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Sharesave 2020

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I am delighted to be inviting you to take part in our second Sharesave offer since Sky became part of the Comcast family two years ago.

Sharesave is a Scheme where you can make regular savings over a 3 or 5 year period, after which you can use your total savings to buy Comcast stock for a discounted fixed price. It offers the same great benefits as our previous schemes, with the same great discount, but gives you the opportunity to buy Comcast stock (listed on the Nasdaq Stock Exchange) instead of Sky shares (which are no longer listed). So please read this brochure carefully as it’ll give you relevant information to help you in deciding whether to participate.

Thank you for all your continued hard work and we look forward to you sharing in our future success.

Jeremy Darroch Group Chief Executive

Join by 6.00pm CET 6 November

2020

It’s our pleasure to invite you to join Sharesave 2020

Welcome to SharesaveWith Sharesave, you can choose to save part of your net pay each month. That money is yours to take at any time, but the real benefit is that at the end of your savings period you can choose to buy Comcast stock at a fixed, discounted price. So, if Comcast’s stock price increases over your savings period you’ll have the opportunity to make a profit*.

Affordable Save between €12 and €500 per month for either 3 or 5 years

Convenient Savings are taken directly from your net pay

Flexible You can take back everything you have saved at any time

Discounted You’ll have an opportunity to buy Comcast stock* at a price fixed at the start of your savings period which includes a 20% discount

Potential for profit If the Comcast stock price goes up, you could make a profit when you sell your shares

*Comcast stock is listed on the Nasdaq stock exchange under the symbol CMCSA. It is priced in US dollars, so movement between the euro and US dollars will also impact the value of your investment.

Welcome

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How it works

At the start of the savings period, we set the Option Price, which includes a 20% discount

This is the price you can buy Comcast stock* at the end of your saving period. This is known as the Option Price and includes a 20% discount to the closing market price on 19 October converted to Euros.

Your fixed Option Price is €30.14.

*Comcast stock is listed on the Nasdaq stock exchange under the symbol CMCSA. It is priced in US dollars, so movement between the euro and US dollars will also impact the value of your investment.

Step

1

Gather roundhere’s Sharesave in three easy steps

Option Price

€30.14

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How it works

You’ll then save money for a set period You choose to enrol in Sharesave for 3 or 5 years

You can save between €12 and €500 per month

The money is automatically deducted from your net pay* every month

Choose an amount you’ll be comfortable with as the amount can’t be changed once the application window has closed. However you can:

Miss payment up to 12 months Take your money back in full, at any time

* Each month, the money you save automatically comes from your pay after you’ve paid tax (net pay).

Step

2

Gather roundhere’s Sharesave in three easy steps

Option Price

€30.14

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How it works

At the end of this period, you’ll have the option to buy Comcast stock*

After 3 or 5 years, you’ll have the option to use your savings to buy Comcast stock at the Option Price.

If the Comcast stock price is...

Higher than the Option Price – You can buy the stock and make a profit if you immediately sell the shares

Lower than the Option Price – You can take back all the money you’ve saved

*Comcast stock is listed on the Nasdaq stock exchange under the symbol CMCSA. It is priced in US dollars, so movement between the euro and US dollars will also impact the value of your investment

Step

3

Gather roundhere’s Sharesave in three easy steps

Option Price

€30.14

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What if I’m already in a Sharesave plan?

You’ll still be eligible to join this year, however you can only contribute a maximum of €500 across all active plans. For example:

If you contributed €100 in the previous year, then you’ll have the opportunity to contribute up to €400 in this year’s plan.

If you’ve already contributed the maximum €500 then you won’t be able to contribute into a new plan until your existing plan matures.

If you’d like to free up a contribution amount and enter this year’s plan, you can close an existing plan. Remember if you do this your savings to date will be returned to you but you cannot restart that plan or buy shares at the discounted price. Should you wish to close your 2019 account in order to free up any savings allowance for Sharesave 2020, then you must do this by Thursday 5 November, 6pm CET.

Option Price

€30.14

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Sharesave scenarios here’s what happens next The following scenarios show how the stock price at maturity affects the outcome

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The Comcast stock price has gone up since 19 October 2020.* If you buy the stock and sell it you’ll make a profit.

Alternatively, you could choose to keep your stock, becoming a Comcast shareholder. You’d then be eligible for any dividends.

The value of your remaining stock will be dependent on the price of Comcast’s class A common stock.

*Comcast stock is listed on the Nasdaq stock exchange under the symbol CMCSA. It is priced in US dollars, so movement

between the euro and US dollars will also impact the value of your investment.

Scenario

1Option

Price

€30.14

What happens if?

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Option Price

€30.14

Scenario

2The Comcast stock price is the same as it was on 19 October 2020.*As in Scenario 1, if you buy the stock and sell it you’ll still make a profit, thanks to your 20% discount.

Alternatively, you could choose to keep your stock becoming a Comcast shareholder. You’d then be eligible for any dividends.

The value of your remaining stock will be dependent on the price of Comcast’s class A common stock.

*Comcast stock is listed on the Nasdaq stock exchange under the symbol CMCSA. It is priced in US dollars, so movement between the euro and US dollars will also impact the value of your investment.

What happens if?

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Option Price

€30.14

The Comcast stock price has dropped by more than 20%.In this scenario, the stock price is lower than the Option Price. Buying the stock you were entitled to and selling it immediately would generate a loss for you.

The benefit of Sharesave is, you can choose to take back your savings – and you’d have saved up a nice amount of money.

Scenario

3

What happens if?

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Stock prices can fall as well as rise and past performance is not an indicator of future performance of stock. The scenarios shown are for illustrative purposesonly, and do not take into account fluctuations in the Euro and US dollar exchange rate, which may impact the value of your Options.

In addition, shares may not be delivered for up to 5 business days following your exercise and, therefore, the stock price of the shares when you receive them may be higher or lower than the stock price on your exercise date.

Please remember

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Key dates for your diary

If Sharesave 2020 is oversubscribed, we may need to reduce the amount of money you can save each month. This is unlikely to happen, but if it does, we’ll let you know soon after the offer window closes and we’ll reduce all applicants’ payments proportionally so that everyone can still take part.

Then after 3 or 5 years it’s decision timeYou’ll have the option to buy Comcast stock, or take back the money you’ve saved

Join SharesaveWe’ll send an email inviting you to join

20October

Allocation of GrantYou’ll receive an email with instructions on how to view your grant allocation.

13November

First payment takenYour first payment will be taken directly from your net pay

28January

Application deadlineYou must apply by 6.00pm CET

6November

Tap into our calculator See what your monthly contributions

could be worth at different Comcast stock prices.

Please note the shares you receive may be higher or lower than the stock price on your exercise date for two reasons: 1) Fluctuations in currencies are not taken into account and changes in exchange rates may cause results to differ 2) Shares may not be delivered for up to 5 business days following your exercise.

Tap into our calculator See what your monthly contributions

could be worth at different Comcast stock prices.

Try it now

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The wait is over...

Join online 1. You can access EquatePlus, our Sharesave portal managed by Computershare, by visiting

equateplus.com. Before you do this you’ll need your User ID which will be sent to you by email. Please keep this for future use.

2. Then follow the on-screen instructions to set your new password and complete the account setup. Look out for

your welcome email from

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Still in the dark about something?

Questions and answers

1. Can anyone join Sharesave 2020?

To be eligible, you must have been employed by a participating company on or before Friday 9 October and still be employed on the date options are granted Friday 13 November.

2. When and how can I join?

You can apply to join the Scheme between Tuesday 20 October and Friday 6 November. No applications after 6.00pm CET on Friday 6 November can be accepted. To apply for Sharesave, simply visit the Share Portal at equateplus.com. You will start saving from the January 2021 payroll.

3. When can I see my allocation of grants?

You’ll receive an email on the Friday 13 November letting you know what your allocated grants are. This will be based your fixed contributions and how long you’ve chosen to stay on the Scheme. You can log into Equate plus to check your allocated grants.

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Questions and answers

4. How much can I contribute to Sharesave?

You can save from €12 and €500 per month for either 3 or 5 years. The amount you contribute is up to you, but remember – you can’t change it once you’ve started. However, if you want to take a break, you can delay making up to 12 monthly payments.

5. Can I cancel an existing Sharesave plan and join this new plan?

Please note, the contribution limit of €500 applies across all plans that you’re currently participating in. Therefore, if you wish to free up any contribution allowance in order to join a new plan, you can do so immediately by withdrawing from an existing plan and get your savings back. You will then lose the option to buy shares within this plan.

6. How has the Option price been set?

The Option price is set by reviewing the Comcast stock price 3 working days prior to the launch date. Calculating the final price can be done in 2 ways:

1. Taking the closing stock price, on the last working day prior to the launch and applying a 20% discount or;

2. If more favourable, taking an average of the closing stock price on each of the 3 working days prior to launch and applying a 20% discount.

The Option price has been set at the closing Comcast stock price on Monday 19 October of $44.33, after applying a 20% discount this is $35.47. Having applied the exchange rate at close of business on Monday 19 October of $1:€0.8497, the final Option price is €30.14.

7. Who holds my savings?

Savings will be held by Barclays Bank in a pooled account in the name of Estera Trustees (Jersey) Limited. Estera plc is an independent third party Trustee with no connection to either Sky or to Comcast.

8. Can I change the amount I save?

No, once the invitation period has closed, the savings amount and period cannot be amended. However, you can delay making up to 12 monthly payments.

9. Can I stop my payments?

Yes, under certain circumstances - see Q10 for more details about pausing.

10. What happens if I’m on maternity/paternity or adoption leave, long-term absence, or can’t afford to save for a few months?

If your circumstances require it, you can postpone your savings contributions up to a maximum of 12 times over the course of your chosen savings period. This will not extend the maturity date therefore, you shall receive fewer options at the time of exercise. Please advise your local payroll team should you wish to defer any payments and ensure you have updated your personal email address in the Portal.

If you miss more than 12 payments then your account will be closed automatically and you will lose the opportunity to buy stock at the special discounted price. If your account is closed, your savings will be returned to your salaried bank

account via local payroll. If you are not receiving a salary payment through payroll you can continue to contribute by making alternative arrangements, please contact your local payroll for information.

11. What happens if I resign or decide not to return from maternity/paternity or adoption leave?

Normally, if you choose to leave the Comcast group, you lose the opportunity to buy stock. No further contributions can be made to your savings once your option has lapsed and, in these circumstances, your savings will be returned to you via local payroll.

12. What happens if midway through my savings term I am made redundant, have to leave work due to injury or disability, or retire?

You can:

1. Take all your savings as cash;

OR

2. Use the savings you have made to buy shares at the special discounted option price and keep them. This transaction must take place whilst you are still actively employed.

3. Use the savings you have made to buy shares at the special discounted option price and sell them immediately. Proceeds will be paid to you in your final pay with tax deducted as appropriate on any gain made on your savings. This transaction must take place whilst you are still actively employed.

Questions and answers

Questions and answers

13. What happens if I die?

Your savings contract will automatically stop. Your personal representative may either:

1. Take all the savings as cash;

OR

2. Use your savings to buy Comcast stock at the special discounted price at any time up to 1 year after your death if you die before the maturity date, or at any time up to 1 year after the maturity date if you die on or within the 6 months following the maturity date.

14. What happens at the end of the Sharesave period?

You can use your savings to buy Comcast stock at the special discounted Option Price rather than the current market stock price; OR you can simply take your savings as cash.

You can use your savings at any time within 6 months to buy Comcast stock.

Shares may not be delivered for up to 5 business days following your exercise and, therefore, the stock price of the shares when you receive them may be higher or lower than the stock price on your exercise date.

15. What is my tax position?

When you exercise your right to buy Comcast stock at the special discounted price, you will have to pay income tax at progressive rates on the difference between the market value of the stock at the time of exercising the option and the special discounted option price you received when you joined Sharesave.

You will need to report this on your tax return. If you exercise and then immediately sell your stock, no further tax charge will arise beyond this. If you exercise and hold onto your stock and you then later sell them at a higher price, this may result in a chargeable gain on the difference between the market stock price at the point of sale and the market stock price at the point of exercise.

Also, if you hold onto the stock and receive dividend payments, these may also be taxable income. Both

these types of income are reported on Annex G in your tax return and ordinarily taxed at 28% payable to the Autoridade Tributária e Aduaneira . The actual rate of tax payable may be different depending on your personal circumstances.

As an example, assume; You have been saving €50 a month over a 3-year period. The market stock price at the invitation date was €10.00, and the special discounted option price €10.00 * 80% = €8.00. You have not missed any monthly payments, so your savings at the end of the 3-year period are €50 * 36 = €1.800, and you will be able to buy €1.800 / €8.00 or approximately 225 Comcast stock The market value of Comcast stock on the dayyou buy is €12.00, these will be worth €12.00 * 225 = €2.700. You will therefore have to pay tax on the gain of €2.700 - €1.800 = €900 If your tax rate is 28% you will therefore pay tax of €900 * 28% = €252. €12.00 will be your new market value and any stock sold for more than this price will result in a capital gain that is taxable.

Questions and answers

16. What if the stock price falls or currency exchange rates change?

The great thing with Sharesave is that even if the stock price falls below the special discounted price or currency exchange rates lower the value of the Euro, you don’t have to buy the stock and you can simply choose to keep your savings instead.You can find the latest Comcast stock price here.

17. Will there be additional fees when I exercise my options?

There is no cost associated with ‘keeping’ your shares. However if you opt to sell your shares, you would be charged a sale administration and currency conversion fee (which will be deducted from the sale proceeds). You can find details of these charges in section 1.3 of the SPA T&Cs.

18. What if my question isn’t answered here?

For all other enquiries, please call Computershare on 00 800 3742 6164.

Calls are charged at the standard geographic rate and will vary by provider. Calls from outside the United Kingdom will be charged at the applicable international rate. Lines are open between 10am – 6.30pm CET, Monday to Friday excluding public holidays in England and Wales.

Important information

Please review the Prospectus relating to the Comcast Corporation Omnibus Sharesave plan before deciding whether to participate.

Please also be aware that the Comcast stock price and exchange rate may fluctuate significantly down as well as up. This booklet is for information only and any action you take is at your own risk. If you are in any doubt about what action to take, please consult a suitably qualified professional adviser. If there is any difference between the information in this booklet and the Rules of the Scheme, the Rules of the Scheme will apply. A copy of the Rules of the Scheme is available from the Sharesave Portal. For further information about Sharesave, please telephone the Helpline on 00 800 3742 6164. Calls are charged at the standard geographic rate and will vary by provider. Calls from outside the United Kingdom will be charged at the applicable international rate. Lines are open between 10am - 6.30pm CET, Monday to Friday excluding public holidays in England and Wales.

Don’t miss your chanceThe application window closes 6.00pm CET Friday 6 November 2020

Our award-winning share plan partner. Sharesave is administered by Computershare Plan Managers. Computershare is an award-winning, global provider of share plans with over 35 years’ experience in the industry.

With over 1,000 share plan specialists in 20 locations across the globe, Computershare offer unrivalled expertise.

You can find out more about them at www.computershare.com

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