The Walt Disney Company hosted a live webcast to discuss fiscal third quarter 2026 financial results beginning at 8:30 a.m. ET / 5:30 a.m. PT on Wednesday, August 5, 2026.

Forward-Looking Statements

Certain statements on this webcast may constitute “forward‐looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our expectations, beliefs, plans, financial prospects, outlook and guidance; financial or performance estimates and expectations (including estimated or expected revenues, earnings, operating income, returns, expenses, margins and cash flow) and expected drivers; future capital allocation, including investments, content spend, capital expenditures, dividends and share repurchases; the completion or benefits of, as applicable, new initiatives, agreements, future projects and technologies; plans, expectations, strategies and opportunities for the growth of, and future benefits of investments in, our products and services and expected drivers; anticipated demand for and timing, availability or nature of our products and services, including at our parks and experiences and streaming services, the content and functionality within our products and services and our content releases, including the applicable distribution channel; potential future efficiencies and cost reductions; estimates of the financial impact of certain items, accounting treatment, events or circumstances; and other statements that are not historical in nature. Any information that is not historical in nature is subject to change. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements.

Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives (including capital investments, asset acquisitions or dispositions, new or expanded business lines or cessation of certain operations), our execution of our business plans (including the content we create and IP we invest in, our pricing decisions, our cost structure and our management and other personnel decisions), our ability to quickly execute on cost rationalization while preserving revenue, the discovery of additional information or other business decisions, as well as from developments beyond the Company’s control, including:

• the occurrence of subsequent events;
• deterioration in domestic and global economic conditions or a failure of conditions to improve as anticipated;
• deterioration in or pressures from competitive conditions, including competition to create or acquire content, competition for talent and competition for advertising revenue;
• consumer preferences for and acceptance of our content offerings and the distribution channel (including pricing and bundling of our streaming services and impact on churn and subscriber additions) and our travel destinations;
• the market for advertising sales on our streaming services and linear networks;
• health concerns and their impact on our businesses and productions;
• international, including tariffs and other trade policies, political or military developments;
• regulatory and legal developments;
• technological developments;
• the continued availability of our licenses;
• labor markets and activities, including work stoppages;
• adverse weather conditions or natural disasters; and
• availability of content.

Such developments may further affect entertainment, travel and leisure businesses generally and may, among other things, affect (or further affect, as applicable):

• our operations, business plans or profitability;
• demand for our products and services;
• the performance of the Company’s content;
• our ability to create or obtain desirable content at or under the value we assign the content;
• the advertising market for programming;
• taxation; and
• performance of some or all Company businesses either directly or through their impact on those who distribute our products.

Additional factors are set forth in the Company’s most recent Annual Report on Form 10-K, including under the captions “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Business,” subsequent quarterly reports on Form 10-Q, including under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and subsequent filings with the Securities and Exchange Commission.

The terms “Company,” “Disney,” “we,” and “our” are used above and on this webcast to refer collectively to the parent company and the subsidiaries through which our various businesses are actually conducted.