1. 1 1. Executive Summary 2. Networks 3. Distribution & Ad Sales 4. Production 5. Appendix

2. 2 Goals Grow our first-run syndication business Maximize feature film revenues Deliver maximum ad revenue to signature properties – Seinfeld, Dr. Oz and Crackle Establish SPTAS as the primary ad sales organization across Sony Leverage international sales to secure strategically important network dramas

3. 3 Distribution & Ad Sales Financial Summary Profit ContributionRevenueEBIT [U.S. & International (includes Ad Sales)] [New Create]

4. 4 U.S. Distribution –Goals Leverage Dr. Oz as the cornerstone for growth in our first-run syndication business Secure a premium deal for FY10 slate Grow feature revenue in PPV / VOD through day-and-date and early windows Maximize library sales for film and TV product

5. 5 Market conditions and competitor response create an opportunity to expand our first-run business –Competing distributors have decreased first-run offerings in response to defaults by local station customers –69% of our own local station customers are in financial distress yet still demonstrate an appetite for quality first-run shows As Cable nets shift programming dollars to originals, we’re using new strategies to offset downward price pressure Cable and Satellite operators are requiring a full commitment to day-and-date product in exchange for shelf space and marketing Early windows represent upside to our MRP, but requires FCC waiver for key Cable / Satellite clients U.S. Distribution -- Market Environment

6. 6 U.S. Distribution – Key Initiatives and Market Considerations Stations are financially challenged but still need quality programming Increase value of existing Dr. Oz deals through time period upgrades and tiered financial deals; renew at increases Build on Oprah and Dr. Oz platform to launch additional shows 4 th cycle sale of Seinfeld, launch Til Death, and split King of Queens cable rights TV Syndication Sell a premium slate deal by approaching market early Cable network economics remain strong, but programming dollars are increasingly focused on originals rather than library films Address downward pressure on features library through split windows, additional rights, and non-exclusive opportunities Free TV / Basic Cable Cable and Satellite players shifting focus from FOD to SVOD in conjunction with TV Anywhere / authentication License non-exclusive SVOD for short-term avails Pay TV Continue commitment to day-and-date in order to secure shelf space / promotion and grow in-line with market Early windows represent an incremental growth opportunity TV PPV/VOD

7. 7 U.S. Distribution Sales – Total Licensing Revenue SPT will generate $X million in total current and library revenue for SPE [$ to be updated] Profit Contribution$XXX FY10 Q2/BDGT. FY11 MRP/Prior FY12 MRP/Prior FY13 MRP TO BE UPDATED

8. 8 U.S. Distribution – Revenue by Platform TV Syndication Free TV/Basic Cable Pay TV [$ to be updated] TO BE UPDATED

9. 9 U.S. Distribution – Revenue by Platform: PPV/VOD EBITMarket Trends Line chart showing our buy-rate growth in line with market Explanation of why buy- rate growth is greater than revenue growth due to changes in slate TO BE UPDATED

10. 10 “Seinfeld” FY10 Q2/BDGT. FY11 MRP/Prior FY12 MRP/Prior FY13 MRP EBIT [Add strategy and assumptions] TO BE UPDATED

11. 11 “Dr. Oz” [Add a page showing current forecast vs. Mid-case Greenlight]

12. 12 U.S. Distribution Sales – FY11 Slate SPT will generate over $450 million in TV sales from the FY11 slate NOTE: Film slate assumptions still in process TO BE UPDATED

13. 13 U.S. TV and Digital Library Revenue by Division FY10 Q2/BDGT. FY11 MRP/Prior FY12 MRP/Prior FY13 MRP TO BE UPDATED