Q2 Media & Entertainment Distribution Results

$19.2 $21.8 Q2'22 Q2'23 Revenues $1.1 Q2'22 Q2 Results for Fiscal 2023 (In Billions, Except Per Share Amounts) $2.1 $3.7 $3.3 $0.26 $0.69 Q2'23 Q2'22 Q2'23 Q2'22 Q2'23 Total Segment Operating Income (1) Diluted EPS from continuing operations (2) Income from Continuing Operations Before Income Taxes $1.08 Q2'22 $0.93 Q2'23 Diluted EPS excluding certain items (1) (1) Diluted EPS excluding certain items and total segment operating income are non-GAAP financial measures. The most comparable GAAP measures are diluted EPS from continuing operations and income from continuing operations before income taxes, respectively. See the discussion on pages 14-16 for how we define and calculate these measures and a reconciliation thereof to the most directly comparable GAAP measures. (2) Reflects amounts attributable to shareholders of The Walt Disney Company, i.e. after deduction of income attributable to noncontrolling interests. ©Disney Second Fiscal Quarter Ended April 1, 2023 3

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