eful Group Sophie Turner Laing, CEO of Endemol-Shine, ($2bn N Production Group) Brian Murray, CEO Harper Collins Publishing Cobus Stofberg, COO of Naspers/MIH (Largest ex USA Global Media Group) CEO of Abu Dhabi Government Media Zone Chairman of Abu Dhabi Media Company Her Highness Sheikha Salama, t

e 5 new worrying datapoints for core Video clients: (1) Polsat acquisition of fixed line operator, (2) Sky Italia exploring fibre distribution, (3) Naspers putting Multichoice up for sale, (4) TEF passing on Sky Brasil and, (5) TEF set to be first platform to exit satellite altogether within 5yrs. ■ We

uestion made me notice a mistake on my behalf when I went back to check the fees — please see the attached revised spreadsheet. I didn't adjust the Naspers trade commission for FX - the trade was done in ZAR, so the commission was USD 100 (not USD 1,365), and thus the 17,711.18 of fees on that trade is

Trade Details --> 7/25/18 / Naspers [CI Classification: Confidential Paul, Richard Kahn : Davide-A Sferrazza In SFLLC: You sold 2,000 shares of Naspers OWN S.I) at 3335.0004 ZAR. Thank you, Liam Liam O'Sullivan AVP I Key Client Partners - US DB Securities Inc Deutsche Bank Wealth Management 34

Paul, In SFLLC: You sold 2,000 shares of Naspers (NPN SI) at 3335.0004 ZAR. Thank you, Liam Liam O'Sullivan AVP I Key Client Partners - US DB Securities Inc Deutsche Bank Wealth Management 34

To: Paul Barrett CC: Martin Zeman Subject: RE: Naspers Classification: Confidential : Davide-A Sferrazza ; Stewart Oldfield I Good morning, Naspers has hit a high of 341,990 so far today. NPN SJ ZAr 1, 332900.00 -9090 J332821.00 / 333142.001 148 x 79 Thank you, Liam Liam O'Sullivan AVP I Ke

stock is down 20% from the highs in lan=ary. A lot of that has to do with its weight in the Chinese and EM ETFs. • I think we should add $2MM. • Naspers has now caught up and outperformed Tencent =ince I bought Naspers. Let's also switch Naspers back into Tencent.<=:p> a. Downward revisions to thei

4, 2018 4:06 PM To: Paul Barrett Subject: Re: Trade Ideas yes On Tue, Jul 24, 2018 at 6:02 PM, Paul Barrett < <mailto wrote: Ok Assume sell Naspers as well? Paul Barrett Alpha Group Capital LLC 1=2 W 57th Street, 11th Floor, New York, NY 10019 <tel (o) <tel > (c) <=a> > > On Jul 24, 201

imited visibility on use of proceeds and no buybacks 2) flow= have not been helpful as South African investors materially reduced their=ownership in Naspers. Why Buy now? 3 upcoming catalysts. 1) We think the c=mpany will change mgmt. incentive compensation at AGM August 2018 similar =o the strategy Alta