Sony Pictures Digital Productions Mid-Range Plan September 8, 2011.

Sony PicturesDigital Productions

Mid-Range PlanSeptember 8, 2011

FY12 Mid-Range Plan Strategy

Overview

Sony Pictures Animation

Imageworks

Imageworks Interactive

MRP Financial Projections

Financial Appendix

StrategyOverview

Open Season Franchise Cloudy (9/18/09) Smurfs (7/29/11) -

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

7,440

45,555

76,700

26305

7640

Gross Profit, SPA Releases FY10 - Present ($000)

Digital ProductionsSignificant progress towards meeting strategic goals over the past three years SPA is executing on its objective of producing

financially successful films with franchise potential

4

Open Season 9/29/06

Open Season 2 (DTV) 1/27/09

Open Season 3 (DTV) 1/25/11

* Note: Cloudy gross profit calculation excludes $47MM in legacy costs

** Note: Smurfs at current target -- $140MM DBO, $360MM IBO; excludes negative co-financier impact on GP (~$8.0MM)

***Note: Smurfs target of $500MM WWBO

Open Season Franchise: DTVs increased original Open Season film margin from 2% to 9%

Cloudy Margin: 15%*

Smurfs Margin: 18%**

Open Season (9/29/06)

Surf's Up (6/8/2007)

Cloudy (9/18/09)

Smurfs (7/29/11)***

0

100

200

300

400

500

600

85.1 58.9124.9 140

112.290.2

118.1

360

WWBO, SPA Releases CY06 - Present ($MM)

DBO IBO

Digital ProductionsSignificant progress towards meeting strategic goals over the past three years

Imageworks has dramatically improved its performance by re-sizing the business, increasing efficiency, growing its satellites, improving support for SPA & Columbia and focusing on fewer, larger projects

5*Note: Due to lower cost structure to execute on $155MM revenue business, Imageworks was able to generate a $5.8MM GP in a down revenue year **Note: Q2 Forecast

FY08 FY09 FY10 FY11 FY12

(40,000)

(30,000)

(20,000)

(10,000)

-

10,000

20,000

30,000

40,000

50,000

60,000

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

(30,548) (35,227)

9,020 5,826* 8,000**

146,324 137,491

183,400

128,747*

169,774**

FY08-FY12 Imageworks Revenues vs. EBIT ($000)

Consolidated EBIT Total Unabsorbed Costs Gross Revenue

Digital ProductionsStrategic Priorities

Strategic priorities for SPDP include: Serve as the hub for family films at SPE, which require a unique

sensibility and writing approach

Develop more consistent film output to reduce financial volatility

Produce two franchise-potential films a year (CG animated + live-action hybrid), with flexibility to add a third film if needed:

Success of Smurfs and Cloudy’s strong performance warrant development of those properties as theatrical sequels rather than DTVs

Theatrical sequels perform better than the originals for these films, particularly internationally. On average, international box for animated theatrical sequels has generated 2.2 times the revenue of domestic box since 2004

Work closely with Home Entertainment to realize upside potential for titles like Smurfs that over-perform:

During its first 8 weeks in the U.S., Despicable Me sold 6.4MM units; Alvin & The Chipmunks: The Squeakquel sold 3.7MM units. Smurfs has a conservative target of 2.25MM units for the first 8 weeks in the U.S.

6

Digital ProductionsStrategic Priorities (cont.)

Expand revenues from merchandising, licensing and promotions to realize full franchise potential of these films

Produce shorts opportunistically from theatrical properties to deepen brand awareness pre- or post-theatrical release plus create new revenue streams from the property

Franchise extension The Smurfs : A Christmas Carol will aid sell-through of the film and then broadcast on TV worldwide, generating revenue and sustaining the property awareness in on and off-film years. Consumer Products is also leveraging the short to help re-launch merchandise during the upcoming holiday season

Additional Smurfs, Hotel T and Pirates! shorts are under discussion

Aggressively expand Vancouver to continue to reduce overall costs for SPA and Columbia films in competitive marketplace

Discover additional sources of EBIT through exploring new lines of business that are closely related to the core businesses. Self-fund to significantly reduce these start-up costs

7

9

Sony Pictures AnimationStrategic Focus and Progress

Strategic Focus Progress To-DateBuild profitable franchises from strong brands that can be executed as either theatrical or DTV sequels: High-end CG animated films Mid-tier CG animated films Live-action/animation hybrids

Released live-action hybrid The Smurfs to strong success (#1 film in North America after first five days in release; #1 total international gross for 4 consecutive weekends. Already, Smurfs is the top live-action hybrid family film ever released internationally)

Hotel Transylvania in production Smurfs: A Christmas Carol is produced; 22 minute franchise

extension Released successful DTV Open Season 3 Actively developing Smurfs and Cloudy sequels Several promising projects currently in priority development

based on either well-known brands or concepts with strong franchise potential: Popeye, Familiars and Ninja vs. Samurai

Reduce production budget to compensate for eroding home video market

Reduce production CG animation budget by 10-15%, excluding 3D

Shepherd Aardman relationship CG animated Arthur Christmas in post- production Stop motion Pirates! in post-production Actively developing Pirates! sequel Actively developing Nick Park’s Cavemen United project

Realize fuller set of revenue opportunities

Increase merchandising, licensing and promotional opportunities by working closely with Consumer Products Group

Support Sony Electronics’ initiatives Cloudy, Open Season and Smurfs characters have been key elements in Sony Electronics’ marketing and promotional campaigns. Seek similar opportunities with Hotel T and all upcoming properties

SPA is focused on these following films in production: Arthur Christmas: Aardman, CG animated (3D)

In post-production Directors: Sarah Smith; Script: Peter Baynham (Academy Award

nominee for Borat) Pirates!: Aardman, Stop-Motion (3D)

In post-production Director: Peter Lord

Hotel Transylvania: High-end, CG animated (3D) starring Adam Sandler

In production Directors: Genndy Tartakovsky; Producer: Michelle Murdocca

The Smurfs: A Christmas Carol: High-end CG + 2D (hand-drawn) animation / 22 minute original content value-add piece for Smurfs DVD release and TV

Recently completed Director: Troy Quane; Producer: Kurt Albrecht

Sony Pictures AnimationFranchise Development

10

Sony Pictures AnimationFranchise Development (cont.)

11

Smurfs 2: Live-action hybrid Producer: Jordan Kerner; Writer: Karey Kirkpatrick

Cloudy 2: CG animated Directors: Cody Cameron, Kris Pearn; Producer: Kirk Bodyfelt Executive Producers: Phil Lord, Chris Miller; Writers: John Francis

Daley, Jonathan Goldstein Familiars: CG animated (based on the book published by

Harper Collins) Director: Doug Sweetland; Co-Director: Fergal Reilly Executive Producers: Sam Raimi, Josh Donen; Writers: Adam

Epstein, Andrew Jacobsen Popeye: CG animated (based on the iconic property)

Executive producer: Avi Arad Ninja vs. Samurai: CG animated

Director: Jerome Chen; Producer: Michelle Murdocca Executive Producers: Avi Arad, Ari Arad; Writers: Adam Goldberg,

Chris Bishop

Sony Pictures AnimationFranchise Development (cont.)

12

Muncle Trogg: CG animated Executive Producer: Jane Startz

Planet Pete: CG animated Directors: Butch Hartman Executive Producer: Fred Seibert; Writers: Kathyrn Price, Nicole

Millard Pooch Café: CG animated

Executive Producers: Gil Netter, Bridget McMeel, John Glynn; Writer: Kelly Asbury (Gnomeo & Juliet)

Kazorn and the Unicorn: CG animated Executive Producers: Sam Raimi, Josh Donen; Writer: Lloyd Taylor

Instant Karma: Live-action hybrid Producer Terry Rossio; Writer: Paul Hernandez

Raised by Ghosts: Live-action hybrid Producer: Chuck Gordon; Writer: Mark Perez

13

Sony Pictures Animation Release Schedule

FY12FY12

Q2

Smurfs (Hybrid) (7/29/11)

Q3

Arthur Christmas (11/23/11)

Q4

Pirates (3/30/2012)

Q2

Smurfs (Hybrid) (7/29/11)

Q3

Arthur Christmas (11/23/11)

Q4

Pirates (3/30/2012)

FY13FY13

Q2 Hotel T (9/21/12)

Q2 Hotel T (9/21/12)

FY14FY14

Q2

Smurfs 2 (Hybrid) (8/2/13)

Cloudy 2 (September 2013)

Q2

Smurfs 2 (Hybrid) (8/2/13)

Cloudy 2 (September 2013)

FY15FY15

Q2 TBD Hybrid FY15 (August

2014)

TBD Animation FY15 (September 2014)

Q2 TBD Hybrid FY15 (August

2014)

TBD Animation FY15 (September 2014)

Serve SPA and Columbia as a dependable source of high-quality digital animation and VFX expertise

Further reduce costs by aggressively expanding Vancouver, where we enjoy a 58.4% tax rebate on labor

Maintain industry leadership in innovation and quality

Continue to use large 3rd party projects (e.g. OZ, Green Lantern, Alice in Wonderland ) as a means to reduce SPA and Columbia production cost (less gap cost, shared overhead, shared R&D, stronger talent pool)

Commercialize technology as appropriate to create new sources of revenue

15

ImageworksStrategy

Aggressively expand Vancouver to fully leverage its 58.4% tax rebate on labor: Add additional artist groups (color and lighting) and

expand size of existing departments Projected to reach office capacity of 135 employees by

February 2012 Plan and execute second-stage expansion to double

capacity by the end of CY12 Reduce rates charged by India facility following the

buy-out of our partners by the end of FY12 Given the instability of the New Mexico tax rebates and

lack of talent, assess closing the Albuquerque facility and shift capacity to Vancouver at the end of FY12

ImageworksStrategic Objectives – Expand Vancouver

16

The growing number of artists in Vancouver will complete an increasingly larger share of work relative to Culver City:

At the same time, Imageworks has reduced its expensive Culver City real estate footprint (in sq ft) by 44% since FY08, a net cost reduction of ~$4MM/year, while increasing density in TCSOB

ImageworksStrategic Objectives – Expand Vancouver

17

FY12 FY13 FY14 FY150%

10%

20%

30%

40%

7%

15%

25%

30%

Vancouver: Percentage Share of Overall Project Man-Hours, Animation/Color & Light, FY12 – FY15

CAGR : 44%

ImageworksStrategic Objectives – Large 3rd Party Projects

Continue to target large 3rd party projects (e.g., OZ, Alice in Wonderland, Green Lantern and G-Force) to improve profitability and reduce volatility

Leverage director relationships to generate future business (Sam Raimi, Tim Burton)

Continue to be recognized for industry-leading work, at a competitive price Oscar nomination for Alice in 2010 (Imageworks’ first since

Spider-Man 2 in 2005) was a critical factor in securing the VFX work from Disney for OZ

Imageworks’ accolades during the past year also included a BAFTA and ‘Annies’ nom and a Golden Satellite win for its work in Alice. Imageworks also won a Lumiere Award for its pioneering work in 3D

18

ImageworksStrategic Objectives – Make Imageworks

technology the industry standard and monetize where appropriate

Use innovative technology and partnerships to increase efficiency, reduce development costs, and position Imageworks’ technology as the industry standard Imageworks extends its leadership in Open Source,

driving the Alembic partnership with ILM New image-based lighting pipeline lowered costs while

improving quality for both Smurfs and Green Lantern Pending adoption of G-Mail will dramatically lower costs

while adding significant collaboration tools Exploit opportunities to monetize our technology

– e.g., royalties from Foundry for commercialization of our Katana technology

19

Continue to focus on renewed relationship with Columbia as a critical resource for VFX expertise

Serving the studio – and company – as the “go to” resource on 3D through availability of key staff, technology and facilities

Services provided included: Senior leadership and resources to support Sony Corp.

initiatives in both Culver City and Tokyo Assistance for Columbia 3D logo, Zookeeper and Here

Comes the Boom Custom animation for Smurfs TV marketing campaign

(e.g., characters appearing on America’s Got Talent, McDonalds commercials)

20

ImageworksStrategic Objectives – Sony Corp & Columbia

Resource

22

Maximize unique lower-cost synergies with Imageworks to deliver industry-leading support to internal clients at below-market rates

Lower-than-anticipated costs enabled Interactive to rebate $2MM back to SPE Marketing over the past two years

Lowered costs by relocating business unit to TCSOB Opportunistically self-fund and explore closely-related, high-

margin businesses: Produce social game based on SPA property, relying heavily

on unit’s pre-existing experience in social media as well as gap-time of artists to reduce overall start-up costs Based on results of first game, expand business by

launching a new title each year Game infrastructure can be re-used by SPE Digital

Marketing for other promotional games, dramatically reducing their per-game costs

Produce interactive book based on SPA property, providing higher-level interactivity in an arrangement with one (or more) publishers as a prelude to opportunistically publishing in-house

Expand 3rd party business to continue to reduce overall cost for internal clients, mirroring successful Imageworks’ model

Imageworks Interactive Strategy

MRP Financial Projections

24

SONY PICTURES DIGITAL PRODUCTIONSFY 2012 MID-RANGE PLANREVENUE & EBIT SUMMARY

($000's)

FY 2012 0 FY 2013 0 FY 2014 0 FY 2015

Q2 FORECAST 9/11 MRP 10/10 MRP Variance 9/11 MRP 10/10 MRP Variance 9/11 MRP

NET REVENUESPI $169,774 $155,000 $155,000 $0 $155,000 $155,000 $0 $155,000Interactive 750 1,000 1,000 0 1,250 1,200 50 1,500

Imageworks 170,524 156,000 156,000 0 156,250 156,200 50 156,500Animation 490,909 512,115 805,060 (292,945) 656,632 683,153 (26,521) 686,232TOTAL NET REVENUE $661,433 $668,115 $961,060 ($292,945) $812,882 $839,353 ($26,471) $842,732

EBITSPI $8,000 $0 $0 $0 $0 $0 $0 $0Interactive 400 300 300 0 300 300 0 400

Imageworks 8,400 300 300 0 300 300 0 400Animation (91,700) 73,000 73,000 0 51,200 91,200 (40,000) 88,800TOTAL EBIT ($83,300) * $73,300 $73,300 $0 $51,500 $91,500 ($40,000) $89,200

* FY12 EBIT is currently $10.5M better than ($83.3M) due to improved SMURFS performance. See financial appendix on page 31.

25

SONY PICTURES DIGITAL PRODUCTIONSFY 2012 MID-RANGE PLAN

EBIT RECONCILIATION($000's)

FY12 FY13 FY14

EBIT PER FY12 BUDGET & 10/10 MRP ($101,700) $73,300 $91,500

VariancesImageworks

• EBIT impact on increased work of $14.7M (Green Lantern and Oz) 6,600• Albuquerque rebate - decreased rebate driven by shift of headcount to Vancouver (2,894) (2,986)• Vancouver rebate - increase driven by Vancouver expansion 2,402 3,777• Net Depreciation / Maintenance spending for Hardware / Software - driven by Vancouver expansion 1,453 402 (1,769)• Other, net 147 90 978

Subtotal Imageworks 8,200 0 0

Animation• Removal of FY13 TBD Hybrid (Aug 2012) 7,138 (29,013)• Removal of two FY13 Direct to Video titles (Apr 2012, March 2013) (8,824) (3,571)

• SMURFS performance - $4.3M increased DBO to $140M; $16.3M increased IBO to $325M* 20,642• SMURFS -lower ITV ultimate ($7.2M) compared to prior year MRP and timing of ITV and PTV flows 9,700 (11,529) (2,162)• PIRATES - ($7.2M) int'l release date shift from FY13 to 3/30/12 (Brazil, France, Italy, Spain, Mexico) and ($6.3M)

domestic release date shift from 4/6/11 to 3/30/11 (13,530) 20,734 (1,968)• ARTHUR CHRISTMAS - increased domestic marketing ultimate by ($7.3M); timing of PTV from FY13 to FY14 (5,922) (5,074) 11,196• HOTEL T - ultimate adjustment from $125M DBO to $120M DBO and timing of DHE flows (6,206) 3,795• CLOUDY 2 - delayed timing of pre-marketing spend to FY14; ultimate adjustment DBO/IBO to $100M/$175M per J.

Blake from $125M/$156M prior MRP 3,500 (5,631)• SMURFS 2 - primarily net of production cost increase from $90M to $122M and DBO/IBO to $125M/$325M per J.

Blake from $125M/$190M prior MRP 986 (2,958)• FY15 TBD HYBRID & TBD ANIMATION - pre-marketing spend (9,000)• Other, net (690) (725) (688)

Subtotal Animation 10,200 0 (40,000)

TOTAL VARIANCE $18,400 $0 ($40,000)

EBIT PER 9/11 MRP ($83,300) $73,300 $51,500

* FY12 EBIT is currently $10.5M better than ($83.3M) due to improved SMURFS performance. See financial appendix on page 31.

26


RECEIPTS & CASH FLOW SUMMARY($000's)

FY 2012 0 FY 2013 0 FY 2014 0 FY 2015

Q2 FORECAST 9/11 MRP 10/10 MRP Variance 9/11 MRP 10/10 MRP Variance 9/11 MRP

NET RECEIPTSSPI $169,774 $155,000 $155,000 $0 $155,000 $155,000 $0 $155,000Interactive 24,114 25,773 25,773 0 27,932 27,932 0 30,167

Imageworks 193,888 180,773 180,773 0 182,932 182,932 0 185,167Animation 0 0 0 0 0 0 0 0TOTAL NET RECEIPTS $193,888 $180,773 $180,773 $0 $182,932 $182,932 $0 $185,167

NET CASH FLOWSPI $2,600 $200 $2,700 ($2,500) ($1,200) ($1,600) $400 ($200)Interactive 400 600 635 (35) 900 877 23 1,000

Imageworks 3,000 800 3,335 (2,535) (300) (723) 423 800Animation (216,800) (244,100) (260,800) 16,700 (257,600) (258,000) 400 (247,000)TOTAL NET CASH FLOW ($213,800) ($243,300) ($257,465) $14,165 ($257,900) ($258,723) $823 ($246,200)

27


CASH FLOW RECONCILIATION($000's)

FY12 FY13 FY14

CASH FLOW PER FY12 BUDGET & 10/10 MRP ($245,600) ($257,465) ($258,723)

VariancesImageworks• Increased receipts due to increased work 14,700• Increased overhead disbursements to support increased work (10,000)• Timing of India buyout from FY11 to FY12 (1/3 of remaining interest) (1,800)• Decreased salary & fringe due to lower average artist salaries (Vancouver labor savings) 1,131 3,233• Albuquerque and Vancouver Rebate 3,357 (1,033)• Capital expenditures (3,800) (1,800)• Removal of prior year MRP challenge (3,188)

Subtotal Imageworks 2,900 (2,500) 400

Animation• Removal of FY13 TBD Hybrid 35,292• Smurfs - NY tax rebate delayed from prior MRP FY12 to FY13 12,300• Arthur Christmas and Pirates - UK rebate delayed from prior year MRP FY12 to FY13 11,766• Timing of participation/financing payments (6,925) (4,022)• Timing of pre-production spend (3,611)• Net, other 533 232 423

Subtotal Animation 28,900 16,665 423

TOTAL VARIANCE 31,800 14,165 823

CASH FLOW PER 9/11 MRP ($213,800) ($243,300) ($257,900)

Financial Appendix

Before FY12 FY13 FY14 FY15 After TotalFY12 Q2 Forecast MRP MRP MRP FY15 Project

Live Action VFXThe Amazing Spiderman $1,784 $52,813 $0 $0 $0 $0 $54,597Green Latern 41,222 16,871 - - - - 58,093 Oz - 13,000 59,860 - - - 72,860 MIB 3 4,373 34,627 - - - - 39,000 Pacific Rim - - 30,900 7,000 - - 37,900 TBD - - 2,140 73,000 80,000 - 155,140 Other - Test, Spec, Work, and Bids - 434 - - - - 434 Subtotal 47,379 117,745 92,900 80,000 80,000 - 418,024

SPA (Animation)SPA - Hotel T 17,111 20,490 17,338 - - - 54,939 SPA - Hotel T 3D - - 3,374 - - - 3,374 SPA - Smurfs 32,747 12,247 - - - - 44,994 SPA - Smurfs 3D 530 513 - - - - 1,043 Aardman - Arthur Christmas 36,337 22,096 - - - - 58,433 Aardman 3D 712 2,127 - - - - 2,839 SPA - Cloudy 2 - 2,500 37,500 10,000 - - 50,000 SPA - Smurfs 2 - 1,712 22,562 5,726 - - 30,000 SPA - Animation TBD FY15 - - 10,000 30,000 15,000 - 55,000 SPA - Hybrid - TBD FY15 - - - 20,085 9,915 - 30,000 SPA - Animation TBD FY16 - - - 12,000 34,000 9,000 55,000 SPA - Hybrid - TBD FY16 - - - - 20,085 9,915 30,000 SPA - Animation TBD FY17 - - - - 7,500 47,500 55,000 SPA Contingency - (4,656) (15,774) (2,811) (11,500) - (34,741) Subtotal 87,437 57,029 75,000 75,000 75,000 66,415 435,881

Revenue Reserve - (5,000) (12,900) - -

Total Revenue $134,816 $169,774 $155,000 $155,000 $155,000 $66,415 $853,905

Third Party Revenue 41,222 29,871 92,900 80,000 80,000 - 323,993 SPE Revenue 93,594 139,903 62,100 75,000 75,000 66,415 529,912 Total 134,816 169,774 155,000 155,000 155,000 66,415 853,905

Live Action VFX $47,379 $112,745 $80,000 $80,000 $80,000 $0 $418,024All-CG 87,437 57,029 75,000 75,000 75,000 66,415 435,881 Total $134,816 $169,774 $155,000 $155,000 $155,000 $66,415 $853,905

StatusAwarded - Greenlit $176,930 $103,134 $5,726 $0Not Awarded - Not Greenlit (7,156) 51,866 149,274 155,000 Total $169,774 $155,000 $155,000 $155,000

Not Awarded % -4.2% 33.5% 96.3% 100.0%

IMAGEWORKSMRP REVENUE ANALYSIS BY PROJECT

FY12 Q2 FORECAST & MRP($ In Thousands)

Project

30

SONY PICTURES ANIMATIONSUMMARY OF EBIT BY TITLE

FISCAL YEAR 2012 Q2 FORECAST & MRP

(In thousands)

FY15

Title Release DateQ2

FORECAST 10-11 MRP 10-10 MRP VAR TO MRP 10-11 MRP 10-10 MRP VAR TO MRP 10-11 MRP

Open Season September 29, 2006 348$ (24)$ 664$ (688)$ 530$ 976$ (446)$ 595$ Surf's Up June 8, 2007 (404) 40 (143) 183 17 (228) 245 91 Open Season 2 DTV January 2009 902 464 340 124 228 380 (152) 77 Cloudy with a Chance of Meatballs September 18, 2009 5,980 1,913 1,408 505 383 299 84 409 Open Season 3 DTV January 2011 2,890 345 561 (216) (88) 137 (225) (47) Smurfs Hybrid (FY12) July 29, 2011 14,415 17,676 29,205 (11,529) 16,228 18,390 (2,162) 2,300 Arthur Christmas (FY12) November 23, 2011 (41,647) 36,198 41,272 (5,074) 29,964 18,768 11,196 9,581 Pirates (FY12) March 30, 2012 (56,830) 44,873 24,139 20,734 6,988 8,956 (1,968) 11,291 DTV Easter 2012 (FY13) April 3, 2012 - - 6,557 (6,557) - 667 (667) - TBD Hybrid (FY13) August 2012 - - (7,138) 7,138 - 29,013 (29,013) - DTV Easter 2013 (FY13) March 26, 2013 - - 2,267 (2,267) - 2,904 (2,904) - Hotel Transylvania (FY13) September 21, 2012 (5,160) (6,180) 26 (6,206) 30,890 27,095 3,795 15,901 Smurfs 2 (FY14) August 2013 - (7,014) (8,000) 986 (4,537) (1,579) (2,958) 33,523

Cloudy 2 (FY14) September 2013 - (2,500) (6,000) 3,500 (7,931) (2,300) (5,631) 39,533 TBD Hybrid (FY15) August 2014 - - - - (4,000) - (4,000) 2,013 TBD Animated (FY15) September 2014 - - - - (5,000) - (5,000) 12,887 Development Reserve (8,417) (9,700) (9,700) - (9,700) (9,700) - (9,700) Film Reserve - - - - - - - (15,000) Non-Title marketing CHALLENGE - - - - - - - - Non-Title IHE - - - - - - - - Overhead (3,777) (2,587) (2,458) (129) (2,615) (2,578) (37) (2,674) Other marketing - (504) - (504) (157) - (157) (11,980) Earnings Before Interest & Taxes (91,700)$ 73,000$ 73,000$ -$ 51,200$ 91,200$ (40,000)$ 88,800$

FY12 FY13 FY14

31

SMURFS( PG Rating, Winchester Financing, 7/29/11 Release Date)

2Q FCST CURRENT FY12 BUD GP BREAK

RETENTION RATE 53% 53% 53% 53%

DOMESTIC BOX OFFICE $140,000 $140,000 $125,000 $99,900

INTERNATIONAL BOX OFFICE 325,000 360,000 189,000 155,000

WORLDWIDE BOX OFFICE 465,000 500,000 314,000 254,900

INTERNATIONAL PRINTS 9,440 9,690 8,400 8,040

DVD UNITS 7,800 7,800 6,670 5,080

DOMESTIC RENTALS 74,200 74,200 66,250 52,950

TOTAL DOMESTIC ADVERTISING (54,500) (54,500) (54,500) (54,500)

DOMESTIC PRINTS (6,280) (6,280) (8,180) (6,280)

OTHER COSTS (6,590) (6,590) (6,630) (4,840)

DOMESTIC THEATRICAL NET 6,830 6,830 (3,060) (12,670)

INT'L RENTALS 123,000 140,000 79,620 64,970

INT'L ADVERTISING (43,200) (43,200) (41,200) (37,870)

INT'L PRINTS (17,000) (16,000) (16,000) (14,880)

OTHER COSTS (8,680) (6,750) (7,610) (5,580)

INT'L THEATRICAL NET 54,120 74,050 14,810 6,640

DOM. HOME VIDEO REVENUE 96,450 96,450 85,860 65,630

DOMESTIC PAY-PER-VIEW / VOD 5,480 5,480 3,300 4,930

DOM. HOME VIDEO COSTS (34,830) (34,830) (28,110) (23,400)

DOMESTIC HOME VIDEO NET 67,100 67,100 61,050 47,160

INT'L HOME VIDEO REVENUE 46,850 46,840 51,750 42,970

INTERNATIONAL PAY-PER-VIEW/VOD 2,400 2,400 2,400

INT'L HOME VIDEO COSTS (17,450) (17,440) (18,950) (15,990)

INT'L HOME VIDEO NET 31,800 31,800 32,800 29,380

DOMESTIC PAY TELEVISION 17,650 17,650 17,650 17,120

DOMESTIC FREE TELEVISION 6,710 6,710 6,590 6,030

INTERNATIONAL TELEVISION 50,840 54,100 60,410 47,860

TV COSTS (500) (500) (500) (500)

TOTAL TELEVISION NET 74,700 77,960 84,150 70,510

AIRLINE / NON-THEATRICAL 2,840 2,840 2,330 2,020

MERCH, MUSIC & OTHER REVENUE 5,250 5,250 4,500 3,500

NON THEATRICAL COSTS (1,720) (1,720) (178) (178)

CONSUMER PRODUCTS COSTS (1,040) (1,040) (1,842) (1,842)

PRODUCTION COST (123,860) (123,860) (123,860) (123,860)

CO-FINANCING PROCEEDS 30,970 30,970 30,970 30,970

CAPITALIZED OH (9,790) (9,790) (9,790) (9,790)

RESIDUALS (10,700) (10,990) (10,980) (9,430)

CREATIVE SHARES (29,990) (37,810) (11,410) (7,960)

CO-FINANCIER OVERAGES (39,580) (42,890) (33,730) (24,450)

TOTAL REVENUES 431,670 451,920 378,260 310,380

RELEASING COSTS (191,790) (188,850) (183,700) (165,860)

PROD, O/H, PART, RESIDUALS (182,950) (194,370) (158,800) (144,520)

GROSS PROFIT (LOSS) $56,930 $68,700 $35,760 $0

GROSS PROFIT MARGIN 13.2% 15.2% 9.5% 0.0%

FY 2012 GROSS PROFIT (LOSS) 14,415 24,930 (15,927) (37,825)

32

ARTHUR CHRISTMAS (3D)(WW Rights, PG Rating, 11/23/11 rel. date)

Q1 FCST FY12 BUD GP BREAK

RETENTION RATE 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52%

DOMESTIC BOX OFFICE $125,000 $95,000 $100,000 $115,000 $120,000 $125,000 $130,000 $140,000 $155,000 $175,000 $275,000 $300,000 $125,000 $99,200

INTERNATIONAL BOX OFFICE 162,000 123,000 130,000 149,000 155,000 162,000 168,000 181,000 201,000 227,000 356,000 389,000 162,000 129,000

WORLDWIDE BOX OFFICE 287,000 218,000 230,000 264,000 275,000 287,000 298,000 321,000 356,000 402,000 631,000 689,000 287,000 228,200

INTERNATIONAL PRINTS 7,500 7,000 7,090 7,330 7,420 7,500 7,560 7,760 7,920 8,170 9,160 9,340 7,500 7,090

DVD UNITS 8,270 5,310 5,540 6,280 6,500 6,660 6,810 7,140 7,630 8,240 10,290 10,720 8,180 5,480

DOMESTIC RENTALS 65,000 49,400 52,000 59,800 62,400 65,000 67,600 72,800 80,600 91,000 143,000 156,000 65,000 51,580

TOTAL DOMESTIC ADVERTISING (61,300) (59,300) (59,430) (60,550) (60,930) (61,300) (62,130) (63,780) (66,250) (69,550) (71,300) (71,300) (54,000) (59,370)

DOMESTIC PRINTS (7,070) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (7,070) (6,910)

OTHER COSTS (6,940) (4,980) (5,210) (5,910) (6,150) (6,380) (6,610) (7,080) (7,770) (8,710) (13,370) (14,530) (7,260) (5,180)

DOMESTIC THEATRICAL NET (10,310) (21,790) (19,550) (13,570) (11,590) (9,590) (8,050) (4,970) (330) 5,830 51,420 63,260 (3,330) (19,880)

INT'L RENTALS 68,000 51,700 54,400 62,600 65,300 68,000 70,700 76,200 84,300 95,200 149,600 163,200 68,000 54,000

INT'L ADVERTISING (30,600) (27,500) (28,080) (29,550) (30,080) (30,600) (30,930) (31,900) (33,110) (34,610) (39,140) (39,900) (30,600) (28,080)

INT'L PRINTS (12,750) (12,110) (12,220) (12,530) (12,640) (12,750) (12,820) (13,080) (13,290) (13,610) (14,880) (15,110) (12,750) (12,220)

OTHER COSTS (7,910) (6,030) (6,320) (7,160) (7,430) (7,720) (7,990) (8,560) (9,410) (10,530) (16,120) (17,530) (7,910) (6,270)

INT'L THEATRICAL NET 16,740 6,060 7,780 13,360 15,150 16,930 18,960 22,660 28,490 36,450 79,460 90,660 16,740 7,430

DOM. HOME VIDEO REVENUE 82,680 67,270 70,000 78,870 81,280 83,150 84,980 88,910 94,710 101,990 126,040 131,050 81,750 68,870

DOMESTIC PAY-PER-VIEW/VOD 3,300 3,030 3,080 3,220 3,260 3,300 3,340 3,410 3,510 3,630 4,080 4,160 3,300 3,070

DOM. HOME VIDEO COSTS (27,090) (21,770) (22,700) (25,780) (26,620) (27,240) (27,840) (29,130) (31,030) (33,420) (41,300) (42,950) (26,780) (22,470)

DOMESTIC HOME VIDEO NET 58,890 48,530 50,380 56,310 57,920 59,210 60,480 63,190 67,190 72,200 88,820 92,260 58,270 49,470

INT'L HOME VIDEO REVENUE 48,830 37,370 38,690 43,250 44,540 45,830 47,760 50,320 54,790 60,510 89,170 95,510 48,830 38,690

INT'L PAY-PER-VIEW/VOD 2,780 2,860 3,050 3,130 3,200 3,250 3,440 3,640 3,910 4,120 4,120 2,860

INT'L HOME VIDEO COSTS (17,790) (13,590) (14,080) (15,750) (16,220) (16,700) (17,410) (18,350) (20,010) (22,130) (32,810) (35,180) (17,790) (14,080)

INT'L HOME VIDEO NET 31,040 26,560 27,470 30,550 31,450 32,330 33,600 35,410 38,420 42,290 60,480 64,450 31,040 27,470

DOMESTIC PAY TELEVISION 17,650 14,340 14,810 15,440 15,440 15,440 15,440 15,440 15,440 15,440 15,440 15,440 17,650 14,730

DOMESTIC FREE TELEVISION 6,570 5,900 6,030 6,450 6,520 6,570 6,610 6,710 6,940 7,300 8,640 8,640 6,540 5,990

INTERNATIONAL TELEVISION 42,460 31,320 36,070 37,660 39,010 39,370 39,370 39,370 44,600 45,660 55,440 59,260 41,630 35,410

TV COSTS (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500)

TOTAL TELEVISION NET 66,180 51,060 56,410 59,050 60,470 60,880 60,920 61,020 66,480 67,900 79,020 82,840 65,320 55,630

AIRLINE / NON-THEATRICAL 2,330 1,920 2,030 2,330 2,430 2,530 2,640 2,840 3,140 3,540 4,260 4,330 2,330 2,010

MERCH, MUSIC & OTHER REVENUE 2,400 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 2,400 1,900

NON THEATRICAL COSTS (10) 0 0 0 0 0 0 0 0 0 0 0 (10) 0

CONSUMER PRODUCTS COSTS (500) 0 0 0 0 0 0 0 0 0 0 0 (500) 0

PRODUCTION COST (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000) (99,000)

CAPITALIZED OH (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180) (12,180)

RESIDUALS (3,930) (3,190) (3,430) (3,680) (3,770) (3,830) (3,870) (3,960) (4,270) (4,480) (5,470) (5,740) (3,890) (3,390)

CREATIVE SHARES (13,330) (8,830) (10,060) (11,470) (11,960) (13,130) (13,540) (14,340) (16,790) (19,480) (40,860) (49,180) (13,270) (9,460)

TOTAL REVENUES $339,220 $266,930 $281,870 $314,570 $325,210 $334,290 $343,590 $361,340 $393,570 $430,080 $601,690 $643,610 $337,430 $279,110

RELEASING COSTS (172,460) (152,690) (155,450) (164,640) (167,480) (170,100) (173,140) (179,290) (188,280) (199,970) (236,330) (243,910) (165,170) (155,080)

PROD, O/H, PART, RESIDUALS (128,440) (123,200) (124,670) (126,330) (126,910) (128,140) (128,590) (129,480) (132,240) (135,140) (157,510) (166,100) (128,340) (124,030)

GROSS PROFIT (LOSS) $38,320 ($8,960) $1,750 $23,600 $30,820 $36,050 $41,860 $52,570 $73,050 $94,970 $207,850 $233,600 $43,920 $0

GROSS PROFIT MARGIN 11.3% NA 0.6% 7.5% 9.5% 10.8% 12.2% 14.5% 18.6% 22.1% 34.5% 36.3% 11.3% 0.0%

33

THE PIRATES (3D)(WW Rights, PG Rating, 3/30/12 rel. date)

Q1 FCST FY12 BUD GP BREAK

RETENTION RATE 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

DOMESTIC BOX OFFICE $65,000 $40,000 $45,000 $50,000 $55,000 $60,000 $65,000 $70,000 $80,000 $90,000 $100,000 $110,000 $65,000 $59,700

INTERNATIONAL BOX OFFICE 140,000 70,000 79,000 88,000 97,000 105,000 114,000 123,000 141,000 158,000 176,000 193,000 140,000 105,000

WORLDWIDE BOX OFFICE 205,000 110,000 124,000 138,000 152,000 165,000 179,000 193,000 221,000 248,000 276,000 303,000 205,000 164,700

INTERNATIONAL PRINTS 6,260 4,440 4,570 4,660 4,780 4,890 5,000 5,080 5,290 5,460 5,640 5,800 6,260 4,890

DVD UNITS 4,760 2,720 2,930 3,150 3,420 3,640 3,860 4,080 4,580 5,040 5,550 6,070 4,760 3,640

DOMESTIC RENTALS 32,500 20,000 22,500 25,000 27,500 30,000 32,500 35,000 40,000 45,000 50,000 55,000 32,500 29,850

TOTAL DOMESTIC ADVERTISING (47,000) (45,130) (45,500) (45,880) (46,250) (46,630) (47,000) (47,830) (49,480) (51,130) (52,530) (52,680) (47,000) (46,600)

DOMESTIC PRINTS (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700) (6,700)

OTHER COSTS (4,300) (2,560) (2,810) (3,060) (3,310) (3,560) (3,810) (4,060) (4,560) (5,060) (5,560) (6,070) (4,300) (3,550)

DOMESTIC THEATRICAL NET (25,500) (34,390) (32,510) (30,640) (28,760) (26,890) (25,010) (23,590) (20,740) (17,890) (14,790) (10,450) (25,500) (27,000)

INT'L RENTALS 58,800 29,500 33,200 36,900 40,600 44,300 48,000 51,700 59,100 66,400 73,800 81,200 58,800 44,100

INT'L ADVERTISING (33,800) (24,520) (25,490) (26,110) (26,950) (27,990) (29,000) (29,740) (31,630) (33,190) (34,650) (36,210) (33,800) (27,990)

INT'L PRINTS (13,170) (8,110) (8,260) (8,360) (8,500) (8,620) (8,750) (8,840) (9,070) (9,260) (9,470) (9,650) (13,170) (8,620)

OTHER COSTS (5,470) (2,670) (2,960) (3,250) (3,540) (3,810) (4,100) (4,390) (4,970) (5,530) (6,110) (6,670) (5,470) (3,800)

INT'L THEATRICAL NET 6,360 (5,800) (3,510) (820) 1,610 3,880 6,150 8,730 13,430 18,420 23,570 28,670 6,360 3,690

DOM. HOME VIDEO REVENUE 49,090 35,540 38,300 41,040 44,460 47,020 49,740 52,440 58,570 64,050 70,240 76,440 49,090 46,840

DOMESTIC PAY-PER-VIEW/VOD 2,600 2,180 2,290 2,390 2,490 2,580 2,650 2,730 2,860 2,980 3,080 3,180 2,600 2,560

DOM. HOME VIDEO COSTS (15,620) (11,130) (12,020) (12,920) (14,040) (14,920) (15,820) (16,730) (18,790) (20,650) (22,770) (24,910) (15,620) (14,920)

DOMESTIC HOME VIDEO NET 36,070 26,590 28,570 30,510 32,910 34,680 36,570 38,440 42,640 46,380 50,550 54,710 36,070 34,480

INT'L HOME VIDEO REVENUE 42,520 27,010 29,300 31,570 34,550 36,770 38,970 41,150 45,470 49,750 53,990 58,910 42,520 36,770

INT'L PAY-PER-VIEW/VOD 1,960 2,060 2,130 2,220 2,310 2,400 2,460 2,640 2,790 2,980 3,160 2,310

INT'L HOME VIDEO COSTS (15,470) (9,840) (10,660) (11,480) (12,560) (13,370) (14,170) (14,970) (16,550) (18,120) (19,690) (21,510) (15,470) (13,370)

INT'L HOME VIDEO NET 27,050 19,130 20,700 22,220 24,210 25,710 27,200 28,640 31,560 34,420 37,280 40,560 27,050 25,710

DOMESTIC PAY TELEVISION 11,270 8,320 8,910 9,500 10,090 10,680 11,270 11,770 12,660 13,560 14,450 15,340 11,270 10,650

DOMESTIC FREE TELEVISION 4,590 2,940 3,280 3,630 4,060 4,370 4,590 4,810 5,290 5,700 5,990 6,290 4,590 4,370

INTERNATIONAL TELEVISION 34,100 22,690 23,490 26,840 28,520 28,890 31,250 31,250 32,740 33,530 38,510 38,510 34,100 28,890

TV COSTS (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500)

TOTAL TELEVISION NET 49,460 33,450 35,180 39,470 42,170 43,440 46,610 47,330 50,190 52,290 58,450 59,640 49,460 43,410

AIRLINE / NON-THEATRICAL 1,210 810 910 1,020 1,110 1,220 1,320 1,420 1,620 1,830 2,030 2,230 1,210 1,200

MERCH, MUSIC & OTHER REVENUE 500 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 1,900 500 1,900

CONSUMER PRODUCTS COSTS (350) 0 0 0 0 0 0 0 0 0 0 0 (350) 0

PRODUCTION COST (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000) (65,000)

CAPITALIZED OH (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200) (5,200)

RESIDUALS (7,890) (5,600) (5,940) (6,530) (7,010) (7,290) (7,770) (7,990) (8,610) (9,130) (10,080) (10,550) (7,890) (7,280)

CREATIVE SHARES (7,190) (3,430) (4,010) (4,740) (5,390) (5,940) (6,590) (7,110) (8,230) (9,280) (11,080) (12,140) (7,190) (5,910)

TOTAL REVENUES $237,180 $152,850 $166,140 $181,920 $197,500 $210,040 $224,590 $236,630 $262,850 $287,490 $316,970 $342,160 $237,180 $209,440

RELEASING COSTS (142,380) (111,160) (114,900) (118,260) (122,350) (126,100) (129,850) (133,760) (142,250) (150,140) (157,980) (164,900) (142,380) (126,050)

PROD, O/H, PART, RESIDUALS (85,280) (79,230) (80,150) (81,470) (82,600) (83,430) (84,560) (85,300) (87,040) (88,610) (91,360) (92,890) (85,280) (83,390)

GROSS PROFIT (LOSS) $9,520 ($37,540) ($28,910) ($17,810) ($7,450) $510 $10,180 $17,570 $33,560 $48,740 $67,630 $84,370 $9,520 $0

GROSS PROFIT MARGIN 4.0% NA NA NA NA 0.2% 4.5% 7.4% 12.8% 17.0% 21.3% 24.7% 4.0% 0.0%

34

HOTEL TRANSYLVANIA(WW Rights, PG Rating, Q3 2013 rel. date)

GP BREAK

RETENTION RATE 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

DOMESTIC BOX OFFICE $60,000 $70,000 $80,000 $90,000 $100,000 $110,000 $120,000 $130,000 $140,000 $150,000 $94,600

INTERNATIONAL BOX OFFICE 60,000 70,000 80,000 90,000 100,000 110,000 120,000 130,000 140,000 150,000 95,000

WORLDWIDE BOX OFFICE 120,000 140,000 160,000 180,000 200,000 220,000 240,000 260,000 280,000 300,000 189,600

INTERNATIONAL PRINTS 6,250 6,430 6,610 6,780 6,990 7,150 7,300 7,450 7,600 7,740 6,860

DVD UNITS 4,080 4,580 5,150 5,660 6,230 6,820 7,310 7,710 8,040 8,420 5,910

DOMESTIC RENTALS 30,000 35,000 40,000 45,000 50,000 55,000 60,000 65,000 70,000 75,000 47,300

TOTAL DOMESTIC ADVERTISING (45,000) (45,000) (45,000) (45,000) (45,500) (46,250) (47,000) (48,650) (50,300) (51,950) (45,100)

DOMESTIC PRINTS (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400)

OTHER COSTS (3,390) (3,860) (4,330) (4,810) (5,280) (5,750) (6,220) (6,700) (7,170) (7,640) (5,020)

DOMESTIC THEATRICAL NET (24,790) (20,260) (15,730) (11,210) (7,180) (3,400) 380 3,250 6,130 9,010 (9,220)

INT'L RENTALS 25,200 29,400 33,600 37,800 42,000 46,200 50,400 54,600 58,700 62,900 39,700

INT'L ADVERTISING (23,560) (24,600) (25,560) (26,440) (27,510) (28,520) (29,500) (30,450) (31,370) (32,270) (26,860)

INT'L PRINTS (12,440) (12,710) (12,970) (13,230) (13,540) (13,780) (14,000) (14,220) (14,450) (14,650) (13,350)

OTHER COSTS (3,670) (4,150) (4,630) (5,110) (5,600) (6,080) (6,560) (7,040) (7,520) (8,000) (5,340)

INT'L THEATRICAL NET (14,470) (12,060) (9,560) (6,980) (4,650) (2,180) 340 2,890 5,360 7,980 (5,850)

DOM. HOME VIDEO REVENUE 52,800 58,890 65,760 71,920 78,870 85,840 91,390 96,180 100,180 104,640 76,610

DOMESTIC PAY-PER-VIEW/VOD 3,900 4,140 4,360 4,540 4,710 4,880 5,000 5,140 5,250 5,370 4,620

DOM. HOME VIDEO COSTS (16,760) (18,780) (21,090) (23,180) (25,560) (27,970) (29,940) (31,510) (32,820) (34,280) (24,230)

DOMESTIC HOME VIDEO NET 39,940 44,250 49,030 53,280 58,020 62,750 66,450 69,810 72,610 75,730 57,000

INT'L HOME VIDEO REVENUE 24,480 26,840 29,970 32,310 35,400 37,720 40,790 43,080 46,130 48,420 33,860

INT'L PAY-PER-VIEW/VOD 1,840 1,940 2,030 2,130 2,240 2,320 2,400 2,480 2,560 2,600 2,170

INT'L HOME VIDEO COSTS (8,880) (9,780) (10,970) (11,860) (13,030) (13,920) (15,090) (15,960) (17,130) (18,000) (12,440)

INT'L HOME VIDEO NET 17,440 19,000 21,030 22,580 24,610 26,120 28,100 29,600 31,560 33,020 23,590

DOMESTIC PAY TELEVISION 10,680 11,770 12,660 13,560 14,450 15,340 15,440 15,440 15,440 15,440 13,970

DOMESTIC FREE TELEVISION 4,370 4,810 5,290 5,700 5,990 6,290 6,500 6,600 6,690 6,810 5,830

INTERNATIONAL TELEVISION 24,130 24,930 27,690 29,160 34,170 34,520 37,010 38,640 39,410 43,350 29,540

TV COSTS (500) (500) (500) (500) (500) (500) (500) (500) (500) (500) (500)

TOTAL TELEVISION NET 38,680 41,010 45,140 47,920 54,110 55,650 58,450 60,180 61,040 65,100 48,840

AIRLINE / NON-THEATRICAL 1,220 1,420 1,620 1,830 2,030 2,230 2,430 2,640 2,840 3,040 1,920

MERCH, MUSIC & OTHER REVENUE 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500

PRODUCTION COST (104,000) (104,000) (104,000) (104,000) (104,000) (104,000) (104,000) (104,000) (104,000) (104,000) (104,000)

CAPITALIZED OH (12,580) (12,580) (12,580) (12,580) (12,580) (12,580) (12,580) (12,580) (12,580) (12,580) (12,580)

RESIDUALS (2,440) (2,630) (2,900) (3,100) (3,440) (3,610) (3,810) (3,950) (4,070) (4,290) (3,200)

CREATIVE SHARES 0 0 0 0 0 0 0 (680) (680) (2,160) 0

TOTAL REVENUES $182,120 $202,640 $226,480 $247,450 $273,360 $293,840 $314,860 $333,300 $350,700 $371,070 $259,020

RELEASING COSTS (120,600) (125,780) (131,450) (136,530) (142,920) (149,170) (155,210) (161,430) (167,660) (173,690) (139,240)

PROD, O/H, PART, RESIDUALS (119,020) (119,210) (119,480) (119,680) (120,020) (120,190) (120,390) (121,210) (121,330) (123,030) (119,780)

GROSS PROFIT (LOSS) ($57,500) ($42,350) ($24,450) ($8,760) $10,420 $24,480 $39,260 $50,660 $61,710 $74,350 $0

GROSS PROFIT MARGIN NA NA NA NA 3.8% 8.3% 12.5% 15.2% 17.6% 20.0% 0.0%

35

SMURFS 2 (3D)(WW Rights, PG Rating, Q3 2013 rel. date)

GP BREAK

RETENTION RATE 53% 53% 53% 53% 53% 53% 53% 53% 53% 53% 53%







DOMESTIC PRINTS (6,090) (6,090) (6,090) (6,090) (6,090) (6,090) (6,090) (6,090) (6,090) (6,090) (6,090)

OTHER COSTS (4,770) (5,240) (5,720) (6,180) (6,410) (6,650) (7,110) (7,590) (8,060) (8,760) (5,340)

DOMESTIC THEATRICAL NET (15,660) (10,960) (6,890) (2,800) (750) 830 4,020 7,190 11,870 18,900 (10,050)

INT'L RENTALS 98,300 109,200 120,100 131,000 136,500 142,000 152,900 163,800 174,700 191,100 111,600


INT'L PRINTS (21,840) (22,280) (22,690) (22,950) (23,080) (23,210) (23,430) (23,660) (23,910) (23,980) (22,350)

OTHER COSTS (7,440) (8,220) (9,000) (9,770) (10,160) (10,550) (11,330) (12,100) (12,870) (14,030) (8,400)

INT'L THEATRICAL NET 11,550 19,300 27,140 35,310 39,510 43,710 52,050 60,910 70,290 84,460 21,110












TV COSTS (760) (820) (870) (930) (960) (980) (1,040) (1,100) (1,150) (1,240) (830)




PRODUCTION COST (122,000) (122,000) (122,000) (122,000) (122,000) (122,000) (122,000) (122,000) (122,000) (122,000) (122,000)

CAPITALIZED OH (12,200) (12,200) (12,200) (12,200) (12,200) (12,200) (12,200) (12,200) (12,200) (12,200) (12,200)

RESIDUALS (7,500) (8,280) (8,660) (8,870) (9,090) (9,320) (9,600) (10,060) (10,470) (11,150) (8,380)

CREATIVE SHARES (8,390) (9,540) (11,160) (12,930) (14,450) (16,260) (23,820) (33,320) (41,090) (51,260) (9,410)

TOTAL REVENUES $305,500 $334,370 $359,730 $382,420 $394,940 $407,560 $431,060 $456,600 $481,130 $518,880 $339,390

RELEASING COSTS (181,020) (186,200) (192,240) (197,780) (200,390) (203,460) (209,720) (215,480) (219,030) (224,530) (187,400)


GROSS PROFIT (LOSS) ($25,610) ($3,850) $13,470 $28,640 $36,810 $44,320 $53,720 $63,540 $76,340 $97,740 $0

GROSS PROFIT MARGIN NA NA 3.7% 7.5% 9.3% 10.9% 12.5% 13.9% 15.9% 18.8% 0.0%

36

CLOUDY WITH A CHANCE FOR MEATBALLS 2 (3D)(WW Rights, PG Rating, Sept 2013 rel. date)

GP BREAK

RETENTION RATE 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52%







DOMESTIC PRINTS (5,670) (5,670) (5,670) (5,670) (5,670) (5,670) (5,670) (5,670) (5,670) (5,670) (5,670)

OTHER COSTS (4,030) (4,530) (5,030) (5,530) (6,020) (6,530) (6,770) (7,020) (7,520) (8,010) (4,100)

DOMESTIC THEATRICAL NET (18,300) (13,600) (8,900) (4,330) (370) 3,570 5,560 7,080 10,130 13,190 (17,690)

INT'L RENTALS 51,500 58,800 66,200 73,500 80,900 88,200 91,900 95,600 102,900 110,300 52,400


INT'L PRINTS (17,150) (17,470) (17,810) (18,130) (18,380) (18,640) (18,740) (18,880) (19,120) (19,420) (17,190)

OTHER COSTS (4,010) (4,520) (5,040) (5,550) (6,070) (6,580) (6,840) (7,100) (7,610) (8,130) (4,070)

INT'L THEATRICAL NET (8,830) (4,000) 800 5,840 11,140 15,790 18,430 20,790 25,890 31,110 (8,270)












TV COSTS (650) (700) (760) (820) (870) (930) (960) (980) (1,040) (1,100) (660)




PRODUCTION COST (85,000) (85,000) (85,000) (85,000) (85,000) (85,000) (85,000) (85,000) (85,000) (85,000) (85,000)

CAPITALIZED OH (8,500) (8,500) (8,500) (8,500) (8,500) (8,500) (8,500) (8,500) (8,500) (8,500) (8,500)

RESIDUALS (3,000) (3,340) (3,690) (4,040) (4,160) (4,380) (4,460) (4,560) (4,790) (5,070) (3,060)

CREATIVE SHARES 0 0 0 (100) (100) (100) (1,940) (1,940) (1,940) (4,140) 0

TOTAL REVENUES $237,930 $266,490 $295,680 $324,590 $344,140 $368,720 $380,630 $392,940 $418,150 $444,580 $241,840

RELEASING COSTS (144,410) (150,480) (156,850) (162,820) (166,650) (173,250) (176,470) (180,270) (187,550) (194,620) (145,280)


GROSS PROFIT (LOSS) ($2,980) $19,170 $41,640 $64,130 $79,730 $97,490 $104,260 $112,670 $130,370 $147,250 $0

GROSS PROFIT MARGIN NA 7.2% 14.1% 19.8% 23.2% 26.4% 27.4% 28.7% 31.2% 33.1% 0.0%

37

TBD HYBRID FY15 (3D)(WW Rights, PG Rating, Jul 2014 rel. date)

GP BREAK

RETENTION RATE 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52%







DOMESTIC PRINTS (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910) (6,910)

OTHER COSTS (3,980) (4,400) (4,820) (5,260) (5,470) (5,680) (5,900) (6,970) (8,040) (9,100) (4,670)

DOMESTIC THEATRICAL NET (21,790) (17,010) (12,360) (8,350) (6,330) (4,320) (2,310) 5,490 17,050 28,610 (14,000)

INT'L RENTALS 51,200 57,600 64,000 70,400 73,600 76,800 80,000 96,000 112,000 128,000 61,600


INT'L PRINTS (17,150) (17,430) (17,750) (18,020) (18,180) (18,320) (18,430) (19,000) (19,600) (20,090) (17,620)

OTHER COSTS (4,040) (4,490) (4,950) (5,420) (5,640) (5,870) (6,090) (7,240) (8,380) (9,510) (4,790)

INT'L THEATRICAL NET (6,580) (2,310) 1,760 6,170 8,390 10,640 12,760 23,280 34,620 46,280 300












TV COSTS (700) (760) (820) (870) (900) (930) (960) (1,100) (1,240) (1,380) (800)




PRODUCTION COST (105,000) (105,000) (105,000) (105,000) (105,000) (105,000) (105,000) (105,000) (105,000) (105,000) (105,000)

CAPITALIZED OH (10,500) (10,500) (10,500) (10,500) (10,500) (10,500) (10,500) (10,500) (10,500) (10,500) (10,500)

RESIDUALS (7,140) (7,800) (8,520) (9,170) (9,340) (9,430) (9,580) (10,670) (11,560) (12,530) (8,370)

CREATIVE SHARES 0 0 0 0 0 0 0 (16,720) (35,980) (55,640) 0

TOTAL REVENUES $238,830 $264,520 $290,090 $314,170 $324,440 $333,520 $342,950 $394,300 $442,790 $492,640 $280,560

RELEASING COSTS (148,180) (153,550) (158,850) (163,520) (166,140) (168,570) (170,950) (185,510) (195,370) (205,010) (156,690)




38

TBD ANIMATED FY 15 (3D)(WW Rights, PG Rating, Sept 2014 rel. date)

GP BREAK

RETENTION RATE 52% 52% 52% 52% 52% 52% 52% 52% 52% 52% 52%







DOMESTIC PRINTS (6,440) (6,440) (6,440) (6,440) (6,440) (6,440) (6,440) (6,440) (6,440) (6,440) (6,440)

OTHER COSTS (3,900) (4,380) (4,860) (5,340) (5,820) (6,300) (6,540) (6,770) (7,260) (7,730) (4,460)

DOMESTIC THEATRICAL NET (18,940) (14,220) (9,500) (4,910) (940) 3,030 5,020 6,560 9,620 12,700 (13,470)

INT'L RENTALS 36,800 42,000 47,300 52,500 57,800 63,000 65,600 68,300 73,500 78,800 42,800


INT'L PRINTS (14,950) (15,260) (15,510) (15,740) (15,960) (16,220) (16,310) (16,430) (16,680) (16,850) (15,260)

OTHER COSTS (2,950) (3,320) (3,690) (4,050) (4,430) (4,790) (4,970) (5,160) (5,530) (5,900) (3,370)

INT'L THEATRICAL NET (11,140) (7,960) (4,540) (1,150) 2,380 5,630 7,530 9,290 12,860 16,670 (7,210)












TV COSTS (650) (700) (760) (820) (870) (930) (960) (980) (1,040) (1,100) (710)




PRODUCTION COST (90,000) (90,000) (90,000) (90,000) (90,000) (90,000) (90,000) (90,000) (90,000) (90,000) (90,000)

CAPITALIZED OH (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000) (9,000)

RESIDUALS (2,740) (3,030) (3,250) (3,630) (3,840) (3,950) (4,190) (4,240) (4,370) (4,610) (3,050)

CREATIVE SHARES 0 0 0 (100) (100) (100) (1,940) (1,940) (1,940) (4,140) 0

TOTAL REVENUES $207,110 $233,590 $256,340 $283,580 $306,620 $326,160 $341,160 $350,560 $370,520 $393,880 $237,240

RELEASING COSTS (127,910) (134,420) (139,540) (144,670) (150,540) (156,540) (159,290) (162,550) (169,010) (175,410) (135,190)




Sony Pictures Digital Productions Mid-Range Plan September 8, 2011.

Documents

Transcript of Sony Pictures Digital Productions Mid-Range Plan September 8, 2011.