Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 194

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 194
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 prior to the Distribution Date (it being understood that no certification need be provided with respect to any period or portion of any period
after the Distribution Date) and (b) be in substantially the same form as those that had been provided by officers or employees of the Company in similar certifications delivered prior to the Distribution Date, with such changes thereto as the
Company may reasonably determine. Such certification(s) shall be provided by the Company (and not by any officer or employee in his or her individual capacity).

2.13 .

(a) Prior to the Distribution Effective Time, the Company or other member(s) of the Company Group shall enter into one or more
financing arrangements and agreements with respect to indebtedness for borrowed money, on such terms and conditions as determined by the Company in its sole discretion, pursuant to which it or they shall (x) incur indebtedness the net proceeds
of which are at least sufficient, together with the net proceeds of the SpinCo Financing Arrangements, to repay or otherwise cause to be repaid the Existing Company Bridge Loan Facility and/or (y) otherwise amend or extend the portion of the
Existing Company Bridge Loan Facility that will be outstanding as of the Distribution Effective Time after taking into account any repayments thereunder (either with cash, with net proceeds of the SpinCo Financing Arrangements or otherwise (such
amended or extended facility, the “”)) (such amount of indebtedness incurred, amended or extended, the “,” and such financing arrangements and agreements,
together with any additional or alternative financing arrangements or agreements with respect to indebtedness for borrowed money entered into by the Company prior to or at the Distribution Effective Time pursuant to
the “” and, together with any other financing arrangements entered into by the Company (the proceeds of which may be used for any purpose in the
Company’s sole discretion) and the Existing Company Financing Arrangements, collectively, the “”). The net proceeds of the New Company Financing Arrangements shall be used (i) to repay the
portion of the Existing Company Bridge Loan Facility which is not amended or extended pursuant to the foregoing clause (y) of this Section 2.13(a), (ii) as otherwise required to be applied in accordance with
and (iii) to the extent there are any remaining net proceeds after application thereof to the uses set forth in the preceding clauses (i) and (ii), in such manner as determined by the Company in
its sole discretion.

(b) Unless automatically released in accordance with the terms of