Disney Results Presentation Deck

Linear Networks Direct-to-Consumer CSLO Linear Networks Direct-to-Consumer CSLO ⒸDisney $2.9 $4.5 $0.8 Q4'22 Revenues $1.9 ($1.4) Q4'22 Q4 Entertainment Results (In Billions) ($0.0) $2.6 $5.0 Operating Income (Loss) $0.8 Q4'23 $1.9 ($0.4) ($0.1) Q4'23 Linear Networks Operating income was flat to the prior year, reflecting lower advertising and affiliate revenues, which were generally offset by a decrease in marketing and programming and production costs. • Advertising revenue declines were driven by our domestic business, primarily at ABC and our owned TV stations. Direct-to-Consumer Revenues increased by 12% and operating loss improved by nearly $1 billion vs. the prior year driven by: Higher subscription revenue from increases in retail pricing and subscriber growth at both Disney+ Core and Hulu Lower marketing, technology and distribution costs • Partially offset by an increase in programming and production costs ● ● Content Sales / Licensing and Other (CSLO) Operating loss increased by ~$140 million vs. the prior year due to lower theatrical results, partially offset by higher home entertainment results. Fourth Fiscal Quarter Ended September 30, 2023 10

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