New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>SkyCity (SKC) has advised the unconditional sale of 99 Albert Street and its Victoria Street properties for NZ$74.5m.</li><li>This is broadly in line with book value and our expectations.</li><li>This is a solid outcome for SKC which (1) strengthens the balance sheet, (2) reduces future capex requirements for the assets, (3) mitigates market concerns around execution of the asset monetisation strategy, and (4) supports the removal of S&amp;P negative watch on its credit rating.</li></ul>

SkyCity (SKC) has advised the unconditional sale of 99 Albert Street and its Victoria Street properties for NZ$74.5m.This is broadly in line with book value and our expectations.This is a solid outcome for SKC which (1) strengthens the balance sheet, (2) reduces future capex requirements for the assets, (3) mitigates market concerns around execution of the asset monetisation strategy, and (4) supports the removal of S&amp;P negative watch on its credit rating.

SkyCity (SKC.NZ) - Unconditional Sale of 99 Albert Street and Victoria Street Properties

Skycity Entertainment

SkyCity (SKC.NZ) - Unconditional Sale of 99 Albert Street and Victoria Street Properties