Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 159

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 159
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 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) and (b) by its nature would not reasonably have been foreseen by such Party (or such Person) or, if it would reasonably have been foreseen, was beyond the control of such Party, and may include acts of God, acts of civil or military authority, embargoes, pandemics, epidemics, wars, riots, protests or civil unrest, insurrections, fires, explosions, earthquakes, floods, government shutdowns, travel restrictions, unusually severe weather conditions, labor problems or the response of any Governmental Authority to any of the foregoing, or, in the case of computer systems, any significant and prolonged failure in electrical or air conditioning equipment. Notwithstanding the foregoing, the receipt by a Party of an unsolicited takeover offer or other acquisition proposal, even if unforeseen or unavoidable, and such Party’s response thereto shall not be deemed an event of Force Majeure.

| 2 | Note to Draft: Subject to tax structure, including debt assumption by the Company. |

12

“” shall mean the registration statement on Form 10 (which
includes the Information Statement) filed by SpinCo with the SEC to effect the registration of SpinCo Shares pursuant to the Exchange Act in connection with the Distribution, as such registration statement may be amended or supplemented from time to
time prior to the Distribution