SONY PICTURES ENTERTAINMENT Investor Meeting Michael Lynton November 19, 2010 DRAFT as of 9 Nov 10 at 6:30pm

page 1 DRAFT Sony Pictures Entertainment is a major producer of film and television content around the world Approximately $7 billion in revenue per year Sony Pictures Entertainment Film TV Networks TV Production Produce about 25 films per year Acquire select 3 rd party product as well Distribute films to theaters in 67 territories worldwide Make films available on home entertainment platforms including DVD, Blu-ray, VOD and pay TV, after theatrical release Operate Imageworks, a production studio for digital animation and visual effects Produce & distribute TV shows for broadcast network, cable networks, new media and syndication markets Produce local language TV shows in approximately 25 non- U.S. countries Own library of approximately 50,000 TV episodes Manages and distributes over 57 branded networks and 125 channel feeds in more than 140 countries, reaching more than 460MM homes worldwide and delivered in 22 languages Branded networks include Animax, AXN and SET Own stakes in GSN and FEARnet in the U.S. Operate Crackle.com, an online video network and production studio

page 2 DRAFT Film High profile films with generally larger budgets Releases per Year: Past successes include: –Spider-Man franchise –Men In Black franchise –The Social Network –Salt Upcoming releases: –The Girl With the Dragon Tattoo –Men In Black 3 (3D) –Spider-Man (3D) –Ghostbusters (3D) Lower-budget titles, primarily Thriller, Horror and Urban Releases per Year: 4-6 Past successes include: –Resident Evil franchise –Underworld franchise –Obsessed –Stomp the Yard –The Exorcism of Emily Rose Upcoming releases: –Burlesque –Country Strong “Art-house” label primarily acquires completed films Typically Dramas, Documentaries, and Foreign films on screens Releases per Year: Past successes include: –An Education –Whatever Works (Woody Allen) –The Counterfeiters (2007 Oscar, Best Foreign Film) –The Secret in Their Eyes (2009 Oscar, Best Foreign Film) Thin out the above and put SPA and SPI on this page

page 3 DRAFT Trailers Cloudy with a Chance of Meatballs The Tourist How do you Know Smurfs Zookeeper

page 4 DRAFT Book of Daniel Emily’s Reasons Love Monkey Beautiful People The Boondocks King of Queens Huff Rescue Me Strong Medicine The Shield Judge Hatchett Wheel of Fortune Jeopardy! The Young & The Restless Days of our Lives Happy Endings Mad Love Mr. Sunshine Plain Jane The Big C Franklin & Bash Nate Berkus Community Rules of Engagement Shark Tank The Sing-Off The Boondocks Breaking Bad Damages Drop Dead Diva Hawthorne Justified My Boys Rescue Me Newlywed Game Dr. Oz Wheel of Fortune Jeopardy! The Young & The Restless Days of Our Lives U.S. Television Production Only studio to get a new series on each of the 5 broadcast networks Rules of Engagement becomes primetime’s #2 comedy SPT becomes the #1 producer of scripted cable series Rules of Engagement becomes primetime’s #2 comedy SPT becomes the #1 producer of scripted cable series The Shield becomes SPT’s first cable-to- cable series sale; $32M SPT achieves 29 Emmy nominations The Shield becomes SPT’s first cable-to- cable series sale; $32M SPT achieves 29 Emmy nominations SPT secures partnership with Harpo and successfully launches Dr. Oz Rescue Me sells into U.S. syndication and has an ultimate profit of $45M Community becomes first new comedy to anchor Thursday nights since The Cosby Show SPT secures partnership with Harpo and successfully launches Dr. Oz Rescue Me sells into U.S. syndication and has an ultimate profit of $45M Community becomes first new comedy to anchor Thursday nights since The Cosby Show Highest volume year in SPT history with 13 stand-alone profitable series 3 primetime broadcast reality series Rules is one season away from significant syndication value SPT has more new broadcast comedy series than any other studio 2005– – – – – – series 20 series 21 series 25 series Big Day Heist Kidnapped Rules of Engagement Runaway Til Death 10 Items or Less My Boys Judge Maria Lopez Greg Behrendt The Boondocks Huff King of Queens Rescue Me The Shield Judge Hatchett Wheel of Fortune Jeopardy! The Young & The Restless Days of our Lives Canterbury’s Law Cashmere Mafia Power of 10 Spider-Man Viva Laughlin Breaking Bad Damages Judge David Young Rules of Engagement Til Death 10 Items or Less The Boondocks My Boys Rescue Me The Shield Judge Hatchett Judge Maria Lopez Wheel of Fortune Jeopardy! The Young & The Restless Days of our Lives Sit Down, Shut Up The Unusuals The Beast Newlywed Game Judge Karen Rules of Engagement Spider-Man Til Death 10 Items or Less The Boondocks Breaking Bad Damages My Boys Rescue Me The Shield Judge David Young Judge Hatchett Wheel of Fortune Jeopardy! The Young & The Restless Days of our Lives Brothers Community Shark Tank The Sing-Off Drop Dead Diva Hawthorne Justified Make My Day Dr. Oz Rules of Engagement Til Death The Boondocks Breaking Bad Damages My Boys Rescue Me Newlywed Game Wheel of Fortune Jeopardy! The Young & The Restless Days of our Lives

page 5 DRAFT 5 Culver City Miami (Latin America/USH) Bogota Buenos Aires Madrid Rome Paris London Hilversum Cologne Moscow Beijing Hong Kong New York HUASO FLORESTA Sao Paolo Global Television Production

page 6 DRAFT Television Networks 119 Feeds 140+ Countries 477+ Million HH 22 Languages mobile

page 7 DRAFT Trends Entertainment consumption continues to grow – Rise in box office – Increased TV viewing per household – Home entertainment transactions back on the rise Growth in digital distribution – Increase in broadband penetration – Growth in next generation devices, such as internet connected TVs, game consoles and smartphones Emergence of more convenient rental models driving transactions – Kiosks, such as Redbox – Subscription services, such as Netflix – to increase again Superior formats available – Blu-ray – 3D

page 8 DRAFT Pressure Decline in sell through – Sales of new release product down from its 2006 peak – Declines in catalog sales Interim shift to lower margin transactions – Sell through transactions shifting to rental – Rentailer (e.g., Blockbuster) transactions shifting to lower margin subscription (e.g., Netflix) and kiosk (e.g., Redbox) distributors Piracy a continuing problem

page 9 DRAFT Opportunity Drive higher margin formats including Blu-ray and 3D Higher margin digital rental models Emergence of new digital customers through devices including connected game consoles and iPads Opportunity to introduce higher-margin early window VoD Industry Average $ Contribution per Transaction (1) (2) (1) Morgan Stanley SPHE margins generally in-line with industry averages with exception of Redbox where SPHE margin is ~$1.10 vs. industry kiosk average of $0.95. (2) Brick and mortar (B&M) margin represents a weighted average of traditional DVD and Blu-ray rental margins. Weighting based on number of total domestic 2009 rental units consumed by format (i.e., 95% traditional DVD, 5% Blu-ray) per Morgan Stanley

page 10 DRAFT Strategic Initiatives Increase focus on high quality ‘event’ films Growth in 3D Continued growth of TV networks business Continued growth of TV production business Partner with Qriocity/PlayStation Network Growth in emerging markets Support high margin digital and Blu-ray models Continued focus cost control

page 11 DRAFT 3D Market Demand for 3D remains high Consumers are paying a premium for the enhanced format However, 3D demand varies among film genres Action Films (High Quality 3D) Action Films (Lower Quality 3D) Family Films Genre Films High consumer demand Incremental 3D screens create additional opportunity Consumers less willing to pay up-charge Can negatively impact 2D performance of film, as well Appealing to some demos Up-charge can be a deterrent for a family of four or more Glasses a challenge for young children Evidence of consumer demand when released at the right time and 3D format enhances subject matter

page 12 DRAFT 3D at Sony Upcoming 3D films – The Green Hornet – Priest – The Smurfs – Arthur Christmas – The Invention of Hugo Cabret 3D Blu-rays – Released Cloudy with a Chance of Meatballs this summer as first Blu-ray 3D title available at retail followed by Monster House – Bundled Cloudy with a Chance of Meatballs with Sony’s Bravia 3D TVs 3D network –Partnership with Discovery and IMAX –Launch first quarter CY2011 3D Technology Center – Demonstrates Sony’s expertise in 3D content creation/manipulation – Develops and evaluates systems for new 3D program production – Creates and drives industry support of 3D technologies, techniques, and authoring tools

page 13 DRAFT Emerging Markets Key source of growth for the studio SPE has established TV networks infrastructure and operating expertise in emerging markets – Able to capitalize on growth in both TV audiences and advertising revenues – Well positioned to leverage established presence into additional territories Local TV production presence enables SPE to derive higher profits from global TV formats – Producing locally around the world rather than licensing to 3 rd parties Cross-Sony collaboration – SPE content featured on Sony devices and packaging for retail and advertising – Home entertainment products (e.g., BDs and 3D BDs) bundled with electronics and PS3s – SPE content displayed outside and inside Sony stores – Brokered deal with BCCI for Sony to film IPL semi-finals and finals in 3D