
(c) total percentage held in class: 5.000% (see further details below)
Details of relevant interests
Details for NZRU
Nature of relevant interest(s): Legal title to 21,801,325 ordinary shares in Sky, subject to
a restriction deed between Sky and NZRU dated 14 October 2019 (Restriction Deed).
For that relevant interest —
(a) number held in class: 21,801,325
(b) percentage held in class: 5.000% (see further details below)
(c) current registered holder(s): N/A (issue of new shares)
(d) registered holder(s) once transfers are registered: N/A
Details of transactions and events giving rise to substantial holding
Details of the transactions or other events requiring disclosure: The issuance to NZRU of
21,801,325 fully paid ordinary shares in Sky (which is less than 5% on an absolute basis
but, which when rounded to 3 decimal places, is 5.000%), subject to certain restrictions
under the Restriction Deed, pursuant to certain partnership arrangements between Sky
and NZRU to which the Restriction Deed relates.

A copy of the Restriction Deed is attached (7 pages).

2
Additional information
Address(es) of substantial product holder(s): Level 4, 100 Molesworth Street, Thorndon,
Wellington, New Zealand
Contact details: Keith Binnie, +64 27 471 7308, Keith.Binnie@nzrugby.co.nz


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:
Sky Network Television Limited

Certification
I, Keith Binnie, 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.