Disney Results Presentation Deck

Spend on Produced and Licensed Content Fiscal 2023 spend on produced and licensed content, including sports rights, was $27 billion, nearly $3 billion below the prior year as we significantly reduced our spend on entertainment content. ● Fiscal 2024 enterprise-wide content spend is expected to decrease by $2 billion vs. fiscal 2023, to approximately $25 billion, as a result of our continued work to be more efficient in our content spend, in addition to impacts from the strikes and the timing of sports payments. $29.9 ⒸDisney $17.6 FY19 $20.2 FY20 $25.3 Investing in Our Businesses (Full Year Values in Billions) FY21 FY22 $27.2 FY23 ~$25 FY24 Projection Capital Expenditures • Fiscal 2023 capital expenditures totaled $5 billion, roughly comparable to the prior year. Fiscal 2024 capital expenditures are projected to total $6 billion, an increase of approximately $1 billion vs. fiscal 2023, driven by higher spend at Experiences. • Capital expenditures at Experiences in fiscal 2024 will look more comparable to fiscal year 2019 and includes spend at our Cruise business ahead of the launch of three new ships in fiscal 2025 and 2026. All Other Experiences $4.9 $4.1 FY19 $4.0 $3.6 $2.3 FY21 $2.9 FY20 $4.9 $5.0 $3.4 $3.0 FY22 FY23 ~$6 FY24 Projection Fourth Fiscal Quarter Ended September 30, 2023

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