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Q3 Results May 2012

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Forward looking statements

This document contains certain forward-looking statements with respect to the Group's financial condition, results of operations and business, and management’s 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, revenue, profit, cash flow, product penetration, our broadband network footprint, content, wholesale and returns to shareholders.

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 that is subject to rapid change, the effects of laws and government regulation upon the Group's activities, its reliance on technology which is subject to risk of failure, change and development, the fact that the Group is reliant on encryption and other technologies to restrict unauthorised access to its services, failure of key suppliers, 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, the risks associated with the Group generating wholesale revenue principally from one customer, the risks associated with the Group being subject to a number of medium and long-term obligations and the Group’s exposure to the European financial crisis.

Information on the significant risks and uncertainties are described in the "Principal risks and uncertainties" section of Sky's Annual Report for the full year ended 30 June 2011 and Interim Report for the half year ended 31 December 2011. Copies of the Annual Report and Interim Report are available from the British Sky Broadcasting Group plc web page at www.sky.com/corporate. All forward-looking statements in this presentation 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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Consistent execution delivering strong growth

•  Strong start to calendar 2012

•  Offering customers the best TV content and leading innovation

•  Continued growth in households; strong demand for products across the board

•  Marketing focus on home communications delivered well

•  Excellent financial results

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Q3 Growth (000s) Total Base (m) Churn and ARPU

More customers taking more products

Q3 growth for the three months to 31 March. Total base as at 31 March. ARPU and churn quarterly annualised for the 3 months to 31 March.

73 78

2011 2012

801 904

Customers Products

+13%

Customers Products

24.6 27.7

2011 2012

10.2 10.5

£537

10.4%

10.1%

£546

2011 2012

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Strongest ever quarter for home communications

•  Focus for marketing in Q3 – with successful results

•  Best proposition backed by leading service

•  Now even better with launch of WiFi and Fibre

Combined product additions of broadband, talk and line rental for the 3 months to 31 March.

Home Communications Q3 Product Growth (’000s)

Broadband, Talk, Line Rental Product Growth

387

543

702

2010 2011 2012

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Britain’s favourite triple play provider

Customers taking each of TV, broadband and telephony as at 31 March. Source: Virgin Media company data. Triple play customers excluding non-cable and mobile operations. BT company data. BT Vision installed base for period to 31 December 2011.

Sky Virgin Media BT

0.8m

1.4m

1.9m

2.6m

3.2m

2008 2009 2010 2011 2012

3.1m

0.7m

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Strong execution of plans: highlights from the quarter

Prepare for launch of NOW TV

Launch Formula 1 channel

Invest in UK programming

Extend and build on Sky Go

Broaden on-demand content

Add further choice in broadband

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Continued focus on efficiency

•  Investing where customers see value

•  £53m reduction in operating costs

•  Driving revenue growth and expanding margin

43.9%

2010 2011 2012

Operating margin Direct Costs Other Operating Costs

43.7%

41.1% 38.4%

15.0% 17.9%

Nine months ended 31 March. Adjusted for exceptional items and from continuing operations.

16.3%

42.2%

41.5%

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Strong financial performance

•  5% revenue growth without increasing prices

•  Margin expansion of 160bps to 17.9%

•  Completed £387 million of £750 million buyback

Nine months ended 31 March. Adjusted for exceptional items and from continuing operations.

£ million 2012 2011 Growth

Revenue 5,078 4,833 +5%

Direct Costs 2,219 2,039 +9%

Other Operating Costs 1,951 2,004 -3%

Operating Profit 908 790 +15%

EPS (pence) 37.8p 30.5p +24%

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Premier League

•  Awaiting ITT

•  Clear on what we want to do

•  More details post outcome

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Summary

•  Strong operational and financial performance

•  Growing base of loyal and valuable customers

•  Success in home communications

•  Investing more in areas that customers care about

•  Higher revenue, profits and returns to shareholders

12 Q&A

13 Appendix

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Reconciliation between adjusted & reported profit

£ Million

2012 2011 Income Statement line

Adjusted Profit After Tax 655 532

In Operating Profit:

Living TV restructuring costs - (26) Admin

Net recovery of costs in relation to News Corp proposal 31 (12) Admin

31 (38)

Below Operating Profit:

Profit on disposal of joint venture 7 - JVs & Associates

Mark-to-market gains 13 16 Interest

Revolving credit facility fee write off (5) - Interest

Tax credit relating to network operations retained from Easynet business - 15 Tax

Tax effects (12) 3 Tax

3 34

Reported Profit After Tax 689 528

Nine months ended 31 March.

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Consistent priorities for uses of capital Financial Flexibility

•  A source of value for a growth company

•  Operating in a fast moving environment

•  Allowed returns to grow across periods of investment

•  Maintain strong BBB credit rating

•  Track record on capital returns

•  Open to further returns when appropriate

Uses of Capital

•  Organic growth - “highly accretive, low risk”

•  Selective M&A - “disciplined approach, strong track record of returns”

•  Regular dividends - “clear dividend policy, valued by shareholders”

•  Special distributions - “balance sheet efficiency”

Source: Full year results presentation, 29 July 2011.

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Share repurchase

•  Announced on 29 Jul 2011

•  Shareholder approval at AGM on 29 Nov 2011

•  Commenced buyback on 29 Nov 2011

•  Paused for Q2 close period in Jan 2012

•  Mandated to continue through April close period

Total consideration (excluding stamp, duty and commissions) for the calendar month.

Value (£m)

£77m

£137m

£75m £80m

Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12

£10m £8m

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Shares

Millions 2012 2011 Shares in issue at 1st July 1,753 1,753Own shares purchased & cancelled during the period (44) 0Shares in issue at 31 March 1,709 1,753

Weighted average number of shares in period 1,744 1,753Weighted average shares in ESOP trust (10) (9)Basic weighted average number of shares 1,734 1,744

Weighted average number of dilutive shares from outstanding options 6 10Weighted average number of dilutive shares from exercised options 5 1Weighted average number of dilutive shares from lapsed options 1 0Diluted weighted average number of shares 1,746 1,755

Basic earnings per share - continuing operations 39.7 30.3Diluted earnings per share - continuing operations 39.5 30.1

Adjusted basic earnings per share - continuing operations 37.8 30.5Adjusted diluted earnings per share - continuing operations 37.5 30.3