Telenet Group Holding NV

Major Shareholding Notification • May 6, 2020

PRESS RELEASE

Disclosure of a transparency notification

The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 on the obligations of issuers of financial instruments admitted to trading on a regulated market.

Mechelen, 6 May 2020 – Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) hereby discloses, in accordance with article 14, first paragraph of the Law of 2 May 2007, that, on 27 April 2020 it received a transparency notification dated 27 April 2020 from BlackRock, Inc., BlackRock (Netherlands) B.V., BlackRock Advisors (UK) Limited, BlackRock Advisors, LLC, BlackRock Asset Management Canada Limited, BlackRock Asset Management North Asia Limited, BlackRock Financial Management, Inc., BlackRock Fund Advisors, BlackRock Institutional Trust Company, National Association, BlackRock International Limited, BlackRock Investment Management (Australia) Limited, BlackRock Investment Management (UK) Limited, BlackRock Investment Management, LLC and BlackRock Japan Co., Ltd., in accordance with articles 6 and 18 of the Law of 2 May 2007.

In its notification dated 27 April 2020, received on 27 April 2020, BlackRock Inc. reports that its total participation in Telenet (aggregated with its controlled undertakings listed above) has dropped below the 3% threshold on 24 April 2020.

The transparency notification received on 27 April 2020 contains the following information:

•	Reason for the notification Acquisition or disposal of voting securities or voting rights Acquisition or disposal of financial instruments that are treated as voting rights Downward crossing of the lowest threshold
•	Notification by A parent undertaking or a controlling person
•	Persons subject to the notification requirement BlackRock, Inc.	55 East 52nd Street, New York, NY, 10055, U.S.A.
	BlackRock (Netherlands) B.V.	17th Rembrandt Tower, floor, Amstelplein, Amsterdam, Netherlands
	BlackRock Advisors (UK) Limited	12 Throgmorton Avenue, London, EC2N 2DL, U.K.
	BlackRock Advisors, LLC	55 East 52nd Street, New York, NY, 10055, U.S.A.
	BlackRock Asset Management Canada Limited BlackRock Asset Management North Asia Limited	161 Bay Street, Suite 2500, Toronto, Ontario, M5J 2S1, Canada 15/F, 16/F, 17/F Citibank Tower & 17/F ICBC Tower, 3 Garden Road, Central,
	BlackRock Financial Management, Inc.	Hong Kong 55 East 52nd Street, New York, NY, 10055, U.S.A.
	BlackRock Fund Advisors	400 Howard Street, San Francisco, CA, 94105, U.S.A.
	BlackRock Institutional Trust Company, National Association BlackRock International Limited BlackRock Investment Management (Australia) Limited	400 Howard Street, San Francisco, CA, 94105, U.S.A. Exchange Place One, 1 Semple Street, Edinburgh, EH3 8BL, U.K. Level 26, 101 Collins Street, Melbourne, VIC 3000, Australia

BlackRock Investment Management (UK) Limited BlackRock Investment Management, LLC BlackRock Japan Co., Ltd. 1-8-3 Marunouchi Chiyoda-ku, Trust

12 Throgmorton Avenue, London, EC2N 2DL, U.K. 1 University Square Drive, Princeton, NJ, 8540, U.S.A. Tower Main, Tokyo, 100-8217, Japan

• Date on which the threshold is crossed 24 April 2020
• Threshold that is crossed 3%
• Denominator 114,656,785

• Notified details

A)	Voting rights	Previous notification	After the transaction
		# voting rights	# of voting rights		% of voting rights
	Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
	BlackRock, Inc.	0	0		0.00%
	BlackRock (Netherlands) B.V.	7,574	7,574		0.01%
	BlackRock Advisors (UK) Limited	528,596	561,777		0.49%
	BlackRock Advisors, LLC	19,426	19,426		0.02%
	BlackRock Asset Management Canada Limited	34,795	34,795		0.03%
	BlackRock Asset Management North Asia Limited	1,722	1,187		0.00%
	BlackRock Financial Management, Inc.	35,504	35,140		0.03%
	BlackRock Fund Advisors	651,595	650,001		0.57%
	BlackRock Institutional Trust Company, National Association	1,048,235	1,046,938		0.91%
	BlackRock International Limited	945	945		0.00%
	BlackRock Investment Management (Australia) Limited	20,178	20,178		0.02%
	BlackRock Investment Management (UK) Limited	302,744	259,150		0.23%
	BlackRock Investment Management, LLC	134,230	82,696		0.07%
	BlackRock Japan Co., Ltd.	314,700	51,186		0.04%
	Subtotal	3,100,244	2,770,993		2.42%
		TOTAL	2,770,993	0	2.42%	0.00%

B) Equivalent financial instruments	After the transaction
Holders of equivalent financial instruments	Type of financial instrument	Expiration Date	Exercise period or date	# of voting rights that may be acquired if the instrument is exercised	% of voting rights	Settlement
BlackRock Advisors (UK) Limited	Securities Lent			78,758	0.07%	physical
BlackRock Advisors, LLC	Contract for Difference			113,638	0.10%	cash
BlackRock Financial Management, Inc.	Contract for Difference			16,134	0.01%	cash
BlackRock Institutional Trust Company, National Association	Contract for Difference			38,764	0.03%	cash
BlackRock Investment Management (UK) Limited	Contract for Difference			9,157	0.01%	cash
BlackRock Investment Management, LLC	Contract for Difference			195,587	0.17%	cash
	TOTAL			452,038	0.39%
TOTAL (A & B)				# of voting rights	% of voting rights

• Full chain of controlled undertakings through which the holding is effectively held

3,223,031 2.81%

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock (Singapore) Holdco Pte. Ltd. BlackRock HK Holdco Limited BlackRock Lux Finco S.a.r.l. BlackRock Japan Holdings GK BlackRock Japan Co., Ltd.

BlackRock, Inc. Trident Merger, LLC BlackRock Investment Management, LLC

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock Holdco 3, LLC BlackRock Cayman 1 LP BlackRock Cayman West Bay Finco Limited BlackRock Cayman West Bay IV Limited BlackRock Group Limited BlackRock Finance Europe Limited BlackRock Investment Management (UK) Limited

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock Australia Holdco Pty. Ltd. BlackRock Investment Management (Australia) Limited

BlackRock, Inc.

BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock Holdco 3, LLC BlackRock Cayman 1 LP BlackRock Cayman West Bay Finco Limited BlackRock Cayman West Bay IV Limited BlackRock Group Limited BlackRock International Limited

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock Holdco 4, LLC BlackRock Holdco 6, LLC BlackRock Delaware Holdings Inc. BlackRock Institutional Trust Company, National Association

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock Holdco 4, LLC BlackRock Holdco 6, LLC BlackRock Delaware Holdings Inc. BlackRock Fund Advisors

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc.

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock (Singapore) Holdco Pte. Ltd. BlackRock HK Holdco Limited BlackRock Asset Management North Asia Limited

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock Holdco 3, LLC BlackRock Canada Holdings LP BlackRock Canada Holdings ULC BlackRock Asset Management Canada Limited

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock Capital Holdings, Inc. BlackRock Advisors, LLC

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock Holdco 3, LLC BlackRock Cayman 1 LP BlackRock Cayman West Bay Finco Limited BlackRock Cayman West Bay IV Limited BlackRock Group Limited BlackRock Finance Europe Limited BlackRock Advisors (UK) Limited

BlackRock, Inc. BlackRock Holdco 2, Inc. BlackRock Financial Management, Inc. BlackRock International Holdings, Inc. BR Jersey International Holdings L.P. BlackRock Holdco 3, LLC BlackRock Cayman 1 LP BlackRock Cayman West Bay Finco Limited BlackRock Cayman West Bay IV Limited BlackRock Group Limited BlackRock Finance Europe Limited BlackRock (Netherlands) B.V.

• Additional information

The disclosure obligation arose due to total holdings for BlackRock, Inc. going below 3%.

The full text of this notification is also available on our investor website: https://investors.telenet.be.

Contacts
Investor Relations:	Rob Goyens	rob.goyens@telenetgroup.be	+32 15 333 054
	Bart Boone	bart.boone@telenegroup.be	+32 15 333 699
Press & Media:	Stefan Coenjaerts	stefan.coenjaerts@telenetgroup.be	+32 15 335 006
Legal:	Bart van Sprundel	bart.van.sprundel@telenetgroup.be	+32 15 333 495

About Telenet – As a provider of entertainment and telecommunication services in Belgium, Telenet Group is always looking for the perfect experience in the digital world for its customers. Under the brand name Telenet, the company focuses on offering digital television, high-speed Internet and fixed and mobile telephony services to residential customers in Flanders and Brussels. Under the brand name BASE, it supplies mobile telephony in Belgium. The Telenet Business department serves the business market in Belgium and Luxembourg with connectivity, hosting and security solutions. More than 3,000 employees have one aim in mind: making living and working easier and more pleasant. Telenet Group is part of Telenet Group Holding NV and is quoted on Euronext Brussel under ticker symbol TNET. For more information, visit www.telenet.be. Liberty Global - one of the world's leading converged video, broadband and communications companies, innovating and empowering people in six countries across Europe to make the most of the digital revolution – owns a direct stake of 57.9% in Telenet Group Holding SA/NV (excluding any treasury shares held by the latter from time to time).

Additional Information – Additional information on Telenet and its products can be obtained from the Company's website http://www.telenet.be. Further information regarding the operating and financial data presented herein can be downloaded from the investor relations pages of this website. The Company's Consolidated Annual Report 2019 as well as unaudited condensed consolidated interim financial statements and presentations related to the financial results for three months ended March 31, 2020 have been made available on the investor relations pages of the Company's website (https://investors.telenet.be).

This document has been released on 6 May 2020 at 6:00 pm CET