Will Sean Penn show? Who’ll present Best Picture?

From looming surprises to potential viral moments, the 2026 Oscars are shaping up to be an evening filled with high-stakes suspense. Before the first envelope is opened on Sunday, here are all of the burning questions we are tracking for Hollywood’s biggest night.

Will Sean Penn show up?

If you’re getting an “I really don’t care, do you?” vibe from Sean Penn when it comes to this awards season, you’re not alone. The Best Supporting Actor front-runner for One Battle After Another appeared at the Golden Globes, but he missed the Critics Choice, BAFTA, and Actor Awards — despite winning at the latter two.

Similarly, the movie’s lead actor, Leonardo DiCaprio, missed the Actor Awards because he was filming his latest project with Martin Scorsese. Gold Derby has reached out to the One Battle team to see if Penn and/or DiCaprio will show up at the Oscars, but have yet to hear back. Apparently, we will all find out together on Sunday night.

Will Conan O’Brien cosplay as Aunt Gladys?

Long before Aunt Gladys made redheads cool, there was Conan O’Brien. In his debut as Oscar host last year, the ginger funnyman emerged from Demi Moore‘s back, à la The Substance, and later sang and danced alongside a sand worm from Dune: Part Two. So, it’s entirely possible he will do a comedy bit focused on film characters from 2025’s crop of contenders, whether that is Amy Madigan‘s Weapons witch, DiCaprio’s bathrobe dad from One Battle After Another, Michael B. Jordan‘s Sinners twins, Emma Stone‘s pasty-bald look from Bugonia, or someone else entirely.

Will the “Fab Five” presenting format return?

Popular among Oscar watchers, the “Fab Five” presenting format — in which five past winners from a category return to salute the current nominees — was first created in 2009. Audiences love the authenticity of the endeavor, with legends speaking directly to each nominee rather than reading generic scripts. The format has returned sparingly since then, including last year, when it was tweaked amid the controversy swirling around Emilia Pérez leading actress contender Karla Sofía Gascón: famous faces (not necessarily Oscar winners) presented craft categories (not acting races).

If the “Fab Five” were to return this year, imagine such viral pairings as: Matthew McConaughey (Dallas Buyers Club) presenting Best Actor to his Interstellar son, Timothée Chalamet (Marty Supreme); Olivia Colman (The Favourite) presenting Best Actress to her younger self from The Lost Daughter, Jessie Buckley (Hamnet); or Tim Robbins presenting Best Supporting Actor to his Mystic River childhood friend, Sean Penn.

Which legend(s) will present Best Picture?

The Academy often taps a big name, or an iconic duo, to present the final category of the night. Who might it be this year? Recent A-listers who presented Best Picture include Billy Crystal and Meg Ryan (to Anora), Al Pacino (“and my eyes see Oppenheimer“), Harrison Ford (to Everything Everywhere All at Once), and Lady Gaga with a wheelchair-bound Liza Minnelli (to CODA).

Perhaps the most infamous Best Picture presenters were Warren Beatty and Faye Dunaway. They were erroneously handed the Best Actress card (for Emma Stone, La La Land) and Dunaway read the movie title aloud, believing it to be Best Picture, when really Moonlight had won. They returned a year later and announced The Shape of Water as the winner — without any hiccups.

Will the ceremony open with “Golden”?

In past years, Oscar producers began the night with high-energy music performances from Justin Timberlake (“Can’t Stop the Feeling!” from Trolls), Queen and Adam Lambert (“We Will Rock You” and “We Are the Champions” from Bohemian Rhapsody), and Ariana Grande and Cynthia Erivo (“Defying Gravity” from Wicked). This year, it’s all about “Golden.” Will the rousing Best Song front-runner from KPop Demon Hunters — which is also predicted to win Best Animated Feature — open the ceremony and get everyone’s pulses pounding?

All we know for sure is that “Golden” will be performed at some point during ABC’s broadcast, as will fellow nominee “I Lied to You” from Sinners. The other three nominated songs — “Dear Me” from Diane Warren: Relentless, “Sweet Dreams of Joy” from Viva Verdi, and “Train Dreams” from Train Dreams — will not be performed, with the Academy explaining they didn’t have the same cultural impact as “Golden” and “I Lied to You.”

Will Neil Diamond appear with Hugh Jackman and Kate Hudson?

Song Sung Blue was the surprise awards player of the season, earning Oscar, BAFTA, Globe, and Actor Award nominations for Kate Hudson, and a Gotham Tribute Award to her and Hugh Jackman. The plot follows the real-life Neil Diamond tribute band Lightning & Thunder, which begs the question: might Diamond himself appear on the Oscar ceremony to support the film’s nominated actress?

There is precedent for this. At the 91st Academy Awards in 2019, Bohemian Rhapsody won four Oscars (including Best Actor for Rami Malek) for its tale about Queen, and sure enough, the rock band opened the ceremony with a medley of its biggest hits. The only issue is Diamond’s health. The 85-year-old superstar was diagnosed with Parkinson’s disease in 2018, at which point he stopped touring. Diamond remains optimistic, and continues to write music from home.

What will be this year’s movie cast reunions?

Reunited and it feels so good! In recent years, the Oscars have staged several viral movie reunions on the big stage, including: Jennifer Garner, Elliot Page, and J. K. Simmons from Juno in 2022; Woody Harrelson, Rosie Perez, and Wesley Snipes from White Men Can’t Jump in 2022; Danny DeVito and Arnold Schwarzenegger from Twins in 2024; and the aforementioned Billy Crystal and Meg Ryan from When Harry Met Sally in 2025.

This year, there are reports that Kristen Wiig, Maya Rudolph, Melissa McCarthy, and Rose Byrne from Bridesmaids will reunite on the big stage. Also, watch for Crystal and Ryan to be part of an emotional tribute to filmmaker Rob Reiner, who was killed along with his wife, Michele Singer Reiner, in December.

Will Sinners or One Battle set the record for most wins?

With 16 and 13 nominations, respectively, Sinners and One Battle After Another are both within reach of making history with more than 11 Oscar wins. The record is currently shared by three movies: Ben-Hur (1959), Titanic (1997), and The Lord of the Rings: The Return of the King (2003). Per the Gold Derby predictions, Sinners has the best shot at reaching the milestone, as it places first or second in 13 races, while One Battle places first or second in 10 categories.

Will an international film win in any categories besides Best International Film?

Prior to the Oscar nominations being unveiled in January, there was much discussion about how this could be the biggest year ever for international productions. In the end, only two made it into the Best Picture lineup: Sentimental Value, which has nine total noms, and The Secret Agent, which received four. It Was Just an Accident and Sirât both nabbed two bids, while Viva Verdi surprised with a Best Song notice.

With just days to go until the Oscars, Gold Derby is not predicting any international film to win outside of the main Best International Feature race or the three short categories. Sentimental Value has the strongest chance, as it places second in two categories: Best Supporting Actor (Stellan Skarsgård) and Best Original Screenplay (Eskil Vogt and Joachim Trier); it is also projected to win Best International Feature.