Pixar Reports Second Quarter Financial Results EMERYVILLE, CA - (August 5, 2004) Pixar Animation Studios (Nasdaq: PIXR) today announced financial results for its fiscal second quarter ended July 3, 2004. For the quarter, Pixar earned $37.4 million or $0.63 per diluted share. These results compare to earnings of $19.5 million, or $0.34 per diluted share, achieved in the year-ago quarter. Revenues for the quarter were $66.3 million, as compared to $48.9 million in the year-ago quarter. Revenues for the six months ended July 3, 2004 were $120.1 million, compared to $67.5 million for the six months ended June 28, 2003. Earnings for this year's six-month period were $64.1 million, compared to $27.7 million for the prior year's six months. Diluted earnings per share were $1.09 as compared to $0.49 for the respective six-month period. Revenues for the second quarter of 2004 were driven primarily by the continuing success of Finding Nemo, particularly from worldwide home video sales. This compares to the year-ago period during which revenues were driven largely by worldwide box office receipts from Finding Nemo. Continuing film revenues from Monsters, Inc. and Pixar's library titles, as well as a number of non-film related items, also contributed to the company's results. "Our performance this quarter highlights the ongoing success of Finding Nemo and the longevity of all of our films," said Pixar CEO Steve Jobs. "Next up: The Incredibles, which we've now completed and are gearing up for its November 5th release. Prepare to be blown away." The company will discuss its second quarter 2004 earnings results and fiscal year 2004 business outlook during the conference call to be held today, Thursday, August 5, 2004, at 2:00 p.m. (Pacific Time). The call, hosted by Pixar's president, Ed Catmull, and executive vice president and chief financial officer, Simon Bax, can be accessed by dialing 888-428-4480 (U.S.) or 651-291-5254 (Int'l) approximately 10 minutes prior to the start time. Additionally, a replay of the call will be provided through Monday, August 9, 2004 until midnight Eastern Time. To access the replay, please call 800-475-6701 (U.S.) or 320-365-3844 (Int'l) and reference the reservation code: 739503. About Pixar Animation Studios Pixar Animation Studios (Nasdaq: PIXR, http://www.pixar.com) combines creative and technical artistry to create original stories in the medium of computer animation. Pixar has created five of the most successful and beloved animated films of all time: Academy Award®-winning Toy Story (1995); A Bug's Life (1998); Golden Globe-winner Toy Story 2 (1999); the Academy Award®-winning Monsters, Inc. (2001); and the Academy Award®-winning Finding Nemo (2003). Pixar's five films have earned $2.6 billion at the worldwide box office to date. The Northern California studio's next two film releases are The Incredibles (November 5, 2004) and Cars (holiday 2005). This release contains forward-looking information regarding Pixar's targeted release dates for Pixar's future films and actual results may differ materially. Factors that could cause delays in the release of our films include, but are not limited to: (1) the uncertainties related to production delays; (2) financing requirements; (3) personnel availability; (4) external socioeconomic and political events; and (5) the release dates of competitive films. Please refer to Pixar's 2003 Form 10-K and First Quarter 2004 Form 10-Q, particularly the sections on risks, for important factors that could cause actual results to differ.

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