Investor Presentaiton

For personal use only GROUP REPORTED STATUTORY RESULTS $ millions FY18 FY18 Var. FY17 (excl. Impairment) Revenue Expenses EBITDA EBITDA Margin 654.1 654.1 690.8 (5.3%) (499.4) 154.7 154.7 23.6% 23.6% (499.4) (513.4) 2.7% 177.4 (12.8%) 25.7% Depreciation & Amortisation (30.7) (30.7) (30.9) 0.5% Impairment EBIT (104.7) 19.3 124.0 146.5 (15.4%) Net Finance Costs (14.8) (14.8) (18.8) 21.2% PBT 4.5 109.2 127.7 (14.5%) Tax Underlying NPAT (3.0) (33.9) (33.9) 1.5 75.3 Deferred Tax Credit 93.8 (19.7%) (14.8) NPAT 1.5 75.3 108.6 (30.6%) Impairment of Regional TV assets - $105m charge less $31m deferred tax credit Statutory result impacted by NNSW sale - divested May 2017 Revenues up 0.6% (exc. NNSW TV) Expenses driven by higher transmission and electricity costs. Non-recurring items from H1 FY17 ($5m) Finance costs reduced 21% or $4m year on year Effective tax rate has normalised at ~31% SOUTHERN CROSS AUSTEREO 8 absolutely engaging

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