Q2 Media & Entertainment Distribution Results

Q2 Parks, Experiences & Products Results (In Billions) Revenues $5.6 +1.1/+17% Domestic Parks & $4.9 Experiences Int'l Parks & Experiences Consumer Products $1.2 $1.2 $1.0 $0.6 Q2'22 Q2'23 Operating Income Domestic Parks & Experiences $1.4 $1.5 +$0.4 / +23% Int'l Parks & $0.6 Experiences $0.5 $0.2 Consumer Products ($0.3) Q2'22 Q2'23 Note: Total may not equal the sum of the column due to rounding ©Disney Domestic Parks & Experiences Operating income increased 10% versus the prior year, driven primarily by the continued post-pandemic recovery of our cruise line, partially offset by a comparison to a real estate gain in the prior year. Domestic Parks growth in attendance and guest spending was more than offset by higher costs, reflecting cost pressures including wage increases, costs associated with new guest offerings and other inflationary cost impacts. International Parks & Experiences • Strong year-over-year operating income growth was driven by higher volumes and guest spending at Shanghai Disney Resort and Disneyland Paris, as well as a favorable comparison at Hong Kong Disneyland Resort due to a closure in the prior year. Consumer Products Decrease in operating income vs. the prior year included lower merchandise revenue on certain franchises. Second Fiscal Quarter Ended April 1, 2023 6

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