SONY PICTURES ENTERTAINMENTFinancial overview – April 25, 2014

SPE Strategic Growth Priorities

• Maximize the value of SPE’s content library through growth opportunities

• Invest in SPE high margin and high growth businesses

• Maintain strict cost control and financial discipline

• Improve margins while maintaining a focus on absolute profitability and risk management

• Create incremental value that is only possible through One Sony

2

SPE is aggressively pursuing growth opportunities for its content library

3

Convert to 4KDistribute thru innovative film

windows

Produce formats for

internationalmarkets

License to internationalTV networks

License to digital networks

SPE has invested heavily into its high-growth, high margin businesses

4

Source: Internal figures.(1) Investments in third-party acquisitions only.(2) Investments in development and new show deficits only.(3) Includes all production costs.(4) Includes all acquisition spending.

SPE FYE 2007 – 2013 Investment

$415

$960

$762

$1,000

$0

$200

$400

$600

$800

$1,000

$1,200

Media Networks Cable & Broadcast TV Production

Animation Worldwide Acquisit ions

(1)

(2)

(3)

(4)

($M)

SPE will continue to invest in its high-growth, high margin businesses going forward

5

MediaNetworks

Cable & Broadcast TV

Production

Animation

WorldwideAcquisitions

[TBU]

SPE is aggressively managing its overhead costs

6

Source: Internal figures.

($M)

SPE FYE 2014 – 2016 Target Run-Rate Cost Reductions

$162

$100

$0

$30

$60

$90

$120

$150

$180

Overhead & Operat ional Efficiences

Procurement

SPE is also pursuing aggressive reductions in theatrical marketing costs

7

Source: Internal figures.

Target Reductions in SPE Film Marketing Costs

($M)

$168

$152

$180 $170

$0

$25

$50

$75

$100

$125

$150

$175

$200

FYE14 FYE15 FYE16 FYE17

SPE leverages diversification and external partners to manage risk

• Maintain diversified and balanced portfolio of businesses

• Release diversified film slates

• Pursue external slate financing

8

SPE Risk Management Strategies

Diversified Portfolio of Businesses

9

Source: Internal figures.Note: Individual components may not sum to total shown due to rounding.

Theatrical, 21%

TV Licensing,

36%

Advertising, 8%

Affiliate Fees, 9%

Other, 4%

Home Entertainment,

22%Motion Pictures,

61%

TV Production,

22%

Media Networks,

17%

U.S. and Canada,

48%

EMEA, 27%

Asia, 17%

Latin America,

7%

By Business Line By Geography By Source

Diversified Portfolio of Labels

10

Focused on larger-budget films for wide release

Primarily mid-budget films for wide release

Low to mid-budget genre films for wide release

Mid-budget films for wide release

Smaller-budget films for limited release

Smaller-budget films, primarily output deals or limited releases with the occasional wide release

Diversified FYE15 SPE Film Slate

11

Action Comedy Drama

Horror Thriller Family

The Interview

Deliver Us From Evil

No Good Deed

SPE is poised to meet its aggressive MRP targets

12

$223

$100 $200

$400

$369 $380 $373

$456

FYE13 FYE14 FYE15 FYE16

$563 $532

$712$808

FYE13 FYE14 FYE15 FYE16

Revenue Operating Income(1)

6% CAGR

13% CAGR

6.4% 6.0% 6.9% 7.7%OI Margin

Net Cash Flow(2)

7% CAGR

Net Cash Flow including strategic investment spends for MSM India, Game Show Network and Maa TV

$8,803 $8,917

$10,273 $10,467

FYE13 FYE14 FYE15 FYE16

(1) SPE FYE14 Budget reflects $176MM in theatrical marketing cost savings; SPE MRP reflects $180MM in run-rate cost savings achieved between FYE14 and FYE16 from overhead reductions and operational efficiencies.

(2) Top of bar numbers exclude strategic investment spend for MSM India, Game Show Network and Maa TV.

+44% +24%Growth overMRP Period

+19%

[TBU]

SPE is pursuing strategic One Sony opportunities

13

Global Tentpoles

Product & Service

Marketing & Retail

Execution

• Z1 Entertainment Offer launched in 32 countries; already demonstrating successful uptake

• “Super Song Global Music Contest” for 2014 FIFA World Cup being run by SPT/SME/SEL

• Original series for PlayStation being developed by SPT for SNEI/SCE

• SPT channels to be included in SEN-TV offering run by SNEI

• SPHE/SNEI coordination to enhance Video Unlimited features for UV and 4K

• Unprecedented cross-Sony collaboration surrounding the release of The Amazing Spider-Man 2

− ASM2 content / assets to be leveraged at retail, online and in product worldwide

− ASM2 AR app and camera plug-in for Xperia Z1-2 phones showcased at Mobile World Congress (Feb 2014)

− SEL/SPHE developing unified approach for major retailers• Bond 24 collaboration soon to kick off