1. Divisional Details Television

2. ● Networks −Cable network revenues are expected to see continued growth −There is increasing competition among media companies to roll out channels in new territories, but numerous opportunities still exist to launch new networks ● Production −U.S. demand for dramas (i.e., procedurals) and comedies, including single camera, is on the rise; non-scripted is still in-demand but only a few series break-out −International production is rapidly consolidating but opportunities still remain ● Distribution −New digital players in the U.S. are acquiring content in the premium subscription window, creating additional customers for SPE −Broadcast and cable partners are seeking expanded digital and cross- platform rights to remain competitive with emerging competitors Television Market Update The TV market continues to provide opportunities for growth 2

3. Strengthen Economics of Existing Businesses Keep SPT’s slate of original TV series on the air and generate substantial syndication profits Continue to Improve SET India’s ratings and financial position, facilitate minority partner change Broaden our youth brands and reinvigorate the SET brand in Latin America Pursue Growth Opportunities Continue to develop additional programs with Harpo utilizing The Oprah Winfrey Show, The Dr. Oz Show, and The Nate Berkus Show as launch platforms Accelerate or create new windows (e.g. Day/Date with DVD release, Home Theater) Continue to invest and expand in key and emerging markets with our branded networks, TV series development and production ventures, and distribution sales operations Pursue Sony United Collaboration Become the primary ad sales organization across Sony brand and platforms Utilize development, production and programming expertise to create content for Sony’s Networked devices Television Key Strategies 3

4. Launch Nate Berkus Build on the success of Dr. Oz to maximize Nate Berkus, Off-Net and digital ad sales Sell 4 th cycle of Seinfeld and 1 st cycle of ‘Til Death Maximize movie and TV library sales in Free TV and Basic Cable Leverage the most from emerging digital SVOD businesses ($ in millions) Domestic Distribution / Ad Sales U.S. Distribution and Ad Sales Will contribute approximately $1.2 billion in revenue by FYE14 U.S. Distribution and Ad Sales - Net Revenue Strategic Priorities 4

5. Strengthen program portfolio  Work closely with SPT Production to secure key network and cable dramas  Explore English language, European content, co-production opportunities with U.S. network partner Maximize movie values  Accelerate VOD and Pay TV windows to maximize total returns to SPE  Wider international film releases and retention of international rights important in ability to maximize revenue Continue to push high-margin library sales Expand SPT’s presence in select emerging markets, e.g., Middle East, Africa ($ in millions) International Distribution Distribution Sales Will contribute over $1.4 billion in revenue by FYE14 Strategic Priorities Int’l Distribution Sales - Net Revenue 5

6. U.S. Production Current Program Lineup Over 1,600 episodes produced per year 6

7. U.S. Production Current Series and Development ($ In millions) EBIT from Current Series and Development increases by $97 million over the MRP as several series move into syndication MRP Assumptions By FYE14 the US TV pipeline is refilled: 3 first-run syndication series including Dr. Oz and Nate Berkus Rules of Engagement, Community, Drop Dead Diva and Justified are in Off-Network Syndication 7

8. U.S. Production New Series Investment & Development ($ In millions) Represents a component of current series financial results and is comprised of development expense and deficit pilots/series and EXCLUDES profitable series 8 New Series Investment & Development expense decreases by $16 million (26%) over the MRP

9. U.S. Production Game Shows, Daytime Serials, and Library Product ($ In millions) Maximizing the contribution to EBIT from our Core Programs MRP Assumptions Daytime Serials – lower contribution primarily due to restructured Canadian deal, weaker European currencies, and higher Y&R cost. Wheel of Fortune and Jeopardy! are renewed through Fall 2015 in some markets Production cost control and reduction efforts continue on all programs Digital distribution strategies continued to be pursued for the game shows (social media and other online games, mobile games, online interactive, etc.) 9

10. EBIT Revenues FYE12FYE13FYE14FYE11 ($ In millions) International Production Financial Summary Projected growth driven by production volume increase and aggressive format development for global exploitation  Includes assumption of a “hit” light entertainment format Also includes further EBIT growth from start-ups and acquisitions of additional production companies., especially in the U.K. Anticipate profitability through shifting product mix towards light entertainment, while maintaining strong scripted presence in key territories Key Factors EBIT grows at 48% CAGR over the MRP period 7.3% 5.0% 7.1% 8.4% EBIT Margin 10

11. DigitalDrama/Action General Entertainment 2 Other Investments Youth/AnimeMovies 477+ Mill i on HH 140+ Countries 119 Feeds 22 Languages Networks Network Brands

12. Networks Continued Earnings Growth Networks EBIT grows by approximately $100m over the MRP period ($ In millions) Networks RevenueNetworks EBIT 17.0% 16.5% 16.9% 17.8% EBIT Margin 12 Networks RevenueNetworks EBIT 17% CAGR 17.0% 16.5% 16.9% 17.8% EBIT Margin

13. Networks Strategic Priorities Continue to launch channels to achieve scale and increase sales leverage and program buying power Secure programming supply through studio output deals and investment in original programming Invest in ad sales infrastructure Continue to invest in U.S. Channels (e.g., utilize the AXN brand) Convert most channels to HD by the end of FYE 14 Expand all of the linear brands in the digital space including the Crackle brand Continue to expand the business

14. Opportunities to Strengthen Existing Assets Buy up control in GSN to consolidate earnings and control SPE’s largest U.S. cable asset Buy out partners in MSM to drive growth and allow full coordination with Sony United initiatives Opportunities to Expand in Key Strategic Markets Establish a local production presence in the UK through acquisition – likely to be in the range of $150 million to $1 Billion. Solidify US networks presence with potential investments in MGM, Ovation, Fuel and/or merger of GSN with Hallmark channels Drive Growth in Emerging Markets Through Acquisition or Start Up Further expand in emerging and growth markets in both the networks and production businesses Increase the scale of existing operations in emerging markets (e.g., India, Korea, Russia) Acquire or start up operations in new markets (Poland, Ukraine, Turkey) Television Growth through Additional Investment 14 SPT is exploring investments beyond those included in the MRP and will seek continued support to pursue these growth initiatives