Exhibit 4.5

ADDITIONAL FACILITY

PARTIES:



WHEREAS:



NOW,
THEREFORE, the parties hereby agree as follows:

Article 1Definitions

All capitalized terms used in this agreement and not otherwise defined have the meaning ascribed to their French equivalents in the Common Agreement date
August 10, 1994 among Euro Disney S.C.A., EDL Hotel S.C.A., Euro Disneyland S.N.C., Sequoia Lodge Associés S.N.C., Cheyenne Hotel Associés SNC, Hotel Santa Fe
Associés S.N.C., centre de Divertissements Associés S.N.C. and the Banks that are parties to the Phase 1A Credit, the Caisse des Dépôts et
Consignations, the Partners of Euro Disneyland S.N.C. party to the Phase 1A Partners Advances, the Banks that are parties to the Phase 1B Credit, the Partners of the Hotel S.N.C.s and the Lenders that
are parties to the Phrase 1B Partners Advances or in each of the Financing Agreements.

Article 2Additional Facility

TWDC hereby makes available the Additional Facility on the following terms:

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No
interest will be paid to TWDC as long as amounts drawn under the Additional Facility have not bee repaid. During such period, interest that has remained unpaid for an entire year will
be capitalized in accordance with Article 1154 of the French Civil Code.



Article 3Irrevocable commitment

The provisions of this agreement constitute an Irrevocable commitment by TWDC during the Period and shall remain in force as long as any amount under the
Additional Facility remains outstanding. They are expressly stipulated to be given in favor of the Agents and the Creditors.

Article 4Governing Law and Jurisdiction

The provisions of this agreement shall be governed by French law.

Any
dispute arising in connection with this agreement shall be subject to the jurisdiction of the Paris Commercial court.

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Article 5Language

This agreement is entered into in the English language. A French translation of this agreement is annexed hereto.

Article 6Third Party Beneficiary Rights(Stipulation pour autrui)

The
Agents hereby intervene to accept the third party beneficiary rights (stipulation pour autrui) referred to above.

Signed
in New-York City, on November 3rd, 2003, in three original duplicates.

|                                                                                                                    |  |                                                                               |  |     |  |                    
|------------------------------------------------------------------------------------------------------------------- |  | ----------------------------------------------------------------------------- |  | --- |  | -------------------
|For Euro Disney S.C.A.                                                                                              |  | For The Walt Disney Company                                                  
|By:                                                                                                                 |  | /s/JEFFREY R. SPEED                                                           |  | By: |  | /s/THOMAS O. STAGGS
|Jeffrey R. Speed
Senior Vice President and Chief
Financial Officer of Euro Disney S.A.
Gérant of Euro Disney S.C.A. |  | Thomas O. Staggs, Senior Executive
Vice President and Chief Financial
Officer
|                                                                                                                    |  |                                                                               |  |     |  |                    

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For
acceptance of the third party beneficiary rights above,
by the Agents

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