SONY PICTURES ENTERTAINMENTAnalyst Meeting

November 19, 2010

SONY PICTURES ENTERTAINMENT

MICHAEL LYNTON

Chairman & Chief Executive OfficerSony Pictures Entertainment

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Sony Pictures

• SPE is diversified across multiple revenue streams

• Demand for content is growing

• SPE’s footprint is expanding

• Home entertainment consumption is shifting

• SPE is navigating these changes well

• SPE remains focused on financial discipline

• SPE is the only major studio owned by an electronics company, which creates advantages

• SPE is core to Sony’s 3D strategy

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Motion Pictures Television Production Television Networks

SPE is Diversified Across Multiple Business Lines

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Box Office TV Viewership

(1) MPAA, BMO Capital Markets, April 2010(2) Nielsen, and BMO Capital Markets, April 2010

Demand for Content is Growing

US Box Office(1)

US$ BillionsUsage per US TV HH per

Day(2)

Hours: Minutes

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MotionPictures

• 2010 is SPE’s ninth straight year with over $1BN in North American box office receipts

• Eight #1 movie openings in the U.S. in 2009 and six to date in 2010

• Four films over $250 million in worldwide box office receipts in 2009 and three to date in 2010

• 73 #1 openings in the U.S. over last 10 years, more than any other studio

• Multiple franchise films in production

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Upcoming ReleasesColumbia

The Tourist Angelina Jolie, Johnny Depp

How Do You KnowPaul Rudd, Reese Witherspoon, Jack Nicholson, Owen Wilson

James L. Brooks (D)

The Green HornetSeth Rogan, Jay Chou, Cameron Diaz

D = Director

TBU

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Just Go With ItAdam Sandler, Jennifer Aniston

Battle: Los AngelesMichelle Rodriguez,Aaron Eckhart, Bridget Moynahan

Upcoming ReleasesColumbia

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Burlesque Cher, Christina Aguilera

Country Strong Tim McGraw, Gwyneth Paltrow, Leighton Meester

The RoommateLeighton Meester, Minka Kelly

Upcoming ReleasesScreen Gems

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‘Event’ Films in the

Pipeline

• Plans in place for new films from existing franchises

– Spider-Man

– Men in Black 3

– Resident Evil 5

– Underworld 4

• Expanding relationships in animation

– Aardman partnership brings us Arthur Christmas and The Pirates!

• Introducing new franchises

– The Girl with the Dragon Tattoo in production and rights to the rest of the Stieg Larsson Millennium Trilogy secured

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3D at the Box Office

• 3D remains a growth driver

• Internationally, the proportion of box office receipts from 3D has been consistently high

• In the U.S., there have been fluctuations, but recent films have seen the majority of box office receipts from 3D

• Performance has varied by genre, with young-male oriented films generating the highest percentage of box office receipts from 3D

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Motion PicturesTrailers

• The Green Hornet

• The Smurfs

• The Tourist

• How Do You Know

• Zookeeper

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Television

• Large and growing global footprint

• Continued investment in international production and networks

• In the U.S., SPT has 25 series on the air across 13 broadcast and cable networks this season, including 6 new shows

• “The Dr. Oz Show” was renewed for 3 more years

• “The Dr. Oz Show” was sold in 100 territories and is being produced in local language in China, Russia and the Middle East

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Expansion of Networks Globally

122 Feeds

140+ Countries435+ Million HH

22 Languages

mobile

mobile

mobile

mobile

mobile

Includes wholly and partially owned networks

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Culver City

Miami (Latin America/USH)

Bogota

Buenos Aires

Madrid Rome

Paris

LondonHilversum

CologneMoscow

Beijing

Hong Kong

New York

HUASO

FLORESTA

Sao Paolo

International Television Production Expanding Presence

Includes wholly and partially owned production companies

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Home Entertainme

nt

• Consumption patterns are shifting

• Recent pressure resulting from:

– Total number of transactions mainly flat with small fluctuations

– Revenues down as purchases shift to rentals

• A complex landscape going forward

– Physical sell-through under continuing pressure, although mitigated somewhat by growth in Blu-ray

– Rental transactions are up

• Shift from in-store-rental to lower margin subscription and kiosk continues

• Higher margin digital/VOD transactions accelerating and represents a key growth driver

– Potential for new distribution windows

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US Consumer Rental Transactions (billions)(1)

(1) Screen Digest 2010. VOD includes online, telco, MSO and DBS.

Home EntertainmentRental Landscape

• Recent shift within rental has been from physical in-store-rental to lower-margin physical rental options, including kiosk and subscription

• But overall transactions are forecast to grow; growth in higher-margin digital represents an opportunity

(lowest rental margin)

(highest rental margin)

2.7 2.82.9

3.13.2 3.2

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Success in a Changing

Marketplace

• Continue to create high quality films

– Diversity across small, medium and large pictures

– Capitalize on existing franchises

– Introduce new franchises

• Home Entertainment growth drivers

– Blu-ray growth driven by added features including 3D capabilities

– Higher margin digital/on-demand offerings

– New windowing opportunities

• Investment in television assets

– New programs

– Expand network and production footprint

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Success in a Changing

Marketplace (continued)

• Financial discipline

• Leverage Sony United opportunities

• 3D opportunity across SPE divisions

• Leverage growth in emerging markets

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Sony Ownership of SPE creates advantages

• Importance of integration

– Access to content and services differentiates hardware

– Sony services provide a distribution opportunity for SPE content

• Recent collaboration

– SPE films delivered digitally to Sony devices

– SPE was critical to Blu-ray format success

– Synergies created by availability of 3D content and 3D hardware

– SPE content cross-promoted with Sony hardware

– Hardware product placement in films

• Opportunities

– SPE content on Sony services

– 3D films and the 3D network

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3D Initiatives

• TheatricalUpcoming 3D films include: The Green Hornet, Priest, The Smurfs, Arthur Christmas and The Invention of Hugo Cabret

• Digital ProductionsSPE has produced stereoscopic 3D effects for more movies than any other motion picture studio

• Home EntertainmentReleased Cloudy with a Chance of Meatballs last summer as first Blu-ray 3D title available at retail and bundled it with Sony’s Bravia 3D TVs

• TelevisionLaunching 3D network in early 2011 in partnership with Discovery and IMAX

• 3D Technology CenterDevelops and evaluates systems for new 3D program production; creates and drives industry understanding and support of 3D technologies, techniques, and authoring tools

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Emerging Markets

• Key source of growth for the studio

• Established TV networks infrastructure and operating expertise in emerging markets

– Capitalize on growth in both TV audiences and advertising revenues

– Leverage established presence into additional territories

• Local TV production presence enables SPE to exploit TV formats globally

• Cross-Sony collaboration

– SPE content featured on Sony devices and packaging for retail and advertising

– Home entertainment products (e.g., BDs and 3D BDs) bundled with electronics and PS3s

– SPE content displayed outside and inside Sony stores

Q & A

SONY PICTURES ENTERTAINMENT