Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 226

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 226
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 case may be, to the Party entitled under this Agreement to retain such payment or required under this
Agreement to make such payment, in any case except as otherwise required by applicable Law.

5.3 . Each of SpinCo and the
Company acknowledges and agrees that the other’s willingness to cause, effect and consummate the Separation and the Distribution has been conditioned upon and induced by its covenants and agreements in this Agreement and the Ancillary
Agreements, including its assumption or retention of the SpinCo Liabilities or the Company Liabilities, as applicable, pursuant to the Separation and the provisions of this Agreement and its covenants and agreements contained in .

5.4 . The Parties acknowledge that, after the Distribution Effective Time, each Party
shall be independent of the other Party, with responsibility for its own actions and inactions and its own Liabilities relating to, arising out of or resulting from the conduct of its business, operations and activities following the Distribution
Effective Time, except as may otherwise be provided in any Ancillary Agreement, and each Party shall (except as otherwise provided in ) use commercially reasonable efforts to prevent such Liabilities from being inappropriately borne
by the other Party.

5.5 . The Parties hereby agree to the matters specified on .

ARTICLE VI

EXCHANGE OF INFORMATION; CONFIDENTIALITY

6.1 .

(a) Subject to and any other applicable confidentiality obligations, the Merger
Agreement, any Ancillary Agreement or any other agreements between the Parties, each of the Company and SpinCo, on behalf of itself and each member of its Group, agrees to use commercially reasonable efforts to provide or make available, or cause to
be provided or made available, to the other Party and the members of such other Party’s Group, at any time before, at or after the Distribution Effective Time, as soon as reasonably practicable after request therefor, any Information (or a
copy thereof) in the possession or under the control of such Party or its Group that the requesting Party or its Group requests to the extent that: (i) such Information relates to the SpinCo Business, or any SpinCo Asset or SpinCo Liability, if
SpinCo is the requesting Party, or to the Company Business, or any Company Asset or Company Liability, if the Company is the requesting Party; (ii) such Information is reasonably requested in connection with the requesting Party’s
compliance with its obligations under this Agreement or any Ancillary Agreement, or under any contract, agreement, obligation