CONFIDENTIAL -- Sony Pictures Entertainment Work Product Sony Pictures Digital Productions Fiscal Year 2013 Budget Overview February 3, 2012

CONFIDENTIAL -- Sony Pictures Entertainment Work Product Agenda Page Number FY12 Q4 Forecast Update FY13 Budget Overview Film Ultimates

CONFIDENTIAL -- Sony Pictures Entertainment Work Product FY12 Q4 Forecast Update

CONFIDENTIAL -- Sony Pictures Entertainment Work Product Full-year EBIT $15.1MM favorable to budget before Pirates domestic release date shift from 4/6/12 to 4/27/12 (after release date shift: $34.6MM favorable to budget): –Enormous worldwide success of Smurfs (#8 film in worldwide box, #4 in family worldwide box, and #5 in international box for 2011) offset underperformance of well reviewed Arthur Christmas –Imageworks realized stronger than anticipated margins in its 3 rd party VFX business due to focus on large productions from regular clients (e.g., Warner Bros.’ Green Lantern) and ongoing cost savings derived from technology gains and efficient production management Imageworks enhanced its status as an industry leader, providing high-end VFX and animation work at competitive market prices: –In production on Columbia’s two tentpole releases for 2012 – The Amazing Spider-Man, Men in Black III and Disney’s March 2013 tentpole Oz: The Great and Powerful, as well as Hotel Transylvania Smurfs: A Christmas Carol, the 22 minute value-add feature, provided a strong assist to DVD and Blu- Ray sell-through as well as TV sales for The Smurfs in North America and key international markets Full-year net cash flow was $88.6MM favorable to budget and includes an estimated $3.9MM purchase of remaining minority interest in Imageworks India FY12 Highlights page 4

CONFIDENTIAL -- Sony Pictures Entertainment Work Product FY12 Q4 Financial Summary ($ in Thousands) page 5

CONFIDENTIAL -- Sony Pictures Entertainment Work Product FY13 Budget Overview

CONFIDENTIAL -- Sony Pictures Entertainment Work Product FY13 Strategic Objectives page 7 Develop high-margin family-friendly films with franchise potential Deliver 2 family films per year – either CG-animated or live-action hybrid features Continue to lower average cost of production in response to new economics Provide more projects for senior management to choose from to determine future greenlights Quickly identify films for FY13 and FY14 among these current projects: −CG animated: Cloudy 2, Familiars, Popeye, Kazorn & the Unicorn, Ninja vs.Samurai Maximize opportunity for Pirates and Hotel Transylvania across all release windows and ancillary business lines through close collaboration with other SPE divisions Maximize use of expanded Vancouver studio and soon-to-be wholly owned India facility to lower pricing even further Continue strategic focus on combining competitive pricing with high quality available through tighter integration of satellites with efficiently managed Culver City hub Continue to assist Digital Marketing in developing strategy while executing industry- leading campaigns across all platforms at below market rates Launch Hotel Transylvania social game, providing new potential high-margin revenue stream, additional marketing push for the film and a low cost framework for available for future SPA and Columbia films to leverage Collaborate to ensure maximum opportunity for Pirates and Hotel Transylvania Execute industry- leading digital campaigns at below market rates Identify future high- margin franchises Maximize use of Vancouver and India to lower pricing

CONFIDENTIAL -- Sony Pictures Entertainment Work Product FY13 Budget Financial Summary ($ in Thousands) page 8

CONFIDENTIAL -- Sony Pictures Entertainment Work Product MRP EBIT Reconciliation to FY13 Budget ($ in Thousands) page 9

CONFIDENTIAL -- Sony Pictures Entertainment Work Product MRP Net Cash Reconciliation to FY13 Budget ($ in Thousands) page 10

CONFIDENTIAL -- Sony Pictures Entertainment Work Product FY13 Budget Risks & Opportunities ($ in Thousands) page 11

CONFIDENTIAL -- Sony Pictures Entertainment Work Product Imageworks FY13 Budget Revenue ($ in Thousands) page 12

CONFIDENTIAL -- Sony Pictures Entertainment Work Product Film Ultimates

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