Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 180

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 180
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therein, including, without limitation, in the “flex” provisions thereof, unless the Commitment Parties shall otherwise agree), (b) in any legal, judicial or administrative proceeding or as otherwise required by applicable law or
regulation or as requested by a governmental authority (in which case you agree, to the extent not prohibited by applicable law, to inform us promptly in advance thereof), (c) this Commitment Letter and the existence and contents hereof (but not the
Fee Letters or the contents thereof, other than the aggregate fee amounts contained in the Fee Letters as part of the Projections, pro forma information or a generic disclosure of aggregate sources and uses related to fee amounts related to the
Transactions to the extent customary or required in offering and marketing materials for the Bridge Facility or in any public or regulatory filing requirement (including any filing requirement of the Securities and Exchange Commission) relating to
the Transactions (and only to the extent aggregated with all other fees and expenses of the Transactions and not presented as an individual line item unless required by applicable law, rule or regulation)) may be disclosed in any prospectus or
offering memoranda relating to the New Senior Notes, in any syndication or other marketing material in connection with the Bridge Facility or in connection with any public filing requirement, (d) the Term Sheet may be disclosed to Lenders and
potential Lenders and to any rating agency in connection with the Acquisition and the Bridge Facility, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Commitment Letter, the Fee
Letters, or the transactions contemplated hereby or thereby or enforcement hereof and thereof, (f) the Term Sheet may be disclosed to rating agencies in connection with reaffirming the ratings for the Borrower and (g) with the Commitment
Parties’ prior written consent (which shall not be unreasonably withheld, conditioned or delayed); that the foregoing restrictions shall cease to apply in respect to the existence and contents of this Commitment Letter (but not
in respect of the Fee Letters and their terms and substance) two years after this Commitment Letter has been accepted by you.

12

Each Commitment Party shall use all nonpublic information received by it in connection with
the Acquisition and the related transactions solely for the purposes of providing the services that are the subject of this Commitment Letter and shall treat confidentially all such information; , , that nothing herein
shall prevent a Commitment Party from disclosing any such information (a)