Potential Sony Asset Contributions Simon Cowell / Philip Green Meeting June 3, /9/2016 1:56 PM

2 Overview Sony Pictures TV, Sony/ATV Music Publishing and Sony Computer Entertainment have high value opportunities based on collaboration with Simon Cowell creating a potential value of more than $1 billion.

3 Sony Pictures Television (SPT) Opportunities TV Production / Dev Partnership TV Production / Dev Partnership SPT is the #1 independent producer of TV content and the owner of the #1 and #2 syndicated game shows on TV as well as the #1 TV comedy in history. SPT’s library includes 150,000 episodes from 500 TV series and more than 4,000 feature films. Simon would leverage Sony’s expertise, relationships, assets, and library to develop new shows under an overall deal – A major new hit could result in annual cash flow of as much as $100 million, which could be shared by Simon and SPT Opportunity for Simon to take a stake in SPT properties, including scripted or unscripted series and existing or new shows – Potential for SPT to contribute stakes in properties to the venture with Simon – Examples of properties in development are listed below, important to understand areas of interest to Simon as available value varies by show Ordered to SeriesPilot OrdersActive Development The Sing-Off Shark Tank Newlywed Game Make My Day Pyramid Dating Game The Empire All-Star Mr. & Mrs. Honey Please Strongest American It's a Knockout: The US vs France Fire in the Hole End of Steve The Platform Fantasy Island Pursuit of Happyness Kid Rodeo Kid Talent Agency WARdrobe Lucky Back to School Your Kid's an Idiot Cru Fort Pitt Partridge Family Dead Lawyers Wedding Planner Untitled Will Arnett / Mitch Hurwitz Project

4 Sony Pictures Television Opportunities $ MM Value for Simon Cowell: Game Show Network and Game Partnership The Game Show Network (GSN) would provide an outlet for a defined number of Simon’s game shows each year (number of shows / format would be negotiated). Potential for Simon to take a significant equity stake in GSN – SPT would contribute up to 50% of SPT’s 35% stake in GSN (GSN’s total equity value approximately $800MM). Simon could have a dedicated programming block on GSN. Liberty plans to merge GSN under DirecTV brand. GSN available in 68MM homes, DirecTV has 18MM U.S. subscribers. Simon, GSN, and FUN Technologies (leading provider of online casual and fantasy sports games and sports information) would collaborate in developing online skill-based games. Deal would build on Sony’s partnership with IGT and history of introducing the most successful gaming machines of all time to offer slot machines based on Simon’s game shows. SET India Partnership Potential for SPT to contribute 10% to 35% of SET India (SPT currentlyowns ~60% and Simon could replace the current minority partnersand/or take a portion of SPT’s stake). SET India is India’s most popular Hindi-language general entertainmentchannel. The value of SET India may be as high as $1 billion or more withSimon’s involvement. Value for Simon Cowell: $100 – 400MM

5 Joint Venture for New Signings Sony/ATV Opportunities MIJAC Sony/ATV would provide a fund of $10 million for new signings. Simon Cowell would contribute $1 million. Three year term. Simon Cowell would be able to put deals to Sony/ATV subject to certain agreed upon parameters (standard copublishing terms). Sony/ATV would act as administrator for a fee of 15% of total NPS. NPS after admin fee is split 50/50 between Simon Cowell and Sony/ATV. Simon Cowell will commit to minimum of two deals per year over the term. Copyrights would be owned on a 50/50 basis. Simon Cowell to facilitate the sale of the Mijac catalog to Sony/ATV (or to a new entity created for that purpose). Mijac owns the publishing rights for all of Michael Jackson’s music as well as for the entire catalog of Sly and the Family Stone along with a number of high-value individual titles from Elvis and other artists. Sony/ATV will lend Simon Cowell the funds or arrange for the financing to allow Simon Cowell to purchase up to a 1/3 interest in the catalog. $25-35MM Value of Simon Cowell’s Stake: $10-15MM Value Creation for Simon Cowell:

6 Sony Computer Entertainment Opportunities Simon Cowell Channel on PS3 and PSP 70 million PlayStation 3 and PlayStation Portable devices. Young male demographic. Platform where Simon can test new ideas. Experiment with TV and gaming content. Successful ideas can move from the PlayStation platform to broadcast or cable TV as well as become game concepts Simon Cowell Channel Simon Cowell ChannelSimon Cowell Channel

7 Sony Computer Entertainment Opportunities SingStar An X Factor/Got Talent Songpack An X Factor/Got Talent "MySingStarOnline" (online user-generated video site) singing competition in which the winner gets a finalist place in the X Factor show. A Simon Cowell avatar that hosts the Saturday "Prime Time" singing competition. A TV show hosted by Simon Cowell that mimics the Prime Time singing competition in SingStar. An X Factor branded PlayStation Home Space showing unbroadcasted clips (with ITV). T-shirts in PlayStation Home that "vote for winners". An X Factor/Got Talent branded console with an X Factor/Got Talent song disc. An X Factor/Got Talent game. X Factor/Got Talent backstage and uncut clips sold as bonus content on the PlayStation Store (with ITV). Exclusive interview with Simon Cowell and X Factor/Got Talent contestants sold as bonus content. Could also be available on other Sony devices (e.g. Bravia televisions). PlayStation Home PlayStation Store Content New Gaming Initiatives Value for Simon Cowell: $5-15MM