BUDGET PRESENTATION

Fiscal Year 2015

February 2014

1

FY14 Accomplishments

Networks

Distribution/ Ad Sales

SPT achieved several critical milestones in FY14 and will outperform budget despite a challenging economic environment

• US & International Distribution teams combined efforts to create the first global Netflix deal for Saul and Breaking Bad

• International Distribution generated another record breaking year of revenue at $1.74BN

• Generated over $40MM in revenue for Russian sitcoms including The Voronins (Everybody Loves Raymond) and Happy Together (Married with Children)

• Sold 5th cycle Seinfeld and 3rd cycle King of Queens

• Sold Young & the Restless to TVGN as Soapnet shutdown

• Struck significant long-term deals in major markets with key partners such as HBO Latam, TF1, Sogecable, Foxtel, Seven Network, Shaw, Televisa, Globo, Azteca

• Sold and launched The Blacklist around the world, generating record ratings and the highest revenue ever for an SPT one hour drama

• Added 11 new advertisers to the 2013-14 upfront with an overall increase of upfront dollars of $13.1MM

• The Queen Latifah Show garnered the highest CPMs of any new talk show

• Successfully sold integrations in The Queen Latifah Show to Cover Girl, Pantene, and SC Johnson

• Revenue for doctoroz.com continued to grow (all calendar year): $3.6MM (2011); $5.1MM (2012); $6.3MM (2013)

• Secured ad sales representation of the Rural Media Group’s two television networks, RFD-TV and FamilyNet, with a target of $15MM for CY14

• Negotiated 1st ever substantial guild residual changes, freeing up library product and cable-to-cable product to sell

• Grown revenue year over year and maintained total EBIT despite significant FX headwinds (in excess of $25MM)

– Simple margin maintained in high teens territory at 17%

– After adjusting for FX, all regions of the portfolio increased their revenue performance year over year producing a total portfolio increase of over 10%

• Achieved earnings stability while launching/acquiring several new operations across the world

– Europe: SET Germany, Animax UK SVOD and UK Freeview expansion

– Asia: Dori Indonesia was acquired and GEM Vietnam launched

– Americas: Kalixta was launched in Latin America and Get TV makes its bow in the US in February

• Rationalized operations where appropriate with the profitable sale of SPT interests in Dolphin Ad Sales (UK) and FEARnet (completion pending), as well as a profitable and very strategic pending deal with SPT’s SPIN properties in Latin America and Brazil

• Global programming initiatives Hannibal and Crossing Lines earned critical and ratings successes on various SPT channels around the world with both properties recommissioned for season 2’s

• In spite of ad revenue shortfalls, Crackle is up 50% in terms of unique visitors, enjoyed over 35MM app downloads on mobile and TV and achieved more than 25MM views on its top-rated and Emmy nominated show, Comedians In Cars Getting Coffee

2

FY14 Accomplishments

US Production

• Successful UK (ITV) launch of Release The Hounds followed by German (RTL) orders and pending US (FOX)

• Drove Left Bank US co-pros (Outlander, Mad Dogs US, Craving) and supported development and sale of The Crown (5 season drama series)

• Held WWTBAM summit with key license holders and instigated quarterly review to optimize format

• Identified territories for expansion: Scandinavia, Turkey, Netherlands, Australia, N. Ireland and launched Electric Ray in UK

• Latin America: Hired new LatAm MD; acquired 100% of Teleset; launched Mexico production (El Mariachi); in conjunction with SPT International Distribution, negotiating volume deals with Televisa, RCN and pan regional cable channels to fortify 5 year business plan for high quality Spanish language programming

• Restructured Silver River, integrated Left Bank into SPT, and divested interest in Tuvalu

• Collaborated across Sony divisions and companies to maximize business opportunities with SPT International Distribution, SPT Networks, Sony Music, Sony ATV, and Sony Technology Networks

• Produced and launched SPT’s first Arabic language telenovela, Betty La Fea, to pan-regional Arabic audience

Int’l Production

• Breaking Bad approaches $275MM profitability mark, winning the first Emmy and Golden Globe awards for Best TV Series drama as well as awards from the DGA, SAG, PGA and WGA

• Agreed principal terms with IGT for an extension of rights with a nominal guarantee of $225MM

• Shark Tank rose to record ratings ranking as #1 Friday night program two seasons in a row, and successfully launched into syndication with highest rating for CNBC in 6 years

• Pre-sold Better Call Saul to Netflix and it will be profitable from year one

• SPT has orders for six direct-to-series shows; Helix, Outlander, Better Call Saul, KZK, Battle Creek, Before Crack

• The Blacklist is the highest rated new series this season and has received an early second season order from the network, where it is their highest rated series among total viewers in a decade and broke US DVR records; The Blacklist is also a worldwide phenomenon, scoring the highest rating telecast in the history of the Sky Living channel in the UK, and was the highest rated new US series launch in Germany in the past 5 years

• The Goldbergs emerges as self starter breakout hit series for ABC ranking as #1 Tuesday comedy and beating New Girl

• Capitalizing on the global market by creating original programming for new global platforms like Netflix where SPT has sold KZK Family Murder Series project and Before Crack. Both series are expected to be profitable year one and projected to generate over $100MM in profit each

• Young and the Restless and Days of Our Lives have been renewed through the 16/17, and 15/16 broadcast seasons, respectively

• Masters of Sex 2nd season order

Gross Revenue by Product

Gross Revenue Generated by SPT For All Product

3

Gross Revenue Summary

$MM

FY14 FY15 FY14 vs FY15

Budget Q4 Fcst Variance MRP Budget Variance Variance

US Distribution 721 768 47 677 713 36 (55)

Int'l Distribution 1,728 1,735 7 1,761 1,850 89 115

Int'l Production 321 201 (120) 361 342 (19) 141

US Production & Ad Sales 1,019 1,207 188 1,116 1,115 (1) (92)

Networks 1,928 1,604 (324) 2,152 2,019 (133) 415

Total $5,717 $5,515 ($202) $6,067 $6,039 ($28) $524

5,5156,039

$5,717 $5,515 $6,067 $6,039

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

A B C D

$MM

FY14Budget/Forecast

FY15MRP/Budget

SPT Financial Summary

4

TV Product & Channel Revenue TV Consolidated EBIT

$4,086

$4,496

$4,283 $4,086

$4,620 $4,496

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

A B C D

$MM

FY14Budget/Forecast

FY15MRP/Budget

$608

$648

280

$600

$888

$775

$648

0

150

300

450

600

750

900

A B C D

$MM Monetization

FY14 Budget/Forecast

FY15MRP/Budget

SPT Financial Summary

5

$MM Revenue

FY14 FY15 FY14 vs FY15

Budget Q4 Fcst Variance MRP Budget Variance Variance

US Distribution 47 47 -- 46 46 -- (1)

Int'l Distribution 16 16 -- 12 12 -- (4)

Int'l Production 381 301 (80) 444 434 (10) 133

US Production & Ad Sales 1,911 2,118 207 1,989 2,000 11 (118)

Networks 1,928 1,604 (324) 2,129 2,004 (125) 400

TOTAL $4,283 $4,086 ($197) $4,620 $4,496 ($124) $410

EBIT

FY14 FY15 FY14 vs FY15

Budget Q4 Fcst Variance MRP Budget Variance Variance

US Distribution 33 32 (1) 31 31 -- (1)

Int'l Distribution (40) (43) (3) (44) (44) -- (1)

Int'l Production 10 10 -- 20 15 (5) 5

US Production & Ad Sales 263 344 81 372 310 (62) (34)

Networks 334 265 (69) 396 336 (60) 71

TOTAL $600 $608 $8 $775 $648 ($127) $40

IGT Sale -- 163 163 -- -- -- (163)

Celador vs Disney Settlement -- 73 73 -- -- -- (73)

Music Sale -- 44 44 -- -- -- (44)

TOTAL Including Monetization $600 $888 $288 $775 $648 ($127) ($240)

3Net (5) (4) 1 (2) -- 2 4

Variance to Budget / Prior MRP EBIT

6

$MM FY14 FY15

Prior Plan $600 $775

MSM - FY14 incl. SET ad sales downside offset by $20MM+ IPL amort upside; FY15 ($26MM) from lower ad revenues, ($4MM) MAX2 Launch (5) (30)

GSN - FY14 ($11MM) primarily lower digital revenues; FY15 ($11MM) primarily lower digital revenues (11) (11)

Domestic Networks - Crackle ($8.5MM) slower than expected growth of ad sales, movie channels ($3MM) (12) --

Networks - Asia/Europe/Latam - lower revenues, TV1 impairment and Dolphin gain (20) --

New Networks launches budgeted but not completed 15 --

Distribution sales of library product primarily Russia; Raymond, Married With Children in both FY14 and FY15 16 4

Production - lower commissions due to ongoing instability in the Middle East and market challenges across Europe and the UK, in both FY14 and FY15 (14) (2)

Latin America ultimate write off (4)

Lower central development spend 2

WWTBAM - Lower format sales India & Middle East. off air in the UK. (4)

Lower sales for other non-scripted format sales world wide (2)

Breaking Bad - FY14: Primarily Netflix Sale $46MM, and improved ultimate $56MM, FY15: Netflix avail accelerated to FY14 ($46MM) 112 (46)

Queen Latifah - Lower ad sales revenues due to lower ratings (9) (13)

Incremental Series - 8 new network series vs 5 assumed (12)

Goldbergs continues vs Michael J. Fox assumed at Budget (MJF has early SVOD rights Goldbergs does not) (9) (22)

IGT Royalty accelerated as a result of new minimum guarantee (18)

Seinfeld - Cable Sale 20

New Netflix straight to series order 10

Helix - increased distribution ultimates and revenue 5

Other (3) (1)

FX (38) (17)

Total Variance $8 ($127)

Forecast/Budget Before Monetization $608 $648

IGT 163 --

Celador vs Disney Settlement 73 --

Music Sale 44 --

Forecast/Budget After Monetization $888 $648

Net Overhead Summary

7

$MM Net Overhead

FY14 FY15 FY14 vs FY15

Budget Q4 Fcst Variance MRP Budget Variance Variance

US & Int'l Networks -Existing 327 306 21 339 331 8 (25)

Int'l Distribution 59 53 6 54 54 -- (1)

US Distribution 14 15 (1) 16 16 -- (1)

US Production & Ad Sales 47 47 -- 42 41 1 6

Int'l Production 58 57 1 60 57 3 --

Sub-Total $505 $478 $27 $511 $499 $12 ($21)

Networks - New Investment 24 2 22 30 23 7 (21)

Int'l Production - New Investment -- -- -- 1 1 -- (1)

Total $529 $480 $49 $542 $523 $19 ($43)

1. Networks

9

Networks – FY15 Outlook

• Major new financial milestones will be achieved by SPT Networks in FY15

– Revenue will surpass $2BN

– EBIT will exceed $330MM

– This represents year over year revenue and EBIT growth of 25% and 27%, respectively

• Despite the year over year progress, Networks EBIT is projected to be ($60MM) behind the MRP target for FY15 due to variances from two businesses

– MSM is ($48MM) behind MRP following a ($30MM) EBIT miss in FY14 as a result of a very difficult ad market and lower ratings on the flagship channel and the inclusion of launching MAX2 (movie channel) in FY15 ($4MM)

– GSN is ($11MM) behind plan due largely to a lower outlook for the Digital business based upon lower performance levels than anticipated in FY14

– Branded channels are in line with MRP

• The year over year earnings growth will be achieved while also continuing to invest in the business to help sustain the strong growth profile into the future. Specific growth opportunities factored into the Budget include:

– A GEC channel in India

– An Indian movie channel

– CineSony France

– Dori Israel

• Included within the Budget are several significant assumptions that add an element of risk to the outlook

– The MSM Budget assumes that there will be significant ratings growth on the flagship channel

– The UK operation has an inflection point year as it seeks to fully monetize the new investment in Freeview distribution

– Latin America has an aggressive outlook with EBIT growth underpinned by channel ratings increases across the region

– Crackle US is projected to become profitable based largely upon a 30%+ increase in base business ad revenues year over year

FY15 will see Networks cross the $300MM EBIT threshold, over a 35% CAGR across eight consecutive years of record earnings

Networks – Financial Summary vs. Budget/PY MRP

10

Revenue EBIT

Note: Revenue unfavorable FX variance is ($93MM) in FY14, ($52MM) in FY15; EBIT unfavorable FX variance is ($38MM) in FY14, ($17MM) in FY15. Note: EBIT excludes 3Net EBIT of ($4MM) in FY14 forecast.

• Revenue and EBIT targets missed across the portfolio in FY14 with material EBIT downside in MSM (-$25MM incl. HO Challenge), Crackle (-$8.5MM), and GSN (-$11MM)

• FY15 downside versus MRP largely from MSM (-$48MM) and GSN (-$11MM)

1,8352,077

$1,604

$2,004

93

52$1,928

$1,604

$2,129 $2,004

0

500

1,000

1,500

2,000

2,500

$MM FX Impact

FY14Budget/Forecast

FY15MRP/Budget

296

379

$265

$336

38

17

$334

$265

$396

$336

0

50

100

150

200

250

300

350

400

450

$MM FX Impact

FY14Budget/Forecast

FY15MRP/Budget

19%25%

20%

0%

20%

40%

60%

Sony Int'lNetworks

Fox Int'l Channels(ex Nat Geo)

Chellomedia

41% 40% 44%

0%

20%

40%

60%

Discovery Scripps NatGeo (Fox)

25%

42%

0%

20%

40%

60%

Viacom Disney

11

Average

21%

Source: Company filings and CapIQ. (1) Excludes US Networks/GSN, Crackle and Home Office Overhead Allocation and includes MSM. (2) FIC estimated margin range of 25%-30%; NatGeo and FIC margins for FY12 as per FIC Investor Presentation. (3) Per Citi, 33%-34% pro forma for SBS and Euro Sport acquisitions. (4) Includes MTV/VH1, Nickelodeon, Comedy Central International Networks margin estimate per Citibank, reported Media Networks margin of 41%.

Factual-Based Programming

• Business model based on factual and reality

programming which is cheaper than US scripted content

Programming Allocated from US Parent

• US parent supplies own programming at an “allocated”

cost, which may not always be at true market rates

Branded International Channels

• Business model based primarily on acquiring US

scripted content

DRAFT

Average

42%

Average

33%

(1) (2)

(2) (3)

(4)

Networks – Competitor EBIT Margins (LTM 3/31/13)

US-Owned Branded International Channels

33% 34%

0%

20%

40%

60%

80%

100%

Sony GSN AMC

25%

51%

25%

0%

20%

40%

60%

80%

100%

Sony MSM Sun Zee

Networks – Competitor EBIT Margins (LTM 3/31/13)

12

Average

(ex-Sun)

25%

Source: Company filings and CapIQ. (1) Fox does not disclose Star financials. A quote from a Media Analyst from 2013 that states their margins were approx. 30% but are expected to decline with increase in sports programming.

TV18 Broadcast division has ~4% margins and TV 18 Networks operates at a loss. (2) Sun’s business model allows them to realize higher margins through its library with rights in perpetuity and revenue sharing arrangements with content providers. (3) GSN excludes purchase price amortization.

DRAFT

Average

34%

(3)

(2)

India Networks(1)

US Basic Cable Networks

Networks – Financial Summary

13

Revenue

$MM FY14 FY15 FY14 vs FY15

Budget Forecast VarianceVariance

Excl. FXMRP Budget Variance

Variance

Excl. FXVariance

International

EMEA 242 233 (9) (11) 237 232 (5) (14) (1)

Latin America 221 197 (24) (9) 252 234 (18) (15) 37

Asia (excl. MSM & Ch 8) 208 178 (30) (7) 196 195 (1) 1 17

Sub-Total 671 608 (63) (27) 685 661 (24) (28) 53

India 692 591 (101) (44) 747 699 (48) 7 108

New Business Investment (FY14/FY15) 102 3 (99) (99) 80 74 (6) (6) 71

Total International 1,465 1,202 (263) (170) 1,512 1,434 (78) (27) 232

U.S.

GSN 369 345 (24) (24) 428 396 (32) (32) 51

Crackle 47 39 (8) (8) 75 63 (12) (12) 24

Sony Movie Channel, CineSony 16 8 (8) (8) 33 33 -- -- 25

Games 9 6 (3) (3) 11 8 (3) (3) 2

New Business Investment (FY14/FY15)/Bash Games 22 2 (20) (20) 70 70 -- -- 68

Total U.S. 463 400 (63) (63) 617 570 (47) (47) 170

Home Office/Other -- 2 2 2 -- -- -- -- (2)

Total $1,928 $1,604 ($324) ($231) $2,129 $2,004 ($125) ($74) $400

EBIT

FY14 FY15 FY14 vs FY15

Budget Forecast VarianceVariance

Excl. FXMRP Budget Variance

Variance

Excl. FXVariance

International

EMEA 35 28 (7) (9) 46 47 1 (4) 19

Latin America 53 41 (12) (4) 61 59 (2) -- 18

Asia (excl. MSM & Ch 8) 48 30 (18) (11) 37 35 (2) -- 5

Sub-Total 136 99 (37) (24) 144 141 (3) (4) 42

India 150 120 (30) (5) 194 150 (44) (26) 30

New Business Investment (FY14/FY15) (24) (7) 17 17 (19) (19) -- -- (12)

Total International 262 212 (50) (12) 319 272 (47) (30) 60

U.S.

GSN 82 71 (11) (11) 101 90 (11) (11) 19

Crackle (1) (10) (9) (9) 3 -- (3) (3) 10

SMC, CineSony, FEARnet, Games, Hollywood Suite (4) (8) (4) (4) 1 1 -- -- 9

New Business Investment (FY14/FY15)/Bash Games -- (2) (2) (2) 10 10 -- -- 12

Total U.S. 77 51 (26) (26) 115 101 (14) (14) 50

Home Office Overhead/Support (36) (34) 2 2 (39) (38) 1 1 (4)

General/MSM India Challenge 31 -- (31) (31) -- -- -- -- --

Monetization (Dolphin, FEARnet, SPIN deal, Tamil) -- 36 36 36 1 1 -- -- (35)

Total $334 $265 ($69) ($31) $396 $336 ($60) ($43) $71

3NET (5) (4) 1 1 (2) -- 2 2 4

2. Distribution & Ad Sales

• Broadcast:

– Renew Queen Latifah

– Create new development/syndication model with Hearst or Tribune

– Increase licensing of library product in diginet space (Antenna, Cozi, Bounce, MeTV, GetTV)

– Maximize and secure top offnet value for The Blacklist

– Further progress guild waiver negotiations to free up residually-locked current and library TV product for monetization in broadcast, cable and diginet space

• Cable:

– Working with FX to close feature slate output deal

– Looking to split rights with Turner to sell an additional Seinfeld window

– License English language product to US Spanish networks

– Sell second window of Days of Our Lives and cable-to-cable shows based on residual waivers

• SVOD:

– Close SPA output deal

– Negotiate AVOD/SVOD Amazon deal

– Negotiate OTT Comcast library deal

– Maximize offnet value for The Blacklist and Helix

– Concentrate efforts on building sales team

15

US Distribution – FY15 Outlook

Maximize value of key properties

US Distribution – Financial Summary

16

Gross Revenue

$MM FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

2012 to 2015 Major Releases (Pay) 137 132 (5) 109 102 (7) (30)

2010 to 2014 Major Releases (Free) 67 85 18 80 80 -- (5)

Other Current 72 72 -- 78 70 (8) (2)

Library 75 75 0 75 75 -- (0)

Total MPG 351 364 13 342 327 (15) (37)

Total WW Acquisitions 48 55 7 49 45 (4) (10)

Starz Bonus 47 47 -- 46 46 0 (1)

First Run and off-net Syndication 228 220 (8) 185 150 (35) (70)

Library 47 82 35 55 145 90 63

Total TV 322 349 27 286 341 55 (8)

Total 721 768 47 677 713 35 (55)

Profit Contribution / EBIT

FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

MPG 183 192 9 179 171 (8) (21)

WW Acquisitions 20 24 4 21 19 (2) (5)

TV 75 128 53 91 77 (14) (51)

Starz Bonus 47 47 0 46 46 0 (1)

Total 325 391 66 337 313 (24) (78)

G&A (14) (15) (1) (15) (15) -- (0)

Profit Contribution $311 $376 $65 $322 $298 ($24) ($78)

Transfer to Product Owners (278) (344) (66) (291) (267) 24 77

EBIT $33 $32 ($1) $31 $31 ($0) ($1)

47 47 46 46

82 87 85 82

147 148 131 118

$276 $283 $262 $246

0

125

250

375

$MM Starz Bonus Free - Current Pay - Current

FY14Budget/Forecast

FY15MRP/Budget

75 75 75 75

38 47 41 43

86 10 9

$121 $128 $126 $127

0

50

100

150

$MM Library Free - Flow Pay - Flow

FY14Budget/Forecast

FY15MRP/Budget

17

US Distribution – Motion Picture Revenue

Library/Flow Motion Picture Revenue

$0.97 $0.91 $0.92 $0.86 Pay DBO ($B)

Note: Based on film slate as of 1/22/14.

Current Motion Picture Revenue

18

US Distribution – TV Revenue

47

8255

14575

74

57

53

153

146

128

97

$275

$302

$240

$295

0

50

100

150

200

250

300

350

$MM Library First Run Syndication Off-Net Syndication

FY14Budget/Forecast

FY15MRP/Budget

19

US Ad Sales – FY15 Outlook

Upfront volume key to growth in pricing

• Marketplace

– Low upfront volume created challenging scatter market

– Q4 was extremely slow with reduced pricing

– Direct response was critical to Q4, 30% of inventory vs. 15% of inventory a year ago

– Lining up new upfront prospects for 14/15 to improve volume

• Broadcast

– Only new entry to syndication daytime will be Meredith Vieira. Cancellation of Katie should boost revenue for Queen Latifah and Dr. Oz

– Sell advertisers across slate of comedy (Seinfeld, King of Queens, Community, and Rules of Engagement). Increase variety of clients in Rules of Engagement and Community

– :10’s challenge of $2MM with new 20 second unit

– Integrations critical to delivering budget goals

• Cable

– Representing RFD Channel for CY 2014 – Rural Entertainment in 50MM homes

– Deliver $15MM budget with a combination of direct response and general rate

US Ad Sales – Financial Summary

20

$MM FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

Gross Revenue

KING OF QUEENS 15 13 (2) 13 13 -- --

TIL DEATH 4 3 (1) 2 1 (1) (2)

RULES OF ENGAGEMENT 23 21 (2) 22 22 -- 1

COMMUNITY 8 4 (4) 13 7 (6) 3

SEINFELD 30 29 (1) 27 27 -- (2)

DR OZ 52 49 (3) 50 50 -- 1

QUEEN LATIFAH 25 14 (11) 55 36 (19) 22

WHEEL OF FORTUNE, JEOPARDY! 14 13 (1) 13 13 -- --

:10s CHALLENGE -- -- -- 2 2 -- 2

All Other 4 2 (2) 2 -- (2) (2)

Subtotal 175 148 (27) 199 171 (28) 23

Playstation (1) 25 13 (12) -- -- -- (13)

Fearnet 3 2 (1) 4 3 (1) 1

Doctoroz.com 6 6 -- 8 8 -- 2

RFD -- -- -- 15 15 -- 15

Other Third Party Distribution 2 1 (1) 1 1 -- --

Total Gross Revenue $211 $170 ($41) $227 $198 ($29) $28

Costs Related to Revenue (184) (154) 30 (188) (178) 10 (24)

Ad Sales Overhead (16) (16) -- (14) (13) 1 3

Profit Contribution $11 $-- ($11) $25 $7 ($18) $7

Transfer to Product Owner (19) (11) 8 (35) (16) 19 (5)

EBIT ($8) ($11) ($3) ($10) ($9) $1 $2

(1) Effective FY15, PlayStation is reflected within Crackle.

21

International Distribution – FY15 Outlook

Outperforming historical high revenue in FY14, reaching a new record in FY15

• Revenue of $1.85BN projected in FY15 - $115MM up from FY14, $89MM up on MRP

– US and International scripted TV product sales are the main drivers of growth

– We are delivering higher value through better exploitation of flow/library content

• Maximize growth opportunities across SVOD and Emerging Markets:

– Netflix and Amazon are rolling out services to more countries, plus more local SVOD players (e.g., DLA, Avex, Rogers)

– Buying patterns are evolving away from bulk to more targeted buying (e.g., Netflix Breaking Bad/Saul deal)

– Partner with new SVOD and AVOD platforms and grow in emerging markets (e.g., China, Indonesia, Russia, India and Africa)

• Work within SPT to find new ways to create shows

– EMEA co-productions with US Production

– Look for local content creation opportunities (e.g., UK, Russia, LatAm)

– Partnering with Crackle to create original content

• Collaborate across Sony divisions to maximize opportunities

– Negotiate carve-outs (SEN)

– Develop “Millionaire” Project in India, Middle East

– Tie in with Playstation in Japan and France

– The Blacklist opportunity with Sony Mobile

• Supplement/reallocate resources in key markets to support continued growth

Key Deal Road Map

Country/Deal Estimated Completion Estimated Term Value ($MM)

Russia/FTV Q3FY15 3 Years $100 - $120

S. Korea/BC/Pay Q4FY15 3 Years $75 - $100

Italy/Pay Extension (Sky) Q3FY15 3 Years $100 - $120

Italy/FTV Q4FY15 3 Years $50 - $80

Total $325 - $420

International Distribution – Financial Summary

22

$MM Gross Revenue

FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

MPG Current 561 531 (30) 526 513 (13) (18)

MPG Flow 197 225 28 191 214 23 (11)

MPG Library 197 208 11 192 220 28 13

Total MPG 955 964 8 909 947 38 (17)

WW Acquisitions 178 176 (2) 174 176 2 --

TV Current 437 404 (34) 505 544 39 141

TV Library 75 70 (5) 70 70 -- --

TV Int'l Production 61 101 41 86 93 7 (8)

TV Int'l Acquired/Other 22 20 (2) 17 20 3 (0)

Total TV 595 595 (0) 678 727 49 132

Total $1,728 $1,735 $6 $1,761 $1,850 $89 $116

Total Excl Digital Trans. $1,644 $1,660 $16 $1,695 $1,777 $82 $118

Profit Contribution / EBIT

FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

MPG 513 526 13 488 516 28 (10)

WW Acquisitions 78 78 -- 77 78 1 --

TV 115 175 60 171 155 (16) (20)

TOTAL 706 779 73 736 749 13 (30)

G&A (52) (52) -- (54) (54) -- (2)

Profit Contribution $654 $727 $73 $682 $695 $13 ($32)

Transfer to Product Owners (694) (770) (76) (726) (739) (13) 31

EBIT ($40) ($43) ($3) ($44) ($44) $-- ($1)

23

International Distribution – Motion Picture Revenue

Library/Flow Motion Picture Revenue

Current Motion Picture Revenue

197 225 191 214

197208

192220

$394 $433

$383

$434

0

75

150

225

300

375

450

A B C D

$MM Flow Library

FY14Budget/Forecast

FY15MRP/Budget

142 133 151 130

419 398 375 383

$561 $531 $526 $513

0

100

200

300

400

500

600

700

A B C D

$MM Top 10 Driver Titles Released 2012 - 2016 All Other Current

FY14 Budget/Forecast

FY15MRP/Budget

24

International Distribution – TV Revenue

437404

505544

61 101

86

93

97 90

87

90

$595 $595

$678

$727

0

150

300

450

600

750

$MM U.S. Scripted/Nonscripted Intl Scripted/Nonscripted Library/Other (Acquired Product)

FY14Budget/Forecast

FY15MRP/Budget

Key Feature and TV Drivers – FY15

25

$ in thousands

US Distribution International Distribution

Feature Films / WW Acquisitions Television Total Feature Films / WW Acquisitions Television Total

Title FY15 Revenue Title FY15 Revenue Title FY15 Revenue Title FY15 Revenue

AMAZING SPIDER-MAN, THE 25,000 BLACKLIST 44,000 AMAZING SPIDER-MAN 35,200 BLACKLIST, THE 62,100

MEN IN BLACK 3 20,500 DR. OZ SHOW, THE 34,800 AMAZING SPIDER-MAN 2 30,000 SOAPS 53,900

CLOUDY WITH A CHANCE OF MEATBALLS 2 14,700 QUEEN LATIFAH SHOW, THE (TV SERIES) 18,600 MEN IN BLACK 3 [3D] 29,300 UNFORGETTABLE (2011) 39,300

CAPTAIN PHILLIPS 14,100 Y&R/Days of Our Lives 9,700 DJANGO UNCHAINED 23,800 14/15 NETWORK DRAMA A 32,500

AMERICAN HUSTLE 14,700 CLOUDY 2 18,700 BREAKING BAD 22,000

MONUMENTS MEN 10,500 CAPTAIN PHILLIPS 18,100 BATTLE CREEK 35,000

ZERO DARK THIRTY 11,500 HOTEL TRANSYLVANIA 16,300 OUTLANDER (2014) 20,800

AMAZING SPIDER-MAN 2 10,900 TOTAL RECALL 12,800 MASTERS OF SEX 18,200

22 JUMP STREET 10,900 PIRATES! BAND OF MISFITS, THE 12,700 EVRYBODY LOVES RAYMOND 15,900

BASIC MATH (FKA SEX TAPE) 9,500 ELYSIUM 11,600 HELIX (TV SERIES) 13,600

THINK LIKE A MAN 2 9,100 WHITE HOUSE DOWN 10,000 JUSTIFIED 13,000

ARTHUR CHRISTMAS 9,800 RAKE 13,000

BASIC MATH (FKA SEX TAPE) 9,400 BETTER CALL SAUL 12,000

NIGHT SHIFT, THE 11,600

FRANKLIN & BASH 11,200

DROP DEAD DIVA 11,000

GOLDBERGS, THE 10,900

WWTBM 10,900

DR. OZ SHOW, THE 10,700

All others individually < $9M 43,000

All others individually < $9MM 100,400 Starz Bonus 46,100 All others individually < $9MM 489,300 All others individually < $9M 239,400

Feature Library 75,000 TV Library 145,000 Feature Library 220,000 TV Library 70,000

Subtotal Features 326,800 Subtotal Features 947,000

WW Acquisitions 44,600 WW Acquisitions 176,000

Total 371,400 341,200 712,600 Total 1,123,000 727,000 1,850,000

3. Production

27

International Production – FY15 Outlook

Strong growth from Production across UK and Europe

• Create IP that travels

– Support creation, launch and sales of formats that travel: The Patch, Fan Band, Popheads, Beat Shazaam among others

– Maximize prelaunch of The Crown through integrated sales, marketing and publicity campaign

– Rebuild SPT Russia’s capacity to produce enduring sitcoms and dramas that travel

• Explore expansion opportunities for network of production companies in key strategic markets

– Scandinavia, Turkey, Netherlands, Australia, N. Ireland

• Support and strengthen existing production companies

– Support SPT Latin America/Teleset to execute 5 year plan to build high quality, sustainable library of Spanish language programming for the region

– Monitor progress of Toro Italy, Floresta (Brazil), SPT Arabia

– Seek extension of HUASO (China) license and restructure operation

– Support startup and integration of Electric Ray into SPT

• Continue internal collaboration to drive business across Sony companies

– SPT International Distribution: Continue close collaboration to maximize profits from new and library programming

– SPT Networks: Expand original production opportunities with SPT’s network group

– Sony Music: Continue to work on individual projects and build wider strategic partnership

International Production – Financial Summary

28

Revenue EBIT

$10

$15

$10 $10

$20

$15

0

5

10

15

20

$MM

FY14Budget/Forecast

FY15MRP/Budget

$301

$434

$381

$301

$444 $434

0

100

200

300

400

500

$MM

FY14Budget/Forecast

FY15MRP/Budget

International Production – Detailed Revenue

29

REVENUE

($MM) FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

TV Licensing - WWTBAM 15 16 1 14 12 (2) (4)

TV Licensing - Other Formats 19 10 (9) 18 16 (2) 6

Global Hit Format Assumptions -- -- -- 11 (11) --

Sub-Total Central Formats 34 26 (8) 43 28 (15) 2

EMEA:

France 26 21 (5) 30 30 -- 9

Russia 74 69 (5) 68 81 13 12

Germany 25 15 (10) 33 33 -- 18

United Kingdom (excl. Left Bank) 40 30 (10) 51 53 2 23

Left Bank 65 52 (13) 62 61 (1) 9

Netherlands 3 2 (1) -- -- -- (2)

Italy 11 13 2 21 25 4 12

Middle East 39 20 (19) 50 38 (12) 18

EMEA 283 222 (61) 315 321 6 99

Latin America / U.S. Hispanic 59 52 (7) 84 80 (4) 28--

Asia -- -- -- -- -- -- ------

New TBD Start Up JVs -- -- -- 2 2 2

Other 5 1 (4) 2 3 1 2

Total Other 64 53 (11) 86 85 (1) 32

Total Revenue $381 $301 ($80) $444 $434 ($10) $133

International Production – Detailed EBIT

30

EBIT

($MM) FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

TV Licensing - WWTBAM 14 13 (1) 13 10 (3) (3)

TV Licensing - Other Formats 11 6 (5) 12 10 (2) 4

Global Hit Format Assumption -- 3 (3) --

Sub-Total Central Formats 25 19 (6) 28 20 (8) 1

EMEA:

France 4 5 1 5 5 -- --

Russia 9 30 21 14 20 6 (10)

Germany 1 -- (1) 1 1 -- 1

United Kingdom (excl. Left Bank) 1 (2) (3) 3 4 1 6

Left Bank 6 4 (2) 4 4 -- --

Netherlands -- -- -- -- -- -- --

Italy 1 (2) (3) 2 -- (2) 2

Middle East 2 (2) (4) 4 2 (2) 4

EMEA 24 33 9 33 36 3 3

Latin America / U.S. Hispanic 6 6 (0) 6 6 -- --

Asia (1) (1) -- (1) -- 1 1

--

Central Development Fund (6) (2) 4 (6) (6) -- (4)

Net SG&A (21) (22) (1) (22) (22) -- --

New TBD Start Up JVs -- -- (2) (2) -- (2)

Other 2 (3) (5) -- -- 3

Total Other (20) (22) (2) (25) (24) 1 (2)

Profit Contribution before PPA $29 $30 $1 $36 $32 ($4) $2

Purchase Price Amortization (19) (20) (1) (16) (17) (1) 3

EBIT $10 $10 ($0) $20 $15 ($5) $5

Further strengthen portfolio by creating and selling content in all genres

• Drama – Maximize value of worldwide appetite for quality drama across all outlets with continued emphasis on broadcast and cable and additional focus on new platform opportunities

• Comedy – Maintain and support a strong comedy strategy as part of our overall portfolio business as comedy continues to maintain strong value in the syndicated marketplace

• First Run Syndication – Stabilize and grow the Queen Latifah daytime series for the 14/15 broadcast season and look to expanding the business into new lower cost opportunities

• Long Form – Continue to be the industry leader in MOW and limited series production, expanding our partners to include networks like FX, SyFy, Starz and Cinemax

• Non – Scripted – Capitalize on growth opportunities in cable (USA, TBS, AMC, WE) and continue to strengthen our foothold in broadcast

Content will continue to be created and sold across all platforms

• Digital / Online – Capitalize on growth opportunities in emerging platforms (Amazon, Netflix, Hulu)

• Cable – Consistently profitable with some of the most critically acclaimed and respected series in the industry

• Broadcast

– Leverage the strength of our international partners to increase global demand and extend life of series on air in the US

– Continue to invest in top tier creative talent

31

US Production – FY15 Outlook

Global market creates increased demand for content

US Production Assumptions

32

13/14 14/15 Changes

NETWORK Season Season since PY Plan CABLE FY14 FY15 Changes since PY Plan

Bad Teacher 1st Before Crack 1st Incremental series

Battle Creek 1st Straight to series Better Call Saul 1st

Blacklist 1st 2nd Boondocks 4th

Community 5th Breaking Bad 6th

Goldbergs 1st 2nd 2nd season assumed Client List 2nd No 3rd season

Michael J Fox 1st Not returning Drop Dead Diva 5th 6th 6th season added

Night Shift 1st Franklin and Bash 4th No 5th season

Rake 1st Helix 1st 2nd

Unforgettable 2nd 3rd Justified 5th 6th

Us & Them 1st KZK Project 1st

Welcome to the Family 1st Masters of Sex 2nd 3rd

Men at Work 3rd 4th

Pilots 14 7 7 vs 8 pilots for 14/15 Necessary Roughness 3rd

New Comedies 5 1 Outlander 1st 2nd

Successful TBD Comedies 1 Pilots 1 2 FY14 1 pilot vs 2 in prior plan

New Dramas 3 2 Includes Battle Creek New Dramas 2 3

Successful TBD Dramas 1 1 Successful TBD Dramas 2 1

Days of Our Lives 49th 50th NON-SCRIPTED 13/14 14/15 Changes since PY Plan

The Young and the Restless 41st 42nd Shark Tank 5th 6th

SYNDICATED SERIES Sing Off 4th 5th

Summer Camp 1st No second season assumed

Dr. Oz 5th 6th Talking Bad 1st

Queen Latifah 1st 2nd Mom's Got Game 1st 2nd

Wheel of Fortune 31st 32nd Work for hire 1

Jeopardy! 30th 31st

Pilots 5 5

MADE-FOR-TV MOVIES New Cable Series 2 2

Successful Cable Series 2 1

Movie 9 9 New Network Series 1

Mini-Series 1 1 Successful Network Series 1

Projected Value of Shows in Syndication

33 (1) Values are on an ultimate basis; current and projected values are as of January 2014.

Show in Syndication / Expected to Syndicate

Anticipated Value to SPE(1)

Current Examples

Projected Examples

Breaking Bad

Dr. Oz (6 Seasons)

Justified

Drop Dead Diva

Rescue Me

Damages

Rules of Engagement

Community

$275MM

$90MM

$53MM

$49MM

$45MM

$33MM

$30MM

$21MM

Before Crack

Family Murder Mystery (KZK)

Dr. Oz (8 Seasons)

Better Call Saul

Unforgettable

New Network series such as:

The Goldbergs or The Blacklist

$140MM

$109MM

$105MM

$100MM

$65MM

$75MM – $145MM

Attractive returns with upside potential for shows that prove to be a ‘hit’

US Production – Current Series, Pilots & Development Cost

34

Revenue EBIT

$1,711

$216 $1,714

$1,927

$1,802 $1,799

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

A B C D

$MM Impact from IGT Sale

FY14Budget/Forecast

FY15MRP/Budget

$270

$163

$184

$433

$300

$215

0

150

300

450

A B C D

$MM Impact from IGT Sale

FY14 Budget/Forecast

FY15MRP/Budget

US Production – Current Series, Pilots & Development Cost

35

$MM Revenue

FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

Broadcast Network: Scripted Pilots and Series 601 518 (83) 577 573 (4) 55

Cable Network: Scripted Pilots and Series 474 567 93 537 577 40 10

First-Run Syndication 167 155 (12) 175 155 (20) --

Non-Scripted 41 69 28 91 93 2 24

Total Before Embassy Row 1,283 1,309 26 1,380 1,398 18 89

Embassy Row 41 17 (24) 34 34 -- 17

Subtotal 1,324 1,326 2 1,414 1,432 18 106

Days of Our Lives, Young & The Restless 176 174 (2) 178 179 1 5

Wheel of Fortune, Jeopardy! 214 211 (3) 210 188 (22) (23)

Total Daytime & Games 390 385 (5) 388 367 (21) (18)

TOTAL Before IGT Sale $1,714 $1,711 ($3) $1,802 $1,799 ($3) $88

IGT Sale -- 216 216 -- -- 0 (216)

TOTAL After IGT Sale $1,714 $1,927 $213 $1,802 $1,799 ($3) ($128)

$MM EBIT

FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

Broadcast Network: Scripted Pilots and Series (15) (36) (21) 58 24 (34) 60

Cable Network: Scripted Pilots and Series 69 176 107 106 76 (30) (100)

First-Run Syndication 18 10 (8) 30 20 (10) 10

Non-Scripted 2 8 6 2 3 1 (5)

Development Expense (38) (38) -- (38) (38) -- --

Total Before Embassy Row 36 120 84 158 85 (73) (35)

Embassy Row 6 6 -- 7 7 -- 1

Subtotal 42 126 84 165 92 (73) (34)

Days of Our Lives, Young & The Restless 30 38 8 31 32 1 (6)

Wheel of Fortune, Jeopardy! 112 106 (6) 104 91 (13) (15)

Total Daytime & Games 142 144 2 135 123 (12) (21)

TOTAL Before IGT Sale $184 $270 $86 $300 $215 ($85) ($55)

IGT Sale -- 163 163 -- -- -- (163)

TOTAL After IGT Sale $184 $433 $249 $300 $215 ($85) ($218)

US Production – New Series Investment & Development

36

Represents ONLY development expense and deficit pilots/series and EXCLUDES profitable series

($46)

($77)

($24)($31)

($38)

($38)

($38)($38)

($20)

($19)

($6)($8)

($104)

($134)

($68)

($77)

(160)

(140)

(120)

(100)

(80)

(60)

(40)

(20)

0

$MM Scripted Pilot/Series Scripted Development Allocated Overhead

FY14Budget/Forecast

FY15MRP/Budget

US Production – FY14 Q4 New Series Investment & Development

37

$MM

New Series Investment Pool - FY14 Budget ($104) 13/14 B'cast Pilot Slate 14/15 B'cast Pilot Slate

3 add'l Network series (Us & Them, Night Shift, Bad Teacher) (12) FY14 Budget FY14 Q4 FY14 Budget FY14 Q4

GOLDBERGS back-10 order (9) 8 FY13 8 FY13 5 FY14 5 FY14

Network product mix (9) 5 FY14 6 FY14 4 FY15 2 FY15

13/14 Pilots - timing with FY13 6 13 Total 14 Total 9 Total 7 Total

14/15 Pilots - timing with FY15 1

All Other (7)

Net Variances ($30)

Total Investment Pool - Q4 Forecast ($134)

FY14 Variance

FY14 Budget Economic

Co-

Production Volume Timing Total Q4 Forecast

Network:

GOLDBERGS (vs coprod) (5) -- (2) (7) (9) (14)

WELCOME TO THE FAMILY (7) (1) -- (1) (8)

MICHAEL J FOX (13) -- (13)

RAKE -- (10) (10) (10)

BLACKLIST (2) 2 -- 2 --

US & THEM -- (5) (5) (5)

NIGHT SHIFT -- (2) (2) (2)

BAD TEACHER -- (5) (5) (5)

SAVE ME -- (5) (5) (5)

BATTLE CREEK -- (1) (1) (1)

13/14 Network Pilots (15) 5 2 (1) 6 (9)

14/15 Network Pilots (16) 1 1 (15)

Subtotal Network (58) (14) 3 (17) (1) (29) (87)

Cable:

OUTLANDER (2) -- (2)

HELIX (2) (1) (1) (3)

NECESSARY ROUGHNESS (1) -- (1)

Cable Pilots (3) -- (3)

Subtotal Cable (8) (1) -- -- -- (1) (9)

Development (38) -- (38)

Total ($104) ($15) $3 ($17) ($1) ($30) ($134)

Note: Includes allocation of departmental overhead.

US Production – FY15 Budget New Series Investment & Development

38

Note: Includes allocation of departmental overhead.

$MM

New Series Investment Pool - MRP ($68) 14/15 B'cast Pilot Slate 15/16 B'cast Pilot Slate

GOLDBERGS - Season 2 not assumed in MRP (10) MRP FY15 Budget MRP FY15 Budget

14/15 Pilots - fewer pilots 2 5 FY14 5 FY14 4 FY15 4 FY15

BATTLE CREEK - higher production deficit than TBD (1) 3 FY15 2 FY15 5 FY16 5 FY16

Net Variances (9) 8 Total 7 Total 9 Total 9 Total

Total Investment Pool - FY15 Budget ($77)

FY14 Variance

MRP Economic Volume Total FY15 Budget

Network:

THE GOLDBERGS -- (10) (10) (10)

BATTLE CREEK (2) (1) (1) (3)

14/15 TBD Comedy (2) -- (2)

14/15 Network Pilots (6) 2 2 (4)

15/16 Network Pilots (10) -- (10)

Subtotal Network (20) (1) (8) (9) (29)

Cable:

OUTLANDER (6) -- -- (6)

Cable Pilots (4) -- (4)

Subtotal Cable (10) -- -- -- (10)

Development (38) -- (38)

Total ($68) ($1) ($8) ($9) ($77)

US Production – Library, Net Overhead & Challenge

39

Revenue

$MM FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

US TV Library 189 186 (3) 177 195 18 9

All Other Products -- 1 1 6 2 (4) 1

Net G&A -- -- -- -- -- -- --

TOTAL $189 $187 ($2) $183 $197 $14 $10

EBIT

$MM FY14 FY15 FY14 vs FY15

Budget Forecast Variance MRP Budget Variance Variance

US TV Library 112 112 -- 108 127 19 15

All Other Products (5) (1) 4 (4) -- 4 1

Net G&A (20) (26) (6) (22) (23) (1) 3

TOTAL $87 $85 ($2) $82 $104 $22 $19

US Production – Product Library

40

Revenue EBIT

72 69 68 69

4465

5371

3621

25

211 11

113 811

1223 22

19

21

$189 $186 $177

$195

0

75

150

225

$MM

Int'l Dist US Dist SPHE

Merch/Other Co Dist Ad Sales

FY15MRP/Budget

FY14Budget/Forecast

112 108

$112

$127

$112 $112 $108

$127

0

20

40

60

80

100

120

140

160

$MM

FY15MRP/Budget

FY14Budget/Forecast

Year Over Year EBIT

41

$MM EBIT

FY14 Q4 Forecast $888

MSM - SET ratings recovery, increased ad/sub revenue 36

GSN - increase in digital revenue, $8MM reduction in PPA 19

Domestic Networks - Crackle $10MM higher due to increased ad sales, sub rev increase for Domestic channels 16

Networks - Asia/Europe/Latam - mainly higher ad/sub revenue across majority of the channels 44

Monetization (Dolphin, FEARnet, SPIN in FY14; Tamil Library Sale in FY15) (35)

Growth in operating companies with more commissions assumed: UK, ME, Italy, Germany 15

Lower revenue from sales of library product primarily Russia: Raymond, Married With Children (7)

WWTBAM - lower format sales; Germany renewal booked in FY14. Production: Off air in the UK (6)

Lower purchase price amortization 4

Lower Starz bonus (contractual) (1)

Breaking Bad no longer on air. Lower revenue assumed across all markets (131)

IGT FY14 earned royalties not in FY15 (18)

Happy Endings - No 4th Season (6)

Fewer deficit broadcast series (9 in FY14 vs. 2 assumed in FY15) 40

SVOD Avails in FY15 not in FY14 - Blacklist and Helix 26

Profitable Netflix Series assumed in FY15 - KZK, Before Crack 22

Seinfeld - Cable sale 20

Better Call Saul - Pre-sold to Netflix 8

Other 2

FX (8)

Total Variance Before Impact of FY14 Monetization $40

IGT (163)

Celador vs Disney Settlement (73)

Music Sale (44)

FY15 Budget $648

SPT Cash Flow

42

Note: Distribution MRP cash restated for WPF spend previously held by product owners.

FY14 FY15 FY14 vs FY15

Cashflow Budget Forecast Variance MRP Budget Variance Variance

US Distribution 634 933 299 594 439 (155) (494)

Int'l Distribution 1,458 1,418 (40) 1,324 1,377 53 (41)

Int'l Production (89) (3) 86 (86) (137) (51) (134)

US Production & Ad Sales (500) (622) (122) (420) (560) (140) 62

Networks (245) (340) (95) (72) (67) 5 273

Total Net Cash Flows $1,258 $1,386 $128 $1,340 $1,052 ($288) ($334)

Included Above

Maa - Operational/Purchase Price (106) -- 106 -- -- -- --

MSM Buy Up (56) (56) -- (56) (56) -- --

GSN Put Option Payment/Interest (122) (250) (128) (133) -- 133 250

IPL Installment (delayed until April 2013) (61) (61) -- -- -- -- 61

IPL Payment/WSG Cash Dealyed Installment to April 2014 60 -- (60) -- -- -- --

GSN Dividend to DTV / Acquision Fund (54) (44) 10 (37) (38) (1) 6

Networks Acquisition/New Business Fund (81) (22) 59 (41) (117) (76) (95)

FY14 Networks Divestments -- 27 27 1 1 -- (26)

Int'l Production Acquisition/New Business Fund (64) (15) 49 (50) (65) (15) (50)

ABC/Celador Settlement -- 73 73 -- -- -- (73)

A/R Financing - Distribution -- 300 300 -- (163) (163) (463)

IGT Licensing Deal -- 193 193 4 -- (4) (193)

Total Included Above ($484) $145 $629 ($312) ($438) ($126) ($583)

3D Networks (5) (2) 3 -- -- -- 2