NZME LIMITED — Major Shareholding Notification 2016

Jul 26, 2016

Disclosure of beginning to have substantial holding

Section 276, Financial Markets Conduct Act 2013

To NZX Limited and

To NZME Limited ( NZME )

Date this disclosure made: 26 July 2016

Date on which substantial holding began: 30 June 2016

Substantial product holder(s) giving disclosure

Full name(s): News Limited

Summary of substantial holding

Class of quoted voting products: NZME ordinary shares (NZX: NZM)

Summary for News Limited

For this disclosure,—

• (a) total number held in class: 29,381,521

• (b) total in class: 196,011,282

• (c) total percentage held in class: 14.99%

Details of relevant interests

Details for News Limited

Nature of relevant interest(s): Register holder and beneficial owner

For that relevant interest,—

• (a) number held in class: 29,381,521

• (b) percentage held in class: 14.99%

• (c) current registered holder(s): News Limited

• (d) registered holder(s) once transfers are registered: N/A

Details of transactions and events giving rise to substantial holding

Details of the transactions or other events requiring disclosure: On 30 June 2016, News Limited acquired a relevant interest, as legal and beneficial owner, in 22,325,238 NZME ordinary shares, as a result of the distribution of NZME ordinary shares by APN News & Media Limited to its shareholders. It also acquired a relevant interest, as beneficial owner, in 7,056,283 NZME ordinary shares, as a result of the distribution of NZME ordinary shares by APN News & Media Limited to its shareholders (the shares were distributed to Dervat Nominees, who held the shares as nominee for News Limited).

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On 10 July, the 7,056,238 NZME shares held by Dervat Nominees were transferred to News Limited for nil consideration, who now holds those shares legally and beneficially.

Additional information

Address(es) of substantial product holder(s): 2 Holt Street, Surry Hills, NSW, 2010, Australia

Contact details: News Limited, Owen O'Connor, Company Secretary, + 61 2 9288 3108, owen.oconnor@news.com.au

Name of any other person believed to have given, or believed to be required to give, a disclosure under the Financial Markets Conduct Act 2013 in relation to the financial products to which this disclosure relates: N/A

Certification

I, Ian Philip, director, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made.

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