US PRIVATE PLACEMENT NOTES – AGREEMENT OF KEY TERMS

MARKET RELEASE 1 November 2017 US$150 MILLION ISSUE OF US PRIVATE PLACEMENT NOTES SKYCITY Entertainment Group Limited has today reached agreement on a new US$150 million issue of US Private Placement (USPP) notes. The USPP issue represents the penultimate component of SKYCITY's debt funding plan for its capital investment programme in New Zealand and Australia. The final component of SKYCITY's debt funding plan is proposed to be a second New Zealand bond issue, planned for 2018. The USPP issue will comprise two tranches: o a US$100 million tranche maturing in March 2025; and o an A$65.4 million (equivalent to US$50 million) tranche maturing in March 2028. The US dollar tranche has been swapped back to New Zealand dollars to remove all currency exposure to the US dollar. The USPP issue has been priced at attractive margins relative to recent comparable issues and extends SKYCITY's average debt maturity out to 4.6 years. The transaction remains subject to execution of final documentation. Upon execution, the USPP notes will be issued in March 2018 to coincide with the maturity of US$75 million of existing USPP debt. The balance of the proceeds will initially be used to repay bank debt. For more information contact: Ben Kay Investor Relations & Corporate Development Manager DDI: +64 9 363 6067 Email: ben.kay@skycity.co.nz End CA:00309590 For:SKC Type:TRANSACT Time:2017-11-01 10:03:48