The Olympus OM-D E-M1 was first supported in Camera Raw 8.2 which is only compatible with CS6, CC or CC 2014.
There is no plugin for CS5 which will recognize Raw files from the EM-1.
- Upgrade to CS6
- Buy Photoshop Elements 12
- Buy Lightroom 5
- Join the Cloud
- Join the Creative Cloud Photography Plan (PS + LR for $9.99/month)
- Free option: download the free DNG converter from Adobe, convert all Raw files from the E-M1 to DNGs then edit the DNGs in CS5.
Photoshop Help | Digital Negative (DNG)
Thank you. I may try converting to DNG just for fun but it looks like I am joining the creative cloud.
The E-M1 is new enough that you need the ACR 8.x series to work with its files, and only CS6 & CC have updates that new. So you can upgrade CS5 to CS6 or sign up for the Cloud PS, where the cheapest way is currently to get the Photographer’s Bundle that includes PS-CC + LR5 for $10/month (US). For just PS-CC, alone, or any other single cloud app, it’d be twice that, I think: $20/month (US).
To find PS-CS6 on Adobe’s website, you can go to http://www.adobe.com/ and search for Photoshop CS6 and click the Buy link in the live-results and that’ll go to a page with several versions of CS6 applications for sale. Anything else you search for is going to show Cloud only.
The Photographer’s Bundle cloud option is easier to find. One way is to go to http://creative.adobe.com/plans
Besides a payfor upgrade for your CS5, you can also download and install a version of the DNG Converter 8.3 or higher, which you can get from: http://www.adobe.com/downloads/updates
Before you purchase anything be sure to check the system requirements and run the software in trial mode to make sure it works with your computer and operating system, since there are new minimum OS requirements for the newer things.