On January 31, 2023, The Walt Disney Company filed a preliminary proxy statement soliciting proxies and urged the shareholders to vote against a shareholder proposal, that each provision or amendment of the bylaws of the Company approved by the Board of Directors of the Corporation (and not the Corporation's stockholders) subsequent to March 20, 2019 and prior to the approval of this resolution be, and hereby is, repealed, effective as of the time this resolution is approved by the Corporation's stockholders, submitted by The Trian Group at the Company's annual shareholders meeting.