SKY Network Television: SKY Network Television : Climate-Related Disclosure 2024

Climate-Related Disclosure Report 2024 FOR THE 12 MONTHS TO 30 JUNE 2024 SKY CLIMATE DISCLOSURE STATEMENT 2024 Contents About this report Governance Strategy Risk Metrics and targets Glossary This report is dated 29 October 2024 and is signed on behalf of Sky Network Television Limited: Philip Bowman Independent Chair Keith Smith Independent Audit and Risk Committee Chair CONTENTS ABOUT THIS REPORT GOVERNANCE STRATEGY RISK METRICS AND TARGETS GLOSSARY P1 Message from the Chair and Chief Executive 3 We are pleased to present Sky's first Climate-Related We have not yet set greenhouse gas emissions reduction 5 Disclosure (CRD) Report, prepared in accordance with targets but intend to consider this in the future. We are the Aotearoa New Zealand Climate Standards (NZ CS). committed to continuing to assess our emissions profile 8 As a proudly local Aotearoa New Zealand media and options for appropriate targets. While the process and compliance elements of 19 business, Sky recognises its responsibility to take steps to reduce its impact on the environment and to ensure developing a CRD has at times been challenging and 20 its business is resilient in the face of a changing world. time-consuming, we acknowledge and support the role that climate reporting can play in prompting 28 This inaugural CRD Report sets out our understanding strategic thinking around climate impacts, and keeping of the potential risks and opportunities for our business, stakeholders informed on progress and plans. and our initial thinking on how we can adapt and respond to the challenges posed by climate change. We welcome recent moves by the External Reporting FY24 has seen us undertake significant activity in Board (XRB) to facilitate consultation with Climate Reporting Entities in New Zealand to capture feedback preparation for this first reporting phase. The process that could reduce the significant compliance burden, has involved people from all areas of our organisation, while maintaining the integrity and intent of the regime. along with input from expert external advisors. This We wholeheartedly support a direction of travel where work programme has helped to expand our collective CRDs are not just a reporting process but also an knowledge, develop and test our thinking, and take effective tool to stimulate tangible actions to reduce early steps towards creating and strengthening Sky's emissions across New Zealand companies. resilience. We recognise there is more to be done in the years ahead and are committed to this process. The significant majority of Sky's emissions footprint is within the Scope 3 category that is beyond our own operations and outside of our direct control yet reported Philip Bowman Sophie Moloney within our value chain. In FY24 we have expanded Independent Chair Chief Executive our reporting of these emissions and will continue to develop this further in FY25, whilst acknowledging the known complexities of calculating Scope 3 emissions, and the potential duplication of their reporting with other organisations. SKY CLIMATE DISCLOSURE STATEMENT 2024 CONTENTS ABOUT THIS REPORT GOVERNANCE STRATEGY RISK METRICS AND TARGETS GLOSSARY P2 Important note This report is published by Sky for the reporting period for the 12 months to 30 June 2024, and was approved by the Board on 29 October 2024 and reflects Sky's current understanding as at 29 October 2024. This report reflects Sky's current assessment of its climate related risks and opportunities, and how Sky is responding to these. This is the first time that Sky has conducted this assessment. This report has been prepared on the basis of Sky's initial climate related scenario analysis, and its understanding of, and response to, the climate-related risks and opportunities, and the current and anticipated impacts of climate change, that it has identified. Assessment of climate change risks, opportunities and impacts is an evolving challenge and involves significant uncertainty. This report necessarily contains estimates and assumptions about future external physical and transitional changes driven by climate change and their anticipated impacts on Sky's business. The approach, understanding, responses, estimates and assumptions included in this report will continue to evolve and develop over time. This report contains forward looking statements, including climate related scenarios, targets, assumptions, climate projections, forecasts, statements of Sky's future intentions, estimates and judgements. These statements have been based on Sky's current understanding of climate change, Sky's assumptions, forecasts, projections and internal planning, and are therefore subject to significant uncertainty and change. The archetypes, modelling and datasets used by Sky in the creation of its climate-related scenarios and associated outputs are highly subjective and subject to significant change as predictive modelling of the impacts of climate change improves over time. We are reliant on third party sources for the provision of the underlying data behind our scenarios. These sources have been clearly set out in the Strategy section of this report. Sky cautions against reliance on these scenarios, and on all statements in this report that are necessarily subject to significant risks, uncertainties, and/or assumptions. Sky provides no representation that any statements will not change or will remain correct after publication of the report. The risks and opportunities described in this report are based on such assumptions, and so may not eventuate or may be more or less significant than anticipated. There are many factors that could cause Sky's actual results, performance or achievement of climate-related metrics to differ materially from those described, including economic and technological viability, as well as climatic, government, consumer, and market factors outside of Sky's control. Sky has used reasonable efforts to fairly present such forward-looking statements and is committed to progressing its response to climate-related risks and opportunities over time. However, such assessments are constrained by the ever-changing and developing nature of this subject matter and the availability and quality of the information that is available to it at the date of this report. Sky remains committed to progressing its response to climate-related risks and opportunities over time, and to report progress each year, but cautions against any person's reliance on aspects of this report that are necessarily less reliable than other aspects of Sky's annual reporting. To the maximum extent permitted by law, Sky and its directors, officers, employees and contractors do not accept any liability for any loss or damage arising in any way from or in connection with any information provided or omitted as part of the climate-related disclosures. This report is for information purposes only and nothing in this report should be interpreted as guidance or advice on earnings, investment requirements, future share performance or any other legal, financial or tax advice or guidance. Unless otherwise stated, all currency amounts are in NZ dollars. SKY CLIMATE DISCLOSURE STATEMENT 2024 CONTENTS ABOUT THIS REPORT GOVERNANCE STRATEGY RISK METRICS AND TARGETS GLOSSARY P3 About this report Sky Network Television Limited (Sky) is a climate- reporting entity under the Financial Markets Conduct Act 2013. This is Sky's inaugural climate report, for the financial year ending 30 June 2024. This report complies with the Aotearoa New Zealand Climate Standards (NZ CS) issued by the External Reporting Board. Sky is committed to playing its part in addressing the challenges presented by climate change. We are in the early stages of our journey and our plans and disclosure will continue to evolve as we progress. Our focus in this first year of reporting under the NZ CS disclosure regime has been to establish appropriate frameworks and to develop our understanding of the potential impacts for our business, engaging expert advice where needed to ensure our process is robust, is able to be integrated within our business, and to allow us to identify next steps. We will continue to report our progress annually as required by NZ CS. Adoption provisions In preparing this report, Sky has applied the following adoption provisions: Adoption provision 1: Current financial impacts, noting that Sky has disclosed a preliminary view on FY24 impacts on page 8. Adoption provision 2: Anticipated financial impacts. Adoption provision 3: Transition planning, noting that Sky has disclosed progress to date as required by NZ CS 2. Adoption provision 4: Scope 3 GHG emissions, applied to a selected subset of Sky's Scope 3 emissions, as detailed on page 24. Adoption provision 6: Comparatives for metrics, noting that Sky has provided one year of comparative GHG emissions data. Adoption provision 7: Analysis of trends, noting that Sky has provided an analysis of trends in its GHG emissions data against the FY23 base year (one year). SKY CLIMATE DISCLOSURE STATEMENT 2024 Sky's business model and strategy Sky is a leading Aotearoa New Zealand-based media company. Sky has long-term rights agreements with leading local and global content rights partners including sports bodies, studios and international news organisations. Combined with Sky's own commissioned local content (through Sky Originals) and in-house production of live sport and studio shows, this positions Sky as the leading aggregator of sport and entertainment content in Aotearoa New Zealand. Sky's content is made available across our multi- platform product range which includes: Sky Box 1 and Sky Pod 2 , and Streaming services: Sky Sport Now (for sport) and Neon (for entertainment), as well as through Sky Business customers (including hospitality and accommodation providers), and free to air through Sky Open. In addition, Sky provides 'made for entertainment' broadband services through Sky Broadband.