SKY NETWORK TELEVISION LIMITED. — Major Shareholding Notification 2017

Dec 20, 2017

KILTEARN PARTNERS LLP

Exchange Place 3 3 Semple Street Edinburgh EH3 8BL Telephone 0131 460 1040 Facsimile 0131 202 0661

Investor Relations

SKY Network Television Ltd 10 Panorama Road Mt Wellington PO Box 9059, Newmarket Auckland, New Zealand

20 December 2017

Dear Investor Relations,

We act as an Investment Manager for a number of commingled funds and separate accounts (our "Clients"). In acting for our Clients, we are given full discretion over their investments, and are empowered to vote on their behalf. However, Kiltearn do not act as their Custodian, and therefore shares are not held in our name, but in the nominee name of their Custodian Bank.

Recent purchases/sales of your shares by ourselves, on behalf of our Clients, have resulted in our having control over the following shares and voting rights (also see attached):

KILTEARN	51,623,954
Our records show that SKY Network Television Ltd has the following shares in that class:
SKY Network Television Ltd	389,139,785

For your information, we exercise control over 13.27% of the shares and 13.27% of the voting entitlements as of 20 December 2017. The Kiltearn Global Equity Fund exercises control over 8.34% of the shares as a result of recent purchases.

Yours Faithfully,

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Robert McGinty Compliance

Registered Office: Exchange Place 3, 3 Semple Street, Edinburgh, EH3 8BL Partnership Registration Number: SO303158 AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY

Company:

SKY Network Television Ltd

Attention:

Investor Relations

Share Class:

ORDINARY

Address:

10 Panorama Road Mt Wellington PO Box 9059, Newmarket Auckland, New Zealand

Issued Shares:

389,139,785

KP Ownership: 51,623,954

Trade Date:

19th December 2017

KP Voting Ownership:

51,623,954

% of Shares Voting Rights: 13.27 389,139,785

% of Voting Entitlements

13.27

KP Account	Nominee	Kiltearn Current	% Holding at
		Share Holding	Fund Level
KILTEARN GLOBAL EQUITY FUND	Northern Trust Co	32,447,892	8.34%
651 Holiday Drive, Suite 300
Pittsburgh, Pennsylvania 15220
USA
KILTEARN GLOBAL EQUITY SRI FUND	Northern Trust Co	3,188,930	0.82%
651 Holiday Drive, Suite 300
Pittsburgh, Pennsylvania 15220
USA
KILTEARN GLOBAL EQUITY (IRELAND) FUND	Northern Trust Co	8,245,436	2.12%
c/o Northern Trust Fund Services (Ireland) Limited
George’s Court, 54-62 Townsend Street
Dublin 2, Ireland
SEPARATE ACCOUNTS	Separate Account Custodians	7,741,696	1.99%
c/o Kiltearn Partners LLP
Exchange Place 3, 3 Semple Street
Edinburgh, EH3 8BL
TOTAL		51,623,954	13.27%