Sony Pictures Digital Productions Fiscal Year 2010 Budget February 18, 2009

Agenda Page Number FY09 Q4 Forecast Update FY10 Budget Assumptions FY10 Budget Overview Appendix

2 FY09 Q4 Forecast Update

3 FY09 Q4 Financial Summary ($ In Thousands) Variance to Budget: Q3 variance: SPI timing of revenue to FY10 offset by favorable SPA revenue from Open Season 2 Budget variance: Risk and Opportunities: Timing of SPI revenue

4 FY09 Q4 Highlights to FY09 Budget Original Budget challenge (SG&A) – key items – Actions taken to achieve challenge – Highlight top categories with $ savings Cost reduction initiatives – Action on Michael & Amy’s cost savings intitiative – OT reduction – T&E reduction per B. Osher – Savings in overhead – reduce spending on all catagories – Headcount reductions – Hiring policy changes (production-based model) – OT policy changes – Reduce average salary levels by redesigning the workforce in favor of younger, more energetic, les expensive talent, leveraging the IPAX program – Reduce non-contractual salary increases – Redesign employee benefits (both mix and eligibility) to reduce fringe rate – Redesign bonus plan – New Mexico production rebate – Improve utilization of billable employees (Production Portal) – Redesign organization structure and management team – Reduce employees under contract and/or make it easier to terminate contractual employees – Implement better systems for performance tracking – Increased density of existing office space and resize facility to new headcount levels – Eliminate underutilized equipment, licenses, and office space – Reduce maintenance expenses WIP

5 FY10 Budget Overview

6 Prioritize Imageworks around needs of SPA & Columbia, using excess capacity to service third parties Reduce facility size and execute on cost reduction initiatives at Imageworks Manage visual effects business on a break-even basis, only charging internal productions “at cost” (no profit) Increase SPE’s participation and success in family features market –CG animated films at the high end ($100MM+) and mid-tier ($25-50MM) –Animation/live action hybrids –DTV sequels Shepherd Aardman relationship for SPE Expand digital marketing services beyond SPE to third parties via Imageworks Interactive Improve Economics Focus on High Margin, Growth Businesses Explore New Opportunities Strategic Objectives

7 FY10 Budget Highlights Changes from MRP Cloudy 3D glasses cost Open Season 2 uplift/performance from Walmart Marketing savings on Cloudy Cost reduction savings – headcount reduction, exceeded target Surf’s Up risk (home video performance) New management alignment – restructuring Portal implementation - management tool Cost reduction efforts savings $ to $ Risk of SPA work timing – replace with third party work to get to $150M SPI overhead – accountability by department to lower targets WIP

8 FY10 Budget Highlights Changes from MRP WIP

9 Budget Revenue & EBIT Summary Budget Revenue & EBIT Summary ($ in Thousands)

10 MRP EBIT Reconciliation to Budget MRP EBIT Reconciliation to Budget ($ in Thousands)

11 FY09 Q4 EBIT Reconciliation to Budget FY09 Q4 EBIT Reconciliation to Budget ($ in Thousands)

12 Budget EBIT Risk & Opportunities Budget EBIT Risk & Opportunities ($ in Thousands)

13 Budget Receipts & Cash Flow Summary Budget Receipts & Cash Flow Summary ($ in Thousands)

14 Budget Cash Risk & Opportunities Budget Cash Risk & Opportunities ($ in Thousands)

15 Cloudy with a Chance of Meatballs Ultimate ($ in Thousands)

16 Appendix

17 Cost Reduction Plan ($ In Thousands) WIP

18 Revenue Summary ($ In Thousands)

19 Open Season Ultimate ($ in Thousands)

20 Surfs Up Ultimate ($ in Thousands)

21 Open Season 2 (direct to video) Ultimate ($ in Thousands)