2023 Sustainability & Social Impact Report

2 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Forward-Looking Statements
Certain statements and information in this • the occurrence of subsequent events; Such developments may further affect entertainment,
communication may constitute “forward-looking • further deterioration in domestic and global travel, and leisure businesses generally and may, among
statements” within the meaning of the Private Securities economic conditions or failure of conditions other things, affect (or further affect, as applicable):
Litigation Reform Act of 1995, including statements to improve as anticipated; • our operations, business plans, or profitability;
regarding our plans; beliefs; expectations; continuation
• deterioration in or pressures from competitive • demand for our products and services;
or future execution of initiatives, programs, activities,
conditions, including competition to create or
policies, or disclosures; strategies; goals; objectives; • the performance of the company’s content;
acquire content, competition for talent, and
intentions; commitments; pledges; priorities; targets;
competition for advertising revenue; • our ability to create or obtain desirable content
and other statements that are not historical in nature.
at or under the value we assign the content;
Any information that is not historical in nature included • consumer preferences and acceptance of our
in this report is subject to change. These statements are content, offerings, pricing model, and price • the advertising market for programming;
made on the basis of management’s views and increases, and corresponding subscriber additions • construction;
assumptions regarding future events and business and churn, and the market for advertising sales on
• income tax expense;
performance as of the time the statements are made. our direct-to-consumer services and linear networks;
• expenses of providing medical and post-retirement
Management does not undertake any obligation to • health concerns and their impact on our businesses
benefits; and
update these statements. Actual results may differ and productions;
materially from those expressed or implied. Such • performance of some or all company businesses
• global economy-wide transitions and availability
differences may result from actions taken by the either directly or through their impact on those
of economically feasible solutions;
company, including restructuring or strategic initiatives who distribute our products.
(including capital investments, asset acquisitions or • international, political, or military developments;
• Additional factors are set forth in the company’s
dispositions, new or expanded business lines, or • regulatory and legal developments; Annual Report on Form 10-K for the year ended
cessation of certain operations), our execution of our • technological developments; September 30, 2023, including under the captions
business plans (including the content we create and IP “Risk Factors,” “Management’s Discussion and Analysis
• labor markets and activities, including work stoppages;
we invest in, our pricing decisions, our cost structure, of Financial Condition and Results of Operations,” and
and our management and other personnel decisions), • adverse weather conditions or natural disasters and “Business”; quarterly reports on Form 10-Q, including
our ability to quickly execute on cost rationalization environmental developments; and under the captions “Risk Factors” and “Management’s
while preserving revenue, the discovery of additional • availability of content. Discussion and Analysis of Financial Condition and
information or other business decisions, as well as from Results of Operations”; and subsequent filings with
developments beyond the company’s control, including: the Securities and Exchange Commission.
3 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Table of Contents

4 Introduction & 12 Operating Responsibly 22 Investing in Our People 29 Diversity, Equity & 40 Environmental 54 Social Impact
Our Approach 13 CORPORATE GOVERNANCE 23 OVERVIEW Inclusion Sustainability 55 OVERVIEW
5 LETTER FROM OUR CEO 13 ETHICS 24 SUPPORTING OUR EMPLOYEES 30 OVERVIEW 41 OVERVIEW 56 WISH GRANTING
6 HIGHLIGHTS FROM THE YEAR 14 RISK OVERSIGHT THROUGH CHANGE 31 PEOPLE 42 EMISSIONS 57 SPOTLIGHT: DISNEY AND MAKE-A-WISH
7 AWARDS & RECOGNITION 14 HUMAN RIGHTS 24 EMPLOYEE SAFETY, 33 CULTURE 46 WATER CELEBRATE WORLD WISH DAY
8 OUR BUSINESSES 15 SUPPLY CHAIN HEALTH & WELL-BEING 34 CONTENT 47 WASTE 58 CHILDREN’S HOSPITALS
9 STRATEGY & DISCLOSURE PRIORITIES 17 PRODUCT SAFETY 25 COMPREHENSIVE TOTAL REWARDS 37 SPOTLIGHT: MICKEY’S TOONTOWN 48 MATERIALS 60 DISNEY FUTURE STORYTELLERS
10 OVERSIGHT & ACCOUNTABILITY 18 GUEST SAFETY 26 SPOTLIGHT: INVESTING IN OUR AT DISNEYLAND RESORT 48 SUSTAINABLE DESIGN 61 SUPPORTING COMMUNITIES AROUND
11 STAKEHOLDER ENGAGEMENT & 19 INFORMATION SECURITY EMPLOYEES’ FUTURES REIMAGINED WITH ACCESSIBILITY 50 NATURE THE WORLD
PARTICIPATION 19 PRIVACY 27 EMPLOYEE ENGAGEMENT & IN MIND 53 SPOTLIGHT: DISNEY’S ANIMAL 62 VOLUNTEERING
19 DIGITAL WELLNESS & RECOGNITION 38 COMMUNITY KINGDOM CELEBRATES 25 YEARS OF
RESPONSIBLE CONTENT 28 TALENT DEVELOPMENT 39 TRANSPARENCY & ACCOUNTABILITY CONSERVATION AND INSPIRATION
20 RESPONSIBLE ADVERTISING &
MARKETING
21 JOURNALISTIC INTEGRITY 63 Data & Frameworks
21 ARTIFICIAL INTELLIGENCE 64 OVERVIEW
21 TAX STRATEGY 65 FISCAL 2023 DATA TABLE
73 SASB INDEX
78 TCFD INDEX
79 SDG INDICATORS

This report contains links to websites that are not operated by Disney. The website owner’s terms of use and privacy policy will apply. Unless otherwise specified, data and information in this
report pertain to efforts in fiscal 2023, which began on October 2, 2022, and ended on September 30, 2023. For the most part, data and information reflect business operations as of the
beginning of the fiscal year. The terms “company,” “we,” “Disney,” and “our” are used to refer collectively to the parent company and the subsidiaries through which business is conducted.
4 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Introduction &
Our Approach

In This Section

5 LETTER FROM OUR CEO

6 HIGHLIGHTS FROM THE YEAR
7 AWARDS & RECOGNITION
8 OUR BUSINESSES
9 STRATEGY & DISCLOSURE PRIORITIES
10 OVERSIGHT & ACCOUNTABILITY
11 STAKEHOLDER ENGAGEMENT &
PARTICIPATION

Mickey Mouse is ready to welcome

guests at Sleeping Beauty Castle
at Disneyland® Resort
 5 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

LETTER FROM OUR CEO HIGHLIGHTS FROM THE YEAR AWARDS & RECOGNITION OUR BUSINESSES STRATEGY & DISCLOSURE PRIORITIES OVERSIGHT & ACCOUNTABILITY STAKEHOLDER ENGAGEMENT & PARTICIPATION

LETTER FROM OUR CEO

For more than 100 years, Disney has been dedicated to futures. For example, our Disney Aspire program, which habitats, and natural resources. The park has inspired
operating with clarity of purpose and a deep sense of fully covers tuition costs for eligible hourly full-time countless guests to connect more deeply to the natural
integrity. That spirit helps inform the stories we tell, the and part-time employees looking to pursue higher world. To commemorate the anniversary, the Disney
experiences we provide, and the memories we create for education, celebrated its fifth anniversary. More than Conservation Fund announced 25 grants to conservation
fans and families around the world. And it forms the 15,000 Disney employees were enrolled as of the end organizations around the globe.
basis of the positive impact we strive to have in the of fiscal 2023, and the program continues to evolve to
In 2023, we commemorated our decades-long
communities in which we operate. meet the dynamic needs of our employee base and the
collaboration with Make-A-Wish®, granting our
ever-evolving job landscape. We’re also proud of the
At Disney, we are united in our efforts to operate 150,000th wish on World Wish Day. We also made
many forms of recognition we received this year for
responsibly; invest in the development and well-being strides in our efforts to expand our children’s hospitals
investing in our people, such as recognition by the
of our people; create unforgettable stories, characters, work internationally. Our children’s hospitals program
Dave Thomas Foundation for Adoption for being one
experiences, and products that capture the imagination has brought immeasurable comfort to children and
of the Best Adoption-Friendly Workplaces.
of our global audiences; care for the planet and its families, and new patient experiences introduced
resources; bring joy and inspire hope in communities Disney is committed to celebrating a fair, inclusive, this year in Korea, Japan, and beyond will expand our
around the world; and volunteer our time and energy and respectful world. To that end, in 2023 we continued ability to deliver joy when it is needed most. And our
to the causes we care about. This requires a balance to expand accessibility in our offerings, for example Disney VoluntEARS program celebrated its 40th
between quickly responding to new challenges while through reimagining Mickeyʼs Toontown at Disneyland® anniversary. Over the past four decades, VoluntEARS
also working toward long-term progress on issues that Resort in Anaheim, California with accessibility in mind. have collectively contributed more than 13 million hours
are important to our businesses. As we look back on our We celebrated hiring more than 13,000 veterans since of service to their communities around the world.
company’s 100th year, we’re proud of what we’ve our Heroes Work Here initiative was launched in 2012.
This report highlights many of these efforts and more
accomplished, and are committed to continuing the We also granted $1 million to nonprofits working to
in greater detail. We recognize that progress requires
work that supports our standing as one of the most encourage underrepresented youth to pursue creative
patience and adaptability, and this work is both
admired companies in the world. and technological careers in celebration of the theatrical
challenging and meaningful. We remain grateful for
release of Marvel Studios’ Black Panther: Wakanda Forever.
This work begins with how we do business. We strive to the strong support of our employees, shareholders,
operate with integrity and support global organizations We received verification of our greenhouse gas emissions guests, and customers, and we look forward to building
that have that same priority. In 2023, our Supply reduction goals from the Science Based Targets Initiative on our progress in the years to come.
Chain Investment Program provided grant funding to (SBTi) in calendar year 2023. We are working to reduce
Sincerely,
Robert A. Iger organizations such as Open Supply Hub and Working emissions from direct operations by designing our built
Chief Executive Officer, Capital Fund in an effort to improve global working environment to reduce or avoid emissions; promoting
The Walt Disney Company conditions and safeguard human rights. We also energy efficiency in our buildings and fuel efficiency for
supported 20 global organizations working to educate ships and fleet vehicles; replacing carbon intensive fuel
children, families, and teachers on digital literacy and sources with lower carbon alternatives; electrifying
resilience through our Digital Wellness Grant Program. buildings and transportation; and expanding our use of
renewable electricity. We also celebrated the 25th
As our company strategically reorganized this year, we
anniversary of Disney’s Animal Kingdom, a park
worked to provide resources to help ease that transition,
emblematic of our commitment to protecting wildlife,
while continuing to invest in our employees and their
 6 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

LETTER FROM OUR CEO HIGHLIGHTS FROM THE YEAR AWARDS & RECOGNITION OUR BUSINESSES STRATEGY & DISCLOSURE PRIORITIES OVERSIGHT & ACCOUNTABILITY STAKEHOLDER ENGAGEMENT & PARTICIPATION

HIGHLIGHTS FROM THE YEAR

Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact
We are committed to operating We invest in the talent development, We foster a culture that enables We take meaningful and measurable We bring comfort, optimism, and
responsibly and with integrity career mobility, safety, and overall our workforce to deliver stories, action to support a healthier planet joy to communities and inspire
in our businesses well-being of our people to inspire experiences, and products that reflect, for people and wildlife hope, especially for children
and empower them to do their best and resonate with, global audiences

$25M+ in grants 15K+ employees Reimagined Mickey’s Received SBTi validation 155K+ magical wishes granted
Contributed through our Supply enrolled in Disney Aspire Toontown at Disneyland Resort For our greenhouse gas emissions Together with Make-A-Wish,
Chain Investment Program since 2012 Our career development Opened with accessibility in mind, reduction targets in calendar year 2023 over the past 43 years
program for eligible hourly including sensory and interactive
20 digital wellness grants employees that pays 100% of elements and storytelling that 25th anniversary of Disney’s 900+ children’s hospitals
Given to support training, tuition at network schools celebrates our differing abilities Animal Kingdom And pediatric places of care around
resources, and activities that Celebrated 25 years of conservation the world were brought comfort and
promote digital literacy 2K leaders 13K+ veterans hired and inspiring guests with the magic joy through Disney stories and
Completed the Disney Leadership Across the company since 2012 through of the natural world characters
Developed and disclosed a Essentials experience to help better our Heroes Work Here initiative
Priority Chemicals List coach and develop their teams ~$7M in grants 40th anniversary of
That identifies substances we $1M in grants Contributed by the Disney Conservation Disney VoluntEARS
are working to reduce from our $17/hour base pay Contributed in celebration of the theatrical Fund to support the protection of Employees and cast members
branded products developed and For almost all eligible hourly release of Marvel Studios’ Black Panther: wildlife and their habitats have contributed 13M+ volunteer
sourced by Disney full-time and part-time Wakanda Forever to nonprofits working to hours since the program started
employees in our U.S. Disney reduce the gender gap in technology LEED for Communities Platinum four decades ago
$1B+ spent with Experiences business Certification from the U.S. Green
diverse suppliers Film Independent Imaginar Building Council achieved by $235M+ in charitable giving
Achieved our goal to spend at least 99%+ adjusted pay ratios Producers Residency Shanghai Disney Resort Total cash and in-kind giving
$1 billion annually with diverse For U.S. employees based on Supports Hispanic and Latino
suppliers by the end of fiscal 2024 gender, race, and ethnicity independent producers with a $50K grant 61% of total company 93M+ books donated
and mentorship, made possible by Disney, operational waste diverted To First Book since 2000, benefiting
Searchlight Pictures, and the National From landfill and incineration educators, children, and families
Association of Latino Independent Producers

Read more Read more Read more Read more Read more
 7 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

LETTER FROM OUR CEO HIGHLIGHTS FROM THE YEAR AWARDS & RECOGNITION OUR BUSINESSES STRATEGY & DISCLOSURE PRIORITIES OVERSIGHT & ACCOUNTABILITY STAKEHOLDER ENGAGEMENT & PARTICIPATION

AWARDS & RECOGNITION

Select Recent Awards & Recognition Received

Best Adoption-Friendly Best for Vets Dow Jones First Tier

Workplaces Employers, #41 Sustainability Index CPA Zicklin Index
Dave Thomas Foundation Military Times North America
for Adoption S&P Global CSA

Best Places to Work Corporate Equality Corporations America’s Top

for Disability Index, Perfect Score of the Year Corporations for
Inclusion, 100% Score Human Rights Campaign National Minority Supplier Women’s Business
Disability:IN Foundation Development Council Enterprises
Women’s Business Enterprise
National Council

World’s Most Admired Golden Halo Award 19 Green Seals and Pollinator Electric
Companies, #6 for ESPN 48 Gold Seals Power Award
Fortune Engage for Good Environmental Media North American Pollinator
Association Protection Campaign

Audio Description 11 Edward R. Murrow 5 Salute to 6 GLAAD Media

People’s Choice Award Awards for ABC News Excellence Awards Awards for Disney
The American Council and ESPN National Association of Entertainment
of the Blind Radio Television Digital Black Journalists GLAAD
News Association

Best Brands For America’s Best 4 Awards for America’s Most

Social Impact Employers For Social Good Responsible
Forbes Diversity, #98 Clio Entertainment Awards Companies, #105
Forbes Newsweek & Statista
 8 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

LETTER FROM OUR CEO HIGHLIGHTS FROM THE YEAR AWARDS & RECOGNITION OUR BUSINESSES STRATEGY & DISCLOSURE PRIORITIES OVERSIGHT & ACCOUNTABILITY STAKEHOLDER ENGAGEMENT & PARTICIPATION

OUR BUSINESSES
The Walt Disney Company, together with
its subsidiaries, is a diversified worldwide
entertainment company with operations in three
segments: Entertainment, Sports, and Experiences.
Our mission is to entertain, inform, and inspire
people around the globe through the power
of unparalleled storytelling, reflecting the
iconic brands, creative minds, and innovative
technologies that make ours the world’s
premier entertainment company.
 9 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

LETTER FROM OUR CEO HIGHLIGHTS FROM THE YEAR AWARDS & RECOGNITION OUR BUSINESSES STRATEGY & DISCLOSURE PRIORITIES OVERSIGHT & ACCOUNTABILITY STAKEHOLDER ENGAGEMENT & PARTICIPATION

STRATEGY & DISCLOSURE PRIORITIES

Since the companyʼs founding 100 years ago, integrity has Charitable Giving Approach
been integral to our DNA and it underpins our commitments Foundational Pillars Focus Areas
Disney endeavors to be a force for good, bringing positive, meaningful,
to operating responsibly in our businesses; investing in
and measurable impact to communities around the world. Guided by our
our people and their development, employee experience,
Charitable Giving Guidelines, we prioritize financial contributions, in-kind
and well-being; fostering diversity, equity, and inclusion in
donations, and nonprofit collaborations that align to our sustainability
our workplace, to enable our workforce to deliver stories,
and social impact focus areas; leverage our unique resources, skills,
experiences, and products that reflect, and resonate with,
Operating Responsibly Diversity, Equity & Inclusion talents, and expertise; and address pressing community needs.
global audiences; undertaking meaningful and measurable
environmental sustainability efforts; and having a positive We are committed to operating We foster a culture of belonging Additionally, we match eligible employee and cast member
social impact by supporting communities through our responsibly and with integrity that enables our workforce to donations of money and time through our U.S. Matching Gifts
philanthropic efforts. This report describes select policies, efforts and periodic international donation amplification offerings,
in our businesses deliver stories, experiences, and
practices, and programs that embody these commitments. as well as our Disney VoluntEARS Grants program. In the past
products that reflect, and resonate
decade, we have matched more than $113 million.
As a diverse multinational organization, we consider and with, global audiences
address a large variety of topics that relate to operating our OUR PHILANTHROPY IS FOCUSED ON:
businesses. To help inform and evolve our efforts and our
disclosures on select topics, we evaluate stakeholder input Diversity, Equity & Inclusion: Grants that advance accurate
as well as existing and developing third-party frameworks. portrayals in storytelling and expand access to opportunity
Investing in Our People
Our Data & Frameworks section at the end of this report in media and entertainment
We invest in the talent
includes disclosures derived from the Sustainability Environmental Sustainability Environmental Sustainability: Grants that conserve, restore, and
Accounting Standards Board (SASB); the Task Force on development, career mobility, rewild nature; empower nature leadership; and protect and restore
safety, and overall well-being We take meaningful and measurable
Climate-related Financial Disclosure (TCFD), by mapping to natural resources to support climate resiliency and ecosystem health
of our people to inspire and action to support a healthier planet
our CDP disclosures; and the UN Sustainable Development
empower them to do their best for people and wildlife Social Impact: Grants that bring joy and comfort to our
Goals (SDGs). Additionally, we include icons in various
communities and inspire hope, especially for children
sections throughout this report to indicate where information
supports specific SDGs and SASB indicators.
Inclusion of information in this report should not be We appreciate feedback on our efforts
so we can improve this report: We are committed to directing > 50% of
construed as a characterization of the materiality or
our annual charitable giving to programs
financial impact of that information. TWDC.Sustainability Social Impact benefiting underrepresented communities.
@disney.com
We bring comfort, optimism, and joy In fiscal 2023, ~62% of our ~$235 million in
SDG ICONS SASB LOGO to our communities and inspire hope, total cash and in-kind charitable contributions
especially for children supported this commitment.†

† See footnote 33 on p. 72.

10 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

LETTER FROM OUR CEO HIGHLIGHTS FROM THE YEAR AWARDS & RECOGNITION OUR BUSINESSES STRATEGY & DISCLOSURE PRIORITIES OVERSIGHT & ACCOUNTABILITY STAKEHOLDER ENGAGEMENT & PARTICIPATION

OVERSIGHT & ACCOUNTABILITY

Sustainability Leadership Board of Directors

Committee Oversight of Sustainability-Related Matters:

Oversight and strategic direction related to key Governance & Nominating Committee Audit Committee Compensation Committee
policies, practices, and programs discussed in
Oversees environmental, social, and governance programs and reporting, Reviews the company’s policies and practices with respect to Oversees evaluation of topics such as workforce
this report are illustrated in the chart to the right. including with respect to environmental sustainability policies and initiatives, risk assessment and risk management, for example oversees equity matters, the companyʼs benefit programs,
This chart reflects functions that collaborate on as well as human rights-related policies, lobbying, and political strategy cybersecurity and data security risks and mitigation strategies employee engagement, and talent development
select sustainability-related efforts, but does not
include all functions within each vertical depicted.

Chief Executive Officer

Chief Legal & Chief Financial Chief Human Chief Communications Chief Brand Segment Leaders,
Compliance Officer Officer Resources Officer Officer Officer Chairs & Presidents

Functions and Workstreams Related to Sustainability Matters:

Sustainability
Reporting Total Rewards
Investor Relations

Environmental Corporate Cause Individual

Sustainability Social Marketing Business
Organizational Responsibility Campaigns Line Leaders
Development
Information
Human Rights Security

Diversity,
Government
Equity & Inclusion
Relations
Risk
Global Public Policy Management Segment
Learning & Environmental
Talent Solutions Communications
Brand Sustainability &
Strategy &
Global Ethics & Research Corporate Social
Operations
Compliance Responsibility
Teams
Tax Talent
Acquisition
Privacy
11 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

LETTER FROM OUR CEO HIGHLIGHTS FROM THE YEAR AWARDS & RECOGNITION OUR BUSINESSES STRATEGY & DISCLOSURE PRIORITIES OVERSIGHT & ACCOUNTABILITY STAKEHOLDER ENGAGEMENT & PARTICIPATION

STAKEHOLDER ENGAGEMENT & PARTICIPATION

Community Group Objective of Engagement Examples of Engagement

Learn more in our Data & Frameworks
EMPLOYEES Listening to and learning from our employees and cast members assists • Employee experience surveys and business-specific surveys
us in better understanding what matters most to them and helps us • Focus groups
We engage with a variety of stakeholders, make the employee experience at Disney more fulfilling and meaningful. • Town halls
including employees, shareholders, consumers, • Facilitated conversations focused on topics that
industry and business communities, policymakers, matter to our employees
NGOs, and nonprofit organizations, to help
inform our practices, policies, and programs. SHAREHOLDERS Members of management, the Board, and our Investor Relations team • Management and Board engagement
We believe this feedback can enhance our ability maintain a strong shareholder engagement program. Shareholder • Investor Relations meetings with shareholders
to identify risks and opportunities and, in certain feedback helps inform the company’s thinking. throughout the year
• Earnings calls
cases, solutions to some of our challenges. • Annual Meeting of Shareholders
We also engage on the core policy areas that will • Investor conferences and events
have a direct impact on our business, both directly
and through our trade associations. CONSUMERS Our consumer engagement approach helps us better understand what our • Consumer surveys
customers and audiences expect from us, and it helps inform how we can • Focus groups
utilize our creativity and unique content and experiences to entertain • Fan events
millions globally. • Social media interactions
• Customer service emails and calls

INDUSTRY & BUSINESS Through engagement with industry leaders, suppliers, small business • Industry and multi-stakeholder associations and efforts
COMMUNITIES owners, and others, we learn about trends and insights related to our • Supplier meetings and collaborations
businesses, and we join efforts to create large-scale, industry-wide change. • Industry conferences
We are active participants in multi-stakeholder efforts to improve labor
conditions and reduce environmental impacts in global supply chains.

NGOs & NONPROFIT NGOs and nonprofit organizations address a variety of challenges, both • Signature social impact initiatives
ORGANIZATIONS globally and locally. Their expertise on evolving trends and on-the-ground • Awareness campaigns
programs helps us reach individuals and communities in collaborative • Consultation on important topics (e.g., climate change,
ways that create greater impact. environmental goals, human rights)
• Cash and in-kind charitable giving
• Employee volunteering and giving
12 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Operating
Responsibly
We are committed to
operating responsibly and with
integrity in our businesses

In This Section

13 CORPORATE GOVERNANCE
13 ETHICS
14 RISK OVERSIGHT
14 HUMAN RIGHTS
15 SUPPLY CHAIN
17 PRODUCT SAFETY
18 GUEST SAFETY
19 INFORMATION SECURITY
19 PRIVACY
19 DIGITAL WELLNESS &
RESPONSIBLE CONTENT
20 RESPONSIBLE ADVERTISING &
MARKETING
21 JOURNALISTIC INTEGRITY
21 ARTIFICIAL INTELLIGENCE
21 TAX STRATEGY

Cast members operate the Walt Disney

World Railroad at Magic Kingdom
13 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

CORPORATE GOVERNANCE ETHICS

Board Diversity
Based on 12 Directors nominated by the
company for our 2024 Annual Meeting SV-HL-310a.4

Learn more in our Data & Frameworks Learn more in our Data & Frameworks

GENDER/RACIAL/ETHNIC DIVERSITY
We adopt appropriate governance policies Disney conducts business in accordance with high
and practices and have a Board of Directors with standards of business ethics and complies with
relevant experience. The company has nominated applicable laws, rules, and regulations. We hold
12 Directors for our 2024 annual meeting whose 6 out of 12 our Board of Directors accountable to our Code
Director nominees
backgrounds encompass a range of talents, skills, of Business Conduct and Ethics for Directors.
and expertise, including experience leading global
50% are women
Our Standards of Business Conduct apply to our
and/or racially/
organizations. Eleven of those 12 Director nominees ethnically diverse employees and include resources and tools that
are independent.† Our Directors reflect the diversity help promote ethical conduct and compliance
of the company’s shareholders, employees, customers, with the law. We regularly engage our leaders and
guests, and communities, with six out of 12 nominees employees on these standards through training
representing diverse gender, ethnic, and/or racial and other communications. Employees can
backgrounds. As of the end of fiscal 2023, all members GENDER DIVERSITY confidentially report ethical concerns to our
of the Audit Committee, Compensation Committee, internal alert hotline, The Guideline.
and Governance and Nominating Committee
were independent.
5 out of 12
Director
42% nominees are
Read more about our approach to women
corporate governance:
Oversight & Accountability

RACIAL/ETHNIC DIVERSITY

3 out of 12
Director nominees
25% are racially/
ethnically diverse
(Asian, Black, Latina)
Guests get ready to ride TRON
Lightcycle / Run, which opened in
April 2023 at Walt Disney World ® Resort
† Pursuant to the Board’s application of NYSE independence rules.
14 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

RISK OVERSIGHT HUMAN RIGHTS

Our Board of Directors, as a whole or through its

committees, is responsible for assessing the major risk
factors relating to the company and its performance
and for reviewing measures to address and mitigate Learn more in our Data & Frameworks
such risks.
To help minimize the financial impact of potential risks We are committed to respecting the human rights of our
and support business continuity, we use risk financing employees, our guests and customers, our communities, and
strategies including self-insurance, contractual our business partners. We identify our salient human rights
risk transfer, commercial insurance, and alternative issues in the following areas: our people, our content, our
risk financing techniques. Our Enterprise Risk products and supply chains, our communities, children, and
Management function provides insights by working privacy. We reevaluate our salient issues as new information
across the company with our business segments and becomes available.
units to help identify, assess, and mitigate operational Our commitment is informed by the United Nations Guiding
risks—including those related to environmental Principles on Business and Human Rights and recognizes the
matters—with these risk financing strategies. human rights referenced in the United Nations International
Bill of Human Rights and the principles referenced in the
International Labour Organizationʼs Declaration on Fundamental
Principles and Rights at Work and the Convention on the Rights
of the Child. This commitment is reflected in our various practices
and programs and is outlined in our Human Rights Policy.
Following these principles, we evaluate where we may cause or
contribute to actual or potential adverse human rights impacts
through our own business activities, or where human rights
impacts may be directly linked to our operations, products,
and/or services by our business relationships. We exercise due
diligence on an ongoing basis as we seek to identify, prevent,
and mitigate potential human rights risks and impacts. As part
of this process, we collaborate and engage in regular dialogue
with industry associations, intergovernmental organizations,
employees, content creators, civil society, and suppliers.
The Governance and Nominating Committee of our Board
of Directors oversees the company’s human rights-related
policies. Our Global Legal, Policy, and Compliance function,
which reports to our Chief Legal and Compliance Officer, has
oversight of compliance with our Human Rights Policy and
works across the company to monitor emerging issues, share
progress, and identify areas for improvement.
15 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

SUPPLY CHAIN

International Labor Standards In accordance with the ILS program, licensees and
vendors producing Disney-branded products in certain
CG-AA-430b.3 The Disney International Labor Standards (ILS) program
countries must conduct audits and provide audit reports
governs labor standards compliance across the extensive
Learn more in our Data & Frameworks on a regular basis. We use ILS audits as a tool designed
supply chain for Disney-branded consumer products.
to identify and address potential labor-related issues.
Now in its third decade, the ILS program:
We are committed to working within our global Audits are generally conducted by either third-party
supply chains to foster safe, inclusive, and respectful • Establishes requirements for licensees and vendors auditors or Disney staff and findings are reviewed for
workplaces. We collaborate with suppliers around the to monitor their supply chains for compliance with compliance with ILS program requirements. Necessary
world as part of our efforts to prevent, mitigate, and Disney’s Code, including local labor and corrective action plans may be sent to licensees and
remedy adverse human rights impacts as well as to environmental laws vendors, who are expected to review them with their
reduce the environmental impacts of our operations, • Specifies where products may be produced and facilities and implement steps to promptly remedy any
products, and services where we operate. maintains the names and locations of factories identified compliance violations; failure to do so in a
authorized to manufacture Disney-branded products timely manner can result in removal of authorization
We purchase an extensive array of products, materials, • Sets standards for when, where, and how social to produce Disney-branded products.
and services from thousands of suppliers to support compliance audits assess compliance with ILS
our operations. In addition, Disney-branded products Requirements for our ILS program are described in our
program standards
are produced in roughly 43,500 facilities in ILS Program Manual, as well as in supplemental guides,
• Reviews audit and assessment reports regularly and
approximately 100 countries, creating a highly including those for forced labor and health & safety. The
issues corrective action plans, as appropriate, to
complex global network of suppliers. program is informed by our Human Rights Policy,
promote improvement in working conditions
Supply Chain Code of Conduct, and Standards of
• Provides guidance, training, and capacity building
We expect our suppliers to uphold the standards of Business Conduct, along with a range of other
to vendors and licensees on how to improve the labor
our Supply Chain Code of Conduct (the “Code”). The responsible business expectations.
conditions of their facilities
Code is integrated into our business operations,
including through a range of specific measures to To promote company-wide integration, our Global
The ILS program requires licensees and vendors
monitor and assess compliance as appropriate. Products & Labor Standards function, which reports
involved in the production of Disney-branded goods
up through our Chief Financial Officer, has responsibility
to source and manufacture products from countries that
for the ILS program. The Audit Committee of the
are on Disney’s list of Permitted Sourcing Countries,
company’s Board of Directors oversees and periodically
which is updated on a regular basis. To provide further
reviews the company’s policies and practices related to
transparency and promote program compliance, we
compliance with laws, ethical conduct, and conflicts of
periodically update our published list of facilities
interest, and receives periodic updates on the
producing Disney-branded products that are sold,
performance of the ILS program.
distributed, or used in our own retail and wholesale
businesses, as well as those used in our internal
operations, on Open Supply Hub.
16 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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Supply Chain Investment Program Supplier Diversity

To advance labor standards, we collaborate with We believe that including diverse suppliers in our sourcing
outside organizations to help incubate and pilot scalable process provides a meaningful opportunity to seek innovative
tools and programs through Disney’s Supply Chain and high-quality business solutions, while also supporting jobs.
Investment Program (SCIP). SCIP provides grant funding
In 2021, we set a goal to spend at least $1 billion annually
to nonprofit organizations, social enterprises, and United
with diverse suppliers by the end of fiscal 2024. Reaching
Nations agencies to support innovative solutions that
this goal would place Disney among the top U.S. companies
catalyze sector-wide improvement and help enhance
CONTRIBUTIONS SINCE DISNEY’S that are spending with diverse suppliers. In fiscal 2023, we
supply chain visibility. SCIP works to address issues SCIP PROGRAM BEGAN IN 2012 achieved our goal a year early and we remain committed
including forced labor, worker voice, supply chain
to including diverse suppliers in our supply chain. We also
traceability, child labor, and ethical recruitment.
received the National Minority Supplier Development
Council’s National Corporation of the Year award for supplier
IN 2023, SCIP PROVIDED FUNDING TO:
diversity program success and active participation in the
• Open Supply Hub, which provides open access to $25M+ community. Efforts in 2023 included: $1B+
global supply chain data to improve human rights
and environmental conditions in and around • Participating in matchmaking sessions with Disability:IN,
factories. To expand visibility into raw material and meeting with many Disability-Owned Business Enterprises
commodity supply chains, our funding will help and selecting potential new suppliers
expand its supply chain mapping platform to include In financial contributions • Supporting the National Black Business Pitch contest and Spent with diverse suppliers in
agricultural supply chains. mentoring program, organized by Women’s Business fiscal 2023, achieving our goal to
• Working Capital Fund, which partners with Enterprise Council West spend at least $1 billion annually
entrepreneurs to develop and deploy new tools to • Including U.S. military spouse-owned businesses in supplier with diverse suppliers by 2024††
improve working conditions. Our funding will diversity classifications
support supply chain traceability technologies and
• Launching the Certified Diverse Marketing Agency Hub,
efforts to increase end-to-end visibility into global
a new tool offering Disneyʼs Television Marketing teams a
supply chains.
quick, easy way to connect with certified diverse marketing
and communications agencies
• Producing an internal training module designed to enhance
knowledge of the Supplier Diversity program and its
positive impact on communities†
• Leveraging an internal dashboard that guides business unit
leaders in their supplier diversity benchmarks and progress
toward Disney’s diverse spending goal
• Collaborating with supplier diversity-focused organizations,
business development organizations, advocacy groups, and † The module is available for select business units,
trade show organizers with plans to expand availability over time.
†† See footnote 51 on p. 72.
17 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

PRODUCT SAFETY

Management of Chemicals in
Consumer Products
We also have policies to manage the use of chemicals in
Learn more in our Data & Frameworks
products. In 2023, Disney developed and disclosed a
Priority Chemicals List (PCL) that identifies substances
The safety of products bearing Disney brands, characters, we are working to reduce in our branded products.
and other intellectual property is of the utmost For Disney-branded products developed and sourced
importance to us. Disney-branded consumer products, by Disney entities, we have established thresholds
spanning numerous categories, from toys and apparel and timelines to reduce the use of these chemicals.
to books and fine art, are produced by thousands of For our licensed products, we encourage our licensees
third-party licensees and vendors around the world. to similarly work to reduce these chemicals. To address
Our product safety program accounts for this breadth, compliance with our PCL policies, Disney uses a
as well as the rapid changes in scientific knowledge, risk-based approach that includes random audit testing
evolving regulations, and customer and community on select products and the submission of relevant
feedback. Our Supply Chain Code of Conduct specifies documentation by vendors.
our expectation that all suppliers deliver products and
services that comply with our safety and quality standards. Disney’s PCL was developed by considering several
resources, including, but not limited to, the EU
Our Product Integrity function oversees Disney’s safety REACH Substances of Very High Concern (SVHC),
policies, procedures, and operating requirements for the Canadian Environmental Protection Act list of
physical products containing Disney intellectual property toxic substances, and chemicals of concern lists in the
across the enterprise and is led by our Global Product & states of Washington, Vermont, and Oregon. We will
Labor Standards function. Disney requires that licensees conduct a regular review process to identify additional
and vendors contractually commit to follow procedures substances for reduction. Additionally, we encourage
for verifying that Disney-branded products comply with vendors to use recognized resources to identify safer
applicable safety regulatory requirements and any alternatives to chemicals listed on the PCL.
additional requirements that may be specified by Disney.
As part of our chemical tracking efforts, in 2023 we
Disney, in conjunction with renowned independent testing participated in the Chemical Footprint Project’s survey
laboratories, developed product guidelines that specify to establish an internal chemicals baseline. We intend to
applicable product safety standards for numerous product use this survey process, or another industry standard
categories and geographic regions. These guidelines cover tool, to measure progress toward the reduction of PCL
a broad range of physical, mechanical, toxicological, chemicals in Disney-branded products developed and
microbiological, flammability, electrical, and chemical safety sourced by Disney.
requirements. They are available online for use by product
designers, licensees, and vendors. We require compliance
with product guidelines that include testing performed by
accredited third-party laboratories for Disney-branded
products developed and sourced by Disney entities.
18 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

GUEST SAFETY

Maintenance teams perform preventive ride maintenance Food Safety

functions nightly. And our computerized maintenance
Our parks and resorts take a multifaceted approach
management system includes Disney-patented
to advancing food safety, including:
technology, designed to prevent a ride vehicle
from accepting guests unless the required critical • A vendor food safety program requiring suppliers to
maintenance is completed, and the attraction has follow established food safety protocols and
been deemed ready to open. demonstrate compliance with regulatory requirements
• Food safety audits to verify adherence to regulations
Annual audits are conducted by engineers for registered
and company standards; each year, we conduct thorough
attractions, in cooperation with maintenance, operations,
Safety is the first of the Five Keys of Disney’s standards measurements and audits across our properties
and training management teams. These audits focus on
for theme park excellence. • Education and rigorous formal training for cast
key elements of safe operations, including pre-opening
members who work with food on topics including
Our safety professionals reflect a broad range of procedures, daily checklists, operational performance, and
proper food handling, storage and preparation,
disciplines, including medicine, engineering, quality, training. In addition, throughout the year, we conduct
personal hygiene, and sanitation requirements
maintenance, attraction operations, ergonomics, ongoing preventive maintenance on park attractions.
industrial hygiene, occupational safety, and food safety.
We also conduct annual audits of our attraction Safety in Our Communities
We conduct inspections at our properties to monitor
documentation. These audits review documentation
compliance with both internal standards and Disney Wild About Safety global educational program
required under applicable regulations, as well as
regulations. We regularly provide safety training and aims to improve families’ awareness of safety, health, and
ASTM International standards. In addition to reviewing
information to our cast and crew members through environmental issues through storytelling. Timon and
records for items such as preventive maintenance,
formal instruction, on-the-job training, and ongoing Pumbaa from the animated film The Lion King are
inspections, and corrective work, the reviews also
communications. In addition, we launched safety culture official spokes-characters on a mission to share
examine basic governing documentation, such as
conversations for salaried leaders at our theme parks important safety and health messages through
operating guides, manufacturers’ requirements
globally. During these conversations, executives share multilingual illustrations on tip cards, activity books, a
manuals, and maintenance manuals.
safety stories, best practices, and learnings designed to dedicated resort television channel, and other materials
engage our teams in leading with safety at the forefront. In addition, we are always looking at ways that throughout our theme parks and resorts worldwide.
technology can enhance safety. As a unique approach
In 2023, Disney Wild About Safety hit the road with the
Attraction Safety to aid in safety, reliability, and efficiency, we utilize
French National Firefighters Federation, sharing fire
“digital twins” of certain attractions and transportation
According to the annual International Association of safety practices with fans in France.
systems. This technology simulates the operating
Amusement Parks and Recreation Ride Safety Report
attraction or transportation system to provide In addition, Walt Disney World® Resort welcomed
administered by the National Safety Council, the
greater insights. children to Disney’s Typhoon Lagoon as part of the
industry injury rate per million in ridership decreased
2023 World's Largest Swimming LessonTM event, which
by 19% between calendar years 2021 and 2022, from
included activities with Disney Wild About Safety. This
0.90 to 0.73.† Over that same timeframe, our U.S. parks
event teaches water safety skills at hundreds of sites
reported rates that were more than 60% below the
around the world.
industry average.

† National Safety Council, “North America Fixed-Site Amusement Ride

Safety Report, 2022 Update” Published September 2023.
19 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

INFORMATION SECURITY PRIVACY DIGITAL WELLNESS & RESPONSIBLE CONTENT

TC-IM-230a.2 TC-IM-220a.1

Learn more in our Data & Frameworks Learn more in our Data & Frameworks Learn more in our Data & Frameworks

Information security, including cybersecurity, is an We have policies designed to enhance the protection of the We believe the digital world should be a safe space for kids and
important aspect of operations as it protects systems, personal information of our customers, guests, non-guests, families to engage, learn, explore, and express themselves. We strive
networks, and programs from digital attacks. The including job applicants and third-party businesses, and our to produce positive, respectful, high-quality content and experiences
company’s information security management system employees. Our global privacy program is based on the designed for individuals, children of all ages, and families.
is designed to secure the Disney Global Network’s principles of privacy by design, accountability, transparency,
digital environment as we grow our businesses. Our and giving individuals meaningful controls over their We deliver content through multiple channels, including our
information security program continues to be informed personal information. We regularly assess and update our own digital offerings. Our internal policies and practices
by the National Institute of Standards and Technology program to take into account applicable requirements of promote safety within our digital experiences. We provide
Cybersecurity Framework and other recognized new privacy laws and regulations around the world and to parents and caregivers with controls and recommendations so
information security frameworks, including the core keep up with rapid advancements in technology and new that they can choose the content and experiences that are right
principles set forth therein. business initiatives. In 2023, this included working with for their families.
partners across our businesses to update our program to We also support children’s digital well-being through our Digital
The Audit Committee of our Board of Directors reviews
reflect requirements that went into effect in California, Wellness Grant Program. We provide funding to nonprofits and
the company’s cybersecurity and data security risks and
Virginia, Colorado, Utah, and Connecticut. other organizations working to educate children, parents, caregivers,
mitigation strategies. Day-to-day management is the
responsibility of our Information Security function, We provide privacy training to our employees and have and teachers around the globe about digital citizenship. Grantees
which reports to our Chief Financial Officer. This team incorporated privacy topics into the company’s Standards of offer expertise in areas of focus including digital literacy and
periodically updates the Audit Committee on the Business Conduct and information security trainings—both resilience, privacy, responsible internet use, and critical thinking.
company’s cybersecurity risks and mitigation strategies. of which are required on a recurring basis. We also regularly In 2023, we supported 20 organizations through digital wellness
conduct specialized trainings for applicable employees on education grants. Our initiatives supported peer-to-peer training,
how to properly handle the personal information of development of resources for parents and educators, and
Read more about our approach to cybersecurity: customers, employees, contractors, and/or third parties. activities to promote mindful digital use and online safety. For
Information Security Management System Day-to-day management of data privacy is the responsibility example, in Indonesia, we supported the Ganara Mariberbagi
of our Global Legal, Policy, and Compliance function, Seni Foundation’s Creative Digital Camp, an initiative to educate
which reports to our Chief Legal and Compliance Officer. students, parents, and teachers across multiple provinces by
giving them a thorough understanding of digital literacy and
online safety through art activities. In Sweden, we supported an
Read more about our approach to privacy: organization called Friends, with a focus on its Ask Us! Youth Learn more about content
Online Safety program. Working with children and youth safety functionalities:
Privacy Center globally, it aims to establish youth-led recommendations for
online child safety. And in the United States, we are helping the Disney+ Parental Controls Page
Children’s Privacy Policy
National Center for Missing and Exploited Children support
authorities in responding to potential online threats facing
children. We also participate in industry coalitions to promote
user awareness of online safety.
20 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

RESPONSIBLE ADVERTISING & MARKETING

Promoting Healthy Food Choices Responsible Gaming

FB-FN-260a.3 We promote healthier food and beverage choices to ESPN is strongly committed to promoting fan safety in
kids through our Nutrition Guidelines. These guidelines the sports betting space. The ESPN BET sportsbook,
Learn more in our Data & Frameworks
apply when our intellectual property, such as a beloved operated by PENN Entertainment, offers comprehensive
character, is associated with food and beverage products. gaming tools and educational resources. In addition,
Our policy is to present advertising that is truthful, They apply, for example: to Studio promotions, character ESPN continues to create and adapt responsible gaming
accurate, tasteful, and age appropriate for the audience. licensing, as well as third-party advertising on our kids’ programming and policies, including, but not limited to:
We follow applicable laws and regulations, as well as networks; in determining the placement of food and
meet industry and our own high corporate standards. • An employee betting policy that includes rules to
beverage advertising on Disney+; and to kids’ meals in
Our dedicated standards professionals review advertising support ESPNʼs high standards of journalistic integrity
our parks. Ongoing reviews of these global guidelines
content (e.g., third-party commercials, co-branded when covering the sports betting space
help us reflect up-to-date dietary guidance and consider
custom content, public service announcements) to assess the evolving social and scientific understanding of • An ESPN committee on responsible gaming, composed
compliance with our guidelines and appropriateness children’s physical and digital lives. of a diverse cross-section of executives and key
for our respective audiences across our platforms. stakeholders across the business, to regularly review
Nearly all food and beverage advertising on our linear compliance, programming, and policies
kids’ networks met our Nutrition Guidelines in fiscal In 2023, we teamed up with the multinational
Advertising & Marketing to Children grocery chain Carrefour to promote fruit and vegetable • Implementation of responsible marketing policies
2023. On Disney+ in the U.S., 100% of food and
Per our advertising guidelines and policies, we take into consumption. For a number of weeks, familiar Disney and guidelines designed to safeguard fans, including
beverage advertising delivered to viewer profiles
consideration the cognitive and emotional maturity of characters and promotional materials took over the restrictions against advertising to underage audiences
associated with a viewer under the age of 13 met our
children when reviewing and assessing advertising produce aisles in several Carrefour stores in France. The and marketing on college campuses
criteria, as did food and beverage advertising in any
delivered on our platforms and when developing content rated G and below. In addition, we again met pilot program was successful in promoting fresh fruits • Working with industry experts to share best practices
marketing materials for our own products that are our target of having at least 85% of our licensed food and vegetables. The program was replicated in Italy, and and regularly review responsible gaming programming,
intended for younger audiences. These guidelines and and beverages intended for children and families we plan to expand this initiative to other stores globally. which includes investing in a groundbreaking new
policies also govern the marketing and promotion of our worldwide meet our nutrition criteria for healthier collaboration with UNLVʼs Institute of International
own products, experiences, and communications. Our choices. In North America, these licensed products carry Gaming that aims to advance responsible sports betting
guidelines are designed to promote digital and physical the Disney Check—a quick and easy way for people to Learn more: practices through education and research
safety for children, help parents and caregivers decide identify healthier options. Privacy Center
on the appropriate experiences for their families, and
encourage children to make good choices. Operating Responsibly

Nutrition Guidelines
21 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

CORPORATE GOVERNANCE ETHICS RISK HUMAN RIGHTS SUPPLY CHAIN PRODUCT SAFETY GUEST SAFETY INFORMATION SECURITY PRIVACY DIGITAL WELLNESS RESPONSIBLE ADVERTISING JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE TAX STRATEGY

JOURNALISTIC INTEGRITY ARTIFICIAL INTELLIGENCE

• Listens to audience concerns and grievances about We are committed to operating our businesses
ABC News reporting. Feedback is collected through a responsibly, with integrity and respect. We embrace the
SASB SV-ME-260a.2; SV-ME-270a.3
number of mechanisms, including email and voicemail. benefits that Artificial Intelligence (AI) may offer to our
Learn more in our Data & Frameworks We review concerns and grievances and, when appropriate, employees, customers, guests, and creators and will use
issue updates, clarifications, or corrections AI in a responsible, human-centered, and ethical manner
It is our responsibility to uphold the principles of fairness consistent with that commitment. We have established
While operations are based in the U.S., ABC News is a
and integrity as we gather and report the news. ABC News an AI governance process that operates pursuant to a
global organization with offices and correspondents in
journalists worldwide are expected to approach their work principle-based framework; is designed to allow for the
locations around the world. Policies and practices to support
with rigor, to question thoroughly and skeptically, to analyze identification of business, information integrity, human
journalistic integrity apply to ABC News’ operations globally.
deeply, and to adhere to high journalistic standards. Senior rights, privacy, legal, and other risks associated with a
ABC News editorial and management executives oversee ESPN has similar standards for journalistic integrity. proposed use and appropriate measures to satisfactorily
media ethics and guidelines at ABC News. ESPN’s Universal News Group gathers sports news for mitigate them; and includes appropriate updates to
our platforms, including linear, digital, and social media. executive management and the Board.
ABC News: ESPN’s Editorial Board meets monthly to review coverage
• Commits to the independence of our editorial policies and procedures. And ESPN’s Inclusive Content
decision-making from commercial, political, and other Committee serves as a diverse resource for content
interests of the company’s management or owners, as creators to help enhance ESPN’s storytelling. TAX STRATEGY
well as from the interests of external stakeholders. It
ABC News and ESPN each won numerous awards in
works to provide accurate and useful information across
2023. For example, ABC News was recognized Our global tax strategy supports our commitment to
our platforms and to present a plurality of voices, stories,
with nine Edward R. Murrow awards, one News high standards of corporate governance, transparency,
and points of view in our news content
and Documentary Emmy Award, a George Foster and accountability in the execution of our global business.
• Focuses on research quality (e.g., thoroughness, diligence,
Peabody Award, an Alfred I. duPont Award, two Walter Our tax strategy and its underlying principles apply to our
control) and integrity. Plagiarism violates ABC News’
Cronkite Awards, and five National Association of controlled subsidiaries of The Walt Disney Company
standards, as does the acceptance of payments, gifts, or
Black Journalists awards. ESPN was recognized with and guide the decisions we make relating to corporate tax
favors that might compromise or appear to compromise
two Edward R. Murrow awards, 13 Sports Emmy Awards, matters. We incur taxes in the countries where our activities
the independence and integrity of ABC News
the Golden Halo Award from Engage for Good, and take place and have a zero-tolerance approach to tax evasion
• Conducts standards and ethics training for new hires
the Luminary Award from the National Association and the facilitation of tax evasion. We work proactively and
and annual training sessions on updated standards for
for Multi-ethnicity in Communications. transparently with tax authorities to resolve tax positions that
ABC News journalists
have the potential to result in tax disputes.
• Implements measures to protect correspondents and other
employees reporting in high-risk regions and situations.
Read more about journalistic integrity:
This can include individual or group training prior to
assignments, use of experienced teams, counseling during SASB Index
and after assignments, protective equipment, and use of
experienced guides who are accustomed to local
Maharajah Jungle Trek in conditions. We also provide insurance in case of illness,
Disney’s Animal Kingdom occupational injury, and loss of life. Assignments to crisis
at Walt Disney World regions are voluntary and employees are not penalized for
refusing or terminating a dangerous assignment
22 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Investing in
Our People
We invest in the talent development,
career mobility, safety, and overall
well-being of our people to inspire and
empower them to do their best

In This Section

23 OVERVIEW
24 SUPPORTING OUR EMPLOYEES THROUGH
CHANGE
24 EMPLOYEE SAFETY, HEALTH & WELL-BEING
25 COMPREHENSIVE TOTAL REWARDS
26 SPOTLIGHT: INVESTING IN OUR
EMPLOYEES’ FUTURES
27 EMPLOYEE ENGAGEMENT & RECOGNITION
28 TALENT DEVELOPMENT

Cast member joyfully demonstrates

the magic of Disney at Magic
Kingdom in Walt Disney World
23 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW SUPPORTING OUR EMPLOYEES THROUGH CHANGE EMPLOYEE SAFETY, HEALTH & WELL-BEING COMPREHENSIVE TOTAL REWARDS SPOTLIGHT EMPLOYEE ENGAGEMENT & RECOGNITION TALENT DEVELOPMENT

OVERVIEW
Disney is home to some of the most exceptional and Disney is home to a community
dedicated people. We welcome talent of all kinds,
from animators to engineers to zookeepers, and of passionate, creative, and
many roles in between, and we seek to cultivate an innovative employees who reach new
environment where every individual feels supported
in exploring their career ambitions. We strive
heights together. We seek to foster an
to inspire and care for one another, during good inclusive environment with unparalleled
times and bad. opportunity, where our employees can
Our approach focuses on attracting, engaging, thrive personally and professionally
developing, and rewarding a talented, diverse, and
best-in-class team while instilling a culture of and unleash their greatest potential.
integrity, creativity, collaboration, community, and Our exceptional talent paves the way
inclusion to promote a positive employee experience.
to our success, enabling us to continue
Our Chief Human Resources Officer leads our sharing heartwarming stories and
human capital management and employee
experience strategy and reports to our CEO. This unforgettable experiences that touch
role periodically updates our Compensation the hearts of millions around the world.
Committee or full Board of Directors on topics such
as workforce equity matters, the company’s benefit Sonia Coleman
programs, employee and leader engagement, and Chief Human Resources Officer,
talent development, and is supported by a variety of The Walt Disney Company
dedicated human resources functions across our
businesses, content engines, and regions.
24 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW SUPPORTING OUR EMPLOYEES THROUGH CHANGE EMPLOYEE SAFETY, HEALTH & WELL-BEING COMPREHENSIVE TOTAL REWARDS SPOTLIGHT EMPLOYEE ENGAGEMENT & RECOGNITION TALENT DEVELOPMENT

SUPPORTING OUR EMPLOYEES EMPLOYEE SAFETY,

THROUGH CHANGE HEALTH & WELL-BEING
Our organization experienced substantial change Mental Health
throughout fiscal 2023 as we streamlined and
SV-HL-310a.4 Disney works to reduce the stigma related to mental health
strategically aligned to refocus on creativity. Whether
challenges by breaking down barriers to resources and care.
we’re navigating triumphs or challenges, we remain Learn more in our Data & Frameworks
We offer a variety of easy-to-access and innovative programs
committed to supporting and caring for our employees.
for employees, cast members, and their families, including
Various resources were available to guide employees We strive to provide a safe, healthy, and respectful work access to counselors, mindfulness activities, and various
and leaders with care during this transition, including: environment where employees have the support they meditation, stress management, and other self-care apps.
• Our Redeployment Initiative: Employees whose need and the peace of mind they deserve. Our EAP is also available to eligible employees, cast
roles were impacted by the realignment were able to members, and their family/household members, providing
take part in our new redeployment initiative, which Workplace Safety support and connecting participants directly to licensed
connected employees with transferrable skills to network therapists.
The safety of our employees is a top priority in the
internal recruiters and hiring managers. It also decisions we make. Teams—staffed by professionals
included online career workshops, one-on-one
Employee Well-Being
such as medical doctors and nurses, professional
training, and interview prep. engineers, certified industrial hygienists, ergonomists, Disney’s Center for Living Well (CLW) provides
• Development Offerings: New virtual workshops public health and certified food professionals, registered high-quality healthcare and helps our employees, cast
were added to our learning platforms, including sanitarians, microbiologists, and more—help promote a members, and their families stay well and get the care they
those on timely topics such as resilience, safe work environment for our employees. need. Since its opening, the CLW has expanded to now
change management, empathy in leadership, include a pharmacy in Anaheim, California, in addition to
and developing teams. We promote a culture of safety through internal locations in Orlando, Florida and Celebration, Florida that
programs and policies, and our Standards of Business offer preventive care, gynecology, obstetrics, vision services,
• Resources and Guides: A variety of new Conduct provide the process to report safety concerns mental health care, and more. The Center for Living Well is
resources—including helpful guides containing and incidents. Employees can report a safety concern open to active employees, cast members, and covered
talking points, FAQs, overviews, and more—were in a number of ways, including calling our Global Security family members enrolled in eligible medical plans.
provided to leaders to aid them in guiding their Communications Center, an anonymous safety line, or
team through the company’s transformation. by making a report online through our internal system In 2023, Disney was recognized by the nonprofit Business
Employees whose roles were impacted by our called The Guideline. In addition, Safety and Wellness Group on Health with a Best Employers: Excellence in
transformation also received a variety of helpful Committees in certain areas of our businesses can assist Health & Well-Being Award for providing comprehensive
resources to aid them on next steps. We continued employees in sharing or reporting concerns. We also and innovative benefits for our employees, cast members,
to provide resources like our Employee Assistance have global safety appreciation programs to recognize and their families.
Program (EAP) to support emotional well-being. employees for exhibiting outstanding safety behaviors. The same nonprofit also honored Disney with its prestigious
• Communication: An online hub was established 2023 Helen Darling Award for Excellence in Healthcare
where employees could locate resources, trainings, Value and Innovation for our successful disruption of the
and information about our restructuring to traditional fee-for-service healthcare payment model and
supplement communications from and ongoing innovative shift toward value-based care.
access to HR business partners.
25 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW SUPPORTING OUR EMPLOYEES THROUGH CHANGE EMPLOYEE SAFETY, HEALTH & WELL-BEING COMPREHENSIVE TOTAL REWARDS SPOTLIGHT EMPLOYEE ENGAGEMENT & RECOGNITION TALENT DEVELOPMENT

COMPREHENSIVE TOTAL REWARDS

Annual Bonus Plan Employee Benefits

SV-HL-310a.3 Disney’s Annual Bonus Plan is tied to the company’s Disney’s benefits are unique to each region and are
fiscal-year performance and recognizes the contributions designed to meet the varied and evolving needs of our
Learn more in our Data & Frameworks
employees make to business results. Generally, eligibility diverse workforce across businesses and geographies
includes our executives, management, and certain while enabling employees and families to thrive in
To help attract and retain top talent, Disney offers a professional roles. their daily lives. For example, we provide:
competitive total rewards package that includes pay,
health and savings benefits, time-off programs, educational • Healthcare options aimed at improving quality of
Pay Transparency care while limiting out-of-pocket costs
opportunities, and more. Together, these rewards make up
a comprehensive package that empowers our employees We recognize the importance of pay transparency • Family care resources such as childcare and senior
and cast members to live their best lives, grow personally to our employees, shareholders, and others, and are care programs, long-term care coverage, paid family
and professionally, and take advantage of the special extras committed to helping our employees and cast members care leave, and a family-building benefit supporting
that only Disney can provide such as complimentary theme understand our pay practices, which we believe supports options such as fertility treatments and adoptions
park admission, a variety of discounts, and access to our a culture of understanding and trust. • Free mental health and well-being resources
streaming services for eligible employees. • Centers for Living Well in the Orlando area that offer
In 2023, we shared bonus and long-term incentive convenient, on-demand access to board-certified
targets with eligible employees, and we included hiring physicians and counselors
Equitable Pay ranges on U.S. job postings in certain cities and states, • Retirement and savings programs that help employees
Disney is committed to fostering a respectful and equitable as well as remote listings. In support of these efforts, we adapt to changing needs and unexpected events and
workplace culture. As part of that focus, we broadened our expanded our educational resources to include training drive financial security in the present and the future
2023 adjusted pay ration analysis to include data for bonus for U.S. leaders to help them understand the factors that
and long-term incentive awards, in addition to base pay, for influence pay and more easily recognize the value of In 2023, we continued to focus on the employee
eligible U.S. employees based on gender, race, and ethnicity, their overall compensation. experience by: celebrating Global Well-Being Week
controlling for role, experience, and location. Each adjusted pay (first introduced in 2022), a dedicated week for
ratio was 99%+ as of September 2023, across all categories. Investing in Our People Through Education employees around the world to learn and engage in
well-being events and activities; introducing a new
We are committed to reporting the adjusted pay ratio Disney continues to offer education reimbursement personalized online Annual Enrollment benefits
for our U.S. employees annually, and will provide an to salaried employees who are interested in furthering experience; conducting an equity review of U.S. health
unadjusted median analysis of pay (with no accounting their careers through professional and technical and retirement plans; implementing global minimum
for factors such as role, experience, or location) in March education related to their current roles. For eligible standards for international medical, life, and disability
2024. We are also working toward expanding the gender hourly employees, Disney Aspire pays 100% of tuition up plans; and reopening the Hyperion Health Club for
pay ratio analysis to countries outside the United States. front at a network of learning institutions (learn more on LA-area employees, which also provided an opportunity
page 26). And to alleviate the financial burden of higher to donate exercise equipment to the Los Angeles
education, we offer a competitive scholarship opportunity Unified School District and Burbank Community YMCA.
Wages for Hourly Employees
to eligible children of Disney employees who are high
In 2023, almost all hourly full-time and part-time school seniors or the equivalent through our Disney
employees within our U.S. Disney Experiences business Scholars program. Scholarships are awarded based on
earned a base rate of $17/hour or more, and median hourly academic achievement, extracurricular activities,
earnings were $19/hour.† community service, and demonstrated leadership.
† See footnote 40 on p. 72.
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OVERVIEW SUPPORTING OUR EMPLOYEES THROUGH CHANGE EMPLOYEE SAFETY, HEALTH & WELL-BEING COMPREHENSIVE TOTAL REWARDS SPOTLIGHT EMPLOYEE ENGAGEMENT & RECOGNITION TALENT DEVELOPMENT

SPOTLIGHT

INVESTING IN OUR EMPLOYEES’ FUTURES DISNEY ASPIRE PARTICIPANTS I started my career as a Merchandise
Hostess in EPCOT’s beautiful World
Showcase and loved every second of it.
Flash forward eight years to present day,
15,000+
I am proud to say I am now a Recruiter
with Walt Disney World Resort’s Casting
Services Center and a Disney Aspire
Employees enrolled as of graduate! Disney Aspire provided me the
the end of fiscal 2023 opportunity to go back to school and earn
my Master of Science degree in Human
Resources and Strategic Management.
Disney Aspire—our education investment and career Disney Aspire also hosted career events and workshops I use the tools I learned during my program
development program—pays 100% of tuition up front on professional development skills including networking, every single day in my role with Casting.
at network schools and is available to more than 95,000 resume writing, and interviewing. ~3,600
eligible hourly full-time and part-time employees and I am so lucky to be doing the job I always
cast members in the United States. The program Disney Aspire Advocate Program dreamed of since my very first day with
celebrated its fifth anniversary in 2023 and continues to
evolve to meet the dynamic needs of our diverse A major goal of Disney Aspire is to provide participants Walt Disney World Resort and I have
employee base and the ever-evolving job landscape. with the support they need to succeed in their program Disney Aspire to thank!
and beyond. The Disney Aspire Advocate program brings Past and present Disney
Disney Aspire continues to set the standard for together program graduates from across the company Aspire participants
internally promoted as of Jeanine Carr
employer-funded education programs. We publish who have experienced internal career mobility. Advocates
the end of fiscal 2023 Disney Aspire Graduate and
graduate and mobility data, and we invest in our help spread the word, showcase Disney Aspire’s impact,
Walt Disney World Resort Cast Member
employees well beyond graduation. and provide guidance to those exploring enrollment or
currently enrolled in the program.
Career Advisors and Events
Disney Aspire continues to prioritize career mobility Disney Aspire Atrium
by providing the tools, resources, and experiences our The Disney Aspire Atrium, an internal digital hub for
employees need to succeed in the workforce. In fiscal events, news, and resources for Disney Aspire participants,
2023, Disney Aspire Career Advisors continued to meet launched in 2023. The Atrium is a place for prospective
both one-on-one and in group settings with students and current students and alumni to share stories and
and graduates to help them more confidently navigate access resources designed to aid them in their educational
their career journeys, whether at Disney or beyond. and career journeys.
27 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW SUPPORTING OUR EMPLOYEES THROUGH CHANGE EMPLOYEE SAFETY, HEALTH & WELL-BEING COMPREHENSIVE TOTAL REWARDS SPOTLIGHT EMPLOYEE ENGAGEMENT & RECOGNITION TALENT DEVELOPMENT

EMPLOYEE ENGAGEMENT & RECOGNITION

Connecting employees to our brand and vision enables
us to drive an exceptional employee experience. We
are committed to hearing from employees across the
enterprise and we actively listen to and learn from
them, share their stories, and incorporate their ideas
and feedback into our activities, policies, and processes.
Results from employee engagement activities are
regularly shared with senior leadership and the Board
and are used to inform initiatives to enhance the
employee experience and employee well-being. In fiscal
2023, employees from a variety of businesses across
the enterprise were surveyed at different points in time,
providing an opportunity to contribute their thoughts
and opinions. We continue to evolve our approach to
gathering employee input effectively and meaningfully.
BURNY MATTINSON RECEIVES 70-YEAR
Celebrating and Uplifting Our Employees MILESTONE SERVICE AWARD
SERVICE CELEBRATIONS RECOGNIZING EACH OTHER DISNEY ENVIRONMENTAL CHAMPION AWARD After graduating high school, Burnett
Disney is steeped in long-standing traditions, one of Outstanding work by our employees is recognized in We started our Disney Environmental Champion Award “Burny” Mattinson handed his portfolio
which includes recognizing employees, cast members, several ways. RecognizeNow! is a worldwide digital in 2015 as a way to recognize environmentally minded to a Disney security guard. Impressed,
crew members, and Imagineers for their years of service platform for our employees that enables them to send cast members, crew members, Disney Imagineers, the guard called the head of personnel,
with Service Celebration events. These celebrations are notes of appreciation, recognition, and gratitude quickly and other Disney employees. This awards program who immediately hired him for his first
held around the globe throughout the year to recognize and easily to one another. We also offer CelebrateNow!, recognizes outstanding recipients (individuals or teams) job, beginning in the mailroom.
those who have reached milestone anniversaries. a similar platform that enables our employees to at each Disney Experiences site, and selection criteria are Burny quickly caught the attention of
Whether taking place in a theme park or another celebrate life’s most important moments with one based on delivering measurable results toward our animators and he soon became an
special venue, these uniquely Disney experiences create another by sending an array of e-cards for milestones environmental goals. Award recipients receive a trophy Assistant Animator on Sleeping Beauty
an unforgettable night celebrating our employees while such as holidays, birthdays, anniversaries, and more. In made from sustainable materials, and a grant of $2,500 (1959), where he worked on the character
making them feel appreciated, recognized, and valued. 2023, a million combined notes of appreciation and is made to a nonprofit conservation organization on Maleficent. From there, he worked on
e-cards were sent through these two platforms. behalf of the winners through the Disney Conservation more than 40 different projects as a
Fund. For example, the Avengers Campus Food and storyboard artist, animator, film director,
In addition, the Cast Compliment feature in the My
Beverage team won the 2023 Disneyland Resort and producer at Walt Disney Animation
Disney Experience and Disneyland Resort mobile apps
Environmental Team of the Year award for implementing Studios until his final project in 2023.
invites guests visiting Walt Disney World Resort and
the option for guests to use reusable utensils. Burny was set to receive recognition for
Disneyland Resort to submit a digital recognition to cast
members who made their visit memorable. In 2023, over his 70 years of service at Disney, but sadly
800,000 employee compliments were shared by guests. passed away before the ceremony. His
family was presented with a one-of-a-kind
service award in his honor.
28 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW SUPPORTING OUR EMPLOYEES THROUGH CHANGE EMPLOYEE SAFETY, HEALTH & WELL-BEING COMPREHENSIVE TOTAL REWARDS SPOTLIGHT EMPLOYEE ENGAGEMENT & RECOGNITION TALENT DEVELOPMENT

TALENT DEVELOPMENT

Employee Learning Platforms EMPLOYEE LEARNING Leadership Development

THROUGH TOP PLATFORMS
We support the growth and development of our Disney IGNITE is a virtual learning experience for
employees and cast members through online and senior managers, directors, and vice presidents,
Learn more in our Data & Frameworks
in-person learning platforms. Our programs are designed designed to empower participants to lead with care
to support our people both personally and professionally, and a people-first mindset. Leaders in the Asia Pacific
We are committed to the ongoing development of our regardless of where they are in their careers. (APAC) region and India participated in IGNITE in
workforce, offering an array of learning and development ~1.7M 2023, and IGNITE alumni events were held to share
opportunities that enable our employees to make the D LEARN challenges, ideas, and experiences.
most of their careers at Disney, regardless of their
D Learn is the primary digital learning platform for Newly hired and promoted senior managers,
unique aspirations.
Disney employees around the globe, where they can directors, and vice presidents are also now offered
complete both required training (e.g., Standards of Times self-directed offerings a six-month personalized executive coaching
Onboarding New Talent Business Conduct) and optional learning opportunities. were consumed through engagement through BetterUp.
U.S.-based new hires attend Disney Beginnings, a virtual Offerings include self-directed and instructor-led D Learn, Harvard Spark, Harvard
and live orientation experience that focuses on our training, as well as in-person courses. Additionally, we have continued our Disney Leadership
ManageMentor, and Harvard
history and mission, strategic priorities, global structure, Essentials (DLE) experience. DLE helps entry-level
Through the D Learn platform, employees also have Leading Edge in fiscal 2023
and brand stewardship. In 2023, we expanded the leaders better coach and develop their teams. In 2023,
access to learning platforms such as Harvard Spark leaders across the U.S., EMEA, APAC, India, and the
program to provide customizable onboarding for new
and Harvard ManageMentor, with content and Latin America regions completed the virtual course,
hires in Canada and the Europe, Middle East & Africa
experiences tailored to each employee’s unique with 99% of participants stating that they took action
(EMEA) region. Following Disney Beginnings, new hires
interests and preferences. as a result of what they learned in DLE. These reported
attend the Disney Beginnings Expo, an onboarding
event to connect them with the extensive benefits, actions included approaching new challenges with a
resources, and only-at-Disney perks available to them. growth mindset, adjusting their leadership style to best
~430K support their direct reports, and delegating tasks or
This includes information on our wellness benefits,
commuter assistance program, Disney VoluntEARS, projects for a direct report’s development. After
Business Employee Resource Groups, complimentary completing DLE, a participant said, “Thank you for
theme park admission, and more. Some segments also continuing to discuss the hard issues facing leaders
provide business-specific orientation, such as Disney and for allowing us to have a space to meet and work
Times instructor-led
Experience’s Traditions for cast members, crew members, with our peers across the company.”
offerings were taken through
and Disney Imagineers. D Learn in fiscal 2023 We continued our mentoring programs as well, seeing
a 23% increase in enrollment and a 63% increase in
mentoring hours from fiscal 2022 numbers.
29 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Diversity,
Equity &
Inclusion
We foster a culture of belonging
that enables our workforce to deliver
stories, experiences, and products
that reflect, and resonate with,
global audiences

In This Section

30 OVERVIEW
31 PEOPLE
33 CULTURE
34 CONTENT
37 SPOTLIGHT: MICKEY’S TOONTOWN
AT DISNEYLAND RESORT REIMAGINED
WITH ACCESSIBILITY IN MIND
38 COMMUNITY
39 TRANSPARENCY & ACCOUNTABILITY
Released in 2023, the live-action
The Little Mermaid reimagines the
beloved story of Ariel, a curious
mermaid who longs to experience
life on land and finds herself on an
unexpected journey of self-discovery.
Now available on Disney+
30 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

OVERVIEW
Disney has a long legacy of creating authentic Across Disney, we recognize
and unforgettable stories, characters, experiences,
and products that capture the imagination of that a culture of inclusivity and
global audiences. belonging—where all voices are
We are committed to attracting, retaining, and heard and where individuals from all
developing a workforce that reflects the world’s rich backgrounds have opportunities to
diversity of experiences, backgrounds, and perspectives.
This is important to our business and our mission of thrive—fosters an environment where
entertaining and inspiring families from all walks of life. innovation flourishes because of our
Disney has also prided itself on our ability to make a
positive contribution to communities across the United collective strengths. This enables
States and around the world. We recognize we cannot Disney to optimally entertain and
achieve this without fostering a culture of inclusivity and
belonging. To that end, we have long been focused on
create products, experiences, and
creating a welcoming and respectful workplace for our stories that reflect, and resonate with,
employees, providing unparalleled entertainment people around the world.
experiences, and collaborating with community
organizations to make our industry more accessible,
Tinisha Agramonte
especially for the next generation of storytellers. These
Senior Vice President and
efforts are described in the following sections reflecting
Chief Diversity Officer,
our diversity, equity, and inclusion focus areas:
The Walt Disney Company

PEOPLE CULTURE

CONTENT COMMUNITY

TRANSPARENCY & ACCOUNTABILITY

31 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

PEOPLE

SV-ME-260a.1

Learn more in our Data & Frameworks

Our Objective

To engage, develop, and retain a

diverse leadership and workforce that
reflects the experiences of our customers
and guests, who come from every community
across the country and around the world

We believe that when our workforce reflects the Amplifying Diverse Tech Talent Elevating Our Everyday Heroes
rich diversity of guests and customers, we can better and
In 2023, Disney Entertainment and ESPN Technology We have a long track record of respect and In addition, the continued success of the Disney Military
more authentically serve our audience. As an equal
hosted its third cohort of CODE:Rosie, an in-house appreciation for the U.S. Armed Services. We recognize Fellowship program, in collaboration with the U.S.
opportunity employer, applicants are considered for
development program that aims to amplify gender the commitment and dedication of military service Chamber of Commerce Hiring Our Heroes Corporate
employment without regard to race, color, religion, sex,
diversity in technology, providing women at Disney and value the critical thinking, collaboration, and Fellowship Program, supported 62 fellows and led to
national origin, sexual orientation, gender identity, disability,
the opportunity to develop skills and explore career leadership skills the military instills. We are honored 31 hires since the inception of the program in 2016.
protected veteran status, or other protected categories.
development opportunities. Through our collaboration to support active U.S. military, veterans, and their
Disney also launched its participation with the
We take a meaningful and measurable approach to with Out in Tech, we also support opportunities for families in many ways across our company.
Department of Defense Military Spouse Employment
expanding our pipeline of talent and strive to follow LGBTQIA+ tech leaders to advance their careers. And
For example, through our Heroes Work Here Partnership in 2023, connecting people to employers
industry best practices, including marketing roles on in fiscal 2023, Disney also participated in AfroTech,
program, we have hired more than 13,000 veterans committed to hiring and retaining military spouses.
platforms that reach potential candidates from a wide range a gathering of Black and African American technologists
through the end of fiscal 2023. Launched in 2012,
of sources. We offer optional training to support leaders in and prospective talent.
the innovative program is committed to hiring, training,
identifying, attracting, and engaging a multifaceted talent
and providing transitionary resources to U.S. military
pool. And we foster accessible workplaces and strive to
veterans and military spouses while elevating awareness
recruit, train, and integrate employees with disabilities
of their significant contributions as civilian employees.
in alignment with industry best practices. To attract and
retain talent across the company, we also invest in talent
development programs across the enterprise, including
initiatives such as the Black Talent Network, Heroes Work
Here, Women’s Talent Network, and Disney Aspire.
We are proud of the progress we have made to date in creating
a truly representative team at all levels of the company.
32 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

Expanding Reach to Broader Communities

Disney relies on partnerships with various academic Disney was honored to host another Out & Equal Alongside the release of Black Panther: Wakanda
institutions to enhance development opportunities for Workplace Summit to support LGBTQIA+ workplace Forever, Disney launched an apprenticeship program
students and enable a diverse talent pipeline. The equity. This year’s summit brought together influential in collaboration with our Black Business Employee
students at our partner institutions, as a whole, reflect thought leaders, global subject matter experts, Fortune Resource Group from Brazil, Coletivo T’Challa. The
the diversity of experience we seek in our leadership 500 executives, and more. program is designed to further expand access to
and workforce. employment opportunities, foster diverse leadership,
and increase awareness of Disney as an employer.
For example, Disney on the Yard helps to build a
long-term pipeline of Black talent, expand access
to opportunities for students from Historically Black Learn more:
Colleges and Universities (HBCUs) within the
entertainment industry, and build a community for Investing in Our People
HBCU alumni across the company. Through its
Innovation Challenge, students pitch their innovative
ideas, receive mentorship, and can win scholarships
(shown above). In 2023, Walt Disney World Resort
hosted the HBCU Week Foundation’s largest HBCU
Week event to date, with thousands of high school
students attending, as well as HBCU representatives
and corporate sponsors.
33 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

CULTURE

Learn more in our Data & Frameworks

Our Objective

To create a culture of inclusivity

and belonging

Across Disney, we encourage curiosity, collaboration,

and creativity from everyone. We strive to build
supportive environments that inspire optimism and
drive innovation, and we work to create a culture that Employee-Led Groups Heritage & Identity Celebrations Elevating Disability & Accessibility
is inclusive and respectful of all.
In fiscal 2023, Disney supported employee affinity We continued to expand our celebration of affinity We celebrated Disability Pride Month through internal
groups and more than 100 Business Employee Resource months and cultural moments. For example, during events that addressed topics such as deaf storytelling,
Groups, through which employees can network with Black History Month, we launched the Buy Black innovative captioning, and anxiety in the workplace, as
peers, participate in outreach and mentorship Challenge to increase awareness of opportunities to well as through external stories. For example, National
opportunities, and build new skills and leadership address the underinvestment in Black-owned businesses. Geographic’s Home in the Wild featured Wesley Baird,
capabilities to help develop their careers. In Asian American and Pacific Islander Heritage Month, a 4-year-old who lives with FOXG1 Syndrome, a rare and
we organized a series of events and panels, including debilitating neurological and developmental disorder.
a signature panel with Asian American and Pacific And an ABC News Nightline segment highlighted the
Islander leaders, to provide immersive experiences importance of American Sign Language (shown above).
for our guests and cast members. In May 2023, we
honored Hispanic and Latino storytelling with a special
event on Capitol Hill (shown above), in collaboration
with the Hispanic Heritage Foundation. The celebration
was marked by bipartisan participation. And Pride
Month was commemorated with Disneyland After
Dark’s inaugural Pride Nite, a celebration of the
LGBTQIA+ community and allies, featuring themed
entertainment, Disney characters, unique photo
opportunities, specialty menu items, and exclusive
event merchandise.
34 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

CONTENT

Content Reflecting the World Around Us

We collaborate with the world’s best filmmakers and
creative talent to engage individuals, families, and
Learn more in our Data & Frameworks
communities with compelling, authentic, and accessible
content that captivates families around the world.
As the world’s premier entertainment company,
Disney champions storytelling that reflects the world Across the film and television industry, studios and
around us and helps develop meaningful connections organizations like the British Film Institute and the
with our audience. Academy of Motion Picture Arts and Sciences have
adopted policies, practices, and standards to broaden access
and representation. We have and are continuing to develop
guidelines that address these evolving industry practices.

While there are countless examples of content that reflects

the diversity of the world around us, some well-known,
recent projects include:
• Marvel’s Black Panther: Wakanda Forever
now streaming on Disney+
• Marvel’s Moon Girl and Devil Dinosaur on Disney+
• Searchlight’s Flamin’ Hot on Disney+ and Hulu
• Disney Live Action’s The Little Mermaid
now streaming on Disney+
• ABC Signature and National Geographic’s
A Small Light on Disney+
• Lucasfilm’s Ahsoka on Disney+
• Disney and Pixar’s Elemental now streaming on Disney+
• Onyx Collective’s Unprisoned on Hulu
• 20th Television and Hulu’s Only Murders in the Building
• Disney Junior’s Pupstruction on Disney+
• Disney Experiences’ Tiana’s Palace
• ESPN’s E60: The Survivor
35 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

Expanding Access to Opportunities Behind the Camera

Disney Entertainment’s Creative Talent Development & Disney Launchpad: Shorts Incubator serves as an entry Star Imagine UK, a new short film incubator program that Disney’s support of Exceptional Minds continued in
Inclusion team provides access to opportunities to point for emerging filmmakers with underrepresented Disney supports in collaboration with The National Film fiscal 2023. The funding enabled Exceptional Minds to
emerging talent from underrepresented communities backgrounds, including writers and directors. Six and Television School, grants teams from underrepresented continue to implement an innovative curriculum that
through professional development programs for directors, shorts premiered on Disney+ and were screened at backgrounds £25,000 to develop their uniquely personal teaches young, neurodivergent adults the technical and
writers, production assistants, crew members, and more. Oscar-qualifying film festivals across North America, stories. The Film Independent Imaginar Producers professional skills needed for post-production careers in
winning two awards. Seasons 1 and 2 were both Residency is another new program made possible by animation, visual effects, 3D gaming, and related fields.
nominated for NAACP Image Awards. Disney and Searchlight Pictures in collaboration with the
National Association of Latino Independent Producers.
The residency supports Hispanic and Latino independent
producers with a $50,000 grant, professional coaching,
mentorship, project development support from industry
professionals, and access to creative workplaces.
36 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

Accessible Content Accessible Experiences & Products

We are committed to increasing the accessibility of We want guests to have the opportunity to enjoy our A relaxed performance of Disney 100 in Concert was held
our content for our audiences. We offer a range of magical experiences and performances and to create at Teatro Colón in Argentina, providing an inclusive
tools and accessibility features across our streaming memories that last a lifetime. Our theme parks offer environment to be enjoyed by our guests—including
platforms and networks, and other platforms where guests with disabilities various tools and service options. guests who are neurodivergent, sensory hypersensitive,
our content is shared. Features vary by platform and These include audio descriptions and Braille, tactile, and and/or experience social communication challenges.
may include tools such as audio descriptions, closed large-print maps and guides for guests with visual or
captioning, keyboard navigation, and interoperability cognitive disabilities; assistive listening, captioning, and In addition, Disney on Ice: 100 Years of Wonder offered a
with popular screen readers. sign language interpretation at select shows for guests; relaxation and regulation area with sensory kits available
and more. Each park shares accessibility information on for guests, including those who are neurodivergent and/or
The Disney+ series Obi-Wan Kenobi was awarded sensory hypersensitive.
their site-specific website.
the Audio Description People’s Choice Award at the
American Council of the Blind’s (ACB) annual Audio As examples of our efforts, through its MagicALL Disney Consumer Products also strives to offer products
Description Awards Gala in November 2022. That was accessibility program, Shanghai Disney Resort strives and experiences that can be enjoyed by people with a
the first year that the ACB introduced the People’s to provide accessible infrastructure and services for variety of needs, including sensory-friendly costumes,
Choice Award, which celebrates the inclusion of audio guests and employees and serves as a showcase for adaptive costumes, and adaptive wraps that transform
description in all forms of media entertainment. the broader community. The program has been credited wheelchairs with Disney theming.
by both the Shanghai and national-level legislatures for
Working with KultureCity, a nonprofit organization
influencing both the city’s and then the country’s first
creating inclusive and safe spaces for those with
accessibility legislation, both enacted in 2023. The
invisible disabilities, we have created an approach
resort continues to enhance its accessibility program,
for sensory-inclusive movie screenings. These include
and recently became the first tourism destination in
trained staff, expedited check-in, reduced seating
China to begin leveraging assistive technologies on
capacity, dimmed lighting, lowered sound, and sensory
its owned social and web-based media platforms to
bags with items like noise-canceling headphones.
enhance the user experience for persons who may
Since piloting this program in the summer of 2022,
require additional support, including registering,
theatrical releases at the El Capitan Theater in
logging in, and navigating key information pages
Los Angeles (shown left) have offered at least one
and content.
sensory-inclusive screening during their theatrical run.
Additionally, in 2023, Hong Kong Disneyland’s
In Argentina, we offered relaxed screenings of Disney’s
Halloween theater musical show, Let’s Get Wicked!, fully
The Little Mermaid and Disney and Pixar’s Elemental,
integrated sign language into the body movements of
providing a welcoming and inclusive environment for
performers, who were trained by the Arts With the
our guests, including those who are neurodivergent,
Disabled Association Hong Kong.
Deaf, or hearing-impaired.
And a reimagined Mickey’s Toontown at Disneyland
Resort opened with accessibility in mind for families
and visitors of all abilities. Read more in our spotlight
on page 37.
37 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

SPOTLIGHT

MICKEY’S TOONTOWN AT DISNEYLAND RESORT REIMAGINED WITH ACCESSIBILITY IN MIND

The day Disneyland Park opened in 1955, Walt Disney

shared his vision for a playful, creative environment that
would continue to grow and evolve. “Disneyland will
never be completed,” he said, “as long as there is
imagination left in the world.”
In keeping with this idea, in 2023, the team reopened
Mickey’s Toontown at Disneyland Park in Anaheim,
California, reimagined with accessibility in mind.
The newly redesigned land features physical changes
to make it easier for those with mobility challenges to
navigate the space, as well as expanded Disability
representation in the land’s approachable sensory and
interactive elements, and storytelling that celebrates our
differing abilities.
“Reinvigorating Mickey’s Toontown gave us a chance
to dream big on behalf of our youngest guests,” said Ryan
Wineinger-Schattl, Senior Creative Director at Walt Disney
Imagineering. “The most important thing we could give
children and families is an inspiring place to play.”
Welcoming the Disability Community Designing a New Attraction Enhancing the Physical Space
When Walt Disney Imagineering began planning The desire to make the Mickey & Minnie’s Runaway Creating a more accessible play experience was top
Mickey’s Toontown redesign, they sought input from Railway experience inclusive for guests with various types of mind for Disney Imagineers. The physical changes
cast members with disabilities, welcoming their ideas of disabilities was purposeful. Guests can enjoy an audio to Mickey’s Toontown at Disneyland Resort included
to create many opportunities to play. They also talked description of the highly themed queue, a dedicated removing nearly all curbs, adding new sensory
with the Disneyland Resort Accessibility team and cast guest with disabilities load and unload station to allow for experiences at Goofy’s How-to-Play Yard, incorporating
members in ENABLED, a Disney Business Employee extra time, and services during the attraction, including Braille into the tree roots at CenTOONial Park, and
Resource Group that promotes respect, equality, and handheld captions and audio description. creating open green areas to allow children to play in
appreciation of People with Disabilities. the grass or unwind on the lawn.
38 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

COMMUNITY

Learn more in our Data & Frameworks

$145M+

Our Objective Our Objective

To spend at least $1 billion To direct more than 50% of our

annually with diverse suppliers annual charitable giving to programs
by the end of fiscal 2024† serving underrepresented communities†† ~62%

Supplier Diversity Through financial contributions, collaboration with

nonprofit organizations, and in-kind donations, Disney
We believe that including diverse suppliers in our
brings positive, meaningful, and measurable impact to Of total charitable giving was
sourcing process provides a meaningful opportunity
our communities around the world. Guided by our invested in programs that serve
to seek innovative and high-quality business solutions,
Charitable Giving Guidelines, we focus on investments underrepresented communities
while also supporting jobs.
that align to our sustainability and social impact focus
In fiscal 2023, we achieved our goal—a year early— areas; leverage our unique resources, skills, talents, and
to spend $1 billion annually with diverse suppliers. expertise; and address pressing community needs.
We will continue to grow our diverse supplier spend, This helps advance authentic representation in media
include diverse suppliers in our supply chain, and and entertainment; drive economic opportunity, access, Access additional information
have an economic impact. and equity in the communities in which we operate; on our philanthropy:
create inclusive and respectful entertainment
Charitable
experiences; and empower future generations of Giving Approach
Learn more in our Supply Chain section: storytellers and innovators.
Charitable Giving
Supply Chain In fiscal 2023, more than $145 million (~62%) of our
total charitable giving of more than $235 million was Social Impact
directed to programs that support Asian American
and Pacific Islander, Black and African American,
Hispanic and Latino, Native American and Indigenous,
multicultural, women, veterans, People with Disabilities, Participant from Special
and LGBTQIA+ communities. Olympics Jamaica won gold for
the 50m dash at the 2023 Special
† See footnote 51 on p. 72. Olympics World Games in Berlin
†† See footnote 33 on p. 72.
39 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW PEOPLE CULTURE CONTENT SPOTLIGHT COMMUNITY TRANSPARENCY & ACCOUNTABILITY

COMMUNITY (continued) TRANSPARENCY & ACCOUNTABILITY

Building the Next Generation of Leaders

In 2023, Disney Australia & New Zealand helped SV-ME-260a.1; TC-IM-330a.3; SV-HL-310a.4
expand the next generation of leaders through MINUS
Learn more in our Data & Frameworks
18’s Young Leaders Program. The program is designed
to build the skills, confidence, and social connection of
LGBTQIA+ youth by increasing their work readiness Across Disney, we strive to build supportive work
and connection to future job opportunities. environments that drive innovation and reinforce a
culture in which all employees feel welcome, respected,
And in the U.S. and Europe we continued our support and valued. Transparency and accountability are an
for Public Policy New Voices, which connects, supports, important part of this commitment, and in 2022,
and empowers a new generation of leaders in public the company launched a new Pay Ratio Disclosure
policy. Conceived and launched by Disney in 2021, this dashboard. In the United States in fiscal 2023, the
dynamic yearlong fellowship program provides company reported 99%+ adjusted pay ratios across
participants with opportunities to build their capacity gender, race, and ethnicity. More information is available
through virtual and in-person meetings, peer learning, in our 2023 Pay Ratio Dashboard, Workforce
mentorship, networking, and internship opportunities. Representation Dashboard, Content Representation
CELEBRATING WITH OUR COMMUNITIES world’s first gallery dedicated Dashboard, and 2022 EEO-1 report.
Celebrating Neurodivergent Talent As part of our Disney Future Storytellers to technicians. Disney’s financial
Disney UK & Ireland joined with Bridge06, Hot Coals commitment, we celebrated the theatrical release support also enabled students from
underrepresented local communities Learn more:
Productions, and ITV for ABOUT TIME!, an event of Marvel Studios’ Black Panther: Wakanda
celebrating deaf, disabled, and neurodivergent talent Forever with $1 million in grants to visit the Technicians Gallery. Investing in Our People
at BAFTA. ABOUT TIME! challenged the lack of to nonprofits in our communities working • Supporting Chicas en Tecnología’s Potencia tu
representation and opportunity for talented actors to reduce the gender gap in technology Futuro (“Power your future”), which offered
with disabilities working in British creative industries and encourage underrepresented youth to young women aged 16 to 21 scholarships in
and asked attendees to commit to take action toward pursue creative and technological careers. These full-stack programming, inviting them to be Our Chief Diversity Officer leads the company’s strategic
systemic change within the industry. included: part of the next generation of women in diversity, equity, and inclusion initiatives in collaboration
technology. with businesses and leaders across the company, and
• Working with Women Who Code for a live transparency and accountability help us build trust with
panel Q&A with female creatives from • Launching scholarships for 100 young Black our stakeholders and encourage continued progress.
Industrial Light & Magic’s Sydney team to and Indigenous Brazilian teens through the
inspire youth to pursue careers in the arts, nonprofit Pretalab. All U.S.-based employees are covered by our Equal
media, and technology. Employment Opportunity Policy, Prohibition of
Harassment Policy, and our Speak Up Policy, which
• Marvel Studios supporting the development of
Learn more about Disney Future Storytellers: encourages employees who observe or suspect
Technicians: The David Sainsbury Gallery at the
misconduct to speak up to provide the company with the
Science Museum in London. This free, Social Impact
opportunity to address the issue. Employees outside the
interactive gallery for 11- to 16-year-olds is the
U.S. are covered by policies reflecting these principles
but tailored to their specific region.
40 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Environmental
Sustainability
We take meaningful and measurable
action to support a healthier planet
for people and wildlife

In This Section

41 OVERVIEW
42 EMISSIONS
46 WATER
47 WASTE
48 MATERIALS
48 SUSTAINABLE DESIGN
50 NATURE
53 SPOTLIGHT: DISNEY’S ANIMAL
KINGDOM CELEBRATES 25 YEARS OF
CONSERVATION AND INSPIRATION

Tree of Life at Disney’s Animal Kingdom

41 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

OVERVIEW
Disney is committed to taking meaningful and measurable Environmental Collaborations & Memberships
action to support a healthier planet for people and
wildlife. We are focused on putting possibility into practice
and inspiring optimism for a brighter, cleaner, and more
environmentally sustainable future, a commitment we
call Disney Planet Possible. Learn more in our Data & Frameworks

Our commitment to environmental sustainability goes

We participate in several initiatives and
back to our company’s founding. As Walt Disney himself
organizations to support actions consistent
said, “Conservation isn’t just the business of a few people;
with the Paris Climate Agreement and other
it’s a matter that concerns all of us.” Our environmental
environmental and conservation ambitions.
commitments, summarized in this report and detailed in
These groups include, but are not limited to:
our 2030 Environmental Goals White Paper†, represent
some of the ways we are helping to build on that legacy. • Association of Zoos and Aquariums
Our Environmental Sustainability function oversees • Business Alliance to Scale Climate Solutions
progress toward our 2030 environmental goals and • Business for Social Responsibility
our nature-related work and reports to our Global Public • Ceres Company Network
Policy function. Our Board’s Governance and Nominating
Committee has formal oversight of environmental, social, • Clean Energy Buyers Association
and governance programs and reporting, including with • Conservation Measures Partnership
respect to environmental and sustainability policies and • Corporate Eco Forum
initiatives related to climate change impacts. Leadership
• Cruise Lines International Association
provides updates on these and other ESG topics to the
committee at least annually. • DIMPACT
• International Union for Conservation
of Nature
• Monterey Bay Aquarium Seafood Watch
• Sustainable Aviation Buyers Alliance
• Sustainable Fisheries Partnerships
• Sustainable Packaging Coalition
• Sustainable Production Alliance
• Textile Exchange
• U.S. Green Building Council
• World Association of Zoos and Aquariums
Journey of Water, Inspired
† Our target date for achieving environmental goals is by the end of the • World Resources Instituteʼs Corporate by Moana at EPCOT
applicable fiscal year. Our environmental goal-setting process adapts to Consultative Group and Aqueduct Alliance
changes in our businesses and in relevant protocols that we follow.
42 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

EMISSIONS

Disney has had a long-term goal to achieve net zero Net Zero Emissions for Direct Operations
greenhouse gas (GHG) emissions from our direct
TR-CL-110a.2 We are working to reduce emissions from direct
operations (Scope 1 and 2) since 2009, and we remain
operations through a reduction hierarchy that includes:
Learn more in our Data & Frameworks committed to this ambition. In alignment with the
designing our built environment to reduce or avoid
Intergovernmental Panel on Climate Change and the
emissions; promoting energy efficiency in our buildings
Paris Climate Agreement, we have now also set
and fuel efficiency for ships and fleet vehicles; replacing
quantitative and timebound absolute reduction goals for
2030 Emissions Goals† carbon intensive fuel sources with lower carbon
emissions from our direct operations (Scope 1 and 2),
alternatives; electrifying buildings and transportation;
and absolute reduction and supplier and licensee
and expanding our use of renewable electricity. To reach
engagement goals for emissions from our value chain
net zero, we will also invest in high-quality carbon
EMISSIONS FROM OUR DIRECT (Scope 3). In calendar 2023, these goals were validated
OPERATIONS (SCOPE 1 & 2) credits that help us address the emissions gap remaining
by the Science Based Targets Initiative (SBTi).
after we have pursued the above-mentioned levers.
• Reduce absolute emissions from direct Emissions from our direct operations come primarily
operations (Scope 1 & 2) by 46.2%, against
from energy use in our parks and resorts, major
a fiscal 2019 baseline
corporate campuses, and from fuel used by our cruise
• Achieve net zero emissions for direct operations††
ships. Emissions in our value chain come from a wide
• Purchase or produce 100% zero carbon electricity range of sources, including manufacturing of consumer
• Invest in natural climate solutions products, production of media content, and food and
beverage operations.
EMISSIONS FROM OUR VALUE CHAIN (SCOPE 3)
Like most companies setting aspirational Scope 3
• Reduce Scope 3 emissions through absolute targets, these are challenging goals, and success
reduction and supplier and licensee engagement: depends on several external factors. These include
– Reduce absolute Scope 3 GHG emissions from
actions by our suppliers to reduce their emissions, global
purchased goods and services, capital goods, fuel- and economy-wide transitions to cleaner fuels, availability of
energy-related activities, upstream transportation and economically feasible solutions at scale, and consumer
distribution, waste generated in operations, business behavioral changes. Industry collaboration is key to
travel, employee commuting, and franchises, by a addressing some of these challenges.
minimum of 27.5% against a fiscal 2019 baseline
– Commit that 20% of our suppliers, measured by
emissions covering purchased goods and services, will
have science-based targets by 2027
– Commit that 72% of our licensees, measured by
emissions covering franchises, will have science-based
† Our environmental goal-setting process adapts to changes in our businesses
targets by 2027
and in relevant protocols that we follow. For emissions, we measure actual
emissions and forecast future emissions based on information available on
our business plans, secular changes, projects, process changes, and other
factors. We expect to follow SBTi methodology recommendations that
companies check the validity of their target projections annually, and at a
minimum, reassess targets every five years.
†† See footnote 6 on p. 71.
43 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

Pathway to Net Zero Emissions for Direct Operations (Scope 1 & 2)

SCIENCE BASED TARGETS INITIATIVE (SBTI) TARGET OF 46.2%

ABSOLUTE REDUCTION† FOR DIRECT OPERATIONS (SCOPE 1 & 2)
BY 2030 EXPECTED TO BE ACHIEVED THROUGH FIVE KEY LEVERS:

We set a goal for newly approved projects to be 2030 Targets

DESIGNING
designed to “near net zero” emissions and have
1.81M Baseline SUSTAINABLY
established a detailed Sustainable Design standard
1.81M
1.72M
SBTi Target Disney Target
1.58M We continue to explore the use of energy
PURSUING
efficient technologies for our buildings
46.2%† Net Zero††
ENERGY Absolute To be achieved
and attractions and fuel efficiency
EFFICIENCY reduction through high-quality
measures for our vehicles and cruise ships
Scope 1 & 2 Emissions (Market-Based), MT CO2e

Carbon Credits
1.30M

1.19M

We continue to explore the use of

USING LOWER
lower carbon fuels for cruise ships,
973K SBTi Target CARBON FUELS
vehicles, and mobile generators
973K

We continue to explore the use of battery

ACTIVELY electric generators for our film productions,
ELECTRIFYING electric vehicles for our fleets, and electric
kitchens in our buildings and cruise ships

We continue to grow our portfolio of on-site

EXPANDING
renewable electricity projects and pursue 0
Disney Net Zero Target RENEWABLE
utility green power programs and direct and
ELECTRICITY
Fiscal 2019 2020 2021 2022 2023 virtual power purchase agreements 2030
Year

† Our environmental goal setting process adapts to changes in our businesses and in relevant protocols that we follow. For emissions, we measure actual emissions and forecast
future emissions based on information available on our business plans, secular changes, projects, process changes, and other factors. We expect to follow SBTi methodology
recommendations that companies check the validity of their target projections annually, and at a minimum, reassess targets every five years.
†† See footnote 6 on p. 71.
44 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

Examples of Using Our Five Key Levers to Work Toward Our 2030 Emissions Target for Direct Operations (Scope 1 & 2)

DESIGNING SUSTAINABLY ACROSS PURSUING ENERGY EFFICIENCY INVESTING IN NEW FUELS ELECTRIFYING GENERATORS IN EXPANDING OUR RENEWABLE ELECTRICITY
OUR BUILDING PORTFOLIO AT DISNEY PARKS AND RESORTS OUR FILM & TV PRODUCTIONS PORTFOLIO AROUND THE WORLD
To power its fleet, Disney Cruise Line is
For new developments, we embed In addition to site-specific investments investing in alternative fuels like liquefied Our film and television productions are We continue to research, invest in, and
sustainable design in the capital review in energy and fuel efficiency, we have natural gas (LNG) and hydrotreated working to reduce emissions, in part by develop renewable electricity projects across
process and evaluate and include efficiency established a dedicated Energy Efficiency vegetable oil, a renewable diesel made seeking innovative new technologies for our global portfolio, including large-scale
measures when projects begin. As an Fund (the “Fund”) that makes significant from recycled cooking oils and waste electrification. For example, the Clean investments in solar power at our parks
example, the DisneylandForward project funding available for our businesses to animal fats. In addition, Disney Cruise Line Mobile Power Initiative was launched in and resorts in Paris, Orlando, Shanghai,
that is currently going through the public undertake new energy efficiency reduction is actively exploring bio-LNG, green June 2023 with the support of Disney and and Hong Kong. For example, Shanghai
planning process in Anaheim, California projects. For example, in 2023, the Fund methanol, and other fuel sources to Netflix to help our sets transition from Disney Resort expanded its solar capacity
(rendering shown above†) will follow our supported retrofitting water pumps in the encourage their development at scale traditional diesel generators to cleaner forms in calendar year 2023, adding 1.3 Megawatts
sustainable design process, if approved. Pirates of the Caribbean attraction at within the maritime industry. of energy. With support from RMI, formerly of solar projects. Hong Kong Disneyland
Shanghai Disney Resort (shown above), Rocky Mountain Institute, and its global (shown above) also implemented new
replacing a water-to-water heat pump at climate tech accelerator, Third Derivative, solar projects in 2023, making it the
Learn more: Hong Kong Disneyland, and adding an the initiative aims to find, test, pilot, and single largest solar site in the city.
Sustainable Design
open-loop electro-cell to a chiller at Walt help scale cost-competitive, zero-emissions
Disney World Resort. mobile power designed specifically for film
and television productions.

† All renderings and maps are for illustrative purposes only.

45 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

Using High-Quality Natural

Climate Solutions
In fiscal 2023, we retired a portfolio of high-quality,
verified, and vetted natural climate solutions that
focused on Integrated Forest Management and
Reforestation projects. These projects are part of a
balanced climate strategy that drives a range of positive
environmental and social benefits.

Reducing Scope 3 Emissions and

Engaging Suppliers
Recognizing the challenge of achieving our aspirational SUSTAINABLE CULINARY FELLOWSHIP
Scope 3 targets, in fiscal 2023 we collaborated
To help reduce value chain emissions through our food
extensively across the business to develop our pathway
programs in fiscal 2023, we launched the Sustainable
and identify levers for our Scope 3 journey.
Culinary Fellowship, giving chefs across the Disneyland
Some of our strategies to reduce our broader value Resort months of training on crafting climate-friendly
chain emissions include: working with strategic menus. By combining key food sustainability insights with
suppliers to increase operational efficiency and their own culinary expertise, chefs become champions of
adoption of renewable energy; exploring less carbon sustainability in resort kitchens, ultimately contributing to
intensive materials for our products and productions, the long-term reduction of our Scope 3 emissions.
as well as leveraging our sustainable design goal
to implement these options for our new buildings; SUPPLIER TRAINING PROGRAM
identifying climate-friendly food and beverage options; As part of our supplier engagement efforts, we initiated
and exploring additional employee commuting a program in fiscal 2023 to provide Disney-sponsored
programs. We will also collaborate with our suppliers training to our suppliers and licensees through the
and licensees to assist them in developing their own Supplier Leadership on Climate Transition program
emissions targets that are aligned to the latest science. developed by Guidehouse. These trainings focus on
While we continue to develop and implement our GHG emissions by introducing our suppliers and
value chain decarbonization strategies, we will licensees to inventory preparation, emissions tracking
maintain a continuous improvement mindset focusing and reporting, target setting, and abatement
on data collection and methodology to better reflect strategy development.
actions in our value chain.
Topiary of Tiana inspired by
The Princess and the Frog
created for EPCOT International
Flower & Garden Festival
46 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

WATER

CG-AA-430a.2

Learn more in our Data & Frameworks

2030 Water Goals

• Implement localized watershed

stewardship strategies
• Source sustainable seafood†

Disney recognizes that water matters to Watershed Investments Water Conservation Sustainable Seafood
ecosystems, communities, and our operations
We have identified critical regional water issues and continue We remain committed to embedding water efficiency Responsibly selecting and sourcing seafood is an
around the world. Water is a shared resource, and
to collaborate with local stakeholders, including nonprofits, measures across our operations and disclosing our annual important aspect of our commitment to protecting the
we know that our operations can have an impact
to promote the overall health of regional watersheds. water consumption. For example, Shanghai Disney Resort health of the planet for future generations. In fiscal
on local watershed conditions and our oceans.
replaced toilet flushing water with non-potable water at 2023, our U.S. parks, resorts, and cruise line sourced
In fiscal 2023, we supported The Nature Conservancy-China’s
Water is a highly local issue, and our strategy two onstage restrooms in 2023, saving millions of gallons 96% sustainable seafood.† Fisheries are periodically
project for Qiandao Lake, a critical water source for the
incorporates individualized considerations in each of potable water per year. Similarly, EPCOT at Walt evaluated by third parties for sustainability, and ratings
Yangtze River Delta region. Our efforts helped protect
geography. We continue to implement site-specific Disney World Resort switched its irrigation system to for specific species can fluctuate. Nonetheless, our
the area’s freshwater quality, a major health resource for
water strategies at our high-impact sites, including reclaimed water in 2023, and the Jungle River Cruise commitment to 100% sustainably sourced seafood
the surrounding communities. The accompanying wetland
our global parks, resorts, and corporate campuses. attraction at Hong Kong Disneyland (shown above) now remains. We continue to collaborate with the
restoration projects are a significant investment in the
And we engage with local communities and refills from collected rainwater. Sustainable Fisheries Partnership in its work to improve
region’s biodiversity. In addition, we supported a project
leading nonprofits to respond to the unique fishing and aquaculture and advance sustainable
to expand a salt marsh and restore a mangrove forest
needs of the region. seafood production. In 2023, this collaboration
by the Marine Discovery Center along the Indian River
supported efforts of fishers in Massachusetts to pilot
Lagoon in Florida (shown above). These native plantings
new gear technologies that protect the critically
improve water quality, support ecological services, and
endangered North Atlantic right whale.
preserve biodiversity. We also supported the Malama
Learning Center’s project to expand the reach and
impact of community-based water stewardship activities
in Leeward O’ahu, adjacent to our Aulani Resort, to
address the threats of reduced water quality due to the
† Disney’s definition of sustainable seafood can be found in our 2030 deterioration of habitat and biodiversity caused by invasive
Environmental Goals White Paper. The breakdown of sustainable seafood in plants and animals, as well as drought and water shortage.
fiscal 2023 was 7% Best Choice, 71% Eco-certified, 7% Good Alternative,
4% Avoid, 11% Fishery Improvement Projects, and < 1% Unrated. We engaged in similar efforts in Los Angeles and Orlando.
47 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

WASTE

Reducing Food Waste Reducing Single-Use Plastics

To prevent food waste before it begins, we use analytics We are committed to reducing single-use plastics
to predict how many meals will be served each day. When in our parks, resorts, and experiences. We have
Learn more in our Data & Frameworks
there is unused, edible food, we donate it to support local eliminated plastic straws and polystyrene hot
communities whenever feasible. As an example, in 2023 beverage cups from Disney-owned or -operated
Disneyland Paris donated 2 million items, including dry, parks and resorts. We’ve also expanded the use of
2030 Waste Goals fresh, and frozen food products to organizations helping reusable dishware at food and beverage locations,
those in need. Additionally, we utilize biodigester increasingly substituting Forest Stewardship
technology to turn food scraps from meals into biofuel, Council-certified wood-based cutlery where we
• Achieve zero waste to landfill for
soil, or slurry, reducing both food waste and the emissions formerly used single-use plastic cutlery, and are
wholly owned and operated parks, created when organic matter breaks down. working to eliminate single-use merchandise bags
resorts, and cruise line† across Disney-owned parks and resorts by 2025.

• Reduce single-use plastics in We also invest in more robust product lifecycle

parks and resorts management tools to track the material composition
• Eliminate single-use plastics on of our consumer products and packaging in our retail
cruise ships by 2025 MINIMIZING WASTE business. We offer plastic-free options for packaging
in specific product categories.
In addition, Disney Cruise Line has been working to
Our long-term waste management plan includes eliminate single-use plastic categories with a goal to
reducing single-use and other plastics; reducing be free of single-use plastics by 2025.
waste on our properties, including food waste; reusing 61%
products and materials; being deliberate about material
sourcing; maximizing recycling; and educating our Donating Screen-Used Clothing
guests and employees. Productions including Grey’s Anatomy, Station 19,
and more worked with Homeboy Threads to donate,
Of total company operational recycle, or resell 30,000 pounds of apparel. The
waste diverted from landfill resources and proceeds support the organization’s
and incineration in fiscal 2023 work with formerly gang-involved and/or incarcerated
people, offering mental health and education
services, as well as substance abuse support.

† Zero waste to landfill is defined as 90% operational waste diversion,

including thermal waste-to-energy for Walt Disney World Resort,
Disneyland Resort, Disneyland Paris, and Disney Cruise Line.
48 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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MATERIALS SUSTAINABLE DESIGN

Our cross-functional Consumer Products team works to

advance progress toward our materials goals and builds
CG-AA-430a.2
capabilities to help our global teams and external
Learn more in our Data & Frameworks collaborators understand how to achieve our 2030 Learn more in our Data & Frameworks
goals. We also continue to grow our capabilities by
including sustainability-focused employees in our
product design and sourcing teams. To measure progress
2030 Materials Goals for toward our goals, we are building new product and 2030 Sustainable
Disney-Branded Products packaging tracking systems that will allow us to report Design Goals
on select quantitative measures. In the interim, we will
continue to provide qualitative updates on our progress.
• Use recycled, certified, or verified • Design new projects to achieve near net zero
sustainable paper, wood, and palm oil Our commitments include working with facilities GHG emissions††, maximize water efficiency,
to track their environmental impact, with the aim of and support zero waste operations†††
• Use plastic that contains at minimizing our environmental footprint everywhere For example, for the reopening of Mickey’s Toontown at
least 30% recycled content or a
that Disney-branded products are made. Important to this • Achieve 90% diversion of construction waste Disneyland Park in Anaheim, California, the Café Daisy
lower impact alternative material across new projects in the U.S. and Europe (shown above) kitchen was completely redesigned to
commitment is the utilization of the Higg Facility
• Design packaging for reuse, Environmental Module (Higg FEM) data, which serves as a incorporate sustainability. All gas appliances were removed,
recycling, or composting foundational tool for comprehending our environmental and the kitchen now utilizes only electric equipment. The
Disney’s sustainable design strategy enables us to redesign increased the greenscape ratio and introduced
• Use recycled, sustainably sourced, impacts within facilities that manufacture Disney-branded
plan, build, and operate our facilities to minimize recirculating water features that greatly reduce the land’s
or lower impact textiles products. Calendar year 2023 marked the launch of our
emissions, water, and waste. As our businesses grow, overall water use.
Higg FEM program. In calendar 2023, more than 50% of
• Have all facilities participate in the new projects above a certain dollar threshold must
facilities utilized by vendors† completed the Higg FEM. In New York City, the development of our new campus, which
Higg Index or maintain a sustainable include an Environmental Assessment Statement that
manufacturing certification includes more than 1 million square feet of office and
details environmental impacts and opportunities. This
Using Recycled Plastic production space, is on track to achieve two LEED platinum
document forms a critical part of the approval process
certifications from the U.S. Green Building Council. This
In 2023, we expanded the use of recycled polyester and is reviewed by senior executives both within
To reduce the environmental impacts associated with aligns with our 2030 environmental goals as the all-electric
in our Plush products. We offered over 50 additional and outside of the business segment. Additionally,
the materials used in our consumer products portfolio, building design meets maximum energy efficiency with
unique plush toys with fill that partially contained we integrate sustainability throughout the design
we identified a set of materials that are consistently on-site solar panels; it delivers water efficiency as a result of
recycled polyester. This builds on our launch of process in collaboration with various design teams
used in high volumes or are known to have significant the building design; and we are striving to support zero waste
Winnie-the-Pooh plush toys in 2022 that contained across Disney. Leveraging the creative expertise of our
environmental impacts associated with their operations and a 90% diversion of construction waste.
recycled filling as well. Advancing the use of recycled Disney Imagineers, we follow a rigorous set of internal
production or use. These materials include paper, plastic, as well as other recycled materials, is part of Sustainable Design Standards that are aligned with our
wood, and palm oil from forest products, as well as our overall strategy to improve the sustainability of 2030 goals. Our built environment, ranging from theme † Only includes facilities utilized by vendors to manufacture Disney-branded
textiles and plastics. Our materials goals focus on our consumer products. parks to offices, accounts for a significant percentage of products for U.S. Disney stores, U.S. Theme Park Merchandise, and
reducing the environmental impacts of these materials disneystore.com. The Higg Index is a suite of tools for the measurement of value
our Scope 1 and 2 emissions. And these standards will chain sustainability. The Higg Facility Environmental Module (Higg FEM) tool
while also helping our manufacturing network become avoid and reduce emissions, solve for operational waste assesses environmental impacts of product manufacturing at facilities.
cleaner and safer. minimization, lower the impact of our building materials, †† See footnote 6 on p. 71.

and drive water efficiencies and conservation. ††† Zero waste to landfill is defined as 90% operational waste diversion,
including thermal waste-to-energy for Walt Disney World Resort,
Disneyland Resort, Disneyland Paris, and Disney Cruise Line.
49 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

Sustainable Design in Our Parks: Shanghai Disney Resort Achieved LEED for Communities Platinum

Shanghai Disney Resort achieved LEED for

Communities Platinum certification from the U.S.
Green Building Council (USGBC) in fiscal 2023, a Combined Cooling, Heating, Power Plant
designation reserved for the most efficient and
SUSTAINABLE DESIGN Building certification
responsibly operated communities. Notably, the Toy Story Hotel
The Team Disney building and the Toy Story Hotel
site was awarded full points for both the Natural
have Three- and Two-Star Ratings, respectively,
Systems and Ecology and the Water Efficiency according to the China Green Building Design
categories, and USGBC commended Shanghai Certification three-star system. Key features that
Disney Resort on its efforts to protect greenspaces, contributed to these ratings included construction
conserve and restore natural resources, prioritize materials selection, façade design with natural
resilience planning, and strive for the highest level illumination solutions, and higher requirements of
the air conditioning systems.
of water quality, access, and performance.
Team Disney
EMISSIONS Maximum LEED points achieved WASTE Waste performance
for energy efficiency and GHG performance Shanghai Disney Resort continues to explore plastic
At Shanghai Disney Resort, a powerful Distributed elimination opportunities. All plastic straws and
Energy Center makes use of the heat produced disposable plastic shopping bags have been replaced
during the generation of natural gas-powered with alternative solutions and reusable cutlery is used
electricity and provides chilled and hot water as even in quick service restaurants.
well as compressed air to be used in the daily
operation of the resort. This system drastically reduces
energy waste compared to traditional power supply. Wishing Star Lake NATURE Bird monitoring program
To help understand the park’s ecosystem, the
resort has collaborated with local bird experts
WATER Maximum LEED points awarded and the Disney Animals, Science & Environment
for water efficiency team on a long-term bird monitoring program.
Wishing Star Park
The water treatment plant maintains the lake water Since the program’s inception over eight years
quality at a very high level. Some of the key elements, such ago, bird experts have monitored more than 120
as phosphorus and nitrogen, are controlled to meet the different species of birds and have cumulatively
highest local quality standards of surface water, which helps detected more than 30,000 individual birds
to build an attractive natural habitat for wild animals. during monthly park visits.

Aerial rendering of Shanghai Disney Resort.

Note: This rendering does not include Zootopia, the new Water Treatment Plant

land expansion that opened on December 20, 2023. All

renderings and maps are for illustrative purposes only.
50 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

NATURE
DISNEY CONSERVATION FUND EFFORTS
SINCE IT WAS FOUNDED IN 1995

Learn more in our Data & Frameworks

Disney’s commitment to conservation began with Walt

Disney himself. Our efforts to help protect nature and $125M+
wildlife globally continue to this day through our 2030
goals, philanthropic investments, dedicated expert teams
and programs, and inspirational storytelling.

Invested in community
Disney Conservation
conservation programs
Since 1995, Disney has invested more than $125 million
through the Disney Conservation Fund (DCF), a
company initiative that supports community-based
solutions to protect wildlife and their habitats. A core
example of Disney Planet Possible—tangible actions
the company is taking to inspire optimism for a brighter,
more sustainable future—DCF philanthropic grants 1,000+
and the expertise of dedicated teams have helped to
preserve and restore nature and biodiversity, build more
resilient communities, advance science, and strengthen
the natural systems that we all depend on for food,
water, clean air, and more. Through projects supported Species of wildlife protected
by Disney Conservation, wildlife like California condors
and Atala butterflies have been brought back from the
brink of extinction, and millions of acres of marine- and
land-based areas have been protected.
In fiscal 2023, the DCF made nearly $7 million
in grants, supporting organizations working on the
ground in 18 countries. 315M+

Acres of habitat safeguarded

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OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

Excellence in Animal Care The Great Reef Census Commitment to Conservation in Florida
Disney’s Animals, Science & Environment team Nearly 400 Disney VoluntEARS participated in the In recent years, Walt Disney World Resort has donated
leads the company’s efforts to advance care for animals, Great Reef Census, a large-scale effort to protect to conservation organizations in Florida as part of
connects people with animals and nature through Australia’s Great Barrier Reef. VoluntEARS were asked the resortʼs continued commitment to reduce its
immersive experiences and storytelling, and helps to survey images that divers had taken of the reef, environmental footprint, care for wildlife and their
conserve our natural resources. For example, at the classify the types of reef-building coral they saw, habitats, share stories that inspire action, and support
Aulani Resort in Hawaii in 2023, the team worked with and help scientists determine where the reef needs programs in its local communities. Organizations such
the Oceanic Institute of Hawaii Pacific University to targeted attention and resources. The result was a as Conservation Florida, The Nature Conservancy, and
replenish tropical fish stocks without impacting the ocean large virtual volunteering initiative, with participants Trout Lake Nature Center are using the funding to help
environment, resulting in promising growth in several from locations around the world reviewing more than make a number of projects possible—from expanding
endemic fish populations. On the other side of the 18,000 images. The Great Reef Census has surveyed land protection initiatives and supporting healthy tree
country, the veterinary team at Disney’s Animal Kingdom more than 17% of reefs on the Great Barrier Reef. canopy coverage in underserved communities, to
has saved animal lives, brought new ones into the world, finding solutions to clean drinking water for those in
Disney’s long-term commitment to protecting and
and made many lives better, including helping recover need and funding educational opportunities for youth
restoring coral reefs includes leading research to
the Guam rail and Guam kingfisher bird species that were in our community.
rehabilitate coral reefs in The Bahamas, supporting the
extinct in the wild.
Florida Coral Rescue Center to safeguard coral species
susceptible to stony coral tissue loss disease, and
supporting nonprofits like the Perry Institute for Marine
Science to address coral conservation and restoration.
52 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW EMISSIONS WATER WASTE MATERIALS SUSTAINABLE DESIGN NATURE SPOTLIGHT

Connecting with the Planet Through Stories

We take action for a healthier planet and invite others
to join us in pushing the limits of what’s possible. Caring
about nature begins with connecting with nature. Our
stories come to life through our offerings, like content
from National Geographic and Disneynature, and
experiences at Disney’s Animal Kingdom and on
Adventures by Disney trips.

Keeping Our Oceans Amazing Inspiring Action with National Geographic Reporting on the Climate
In celebration of the theatrical release of the 20th Two new National Geographic projects took listeners Two of ABC News’ most prominent personalities
Century Studios film Avatar: The Way of Water, and viewers inside the unique landscapes and habitats provided in-depth looks at the mounting physical
Disney and Avatar launched the global Keep Our of Latin America. Lo Que Haces Cuenta, or What You Do effects of climate. Michael Strahan’s report from
Oceans Amazing campaign to raise awareness of Counts, released new podcast seasons dedicated to the Easter Island showed the degradation of the
the challenges facing oceans and marine life. The relationship between the balance of ecosystems and the sacred Moai statues, which are part of a UNESCO
award-winning campaign supported The Nature well-being of people. The series explored the connection World Heritage site and date back centuries, as
Conservancy (TNC) and its work to protect 10 of of human beings with the Earth, the key role of bees well as the high level of microplastics pollution in
our oceans’ amazing animals and their habitats, in sustaining biodiversity, activist youth, sustainable the surrounding bodies of water. David Muir
connected to the beauty of Pandora. As part of architecture, food and its impacts, and more. The series traveled to South Sudan to report on the impacts
the campaign, fans were invited to participate in also featured scientists, environmentalists, experts, and of massive flooding. Following the segment’s
celebratory experiences, such as the Virtual Pandoran National Geographic Explorers in conversation about the broadcast on World News Tonight, Nightline, and
Ocean, which transported fans to the wonders of wonder of the planet. Another initiative for Spanish and Good Morning America, viewers donated more
the reef. Through this unique digital activation, fans Portuguese speakers, Escala Por El Bien, or Stop Over for than $4.7 million to World Food Program USA, a
helped to “Keep Our Oceans Amazing” by creating the Good, featured videos from influencers in Argentina record for the organization.
their very own Avatar-inspired ocean creature. For (shown above), Brazil, and Mexico as they met National
every creature created in the Virtual Pandoran Ocean, Geographic Explorers and learned more about how their
Disney gave $5 to TNC. These funds contributed to projects encouraged people to connect with nature.
more than $1 million that was provided to TNC.
53 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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SPOTLIGHT

DISNEY’S ANIMAL KINGDOM CELEBRATES 25 YEARS OF CONSERVATION AND INSPIRATION

Since it first opened its doors on Earth Day in Protecting Global Habitats and Wildlife Innovation in Animal Care
1998, Disney’s Animal Kingdom Theme Park
To mark the anniversary, the Disney Conservation In 2023, there were 58 animals—from Gino the
has inspired countless guests with the magic of
Fund awarded grants to 25 global organizations that gorilla to Tuma the Nile hippopotamus—that had
the natural world. The park offers memorable
save wildlife, inspire action, and protect the planet. lived at Disney’s Animal Kingdom since opening day,
experiences with animals and their habitats, and
These include organizations working to preserve local a testament to the high level of care the park provides
its team of scientists, zoologists, veterinarians, and
habitats in Florida, such as the Coastal Plains Institute for all its animal species.
cast members has built a legacy of conservation
and Sea Turtle Conservancy, as well as those fighting
both in Central Florida and around the world.
to protect endangered species globally, such as Save Celebrating Nature’s Stories
In honor of the 25th anniversary, we launched the Elephants in Kenya and the Okapi Conservation
Project in the Democratic Republic of the Congo. Cast Telling stories that celebrate our relationship with
a series of initiatives to celebrate its history and
members at Walt Disney World Resort also do their nature and inspire conservation action has been a part
promote the continuation of its work to create
part to protect wildlife by inspiring guests to learn of Disney’s Animal Kingdom since day one. The 25th
a healthier planet for people and wildlife for
more about endangered species, like a new okapi baby, anniversary doubled as the 10th anniversary for the
years to come.
Beni, born in 2022 at Disney’s Animal Kingdom Lodge. Wilderness Explorer program, an interactive experience
Beni’s birth was recommended through the Association that enables guests of all ages to learn about plants,
of Zoos and Aquariums’ Species Survival Plan, which animals, and conservation. As of fiscal 2023, ~24 million
supports responsible breeding of threatened species in guests had participated in the program. This year also
managed care and represents hope for the declining, included the second season of Magic of Disney’s Animal
endangered populations of okapis in the wild. Kingdom on Disney+, the docuseries that highlights
Disney’s care for wildlife and the planet, which allows
global viewers to explore the more than 5,000 animals
that call Walt Disney World Resort home.
54 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Social Impact
We bring comfort, optimism, and joy
to our communities and inspire
hope, especially for children

In This Section

55 OVERVIEW
56 WISH GRANTING
57 SPOTLIGHT: DISNEY AND MAKE-A-WISH
CELEBRATE WORLD WISH DAY
58 CHILDREN´S HOSPITALS
60 DISNEY FUTURE STORYTELLERS
61 SUPPORTING COMMUNITIES
AROUND THE WORLD
62 VOLUNTEERING

Walt Disney World hosted its

largest wish-granting event ever,
Once Upon A Wish Party, for wish
kids and their families
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OVERVIEW
Having a positive impact on the world as we grow This past year, Disney and
our businesses has been a part of our company
since its founding. We place particular focus on Make-A-Wish granted the
areas where we are uniquely positioned to make 150,000th Disney wish since our
a meaningful, measurable impact. Through our
support of wish granting and children’s hospitals,
founding in 1980. Disney is the
as well as our efforts to support communities in world’s largest wish granter for
need around the world and the contributions of Make-A-Wish, an accomplishment
passionate employee volunteers, we deliver joy
when and where it’s needed most. that wouldn’t be possible without
the dedication and commitment of
Disney leaders and thousands of cast
members over the years who have
helped us grant life-changing wishes
for children with critical illnesses
around the world, delivering hope
and joy when they’re needed most.

Leslie Motter Luciano Manzo

President & CEO, President & CEO,
Make-A-Wish Make-A-Wish
America International

Mikayla (shown above in Mickey ears)

was the 150,000th child to have a wish
granted by Disney and Make-A-Wish
56 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW WISH GRANTING SPOTLIGHT CHILDREN’S HOSPITALS DISNEY FUTURE STORYTELLERS SUPPORTING COMMUNITIES AROUND THE WORLD VOLUNTEERING

WISH GRANTING

Disney supports children facing critical illnesses by helping

to grant life-changing wishes. By providing unforgettable
moments with their families, our goal is to help kids feel
like kids, rather than patients. Together with Make-A-Wish,
Disney has helped to grant more than 155,000 magical
wishes globally since 1980, and we are honored to continue
to be the world’s largest wish granter for Make-A-Wish.
We collaborate across the company to offer theme park
and resort vacations, cruises, shopping sprees, studio visits,
talent meet-and-greets, sports-themed experiences, and
more. With our unparalleled storytelling, breadth of
experiences, and dedicated cast members around the world,
Disney is uniquely suited to make these wishes truly magical.

Magical Wish-Granting Experiences

Disney UK & Ireland, Make-A-Wish UK, and The Kentown
Wizard Foundation came together for the third consecutive
year to create A Disney Wish, a three-day immersive
experience for 160 wish children and their families. In
addition, Walt Disney World Resort hosted its largest
wish-granting event ever, Once Upon A Wish Party. This 100 Wishes for Our 100th Anniversary Sports Stars Delivering Joy Supporting Make-A-Wish During the Holidays
first-of-its-kind Disney experience included tea and treats, In celebration of our 100th anniversary on ESPN’s My Wish series granted wishes for its 16th Since the launch of the From Our Family to Yours
character meet-and-greets, and a Royal Ball to fulfill the October 16, 2023, we kicked off 100 Disney season, featuring prominent athletes, including Mike animated holiday campaign in 2020, Disney has
Disney Princess wishes of more than 50 wish kids. To help Wishes with Good Morning America. Through this Trout of the Los Angeles Angels, Ja’Marr Chase of supported Make-A-Wish and its Affiliates around the
each child truly feel like royalty, shopDisney and Disney unprecedented storytelling series, one hundred the Cincinnati Bengals, Josh Allen of the Buffalo Bills, world through direct financial contributions and has
Publishing donated a variety of princess dresses and other Disney and Make-A-Wish stories from across the and UFC fighter Dustin Poirier. Since its inception, incorporated Make-A-Wish into the Disney holiday
royal attire, toys, and books. company were reported across Good Morning America the series has worked with Make-A-Wish to fulfill brand spot, furthering their brand exposure. The fiscal
broadcast, digital, and social platforms, as well as on sports-themed wishes for children with critical illnesses. 2023 seasonal spot enabled a unique wish to be granted.
our owned and affiliate ABC stations across the ESPN also worked with the teams and leagues to Wish child Sienna aspired to be a fashion designer and
country. Stories featured wish reveal moments, Disney support wishes at the NFL Draft, Super Bowl, Home had the opportunity to design the jacket that was worn
wishes granted throughout the year, and a look back Run Derby, and College World Series. Additionally, at by Sanka, the dog, in the advertisement (shown above).
on other powerful stories from wishes Make-A-Wish the invitation of ESPN, nearly 600 Make-A-Wish and Sienna also met the talent who sang the soundtrack for
and Disney have granted together. The series CoachArt recipients, their families, and volunteers the commercial.
155K+ concluded at the end of calendar year 2023 with attended the 2023 ESPYS.
a feature on Aulani Wish Week (shown above),
highlighting the community-building benefits of this
wish-granting event where 20 wishes were granted.
Magical Disney wishes granted with
Make-A-Wish since 1980
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OVERVIEW WISH GRANTING SPOTLIGHT CHILDREN’S HOSPITALS DISNEY FUTURE STORYTELLERS SUPPORTING COMMUNITIES AROUND THE WORLD VOLUNTEERING

SPOTLIGHT

DISNEY AND MAKE-A-WISH CELEBRATE WORLD WISH DAY®

Windows on Main Street, U.S.A. Our 150,000th Wish Pixar Wishes Guardians of the Galaxy Premiere Wish Weekend in Paris
In April 2023, Disney and Make-A-Wish Mikayla, a talented 16-year-old from Pixar granted special wishes throughout Wishes were granted alongside the launch Disneyland Paris celebrated World Wish Day
commemorated granting a remarkable Florida (shown above), was the 150,000th 2023, including one for wish kid Addie of premieres of Guardians of the Galaxy Vol. 3 (shown above) by inviting more than 80 wish
150,000 Disney wishes for children facing child to have a wish granted by Disney and (shown above), who wished to be a voiceover around the globe. At the European Gala at kids and their families from 13 countries to visit
critical illnesses and their families. The Make-A-Wish. Mikayla and her family were actor at Pixar. Her special day included a Disneyland Paris and at the World Premiere the park for a magical adventure, including
milestone was celebrated on World Wish surprised with the news on World Wish behind-the-scenes studio tour, an animation in Los Angeles (shown above), wish kids joining a special pre-parade event alongside
Day—the anniversary of the first wish that Day at Walt Disney World Resort, where demo, meet-and-greets with Pixar directors watched the long-awaited final installation characters like the three Sleeping Beauty good
inspired Make-A-Wish—with a first-of-its-kind she was Grand Marshal of the Disney and animators, and a recording studio session of the trilogy, walked the purple carpet, and fairies, Cinderella’s Fairy Godmother, Genie
window dedication on Main Street, U.S.A. Festival of Fantasy Parade. She returned during which she recreated a scene from met the stars. from Aladdin, and Mickey Mouse.
at Disneyland Resort. Main Street, U.S.A. to Walt Disney World Resort in August to Finding Nemo as Dory.
windows have historically been dedicated fulfill her wish to perform on stage at the Disney Talent Helps Raise Making Music at
to people who have made significant Once Upon A Wish Party, singing for First Visit to Tokyo Disney Resort Awareness for Make-A-Wish Hong Kong Disneyland
contributions to Disney over the past century. fellow wish kids and their families.
The windows unveiled on World Wish Day After years of delays due to the severity of Freeform’s grown-ish stars Marcus Scribner, After enduring years of treatment, 10-year-old
were the first dedicated to a nonprofit and her medical condition, 19-year-old wish kid Trevor Jackson, and Diggy Simmons, along wish kid Jarvis was able to share his love of
American Idol Experience Rei was finally able to visit Tokyo Disney
represent the special relationship Disney and with other Disney talent, participated in music and drumming at Make-A-Wish Hong
Make-A-Wish have developed over the past American Idol’s Disney Night enabled the Resort, just in time for its 40th anniversary videos that helped to raise awareness for Kong’s 25th Anniversary Celebration Party.
43 years. The company marked World Wish wishes of children to be fulfilled when they and World Wish Day. Rei credits her Make-A-Wish across social media. Jarvis took to the stage and performed a
Day with celebrations across our businesses met all-star judge Luke Bryan, took pictures, enduring positivity during medical mini-concert, inspiring the crowd and
and around the world. spent quality time with him, and stayed to treatments to the promise of one day reminding everyone of the incredible
watch the live taping. making this special trip. strength and resilience of children with
critical illnesses.
58 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW WISH GRANTING SPOTLIGHT CHILDREN’S HOSPITALS DISNEY FUTURE STORYTELLERS SUPPORTING COMMUNITIES AROUND THE WORLD VOLUNTEERING

CHILDREN’S HOSPITALS

Learn more in our Data & Frameworks

Since Walt Disney himself first brought animators to

visit hospitalized children, Disney stories have uplifted
young people facing serious illnesses.
In 2018, Disney announced a global commitment
of $100 million to help reimagine the patient
experience in children’s hospitals and deliver joy when
it’s needed most. Since then, we have directed more
than $88 million to this initiative and brought the
positive power of Disney stories and characters to
children in more than 1,300 children’s hospitals and
pediatric places of care around the world, including
more than 900 in fiscal 2023 alone. Creating Memories with Disney Movies Using the mobile movie theaters or other hospital-owned
devices, families can enjoy the latest Disney storytelling
We provide a sense of community and comfort when Inspired by the cinema at Disneyland Resort and
through the Disney Movie Moments Program, which
patients and their families may not be able to visit designed by renowned Disney Imagineers, Disney’s
provides child life teams at children’s hospitals with
movie theaters by bringing our stories to them, as well mobile movie theaters offer patients and their
access to new movie titles from The Walt Disney
as through themed hospital gowns, toy deliveries, care families a place to gather and enjoy a unique
Studios shortly after theatrical release. In 2023,
packages, and more. We also help transform hospital “in-theater” experience.
supported by Starlight Children’s Foundations in
spaces with imaginative installations like interactive In celebration of Disney’s 100th anniversary, Disney the U.S., Canada, and Australia, we introduced Disney
murals, digital displays, and play spaces to help ease the and longtime nonprofit collaborator Starlight Movie Moments for the first time outside of the
fear and anxiety of a hospital stay and bring joy to Children’s Foundation®—a nonprofit dedicated to United States at 75 hospitals in Canada and
patients and their families. delivering happiness to seriously ill children and five pediatric places of care in Australia.
their families—distributed 21 mobile movie theaters
In addition, we provided child life teams at children’s
in the U.S. and Canada in fiscal 2023.
hospitals with free access to Disney+, and now
And, for the first time, mobile movie theaters were reach more than 500 children’s hospitals in more
distributed to hospitals outside of North America, than 20 countries worldwide, including France,
with 22 units being delivered in places such as Poland, Czech Republic, Portugal, and Greece,
Hong Kong (shown above) and Shanghai. which were added in 2023.
59 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW WISH GRANTING SPOTLIGHT CHILDREN’S HOSPITALS DISNEY FUTURE STORYTELLERS SUPPORTING COMMUNITIES AROUND THE WORLD VOLUNTEERING

Delivering Joy Through the Power of Disney Characters and Stories Helping Reimagine the Patient Experience Globally
In collaboration with Starlight Children’s Foundation, For the first time, Disney delivered 40,000 A global installation expansion plan in our APAC At Korea University Guro Hospital, we opened a play
almost 600 hospitals and places of care in the United National Geographic-themed STEM toys and EMEA regions is helping to bring immersive space in collaboration with Make-A-Wish and LG Uplus
States received Disney-themed Starlight Hospital and books to hospitalized children across the experiences to patients. (shown above). At Taipei Medical University Hospital,
Gowns and Pants, toys, books, and games in fiscal 2023. U.S. to inspire curiosity, exploration, and love we transformed the pediatric floor. And at King
In collaboration with The Support Network for
Since 2018, we have delivered 1.7 million toys and for nature. Chulalongkorn Memorial hospital in Thailand, we
NANBYO Children of Japan (shown above), Disney
books through Starlight to children in hospitals. provided a complete makeover of the pediatric patient
Internationally, Disney made May the 4th Japan introduced new experiences to the National
learning center.
Lucasfilm and Disney, together with Starlight Children’s Star Wars-themed product donations to six Center for Child Health and Development, including
Foundation, debuted new hospital gown designs in pediatric hospitals across Australia and Japan’s first-ever mobile movie theater. Through our long-term relationship with charity
2023. Ahsoka Tano and Din Djarin with Grogu were New Zealand. The special deliveries consisted MediCinema and the Institute of Imagination, more
In China, five new Disney Fun Houses opened at
added along with a refresh of existing gown designs for of 5,000 premium books, toys, and costumes. than 40,000 Wonder of Space Mission Play Packs
children’s hospitals in Hubei, Jiangsu, and Anhui
characters Darth Vader, R2-D2, and Chewbacca. The We also sent Disney-themed Starlight Hospital were created for hospitals in Disney’s charitable network
provinces, joining 34 other installations in the
gowns were unveiled on Wheel of Fortune during its Gowns to international markets including across 22 countries and in 18 languages, including
Chinese mainland.
Star Wars Galactic Celebration-themed week. France, Japan, Singapore, and Taiwan. Spain, Italy, Germany, Sweden, Denmark, Romania, The
Netherlands, Poland, the UK, and Ireland. Since 2021,
Disney has collaborated with MediCinema and places
of care to create and deliver more than 100,000
Adventure Packs to seriously ill children in hospitals
and hospices across the EMEA region.
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OVERVIEW WISH GRANTING SPOTLIGHT CHILDREN’S HOSPITALS DISNEY FUTURE STORYTELLERS SUPPORTING COMMUNITIES AROUND THE WORLD VOLUNTEERING

DISNEY FUTURE STORYTELLERS

Learn more in our Data & Frameworks

~500K
Empowering the Next Generation Through Disney Future Storytellers
Disney Future Storytellers is Disney’s commitment to empowering the next generation of storytellers and innovators in the
media, entertainment, technology, and travel and leisure industries. We want all youth, regardless of background, to have
access to rewarding careers. It is important to our future success to have a well-trained workforce that is representative and People served by
respectful of all communities so that we can create successful content and products reflecting our wide-ranging audiences. Disney Future Storytellers
grants in fiscal 2023
It all starts with inspiring today’s youth to dream about their future by sparking an interest in storytelling and technology
through hands-on experience, STEM, and arts education. We then invest in programs that support essential training and
development to help youth build their talents and skills. Finally, we help young adults become who they imagine they can
be by breaking down barriers and expanding access to career training, professional networks, and financial support. In
fiscal 2023, nearly half a million people were served by Disney Future Storytellers grants. Here are a few highlights:

Disney continued its more than 20-year support of FIRST®, In collaboration with Junior Achievement Bahamas Disney’s American Indian College Fund (the College In honor of Hispanic and Latin American Heritage
mentoring 180 students across California and Florida for and The Bahamas Ministry of Youth, Sports, and Culture, Fund) Scholarship Program issues annual scholarships Month, Disney Entertainment commissioned alumni
FIRST’s international, project-based robotics competition Disney Cruise Line celebrated the rich traditions of to students attending tribal universities and colleges. from Ghetto Film School to create a short film to celebrate
for pre K-12 students. Walt Disney Imagineering (WDI) Junkanoo and hosted a series of virtual, interactive The program provides the College Fund scholars with their Hispanic and Latin American heritage. The film,
participated in the FIRST Championship and Innovation workshops with nearly 800 students in Eleuthera. uniquely Disney experiences and access to career Yo Recuerdo/I Remember, debuted on Hulu and was
Faire in Houston, where four teams that we sponsored Students were paired with Disney entertainment development opportunities. In fiscal 2023, Disney hosted distributed across Disney Entertainment’s digital platforms,
competed. Throughout the event, 50,000 people from professionals to exchange ideas, spark their students and staff from the College Fund—representing including ABC, ABC News, FX, Freeform, Hulu, National
around the world attended the FIRST Championship. imaginations, and inspire creativity. Diné, Cocopah, and Chiricahua Apache Nations—at the Geographic, Onyx Collective, and ABC Owned TV Stations.
Attendees—including students, faculty, and parents— Walt Disney World Resort for an immersive, multi-day This initiative builds on the multi-year collaboration between
stopped by WDI’s booth to experience examples of our site visit that included networking, professional Disney and Ghetto Film School, an award-winning nonprofit
robotics and to connect with Disney Imagineers. development, and exposure to career opportunities. organization that educates, develops, and celebrates the next
generation of great storytellers.
61 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW WISH GRANTING SPOTLIGHT CHILDREN’S HOSPITALS DISNEY FUTURE STORYTELLERS SUPPORTING COMMUNITIES AROUND THE WORLD VOLUNTEERING

SUPPORTING COMMUNITIES AROUND THE WORLD

Learn more in our Data & Frameworks

REDUCING FOOD INSECURITY EMPOWERING ADOLESCENT GIRLS PROVIDING DISASTER RELIEF

Our Owned Television Stations provide year-round In collaboration with United Way of Mumbai, Disney Following the Maui wildfire, ABC News’ Good Morning
support for food organizations, including community food Star in India introduced a new program with the aim to America amplified Hawai’i Community Foundation’s Maui
drives and Disney VoluntEARS-led food sorting activities. empower adolescent girls between the ages of 8 and 18 Strong Fund, a special fund spotlighting the Maui
Producers of FX’s award-winning hit series The Bear, through a holistic intervention. The program focuses on community, with a call to action to raise funds for their
FX, Hulu, and ABC teamed up to call attention to child education, health, livelihood, and community recovery efforts. The Maui Strong Fund raised more than
food insecurity during summer months. By working with engagement. In the first year, we served more than $7 million from corporate and individual donations.
food banks in New York, Chicago, and Los Angeles, we 5,000 girls at community learning centers and schools.
When Türkiye and Syria were ravaged by earthquakes
provided approximately 450,000 meals to children and
in February 2023, Disney launched a Global Employee
families, and talent from The Bear visited each food bank ESPN SUPPORTING ATHLETES OF ALL ABILITIES
Contribution Amplification Program. We also joined forces
(shown above). Since 2013, ESPN has been the Global Presenting with others to broadcast the Türkiye as One fundraiser.
Sponsor of Special Olympics Unified Sports, resulting Disney Türkiye’s Sihirbazlar (“Magicians”) group, an
CELEBRATING CHILDREN’S DAY in an increase in participants globally of more than internal social committee, reached out to regional NGOs
For Children’s Day, in collaboration with ChildFund Korea, 150%, bringing the number of participants to more to provide immediate aid and VoluntEARS assembled,
Disney Korea provided children in orphanages with gift than 1.8 million. In 2023, ESPN served as the global boxed, and delivered aid packages.
packages that included Disney-themed school supplies broadcast partner for the Special Olympics World
and gifts. Mickey Mouse and Minnie Mouse visited Korea Games in Berlin. Throughout the week, ESPN featured PREPARING EARLY EDUCATION KITS
for the first time together. And the Disney Korea office more than 220 hours of live-streaming competition
As part of the Save the Children Global Kitting program,
and VoluntEARS, with ChildFund Korea and Global Good coverage of sports on ESPN+ and ESPN3. Disney
in fiscal years 2022 and 2023, Disney VoluntEARS in Gold Medal winner for Rhythmic
Friends, hosted a Chuseok cultural program for children VoluntEARS participated in the iconic torch run and
China packed and donated 7,000 newborn, “learn & play,” Gymnastics at 2023 Special
from multicultural families, who are often considered an games, and VoluntEARS dedicated more than 1,200
and inclusive education kits with supplies and toys for Olympics World Games in Berlin
underrepresented group in Korea. hours of service to the games.
children with special needs.
62 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW WISH GRANTING SPOTLIGHT CHILDREN’S HOSPITALS DISNEY FUTURE STORYTELLERS SUPPORTING COMMUNITIES AROUND THE WORLD VOLUNTEERING

VOLUNTEERING

Learn more in our Data & Frameworks

Volunteering is an important and enduring part of our

company’s culture and demonstrates how employees
and cast members lead with heart. By encouraging and
providing volunteering opportunities, our passionate
employees can create meaningful experiences; deepen
connections to their coworkers, our company, and causes
they care about; and build stronger communities.

Disney VoluntEARS
Through the Disney VoluntEARS program, we
encourage employees around the globe to donate COMMEMORATING 40 YEARS OF DISNEY VOLUNTEARS HONORING THE U.S. ARMED FORCES INSPIRING READING THROUGHOUT THE YEAR
their time and talents to their local communities. To honor the Disney VoluntEARS program’s 40th Disney VoluntEARS in Southern California volunteered Since 2000, Disney Publishing has donated more than
Since the program began in 1983, our employees anniversary, Disney VoluntEARS from Disneyland Resort, with Operation Gratitude, assembling 5,000 care 93 million books to First Book, benefiting educators,
and cast members have collectively contributed more along with their friends, family, community members, packages that were sent to deployed U.S. Service children, and families in low-income communities. As part
than 13 million hours of service to their communities and representatives from JMh / Love Anaheim, came Members, children of deployed military, veterans, of our long-standing relationship with First Book, in 2023,
worldwide. For example, during the company’s together to beautify Pearson Park in Anaheim, recruit graduates, first responders, wounded heroes, Disney VoluntEARS from Disneyland Resort brought
centennial celebration in October 2023, Disney California. This was one of multiple park beautification and caregivers. 40,000 children’s books to families, kids, and educators to
VoluntEARS around the world participated in service projects that took place throughout the summer. inspire reading through the summer months. In addition,
projects as a way to give back, bringing impact to local The Disney SALUTE veteran Business Employee
cast members from the HOLA Readers program—who
communities where we live and work. Resource Group made some magic for Harry Porrata
SUPPORTING THE MARINE TOYS FOR TOTS PROGRAM visit students at Orange Grove Elementary School each
Doria, a Guest Experience Manager at Disney’s Animal
Additionally, the Disney VoluntEARS Grants program Disney’s relationship with the Marine Toys for Tots year to host learning opportunities, bilingual story time,
Kingdom and a Master Sergeant in the U.S. Air Force
allows eligible employees to direct donations from the Program began in 1947, when Walt Disney and his and career days— joined the event to read stories in both
Reserve, while he was on an extended deployment to
company to qualified nonprofits of their choosing as a animators designed the original Toys for Tots train English and Spanish to children throughout the morning
Southwest Asia. SALUTE led a drive to collect food and
benefit for the time they spend volunteering. logo that is still used today. Since then, Disney has (shown above).
hygiene products for Doria and his Air Force unit to
helped Toys for Tots bring toys to millions of children help boost their morale while overseas (shown above). Disney VoluntEARS also joined Blue Star Families to
in need during the holiday season. As part of the The cast member response was impressive and excess host the Eustis Youth Book Bash at Joint Base Langley-
Disney Ultimate Toy Drive, Disney collected and donations were shared with an Orlando-based Eustis, Virginia. The event featured Disney VoluntEARS
donated more than 200,000 toys for Toys for Tots organization that supports a home where military who read to military children, and Disney donated more
during the 2022 holiday campaign in fiscal 2023. The and veterans’ families can stay at no cost while a loved than 3,000 books to military dependents.
effort was supported cross-company by shopDisney, one is receiving medical treatment.
Disney stores, Disneyland, Walt Disney World, and
across Studios and Disney channels.
63 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

Data &
Frameworks
We measure year-over-year
performance of certain metrics and
include responses to select third-party
framework indicators to help our
stakeholders find the information
that is important to them

In This Section

64 OVERVIEW
65 FISCAL 2023 DATA TABLE
73 SASB INDEX
78 TCFD INDEX
79 SDG INDICATORS

An image of World of Frozen, which

opened November 16, 2023 at Hong
Kong Disneyland Resort
64 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW DATA TABLE SASB INDEX TCFD INDEX SDG INDICATORS

OVERVIEW
We believe disclosure frameworks are helpful Select Policies & Practices
in providing our stakeholders with relevant and
Disney is committed to a number of policies
decision-useful information. As such, we regularly
and practices that promote the thoughtful
monitor existing and emerging frameworks to inform
and ethical operation of our businesses.
our sustainability practices and reporting. We recognize
third-party frameworks are quickly evolving and we are ENVIRONMENT
evaluating which frameworks and disclosures will be • 2019 Emissions Verification
helpful to stakeholders in the future. As it relates to fiscal • 2022 Emissions Verification
2023, we currently align our disclosures to the following • 2023 Emissions Verification
• 2030 Environmental Goals White Paper
frameworks: the Sustainability Accounting Standards
• CDP Climate Change Survey Response
Board (SASB), the Task Force on Climate-related • Environmental Policy
Financial Disclosure (TCFD), and the United Nations • Live Animals in Entertainment Policy
Sustainable Development Goals (SDGs). • Management of Chemicals in Consumer Products
• Natural Climate Solutions White Paper
• Paper Sourcing and Use Policy
Learn more about our company and our social
SOCIAL
and environmental responsibility efforts:
• 2022 EEO-1
The Walt Disney Company • 2022 Modern Slavery Statement
• 2023 Diversity Dashboard
ESG Reporting Centre • 2023 Pay Ratio Disclosure
• Charitable Giving Guidelines
• Conflict Minerals Policy
• Human Rights Policy
• International Labor Standards Program Manual
• Forced Labor Supplement Guide
• Nutrition Guidelines
• Permitted Sourcing Countries
• Privacy Center
• Smoking in Movies
• Supply Chain Code of Conduct

GOVERNANCE
• Anti-Corruption Policy
• Anti-Piracy Policy
• Global Tax Strategy Statement
• Information Security Management System
• Political Giving & Participation in the
Formulation of Public Policy
• Standards of Business Conduct
65 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW DATA TABLE SASB INDEX TCFD INDEX SDG INDICATORS

FISCAL 2023 DATA TABLE1 Not Reported (NR)

Environmental Sustainability2
2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

EMISSIONS (METRIC TONS CO2e)3 EMISSIONS (METRIC TONS CO2e)3

Scope 1 Emissions4, 5 993,347 901,714 503,221 614,971 909,382 Scope 3 Emissions5, 8 In Progress 10,637,943 NR NR 9,243,076
Stationary Fuel 170,926 181,084 NR NR NR Category 1 Purchased Goods and Services9, 10, 11, 12 In Progress 6,050,917 NR NR 4,242,921
Mobile Fuel 793,721 696,695 NR NR NR Category 2 Capital Goods9, 11 In Progress 552,929 NR NR 630,302
Refrigerants, Livestock, Other 28,700 23,934 NR NR NR Category 3 Fuel- and In Progress 525,322 NR NR 458,041
Energy-Related Activities11, 13
Scope 2 Emissions (location-based)4, 5 782,066 702,062 675,984 714,874 913,359
Category 4 Upstream Transportation In Progress 369,196 NR NR 231,425
Scope 2 Emissions (market-based)4, 5, 6 727,414 679,506 687,042 681,456 898,696 and Distribution10, 14
Electricity 686,441 642,244 NR NR NR Category 5 Waste Generated in Operations15 In Progress 158,723 NR NR 207,349
Chilled Water, Hot Water, Other 40,972 37,262 NR NR NR Category 6 Business Travel9, 14 In Progress 183,080 NR NR 236,265
Total Scope 1 & 2 Emissions (location-based)4, 5 1,775,413 1,603,776 1,179,205 1,329,845 1,822,741 Category 7 Employee Commuting11, 14 In Progress 449,861 NR NR 587,261
Total Scope 1 & 2 Emissions (market-based)4, 5, 6 1,720,761 1,581,220 1,190,263 1,296,427 1,808,078 Category 8 Upstream Leased Assets9 In Progress 5,084 NR NR 10,780
Retired Carbon Credits6, 7 803,744 801,077 410,120 470,209 860,620 Category 9 Downstream Transportation In Progress NR NR NR NR
Net Emissions (market-based)4, 6, 7 917,017 780,143 780,143 826,218 947,458 and Distribution16
Category 10 Processing of Sold Products17 In Progress NR NR NR NR
Category 11 Use of Sold Products14 In Progress 4,628 NR NR 9,393
Category 12 End-of-Life Treatment In Progress 65,222 NR NR 15,598
of Sold Products9, 10, 12
Category 13 Downstream Leased Assets18 In Progress 77,697 NR NR 81,716
Category 14 Franchises9, 11, 12, 14, 19, 20 In Progress 2,156,653 NR NR 2,486,999
Category 15 Investments9
In Progress 38,631 NR NR 45,026
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FISCAL 2023 DATA TABLE1 (continued) Not Reported (NR)

Environmental Sustainability2 (continued)

2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

ENERGY Operational Waste Diverted 148,793 125,945 85,283 90,480 145,271

(Company) (U.S. Tons)26
Total Energy (MWh)21 6,444,227 5,727,672 3,907,990 4,438,061 5,962,270
Percentage of Operational Waste Diverted 58% 56% 60% NR NR
Total Electricity (MWh) 2,150,246 1,978,499 NR NR NR
from Landfill and Incineration
Percentage Grid Electricity22 33% 35% 48% 42% NR (Parks, Resorts, and Cruise Line)27

Total Zero Carbon Electricity (MWh)23 792,866 NR NR NR NR Operational Waste Sent to Landfill 84,714 80,784 45,059 NR NR
(Parks, Resorts, and Cruise Line) (U.S. Tons)27
Zero Carbon Electricity from Grid (MWh) 584,323 NR NR NR NR
Renewable Electricity from 49,948 100,000 NR NR NR WATER (BILLIONS OF GALLONS)28
Unbundled RECs (MWh)
Total Water Consumption 9.41 8.00 6.71 NR NR
Renewable Electricity from Utility Green 157,115 118,145 NR NR NR
Potable Water Consumed 7.26 6.16 5.09 4.99 6.53
Power Programs (MWh)
Non-Potable Water Consumed 2.15 1.84 1.62 NR NR
Renewable Electricity from Owned Solar 1,480 983 NR NR NR
(MWh)
SUSTAINABLE DESIGN25, 29
Percentage Zero Carbon Electricity23 37% 34% 30% NR NR
Percentage of Construction Waste Diverted from 90% 95% 96% NR NR
Percentage Renewables 24
5.5% 4.4% 5.3% 7.0% NR Landfill and Incineration
Renewable Fuel (MWh) 145,549 33,015 NR NR NR Construction Waste Generated (U.S. Tons) 89,925 100,536 62,332 NR NR
Construction Waste Sent to Landfill (U.S. Tons) 8,963 4,997 2,183 NR NR
WASTE25
Construction Waste Diverted (U.S. Tons) 80,962 95,538 60,148 NR NR
Percentage of Operational Waste Diverted 61% 58% 61% 60% 57%
from Landfill and Incineration (Company)26
MATERIALS
Operational Waste Generated 244,363 215,423 138,785 152,048 252,744
(Company) (U.S. Tons)26 Facilities that participate in > 50% NR NR NR NR
Higg Index or maintain a sustainable
Operational Waste Sent to Landfill 92,232 87,190 53,248 59,268 103,115 manufacturing certification30
(Company) (U.S. Tons)26
67 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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FISCAL 2023 DATA TABLE1 (continued) Not Reported (NR)

Social Impact
2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

CHARITABLE GIVING VOLUNTEERING

Charitable Giving $86.1 $97.1 $87.1 $80.4 $107.0 VoluntEARS Hours34 483,600 480,000 341,500 321,700 612,300
(cash contributions, in millions)31
Charitable Giving $149.0 $136.2 $206.6 $252.7 $231.2
(in-kind donations, in millions)32
Total Charitable Giving $235.1 $233.3 $293.7 $333.1 $338.2
(cash and in-kind donations, in millions)31, 32
Charitable Giving to Programs Supporting $145.3 $140.3 $153.8 NR NR
Underrepresented Communities
(cash and in-kind donations, in millions)31, 32, 33

Workforce
2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

EMPLOYMENT & EMPLOYMENT STATUS35 TRAINING, DEVELOPMENT, AND COMPETITIVE PAY

Global Employees36, 37 225,000 220,000 190,000 203,000 224,000 Trainings Offered (unique)38, 39 22,800 22,100 20,000 24,000 13,700
Casual Seasonal (global)36 7% 7% 5% 1% 7% Number of Trainings Taken38 2,100,000 2,200,000 2,050,000 1,590,000 1,600,000
Casual Ongoing (global)36 16% 15% 16% 19% 18% Median Wage Earnings for U.S. Disney $19/hour $17.50/hour $17/hour $17/hour NR
Experiences Hourly Employees40
Full-Time (global)36 77% 78% 79% 80% 75%
Percentage of Employees Covered by 55% 53% 54% 54% 50%
Collective Bargaining Agreements (U.S.)
68 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW DATA TABLE SASB INDEX TCFD INDEX SDG INDICATORS

FISCAL 2023 DATA TABLE1 (continued)

Workforce Representation35, 41, 42, 43, 44

2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

OVERALL WORKFORCE MANAGER

Women (global) 51.2% 50.9% 50.3% 50.9% 50.9% Women (global) 45.0% 44.5% 43.3% 42.8% 42.6%
People of Color (U.S.) 46.1% 46.7% 46.3% 46.1% 45.6% People of Color (U.S.) 33.0% 32.0% 30.2% 29.3% 29.3%
Asian (U.S.) 7.4% 7.4% 7.4% 7.3% 7.2% Asian (U.S.) 10.9% 10.8% 10.3% 10.0% 10.1%
Black or African American (U.S.) 8.0% 8.1% 8.6% 8.4% 8.4% Black or African American (U.S.) 5.6% 5.6% 5.6% 5.2% 5.0%
Hispanic or Latino (U.S.) 27.3% 27.9% 27.0% 27.1% 26.7% Hispanic or Latino (U.S.) 13.4% 12.7% 11.7% 11.6% 11.8%
Native American or Alaskan Native (U.S.) 0.3% 0.3% 0.3% 0.3% 0.3% Native American or Alaskan Native (U.S.) 0.3% 0.3% 0.3% 0.2% 0.2%
Native Hawaiian or Pacific Islander (U.S.) 0.7% 0.6% 0.6% 0.7% 0.7% Native Hawaiian or Pacific Islander (U.S.) 0.5% 0.5% 0.4% 0.4% 0.4%
White (U.S.) 45.4% 47.3% 50.9% 51.1% 51.5% White (U.S.) 64.5% 65.6% 67.8% 69.3% 69.3%
Two or More Races (U.S.) 2.5% 2.4% 2.3% 2.4% 2.3% Two or More Races (U.S.) 2.2% 2.1% 1.8% 1.8% 1.8%
Not Disclosed (U.S.) 8.5% 5.9% 2.7% 2.7% 2.9% Not Disclosed (U.S.) 2.5% 2.3% 2.0% 1.3% 1.4%

EXECUTIVE BELOW MANAGER

Women (global) 45.6% 45.5% 43.3% 41.8% 40.9% Women (global) 52.4% 52.2% 51.9% 52.7% 52.8%
People of Color (U.S.) 28.5% 27.5% 24.7% 22.5% 21.2% People of Color (U.S.) 48.9% 50.0% 50.0% 49.8% 49.3%
Asian (U.S.) 11.5% 11.1% 10.2% 9.6% 9.0% Asian (U.S.) 6.6% 6.7% 6.8% 6.8% 6.6%
Black or African American (U.S.) 7.0% 6.8% 6.0% 4.9% 4.4% Black or African American (U.S.) 8.5% 8.5% 9.3% 9.0% 9.1%
Hispanic or Latino (U.S.) 7.4% 7.1% 6.3% 6.1% 6.1% Hispanic or Latino (U.S.) 30.3% 31.3% 30.5% 30.4% 30.1%
Native American or Alaskan Native (U.S.) 0.1% 0.2% 0.2% 0.3% 0.2% Native American or Alaskan Native (U.S.) 0.3% 0.3% 0.3% 0.3% 0.3%
Native Hawaiian or Pacific Islander (U.S.) 0.3% 0.3% 0.2% 0.2% 0.2% Native Hawaiian or Pacific Islander (U.S.) 0.7% 0.7% 0.7% 0.7% 0.7%
White (U.S.) 68.8% 69.9% 73.3% 76.1% 77.1% White (U.S.) 41.4% 43.3% 47.2% 47.2% 47.5%
Two or More Races (U.S.) 2.2% 2.1% 1.8% 1.4% 1.3% Two or More Races (U.S.) 2.5% 2.5% 2.5% 2.5% 2.4%
Not Disclosed (U.S.) 2.7% 2.3% 1.9% 1.4% 1.6% Not Disclosed (U.S.) 9.7% 6.6% 2.9% 3.0% 3.2%
69 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW DATA TABLE SASB INDEX TCFD INDEX SDG INDICATORS

FISCAL 2023 DATA TABLE1 (continued) Not Reported (NR)

Content Representation35, 41, 43, 44

2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

SCRIPTED TELEVISION AND FILM45 NEWS AND SPORTS46

DIRECTORS ON AIR

People of Color 45.5% 42.0% 39.0% 33.5% NR People of Color 42.2% 42.1% 40.7% 39.6% NR
Women 41.7% 45.1% 42.2% 40.3% NR Women 33.9% 34.3% 34.4% 33.4% NR

SERIES REGULARS / LEADS BEHIND THE CAMERA

People of Color 50.8% 49.1% 47.0% 45.4% NR People of Color 33.2% 32.4% 31.2% 29.2% NR
Women 44.1% 46.7% 47.3% 45.9% NR Women 38.8% 38.2% 38.2% 38.6% NR

PRODUCERS

People of Color 27.5% 24.9% 22.9% 22.8% NR

Women 37.6% 37.1% 37.4% 35.3% NR

WRITERS

People of Color 38.4% 39.0% 33.2% 31.4% NR

Women 46.2% 48.4% 42.7% 42.1% NR
70 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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FISCAL 2023 DATA TABLE1 (continued) Not Reported (NR)

Supply Chain
2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

FACILITY FOOTPRINT47, 48 REMEDIATION49, 50

Aggregate Number of Facilities Manufacturing 43,500 44,000 43,700 43,300 42,500 Percentage of Audits with Findings Identified for Remediation
Disney-Branded Products During the Fiscal Year
Child Labor < 1% < 1% 1% < 1% 1%
Total Number of Countries 99 106 103 99 101
Involuntary Labor < 1% < 1% < 1% < 1% 1%
Number of Countries with 1% or Less of 83 90 87 86 88
Coercion and Harassment < 1% < 1% < 1% < 1% < 1%
Total Facilities
Non-Discrimination < 1% < 1% < 1% < 1% 1%
FACILITY FOOTPRINT: COUNTRY DATA47, 48
Association 1% < 1% < 1% < 1% 1%
Number of Facilities Manufacturing Disney-Branded Products by Country: # (% of total)
Health and Safety: Factory 85% 85% 85% 87% 85%
China 12,950 (30%) 12,510 (28%) 12,070 (28%) 11,640 (27%) 11,210 (26%)
Health and Safety: Dormitory 2% 2% 2% 2% 3%
Japan 8,170 (19%) 8,110 (18%) 8,210 (19%) 8,050 (19%) 7,960 (19%)
Compensation: Minimum Wage 2% 2% 4% 5% 6%
USA 5,750 (13%) 5,630 (13%) 5,540 (13%) 5,470 (13%) 5,200 (12%)
Compensation: Overtime Wage 4% 3% 5% 7% 10%
South Korea 1,970 (5%) 2,100 (5%) 2,120 (5%) 2,090 (5%) 1,900 (4%)
Compensation: Overtime Hours 70% 68% 70% 71% 68%
Brazil 1,320 (3%) 1,570 (4%) 1,510 (4%) 1,460 (3%) 1,520 (4%)
Compensation: Social Benefits 64% 63% 64% 65% 63%
Taiwan 1,260 (3%) 1,270 (3%) 1,360 (3%) 1,340 (3%) 1,300 (3%)
Protection of the Environment 18% 22% 24% 28% 30%
India 1,240 (3%) 1,340 (3%) 1,240 (3%) 1,120 (3%) 1,100 (3%)
Other Laws 14% 15% 17% 20% 22%
Italy 1,030 (2%) 1,200 (3%) 1,290 (3%) 1,380 (3%) 1,370 (3%)
Subcontracting 1% < 1% 1% 1% 2%
Turkey 870 (2%) 960 (2%) 880 (2%) 780 (2%) 670 (2%)
Monitoring and Compliance 5% 4% 4% 5% 6%
France 870 (2%) 850 (2%) 870 (2%) 920 (2%) 930 (2%)
Publication 2% 2% 1% 2% 3%
United Kingdom 750 (2%) 770 (2%) 780 (2%) 880 (2%) 930 (2%)
Portugal 740 (2%) 720 (2%) 750 (2%) 870 (2%) 810 (2%) FACILITY AUDITS49, 50

Vietnam 580 (1%) 560 (1%) 550 (1%) 1% or less 1% or less Percentage of Supplier Facilities Audited 37% 35% 34% 32% NR

Germany 480 (1%) 490 (1%) 520 (1%) 610 (1%) 640 (2%) Percentage of Audits Conducted by 97% 97% 96% 94% NR
a Third-Party Auditor
Poland 460 (1%) 500 (1%) 530 (1%) 1% or less 1% or less
Spain 460 (1%) 450 (1%) 470 (1%) 1% or less 1% or less
All Other Facilities (in countries with 4,600 (10%) 4,970 (11%) 5,010 (10%) 6,690 (15%) 6,960 (16%)
< 1% of total facilities)
71 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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FISCAL 2023 DATA TABLE1 (continued)

Supply Chain (continued) Healthy Living52

2023 2022 2021 2020 2019 2023 2022 2021 2020 2019

SUPPLIER DIVERSITY51 Percentage of Disney-Licensed Wholesale Food Sales Dedicated to Everyday Foods that Meet Our Nutrition Guidelines

Total Spend with Minority, Woman, Disabled, $1,054.1 $803.6 $449.0 $438.7 $590.8 Global Meets Meets Meets 84% Meets
U.S. Veteran, Service-Disabled U.S. Veteran, 85% 85% 85% 85%
U.S. Military Spouse, and LGBTQIA+-owned Target Target Target Target
Business Enterprises (in millions)
North America Meets Meets Meets Meets Meets
85% 85% 85% 85% 85%
Target Target Target Target Target

Footnotes

General available in calculating carbon credit retirements, total emissions, and 10 Hybrid methodology uses a combination of supplier-specific 18 Site-specific methodology involves identifying site-specific fuel
net emissions. Scope 2 emissions (market-based) include emission activity and/or emission data (where available) and secondary and electricity, and applying the appropriate emission factors.
1 Disney’s fiscal year ends on the Saturday closest to September 30. reductions attributed to utility green power purchases, power data to fill the gaps. 19 Franchise-specific methodology involves collecting site-specific
purchase agreements, and unbundled energy attribute certificates. 11 Average data methodology estimates emissions for goods and activity data or Scope 1 & 2 emissions data from franchisees.
Environmental Sustainability Our approach to carbon credits can be found in our Natural Climate services by collecting data on the mass (e.g., kilograms or pounds) or
Solutions White Paper. We will have achieved our 2030 “net zero 20 Asset-specific methodology involves collecting asset-specific
2 Some previously published environmental data have been other relevant units of goods or services purchased, and multiplying (e.g., site-specific) fuel and energy use data, or Scope 1 & 2
emissions” goal when “net emissions,” as defined above, equals 0. by the relevant secondary (e.g., industry average) emission factors
restated to reflect corrections, updates to methodology, and/or emissions data from individual assets.
changes in emission factors. 7 Carbon credits are from projects developed according to (e.g., average emissions per unit of good or service).
recognized standards (e.g., Climate Action Reserve, Verified 21 Total energy includes electricity, natural gas, chilled water, hot water,
3 Greenhouse Gas Emissions (GHG) are measured and calculated 12 Average product methodology involves estimating emissions for steam, compressed air, renewable energy, and fuels. Fiscal 2019
Carbon Standard, Gold Standard) and are retired annually. All goods by collecting data on the mass or other relevant units of
according to the principles in the World Resources Institute and through fiscal 2021 data exclude energy from Productions.
credits are verified by accredited third-party reviewers. goods purchased and multiplying by relevant secondary (e.g.,
the World Business Council for Sustainable Development
Greenhouse Gas Protocol’s “A Corporate Accounting and Reporting 8 Scope 3 emissions calculations follow guidance provided by the industry average) emission factors (e.g., average emissions per unit of 22 Percentage grid electricity is purchased electricity consumption
Standard, 2004 Revised Edition” (“GHG Protocol”). GHG Protocol. In many instances, these emissions calculations are good). divided by total energy consumption
based on estimated and extrapolated data and rely on third-party 13 Fuel-based methodology involves determining the amount of fuel 23 We define zero carbon electricity as any type of electricity
4 The boundary for Disney’s GHG emissions reporting includes
emission factor databases and industry averages. We expect to consumed (i.e., Scope 1 & 2 emissions of transport providers) and generation that does not generate GHGs, such as solar, wind,
owned and operated assets (such as theme parks & resorts, Disney
make continual improvements to Scope 3 estimates over time, applying the appropriate emission factor for that fuel. geothermal, nuclear, and large-scale hydropower. Percentage zero
Cruise Line, and commercial spaces), leased assets (such as office
including updates to assessments of business activities and activity carbon electricity is zero carbon electricity consumption divided
locations), as well as Productions (including feature films, television, 14 Distance-based methodology involves determining the mass,
boundaries, and improvements in input data and emission factors. by total electricity consumption.
theatricals, and sporting events). Direct CO2 emissions from distance, and mode of each transportation activity, then
As a result of current data availability, methodologies, and business
biogenic fuels are not included in the Scope 1 totals. They are as applying the appropriate vehicle-distance, mass-distance, or 24 Percentage renewables is renewable energy consumption
processes, the most recent Scope 3 emissions data are reported for
follows: Fiscal 2019: 29,146 MT CO2e; Fiscal 2020: 16,799 MT passenger-distance emission factor for the vehicle used. divided by total energy consumption. Renewable energy
the previous fiscal year (and thus are reported for fiscal 2022 as
CO2e; Fiscal 2021: 22,662 MT CO2e; Fiscal 2022: 4,890 MT CO2e; consumed includes renewable fuels and renewable electricity
the most recent available data for this report). Scope 3 emissions 15 Waste-type specific methodology involves using emission factors
Fiscal 2023: 36,393 MT CO2e. that we produce or purchase and match with Renewable
are part of Disney’s science-based target that was validated by SBTi. for specific waste types and waste treatment methods.
5 A third-party validator has provided limited assurance of our Energy Certificates (RECs) or Guarantees of Origin (GOs).
In order to monitor progress against this target, fiscal year 2019 is
scope 1 & 2 GHG emissions since fiscal 2019, and scope 3 GHG 16 Emissions within this category were evaluated and determined The renewable portion of the electricity grid mix for which we
used as the baseline year and hence data for fiscal 2019 is
emissions for fiscal 2019 and fiscal 2022. More information is not to be relevant. Activities identified as downstream do not possess RECs or GOs is not included in this calculation.
reported; data for fiscal years 2020 and 2021 will not be reported.
available in our Emissions Verification statements. transportation and distribution do not result in significant 25 Waste diverted includes waste prevention, donations, recycling,
9 Spend-based methodology estimates emissions for goods and Scope 3 emissions for the company.
6 We define “net emissions” and “net zero emissions” for our 2030 compost, anaerobic digestion, and thermal waste-to-energy. Total
services by collecting data on the economic value of goods and
goals as follows: Scope 1 emissions + Scope 2 emissions (market- 17 Emissions within this category were evaluated and determined not waste generated includes diverted waste, waste sent to landfill, and
services purchased and multiplying that by relevant secondary
based) – carbon credits. Market-based emissions are used where to be relevant. The company does not have any activities that it incineration without energy recovery. Incineration without energy
(e.g., industry average) emission factors (e.g., average emissions
characterizes as intermediate goods. recovery is not counted in total waste sent to landfill or total waste
per monetary value of goods).
diverted—thus the two do not sum to total waste generated.
72 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW DATA TABLE SASB INDEX TCFD INDEX SDG INDICATORS

FISCAL 2023 DATA TABLE1 (continued)

Footnotes

26 For total company operational waste data, facilities include theme and protected communities varies by organization and we include 41 Headcount not reported in Women includes Men, Nonbinary 48 Facility footprint data include all facilities authorized to
parks & resorts, Disney Cruise Line, ESPN, enterprise-owned grants to organizations where a percentage of its services reaches (where collected), and Non-Disclosed. manufacture Disney-branded products at any point during
commercial and office spaces, and Pixar. Excluded are all leased underrepresented and protected communities. If the organization 42 Headcount excludes dailies, freelancers, contractors, casual seasonal, the fiscal year. With respect to TFCF intellectual property,
properties, Disney Stores and Distribution Centers, TV stations, and spends a majority of its efforts on one or more underrepresented or interns, and domestic Disney employees not paid in the last 60 days. as contracts are newly executed, renewed, or amended with
all construction materials. protected community, we count the entire grant; if the organization Domestic counts exclude Disney Cruise Line Shipboard. Percentages respect to the manufacturing of products, the facilities
27 The boundary for this metric is Walt Disney World, Disneyland does not spend a majority, we count a proration of the grant. We for women based on global full- and part-time headcount. producing such goods fall under the purview of the Disney
Resort, Disneyland Paris, and Disney Cruise Line. rely on each organization’s self-reported percentages regarding Percentages for People of Color include U.S.-based full- and part- ILS Program and are included in the facility footprint data.
communities served. On a sample basis, we validate the percentages time employees only. People of Color includes employees who are Aggregate facility data and country facility data are
28 The boundary for Disney’s water consumption includes owned and that we report. approximate and rounded.
operated assets (theme parks & resorts, Disney Cruise Line, owned Asian American, Black or African American, Hispanic or Latino,
commercial and office spaces, Studios, and ESPN). Water consumption 34 Disney VoluntEARS data include hours logged by Disney Native American or Alaskan Native, Native Hawaiian or Pacific 49 Disney uses the World Bank’s Governance Indicators as the
from Disney Stores and leased assets is excluded. Water data for employees and are rounded. Islander, or Two or More Races. primary resource for identifying and comparing areas of risk
Shanghai Disney Resort were not included in data prior to fiscal 2021. 43 “Executive” includes employees at the Director level and above. and determining where to focus our monitoring resources
“Manager” includes employees at Manager levels. “Below Manager” and requirements. More information is available in our
29 Construction diversion rate includes data from annual facility asset Workforce & Representation
includes employees that do not meet Executive or Manager criteria. Permitted Sourcing Countries Policy.
planning construction projects and construction for new assets that 35 Employee statistics generally reflect our employment base at the
became operational in the reporting year, in the U.S. and Europe only. In fiscal 2021 and prior, Twenty-First Century Fox (TFCF) Directors 50 Fiscal 2023 supplier audit data include suppliers beyond Tier 1.
end of each fiscal year. were included in Manager. Fiscal years prior to 2023 included only Tier 1 suppliers. The
30 Only includes facilities utilized by vendors to manufacture Disney- 36 Headcount excludes dailies, freelancers, contractors, and domestic Disney ILS Program works toward ongoing and sustainable
branded products for U.S. Disney stores, U.S. Theme Park 44 Content Representation headcount not reported in People of Color
Disney employees not paid in the last 60 days. improvement in working conditions at facilities producing
Merchandise, and disneystore.com. The Higg Index is a suite of tools includes White and Non-Disclosed.
37 Employee numbers are rounded to the nearest thousand. Disney-branded products. All Code of Conduct violations
for the measurement of value chain sustainability. The Higg Facility 45 Data are limited to content developed by Disney and exclude identified in active facilities as the result of audits or
Environmental Module (Higg FEM) tool assesses environmental 38 Learning-related data are approximate and rounded. Data reflect Daytime, unscripted, global content developed in region, and Star. assessments must be corrected or remediated within the time
impacts of product manufacturing at facilities. courses offered through our top learning platforms: D Learn, Data are not available for fiscal 2019. Fiscal 2023 data consist of: periods and in the manner established by the Disney ILS
Harvard Spark, Harvard ManageMentor, and Harvard Leading Edge. Studios data (which includes Walt Disney Pictures, Walt Disney Program as a condition of continued use of the facility for the
D Learn data represent all employees, excluding Pixar and contract Animation Studios, Pixar, Marvel Studios, Lucasfilm, 20th Century production of Disney-branded products.
Social Impact workers for all years and Hulu employees prior to fiscal 2021. Data Studios, and Searchlight Pictures), reflecting a slate of 42 content
31 Charitable cash contributions include company-directed charitable incorporate both required and non-required courses, including films and consisting of all content titles (episodic, film, and series) 51 Supplier diversity data include Tier 1 spend for all years shown,
cash donations, which includes contributions made by the Disney online courses, orientations, in-person classes, and on-demand greater than 1 hour in total length; and Disney Entertainment plus Tier 2 spend for fiscal year 2023, with firms that have
Conservation Fund, as well as employee-directed Matching Gifts content. Participants can attend more than one course and may Television data (which include 20th Television, ABC Signature, obtained certification from a third-party agency as being at
grants and Disney VoluntEARS Grants. view online content more than once, depending on their ABC Entertainment, Disney Branded Television, Freeform, FX, Hulu least 51% owned, controlled, and operated by a Person of Color,
individual needs. Originals, National Geographic, and ONYX Collective), reflecting a woman, disabled person, veteran, service-disabled veteran,
32 In-kind support refers to noncash contributions comprising tangible veteran spouse, or LGBTQIA+ person. In fiscal 2023, Tier 1
items or non-tangible support. Donations may include, but are not 39 Data represent the number of unique courses offered. Prior to fiscal slate of 77 episodic scripted series.
spend was $817.8 million and Tier 2 spend was $236.3 million.
limited to, estimated values for merchandise, theme park tickets, food, 2022, this metric measured the number of scheduled classes of a 46 News and Sports Representation percentages include U.S.-based We validate diverse status through certification compliance
public service announcements (PSAs), character/talent appearances, unique course. Methodology was updated to better reflect unique executive, project hire, and full- and part-time employees. Data using WBENC, NMSDC, Department of Veterans Affairs,
and other noncash charitable support. Due to differences in courses offered vs. courses consumed. exclude contingent workers, student programs, daily employees, NGLCC, and Disability:IN.
distribution, viewership, programming, availability, pricing, 40 Employees earn minimum wage or higher. Almost all hourly and seasonal employees.
marketplace demand, and other variables, PSAs are valued differently full-time and part-time nontipped employees in our U.S. Disney
across our media platforms. For example, in some cases, PSAs are Healthy Living
Experiences business earn a base rate of $17/hour or more, Supply Chain
valued based on an average sales price for the time period. In other excluding Walt Disney World College Program participants 52 Healthy Living licensing results do not include TFCF
cases, the value is based on an average sponsor value across a daypart (this program is not comparable to other employment 47 The supply chain for Disney-branded products experiences routine businesses prior to fiscal 2022.
rotation. Therefore, we do not use a single method to value PSAs. opportunities, as it includes other benefits such as housing and fluctuations in active facilities. In any given year, a significant number
33 Charitable giving that we report includes grants directed transportation), Disney Stores in select regions, and temporary of new facilities may become authorized to produce Disney-branded
toward historically underrepresented and protected communities, daily hires. Median earnings for hourly employees are based on products, which complicates any year-to-year comparison. In fiscal
including Asian American & Pacific Islander, Black & African total earnings for total hours paid and include the impact of 2023, the facility count shown includes approximately 1,600 beyond
American, Hispanic & Latino, Native American & Indigenous, overtime, shift premiums, and gratuities. This excludes the value Tier 1 that are subject to the purview of the Disney International
LGBTQIA+, People with Disabilities, veterans, and women of benefits for eligible employees. Labor Standards (ILS) program.
communities. The percentage of services reaching underrepresented
73 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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SASB INDEX

The Sustainability Accounting Standards Board (SASB) Standards, now part of the International
Financial Reporting Standards (IFRS) Foundation, provides industry-specific standards to guide the
disclosure of sustainability information by companies to their investors. The following index maps our
disclosures to certain SASB indicators. Given our broad array of businesses that span multiple industries
around the globe, we have focused this year’s reporting on the recommended indicators for the
“Media & Entertainment” and “Internet Media & Services” industries. Where relevant, we also highlight
select information relevant to the “Leisure Facilities,” “Hotels & Lodging,” “Restaurants,” “Cruise Lines,”
“Apparel, Accessories, and Footwear,” and “Toys & Sporting Goods” industries. As our businesses
continue to grow and evolve, we expect to advance and refine our disclosures over time. Metrics
and disclosures are reported on an enterprise-wide level, unless otherwise indicated.

TOPIC ACCOUNTING METRIC(S) LOCATION/RESPONSE SASB CODE

GREENHOUSE GAS EMISSIONS Gross Global Scope 1 emissions • Fiscal 2023 Data Table & Data Table Footnotes, pp. 65, 71–72 TR-CL-110a.1

Discussion of long-term and short-term strategy or • 2030 Environmental Goals White Paper TR-CL-110a.2
plan to manage Scope 1 emissions, emissions • 2023 CDP Climate Change Survey Response
reduction targets, and an analysis of performance • Emissions, pp. 42–45
against those targets

ENERGY MANAGEMENT (1) Total energy consumed, • (1, 2, 3) Fiscal 2023 Data Table & Data Table Footnotes, pp. 66, 71 TC-IM-130a.1;
(2) percentage grid electricity, and SV-LF-130a.1;
(3) percentage renewable SV-HL-130a.1;
FB-RN-130a.1

WATER MANAGEMENT (1) Total water withdrawn, • (1, 2) Fiscal 2023 Data Table & Data Table Footnotes, pp. 66, 72 TC-IM-130a.2;
(2) total water consumed; percentage of each in • We are disclosing the total potable water consumption and total non-potable water consumption at this time and will assess the expansion of SV-HL-140a.1;
regions with High or Extremely High Baseline our disclosures in future reporting. FB-RN-140a.1
Water Stress

WASTE MANAGEMENT (1) Total amount of waste, • (1, 3) Fiscal 2023 Data Table & Data Table Footnotes, pp. 66, 72 FB-RN-150a.1
(2) percentage food waste, and • (2) Not reported
(3) percentage diverted
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SASB INDEX (continued)

TOPIC ACCOUNTING METRIC(S) LOCATION/RESPONSE SASB CODE

LABOR CONDITIONS IN THE Percentage of • (1) Fiscal 2023 Data Table & Data Table Footnotes, pp. 70, 72 CG-AA-430b.1
SUPPLY CHAIN (1) Tier 1 supplier facilities and • (2) Not reported
(2) supplier facilities beyond Tier 1 that have been • (3) Percentage of Tier 1 audits conducted by a third-party auditor provided in Fiscal 2023 Data Table & Data Table Footnotes, pp. 70, 72
audited to a labor code of conduct,
(3) percentage of total audits conducted by a
third-party auditor

(1) Priority non-conformance rate and • Priority nonconformance rate was 13% CG-AA-430b.2
(2) associated corrective action rate for suppliers’ • Priority nonconformance rate is defined as the percentage of audits with findings where facilities failed to meet Disneyʼs Minimum Compliance
labor code of conduct audits Standards. More information is available in our ILS Program Manual.
• Corrective action rate was 91%
• Our ILS Program Manual provides more information about expectations and timelines for corrective action.

Description of the greatest • (1, 2) Supply chain assessments identify the most common risks to be in the areas of health and safety, overtime hours, and social benefits; see CG-AA-430b.3
(1) labor and Fiscal 2023 Data Table & Data Table Footnotes, pp. 70, 72. We understand that supply chain assessments may not fully capture some
(2) environmental, health, and safety risks in the underreported issues, such as sexual harassment, forced labor, and interference with freedom of association. We continue to explore additional
supply chain methods for gaining such visibility. Our supply chain policy commitments are described in our ILS Program Manual, Human Rights Policy,
Conflict Minerals Policy, 2022 Modern Slavery Statement, and Paper Sourcing and Use Policy.
• Supply Chain, p. 15

ENVIRONMENTAL IMPACTS IN Percentage of • In 2023, > 50% of Tier 1 and beyond facilities completed the Higg FEM.† CG-AA-430a.2
THE SUPPLY CHAIN (1) Tier 1 supplier facilities and • Materials, p. 48
(2) supplier facilities beyond Tier 1 that have
completed the Sustainable Apparel Coalition’s
Higg Facility Environmental Module (Higg
FEM) assessment or an equivalent
environmental data assessment

WORKFORCE DIVERSITY Percentage of • Data in our 2022 EEO-1 aligns with SASB categories. However, we believe the information provided in our SV-ME-260a.1
(1) gender and Fiscal 2023 Data Table is more informative and reflects the various facets of Disney’s workforce. TC-IM-330a.3
(2) diversity group representation for • Fiscal 2023 Data Table & Data Table Footnotes, pp. 68, 72
(a) executive management, • Transparency & Accountability, p. 39
(b) non-executive management, • Standards of Business Conduct, p. 10
(c) professionals, and
(d) all other employees
Programs and policies for fostering equitable
employee representation across global operations

† Only includes facilities utilized by vendors to manufacture Disney-branded products for U.S. Disney stores, U.S. Theme Park Merchandise, and disneystore.com. The Higg Index is a suite of tools for the measurement of value chain sustainability. The Higg Facility Environmental Module (Higg FEM) tool
assesses environmental impacts of product manufacturing at facilities.
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SASB INDEX (continued)

TOPIC ACCOUNTING METRIC(S) LOCATION/RESPONSE SASB CODE

LABOR PRACTICES (1) Average hourly wage and • (1, 2) Fiscal 2023 Data Table & Data Table Footnotes, pp. 67, 72 SV-HL-310a.3
(2) percentage of lodging facility employees • Comprehensive Total Rewards, p. 25
earning minimum wage, by region

(1) Average hourly wage, by region and • (1, 2) Fiscal 2023 Data Table & Data Table Footnotes, pp. 67, 72 FB-RN-310a.2
(2) percentage of restaurant employees earning • Comprehensive Total Rewards, p. 25
minimum wage, by region

Description of policies and programmes to prevent • Standards of Business Conduct, pp. 9–10, 37–38 SV-HL-310a.4
worker harassment • Ethics, p. 13; Employee Safety, Health & Well-being, p. 24; Transparency & Accountability, p. 39; Human Rights, p. 14; Supply Chain, pp. 15–16

MEDIA PLURALISM Description of policies and procedures to ensuring ABC News is committed to Diversity & Inclusion. There are three pillars to ABC News’ Diversity & Inclusion efforts: SV-ME-260a.2
pluralism in news media content
• PEOPLE—Our people, at all levels, should reflect the life experiences of our audiences. This is reflected across all staffing levels,
correspondents, executives, managers, producers, writers, editors, and junior staff.
• CONTENT—Our work is relevant to a rapidly diversifying audience. This is reflected in the growth of content and story coverage that
focuses on the experiences and interests of diverse audiences at the intersection of race, politics, culture, and lifestyle.
• CULTURE—Our environment promotes curiosity, innovation, and ideas from everyone. This is reflected in a number of initiatives, including the
News Division-wide “Everyday Inclusion” program, relevant employee committees, and frequent Diversity & Inclusion workshops and discussions
programmed throughout the year.
ABC News’ commitment to the straightforward pursuit of truth drives all our work across platforms in established and new and emerging technologies. Our
success lies in our dedication to the highest-quality journalism, which means a commitment to fairness, compelling storytelling, and, of utmost importance,
uncompromising accuracy. We expect employees to approach their work with rigor, to question thoroughly and skeptically, and to analyze deeply.
We continue to build on the exceptional legacy of ABC News, upholding high standards in journalism, while also leading in innovation.
Our editorial integrity and commitment to accuracy provide the foundation for the outstanding work that we do.
• Journalistic Integrity, p. 21

JOURNALISTIC INTEGRITY & Description of approach for ensuring journalistic • (1) Truthfulness, accuracy, objectivity, fairness, and accountability: It is the mission of ABC News to inform the public on matters of interest and SV-ME-270a.3
SPONSORSHIP IDENTIFICATION integrity of news programming related to: importance to them. The credibility we have with our audience is essential to this mission and we, therefore, attach great importance to the
(continued on next page) (1) truthfulness, accuracy, objectiveness, fairness, maintenance of our fairness and integrity—both real and perceived—as we gather and report the news. Company policies on Business Ethics,
and accountability Fairness, and Insider Trading apply to all employees in every division, and those policies are particularly important to ABC News employees. We
(2) independence of content and/or transparency share responsibility for maintaining our reputation for fairness and accuracy. Action that damages that reputation, or even gives the appearance
of potential bias, and of compromising it, harms both ABC News and the individuals involved. All employees of ABC News are, therefore, required to abide by the
(3) protection of privacy and limitation of harm letter and spirit of our policies and to be alert to subtle efforts that could have the effect of compromising the integrity of ABC News.
• (2) Independence of content and/or transparency of potential bias: ABC News employees are hired to report and record news events, not to
participate in them. News employees should remain professionally detached in all situations and not take action that would be seen as favoring
one side or the other. We take particular care to act in a neutral and professional manner where the passions of others are engaged or aroused.
We must all share an uncompromising commitment to accuracy and fairness in reporting the news. We are committed to seeking out
knowledgeable and credible sources of information, as well as reaching out for and carefully evaluating comments from those accused of
wrongdoing and others with relevant information and perspectives on the matters that we are covering. When ABC News covers stories about
Disney or other affiliated or subsidiary companies, we make clear disclosures about the relationship.
76 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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SASB INDEX (continued)

TOPIC ACCOUNTING METRIC(S) LOCATION/RESPONSE SASB CODE

JOURNALISTIC INTEGRITY & • (3) Protection of privacy and limitation of harm: News staffers receive extensive guidance and training on privacy concerns and other legal SV-ME-270a.3
SPONSORSHIP IDENTIFICATION issues through legal and standards training sessions. And as a regular part of our newsgathering process, there are targeted reporting meetings
(continued) to discuss journalistic and legal issues.
Similarly, the mission of ESPN is to provide credible, timely, contextual, and trustworthy information. This mission is supported by detailed
editorial guidelines intended to protect ESPN’s journalistic credibility across platforms and with the oversight of the ESPN Editorial Board.
ESPN reviews its performance against these standards on an ongoing basis and regularly reviews and provides training on guidelines for
personnel. Ultimately, every member of the ESPN editorial teams is responsible for upholding the reputation and integrity of ESPN reporting.
• Journalistic Integrity, p. 21

NUTRITIONAL CONTENT Percentage of advertising impressions • (1) Not disclosed FB-RN-260a.3

(1) made on children and • (2) Nearly all food and beverage advertising on our media platforms oriented to kids and families meets
(2) made on children promoting products that Disney Nutrition Guideline standards.† Disney Nutrition Guideline standards are informed by national dietary guidelines and focus
meet dietary guidelines for children on limiting calories, fats, sugars, and salt while promoting consumption of fruits, vegetables, whole grains, lean protein, and low-fat dairy.
• Responsible Advertising & Marketing, p. 20

DATA PRIVACY Description of policies and practices relating to We are committed to giving customers transparency into our data collection and use practices and having robust controls over how TC-IM-220a.1
targeted advertising and user privacy we use those data.
Our guest privacy policy describes how customers’ information is collected and used, as well as the very limited circumstances under which
customer data may be shared with third parties. That policy also contains information about choices consumers must make to limit the use of their
data for targeted advertising and direct marketing purposes. More information about our guest privacy policy, as well as the control mechanisms
for limiting targeted advertising, can be found on our Privacy Center.
• Privacy, p. 19

DATA SECURITY STANDARDS Description of approach to identifying and • Our approach to Information Security is addressed in the Operating Responsibly section of this report on p. 19, and in greater detail in our TC-IM-230a.2
addressing data security risks, including use of Information Security Management System document.
third-party cybersecurity standards

INTELLECTUAL PROPERTY Description of approach to ensuring intellectual • Disney strives to foster a culture that values intellectual property protection to promote creativity, storytelling, and innovation, as well as to SV-ME-520a.1
PROTECTION & MEDIA PIRACY property (IP) protection maintain consumer trust. We engage in practices that protect Disney’s intellectual property, including our brands, characters, and content.
We also respect the intellectual property rights of others and do not knowingly use the intellectual property of third parties without
appropriate rights. Disney is committed to following intellectual property laws in the markets in which we operate and also requires all
employees to respect third-party intellectual property rights. We have also implemented internal intellectual property policies and trainings
to increase awareness and respect for intellectual property rights among all Disney employees.

† Only foods that meet Disney’s Nutrition Guideline standards may be advertised on Disney linear networks for kids, within profiles under the age of 13 on Disney+, and during content on Disney+ that is rated G and below regardless of the age of the profile.
77 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

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SASB INDEX (continued)

ACTIVITY METRIC(S) LOCATION/RESPONSE SASB CODE

Households reached by broadcast TV • The Walt Disney Company Fiscal Year 2023 10-K, pp. 7, 9 SV-ME-000.A

Subscribers to cable networks • The Walt Disney Company Fiscal Year 2023 10-K, pp. 7, 9 SV-ME-000.A

Subscribers to streaming services (“Entity-defined measure of user activity”) • The Walt Disney Company Fiscal Year 2023 10-K, pp. 42, 57 TC-IM-000.A

Number of • (1, 2) Fiscal 2023 Data Table & Data Table Footnotes, pp. 70, 72 CG-AA-000.A
(1) Tier 1 suppliers and
(2) suppliers beyond Tier 1

Total number of media productions and publications produced • The Walt Disney Company Fiscal Year 2023 10-K, p. 11 SV-ME-000.B
• The Company has a significant library of content spanning approximately 100 years of production history as well as acquired libraries.
The library of content includes approximately 5,100 live-action film titles and 400 animated film titles, as well as episodic series with four
or more seasons (approximately 75 dramas, 55 comedies, 35 non-scripted series, 15 animated series, and 10 live-action series). In addition,
the library includes approximately 100 series and 65 films that were produced for initial distribution on our DTC platforms.

Number of manufacturing facilities, • Number of manufacturing facilities provided in Fiscal 2023 Data Table & Data Table Footnotes, pp. 70, 72 CG-TS-000.B
percentage outsourced

Number of available room-nights • The Walt Disney Company Fiscal Year 2023 10-K, p. 48 SV-HL-000.A

Average occupancy rate • The Walt Disney Company Fiscal Year 2023 10-K, p. 48 SV-HL-000.B

Number of lodging facilities and the • (1, 2) The Walt Disney Company Fiscal Year 2023 10-K, pp. 13–17 SV-HL-000.D
percentage that are: • (3) Not reported
(1) managed, • Five of the hotels located in Shanghai and Hong Kong are owned via a joint venture where our ownership is less than 50%.
(2) owned and leased, • Disney Vacation Club offers ownership interest in 16 resort facilities, which are operated as hotel rooms when not occupied by
(3) franchised Vacation Club members.
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TCFD INDEX

The Task Force on Climate-related Financial Disclosures

(TCFD) developed a voluntary framework for companies DESCRIPTION OF TCFD COMPLETE TCFD RELEVANT 2023 CDP CLIMATE
TOPIC DISCLOSURE REQUIREMENT DISCLOSURE REQUIREMENT CHANGE SURVEY RESPONSES
to provide climate-related information to stakeholders.
In line with TCFD’s recommendations, each year we publicly GOVERNANCE Degree of Board oversight a) Describe the Board’s oversight of climate-related risks C1.1a, C1.1b
disclose our climate-related information primarily through our and opportunities.
CDP Climate Change survey response. In the following index, Management’s role b) Describe management’s role in assessing and managing C1.2
we provide a mapping of TCFD’s disclosure recommendations climate-related risks and opportunities.
to our CDP responses to make clear where to find comparable
information regarding how we approach and manage climate STRATEGY Climate-related risks and opportunities a) Describe the climate-related risks and opportunities the organization C2.1a, C2.3, C2.3a, C2.4, C2.4a
risks and opportunities. has identified over the short, medium, and long term.

Disney is committed to taking meaningful and measurable Impacts of risks and opportunities b) Describe the impact of climate-related risks and opportunities C2.3a, C2.4a, C3.1, C3.2a, C3.2b,
action to support a cleaner, safer, and healthier planet on the organization’s businesses, strategy, and financial planning. C3.3, C3.4
for future generations as we operate and grow our businesses. Resilience of the organization’s strategy c) Describe the resilience of the organization’s strategy, taking into C3.2, C3.2a, C3.2b
In addition to our annual response to CDP’s Climate Change consideration different climate-related scenarios, including a 2°C
survey, in late 2020 and late 2022 we launched ambitious or lower scenario.
goals to continue making progress in addressing our
environmental impacts, and in 2021 the Board delegated RISK MANAGEMENT Climate risk identification process a) Describe the organization’s processes for identifying and assessing C2.1, C2.2, C2.2a
climate-related risks.
oversight of environmental, social, and governance programs
and reporting to the Governance and Nominating Committee, Climate risk management process b) Describe the organization’s processes for managing climate-related risks. C2.1, C2.2
including with respect to environmental and sustainability
Integration with other risk management processes c) Describe how processes for identifying, assessing, and managing C2.1, C2.2
policies and initiatives. For a full description of our goals,
climate-related risks are integrated into the organization’s overall
please see our 2030 Environmental Goals White Paper. risk management.

METRICS & TARGETS Identify risk assessment metrics a) Disclose the metrics used by the organization to assess C4.2, C4.2a, C4.2b
climate-related risks and opportunities in line with its
strategy and risk management process.

Identify GHG emissions b) Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse C6.1, C6.3, C6.5
gas emissions, and the related risks.

Identify targets and risk metrics c) Describe the targets used by the organization to manage climate- C4.1, C4.1a, C4.2, C4.2a, C4.2b
related risks and opportunities and performance against targets.
79 Table of Contents Introduction & Our Approach Operating Responsibly Investing in Our People Diversity, Equity & Inclusion Environmental Sustainability Social Impact Data & Frameworks

OVERVIEW DATA TABLE SASB INDEX TCFD INDEX SDG INDICATORS

SDG INDICATORS

The United Nations Sustainable Development Goals (SDGs) are a collection of 17 global goals intended to provide a shared blueprint to achieve a better and
more sustainable future for all. The following table provides select examples of how our sustainability and social impact programs support most of the SDGs.

UN SDG 2: ZERO HUNGER UN SDG 5: GENDER EQUALITY UN SDG 10: REDUCED INEQUALITIES UN SDG 13: CLIMATE ACTION

• Supporting Communities Around the World: Donated 450,000 • Corporate Governance: Board diversity • Human Rights: Human Rights Policy • Environmental Collaborations & Memberships
meals in major U.S. cities • Human Rights: Our Human Rights Policy specifies that we do not • Supplier Diversity • Emissions
tolerate gender discrimination • People: • Sustainable Design
UN SDG 3: GOOD HEALTH AND WELL-BEING • Supplier Diversity: Women are included in our diverse suppliers – Amplifying Diverse Tech Talent • Shanghai Disney Resort Achieved LEED for Communities Platinum
sourcing process – Elevating Our Everyday Heroes • Nature
• Human Rights: Management of chemicals is part of our • Equitable Pay: Our 2023 adjusted pay ratio analysis includes gender – Expanding Reach to Broader Communities
Human Rights Policy • Employee Benefits: Reproductive health and family planning services • Culture: UN SDG 14: LIFE BELOW WATER
• Supply Chain: Management of chemicals is part of our • Amplifying Diverse Tech Talent: CODE:Rosie – Employee-Led Groups • Sustainable Seafood
supplemental health & safety guide • Expanding Access to Opportunities Behind the Camera – Heritage & Identity Celebrations • Nature:
• Product Safety: Management of chemicals in consumer products • Charitable Giving: In fiscal 2023, ~62% of our charitable – Elevating Disability & Accessibility – Excellence in Animal Care: Replenishing tropical fish stocks
• Promoting Healthy Food Choices giving was directed to programs supporting underrepresented • Content: – The Great Reef Census
• Mental Health: Our Employee Assistance Program supports communities, including women – Expanding Access to Opportunities Behind the Camera – Commitment to Conservation in Florida
emotional well-being • Celebrating with Our Communities: Women Who Code panel – Accessible Content – Connecting with the Planet Through Stories: Keep Our
• Employee Well-Being: Disney’s Center for Living Well provides • Transparency & Accountability: Employee diversity – Accessible Experiences & Products Oceans Amazing campaign
high-quality healthcare for employees and their families • Supporting Communities Around the World: Empowering – Spotlight: Mickey’s Toontown at Disneyland Resort
• Employee Benefits: Adolescent Girls Reimagined with Accessibility in Mind UN SDG 15: LIFE ON LAND
– Benefits include mental and reproductive health services • Community:
– Celebrated Global Well-Being Week • Watershed Investments
UN SDG 6: CLEAN WATER AND SANITATION – Charitable Giving: In fiscal 2023, ~62% of our charitable
giving was directed to programs supporting underrepresented • Shanghai Disney Resort Achieved LEED for Communities Platinum
UN SDG 4: QUALITY EDUCATION • Watershed Investments • Nature
• Water Conservation communities
• Digital Wellness & Responsible Content: Digital wellness – Celebrating with Our Communities
• Sustainable Design UN SDG 16: PEACE, JUSTICE AND STRONG INSTITUTIONS
education grants – Building the Next Generation of Leaders
• Shanghai Disney Resort Achieved LEED for Communities Platinum
• Investing in Our People Through Education – Celebrating Neurodivergent Talent • Ethics: Our Standards of Business Conduct
• Amplifying Diverse Tech Talent: CODE:Rosie UN SDG 7: AFFORDABLE AND CLEAN ENERGY • Transparency & Accountability: Employee diversity • Human Rights: Human Rights Policy
• Expanding Reach to Broader Communities: • Disney Future Storytellers • Supply Chain: International Labor Standards and Supply Chain
– Through Disney on the Yard’s Innovation Challenge, • Pathway to Net Zero Emissions for Direct Operations • Supporting Communities Around the World Investment Program
students pitch their innovative ideas, receive mentorship, • Examples of Using Our Five Key Levers to Work Toward Our – Celebrating Children’s Day
and can win scholarships 2030 Emissions Target for Direct Operations – Empowering Adolescent Girls UN SDG 17: PARTNERSHIPS FOR THE GOALS
– Launched an apprenticeship program with our Black Business • Reducing Scope 3 Emissions and Engaging Suppliers – ESPN Supporting Athletes of All Abilities
Employee Resource Group from Brazil • Sustainable Design • Stakeholder Engagement & Participation
– Preparing Early Education Kits
• Expanding Access to Opportunities Behind the Camera: • Shanghai Disney Resort Achieved LEED for Communities Platinum • Supply Chain: Supply Chain Investment Program
– Launched Star Imagine UK short film incubator program UN SDG 11: SUSTAINABLE CITIES AND COMMUNITIES • Digital Wellness & Responsible Content
– The Independent Imaginar Producers Residency UN SDG 8: DECENT WORK AND ECONOMIC GROWTH • Content:
• Sustainable Design – Expanding Access to Opportunities Behind the Camera (Star
– Made contributions to Exceptional Minds • Human Rights • Shanghai Disney Resort Achieved LEED for Communities Platinum Imagine UK incubator, Film Independent Imaginar Producers
• Community • Supply Chain: International Labor Standards and Supply Chain • Providing Disaster Relief Residency, Exceptional Minds contribution)
• Delivering Joy Through the Power of Disney Characters Investment Program
and Stories: Delivered 40,000 National Geographic-themed – Accessible Content
• Supplier Diversity UN SDG 12: RESPONSIBLE CONSUMPTION AND PRODUCTION – Accessible Experiences & Products
STEM toys and books • Workplace Safety
• Disney Future Storytellers: • Product Safety: Management of chemicals in consumer products • Community
• Equitable Pay • Environmental Collaborations & Memberships
– Mentoring students with FIRST • Wages for Hourly Employees • Water Conservation
– Disneyʼs American Indian College Fund Scholarship Program • Waste • Nature
• Investing in Our People Through Education
• Supporting Communities Around the World: • Employee Learning Platforms • Materials
– Celebrating Children’s Day • Amplifying Diverse Tech Talent • Sustainable Design
– Preparing Early Education Kits • Expanding Reach to Broader Communities: Launched an apprenticeship • Shanghai Disney Resort Achieved LEED for Communities Platinum
– Empowering Adolescent Girls program with our Black Business Employee Resource Group from Brazil
• Inspiring Reading Throughout the Year: Donations to First Book • Expanding Access to Opportunities Behind the Camera: Made
contributions to Exceptional Minds to support neurodiverse talent
• Community
• Disney Future Storytellers
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