The Walt Disney Company 500 South Buena Vista Street Disney Ecosystem Burbank, CA 91521-0991 USA Phone: 855-553-4763 https://thewaltdisneycompany.com/ Outside Relationships (Delaware Corporation) Outside Relationships Regulators Suppliers The Walt Disney Company Customers Capital Capital Customers Suppliers Regulators Bond Debt Structure Debt ($47B @ 03/23/2020) Credit Ratings: Fitch (A-), Moody’s (A2) and S&P (A-) Equity Securities Regulation Public Debt Financing Equity and NYSE Listing Rules Common Stock Securities Holders 2025 2.00% Asia Park Loan ($96M) 2033-2035 3.48%, 3.72%, 3.74% Cruise Commercial Paper ($5.3B) (4.6 Billion Shares Authorized) Commercial 1-77 Years 1.65% - 9.50% 1-77 Years 2.48% Common Stock Regulators Ship Credit Facility ($1.0B, $1.1B, $1.1B) Commercial Loans Fixed Rate Notes ($37.0B) Floating Rate Notes ($2.4B) Structure Preferred Stock Repurchases 2036 8.00% Asia Park Loan ($1.0B) (Available from 2021-2023) (100 Million Shares Authorized) Banks Equity Significant US Capital Equity Securities Holders and Subjects of Exchange US Human Resources Finance and Accounting Legal Consumer Products, Gaming and Commissi The Regulation Governance Brand and Franchise Publishing on Professional Corporate Matters Human Resources Vanguard Management Real Estate Licensing Services Board of Directors Strategy Group Communications Product Creation (7.8%) NYSE of TV and Robert A. Iger (Chair) Francis A. deSouza Mark G. Parker Corporate Alliances Global Talent Transactions Global Radio Communications Strategy PwC LLP Bob Chapek Michael Froman Safra A. Catz Acquisition Corporate Real Estate Product Delivery Across Black- Select (Auditors) Retail Stores, Parks, E- Market Susan E. Arnold Maria Elena Lagomasino Derica W. Rice Media Relations Corporate Strategy Contract Management Rock TV and Leadership Development Commerce Fund Cravath, Radio Mary T. Barra Philanthropic Initiatives Enterprise Controllership Advisors Diversity and Inclusion Ownership Swaine & Corporate Governance (4.4%) Limits Moore Enterprise Social Product Licensing Professional Executive Leadership Environmental Initiatives Organizational Design and (Law) Responsibility SSgA Services Chairman & Board Chair – Sr. EVP & CFO – Cultural Development Secretarial Matters Robert A. Iger Christine M. McCarthy Funds Dual Covington Enterprise Technology Creative Manage- Networks CEO – Sr. EVP & Chief Commercial Employee Education and Games and Interactive & Burling Bob Chapek Officer – Zenia Mucha Development Financial Planning and IP Management Experiences ment (Antitrust) Strategy of Studio Analysis (4.2%) Regulation Co-Chairman – SEVP & Chief HR Officer – Entertainment Division Alan Bergman Jayne Parker Compensation and Benefits Subsidiary Management of Omnicom Global Product and Labor Worldwide Publishing State SVP, GC, Secretary – Broadcast (Ad Agency) President, ESPN & Co-Chair, HR Operations and Standards Farm Alan Braverman Media Networks – James Pitaro Production Programm Technology Litigation Management Invest- Publicis Co-Chairman & Chief Creative Chairman, Disney TV & Co-Chair, Investor Relations E Commerce Platforms ment ing Officer – Alan F. Horn Media Networks – Peter Rice (Ad Agency) Employee Relations Manage- Chair, Direct-to-Consumer & SVP and Treasurer – Marketing Risk Management Securities Compliance Cable and Inventory Management ment International – Rebecca Campbell Carlos A. Gomez Tax (4.2%) Satellite Global Security Systems Software, Chair, Disney Parks, Experiences EVP, Controllership, Financial Distribution Employment Law Institu- Carriage and Products – Josh D’Amaro Planning & Tax – Brent Woodford Treasury Hardware, of Business tional ERP/CRM Internal Broadcast Regulation Ownership: Licenses Tech TV 65.0%) and CRM Operations Providers Satellite Direct-to-Consumer & Media Television Media Networks Parks, Experiences and Products Studio Entertainment Network Extension 2019 Revenue = $24.8B (34.7%) 2019 Revenue = $11.1B (15.5%) International Platform TV/Cable and 2019 Revenue = $26.2B (36.7%) Licenses Network Localism DOMESTIC CABLE NETWORKS BROADCASTING EQUITY INVESTMENTS 2019 Revenue = $9.3B (13.0%) Providers Act Walt Disney World Disneyland Resort Aulani, a Disney Disneyland Paris Theatrical Market Home Television Market Disney Music Group ((a) Music Channels Direct-to-Consumer ESPN (80% Stake) Domestic Broadcast A&E Television Resort Resort & Spa The Walt Disney Entertainment Video-on-Demand Commissioned for Services Significant TV Network Networks (50%) Studios Market Cable and ESPN ACC Network Magic Kingdom Disneyland Oahu, Hawaii Disneyland Park (VOD) Motion Pictures and TV Broadcast Disney Disney+ Satellite ABC TV Network A&E Deals Walt Disney Programs and (b) Carriage ESPN 2 SEC Network Epcot Disney California 350 Hotel Rooms, Walt Disney’s Pictures Physical Formats Pay Television Licenses of Songs and of HISTORY Major Affiliation Adventure 480 Vacation Studios Park (DVD and Blu-ray) (Pay 1) Recording Copyrights ESPN ESPN+ Program- Disney’s Walt Disney League ESPNU ESPN Radio Agreements with Club Units Bought and Sold by to Third Parties for ming Lifetime and Lifetime Hollywood Studios Hotels and Other Animation Studios Retailers (Target Baseball 240 And Other Resort Free Television Print Music, Records, Fox Broadcasting Real Women Hotels, Vacation Facilities Hotstar Key Company Data ESPNEWS ESPN.com Local TV Stations Disney’s Animal and Walmart) Public Performances, National Deals Club Units Facilities Pixar (Free 1) Kingdom And Other Resort and Digital Distribution) National Basketball Lifetime Movie Hulu (67% Disney Recent Developments Financials (2019) Subjects of ESPN Classic ESPN App Geographic Association ABC App and Network (LMN) Facilities Marvel Studios Electronic Formats Pay Television 2 owned; Co, US and Purchase of 21st Cent. Fox Foreign Website Hotels, Vacation Sold Through (Pay 2) and 100% in 2024) Net Sales: $69.57B National Longhorn Network ESPN + 20th Century $2B in Cost Synergies Regulation FYI Club Properties Retailers (Apple Free Television 2 Star Football Studios Operating Income: ABC NewsApp And Other Resort and Amazon) (Free 2) Hulu Ownership to League Parks Online ESPN Deportes ESPYs, X Games, $14.87B Data Facilities Lucasfilm increase to 100% in 2024 Bowl Games and Website Viceland UTV (India) Protection Software from Comcast stake Licenses Pay Television 3 Long Term Debt: Globant Searchlight Pictures (Pay 3) and Hollywood Bindass (India) Q3 loss of $4.718B in $42.77B Media Network Free Television Records COVID-19 environment Disney (100+ TV Channels) Domestic TV CTV Specialty Hong Kong Shanghai Disney Tokyo Disney Disney Vacation 11% CAGR Operating Safety and Platform Disney+ (Free 2) TV/Cable Licenses Stations (8) Television (30%) Disneyland Resort Resort (43%) Resort Club Hungama (India) 28,000 employees laid off Income last 15 years Supply Network on September 29, 2020 Chain of Disney Channel Disney XD (47%) Tokyo Walt Disney Providers New York, NY The Sports Networks Sales of International Consumer Disneyland Disney Theatrical Group Records (TSN) Hong Kong Shanghai Ownership Market Resources Share Information Products Disney Junior DisneyNOW App (Develops, Produces and Licenses Live Los Angeles, CA Disneyland Disneyland Interests in Equity Investments Other and Theme Various Entertainment on Broadway and ~201,000 Employees NYSE Symbol: DIS Parks Le Réseau des Tokyo DisneySea Around World) Disney Concerts Endemol Shine Share Price: $123.31 Sports (RDS) Hotels Hotels and Other Disney Resorts Disney Digital 6 Different Continents Chicago, IL (Live Music Group (50%) (10/1/2020) Facilities Hotels and Other and Network (Content The Lion King The Little Mermaid Concert (To be sold in 2021 RDS2 Resort Facilities Other Properties Developed Operations in Dividend:Suspended Freeform Cable FX Productions) to Banijay Group) Environme Philadelphia, PA For YouTube) Online, Live and Physical Beauty and the Beast EPS: -$2.61 (7/27/20) ntal Channel (ages 18- RDS Info Aladdin Protection 34) Houston, TX Disney Cruise Line Adventures by Walt Disney National Seven TV (20%; 49% Disney Music ESPN Classic Disney Imagineering Frozen economic interest) Drivers (by Segment) Freeform App FX Geographic Hunchback of Notre Publishing Disney Movie Club Foreign Canada San Francisco, CA Disney Magic Master Planning Expeditions (73%) Dame Media Networks: Affiliate Fees (54%) Trade Guided Vacation Mary Poppins Restrictions Live Action FXM Tata Sky (30%) Discover Canada Tour Packages Branded Apps and Parks, Experiences, Products: Theme Park (29%) Programs Raleigh-Durham, NC Real Estate Disney Wonder for Websites Currency Development Newsies TARZAN Studio Entertainment: Theatrical Distribution (42%) FXX Animal Planet Non-Disney Vice (20%) (e.g. ESPN App) Exchange Video on Demand Fresno, CA Canada Entertainment and Direct-to-Consumer + International: Ads (38%) Control Disney Dream Sites Worldwide Disney On Ice Marvel Universe Live! Show Design Streaming Tax Laws Disney Fantasy National Geographic (73%) TV Production and Project Management Technology Software Services Development Software Domestic Distribution (BAMTech LLC) Services Developers and Intl. National Geographic Nat Geo Wild ABC Studios Consumer Products and Labor Laws Engineers Nat Geo Mundo Nat Geo Magazines TCFTV, Fox21 Licensing Retail Investment Obligations Jimmy Kimmel Live Club Membership Theme Parks and Tour Directing & Acting Disney Brand Theater Ticket Licenses to Re-Broadcast Post- Network TV Viewers and Network TV Viewers and Cable TV Subscriptions Sales of Cruise