Disney Results Presentation Deck

ESPN Domestic ESPN International Star ESPN Domestic ESPN International Star $3.4 ⒸODisney $0.4 $0.9 Q4'22 Revenues ($0.0) Q4'22 $0.1 $3.5 $0.0 $0.4 Operating Income (Loss) (¹) $1.0 Q4'23 Q4 Sports Results (In Billions) ($0.0) Q4'23 $0.1 $0.0 ESPN Domestic • Results increased primarily due to lower programming and production costs, growth in subscription revenue at ESPN+ due to both pricing and subscriber growth, and lower marketing costs, partially offset by lower affiliate revenue. ● (1) Sports operating income also includes Equity in the Income of Investees of $15 million in Q4'22 and $16 million in Q4'23 ● The decrease in programming and production costs reflect the absence of the Big 10. • Lower affiliate revenue was due to fewer subscribers and the Charter blackout, partially offset by higher contractual rates. Advertising revenue increased by 1% vs. the prior year, despite the absence of the Big 10, the Charter blackout and a highly competitive marketplace. Fourth Fiscal Quarter Ended September 30, 2023 12

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