Trian Partners Activist Presentation Deck
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Disney Has Underperformed Under this Board's Watch
• While Bob Iger just "re-joined" the Board, he has essentially served on the Board since 2000 with
only a short respite from January - October 2022 (-10 months)
. There are still several current directors and members of management who oversaw and approved
some of Disney's worst corporate governance and strategic failures, including overpaying for the
Fox acquisition, the expanding streaming losses, and "over-the-top" compensation packages
granted to Bob Iger
Disney Director
Robert A. Iger(¹)
Susan E. Arnold
Maria Elena Lagomasino
Mark G. Parker
Mary Teresa Barra
Safra A. Catz
Francis A. de Souza
Michael B.G. Froman
Derica W. Rice
Amy L. Chang
Calvin R. McDonald
Carolyn N. Everson(2)
Tenure (Yrs)
~22
16
7
7
5
5
5
4
4
2
2
<1
Disney TSR
During Tenure
270%
225%
(12%)
2%
(2%)
(11%)
(11%)
(12%)
(15%)
(47%)
(47%)
(2%)
S&P 500 TSR
During Tenure
333%
263%
113%
130%
76%
52%
52%
47%
52%
(4%)
(4%)
(1%)
Difference
(63%)
(37%)
(124%)
(128%)
(79%)
(63%)
(63%)
(59%)
(67%)
(42%)
(42%)
(2%)
Source SEC fings FactSet as of 1/1023
Note: Board members shown represent Disney's cument Board composition as of December 2002: Total Shareholder Retum (TSR) defined as the total return an investor would receive if they purchased
one share of stock on the first day of the measured period, inclusive of share price appreciation and dividends paid (1) TSR Measured from January 2000, when Iger was named President and Chief
Operating Officer, as well as a member of Disney's Board of Directors (2) Joined Disney's Board effective November 2022
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