Dispatch of Retail Entitlement Offer Booklet

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES 27 May 2020 Dispatch of Retail Entitlement Offer Booklet Sky Network Television Limited (Sky) advises that today it will dispatch the entitlement offer document (Offer Document) and personalised entitlement and acceptance form to Sky shareholders eligible to participate in the retail component of Sky's 2.83 for 1 pro-rata accelerated non-renounceable entitlement offer (Retail Entitlement Offer) as announced to NZX and ASX on 21 May 2020. A copy of the Offer Document was lodged on NZX and ASX on the same date. The Retail Entitlement Offer opens today and closes at 5.00pm (NZST) or 3.00pm (AEST) on Tuesday, 9 June 2020 (unless extended). The Retail Entitlement Offer is available to certain eligible retail shareholders with an address shown on Sky's share register as being in New Zealand or Australia at 7.00pm (NZST) or 5.00pm (AEST) on Monday, 25 May 2020 (Eligible Shareholders). Eligible Shareholders are being invited to subscribe for new shares at an offer price of NZ$0.12 per share (or the A$ price of A$0.11 per new share). Ineligible shareholders will receive a letter explaining why they will not be able to participate in the Retail Entitlement Offer. A copy of that letter is attached to this announcement. Eligible Shareholders wishing to participate in the Retail Entitlement Offer should carefully read the Offer Document for further information regarding the Retail Entitlement Offer. Further information For any questions in respect of the Retail Entitlement Offer, please call the Sky Offer Information Line on 0800 650 034 (within New Zealand) or +61 03 9415 5000 (within Australia) between 8.30am and 5.00pm Monday to Friday during the Retail Entitlement Offer period. For other questions, investors should consult their broker, solicitor, accountant, financial adviser or other professional adviser. Authorised by: Sophie Moloney, Company Secretary For further information, please contact: Sophie Moloney Chief Legal Officer and Company Secretary Sky Network Television Limited (09) 579 9999 sophie.moloney@sky.co.nz Chris Major Director of External Affairs Sky Network Television Limited (09) 579 9999 Chris.major@sky.co.nz Not for distribution or release in the United States This announcement has been prepared for publication in New Zealand and Australia, and may not be distributed or released in the United States. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities in the United States. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "US Securities Act") or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States or to any person acting for the account or benefit of any person in the United States, except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable securities laws of any state or other jurisdiction of the United States. In particular, the securities to be offered and sold in the Retail Entitlement Offer have not been, and will not be, registered under the US Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States or to any person acting for the account or benefit of a person in the United States. ENDS End CA:00353762 For:SKT Type:OFFER Time:2020-05-27 08:32:19