NZME welcomes NZ First announcement

MARKET ANNOUNCEMENT 12 December 2019 NZME welcomes NZ First announcement AUCKLAND, 12 December 2019: NZME Limited (NZX: NZM, ASX: NZM) ("NZME") welcomes the announcements made by NZ First leader and Deputy Prime Minister Winston Peters this morning. Mr Peters expressed NZ First's support for the Kiwi Share proposal NZME submitted to Government earlier this year in relation to a potential acquisition of Stuff. As Mr Peters said, the Kiwi Share proposal includes a commitment to maintain certain mastheads and an undertaking to protect journalists' jobs. The details for these commitments are still being finalised. Mr Peters went on further to say that the proposal "is in the greater public interest and the national interest". NZME looks forwarding to progressing the Kiwi Share proposal with Government and submitting an application for clearance to the Commerce Commission. NZME remains in discussion with Nine regarding a potential transaction but emphasises that these discussions remain preliminary and there can be no certainty that these discussions or the Kiwi Share proposal will result in any transaction. NZME remains in compliance with its continuous disclosure obligations and will provide further information to the market as required. ENDS For further information: Julia Belk Investor Relations Manager NZME T: +64 21 2408997 Email: julia.belk@nzme.co.nz About NZME NZME is a leading New Zealand media and entertainment business that reaches more than 3.2 million Kiwis. Whether reading, listening, or watching, our audience gets the content they want - where and when they want it. NZME offers advertisers a unique opportunity to access its growing audience via a fully integrated multi-platform presence. NZME is listed on the NZX Main Board (code NZM) with a foreign exempt listing on the ASX (code NZM). www.nzme.co.nz End CA:00345879 For:NZM Type:GENERAL Time:2019-12-12 10:56:48