Slide 1: 2nd Quarter 2026 Results
2nd Quarter 2026 Results J U LY 2 3 , 2 0 2 6
Slide 2: Important Information
Important Information Caution Concerning Forward-looking Statements This presentation includes statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Sec
Slide 3: Consolidated 2Q 2026 Financial Results
Consolidated 2Q 2026 Financial Results ($ in billions, except per share data) Pro Forma Revenue* Pro Forma Adj. EBITDA* Pro Forma Adj. EPS* +4.7% (5.3%) (4.3%) $9.4 $1.09 $29.6 $1.04 $8.9 $28.2 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 Free Cash Flow Generation of $4.6 Billion; Return of Capital to Shareholders
Slide 4: Connectivity & Platforms
2Q 2026 2Q 2026 Revenue Adj. EBITDA Commentary Connectivity ($M) y/y % y/y % & Platforms • Revenue and Adj. EBITDA declines reflect the investment in our new go-to-market strategy Revenue ($B) Consolidated $19,795 $7,964 Connectivity • Expect modest improvement starting in 3Q as we lap the $20.4 (3.
Slide 5: Content & Experiences
2Q 2026 2Q 2026 Revenue Adj. EBITDA Commentary Content & ($M) y/y % y/y % Experiences • Revenue growth driven by Orlando led by the continued Revenue ($B) strength at Epic Universe, although performance across the broader resort was below our expectations with attendance $2,413 $609 softening beginn
Slide 6: Return of Capital
Free Cash Flow & Capital Allocation Plan to Separate into Two Independent, • Total Return of Capital: $2.1B Publicly Traded Companies Return of Capital • Share repurchases: $900M • Dividends: $1.2B Strategic Priority: Establishes two strong investment-grade balance sheets with significant flexibilit
Slide 7: Appendix
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Slide 8: Free Cash Flow Generation
Free Cash Flow Generation Net Cash Provided by Operating Activities to Free Cash Flow Walk 2Q 2026 ($B) Net cash provided by Capital Cash paid for capitalized Free Cash Flow operating activities expenditures software and intangible assets $8.1 ($2.9) $4.6 ($0.6) 8 See Notes on Slides 9 and 10
Slide 9: Notes
Notes Numerical information is presented on a rounded basis using actual amounts, unless otherwise noted. The change in Peacock paid subscribers is calculated using rounded paid subscriber amounts. Minor differences in totals and percentage calculations may exist due to rounding. We define Adjusted
Slide 10: Notes
Notes Beginning in the first quarter of 2026, we updated the composition of our segments to align with the segment-level information that is regularly provided to our chief operating decision maker, including (1) adjusting the Media segment to exclude the historical results of Versant; (2) reclassif
Slide 11: Comcast
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