The policy aims to:

• Minimize the consumption of paper
• Eliminate paper products containing irresponsibly harvested fiber, such as
  fiber from High Conservation Value Areas
• Maximize recycled content and fiber sourced from Forest Stewardship
  Council-certified forestry operations

Disney will work with non-governmental organizations to identify and
prioritize regions with poor forest management and high rates of deforestation.
The Company will report its implementation progress on an annual
basis.

“The paper policy is an example of how Disney conducts business in an
environmentally and socially responsible way, and demonstrates the Company’s
commitment to creating a lasting, positive impact on ecosystems and communities
worldwide,” said Dr. Beth Stevens, senior vice president, Disney Corporate
Citizenship, Environment and Conservation.

Disney sought input from stakeholders throughout the supply chain and from
the environmental community in the formulation of its paper policy. Disney will
continue to solicit ongoing feedback as the policy is implemented.

“We commend Disney for adding its significant voice to the growing chorus of
companies demonstrating that there’s no need to sacrifice endangered forests or
animals for the paper we use every day. This policy will have a particularly
important impact in Indonesia, the primary place where rainforests are still
being cut down for pulp and paper,” said Rebecca Tarbotton, executive director
of Rainforest Action Network, which worked with Disney on the policy.

The new policy continues Disney’s legacy of supporting forest and nature
conservation. Over the last two decades, the Disney Worldwide Conservation Fund has invested in
conservation programs in 112 countries, including more than 70 projects in
Indonesia to protect the Sumatran rainforest and work with villages to
effectively manage critical forest habitats. Since 2009, Disney has also
invested more than $27 million in forest carbon projects in the United States,
Peru, Brazil, Democratic Republic of Congo, and China.

“The world’s forests are facing multiple pressures. Disney’s actions to
better understand its paper usage and supply chain send a positive signal that
the company recognizes the seriousness of this issue,” said Ruth Nogueron,
associate, World Resources Institute. “This is a welcome step that reflects
Disney’s commitment to support responsible forest management.”

Learn more about Disney’s citizenship efforts at www.thewaltdisneycompany.com/citizenship.