TWDC Holdco 613 Corp.

TWDC Holdco 613 Corp. [logo]

To:
TWDC Holdco 613 Corp.
c/o Global Bondholder Services Corporation
65 Broadway, Suite 404
New York, New York 10006
Facsimile: (212) 624-0294
Email: info@gbsc-usa.com
To Confirm: (866) 470-3900 (Toll-Free)
or (212) 925-1630 (Collect)
Attention: Corporation Actions

Ladies and Gentlemen:

           The undersigned acknowledges receipt of your letter dated October 5, 2018 (the “Letter”). Capitalized terms used and not defined in this letter shall have the meanings set forth in the Letter.

           The undersigned hereby represents and warrants to TWDC Holdco 613 Corp. (“New Disney”), a direct, wholly owned subsidiary of The Walt Disney Company, and its affiliates, as follows:

           (1) it is the beneficial owner, or is acting on behalf of a beneficial owner, of the 6.900% Senior Notes due March 1, 2019 (CUSIP No. 90131HAN5), the 5.650% Senior Notes due August 15, 2020 (CUSIP Nos. 90131HAP0; 652482BV1; U65249AS0 and U88803AC2), the 4.500% Senior Notes due February 15, 2021 (CUSIP No. 90131HAQ8), the 3.000% Senior Notes due September 15, 2022 (CUSIP No. 90131HAR6), the 8.875% Senior Debentures due April 26, 2023 (CUSIP No. 90131HAS4), the 4.000% Senior Notes due October 1, 2023 (CUSIP No. 90131HAA3), the 7.750% Senior Debentures due January 20, 2024 (CUSIP No. 90131HAT2 and 652478AR9), the 7.750% Senior Debentures due February 1, 2024 (CUSIP No. 90131HAU9 and 652478AU2), the 9.500% Senior Debentures due July 15, 2024 (CUSIP No. 90131HAV7), the 3.700% Senior Notes due September 15, 2024 (CUSIP Nos. 90131HAE5; 90131HAC9 and U88803AA6), the 8.500% Senior Debentures due February 23, 2025 (CUSIP No. 90131HAW5), the 3.700% Senior Notes due October 15, 2025 (CUSIP No. 90131HBW4), the 7.700% Senior Debentures due October 30, 2025 (CUSIP No. 90131HAX3), the 7.430% Senior Debentures due October 1, 2026 (CUSIP No. 90131HAY1), the 3.375% Senior Notes due November 15, 2026 (CUSIP Nos. 90131HCB9; 90131HCA1 and U88803AF5), the 7.125% Senior Debentures due April 8, 2028 (CUSIP No. 90131HAZ8), the 7.300% Senior Debentures due April 30, 2028 (CUSIP No. 90131HBA2), the 7.280% Senior Debentures due June 30, 2028 (CUSIP No. 90131HBB0), the 7.625% Senior Debentures due November 30, 2028 (CUSIP No. 90131HBC8), the 6.550% Senior Notes due March 15, 2033 (CUSIP No. 90131HBD6), the 8.450% Senior Debentures due August 1, 2034 (CUSIP No. 90131HBE4), the 6.200% Senior Notes due December 15, 2034 (CUSIP Nos. 90131HBF1 and 652482BH2), the 6.400% Senior Notes due December 15, 2035 (CUSIP Nos. 90131HBG9; 90131HBH7 and U65249AM3), the 8.150% Senior Debentures due October 17, 2036 (CUSIP No. 90131HBJ3), the 6.150% Senior Notes due March 1, 2037 (CUSIP No. 90131HBK0), the 6.650% Senior Notes due November 15, 2037 (CUSIP No. 90131HBL8), the 6.750% Senior Debentures due January 9, 2038 (CUSIP No. 90131HBM6), the 7.850% Senior Notes due March 1, 2039 (CUSIP No. 90131HBN4), the 6.900% Senior Notes due August 15, 2039 (CUSIP No. 90131HBP9), the 6.150% Senior Notes due February 15, 2041 (CUSIP No. 90131HBQ7), the 5.400% Senior Notes due October 1, 2043 (CUSIP No. 90131HAB1), the 4.750% Senior Notes due September 15, 2044 (CUSIP Nos. 90131HAH8; 90131HAF2 and U88803AB4), the 4.950% Senior Notes due October 15, 2045 (CUSIP No. 90131HBZ7), the 7.750% Senior Debentures due December 1, 2045 (CUSIP No. 90131HBR5), the 4.750% Senior Notes due November 15, 2046 (CUSIP No. 90131HCD5), the 7.900% Senior Debentures due December 1, 2095 (CUSIP No. 90131HBS3) and the 8.250% Senior Debentures due October 17, 2096 (CUSIP No. 90131HBT1), each issued by 21st Century Fox America, Inc. (collectively, the “Notes”), in the amount(s) set forth below; and

           (2) it is, or in the event that the undersigned is acting on behalf of a beneficial owner of Notes, the undersigned has received a written certification from such beneficial owner (dated as of a specific date on or since the close of such beneficial owner’s most recent fiscal year) to the effect that such beneficial owner is (please indicate below):

a “Qualified Institutional Buyer,” as that term is defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), who is not located in Canada; or

a person that is outside of the “United States” and is (i) not a “U.S. Person,” as those terms are defined in Rule 902 under the Securities Act and (ii) a “non-U.S. qualified offeree” (as defined in the Letter), who is not located in Canada; or

a “Qualified Institutional Buyer,” as that term is defined in Rule 144A under the Securities Act, who is located in Canada; or

a person that is outside of the “United States” and is (i) not a “U.S. Person,” as those terms are defined in Rule 902 under the Securities Act and (ii) a “non-U.S. qualified offeree” (as defined in the Letter), who is located in Canada.

           The undersigned understands that it is providing the information contained herein to New Disney solely for purposes of New Disney’s consideration of certain transactions with respect to the Notes. This letter is neither an offer nor a solicitation of an offer with respect to the Notes. It does not create any obligations whatsoever on the part of New Disney to make any offer or on the part of the undersigned to participate if an offer is made.

           The undersigned agrees (1) not to copy or reproduce any part of any materials (except as permitted therein) received in connection with the Exchange Offers and Consent Solicitations (as defined in the Letter), (2) not to distribute or disclose any part of such materials or any of their contents (except as permitted therein) to anyone other than, if applicable, the aforementioned beneficial owners on whose behalf the undersigned is acting and (3) to notify New Disney if any of the representations the undersigned makes in this letter cease to be correct.

                                                                                                              Very truly yours,

Existing Notes CUSIP Insert Principal Amount of Existing Notes Owned
6.900% Senior Notes due March 1, 2019 90131HAN5
5.650% Senior Notes due August 15, 2020 90131HAP0; 652482BV1; U65249AS0 and U88803AC2
4.500% Senior Notes due February 15, 2021 90131HAQ8
3.000% Senior Notes due September 15, 2022 90131HAR6
8.875% Senior Debentures due April 26, 2023 90131HAS4
4.000% Senior Notes due October 1, 2023 90131HAA3
7.750% Senior Debentures due January 20, 2024 90131HAT2 and 652478AR9
7.750% Senior Debentures due February 1, 2024 90131HAU9 and 652478AU2
9.500% Senior Debentures due July 15, 2024 90131HAV7
3.700% Senior Notes due September 15, 2024 90131HAE5; 90131HAC9 and U88803AA6
8.500% Senior Debentures due February 23, 2025 90131HAW5
3.700% Senior Notes due October 15, 2025 90131HBW4
7.700% Senior Debentures due October 30, 2025 90131HAX3
7.430% Senior Debentures due October 1, 2026 90131HAY1
3.375% Senior Notes due November 15, 2026 90131HCB9; 90131HCA1 and U88803AF5
7.125% Senior Debentures due April 8, 2028 90131HAZ8
7.300% Senior Debentures due April 30, 2028 90131HBA2
7.280% Senior Debentures due June 30, 2028 90131HBB0
7.625% Senior Debentures due November 30, 2028 90131HBC8
6.550% Senior Notes due March 15, 2033 90131HBD6
8.450% Senior Debentures due August 1, 2034 90131HBE4
6.200% Senior Notes due December 15, 2034  90131HBF1 and 652482BH2
6.400% Senior Notes due December 15, 2035  90131HBG9; 90131HBH7 and U65249AM3
8.150% Senior Debentures due October 17, 2036 90131HBJ3
6.150% Senior Notes due March 1, 2037 90131HBK0
6.650% Senior Notes due November 15, 2037 90131HBL8
6.750% Senior Debentures due January 9, 2038 90131HBM6
7.850% Senior Notes due March 1, 2039 90131HBN4
6.900% Senior Notes due August 15, 2039 90131HBP9
6.150% Senior Notes due February 15, 2041 90131HBQ7
5.400% Senior Notes due October 1, 2043 90131HAB1
4.750% Senior Notes due September 15, 2044 90131HAH8; 90131HAF2 and U88803AB4
4.950% Senior Notes due October 15, 2045 90131HBZ7
7.750% Senior Debentures due December 1, 2045 90131HBR5
4.750% Senior Notes due November 15, 2046 90131HCD5
7.900% Senior Debentures due December 1, 2095 90131HBS3
8.250% Senior Debentures due October 17, 2096 90131HBT1

 

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