On March 3, 2023, Forest Road Acquisition Corp. II issued a promissory note in the principal amount of up to $500,000 to Forest Road Acquisition Sponsor II LLC, the Company's sponsor. The Note was issued in connection with advances the Sponsor may make, in its discretion, to the Company for working capital expenses.

The Note bears no interest and is due and payable upon the earlier to occur of (i) the date on which the Company consummates its initial business combination and (ii) the date of the liquidation of the Company. The issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.