Jeremy Darroch

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This document contains certain forward looking statements with respect to the Group’s financial condition, results of operations and business, and our strategy,

plans and objectives for the Group. These statements include, without limitation, those that express forecasts, expectations and projections, such as forecasts,

expectations and projections in relation to new products and services, the potential for growth of free-to-air and pay television, fixed line telephony, broadband and

bandwidth requirements, advertising growth, DTH and OTT customer growth, On Demand, NOW TV, Sky Go, Sky Go Extra, Sky+ HD, Sky Q, Sky Store, Sky Online, mobile,

Multiscreen and other services penetration, revenue, administration costs and other costs, advertising growth, churn, profit, cash flow, products and our broadband

network footprint, content, wholesale, marketing, synergies and integration, and capital expenditure.

These statements (and all other forward-looking statements contained in this document) are not guarantees of future performance and are subject to risks,

uncertainties and other factors, some of which are beyond the Group's control, are difficult to predict and could cause actual results to differ materially from those

expressed or implied or forecast in the forward-looking statements. These factors include, but are not limited to, the fact that the Group operates in a highly

competitive environment and faces competition from a broad range of organisations, the effects of laws and government regulation upon the Group's activities, the

fact that the Group’s business is based on a subscription model and its future success relies on building long-term relationships with its customers, its reliance on a

complex technical infrastructure which is subject to risk of failure, change and development, failure of key suppliers, the Group’s exposure to financial market risks, the

fact that the Group must protect its customer and corporate data and prevent breaches of security, risks inherent in the implementation of large-scale capital

expenditure projects, the fact that the Group relies on intellectual property and proprietary rights which may not be adequately protected under current laws or

which may be subject to unauthorised use and the fact that people at Sky are critical to the Group’s ability to meet the needs of its customers and achieve its goals

as a business.

Information on the significant risks and uncertainties is provided in the “Principal risks and uncertainties” section of Sky’s Annual Report for the full year ended 30

June 2016. Copies of the Annual Report are available from the Sky plc web page at www.sky.com/corporate and in hard copy from the Company Secretary, Sky plc,

Grant Way, Isleworth, Middlesex TW7 5QD. All forward looking statements in this document are based on information known to the Group on the date hereof. The

Group undertakes no obligation publicly to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

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VIDEO

4

5 UK and Ireland revenue excluding Sky Bet

1 94 233

380 550

776 1,008

1,249 1,434 1,545

1,847

2,231

2,681

3,069

3,465 3,810

4,111

4,504

4,908

5,275 5,854

6,496 6,627

7,018

7,377 7,820

8,371

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

+£3.1bn

+£2.6bn

+£1.9bn

+£0.8bn

Organic revenue (£m)

6

Customers

Products and customers as at 30 June and financials are 12 months to 30 June (2016 includes the 53rd week). 2008 is UK and Ireland only and 2016 is UK, Ireland, Germany, Austria and Italy.

Revenue

TV subscription revenue Other revenue

£12bn

2008 2016

£5bn

+£7bn

EPS

63.1p

2008 2016

24.9p

+38.2p

21.8m

2008 2016

9.0m

+12.8m

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8

Pay TV broadcaster

Entertainment for everyone

Broad range of packages

DTH, IPTV, OTT, Mobile

Every screen, everywhere

Triple play/quad play

Service to suit customers needs

Sports and movies centric

High reliance on big bundle

Exclusively DTH

Main TV in living room

Single play

Customer service on the phone

Broader, consumer-led business

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• Reaching 56m households - free and pay TV

• No. 1 pay TV channel portfolio - 50% share of pay viewing

• Europe’s biggest investor in content - over £5bn p.a.

• Top brands

• Best partner for rights holders

• Own production capability

• Broad distribution - all major networks

Note: Pay viewing to Sky wholly owned channels and JVs

Hooten & the Lady

10

Sky+

launches

1999-2004 2007-2009 2005-2007 2011-2012 2010-2012 2015-2016

On demand launches

3D

launches

Sky Go

launches

NOW TV

launches

Sky Store

launches

Catch up TV

rolls out

Sky Player OTT streaming

Sky+ app launches

Sky+HD

launches

Mobile TV first introduced

2013-2014

Sky+ gets biggest overhaul since launch

Sky Go Extra

launches

NOW TV Box launches

Box sets launches

Sky Adsmart launches

Buy and Keep launches

Sky Advance launches

NOW TV hybrid box

Sky Q

Sky Kids App

VR

UHD

Interactive Sky Anytime

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Which of these brands is the leader in Entertainment?

Source: Kantar research 7-10 October 2016

Base: 8,793

Question: Which one of these companies do you consider to be the leading TV entertainment company?

13% agree

2nd

1st 1st

1st

53% agree 28%

agree

56% agree

17% agree

2nd

20% agree

2nd

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Source: Kantar research 7-10 October 2016

Base: 8,793

Question: on a scale of 1-10 where 1 is not at all satisfied and 10 is extremely satisfied, how satisfied are you with your main home TV entertainment provider? Score are 6-10

Sky UK & Ireland product growth

Launch After 10 years

Broadband HD Multi-screen Sky Go Extra

Customer satisfaction

Germany & Austria

84%

Italy

92%

UK & Ireland

84%

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Original Direct To Consumer TV entertainment company

• Deep insights

– 6 hours per day in Sky universe

– 20,000 strong panel

– Data from millions of boxes

• Advanced analytics

– Specialist analysis

– Machine learning

• Combination drives performance and

competitive advantage

14

Content origination

and acquisition

Content curation

Propositions, pricing and

bundles

Sales and retention

Customer care

Viewing experience

and technology

15

£

Sourcing high res image of

Team Sky rider in wind tunnel

Sustained operating

cost improvement

Reduces costs as a percentage of sales whilst improving the customer experience

Provides fuel to invest

and deliver

higher profits

Highly effective and

productive model

Powerful application

across markets

16

Advertising

Customers

Home communications

Transactional, Rent and Buy

Mobile

Efficiency

Programme sales

TV products

HD

TV

Channel sales

17 Numbers are based on Group like-for-like

6% 6% 2% 15% Revenues Programming

investment

Other operating costs

EBIT

2010-2016 CAGR

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• Winning content portfolio

• Delivering direct to consumers at scale

• Clear brand leadership and happy customers

• Best in class sales capability

• Deep customer insights providing advantage

• Efficient and effective operations provides fuel to invest

• Financial model converts revenue growth into profit growth

Westworld

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Pay TV & comms

35% share

Advertising Transactional UK Mobile Programme &

channel sales

Total opportunity

+

7% share

+

7% share

+

27% share

+

20% share

= £60bn £15bn £2bn £3bn £11bn £29bn

For illustrative purposes only. Source: OFCOM communications report 2016; Company Results: IHS Trax Television Intelligence 2016. Programme and Channel Sales opportunity includes UK wholesale market for Sky channels and the size of UK TV

exports globally. Sky's other total revenue opportunities are the current market sizes for each of those revenue streams as sourced from various third parties.

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UK and Ireland Germany & Austria Italy

Maximise customer

lifetime value and

drive profit growth

Customer growth and

market penetration

Diversified revenue

growth and strong

operating leverage

Drive efficient and effective operating model

Invest where customers see value

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Positive and growing contribution from comms

Grow programming in line with revenues

Drive hard on operating cost efficiency

Mid to high single digit revenue growth

Operating profit growth ahead of revenue growth

EPS and FCF growth

Structured

approach to

costs

Strong & growing dividend

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Growing EPS and free cash flow

Strong and progressive dividend

Supplemented by capital returns

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• Europe's number 1 entertainment business and growing

• Track record of growth in all conditions

• Best in class capabilities built around deep customer understanding

• Significant opportunity for growth in all our markets, well aware of the challenges

• Management capability to move quickly at scale and win in dynamic markets

• Clear strategies to grow revenues, manage costs; to deliver sustained growth in

earnings and shareholder returns