[PROXY STATEMENT OF THE COMPANY [ ], 2015 Shareholders of Shanda Games Limited Dear Shareholder: You are cordially invited to attend an extraordinary general meeting of shareholders of Shanda Games Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands (the “Company”), to be held on [ ], 2015 at [ ] a.m. (Hong Kong] [April 2015 Project Shengxia CONFIDENTIAL Discussion Material Prepared for Meeting with the Special Committee of the Board of Directors of Shanda Games 1. Transaction Overview 1 2. Valuation Analysis 6 Table of Contents Meeting with the Special Committee of the Board of Directors of Shanda Games Project Shengxia 1. Transaction Overview Acquirer ; Consortium comprised of Yilida, Ningxia, Hongtai, Hongzhi] [September 2014 Project Donghai CONFIDENTIAL Discussion Material Prepared for Meeting with the Special Committee of the Board of Directors of Shanda Games 1. Transaction Overview 1 2. Valuation Analysis 5 Table of Contents Meeting with the Special Committee of the Board of Directors of Shanda Games Project Donghai 1. Transaction Overview Acquirer ; Consortium comprised of Shanda Interactive, Orient Finance,] []