Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 167

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 167
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 parties to, the Bridge Facility.

The Bridge Lead Arrangers will manage, in consultation with you, all aspects of the syndication, including decisions as to the selection of
institutions to be approached ( that we will not syndicate to (A) those persons identified in writing to the Bridge Lead Arrangers on or prior to the date hereof and (B) with respect to persons who are reasonably determined
by you to be competitors of you, the Target Business or your or their respective subsidiaries and that have been specifically identified in writing to the Bridge Lead Arrangers from time to time after the date hereof and prior to the Closing Date or
to the Bridge Administrative Agent from time to time after the Closing Date, which supplement shall become effective three (3) Business Days (as defined herein) after delivery thereof to the Bridge Lead Arrangers and (C) in each case,
their affiliates (other than bona fide debt fund affiliates) to the extent such affiliates are identified in writing to the Bridge Lead Arrangers prior to the Closing Date or are otherwise clearly identifiable as an affiliate based solely by
similarity of such affiliate’s name to the name of a person on such list, it being understood and agreed that the foregoing provisions shall not apply retroactively to any person if such person shall have previously acquired an assignment or
participation interest (or shall have entered into a trade therefor) prior thereto, but shall disqualify such person from taking any further assignment or participation thereafter (collectively, the “”) (it
being agreed the list of Disqualified Lenders may be provided, on a confidential basis, to Lenders and to any potential assignees or participants)) and when they will be approached, when commitments will be accepted, which institutions will
participate, the allocation of the commitments among the Lenders and the amount and distribution of fees among the Lenders (subject, in each case, to your rights and the limitations imposed upon the Bridge Lead Arrangers with respect thereto, in
each case, as expressly set forth in this Commitment Letter). You hereby acknowledge and agree that the Bridge Lead Arrangers, solely in their capacities as Bridge Lead Arrangers, will have no responsibility other than to arrange the syndication as
set forth herein and other than as expressly set forth in this Commitment Letter and in no event shall any Commitment Party be subject to any fiduciary or other implied duties in connection with the transactions contemplated hereby. For purposes of
this Commitment Letter, “Business Day”