Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 171

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 171
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 the other transactions contemplated by this Agreement, substantially in the form attached as , as it may be amended from time to
time in accordance with .

“” shall have the meaning set forth
in .

“” shall mean the U.S. Securities Exchange Act of 1934, as
amended, together with the rules and regulations promulgated thereunder.

11

“ Existing Company Bridge Loan Facility” shall mean the bridge loan facility pursuant to that certain Non-InvestmentGrade Leveraged Bridge Loan Agreement, dated as of June 26, 2025 (as amended, restated, supplemented or otherwise modified or replaced from time to time), by and among, inter alia, certain members of the Company Group, certain members of the SpinCo Group, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. “ Existing Company Financing Arrangements” shall mean the Existing Company Bridge Loan Facility[, the Existing Company Revolving Credit Facility and the Existing Company Receivables Facility]. 2 “ Existing Company Receivables Facility” shall mean the accounts receivable financing facility pursuant to that certain Fourth Amended and Restated Receivables Purchase Agreement, dated as of August 30, 2022 (as amended, restated, supplemented or otherwise modified from time to time), by and among, inter alia, Warner Bros. Discovery Receivables Funding, LLC, Turner Broadcasting System, Inc., PNC Bank, National Association, as administrative agent, and PNC Capital Markets LLC, as structuring agent. “ Existing Company Revolving Credit Facility” shall mean the revolving credit facility pursuant to that certain Credit Agreement, dated as of October 4, 2024 (as amended, restated, supplemented or otherwise modified from time to time), by and among, inter alia, certain members of the Company Group, certain members of the SpinCo Group, the lenders party thereto, and Bank of America, N.A., as administrative agent, swing line lender and L/C issuer. “ Existing SpinCo Debt Securities” shall mean the securities listed on Schedule 1.16hereto. “ First Post-Distribution Report” shall have the meaning set forth in Section 10.9. “ Force Majeure” shall mean, with respect to a Party, an event beyond the reasonable control of such Party (or any Person acting on its behalf), which event (a) does not arise or result from the fault or negligence of such Party (or any Person acting on its behalf