X0306 4/A 2014-06-23 2014-06-25 0001591517 Time Inc. TIME 0001606785 Pearlstine Norman C/O TIME INC. 1271 AVENUE OF THE AMERICAS NEW YORK NY 10020 1 EVP & Chief Content Officer Common Stock, par value $0.01 91 I By Spouse These shares were received by the reporting person's spouse as a distribution on Time Warner Inc. shares previously owned in connection with the legal and structural separation of Time Inc. and Time Warner Inc. and were inadvertently omitted from the original Form 4. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. /s/ Kevin Tang, Attorney-in-Fact for Norman Pearlstine 2015-02-04