Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 118

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 118
---
 Financing consistent with their customary practice, including
(x) their participation in customary accounting due diligence sessions, and (y) requesting that they provide customary comfort letters (including “negative assurance” and customary “change period” comfort) and
customary consents to the inclusion of the Company’s auditor reports and (B) providing customary management representation letters to such auditors, in each case, to the extent required in connection with such comfort letters and the
marketing and syndication of any Financing; and

(vi) assist with the preparation of and enter into (but not prior to the Closing) the
definitive documentation relating to the Financing (including review of any disclosure schedules related thereto for completeness and accuracy); and

(vii) facilitate discussions with the Company’s existing lender and banking relationships (including cooperating with Buyer in
connection with the replacement or backstopping of letters of credit).

-71-

(e) Notwithstanding anything to the contrary in this Agreement, the assistance contemplated
in and the actions and matters referred to in shall not (i) unreasonably interfere with the normal operations of the Company or any of its Subsidiaries or,
(ii) (A) require the taking of any action in respect of any Financing to the extent that such action would cause any condition to Closing set forth in Article VII to fail to be satisfied by the End Date or otherwise result in a breach of this
Agreement by the Company or any of its Subsidiaries or (B) require the Company or any of its Subsidiaries to waive or amend any terms of this Agreement, (iii) require the Company or any of its Subsidiaries to take any action that would
conflict with or violate any of its organizational documents, any applicable law or fiduciary duty, or result in the contravention of, or that would reasonably be expected to result in a violation or breach of, or default under, any Contract or
permit to which the Company or any of its Subsidiaries is a party, (iv) except in connection with any consent solicitation described in , require the Company or any of its Subsidiaries to issue any bank
information memoranda, lender presentations, offering memoranda, or similar documents including disclosure and financial statements (1) with respect to the business that reflects the Company or its Subsidiaries (other than, after the Closing,
the Surviving Corporation) as the obligor(s) or (2) in the name of the Company, its