Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 169

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 169
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 ClearPar or any other electronic platform chosen by Wells Fargo to be its electronic transmission system (an “”). You agree that the
following documents may be distributed to both Private-Siders and Public-Siders, unless you advise the Bridge Lead Arrangers within a reasonable time after receipt of such materials for review that such materials should only be distributed to
Private-Siders: (1) administrative materials prepared by the Bridge Lead Arrangers for prospective Lenders (such as a lender meeting invitation, bank allocation, if any, and funding and closing memoranda), (2) the Term Sheet and notification of
changes in terms and conditions of the Bridge Facility and (3) drafts and final versions of the Bridge Credit Documentation. If you so advise the Bridge Lead Arrangers that any of the foregoing should be distributed only to Private-Siders, then
the Bridge Lead Arrangers shall not distribute such materials to Public-Siders without further discussions with you and your prior written consent. You acknowledge that publishing debt analysts employed by the Bridge Lead Arrangers and their
respective affiliates who are Public-Siders may participate in any meetings held pursuant to clause (B) of the first paragraph of this Section 3; that such analysts shall not publish any information obtained from such
meetings until the syndication of the Bridge Facility has been completed upon the making of allocations by the Bridge Lead Arrangers and the Bridge Lead Arrangers freeing the Bridge Facility to trade.

For the avoidance of doubt, you will not be required to provide any (i) trade secrets or (ii) information to the extent that, in the
case of this clause (ii), the provision thereof would violate any attorney-client privilege, law, rule or regulation, or any obligation of confidentiality binding on you, the Company, the Target Business, or your or their respective affiliates;
that, in the event you do not provide information in reliance on this sentence, you shall provide notice to the Commitment Parties that such information is being withheld. Notwithstanding anything to the contrary, the only financial
statements that shall be reported to or provided in connection with the syndication of the Bridge Facility shall be those required to be delivered pursuant to paragraph 3 of .

4.

You hereby represent and
warrant that (with respect to any information relating to the Target Business and its subsidiaries on or prior to the Closing Date, to your knowledge) (a) all written information (including all Information Materials), other than the Projections
(as defined below), other forward-looking information, budgets, forecasts, estimates and information of