1. 1 December 8 th, 2010 CoreNet Global New York City Chapter Cutting edge energy practices for the Corporate end user Time Warner Real Estate & Facilities

2. 2  Global leader in media and entertainment with businesses in television networks, filmed entertainment and publishing  Our brands create, package and deliver high quality content worldwide through multiple distribution platforms  Turner Broadcasting  Home Box Office (HBO)  Time Inc.  Warner Bros. (WB)  Time Warner has approximately 31,000 employees Time Warner Overview Networks (CNN, TNT, TBS, HBO)$11.7 Billion Filmed Entertainment (WB and New Line Cinema)$11.066 Billion Publishing (Time Inc., People Magazine, Sports Illustrated)$3.736 Billion 2009 Revenues : $26.5 Billion Total Energy Consumption: Company-wide (Domestic) 453,775,507 KWH $ 55,021,529  TW began tracking and reporting carbon footprint in 2006 for U.S. operations  Information reported in CSR Reports and Carbon Disclosure Project questionnaire

3. 3 Real Estate Portfolio Total Portfolio Size: 19,300,000 SF  Domestic: 16,400,000 SF  International: 2,900,000 SF LATAM: 400K EMEA: 2M APAC: 300K  5,400,000 SF (more than 30%) of Domestic portfolio is located in New York City 1 Million SF: Owned 4.4 Million SF: Leased  3 Primary Assets in NYC: Time Warner Center HBO Headquarters (1100 & 1114 Ave of Americas) Time & Life Building (1271 Ave of Americas) 1 2 3 1 2 3

4. 4 Energy Management – Time Warner Center  Time Warner Center (approximately 1M SF, 50/50 TW Corporate and CNN Studios)  Condominium Association  Common Area Electric  TW-centric Consumption Participate in wholesale electricity market through ECM- Energy Management Services UtiliVisor Energy Management Software: Resulted in approx. $1M in savings/cost avoidance Improved chilled water flow and operation of by-pass valve Reduced chilled water pump energy consumption Plate heat exchange optimization Direct purchase through New York Independent Systems Operator (NYISO) Saved approximately $750,000 over roughly 2 years Full price transparency – Zero price certainty Electric Budget $5.3 Million KWH Consumed 29 Million KWH

5. 5 Energy Management – HBO Headquarters Energy Efficiency Measures Recently partnered with TW Corporate in wholesale procurement $250K in savings in 1 st year Earned US Environmental Protection Agency’s (EPA) “Energy Star” status in 2009 Reduced energy costs by implementation of best practices and installing efficient lighting Performed chiller water temperature resets Condensed water temperature resets Converted cooling tower fans to Variable Frequency Drives (VFD) Installed off-hours lighting controls Replaces 32W lamps with 28W lamps 1100 Avenue of the Americas: 350,000 SF1114 Avenue of the Americas: 325,000 SF Combined HBO Electric Budget $2.5 Million KWH Consumed 11 Million KWH

6. 6 6 th floor energy savings pilot program  2008: Lighting consultant hired  2009: Lighting retrofit was started in August 2009 and completed in October 2009 Other tasks implemented to reduce energy:  Increased employee awareness about shutting off office lights, PC’s, printers, desk lamps, radios, etc.  Audited and corrected problems found with the BAS Lighting Control System  Put motion detectors in Conference Rooms  Re-reviewed the FSU (supplemental AC units) hours of operation and cut them back  IT installed energy saving software on all Time Inc. PCs and laptops, which automatically shut down PCs which are not in use or accidentally left on at the end of the work day  Survey all storage rooms and make sure they all have occupancy sensors Energy Management – Time Inc. Time & Life : 1.8 Million SF Electric Budget $3.8 Million KWH Consumed 18 Million KWH Time & Life Building, 6th Floor Electricity Consumption (KWH) (Kilowatt hours) JanFebMarAprMayJunJulAugSepOctNovDecTOTALAvg 201034,23534,94135,79034,11731,85734,65434,94032,59431,70434,59330,761 370,18641,131.8 2009 87,05679,14084,41576,505 79,14084,41576,50079,14039,34832,50442,333837,00169,750.1 200871,75576,50972,81871,78277,60373,42177,94782,14779,21677,49376,50489,694926,88977,240.8 200783,50994,24087,17388,99487,17392,34180,14973,59381,06180,66973,86784,6491,007,41883,951.5 200681,24287,45082,11579,04577,97479,49179,33877,16589,92589,06484,10895,4421,002,35983,529.9 200579,61678,75183,43074,26279,72284,21677,39281,06580,89981,08976,04990,226966,71780,559.8 200475,39778,29470,31575,72178,29480,69073,79480,34778,01683,97188,106 951,05179,254.3 IT installed energy saving software on (77) 6th Floor PC's during March Lighting Retrofit Started