Sky ASM 2021 – Chairman’s and Chief Executive’s Address

Sky New Zealand
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28 October 2021







Sky Annual Shareholders’ Meeting

Chairman’s and Chief Executive’s Address and Presentation

28 October 2021


The 2021 Annual Meeting of Sky Network Television Limited (Sky) will be held today,
Thursday 28 October 2021, commencing at 10:00am (NZDT). Due to the current Covid
related restrictions, the Board has determined a physical meeting is inappropriate in the
circumstances and to hold a virtual only meeting.

Shareholders and guests can participate in the Annual Meeting virtually through the
Computershare Meeting Platform https://meetnow.global/nz using a smartphone, tablet or
desktop device. To access the meeting, click ‘GO’ under the Sky Network Television Limited
meeting and then click ‘JOIN MEETING NOW’. The meeting platform, allows shareholders
and guests to watch the meeting, with shareholders and proxyholders also able to vote and
ask questions online. Please refer to the attached Virtual Meeting Guide for more
information. Shareholders should note they will need to enter their CSN/Securityholder
Number if they wish to vote or ask questions online.

Copies of the Chair’s and Chief Executive’s addresses and presentation are attached. A
replay of the Annual Shareholders’ Meeting will be made available on Sky’s website following
the event.

Authorised by: James Bishop, Company Secretary
For further information, please contact:
James Bishop
Company Secretary
+64 21 630 630
james.bishop@sky.co.nz
Chris Major
Director of External Affairs
+64 29 917 6127
chris.major@sky.co.nz

---

Sky 2021 Annual Shareholder Meeting – 28 October 2021
Chair’s Address

Good morning. My name is Philip Bowman, and as Chairman it is my pleasure to welcome you to
Sky’s Annual Shareholders’ Meeting for 2021.

I bid a warm welcome to all shareholders, proxy holders, and other guests who have joined our
meeting today, whether in New Zealand or from around the world.

I am advised that we have a quorum present, and I therefore declare our Annual Shareholders’
Meeting open. I am also pleased to officially open online voting.

I am joined today by our Chief Executive Sophie Moloney, our interim Chief Financial Officer, Andrew
Hirst, James Bishop our Company Secretary (whom you have already met) and fellow board
members.
- Keith Smith
- Joan Withers
- Mike Darcey
- And Geraldine McBride
Members of Sky’s Leadership team are also in attendance today, and I also welcome representatives
from our auditors, PricewaterhouseCoopers and our corporate solicitors, Chapman Tripp.

Turning to the format of today’s meeting:
- I will shortly comment on the 2021 fiscal year as well as our plans for the current year.
- I will then pass the virtual lectern over to Sophie, who will provide more detail on the
significant progress the management team made in fiscal 2021, including a summary of our
financial performance and our priorities for the coming period.
- We will then move to the formal business of the meeting. There are three resolutions as set
out in the Notice of Meeting, including the re-election of Geraldine McBride. I will ask
Geraldine to make some brief remarks at that time.
- Finally, I will open the floor for questions from you, our shareholders. James has explained
the process for submitting questions, and Sophie and I look forward to the opportunity to
engage in a good discussion.
When I addressed the virtual shareholder meeting last year, I expressed the hope that we would be
able to gather and socialise normally at the meeting this year. Evidently, we cannot, with Auckland in
lockdown for over ten weeks and counting. The long term adverse psychological damage to citizens
of repeated lockdowns, coupled with the massive damage to so many businesses and livelihoods
across New Zealand, casts a long shadow over today’s meeting. Governments across the world need
to reflect on the decisions taken to manage this pandemic once the present crisis is past.

Against this background, I am pleased to report that so far Sky has weathered the latest challenges
well, and I would like to thank Sophie and the whole Sky team for its professional and agile response
to the latest lockdown. With New Zealanders restricted to their homes for many weeks, Sky has
provided more than daily entertainment – we have also informed, comforted and distracted, and
from the feedback from some of our customers, Sky has been a key source of company and a vital
connection to the world.

Lifting the rate of vaccination is vital to New Zealand being able to emerge from the current
restrictions. We are strongly encouraging every member of our team, as well as our contractors, to
get vaccinated. The Board is very supportive of initiatives by management to work with other major
businesses to drive the ‘get vaccinated’ message, including the use of our different platforms and
talent to reach as wide an audience as possible, and our involvement in the campaign to trial rapid
antigen testing alongside key Auckland businesses is another area of focus.

Viewership has been high across our Sky Box, as well as our Neon and Sky Sport Now streaming
services. Whilst the lockdown at Level Four temporarily restricted our ability to meet the installation
needs of new Sky customers, churn rates have continued to reduce and are 12.2% compared to
12.6% a year ago. Sophie can provide more colour on this as needed.

That said, we are acutely aware that the Covid restrictions have been particularly hard for our
commercial customers in the hospitality and accommodation sectors and we continue to support
these customers through these difficult times, valuing the long-term strength and symbiosis of these
partnerships.

Despite the many external challenges, our results for the first quarter of our financial year remain in
line with the Board’s expectations and the guidance provided at the time of our FY21 results
announcement, back in August. Against this background, let us reflect briefly on the previous
financial year.

It was encouraging to present a result in August that exceeded the Board’s earlier expectations. Part
of the out-performance arose from underlying operating improvements, and part from one-off
items. The delivery of a strong result suggests that the transformation strategy that we have
outlined over the past year, including in my remarks to you at last year’s ASM, is beginning to bear
fruit.

It also reflects the hard work of the Sky team under the leadership of Sophie, who became Chief
Executive on 1st December last year and who has worked tirelessly for our business and for you, our
investors. It is encouraging to see the management team, under Sophie’s leadership, so committed
to our customers and with such determination to reposition our business in a rapidly changing media
sector.

Sophie will take you through the details of the last year, but I would like to make some observations
from a Board perspective.

We have a clear strategy, one that is tailored to the unique characteristics of the New Zealand
market but also draws on our knowledge of and relationships with comparable businesses (including
Sky in the UK and Foxtel across the Tasman). Sky has a clear and unique role to play as the preferred
aggregator of content for New Zealand customers, and as a trusted partner for local and global
counterparties.

At its core, Sky is an entertainment company, connecting our customers with the great sport and
entertainment they love, through the delivery mechanism that works for them, and with a strategic
advantage of being able to reach New Zealanders wherever they live in this country.

We have recalibrated our strategy as Sky looks to transition to growth, and believe that success will
be achieved by focusing on four pillars:

• Nurturing and growing our Sky Box and streaming customers
• Being the preferred partner for key rightsholders, content creators and distributors
• Growing existing and new revenue streams, whilst reducing operating costs aggressively by
challenging our historic operating practices; and
• Creating a culture and environment where Sky crew are empowered to deliver their best.

Everything we do is informed by customer insight, and data is the cornerstone of our decision-
making. As a Board, we are seeing an enhanced level of strategic assessment and reporting from the
Executive team as a result of this firm focus on customer insight and the investment we have made
in data analytics over the past two years.

Looking to the future, I see 2022 as an inflection point in terms of business performance. It is a year
of investment to fuel future growth. Delivering the new hybrid Sky Box is critical to our plans to
cement Sky’s role as the preferred aggregator in the New Zealand market. Developing Sky
Broadband is another key area of investment. The Executive team is firmly focused on successfully
executing these projects and the Board is monitoring the initiatives closely, given past experience
with complex technology projects. Equally important is the ongoing review of our operating model
to adjust this to changes in the marketplace. Management has already developed and delivered
significant sustainable cost savings and is focused on delivering further improvements in the second
half of FY22 and beyond.

As outlined at the June investor day, our three-year targets also show a firm focus by management
to reshape the business, grow revenues and reduce the cost base, whilst continuing to deliver
positive free cash flow. Put simply, execution is the key word for FY22 – we have the strategy, we
have the content that matters to our customers, and we must now deliver.

Earlier this year we initiated a process to monetise all or part of our property holdings at Mt.
Wellington. While the level 4 lockdown restrictions forced Colliers to delay the sale process, I can
report that good progress has been made in recent weeks. The response from the market confirms
that the Board made the correct decision to re-frame the scope of the property offer to include all of
our buildings on the site. Management, supported by external consultants, are finalising a property
strategy that includes significantly downsizing our Mt Wellington footprint, a higher-profile presence
in a central Auckland site, alongside a commitment to an ‘anywhere works’ programme that enables
many of our crew to work flexibly between their homes and the Company’s sites. Once
implemented we will provide a workspace that supports cultural change, facilitates new ways of
collaboration and working, and better meets the needs of our team.

Several shareholders have asked for more clarity on the Board’s strategy for capital management,
including the possibility of reinstating regular dividends or a possible share buy-back. The Board is
committed to recycling capital to reinvest in areas of the business that create the most value for our
customers and, ultimately, our shareholders. Subject to satisfactory completion of the property sale
process, the Board will finalise a capital management strategy and provide details of this at the time
of the Interim Results announcement in February 2022.

I commented in my Annual Report letter that we had commissioned Propero Consulting to
undertake an independent Board evaluation and following discussion of the output of this review,
the Board agreed to appoint at least one new director during FY2022. A formal process, managed by
an external search firm, has been commenced.

In conclusion, I will now ask our Chief Executive to present her report on 2021 and the opportunities
and the challenges that she sees for 2022 and beyond. But before I do this, I wish to reiterate my

thanks, and those of my board colleagues, for your continued interest and support for our business
as Sky shareholders. The Board and the Executive team are very focussed on the task to transform
and reposition this business, with a firm focus on growing revenue, reducing costs, and executing on
our strategy to exceed the expectations of our customers, our partners, the community, and you,
our investors.

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Sky 2021 Annual Shareholder Meeting – 28 October 2021
Chief Executive’s Address


Thank you Philip and good morning everyone. I’m Sophie Moloney and it is my privilege to address
you today as your Chief Executive.

I join Philip in thanking you for your support in the past year, and I welcome the opportunity to share
with you our plans for the business in the coming period, as well as our review of the past year.

We’re on a transformation journey here at Sky, and we are clear on the game plan for success. My
focus – and that of my entire team – is to execute on that plan with determination.

I have a few things to share with you today in that regard, but first I’ll take a few moments to recap
on FY21.

You will have seen the details in our Results presentation in August, and in our Annual Report, so I
will only focus on some key points.

We were pleased to report strong EBITDA and NPAT that were both slightly above the increased
guidance range provided to the market.

As noted on this slide, revenue was $711 million, EBITDA was $186 million, and Net Profit after Tax
was $47.5 million, with operating costs of $538 million – which was a pleasing 8% improvement on
the prior year.

As the Chair indicated, the strong results were in part due to underlying operating improvements,
and in part from one-off items including the sale of OSB (our outside broadcast unit) as well as some
Covid-related content cost savings. Adjusting for these items, our Net Profit after Tax was still ahead
by 15% against the prior year.

And I am proud to say that we ended the year with a superb 955,168 customer relationships, of
which well over half a million are our valuable Sky Box customers.

But my key message at the half year – and now – is that while the results are good, we can and must
do better. This coming year is an inflection point for Sky (of the positive kind) as we look to
transform the business, absorbing higher programming rights fees and, at the same time, growing
revenues and reducing operating costs. More on that shortly.

Our four key Strategy pillars involve Our Customers, Our Content, Our People and of course our
Financial Performance, which I have just touched on. Let’s briefly look at the year’s achievements in
the other three areas, starting with our Customers.

Customers:

- FY21 saw us deliver pleasing growth of 16% in our underlying customer numbers.

- We have made significant progress towards stabilising our Sky Box base, with 15% growth in
customer activations and further positive improvement in customer churn as the Chair has

already mentioned.

- At the same time, we’ve also seen a continuation of the impressive growth in our streaming
services with a 57% increase in streaming customers on a like-for-like basis, with both Neon and
Sky Sport Now going from strength to strength.

- And, earlier this year, we had the highly successful launch of Sky Broadband, ‘built for
entertainment’, with customer satisfaction scores remaining very positive right through the first
billing cycle. Maintaining high levels of satisfaction on broadband really matters. In a highly
competitive market customers have options. A strong focus on execution excellence has meant
we are exceeding our customers’ expectations, as we look to build a sustainable, long-term
business.

Content:

- Turning then to our content.

- It’s been immensely satisfying to have secured key, strategically-important rights deals - with
(among others) the NRL and NZRL on the sports side and Warner Media/HBO on the
entertainment side, the latter being secured just in time for the Level 4 lockdown.

- For the first time in a long while we are in a position where there are no significant content
rights renewals looming.

- We have secured the rights that matter for our customers, and it’s great to be heading into a
period where our focus is on delivering our superb content to our customers and adding value to
our partners, rather than chasing down significant rights deals.

- I can safely say that our success in renewing and securing these multiyear deals is not just about
the size of the cheque, it’s also about Sky’s credibility as a trusted, multi-platform, content
partner.

- But, rather than hearing it from me, please hear directly from some of those key partners.

One exciting aspect of the Warner deal that we just heard about from Michael is an agreement
between Sky Originals and the NZ-based arm of Warner Brothers International to collaborate on four
co-productions. It’s great to be able to work together with a globally recognised brand to produce
quality local content and to support the New Zealand creative sector.

This continued investment in Sky Originals confirms the important role we have to play – as a local
kiwi business – in creating content ourselves. Telling New Zealand stories, for and about New
Zealanders, is a special privilege for Sky Originals and for our free-to-air channel: Prime.

We are grateful for the funding support Prime and Sky Originals receive from New Zealand on Air,
and look forward to more collaborations in the coming period as Sky refocuses its efforts on this vital
free-to-air channel available to all New Zealanders.

People:

Last but certainly not least, let’s talk about our People:

- I was impressed and inspired by the way our teams handled the Covid-19 disruptions in the FY21
year, and of course we’re back dealing with similar restrictions now. The drive to continue to
deliver for our customers and to ‘keep the show on the road’ is truly humbling.

- While there is more to be done, we are making good progress towards being a place where our
crew are empowered to do their best work.

- That has included the collaborative process with our crew to create our Sky values, and there
remains a real focus on becoming a more inclusive workplace.

- In terms of people being able to do their best work, it was hugely exciting to see the success of
our creative promos team at the Promax ANZ Awards late last week with multiple entries picking
up richly-deserved recognition! Those of you who watched our FY21 Results will have seen our
‘More’ video that was one of the promos that received a gold Promax at the Awards.

As I reflect on FY21, I firmly believe we have the runway we need to succeed.

And, on that note, let’s start looking ahead at our Financial Performance and targets for FY22 and
beyond, starting with revenue.

FY22 is the first time in a number of years that we are talking about a return to revenue growth at
Sky.

Our target for the coming year is revenue growth of up to $35 million, which is a strong step towards
the 3-year goal of $75 to $100 million annually by FY24.

This revenue growth comes from improvements across the business from Sky Box and streaming,
the recovery of Sky Commercial and Sky Advertising revenue, subject to the current Covid outbreak,
and a significant contribution from new business revenues (including Sky Broadband).

We also expect to see streaming revenue growth outstripping the decline in Sky Box revenue for the
first time in FY22. We remain very focused on stabilising and then, with our new box, growing the
Sky Box base.

A second key focus in FY22 is reducing our operating costs and doing so in a sustainable and
permanent way.

We noted in the Results presentation that we are targeting at least $10-15 million of non-
programming cost savings per annum within three years, and I have challenged myself and the team
to ensure that is the minimum we deliver.

Reducing our cost lines (including capex) is a crucial part of our transformation journey as we strive
to secure sustainable free cash flow levels which can lead to better capital management and
shareholder returns as the Chair also referenced in his earlier remarks.

Right now, we are undertaking a rigorous exercise to test every dollar we spend at Sky. I have
brought in the former CFO of Foxtel, James Marsh, to provide an expert external eye as we drive
ourselves to re-examine every cost line, especially any and all third party spend. I have been
impressed with the way Foxtel has achieved sustainable cost management without compromising on
their customer promise, and I am pleased to be able to tap into that experience to explore what we
can achieve here at Sky.

It is my expectation that we will have completed the scrutiny of the budget by the end of the
quarter, and I will share any findings and deeper cost savings at that time as appropriate.

In any event, as the Chair mentioned in his address, despite the curve ball of Covid-19, we are
tracking well after the first quarter of the financial year and remain on track to meet our Guidance.

The third key focus area for FY22 – to support revenue growth and a lower cost operating model –
is the delivery of our new Sky Box. This is a crucial part of our strategy to be the preferred content
aggregator in the New Zealand market, and we are on target to have it in customer homes in the
middle of the 2022 calendar year.

It’s much more than a box upgrade – it’s the centre of Sky’s new connected entertainment
experience that seamlessly brings together all Sky and free to air content alongside popular content
Apps.

The combination of Satellite and internet technology delivers the ultimate in high-quality, reliable
video and audio, to every connected home in New Zealand.

And, having access to all of your favourite sports and entertainment in one place, with one remote
(that can be activated by voice), is the game-changer that our customers tell us they’re looking for.

Here, we have a sneak peek for you on what the new Sky Box will look like from the outside...

I am sorry this is a virtual meeting today, as I was hoping to show you this prototype in the flesh so
to speak but this image will have to suffice. This is the form factor we’ve already signed off – our
customers helped choose the fresh white finish.

I might add that I had the opportunity to listen to the recent Foxtel strategy presentation and noted
the emphasis they are placing on their new iQ5 box to super-serve their satellite base. While our
strategies are not identical, as the markets we serve have unique characteristics, it is good to see our
friends across the Tasman also focusing on strengthening the base with an impressive new box, and I
look forward to providing further updates on our future technology roadmap in the next reporting
cycle.

Before I close, I want to touch briefly on three additional areas that are important to us, and which I
believe are important to you as our investors too.

The first is our commitment to being a good corporate citizen and continuing to give back to the
communities in which we operate. There is much we already support through sponsorships and
other mechanisms and I now want to see us bring these existing and new initiatives under an
overarching programme of ‘Sport for Good’ and ‘Sky for Good’. This is not about a big above the line
spend but about the utilisation of our platforms, our talent and working closely with key partners for
the greater good. I look forward to sharing more on these initiatives in the coming period.

The second is also about being a good corporate citizen in the environmental space. As I committed
in my Annual Report letter, I have established a team to lead our sustainability journey, including
reporting on our progress in FY22. I know that commitment to reporting and improving on
environmental factors is valued by many investors, (as well as our customers and staff) and we
commit to doing a better job of letting you know what Sky is doing in this important area.

The third is about rewarding our loyal customers – some of whom have been with us since we
launched 31 years ago! Like much of what we now do, we have asked our customers (through our
Sky Nation panel) what they would value in this space, and in the coming period we will deliver a
series of initiatives to thank and recognise those Sky Box customers who are the strategic strength of
our business.

Just as it is important to thank our customers for their ongoing loyalty and support, I want to
acknowledge and thank our people for their commitment and hard work. In particular, I’d like to
thank Andrew Hirst for ably fulfilling the CFO role on an interim basis as we undertook a recruitment
process. And, as we recently announced, I am delighted to have secured Tom Gordon as our new
Chief Financial Officer who will join the Sky team in December.

May I also take a moment to thank each of our Board members for their guidance, strategic input
and dedication to our business, and my personal thanks to the Chair, in particular, for his superb
support to me no matter the time of day or night!

Finally, and perhaps most critically, I confirm my belief that if we deliver value to our customers, our
crew, and our partners, we will in turn deliver value to you, our investors. I am absolutely committed
to executing on our plan and achieving or exceeding the outcomes we have outlined today, and I
want to thank you all for you continued support.

And now back to you, Chair.

ENDS

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© SKY 2021
2021 Annual Meeting
of Shareholders
28 October 2021

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Welcome!

Title
Philip Bowman
Independent Chair
Sophie Moloney
Chief Executive Officer
Keith Smith
Independent Director
Joan Withers
Independent Director
Mike Darcey
Independent Director
Geraldine McBride
Independent Director
Andrew Hirst
Interim Chief Financial Officer
6
Board and Executives

Agenda
Chair’s Address
Chief Executive’s Address
Formal Business -resolutions
General Business -shareholder questions
7

© SKY 2021
Chair’s Address

Chief Executive’s
Address

FY 2021 At a Glance
FINANCIAL
CUSTOMER
TOTAL CUSTOMER
RELATIONSHIPS
955,168
SKY BOX CUSTOMERS
554,690
GROWTH IN STREAMING
CUSTOMERS
2
57%
REVENUE
$
711.2m
5%
EBITDA
$
186.4m
14%
Adjusted
1
3%
OPERATING EXPENSES
(includes one offs)
$
538.3m
8%
Adjusted
1
5%
NPAT
$
47.5m
130%
Adjusted
1
15%
1
A reconciliation between reported and adjusted figures is set out on page 39 of Sky’s 2021 Annual Report.
2
On a like for like basis, excluding Lightbox wholesale at FY 2020.

Nurture and grow
our Sky Box and
Streaming
customers
Our Strategy
Be the preferred
partner for
rightsholders,
content creators
and distributors
Grow revenues
and reduce
operating costs
Be a place where
our crew are
empowered to do
their best work
Our Customers
CONTENTFINANCIALPEOPLE
We connect New Zealanders with the sport and entertainment
they love, in ways that work for them, right across the country
WHAT
MATTERS
MOST:
CUSTOMERS
WHAT DO
WE DO:
WHAT
WE’RE
FOCUSING
ON:
11
THE “BEDROCK”
OF OUR BUSINESS:
Rapid and sustained execution, and
enabling our people to succeed
Being an efficient, adaptive and
profitable business

12
FY 2021 Achievements: Customers
16% growth in underlying
1
customer numbers
during FY 2021
Significant progress towards stabilising Sky
Box customer base
Continued growth in Streaming customers,
up 57%
1
in FY 2021
Successful launch of Sky Broadband
Nurture and grow our Sky Box and Streaming customers
1
On a like for like basis, excluding Lightbox wholesale at FY 2020.

13
Secured key content that matters to New
Zealanders, including: Discovery, ESPN,
NRL, NZRL, ICC World Test Championship,
ViacomCBS, NBCUniversal, Foxtel
Recent confirmation of multi-year
WarnerMediadeal, home of HBO
FY 2021 Achievements: Content
Be the preferred partner for rightsholders, content creators and distributors

14
Homegrown‘Sky Originals’ productions
Telling local stories, for and about New Zealanders

15
Sky crew committed to delivering superbly
for customers despite Covid disruptions
Sky Values developed collaboratively
Recognition of achievements of our people,
including at the recent Promax Awards
FY 2021 Achievements: People
Be a place where our crew are empowered to do their best work

Stabilising Sky Box
customers and returning
to growth, including
through the new Sky Box
Continuing to deliver the
content that matters to
customers
Investing50-60% of
capex in growth initiatives
by FY24
Growing revenue by
$75-$100m+ p.a. by
FY24
Maintaining capex within
a long term average of
7-9% of revenue
Maintaining positive free cash flow throughout
Achieving annualised
non-programming opexsaving
of $10-$15m p.a. by FY24
1
Growing Neonand Sky
Sport Now customers
by 10% –15% CAGR
Sky’s three-year targets include:
1
Excluding broadband and net of inflation

Grow Revenue:
Revenue growth targets include:
FY 2022 Target3 Year Target (by 2024)
Churn
1
reduced to
11.5-12%
At least
$75-$100mp.a.
Stabilise and then
grow Sky Box
customers:
Grow Streaming
revenue:
$5-$35mp.a.
10-25% CAGR
Churn
1
reduced to
10%
10-25% CAGR
1
Annualised churn

Programming costs
to total revenue:
Maintainingcapex
within long term
average range:
Annualised non-
programming
opexsaving
1
:
Cost reductiontargets include:
FY 2022 Target3 Year Target (by 2024)
At least
$10-$15m p.a.
At least
$5-$10mp.a.
Within
7-9% of revenue
7-8.5% of revenue
Within
45-50% of revenue
Within
50-55% of revenue
1
Excluding broadband, net of inflation

19
In homes by mid-2022
Cementing Sky’s position as preferred content aggregator
Combining Satellite and IP technology
All your Sky content and apps in one place
New Sky Box delivery on track
The centre of Sky’s new connected entertainment experience

20

21
We’re encouraging New Zealanders to
participate and engage in sport through
‘Sport for Good’, and we’re contributing to
our communities through ‘Sky for Good’
We’re committed to playing our part in
tackling environmental issues
We’re continuing to listen to our customers,
and committed to rewarding their loyalty
Being a good kiwi company
Through social responsibility initiatives and customer reward programmes

Thank you!

Formal Business

Resolution 1
That the Board be authorisedto
fix the auditor’s remuneration for
the ensuing year
24
Auditor’s remuneration

Resolution 1
That Geraldine McBride,
who retires at the
Annual Meeting and is
eligible for re-election, be
re-elected as a director
of the Company
25
Director Re-election

Resolution 1
To amend the Company’s constitution
in the manner described in the
explanatory notes, with effect from
the close of the Annual Meeting
26
Amendment to the Constitution

Q&A
Formal Business

© SKY 2021
Q&A:
General Business

Thank you!

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disclaimerappliestothisdocumentandtheverbalorwrittencommentsofanypersonpresentingit.
InformationinthispresentationhasbeenpreparedbytheCompanywithduecareandattention.However,neithertheCompanynoranyofits
directors,employees,shareholdersnoranyotherpersongiveanywarrantiesorrepresentation(expressorimplied)astheaccuracyorcompletenessof
thisinformation.Tothemaximumextentpermittedbylaw,noneoftheCompany,itsdirectors,employees,shareholdersoranyotherpersonshallhave
anyliabilitywhatsoevertoanypersonforanyloss(including,withoutlimitation,arisingfromanyfaultornegligence)arisingfromthispresentationor
anyinformationsuppliedinconnectionwithit.
Thispresentationmaycontainprojectionsorforward-lookingstatementsregardingavarietyofitems.Suchprojectionsorforward-lookingstatements
arebasedoncurrentexpectations,estimatesandassumptionsandaresubjecttoanumberofrisks,anduncertainties,includingmaterialadverse
events,significantone-offexpensesandotherunforeseeablecircumstances.Thereisnoassurancethatresultscontemplatedinanyofthese
projectionsandforward-lookingstatementswillberealised,noristhereanyassurancethattheexpectations,estimatesandassumptionsunderpinning
thoseprojectionsorforward-lookingstatementsarereasonable.Actualresultsmaydiffermateriallyfromthoseprojectedinthispresentation.No
personisunderanyobligationtoupdatethispresentationatanytimeafteritsreleaseortoprovideyouwithfurtherinformationabouttheCompany.
TheCompanyhasusedthenon-GAAPfinancialmeasureEBITDAandhaspresentedadjustedresultswhendiscussingfinancialperformance,asthe
directorsandmanagementbelievethatthesemeasuresprovideusefulinformationontheunderlyingperformanceoftheCompany.EBITDAisdefined
bytheCompanyasearningsbeforeincometax,interestexpense,depreciation,amortisationandimpairment,unrealisedgainsandlossesoncurrency
andinterestrateswaps.AdjustmentsmadetoSky’sGAAPfinancialmeasuresnormalisedfornon-recurringcostsandnon-cashimpairments,andare
describedinmoredetailherein.Youshouldnotconsiderthisinisolationfrom,orasasubstitutefor,theinformationprovidedintheaudited
consolidatedfinancialstatementsforthetwelvemonthsended30June2021,whichareavailableathttps://www.sky.co.nz/investor-relations/results-
and-reports.
Theinformationinthispresentationisofageneralnatureanddoesnotconstitutefinancialproductadvice,investmentadviceoranyrecommendation.
Thepresentationdoesnotconstituteanoffertosell,orasolicitationofanoffertobuy,anysecurityandmaynotberelieduponinconnectionwiththe
purchaseorsaleofanysecurity.Nothinginthispresentationconstituteslegal,financial,taxorotheradvice.
Disclaimer
30

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Attending the meeting online
Our online meeting provides you the opportunity to
participate online using your smartphone, tablet or computer.
If you choose to attend online you will be able to view a live
webcast of the meeting, ask questions and submit your
votes in real time.
You will need the latest v
ersion of Chrome, Safari,
Edge or F irefox. Please ensure your browser is
compatible.
HOW TO PARTICIPATE IN VIRTUAL/HYBRID MEETINGS
Visit https://meetnow.global/nz
When successfully authenticated, the home screen
will be displayed. You can watch the webcast, vote,
ask questions, and view meeting materials in the
documents folder. The image highlighted blue
indicates the page you have active.
The webcast will appear and begin automatically
once the meeting has started.
Voting
Resolutions will be put forward once voting is
declared open by the Chair. Once the voting has
opened, the resolution and voting options will appear.
To vote, simply select your voting direction from the
options shown on screen. You can vote for all
resolutions at once or by each resolution.
Your vote has been cast when the green tick appears.
To change your vote, select ‘Change Your Vote’.
Q&A
Any eligible shareholder/proxy attending the meeting
r
emotely is eligible to ask a question.
S
elect the Q&A tab and type your question into the
box at the bottom of the screen and press 'Send'.
Navigation
Access
Access the online meeting at
https://meetnow.global/nz, and select the required
meeting. Click 'JOIN MEETING NOW'.
If you are a shareholder:
Select 'Shareholder' on the login screen and enter
your CSN/Holder Number and Post Code. If you are
outside New Zealand, simply select your country
from the drop down box instead of the post code.
Accept the Terms and Conditions and click Continue.
If you are a guest:
Select Guest on the login screen. As a guest, you will
be prompted to complete all the relevant fields
including title, first name, last name and email
address.
Please note, guests will not be able to ask questions
or vote at the meeting.
If you are a proxy holder:
You will receive an email invitation the day before the
meeting to access the online meeting. Click on the
link in the invitation to access the meeting.
Contact
If you have any issues accessing the website please
c
all +64 9 488 8700.