Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 199

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 199
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 the obligations or other Liabilities of such member of the SpinCo Group that constitute Unreleased Company Liabilities from and after the Distribution Effective Time and (B) use commercially reasonable efforts to
effect such payment, performance or discharge prior to any demand for such payment, performance or discharge that is permitted to be made by the obligee thereunder on any member of the SpinCo Group. If and when any such consent, substitution,
approval, amendment or release shall be obtained, or the Unreleased Company Liabilities shall otherwise become assignable or able to be novated, SpinCo shall promptly assign, or cause to be assigned, and the Company or the applicable Company Group
member shall assume, such Unreleased Company Liabilities without exchange of further consideration.

2.6 . In
furtherance of, and not in limitation of, the obligations set forth in :

(a) At or
prior to the Distribution Effective Time or as soon as practicable thereafter, each of the Company and SpinCo shall, at the request of the other Party and with the reasonable cooperation of such other Party and the applicable member(s) of such other
Party’s Group, use commercially reasonable efforts to (i) have any member(s) of the Company Group removed as guarantor of or obligor for any SpinCo Guarantee, including the removal of any Security Interest on or in any Company Asset that
may serve as collateral or security for any such SpinCo Guarantee, and (ii) have any member(s) of the SpinCo Group removed as guarantor of or obligor for any Company Guarantee, including the removal of any Security Interest on or in any SpinCo
Asset that may serve as collateral or security for any such Company Guarantee.

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(b) To the extent required to obtain a release from:

(i) any SpinCo Guarantee of a member of the Company Group, SpinCo shall execute a guarantee agreement in the form of the
existing guarantee or such other form as is agreed to by the relevant parties to such guarantee agreement, which such agreement shall include the removal of any Security Interest on or in any Company Asset that may serve as collateral or security
for any such SpinCo Guarantee, except to the extent that such existing guarantee contains representations, covenants or other terms or provisions either (A) with which SpinCo would be reasonably unable to comply or (B) which SpinCo would
not reasonably be able to avoid breaching; and

(ii) any Company Guarantee of any member of the SpinCo Group, the Company
shall execute a guarantee agreement