Disney Results Presentation Deck

Total Hulu (¹) LiveTV + SVOD SVOD Only SVOD Only ARPU Live TV+SVOD ARPU Q2 Hulu and ESPN+ Subscribers & ARPU (Paid Subscribers in Millions and Average Monthly Revenue per Paid Subscriber (ARPU) in USD) ARPU hulu Subscribers 45.6 4.1 41.4 22.3 48.0 4.5 43.5 Q2'22 Q1'23 Q2'23 $12.46 $11.73 $12.77 $88.77 $87.90 $92.32 Q2'22 ESP+ Subscribers Q1'23 $5.53 Note: See DTC Product Descriptions and Key Definitions on page 17 (1) Total may not equal the sum due to rounding ⒸDisney $4.73 48.2 4.4 24.9 43.7 25.3 Q2'23 $5.64 Q2'23 vs. Q2'22 Q1'23 +2.6 +0.2 +0.3 (0.1) +2.3 +0.2 ($1.04) ($0.73) +$3.55 +$4.42 +3.0 +0.4 +$0.91 +$0.11 Hulu Total Hulu subscribers increased slightly vs. the prior quarter. Hulu SVOD Only ARPU decreased by $0.73 vs. the prior quarter due to lower per-subscriber advertising revenue and a higher mix of subscribers to multi-product offerings, partially offset by an increase in average retail pricing. Hulu Live TV+SVOD ARPU increased by $4.42 vs. the prior quarter primarily due to an increase in average retail pricing, partially offset by lower per-subscriber advertising revenue. ESPN+ Both subscribers and ARPU grew vs. the prior quarter. ESPN+ ARPU increased by $0.11 vs. the prior quarter driven by higher per-subscriber advertising revenue, partially offset by a higher mix of subscribers to multi-product offerings. Second Fiscal Quarter Ended April 1, 2023 8

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