Disney Investor Presentation Deck

Continued Execution of Long-Term Strategy Supported by Leadership of our CEO and Executive Chairman ■ Significant progress on long-term strategic plan achieved through recent management, organizational and strategic updates driven by Bob Chapek and supported by the oversight of Bob Iger and the Board Recent Management, Organizational and Strategic Updates May 2020: Named new chairs of Direct-to-Consumer and International and Parks, Experiences and Products, both reporting to Mr. Chapek; restructured leadership team at Parks, Experiences and Products October 2020: Reorganized media and entertainment businesses to align to Mr. Chapek's strategic goals of accelerating direct-to-consumer ("DTC") strategy and centralizing distribution and commercialization activities December 2020: Hosted 2020 Investor Day focused on the Company's DTC streaming services, with key developments including: o Updated subscriber guidance given Disney+ performance post-launch o Updates on DTC content, announcing a significant pipeline across numerous franchises resulting from close creative collaboration between Disney's content creators and Bob Iger o Company's new management team leading our DTC efforts Key Recent Accomplishments ✓ Launched DTC in several key markets and drove unprecedented subscriber growth in the first year Increased subscribers at ESPN+ and Hulu ✓ Released compelling original content for Disney+ ✓ Created content for traditional theatrical release and linear networks Throughout the year, Bob Chapek worked closely with each of our business leads to ensure strong execution of strategy across the Company. Bob Iger's direction of the Company's creative endeavors, which are the cornerstone of our strategy, has positioned Disney for long-term success and helped drive creation of shareholder value

View entire presentation