Disney Shareholder Engagement Presentation Deck

Peltz has no track record in large cap media or tech, no solutions to offer for the evolving media landscape and if MSG Sports is his training ground, it has not been a good one ● MSG SPORTS TSR TRAILS MARKET¹ Peltz has been on the MSGS Board since October 2014 TSR lags the S&P and has not outperformed the S&P by 900bps annually as Peltz claims all his Boards have² 135% S&P 500 71% MSG ● Peltz wants to "adapt strategies to address changing industry dynamics" Yet he lacks a basic understanding of our industry by his own admission INVESTMENT THESIS² STREAMING STRATEGY² PARKS STRATEGY² WHAT TRIAN IS MISSING CNBC anchor: "Why Disney?" Peltz: "Why not?" CNBC anchor: Peltz: "Do you buy or sell Hulu?" "They have to buy Hulu or they have to get out of the streaming business" CNBC anchor: "You say they're overearning? What does that even mean?" Peltz: "I think the Parks, and I'm not an expert here, probably need a little more capex" Source: FactSet. 1 Reflects TSR of MSGN from 10/28/14 (when Peltz joined Board, based on announcement date) to 09/30/15 (spin-off of Sports and Entertainment business), and MSGS from 09/30/15 to 01/12/23; 2 CNBC interview, 01/12/23 12

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