NZME LIMITED — M&A Activity 2016

Sep 21, 2016

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NZME AND FAIRFAX NZ MERGER: OIO CONSENT GRANTED

SYDNEY and AUCKLAND, 22 September 2016 : NZME Limited (NZX:NZM, ASX:NZM) (“ NZME ”) and Fairfax Media Limited (ASX:FXJ) (“ Fairfax ”) are pleased to confirm that consent has been granted by the Overseas Investment Office (“ OIO ”) to the proposed merger of NZME and Fairfax NZ. The OIO will publish a decision summary in respect of the consent on its website in due course.

The merger remains conditional on NZME shareholder and New Zealand Commerce Commission approval, among other matters.

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For further information:

NZME

Fairfax Media Limited

Investors: Investors and Media: Michael Boggs Brad Hatch Chief Executive Officer, NZME Director of Communications T: +64 9 367 6123 Fairfax Media Limited Email: Michael.Boggs@nzme.co.nz +64 27 453 7780 Brad.Hatch@fairfaxmedia.co.nz

Media: Liza McNally Chief Marketing Officer, NZME M: +64 21 944 989 Email: Liza.McNally@nzme.co.nz

About NZME

NZME is one of New Zealand’s leading media and entertainment businesses with its brands connecting with over 3 million kiwis[1] . Whether reading, listening, watching or engaging with NZME brands, they can get the content they want - where and when they want it. NZME is listed on the NZX Main Board with a foreign exempt listing on the ASX. www.nzme.co.nz

About Fairfax New Zealand

Fairfax NZ is an integrated multi-media business with leading brands across multiple platforms, including stuff.co.nz (New Zealand’s number one local digital news brand[2] ); a share of neighbourly.co.nz; more than 60 metro, Sunday, regional and community newspapers, lifestyle magazines; and a fast-growing events business. Fairfax Media is recognised for its digital innovation with its brands reaching more than 3.5 million New Zealanders every month[3] . www.fairfaxmedia.co.nz

1 Nielsen CMI, fused database: February 2016 (based on population 10 years +). Based on unduplicated weekly reach of NZME newspapers, radio stations, and monthly domestic unique audience of NZME’s digital channels 2 Nielsen Market Intelligence domestic traffic August 2016

3 Nielsen CMI 10+ Q2 2015 – Q1 2016