1. BUDGET PRESENTATION Fiscal Year 2013 February 2012

2. p. 2 FY12 Accomplishments SPT achieved several critical milestones in FY12 and will outperform budget despite a challenging economic environment: Networks –Record revenue ($1.5BN) and EBIT ($244MM) with year-over-year growth of 28% (excluding GSN) and 24%, respectively  MSM India a key driver with record EBIT estimated at $130MM  Portfolio EBIT ahead of Budget by 8%, margin at 20% (excl GSN PPA) –Expanded in Latin America with split out of Brazil channels and launch of Spin brand –Launched the first full international version of Crackle with Brazil in January and Mexico coming shortly –Acquired UK Ad sales operation and 5 UK channels to strengthen presence in key European market –Secured and started to monetize new 3D content –Launched Animax Japan on key BS platform –Expanded the Korean content channel SET One’s success story with expansion to new countries –Invested in, and helped shape, Networks first Global Production, The Firm, exploiting it across the world on AXN channels –Crackle has attracted 227 million visits over the year, a 54% year on year increase, and more than seven million app downloads in only six months making it one of Apple’s Top Five Entertainment Apps of 2011 and the #3 Entertainment App on Google’s Android Platform for Smart-phones and Tablets Distribution/Ad Sales –Sold individual products in the SVOD market for record values  Sold Breaking Bad to Netflix for $600K per episode  Sold Rules of Engagement to Netflix for $800K per episode  Sold Community to Hulu for $850K per episode –Closed key Free and Pay TV deals in Canada, UK, France, Japan, S. Africa, Latin America, Holland and Russia valued at $1BN. –Increased integration dollars almost three-fold for Dr. Oz from $2.1MM in 10/11 to $6.3MM in 11/12 by leveraging key partners; Weight Watcher’s and Walgreen’s –Crackle revenue has grown over 45% from FY11, PlayStation is on target to achieve fiscal budgets, and Doctoroz.com has surpassed projections Production –Produced television’s #1 new series this Fall, Unforgettable on CBS –U.S. series have increased from 11 to 26 over the past six years with 18 of those being returning series –SPT is the only studio to have a comedy on each of the four major broadcast networks, all in key time periods –Produced critically acclaimed shows with multiple Emmy, Golden Globe wins and nominations as well as leading multiple critics top 10 lists of 2011 –Continued to monetize the slate with key syndication sales for Community and Rules of Engagement –Closed deal with Queen Latifah to host syndicated talk show for the 13/14 broadcast season –Reorganized International Production –Closed Televisa first look deal –Millionaire continues to be a major ratings driver for key channels around the world. Currently under license in 40 territories

3. p. 3 Gross Revenue Generated by SPT for all Product 4,678 4,919 5,646 5,344

4. p. 4 SPT Financial Summary

5. p. 5 SPT Financial Summary TV Product Revenue from All SourcesEBIT 3,212 3,401 4,022 3,823 425 487 564

6. p. 6 SPT Financial Summary

7. p. 7 EBIT – Cause of Change vs. FY12 Budget and FY13 MRP

8. p. 8 EBIT – FY12 vs. FY13

9. p. 9 Net Overhead

10. p. 10 Net Overhead Summary Favorable FX impact in FY13 budget vs. MRP of $16MM ($1MM, $2MM and $13MM for Int’l Distribution, Int’l Production and Int’l Networks, respectively) NOTE: Excludes GSN and 2waytraffic purchase price amortization.

11. p. 11 SPT Networks – FY13 Outlook FY13 will be the 6 th consecutive year of record breaking Revenue and EBIT ($307MM) Major new financial milestones will be achieved by SPT Networks in FY13 –Revenues will approach $1.7BN, crossing the $1.5BN threshold for the first time –EBIT will exceed $300MM after breaking $200MM for the first time in FY12 –This represents year-on-year growth of 14% and 26% respectively This substantial earnings growth will be achieved while also continuing to invest in the business to help sustain the strong growth profile into the future –In addition to the six new operations that were/will be launched/acquired in FY12, funds have been included in the FY13 Budget to invest in several new operations Specific growth opportunities factored into the Budget include –Bringing distribution sales in house in key markets (Central Europe and Russia) to better monetize the opportunity and control our destiny –Expansion of further Sony branded channels in Turkey, Russia, Germany, and Thailand –Launch of an MSM branded Sports channel and investments in Regional Channels in India –Expansion of the exploitation of the Animax brand in the digital space In addition to seeking out new opportunities, focus must be maintained on the significant challenges that face the core business globally –Ad sales continues to need overhead investment to achieve the 20%+ year on year growth anticipated by many of the channels across the portfolio –Content costs continue to climb quickly with new costs out-stripping revenue increases in certain markets, increasing margin pressure –Increasing investment in original content is an important hedge against increasing content acquisition costs and producing more locally is becoming a regulatory requirement in certain parts of the world –Increasing localization of the channels is key to maintaining a strong relationship with the viewers as markets continue to fragment

12. p. 12 Networks – Financial Summary RevenueEBIT 1,318 1,483 1,762 1,690 226 244 307 As expected, FY12 will deliver over $200MM in EBIT with the final estimate of $244MM, 8% above Budget. Revenue has passed $1BN for the first time. EBIT has grown by 24% versus FY11 with India and Europe leading the way FY13 Budget is on the MRP target in spite of unfavorable FX movements eliminating $44MM of the MRP EBIT projection —Strong growth in India has compensated for some of the FX shortfall —A significant Home Office challenge of $28MM has also been added to the FY13 Budget in the belief that other opportunities will be found for new growth or cost savings (especially in India) and/or some of the new investment funds will not be incurred

13. p. 13 Networks – Financial Summary

14. p. 14 U.S. Distribution – FY13 Outlook Take advantage of changing distribution media to grow the value of product in FY13 Exploit the best digital, physical media, cable, broadcast and/or syndication opportunity for each title –E.g., broadcast comedies, cable dramas and first run syndication lend themselves to different models; broad comedies often perform well in syndication and serialized dramas perform best on SVOD platforms Maximize value of new feature releases, and optimize feature value in a fragmented market by taking out one substantial feature package, one targeted feature package and one Sony Pictures Classics package Capitalize on demand for new/library film and television product across premium subscription services (Netflix, Hulu, Amazon) Maximize value of Rules of Engagement and Community, and sell Queen Latifah and Justified Strategically window across platforms, including Sony-owned channels and digital platforms, to sell deeper into the feature and TV catalog

15. p. 15 U.S. Distribution – Financial Summary FY12 and FY13 include Starz bonus of $47.5MM (remains in U.S. Distribution EBIT) RevenueEBITProfit Contribution * Cumulative domestic box office (DBO) for Pay Window feature avails adjusted for rate-card caps under the Starz deal. Pay DBO* $1.32B$1.42B$1.34B$1.12B

16. p. 16 U.S. Distribution – Financial Summary

17. p. 17 U.S. Distribution – Library Gross Revenue 91 92 96

18. p. 18 U.S. Ad Sales – FY13 Outlook Advertising Market –Slow economic recovery may impact upfront advertising budgets – current softness in scatter market reflects this –Presidential elections will eat up inventory in the 4 th quarter – increased demand offers opportunity for TV and potentially digital ads on Crackle –Consolidation of brokers in the :10 ad business continues – diminishing role has mixed impact, more control over inventory with larger national clients but less 3 rd party buyers to help SPTAS sell inventory to smaller advertisers SPTAS growth strategy –Utilize new research tools to drive sales (i.e., primary studies with Nielsen IAG, client- specific research, and Nielsen Online Campaign ratings) –Build on our success at CES through an SPT digital upfront/road show that will drive awareness of Sony’s connected advertising opportunities throughout the industry –SMC will be ad supported beginning October 2012; Rules of Engagement launches in syndication for 12/13 broadcast season –13/14 broadcast season will include Queen Latifah syndicated talk show and Community will launch in off- net syndication Challenges –Digital: Lack of industry standardization challenging, favors those who offer scale –Cable: Slow growth rates on 3net distribution, and 3D’s slow adoption for advertisers –Agencies still slow in ability to execute cross-platform buys

19. p. 19 U.S. Ad Sales – Financial Summary RevenueEBITProfit Contribution

20. p. 20 U.S. Ad Sales – Financial Summary

21. p. 21 International Distribution – FY13 Outlook Remain responsive to Markets/Customers –Capitalized on new SVOD players in key markets, closing deals with Netflix (UK, LatAm, Canada), Lovefilm/Amazon (UK), and Shaw Media (Canada) in FY12 –Expanded presence in Canada and Middle East by opening local sales offices –To support continued growth, need to add resources in key markets around the world Continued collaboration with other SPT/SPE, PlayStation and Sony Electronics divisions to exploit opportunities –Accommodate carve-outs (SEN) as needed –Working with SPRI to cross-promote and support franchise releases in calendar 2012 –House Sony Electronics at MIPCOM Continue to exploit content acquisition opportunities by developing new partnerships to secure premium content (e.g., House of Cards) Fully integrate format sales business into our global processes and support functions Revenue of $1.6BN in FY13, $90MM ahead of MRP before FX impact of $30MM –$700MM profit contribution to SPE in FY13 –$1BN of revenue to MPG/WWAG in FY12 and FY13 Upcoming deals in key strategic territories will provide considerable challenges as well as potential opportunities Will outperform historical high revenue in FY12, reaching a new record in FY13

22. p. 22 Contribute $1.6BN in revenue and $701MM in profit in FY13 International Distribution – Financial Summary RevenueEBITProfit Contribution 1,381 1,520 644 709 (44) (38) * FY12 EBIT restated to be consistent with FY13, reflecting a transfer of $5MM sales dept. overhead from Int’l Production group. Transfer-in Sales Dept. *

23. p. 23 International Distribution – Financial Summary

24. p. 24 International Distribution – Library Gross Revenue 243 245 255 250

25. p. 25 Key Feature and TV Drivers – FY13 Int’l DistributionU.S. Distribution

26. p. 26 Distribution Sales – FY13 Slate The FY13 slate will generate over $940MM in global TV sales Based on film slate as of 1/27

27. p. 27 International Production – FY13 Outlook Generate significantly more content to create strong global formats that are exportable around the world –Intensify IP development in top format origination territories of U.K., U.S. and Netherlands –Aggressively acquire high potential IP from third party creators –Pursue strategic partnerships to create and gain access to new IP –Tap into synergistic opportunities with Sony owned content Drive growth in existing operations despite tough macroeconomic environment –Euro zone economic downturn hindering growth in France, Germany and Italy –Political unrest in Middle East contracted budgets of broadcasters and recovery expected to be prolonged –Latin America and Russia management changes/restructure require time to stabilize and grow business Grow SPT production company global footprint –Build a significant presence in the U.K. to bolster content creation and expand into scripted business –Establish local operations in important markets for IP origination and exploitation (e.g., Scandinavia, Australia) –Expand in high potential emerging territories (e.g., China, Korea, India) Create long-term retention plan for key talent Streamlined 2waytraffic companies – exited ALP and Mobile businesses

28. p. 28 International Production – Financial Summary EBITRevenue Lower than expected volume of commissions, primarily in Italy (slower growth), Middle East (political unrest) and Latin America and Russia (management restructuring) Projected equity step-up and financial consolidation for Teleset postponed Exited underperforming mobile business Rebuilding global operations and project growing to revenue of $378MM and EBIT of $29MM by FY15 * FY12 EBIT restated to be consistent with FY13, reflecting a transfer of $5MM sales dept. overhead to Int’l Distribution group. 36 34 8 Transfer out Sales Dept. *Shine Sale 20

29. p. 29 U.S. Production – FY13 Outlook Continue to build the syndication pipeline by creating long lasting shows Cable programming continues to be consistently profitable with some of the most critically acclaimed and respected series in the industry Build on a successful year in non-scripted, having had 3 series airing on primetime Build on our syndication success with new Queen Latifah daytime series for 13/14 broadcast season Build on the momentum in the broadcast network drama business and continue to strengthen our foothold in the international distribution business Increase investment to obtain top-tier creative talent across all genres Maintain and support a strong comedy strategy as part of our overall portfolio business as comedy is currently experiencing significant growth and increased network demand Explore a more significant role for international co-productions to help obtain greater control of domestic slate

30. p. 30 U.S. Production – FY12 Q4 New Series Investment & Development

31. p. 31 U.S. Production – FY13 Budget New Series Investment & Development

32. p. 32 U.S. Production Assumptions

33. p. 33 Projected Value of Shows in Syndication SHOWS IN SYNDICATION / EXPECTED TO SYNDICATE ANTICIPATED VALUE TO SPE 1 Current Examples Projected Examples Rules of Engagement$32MM Community Unforgettable $47MM $73MM Happy Endings$37MM Attractive returns with upside potential for shows that prove to be a ‘hit’ Note: 1. Value on an ultimate basis; as of January 2012 for Current and most current estimates for Projected Rescue Me$50MM Breaking Bad$58MM

34. p. 34 EBITRevenue U.S. Production – Current Series, Pilots & Development Cost

35. p. 35 U.S. Production – Current Series, Pilots & Development Cost

36. p. 36 U.S. Production – Library, Net Overhead & Challenge EBITRevenue

37. p. 37 U.S. Production – Library, Net Overhead & Challenge

38. p. 38 U.S. Production – Product Library EBITRevenue 162 189 161 182

39. p. 39 FY12 and FY13 Risks & Opportunities

40. p. 40 APPENDIX

41. p. 41 International Production – Variances to Budget & MRP

42. p. 42 International Production – Detailed EBIT

43. p. 43 International Production – Detailed Revenue

44. p. 44 SPT Financial Summary – Detailed Cash Flow