Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 189

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 189
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.0% of the aggregate principal amount of the Bridge Loans held by such Lender on the date that is 270 days after the Closing Date.                                                                                                                  |
| Default Rate:           |     | Same as the Existing Credit Agreement.                                                                                                                                                                                                                   |
| Rate and Fee Basis:     |     | All per annum rates shall be calculated on the basis of a year of 360 days (or 365/366 days, in the case of ABR Loans the interest rate payable on which is then based on the Prime Rate) for actual days elapsed.                                       |

Annex I-3

Annex I-Ato Exhibit B PRICING GRID

| Category   |     | Ratings Level  |     | Ticking Fee Rate |     | Applicable Margin  
 for Term Benchmark 
 Loans              |     | Applicable Margin 
 for ABR Loans     |
| Category 1 |     | A2/A or higher |     | 0.05%            |     | 0.75%              |     | 0.0%              |
| Category 2 |     | A3/A- or lower |     | 0.07%            |     | 0.875%             |     | 0.0%              |

Notwithstanding anything to the contrary herein, the Applicable Margin for Term Benchmark Loans and the Applicable Margin for ABR Loans at each of the above Pricing Levels shall increase by 0.25% per annum on the date that is 90 days after the Closing Date and by an additional 0.25% per annum at the end of each 90-dayperiod thereafter. At any time of determination, the “Ratings Level” shall be based upon the long-term debt ratings by Moody’s and S&P (each as defined below), respectively, applicable at such time to the Index Debt (as defined below). For purposes of the foregoing, (i) if no rating for the Index Debt shall be available from Moody’s or S&P, such rating agency shall be deemed to have established a rating for Index Debt in Category 2, unless the failure of the rating agencies to rate the Index Debt is not the result of a change in the creditworthiness of the Borrower or the Index Debt and is not within the control of the Borrower, in which case the Borrower and the Lenders shall negotiate in good faith to amend the Bridge Credit Documentation to reflect a new method of determining the Applicable Margin for Term Benchmark Loans, the Applicable Margin for ABR