Sky announces revolutionary broadcast deal for SANZAAR

Sky is delighted to announce that it has reached agreement on a revolutionary broadcast deal with the New Zealand, Australian, South African and Argentinian Rugby Unions. The agreement was reached on the evening of Sunday 13 October, and is subject to Sky shareholder approval, as outlined in the Special Resolution in the Notice of Meeting for the Sky AGM. The new deal will see Sky deepen its investment in all levels of rugby and New Zealand Rugby (NZR) to become a shareholder in Sky. It extends Sky's existing SANZAAR broadcast rights to 2025. The five-year agreement includes: o The rights to broadcast rugby in NZ from 2021 to 2025 o A record investment by Sky in New Zealand and SANZAAR rugby o NZR becoming a 5% shareholder in Sky. The broadcast rights include exclusive coverage of all Investec Rugby Championship, Steinlager Series, Investec Super Rugby, Mitre 10 Cup and all New Zealand's other domestic competitions. Sky will deliver outstanding rugby content to New Zealanders in ways that work for individuals, including streaming, broadcast over the satellite and free-to-air on Prime. It is the only partner in this market that can deliver to every New Zealander across all three platforms. The deeper partnership between NZR and Sky cements the shared commitment to nurture and grow the game in New Zealand at all levels. The 5% equity stake to be taken by NZR recognises the increased alignment and strengthened relationship between Sky and NZR, their mutual support for one another and shared commitment to develop and promote the game. If Sky shareholders approve the Special Resolution in the Notice of Meeting for the Sky AGM, the 5% equity stake will involve Sky issuing 21,801,325 fully paid ordinary shares (ranking equally with Sky's existing ordinary shares) to NZR on 1 November 2019 as part consideration for the additional partnership arrangements and commitments between Sky and NZR in relation to New Zealand rugby. No further specific shareholder approval will be sought in connection with the proposed share issue. While the rights fees are confidential to the parties, Sky notes the rugby rights have materially increased from our current arrangements. Now that Sky has greater certainty on other key rights, it is working the details into its revised forecasts. Sky anticipates being able to provide earnings guidance around the time of the February 2020 interim results. Sky will seek shareholder approval (as outlined in the Special Resolution) at the AGM on Thursday 17 October. Media announcements, including video comments from NZR CEO Steve Tew and Sky CEO Martin Stewart, will be available https://www.sky.co.nz/media. For further information, please contact: Kristy Martin Media Engagement Manager 021 840 018 kristy.martin@sky.co.nz Sophie Moloney Chief Legal Officer and Company Secretary Sky Network Television Limited (09) 579 9999 Sophie.moloney@skytv.co.nz End CA:00342538 For:SKT Type:GENERAL Time:2019-10-14 08:31:13