Disney Investor Presentation Deck

■ Highly Qualified Board of Directors Provides Strong Oversight ■ Our Directors bring a diverse range of knowledge, perspective and experience from renowned global organizations Robert A. Iger Chairman and Chief Executive Officer, The Walt Disney Company Safra A. Catz Appointed Audit Committee Chair in 2019 Chief Executive Officer, Oracle Corporation Maria Elena Lagomasino Appointed Compensation Committee Chair in 2019 Chief Executive Officer and Managing Partner, WE Family Offices Susan E. Arnold Independent Lead Director, Chair of Gov. and Nom. Committee Operating Executive, The Carlyle Group Francis A. de Souza President and Chief Executive Officer, Illumina, Inc. Mark G. Parker Executive Chairman, Nike, Inc. Priority Areas of Board Oversight Mary T. Barra Chairman and Chief Executive Officer, General Motors Michael B. G. Froman Vice Chairman and President, Strategic Growth, Mastercard, Inc. Derica W. Rice EVP, CVS Health; President, CVS Caremark 5 new directors since 2017 (shaded) 2 new committee chairs appointed in 2019 Strategic Transformation The Board played an integral role in overseeing the completion of the 21st Century Fox assets and realization of synergies Succession Planning Reserve time at each regularly scheduled Board meeting to discuss succession planning as appropriate without the CEO present Evaluation of potential internal candidates includes identifying the experience they should gain to develop the ability to succeed as eventual CEO Risk Management ▪ The Board assesses major risk factors relating to the Company and its performance, such as cybersecurity and data privacy, and reviews measures to mitigate identified risks Each of the Board's committees also addresses risks that fall within its areas of responsibility 67% ethnic / gender diversity

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