GTN LIMITED — Major Shareholding Notification 2018

Sep 20, 2018

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21 September 2018

Market Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

GTN Limited – Sell down by GTCR

GTN Limited ( Company ) has been informed that GTCR Gridlock II (Cayman), LP ( GTCR ) has today sold 89,063,081 ordinary shares in the capital of the Company.

As a result, GTCR will no longer hold any shares in the Company.

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Anna Sandham Company Secretary GTN Limited Level 42, Northpoint 100 Miller Street North Sydney NSW 2060

DocuSign Envelope ID: C24D9CD5-DF6B-424D-971C-391F685CBE91

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21 September 2018

Board of Directors GTN Limited Level 42 Northpoint 100 Miller Street North Sydney NSW, Australia Dear Sir/ Madam

Reduction in shareholding in GTN Limited (ASX:GTN)

We are writing to inform you that GTCR Gridlock II (Cayman), LP (GTCR) has entered into a block trade agreement with Macquarie Capital (Australia) Limited providing for the sale of 89,063,081 of its shares in GTN today via an underwritten block trade.

GTCR will no longer hold any shares in GTN after the sale.

A change of substantial holder notice will be lodged by GTCR shortly.

Yours sincerely

GTCR GRIDLOCK II (CAYMAN), L.P.

By: GTCR Gridlock Partners, Ltd. Its: General Partner By: Name: Mark M. Anderson

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300 N. LaSalle St. Suite 5600 Chicago, IL 60654 p. 312.382.2200 f. 312.382.2201 www.gtcr.com