LONDON and PHILADELPHIA, PA – July 11, 2018 – Comcast Corporation (Nasdaq: CMCSA) (“Comcast”) today published an announcement containing the terms of an increased superior cash offer for the entire issued and to be issued share capital of Sky to £14.75 per share (the “UK Increased Offer Announcement”). This implies a value of $34 billion (£26 billion) for the fully diluted share capital of Sky.

Additionally, Comcast announced that its increased superior cash offer has been recommended by the Sky Independent Committee of Directors. Comcast has long admired Sky and believes it is an outstanding company and a great fit with Comcast. Today’s announcement further underscores Comcast’s belief and its commitment to owning Sky. Comcast has committed financing available to satisfy the full cash consideration payable to Sky shareholders under the terms of the acquisition. Comcast has already received relevant regulatory approvals in the EU, Austria, Germany, Italy, and Jersey. Comcast expects to complete the acquisition before the end of October 2018. The offer document containing full terms and conditions of Comcast’s recommended increased superior cash offer and the procedures for its acceptance will be published and posted shortly and will be available on Comcast’s website at www.cmcsa.com/proposal-for-sky. This press release should be read in conjunction with the UK Increased Offer Announcement, both of which are on Comcast’s website at www.cmcsa.com/proposal-for-sky.