BUDGET PRESENTATIONFiscal Year 2013

February 2012

p. 2

FY12 AccomplishmentsSPT 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

p. 3

3,030 2,8343,356 3,107

1,648 2,085

2,2902,237

-

1,000

2,000

3,000

4,000

5,000

6,000

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

International U.S.($MM)

Gross Revenue Generated by SPT for all Product

4,678 4,919

5,6465,344

p. 4

SPT Financial Summary

Gross Revenue($MM) FY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceUS Networks 22 309 287 373 371 (2) 62 US Distribution 664 802 138 788 743 (45) (59) US Ad Sales 188 175 (13) 218 192 (26) 17 US Production & Library 774 799 25 911 931 20 132

Total US 1,648 2,085 437 2,290 2,237 (53) 152

Int'l Networks 1,284 1,163 (121) 1,371 1,301 (70) 138 Int'l Distribution 1,343 1,477 134 1,541 1,602 61 125 Int'l Production 403 194 (209) 444 204 (240) 10

Total international 3,030 2,834 (196) 3,356 3,107 (249) 273

Total 4,678 4,919 241 5,646 5,344 (302) 425

p. 5

203 199 232 217

222 262

332 336

26

11

-

100

200

300

400

500

600

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

International U.S. Monetization($MM)($MM)

1,7261,394

1,8691,572

1,486 2,007

2,1532,251

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

International U.S.($MM)($MM)

SPT Financial Summary

TV Product Revenue from All Sources EBIT

3,2123,401

4,0223,823

425

487

564 564

p. 6

SPT Financial SummaryRevenue

($MM) FY12 FY13 FY12 vs FY13Budget Forecast Variance MRP Budget Variance Variance

US Networks 34 320 286 391 389 (2) 69 US Distribution 50 48 (2) 52 48 (4) - US Ad Sales 3 8 5 6 4 (2) (4) US Production & Library 1,399 1,631 232 1,704 1,810 106 179

Total US 1,486 2,007 521 2,153 2,251 98 244

Int'l Networks 1,284 1,163 (121) 1,371 1,301 (70) 138 Int'l Distribution 10 15 5 5 5 - (10) Int'l Production & Format Sales 432 216 (216) 493 266 (227) 50

Total international 1,726 1,394 (332) 1,869 1,572 (297) 178

Total 3,212 3,401 189 4,022 3,823 (199) 422

EBITFY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceUS Networks 15 15 - 70 54 (16) 39 US Distribution 37 36 (1) 39 34 (5) (2) US Ad Sales (13) (7) 6 (9) (11) (2) (4) US Production & Library 183 218 35 232 259 27 41

Total US 222 262 40 332 336 4 74

Int'l Networks 211 229 18 237 253 16 24 Int'l Distribution (39) (33) 6 (46) (45) 1 (12) Int'l Production & Format Sales 31 3 (28) 41 9 (32) 6

Total international 203 199 (4) 232 217 (15) 18

Total 425 461 36 564 553 (11) 92

Shine Monetization - 26 26 - 11 11 (15)

Total Including Monetization 425 487 62 564 564 - 77

3NET (9) (8) 1 (6) (8) (2) -

p. 7

EBIT – Cause of Change vs. FY12 Budget and FY13 MRP($MM) FY12 FY13

FY12 Budget / FY13 MRP 425$ 564$

NetworksFX favorable/(unfavorable) (1) (44) EMEA/Latin America - mainly driven by lower than expected ad sales in FY12; FY13 in Europe impacted by new business (12) (8) MSM India - business as usual ad/sub revenue growth more than offsetting the loss of half season of IPL in FY12; FY13 also helped by extra IPL matches vs. MRP 40 47 GSN - FY13 mainly due to lower tv revenue, partially offset by higher digital games revenue (1) (13) U.S. (excl. GSN) - mainly due to lower ad revenue and higher bandwith costs for Crackle, delay in carriage for SMC (5) (3) FY12/FY13 Intl & U.S. New investment - lower level of new investment than previously anticipated 18 5 Challenge - attained in FY12; assumed in MRP (excl. MSM India specific) (20) 18

DistributionStarz digital bonus no longer assumed (2) (2) US Distribution acquired product assumptions - (2) International Distribution acquired product revenue and nonrecurring deal termination fee (FY12) 7 1

U.S. ProductionCommunity SVOD sale in FY12 vs FY14 22 - Breaking Bad early SVOD sale in FY12 14 - Library - home entertainment and co-distributor share higher than FY12 Budget & FY13 MRP 22 16 Til Death ratings performance lower than expected (12) - Boondocks now assuming add'l 5th season with deliveries shifting to FY13 & FY14 (4) (2)

International ProductionLower volume of commissions/delivery of episodes: Europe/Middle East/Latin America (21) (19) Exited underperforming mobile business (5) (2) Delayed consolidation of Teleset (3) (2) Delayed launch of global hit format - (3) Increase central development fund - (3) Higher licensing of library product primarily Russia 4 - Severance expense (3) (1)

SPT Group Challenge - 10

Shine Monetization 26 11

SPT Other (2) (4)

Total Variance 62 -

FY12 Forecast / FY13 Budget 487$ 564$

p. 8

EBIT – FY12 vs. FY13($ MM)

FY12 Forecast $461

Rules of Engagement begins syndication availability in FY13 15

Til' Death assumed to be breakeven in FY13 12

Int'l Distribution nonrecurring deal termination fee, and lower acquired volume assumptions (6)

Networks - FX favorable/(unfavorable) (16)

Networks - EMEA & Latin America - mainly driven by expected rebound in ad sales market 26

Networks - MSM India stonger business as usual ad/sub revenue due to higher average ratings across the year; plus $10M India HO challenge 21

Networks - GSN - mainly due to lower earn out (+$12M), lower PPA (+13M) as well as digital business revenue growth 38

Networks FY13 New Investments - additional investments ($7M invested on new investments in FY12) (25)

Networks - Challenge (excl. MSM India specific challenge noted above) 18

International Production - increase volume of comissions 9

Increase central development fund (4)

Lower licensing revenue (4)

SPT Group Challenge 10

SPT Other (2)

Total Variance 92

FY13 Budget $553

p. 9

Net Overhead

Net Overhead

356

428

484 458

-

100

200

300

400

500

600

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

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.

Net Overhead($MM) FY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceNetworks (195) (275) (80) (311) (299) 12 (24)

Networks - FY13 Assumed Investments (8) - 8 (12) (10) 2 (10) Distribution (56) (55) 1 (62) (63) (1) (8) U.S. Production & Ad Sales (35) (43) (8) (37) (38) (1) 5 Int'l Production & Format Sales (50) (55) (5) (54) (48) 6 7

Production - FY13 Assumed Investments (12) - 12 (8) - 8 -

Total (356) (428) (72) (484) (458) 26 (30)

p. 11

SPT Networks – FY13 Outlook

FY13 will be the 6th 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

p. 12

1,256 1,1631,371 1,301

34320

391389

28

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

International U.S. Challenge($MM)($MM)

Networks – Financial Summary

Revenue EBIT

1,318

1,483

1,762 1,690

226244

307 307

• 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

191229 237 225

15

15

7054

20

28

-

50

100

150

200

250

300

350

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

International U.S. Challenge($MM)($MM)

p. 13

Networks – Financial SummaryRevenue

($MM) FY12 FY13 FY12 vs FY13Budget Forecast Variance MRP Budget Variance Variance

International EMEA 214 195 (19) 255 227 (28) 32 Latin America 196 181 (15) 242 216 (26) 35 Asia (excl. MSM) 212 204 (8) 242 241 (1) 37 India 621 579 (42) 619 603 (16) 24

FY12 New Launches/Committed & FY13 New Opps 12 3 (9) 13 14 1 11

Total International 1,255 1,162 (93) 1,371 1,301 (70) 139

U.S.GSN - 296 296 334 339 5 43 Crackle U.S. & Clips 20 17 (3) 32 30 (2) 13 Sony Movie Channel 9 6 (3) 14 11 (3) 5 Games - - - 5 5 - 5

FY12 New Launches/Committed & FY13 New Opps 5 1 (4) 6 4 (2) 3 - Total U.S. 34 320 286 391 389 (2) 69

Home Office/Other 1 1 - - - - (1)

Challenge 28 - (28) - - - -

Total 1,318 1,483 165 1,762 1,690 (72) 208

EBITFY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceInternational

EMEA 30 25 (5) 50 33 (17) 8 Latin America 71 66 (5) 87 69 (18) 3 Asia (excl. MSM) 43 45 2 48 49 1 4 India 91 130 39 110 130 20 -

FY12 New Launches/Committed & FY13 New Opps (18) (6) 12 (30) (25) 5 (19) - Total International 217 260 43 265 256 (9) (4)

U.S. Crackle/Sony Movie Channel/CineSony/FEARnet (8) (12) (4) (8) (11) (3) 1 GSN 29 28 (1) 78 66 (12) 38

FY12 New Launches/Committed & FY13 New Opps (6) (1) 5 - (1) (1) -

Total U.S. 15 15 - 70 54 (16) 39

Home Office (incl. IPL Hedge in FY12) (26) (31) (5) (28) (31) (3) -

General Challenge 20 - (20) - 13 13 13 MSM India Challenge - - - - 10 10 10 Overhead Challenge - - - - 5 5 5

Total 226 244 18 307 307 - 63

3NET (9) (8) 1 (6) (8) (2) -

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

p. 15

U.S. Distribution – Financial Summary

• FY12 and FY13 include Starz bonus of $47.5MM (remains in U.S. Distribution EBIT)

Revenue EBITProfit Contribution

37 36

39

34

-

5

10

15

20

25

30

35

40

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

664

802 788 743

-

100

200

300

400

500

600

700

800

900

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

347

409 412 372

-

50

100

150

200

250

300

350

400

450

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

* Cumulative domestic box office (DBO) for Pay Window feature avails adjusted for rate-card caps under the Starz deal.

PayDBO* $1.32B $1.42B $1.34B $1.12B

p. 16

U.S. Distribution – Financial Summary

Gross Revenue($MM) FY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance Variance2010 to 2012 Major Releases (Pay) 223 234 11 211 173 (38) (61) 2009 to 2011 Major Releases (Free) 97 104 7 127 136 9 32 Other Current 47 62 15 73 65 (8) 3 Library 50 50 - 54 54 - 4 Total MPG 417 450 33 465 428 (37) (22)

Total WW Acquisitions 43 68 25 62 34 (28) (34)

Starz Bonus 50 48 (2) 50 48 (2) - First Run and off-net Syndication 113 194 81 169 191 22 (3) Library 41 42 1 42 42 - - Total TV 204 284 80 261 281 20 (3) Total 664 802 138 788 743 (45) (59)

Profit Contribution($MM) FY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceMPG 254 274 20 281 259 (22) (15) WW Acquisitions 18 29 11 28 14 (14) (15) TV 88 118 30 116 113 (3) (5) Total 360 421 61 425 386 (39) (35) G&A (13) (12) 1 (13) (14) (1) (2) Profit Contribution 347 409 62 412 372 (40) (37)

Transfer to Product Owners (310) (373) (63) (373) (338) 35 35

EBIT 37 36 (1) 39 34 (5) (2)

p. 17

41 42 42 42

50 50 54 54

-

10

20

30

40

50

60

70

80

90

100

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

TV MPG($MM)

U.S. Distribution – Library Gross Revenue

91 9296 96

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 4th 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 3rd 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

p. 19

U.S. Ad Sales – Financial Summary

Revenue EBITProfit Contribution

(13)

(7)

(9)

(11)

(14)

(12)

(10)

(8)

(6)

(4)

(2)

-

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

25 25

37

31

-

5

10

15

20

25

30

35

40

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

188 175

218

192

-

25

50

75

100

125

150

175

200

225

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

p. 20

U.S. Ad Sales – Financial Summary

` FY12 FY13 FY12 vs FY13Budget Forecast Variance MRP Budget Variance Variance

Gross RevenueKING OF QUEENS 23 18 (5) 18 17 (1) (1) TIL DEATH 5 3 (2) 6 5 (1) 2 RULES OF ENGAGEMENT 17 13 (4) 13 SEINFELD 43 43 - 40 37 (3) (6) DR OZ 50 46 (4) 60 60 - 14 NATE BERKUS 22 14 (8) 10 7 (3) (7) WHEEL OF FORTUNE, JEOPARDY! 14 12 (2) 13 13 - 1 RIGHT THIS MINUTE - - - 13 - (13) - All Other 4 6 2 1 1 - (5)

Subtotal 161 142 (19) 178 153 (25) 11

Third Party Distribution 15 21 6 22 21 (1) - Crackle 12 12 - 18 18 - 6

Total Gross Revenue 188 175 (13) 218 192 (26) 17

($MM) FY12 FY13 FY12 vs FY13Budget Forecast Variance MRP Budget Variance Variance

Product Profit 41 40 (1) 52 46 (6) 6 Ad Sales Overhead (16) (15) 1 (15) (15) - -

Profit Contribution 25 25 - 37 31 (6) 6

Transfer to Product Owner (38) (32) 6 (46) (42) 4 (10)

SPTAS EBIT (13) (7) 6 (9) (11) (2) (4)

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

Country/Deal Estimated Completion Estimated Term Value ($MMs)France Pay TV Renewal Q3 FY13 3-5 Years 130-150Germany FTV Output Q3 FY13 3-4 Years 200-300Italy Pay/FTV Option* Q1 FY13 3 Years 220-240Spain Pay Q4 FY13 3 Years 90-100Canada Daytime renewals* Q1 FY13 3 Years 80-90Australia FTV Output* Q1 FY13 3 Years 75-125Pan Asia HBO Pay Extension* Q3 FY13 5 Years ~100Pan Latam HBO Pay Extension* Q2 FY13 5 Years 350-500Brazil FTV Output Extension Q1 FY13 5 Years 140-160Total $1.4BN - $1.8BN* Will impact FY13

Key Deal Road Map

Will outperform historical high revenue in FY12, reaching a new record in FY13

p. 22

1,343 1,477

1,541 1,602

38 43

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

624 689

692 701

20

20

-

100

200

300

400

500

600

700

800

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

(39) (33)

(46) (45)

(5)

(5)

(50)

(45)

(40)

(35)

(30)

(25)

(20)

(15)

(10)

(5)

-

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

Contribute $1.6BN in revenue and $701MM in profit in FY13

International Distribution – Financial Summary

Revenue EBITProfit Contribution

1,3811,520

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. * Transfer-in Sales Dept. * Transfer-in Sales Dept. *

p. 23

International Distribution – Financial SummaryGross Revenue

($MM) FY12 FY13 FY12 vs FY13Budget Forecast Variance MRP Budget Variance Variance

MPG Current 502 500 (2) 555 580 25 80 MPG Flow 173 188 15 166 180 14 (8) MPG Library 175 180 5 180 180 - - Total MPG 850 868 18 901 940 39 72

WW Acquisitions 150 190 40 165 135 (30) (55)

TV Current 227 300 73 336 386 50 86 TV Library 68 65 (3) 75 70 (5) 5 TV Int'l Production 35 30 (5) 55 62 7 32 TV Int'l Acquired/Other 13 24 11 9 9 - (15) Total TV 343 419 76 475 527 52 108 Total 1,343 1,477 134 1,541 1,602 61 125

Profit ContributionFY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceMPG 540 555 15 573 599 26 44 WW Acquisitions 68 87 19 74 58 (16) (29) TV 59 91 32 94 94 - 3 Total 667 733 66 741 751 10 18 G&A (43) (44) (1) (49) (50) (1) (6) Profit Contribution 624 689 65 692 701 9 12

Transfer to Product Owners (663) (722) (59) (738) (746) (8) (24)

EBIT (39) (33) 6 (46) (45) 1 (12)

Restated EBIT (44) (38) 6 (46) (45) 1 (7)

p. 24

68 65 75 70

175 180180 180

-

50

100

150

200

250

300

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

TV MPG($MM)

International Distribution – Library Gross Revenue

243 245255 250

p. 25

Key Feature and TV Drivers – FY13

Int’l DistributionU.S. Distribution

Total($ in 000)Title FY13 Rev Title FY13 RevKARATE KID 20,300 Rules of Engagement 69,600 GROWN UPS 18,700 Dr Oz 58,400 GIRL WITH THE DRAGON TATTOO 16,800 Community 18,700 THE AMAZING SPIDER-MAN 14,700 Y&R/Days of Our Lives - SOAPnet 11,500 MEN IN BLACK 3 14,700 All others individually < $9M 33,300 TOTAL RECALL 14,700 THE OTHER GUYS 13,700 SALT 13,600 MONEYBALL 13,300 I HATE YOU DAD 12,900 JACK AND JILL 12,700 21 JUMP STREET 12,000 GHOST RIDER 2 [3D] 12,000 GREEN HORNET 11,700 THE SOCIAL NETWORK 11,100 BATTLE LA 10,300 THE VOW 10,200 PIRATES 9,700 UNDERWORLD 4 [3D] 9,600 All others individually < $9M 120,900 Starz Bonus 47,500 Feature Library 54,000 TV Library 42,000

Subtotal Features 427,600

WW Acquisitions (all individually <$9M) 34,400

Total 462,000 281,000 743,000

Feature Films/WW Acquisitions Television Total($ in 000)Title FY13 Rev Title FY13 RevMEN IN BLACK 3 24,400 Unforgettable 54,900 SMURFS 23,500 Y&R/Days of Our Lives 50,300 GROWN UPS 19,600 12/13 Net Drama (multi season) 22,000 THE AMAZING SPIDER-MAN 19,300 Who Wants to be a Millionaire 19,400 JACK AND JILL 18,200 Dr. Oz 14,900 PIRATES 17,700 Necessary Roughness 14,800 2012 17,700 Justified 12,300 ADVENTURES OF TINTIN, THE 17,300 Drop Dead Diva 11,700 KARATE KID 16,200 Damages 11,700 GIRL WITH THE DRAGON TATTOO 15,800 Pan Am 11,300 ARTHUR CHRISTMAS 13,500 12/13 Net Drama (single season) 11,300 MONEYBALL 12,400 Franklin and Bash 10,300 RESIDENT EVIL: AFTERLIFE 12,100 Breaking Bad 10,100 FRIENDS WITH BENEFITS 11,900 La Prepago (Latam) 9,700 PREMIUM RUSH 11,400 12/13 Cable Drama B 9,400 BAD TEACHER 11,300 Happy Together (Russia) 9,200 EAT PRAY LOVE 10,800 12/13 Cable Drama A 9,100 SALT 10,300 All others individually < $9M 164,600 UNDERWORLD 4 [3D] 10,000 ANONYMOUS 9,700 BOUNTY HUNTER 9,700 All others individually < $9M 447,200 Feature Library 180,000 TV Library 70,000

Subtotal Features 940,000

House of Cards 9,000 WW Acquisitions (all individually <$9M) 126,000

Subtotal WW Acquisitions 135,000

Total 1,075,000 527,000 1,602,000

Feature Films/WW Acquisitions Television

p. 26

Distribution Sales – FY13 SlateThe FY13 slate will generate over $940MM in global TV sales

Based on film slate as of 1/27

(000)Title Pay Free IntlMEN IN BLACK 3 15,440 25,860 83,500 I HATE YOU DAD 14,040 13,610 34,930 THE AMAZING SPIDER-MAN 15,440 25,920 100,000 LANCE ARMSTRONG 390 190 5,000 TOTAL RECALL 15,440 19,440 61,000 PREMIUM RUSH 10,090 6,530 24,500 HERE COMES THE BOOM 12,950 12,100 27,900 GREAT HOPE SPRINGS 11,890 NR NRKATHRYN BIGELOW PROJECT 9,740 2,920 NRDJANGO UNCHAINED NR NR 43,650 ELYSIUM 10,040 16,200 53,700 CAPTAIN PHILLIPS 13,570 8,950 42,000 Total 129,030 131,720 476,180

US (000)Title Pay Free IntlDARLING COMPANION 600 380 3,550 TBD#2-2013 100 100 NRWHERE DO WE GO NOW? 230 50 NRHYSTERIA 880 300 250 TBD#5-2013 304 100 600 TBD#6-2013 600 380 3,550 TBD#7-2013 NR 450 600 TBD#8-2013 100 100 NRTBD#9-2013 600 190 600 TBD#10-2013 2,120 300 NRTBD#11-2013 380 150 70 CHICKEN WITH PLUMS 150 50 300 TBD#13-2013 1,900 200 2,100 NEIL YOUNG JOURNEYS 170 100 1,200 TBD#15-2013 1,000 230 NRTBD#16-2013 800 230 400 TBD#17-2013 380 130 NRTBD#18-2013 190 100 NRTBD#19-2013 380 150 70 Total 10,884 3,690 13,290

US

(000)Title Pay Free IntlHOTEL TRANSYLVANIA 15,440 6,490 39,410 PIRATES 10,220 4,550 31,250 Total 25,660 11,040 70,660

US

(000)Title Pay Free IntlRESIDENT EVIL 5 [3D] 10,960 4,480 28,000 PLANET B-BOY [3D] 8,320 2,690 21,500 THINK LIKE A MAN 8,130 3,240 9,810 Total 27,410 10,410 59,310

US

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

p. 28

31

3

41

9

5

5

26

11

-

5

10

15

20

25

30

35

40

45

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

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.

432

216

493

266

-

100

200

300

400

500

600

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

3634

8

Transfer out Sales Dept. * Shine Sale

20

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

p. 30

U.S. Production – FY12 Q4 New Series Investment & DevelopmentNew Series Investment Pool - FY12 Budget ($90) 11/12 Broadcast Pilot Slate

FY12 Budget FY12 Q4Timing with FY11 2 6 FY11 8 FY11Changes in Network economics (Happy Endings vs. Mr. Sunshine, Pan Am, Charlie's Angels, Community) 6 4 FY12 2 FY12Changes in Cable econcomics (Hawthorne, Necessary Roughness) 1 10 Total 10 TotalIncreased Volume - 2 cable pilots, 1 cable series, Breaking In season 2 (15) Other 1 12/13 Broadcast Pilot SlateNet Variances (5) FY12 Budget FY12 Q4Q4 Forecast ($95) 4 FY12 4 FY12

5 FY13 5 FY139 Total 9 Total

FY12 VarianceFY12 Budget Economic Volume Timing Total Q4 Forecast

Network:Community (4) 4 - - 4 - Happy Endings - (6) - (1) (7) (7) Mr. Sunshine (12) 10 - (1) 9 (3) Mad Love - (1) - - (1) (1) Breaking In - (1) (7) (1) (9) (9) Pan Am (TBD Comedy at Budget) (5) 2 - - 2 (3) Charlie's Angels - (4) - - (4) (4) 11/12 Network Pilots (12) 2 2 7 11 (1) 12/13 Network Pilots (14) (4) - - (4) (18) Subtotal Network (47) 2 (5) 4 1 (46)

Cable:Client List - - (4) - (4) (4) Hawthorne (3) 2 - 1 3 - Necessary Roughness (1) (2) (1) - (3) (4) Cable Pilots (9) 4 (3) (3) (2) (11) Subtotal Cable (13) 4 (8) (2) (6) (19)

Development (30) - - - - (30) Total ($90) $6 ($13) $2 ($5) ($95)

p. 31

U.S. Production – FY13 Budget New Series Investment & DevelopmentFY13 MRP ($76) 12/13 Broadcast Pilot Slate

MRP FY13 BudgetIncreased Volume - 2 cable series and additional episodes of Necessary Roughness (3) 4 FY12 4 FY12Pilots - primarily mix change (2) 5 FY13 5 FY13Change in economics - Necessary Roughness and Happy Endings (4) 9 Total 9 TotalOther (1) Net Variances (10) 13/14 Broadcast Pilot SlateFY13 Budget ($86) MRP FY13 Budget

3 FY13 3 FY136 FY14 6 FY149 Total 9 Total

Variance FY13MRP Economic Volume Timing Total Budget

Network:

Happy Endings (8) (1) - - (1) (9) Breaking In (2) - - - - (2) TBD Comedy (3) (1) - - (1) (4) 12/13 Pilots (13) - - (1) (1) (14) 13/14 Pilots (10) - - (1) (1) (11) Subtotal Network (36) (2) - (2) (4) (40)

Cable:Franklin and Bash (1) - - - - (1) Necessary Roughness (1) (1) (2) - (3) (4) Men At Work - - (2) - (2) (2) TBD Cable Drama - - (1) - (1) (1) Cable Drama Pilots (6) - - - - (6) Subtotal Cable (8) (1) (5) - (6) (14)

Development (32) - - - - (32) Total ($76) ($3) ($5) ($2) ($10) ($86)

p. 32

U.S. Production Assumptions11/12 12/13 Changes

Season Season since MRPCommunity 3rd 4thRules Of Engagement 6th 7thHappy Endings 2nd 3rd

NETWORK Breaking In 2ndUnforgettable 1st 2ndPan Am 1stCharlie's Angels 1st Not Returning12/13 Pilots 912/13 New Comedy 112/13 New Drama 2

13/14 Pilots 9

The Young and the Restless 40th 41stDays of Our Lives 47th 48thDr. Oz 3rd 4thNate Berkus 2ndWheel of Fortune 29th 30thJeopardy! 28th 29th

FY12 FY13Big C 2nd 3rdBoondocks 4th 5th 5th season assumedBreaking Bad 5th 6thDamages 4th & 5th

CABLE Drop Dead Diva 3rd 4thFranklin and Bash 2nd 3rdHawthoRNe 3rdJustified 3rd 4thNecessary Roughness 1st 2ndClient List 1st Add'l Drama SeriesMen at Work 1st Add'l Comedy SeriesPilots 5 3 Add'l 2 pilots in FY12New Drama Series 2 1 Add'l Drama SeriesShark Tank 3rd 4thSing Off 3rd 4th

NON-SCRIPTED Pilots 3 3New Cable Series 2New Network Series 1Movie 12 9Mini-Series 1 1

SYNDICATED SERIES

MADE-FOR-TV MOVIES

p. 33

Projected Value of Shows in Syndication

SHOWS IN SYNDICATION / EXPECTED TO SYNDICATE

ANTICIPATEDVALUE TO SPE1

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

p. 34

EBITRevenue

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

1,210

1,434 1,540

1,614

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

91

137

163 165

-

20

40

60

80

100

120

140

160

180

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

p. 35

U.S. Production – Current Series, Pilots & Development CostRevenue

($MM) FY12 FY13 FY12 vs FY13Budget Forecast Variance MRP Budget Variance Variance

Broadcast Network: Scripted Pilots and Series 296 429 133 584 551 (33) 122 Cable Network: Scripted Pilots and Series 327 404 77 276 429 153 25 First-Run Syndication 149 148 (1) 150 142 (8) (6) Non-Scripted 38 53 15 89 66 (23) 13

Total Before Embassy Row 810 1,034 224 1,099 1,188 89 154 - Embassy Row 32 16 (16) 49 39 (10) 23 -

Subtotal 842 1,050 208 1,148 1,227 79 177

Days of Our Lives, The Young & the Restless 177 177 - 187 180 (7) 3 Wheel of Fortune, Jeopardy! 191 207 16 205 207 2 -

Total Daytime & Jeopardy! & Wheel of Fortune 368 384 16 392 387 (5) 3

Total 1,210 1,434 224 1,540 1,614 74 180

EBITFY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceBroadcast Network: Scripted Pilots and Series (32) (16) 16 5 6 1 22 Cable Network: Scripted Pilots and Series 13 33 20 27 33 6 - First-Run Syndication 14 15 1 22 17 (5) 2 Non-Scripted - (5) (5) - - - 5 Development Expense (30) (30) - (32) (32) - (2)

Total Before Embassy Row (35) (3) 32 22 24 2 27 - Embassy Row 3 2 (1) 4 4 - 2 -

Subtotal (32) (1) 31 26 28 2 29

Days of Our Lives, The Young & the Restless 26 34 8 31 31 - (3) Wheel of Fortune, Jeopardy! 97 104 7 106 106 - 2

Total Daytime & Games 123 138 15 137 137 - (1)

Total 91 137 46 163 165 2 28

p. 36

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

EBITRevenue

189 197

164

196

-

50

100

150

200

250

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

92

81

70

94

-

10

20

30

40

50

60

70

80

90

100

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

p. 37

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

Revenue($MM) FY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceLibrary 162 189 27 161 182 21 (7) All other Products (3) 8 11 3 - (3) (8) Challenge 30 - (30) - 14 14 14 Library, Overhead & Challenge 189 197 8 164 196 32 (1)

EBIT($MM) FY12 FY13 FY12 vs FY13

Budget Forecast Variance MRP Budget Variance VarianceLibrary 91 111 20 92 108 16 (3) All other Products (3) (6) (3) (5) (6) (1) - Net G&A (18) (24) (6) (17) (18) (1) 6 Challenge 22 - (22) - 10 10 10 - Library, Overhead & Challenge 92 81 (11) 70 94 24 13

p. 38

69 64 74 68

39 54 42 55

16

3412

292

3

3

136

34

30

29

-

20

40

60

80

100

120

140

160

180

200

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

Int'l TV U.S. TV SPHE Merch/Other Off-Net Ad Sales($MM)

U.S. Production – Product Library

EBITRevenue

162

189

161

182

91

111

92

108

-

20

40

60

80

100

120

FY12Budget

FY12Forecast

FY13MRP

FY13Budget

($MM)

p. 39

FY12 and FY13 Risks & Opportunities

($MM) EBIT Cash EBIT Cash

Community not renewed for 4th Season - - (7) 14

Rules of Engagement not renewed for 7th season - - (5) 7

Broadcast network pilot slate and/or timing +/- TBD +/- TBD +/- TBD +/- TBD

Int'l Distribution incremental deals or product selections (assumes 50% profit rate) 10 - 25 10

Int'l Distribution customer reneg, assumed deals don't close or product selections (assumes 50% profit rate) (3) (15) (20) (35)

Networks - PMP asset writedown for shut down scenario - - (4) -

Networks - Strong YoY ad sales growth projected in FY13 - 20%-50% for main channels across the portfolio (excl India) - - (14) (12)

Networks - Venezuela currency restrictions lead to change in accounting - - (4) (4)

Networks - Dollar strengthens by 10 % - - (40) (30)

Networks - Dollar weakens by 10% - - 40 30

International Production - delayed delivery of episodes (2) - - -

Subtotal 5 (15) (29) (20)

Acquisitions/Divestitures

Networks - MSM minority stake acquisition - - - (144)

Networks - MaaTV acquisition - - - (60)

Networks - Bhojpuri acquisition - - - (80)

Networks - Put Option 18% of GSN - $234m in Cash and forced dividend down to $10m cash - - - (260)

Networks - GSN mobile games company (Mocospace) - this amount is net of Dividend payout - - - (10)

Networks - Sale of GSN's CPMstar - - +/- TBD 50

Subtotal - - - (504)

Total 5 (15) (29) (524)

FY 12 FY 13

p. 40

APPENDIX

p. 41

International Production – Variances to Budget & MRP

($MM) FY12 FY13

FY12 Budget / FY13 MRP 31$ 34$ Restatement reflecting transfer of sales dept. overhead to Int'l Distribution 5 6 Restatement reflecting reduction of rent allocation 1 Restated EBIT 36$ 41$

Volume of Commissions/Deliveries:European Companies (12) (11) Middle East (3) (3) Latin America (7) (4)

Mobile Business (5) (2)

Teleset Delayed Consolidation (3) (2)

Library Format Sales 1 (1)

Russia Increased Library Sales 4 2

Global Hit Format Assumption (3)

Increased Development (3)

Group Overhead (2)

Severance Expense (3)

FX (2) (1)

Other 2 (2)

Total Variance (28) (32)

FY12 Forecast / FY13 Budget 8$ 9$

p. 42

International Production – Detailed EBIT EBIT

($MM) FY12 FY13 FY12 vs FY13Budget * Forecast * Variance MRP * Budget Variance Variance

WWTBAM 23 21 (2) 18 16 (2) (5) Other formats 2 4 2 3 5 2 1

France (SPT + Starling) 5 6 1 4 2 (2) (4) Russia (SPT + Lean-M) 8 9 1 8 7 (1) (2) Germany 2 - (2) 2 1 (1) 1 UK (Victory + Gogglebox) 1 1 - 2 1 (1) - Tuvalu 1 2 1 4 2 (2) - Toro 5 (2) (7) 6 2 (4) 4 Mobile 3 (2) (5) 2 - (2) 2

Europe 25 14 (11) 28 15 (13) 1

Miami 4 (2) (6) 2 1 (1) 3 Floresta 2 - (2) 4 2 (2) 2 Teleset 5 1 (4) 4 1 (3) -

Latin America 11 (1) (12) 10 4 (6) 5

Middle East 2 (1) (3) 4 1 (3) 2 Asia - (1) (1) - - 1

General Development (2) (2) - (2) (5) (3) (3) Overhead including Allocations (10) (13) (3) (13) (16) (3) (3) Other 1 - (1) 1 1 - 1 Reserves/Challenge (3) 2 5 - - - (2)

Total Other (14) (13) 1 (14) (20) (6) (7) - Global Hit Format 1 - (1) 3 - (3) -

Mergers & Acquisitions (1) (1) - 1 - (1) 1

EBIT before PPA 49 22 (27) 53 21 (32) (1)

Purchase Price Amortization (13) (14) (1) (12) (12) - 2

EBIT Before Shine Monetization 36 8 (28) 41 9 (32) 1

Shine Monetization - 26 26 - 11 11 (15) -

EBIT After Shine Monetization 36 34 (2) 41 20 (21) (14)

* FY12 EBIT restated to be consistent with FY13, reflecting a transfer of $5MM sales dept. overhead to Int’l Distribution group.

p. 43

International Production – Detailed RevenueRevenue

($MM) FY12 FY13 FY12 vs FY13Budget Forecast Variance MRP Budget Variance Variance

WWTBAM 25 23 (2) 19 17 (2) (6) Other formats 7 14 7 11 14 3 -

France (SPT + Starling) 46 29 (17) 50 33 (17) 4 Russia (SPT + Lean-M) 73 43 (30) 71 50 (21) 7 Germany 37 13 (24) 40 21 (19) 8 UK (SPT + Gogglebox) 17 15 (2) 26 20 (6) 5 Tuvalu 21 18 (3) 28 22 (6) 4 Toro 38 14 (24) 44 20 (24) 6 Mobile 29 16 (13) 28 - (28) (16)

Europe 293 185 (108) 317 197 (120) 12

Miami 45 16 (29) 34 22 (12) 6 Floresta 30 8 (22) 36 19 (17) 11 Teleset 40 - (40) 48 - (48) -

Latin America 115 24 (91) 118 41 (77) 17

Middle East 23 6 (17) 34 28 (6) 22

Asia - - - - - -

Global Hit Format - - - 33 - (33) -

Mergers & Acquisitions 27 - (27) 26 - (26) -

Other 9 1 (8) - - - (1) Reserves (35) - 35 (35) - 35 -

Total Other (26) 1 27 (35) - 35 (1)

Total Revenue 432 216 (216) 493 266 (227) 50

p. 44

SPT Financial Summary – Detailed Cash Flow

FY12 FY13

Cash Flow ($ in MM)Budget

Q4 Forecast

Q4 vs Budget

MRP BudgetBudget vs

MRPFY12 vs

FY13International Networks 13 42 29 28 36 8 (6)International Production (49) (19) 30 (58) (70) (12) (51)International Distribution 1,130 1,248 118 1,348 1,335 (13) 87 Total International 1,094 1,271 177 1,318 1,301 (17) 30

US Networks (3) 12 15 35 27 (8) 15US Production & Ad Sales (362) (443) (81) (406) (354) 52 89US Distribution 712 729 17 705 674 (31) (55) Total US 347 298 (49) 334 347 13 49

Total Before Monetization 1,441 1,569 128 1,652 1,648 (4) 79

Shine Monetization 0 82 82 0 11 11 (71)

Total After Monetization 1,441 1,651 210 1,652 1,659 7 8

3D Networks (9) (11) (2) (6) (8) (2) 3