NZME LIMITED — Earnings Release 2016

Feb 23, 2017

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----- Start of picture text ----- NZME LimitedResults for announcement to the marketReporting Period 12 months to 31 December 2016Previous Reporting Period 12 months to 31 December 2015Amount (000s) Percentage changeRevenue from ordinary $NZ 407,856 -5.2%activitiesProfit (loss) from ordinary $NZ (50,552) -392.3%activities after taxattributable to securityholderNet profit (loss) $NZ 74,543 73.8%attributable to securityholdersFinal Dividend Amount per security Imputed amount persecurityNZ 6.0 cents NZ 2.3333 cents [i]----- End of picture text -----

i A supplementary dividend of NZ 1.0588 cents per security will be payable to shareholders who are not tax resident in New Zealand and who hold less than 10% of the shares in NZME Limited.

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----- Start of picture text ----- Record Date 11 April 2017Dividend Payment Date 28 April 2017----- End of picture text -----

Final DividendAmount per securityImputed amount persecurityNZ 6.0 centsNZ 2.3333 centsiiA supplementary dividend of NZ 1.0588 cents per security will be payable to shareholders who are not tax residentin New Zealand and who hold less than 10% of the shares in NZME Limited.Record Date11 April 2017DividendPaymentDate28April 2017	Final DividendAmount per securityImputed amount persecurityNZ 6.0 centsNZ 2.3333 centsiiA supplementary dividend of NZ 1.0588 cents per security will be payable to shareholders who are not tax residentin New Zealand and who hold less than 10% of the shares in NZME Limited.Record Date11 April 2017DividendPaymentDate28April 2017
Comments:	For the 12 months to 31 December 2016, NZMELimited’s reported loss from ordinary activities after taxwas NZ$ 50.6 million compared to a loss of NZ$10.3 inthe comparative period. The loss from ordinaryactivities contains some significant non-repeating taxadjustments in relation to the settlement of historicalmatters with the IRD.The net profit after tax for the year to 31 December2016 of NZ$ 74.5 million, including non-controllinginterest profit of NZ$ 13.9 million relating to the first sixmonths prior to the demerger from APN, includes theimpact of the demerger from APN in June 2016. This isup 73.8% for the comparative period.Net assets per share as at 31 December 2016 was NZ$ 1.46 compared to NZ$ 3.22 as at 31 December 2015.Net tangible assets per share as at 31 December 2016was NZ$ (0.23) compared to NZ$ 0.18 as at 31December 2015

Refer to the attached audited Consolidated Financial Statements for the year ended 31 December 2016 for NZME Limited and its subsidiaries and the Results Presentation for a more detailed analysis and explanation.