Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 194

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 194
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 Closing Date (except as otherwise reasonably agreed by the Borrower).

7. Since the date of the
Merger Agreement, there shall not have occurred any Company Material Adverse Effect (as defined in the Merger Agreement as in effect on the date hereof).

C-2

[__________], 20[__]

This
Solvency Certificate is being executed and delivered pursuant to [] of the [__________] (the “”), dated as of [______], among Netflix, Inc. (the
“”), the lenders party thereto from time to time and Wells Fargo Bank, National Association, as the administrative agent; the terms defined therein being used herein as therein defined.

I, [__________], the chief financial officer of the Borrower, solely in such capacity and not in an individual capacity, hereby
certify that I am the chief financial officer of the Borrower and that I am generally familiar with the businesses and assets of the Borrower and its subsidiaries (taken as a whole), I have made such other investigations and inquiries as I have
deemed appropriate and I am duly authorized to execute this Solvency Certificate on behalf of the Borrower pursuant to the Credit Agreement.

I further certify, solely in my capacity as the chief financial officer of the Borrower, and not in my individual capacity, as of the date
hereof and immediately after the consummation of the Transactions on the date hereof and immediately following the incurrence of the indebtedness under and after giving effect to the application of the proceeds of the Credit Agreement and any other
debt incurred on the date hereof, that, with respect to the Borrower and its subsidiaries on a consolidated basis, (a) the sum of the liabilities of the Borrower and its subsidiaries, on a consolidated basis, does not exceed the present fair
saleable value of the assets of the Borrower and its subsidiaries, on a consolidated basis; (b) the capital of the Borrower and its subsidiaries, on a consolidated basis, is not unreasonably small in relation to the business of the Borrower and
its subsidiaries, on a consolidated basis, conducted on the date hereof and (c) the Borrower and its subsidiaries, on a consolidated basis, have not incurred, and do not believe that they will incur, debts beyond the ability of the Borrower and
its subsidiaries (on a consolidated basis) to pay such debts as they mature. For the purposes hereof, the amount of any contingent liability at any time shall be computed