Walt Disney World Resort Executives to Submit Proposal for Phased Reopening of Parks

The Walt Disney Company (NYSE: DIS) announced that Walt Disney World Resort executives will submit a proposal tomorrow, May 27, to the Orange County Economic Recovery Task Force in Florida for a phased reopening of the resort’s theme parks. Jim MacPhee, Senior Vice President of Operations, Walt Disney World Resort, will give a virtual presentation of the proposed approach during tomorrow’s online meeting of the Task Force, which begins at 10 a.m. EDT/7:00 a.m. PDT.

To view the meeting live on Orange TV, please visit the following website: https://www.orangecountyfl.net/OpenGovernment/OrangeTVVisionTV/OrangeTVLive.aspx#.XswtSC3-2u4

Forward-Looking Statements

Certain statements in this communication may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our business and operational proposals and plans and other statements that are not historical in nature. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including business decisions, as well as from developments beyond the Company’s control, including:

• changes in domestic and global economic conditions, competitive conditions and consumer preferences;
• adverse weather conditions or natural disasters;
• health concerns;
• regulatory, political, or military developments;
• labor markets and activities; and

each such risk includes the current and future impacts of, and is amplified by, COVID-19 and related mitigation efforts.

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

• demand for our products and services; and
• our business and operational plans for Walt Disney World Resort.

Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended September 28, 2019 under Item 1A, “Risk Factors,” Item 7, “Management’s Discussion and Analysis,” Item 1, “Business,” and subsequent reports, including, among others, quarterly reports on Form 10-Q and Current Reports on Forms 8-K, which factors should be read together with this communication.

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Jacquee Wahler [e-mail] [phone]

David Jefferson [e-mail] [phone]