1. CONFIDENTIAL Korea Distribution Partnership Opportunity February 2010

2. page 2 Executive Summary SPE has been approached by Korea’s Lotte Entertainment to distribute SPE films in Korea and Vietnam –Seeking theatrical rights in Korea and Vietnam, video rights in Korea only –SPE would retain all TV rights While Korea is a growth market, significant competitive barriers exist –Majority of market is controlled by large, vertical monopolies –Local film quotas have led to a strong local film production market, with Korean films often accounting for 50% or more of the box office in a given year Terms offered by Lotte represent an opportunity to secure a guaranteed profit stream in Korea above historical averages –Lotte’s unegotiated offer exceeds our 4-year average and we would seek to negotiate the guarantee upward toward a guarantee that exceeds performance in our best years –Guaranteed even in years without a Spider-Man or 2012 to drive territory performance –Many smaller SPE titles are not theatrically released. Additional releases and box office from SPE titles could drive value in TV market, which is retained by SPE Opportunities may exist with other Korean distributors, such as CJ

3. page 3 Lotte Entertainment Overview The Lotte Group is a large platform of consumer oriented businesses –One of Korea’s largest conglomerates, with 2009E group revenues of $42B+ –Multiple brands across shopping, tourism, restaurants, and theme parks Lotte Entertainment is one of Korea’s largest exhibitors –2 nd largest exhibitor, with a 23% share of screens in Korea (all digital multiplexes) 54 sites / 411 screens in Korea (projected to grow to 68 sites / 514 screens in 2010) 3 sites / 17 screens in Vietnam Lotte continues to grow and has experience with market-leading films –3 of the top 10 films in 2009 –Market share increased from 8.4% in 2008 to 20% in 1H 2009 –Experienced in distributing Hollywood titles, with successful releases of Terminator: Salvation, The Golden Compass and Journey to the Center of the Earth (3D)

4. page 4 SPE Economics in Korea

5. page 5 Lotte’s Proposed Terms of Output Deal Studio: Sony Pictures Entertainment (all labels) Distributor: Lotte Entertainment Term / Fee: 5 Years / $12M per year [Note: SPE would plan to counter for a higher guarantee] Titles: SPE must submit all titles under all labels to Lotte, with a minimum of 23 titles per year Lotte must distribute a minimum of 15 titles per year Rights / Territory: Theatrical, and home video in South Korea Theatrical rights in Vietnam [Internet rights – IPTV, Internet VOD and Internet Streaming – were initially requested but we believe can be eliminated from the deal] First Look: SPE would get “first look” at any Lotte Korean product for purposes of English Language remake

6. page 6 Next Steps SPE senior management agreement to proceed or pass Assuming interest: –Agree on key terms to include in counter Increased annual guarantee Up-front payment structured to allow immediate gain recognition (requires input from technical accounting) Define a subset of films Lotte must take (eg, number of puts or triggers for automatic acceptance) Ability to license/sub-distribute any rejected films, or non-theatrical product –Alert David Bishop, Steve Mosko, and Keith LeGoy that we plan to engage formally –Express interest to Lotte and provide counter –Initiate discussions with CJ as an alternative TV has relationship with CJ, Korea’s largest distributor CJ has recently done an all-markets deal with Paramount and is rumored to be interested in further Studio deals