1. CONFIDENTIAL SONY PICTURES ENTERTAINMENT MID RANGE PLAN – OCTOBER 4, 2012

2. Agenda Executive Summary SPE Divisional Details – Television – Motion Pictures – Digital Productions – Home Entertainment Financial Summary Closing Q&A 2

3. EXECUTIVE SUMMARY 3

4. SPE continues to deliver strong company performance; however, currency fluctuations and the carry-forward impact of under-performing films prevent SPE from maintaining the projections in its prior MRP Television offers multiple opportunities for growth – The networks business will strategically manage its current assets and identify select investment opportunities to capitalize on market growth – The production and distribution business is increasing the number of returning domestic series and building its international team to develop a new hit format The film industry is navigating a new economic model – Consumer tastes are shifting; action and family genres remain strong, but PG domestic comedies are giving way to R-rated comedies – Production and talent costs remain high across the industry – Domestic cinema admissions are declining but are offset by higher ticket prices – Admissions and ticket prices are growing in emerging markets, but such territories offer relatively meager ancillary revenues – There is a continuing shift to lower margin home entertainment models, however, the decline in sell-through appears to be leveling off – New models for digital distribution continue to gain traction and have superior margins to their physical counterparts Executive Summary 4

5. Executive Summary (continued) SPE is also faced with internal challenges – Carry-over impact in the MRP period of underperforming films from FYE12 and FYE13 – Reduced contribution of international TV production to the MRP due to management relaunch and fewer show commissions than previously anticipated However, with its well-balanced portfolio of television and film businesses, SPE expects to achieve $725M of EBIT and $456M of Net Cash Flow (1) by FYE16 (1) Net Cash Flow excludes strategic investment spend for the MSM India and GSN Buy-Up 5

6. SPE Key Strategic Initiatives Manage the shift in consumption of home entertainment by driving incremental transactions and higher margin models – New windows – New distribution partners – New business models Focus on franchises to drive profitability of motion pictures Invest capital to expand the high margin television networks business Become the premier independent producer of television content – Create compelling U.S. content with global appeal to maximize hit potential – Develop local content in international markets that can be exploited across multiple territories – Exploit attractive economics of cable production Continue cost reduction efforts – Operating costs, e.g., production, talent, and marketing – Overhead costs Manage the business to maximize cash 6

7. One Sony: SPE is also supporting Sony’s strategic initiatives SEN / PS+ 4K and 3D Emerging Markets Creating exclusive offers and providing content to drive transactions and subscriptions Leveraging Crackle content and expertise Providing marketing and promotions inventory Evangelizing the benefits of 4K and 3D to the film and TV community Identifying 4K content to support sales of 4K hardware Managing the 3D Technology Center Co-promotions, e.g., The Smurfs in Latin America and The Amazing Spider-Man / Sony Mobile in India and China Content bundles, e.g., limited edition This Is It / Michael Jackson Sony Walkman in Latin America Shared Services Expanding the benefits of SPE’s shared service centers to include Sony Global Treasury and Sony Electronics Cloud Media Services Creating a new service business for Sony based on SPE-generated technology Incubating the new business on the SPE lot 7

8. By FYE16, two thirds of SPE EBIT will be generated by the TV business EBIT by Division Total TV = 57% Total TV = 67% 8

9. DIVISIONAL DETAILS Television 9

10. ● Growth opportunities exist across the television industry − The global number of television households continues to grow − There are a greater number of distribution customers in the marketplace − Affiliate fees are generally stable; ad sales have rebounded since the 2008 downturn, although economic conditions in some territories have slowed growth − International consumption of U.S. TV dramas continues to be strong − SVOD customers are creating greater demand for studio content ● The television industry also faces a number of challenges − European economic issues have slowed the growth of the ad sales market in many territories − Studio programming prices are expected to rise creating margin pressure on networks − Volatility of foreign currencies creates uncertainty for predicting financial results in U.S. dollars − Competition across the global TV industry remains strong Television Market Update 10

11. Industry Trends: Television networks are key profit drivers for all media conglomerates Time WarnerDisneyNews CorpViacom Television Networks as a Percentage of Conglomerate Profit (1) Source: SEC filings and wall street research. (1)Profit calculated as operating income, LTM as of 6/30/2012 11

12. Industry Trends: Emerging markets have the strongest outlook for growth TV Subscription and Ad Revenues: 2012E – 2016E CAGR 2012E Revenue ($BN) Source: PWC. $79$168$83$40$15 4.3% 5.7% 8.8% 9.6% 10.0% Western EuropeNorth AmericaAsiaCentral & Eastern Europe LatAM 12

13. Television Business Overview Sony Pictures Television Production Networks Distribution Development, acquisition, and production of television programs for broadcast, basic cable, and premium cable networks Program genres include scripted comedies and dramas and non-scripted reality, talk, and game shows Sale of SPE’s film and television content to television and digital customers Customers include U.S. and international broadcast and cable networks, U.S. local television stations, and digital services, e.g., Netflix Management and distribution of branded networks and channels worldwide International brands include AXN, SET, and Animax 13

14. Television Highlights Television EBIT ($MM) 15% CAGR Total Television EBIT is expected to grow by $295 million (53%) over the MRP period ● All TV businesses contribute to this growth; in particular, Networks anticipates earnings of $503 million by FYE16 (CAGR of 23%) ● U.S. Production will have 29 shows on the air this year with 11 shows in the U.S. off-net syndication window during the MRP period ● U.S. Production current series annual profits are projected to exceed $200 million in the MRP period ● Gross distribution sales of SPE’s library of content are projected to exceed $2.5 billion by FYE16 14

15. Develop new content and keep SPT’s domestic slate of original TV series on the air to drive substantial syndication profits Focus on maximizing operational efficiencies for networks and international TV production Generate more international local language TV series with the intent of creating a global hit Grow Crackle’s U.S. ad business by increasing investment in its infrastructure Television Strategic Priorities Strengthening economics of existing businesses 15

16. Television Strategic Priorities Pursue Growth Opportunities Build on syndication success (The Dr. Oz Show) to expand with A-list talent (Queen Latifah) Capitalize on opportunities with emerging SVOD players (e.g., Netflix, Amazon, Hulu) to drive incremental value for new and library product for film and TV Expand in key markets with our branded networks, local and international TV series, and production ventures − Complete a regional channel acquisition in India and pursue channel acquisitions in other select markets − Continue to invest in international production companies that create content with specific focus on the UK but also possibly in Scandinavia, Israel, Australia and other content rich territories; in addition, identify potential opportunities to expand into emerging markets with strong TV growth potential where SPT does not currently have a presence 16

17. Become the primary ad sales organization across Sony Draw on SPE’s development, production and programming expertise to create content for Sony’s networked devices Leverage our significant and expanding networks presence in India and Latin America to benefit Sony as a whole Utilize our networks’ global reach to assist in marketing initiatives Television Strategic Priorities Pursuing One Sony Collaboration 17

18. U.S. Production Current Series, Pilots & Development Significant contribution from current series as they enter off-network syndication Rules of Engagement sold to Netflix and U.S. syndication market for Fall 2012 Community sold to Comedy Central and U.S. syndication market for Fall 2013 launch. Already sold to Hulu with an initial availability in FYE12 Build on our syndication success with new Queen Latifah series for Fall 2013 Initial off-net syndication availabilities for Happy Endings, Last Resort, Mob Doctor, Big C and Justified in FYE14 and Franklin and Bash in FYE15 MRP Assumptions EBIT from Current Series, Pilots & Development ($ in Millions) $73 $84 $120 $109 $0 $20 $40 $60 $80 $100 $120 $140 FYE13FYE14FYE15FYE16 18 Excludes Wheel of Fortune, Jeopardy!, Days of Our Lives and Y&R

19. Wheel of Fortune and Jeopardy! are renewed through 15/16 season The Young and the Restless is renewed through 12/13 season and Days of Our Lives is renewed through 13/14 season Production cost control and reduction efforts continue on all programs U.S. Production Library, Game Shows and Daytime Serials MRP Assumptions Maximizing the contribution to EBIT from Core Programs $253 $248 $258 $271 EBIT ($ in Millions) 19

20. Culver City Miami (Latin America & U.S. Hispanic market) Bogota Rome Paris London (WW Production capacity) Hilversum Cologne Moscow (Russian speaking market) Beijing Hong Kong (Asia market excl Japan) Sao Paolo Dubai (Arabic speaking market) Beirut Cairo International Production Operating Companies Production companies in 13 countries around the world covering multiple regions; to date, SPT productions have aired in 88 countries and 73 languages 20

21. Continue to exploit Who Wants to Be a Millionaire and develop a stable base of other successful formats Make more focused and sustained investment in development executives, producers, production companies, and new content especially in the UK − The acquisition of Left Bank gives SPE a stronger foot-hold in the UK Foster a more creative culture to develop intellectual property by: − Realigning the organization, including a new President and a creative head − Combining the print sales and format sales teams to better serve our buyers − Creating a strategically centralized development fund − Implementing a competitive incentive plan Simplify administrative and operational processes International Production Key Initiatives to Drive Earnings Growth The current MRP is based upon more reasonable expectations for the volume of series and margins that can be achieved with both internally developed and acquired product 21

22. EBIT Margin (without monetization) 2%3%6%5% International Production Financial Summary MRP Assumptions ($ in Millions) Who Wants to Be a Millionaire continues to be a major profit contributor with format license and ancillary profit budgeted at $16 million FYE13 EBIT includes $11 million from Shine monetization escrow funds Organic growth from existing operating companies is supplemented by EBIT contributions from recent acquisitions Left Bank and Silver River Revenue EBIT Shine Monetization FYE13 FYE14 FYE15 FYE16 22

23. Distribution Gross Revenue ($ in Millions) Secure long-term deals in key territories Capitalize on opportunities with emerging SVOD players across the globe Maximize value of TV series off-net syndication (e.g., Rules of Engagement, Community, Happy Endings, Last Resort, Mob Doctor) Distribution Continue to Grow Distribution Sales MRP Assumptions Generate over $2.4 billion in gross revenue in FYE13, of which 59% is from Motion Pictures product $2,408 $2,490 $2,443 $2,527 23

24. Networks Network Brands SET GENERAL ENTERTAINMENT AXN GENERAL ENTERTAINMENT ANIME/YOUTH LIFESTYLE/MUSIC DIGITAL MOVIES PARTNER NETWORKS Highly successful network brands benefiting from global infrastructure 24

25. Networks Networks Worldwide Reach mobile 25

26. Networks Growth Opportunities Europe Asia / Australia Latin America U.S. Italy Movie Channel True Movies UK acquisition AXN Movies Central Europe SET Germany India regional channels acquisition (Maa TV) Korean movie channel Asia drama channel Australia channel Crackle Latin America women’s channels TV Asia – U.S. Hindi general entertainment channel 26

27. Focus next 18 months on maximizing efficiencies in existing operations Continue to selectively launch channels in new and existing territories Increase investment in Crackle U.S. advertising and technical infrastructure Volatility of foreign currencies has had a particularly harsh impact on Networks earnings Networks Strong and Consistent Earnings Growth EBIT reaches over $500 million in FYE16, growing at a 23% CAGR over the MRP period EBIT Revenues MRP Assumptions EBIT Margin: 17.4% 16.7% 18.2%19.5% Networks Revenue and EBIT ($ in Millions) 27

28. As a result of recent investments, North America and Europe grow as a percentage of Networks’ EBIT from 24% in FYE13 to 36% in FYE16 Networks EBIT by Region 28