Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 181

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 181
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 to rating agencies, (b) to any Lenders or participants or prospective Lenders or participants, in each case other than Disqualified Lenders, (c) in any legal,
judicial or administrative proceeding or other compulsory process or as required by applicable law or regulations (in which case such Commitment Party shall promptly notify you, in advance, to the extent permitted by law), (d) upon the request or
demand of any Regulatory Authority (as defined herein) having jurisdiction over such Commitment Party or its affiliates (in which case such Commitment Party agrees, to the extent practicable and not prohibited by applicable law, to inform you
promptly thereof prior to disclosure (except with respect to any audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising examination or regulatory authority or regulation)), (e) to the
employees, officers, directors, legal counsel, independent auditors, professionals and other experts or agents of each Commitment Party (collectively, “”) on a need-to-know basis and who are informed of the confidential nature of such information and are or have been advised of their obligation to keep information of this type confidential on terms that are
substantially identical to the terms set forth herein ( that such Commitment Party shall be responsible for the compliance of its affiliates and Representatives with the provisions of this paragraph), (f) to any of its respective
affiliates ( that any such affiliate is advised of its obligation to retain such information as confidential on terms that are substantially identical to the terms set forth herein, and each Commitment Party shall be responsible for
its affiliates’ compliance with this paragraph) solely in connection with the Transactions and any related transactions, (g) to the extent any such information becomes publicly available other than by reason of disclosure by such
Commitment Party, its affiliates or Representatives in breach of this Commitment Letter or breach by any other party of any confidentiality obligation known by such Commitment Party to exist in favor of you, the Company, the Target Business or your
or their respective affiliates with respect to such information, (h) for purposes of establishing a “due diligence” defense, (i) to the extent that such information is received by a Commitment Party from a third party that is
not known by such Commitment Party to be subject to confidentiality obligations to you or your affiliates, (j) to enforce its respective rights hereunder or under the Fee Letters or (k) to the extent such information was independently
developed by a Commitment Party without