Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 160

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 160
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 of Buyer’s executive officers (as such term is defined in the Exchange Act).

“” has the meaning set forth in the Separation and Distribution Agreement.

“” means the Separation and the Distribution, collectively.

“” means the “Specified Ancillary Agreements” as defined in the Separation and
Distribution Agreement, together with all annexes, exhibits, schedules, attachments and appendices thereto.

“” means the “Specified Amount Reduction” as defined in the Separation and Distribution Agreement.

“” has the meaning given to such term in the Separation and Distribution Agreement.

“” means any individual who holds a Company Equity Award who is a (i) SpinCo Group Employee,
(ii) a Former SpinCo Group Employee or (iii) Other SpinCo Service Provider (in each case of (i), (ii) and (iii), as defined in the Employee Matters Agreement).

“” has the meaning given to such term in the Separation and Distribution Agreement.

“” means each member of the Spinco Group.

Annex A-15

“” has the meaning given to such term in the Separation and
Distribution Agreement.

“” means 16.22%.

“” means, with respect to any Person, any other Person (i) of which at least a majority of the securities or
ownership interests having by their terms ordinary voting power to elect a majority of the board of directors or other persons performing similar functions is directly or indirectly owned or controlled by such Person or by one or more of its
Subsidiaries or (ii) of which such Person, directly or indirectly, possesses the power to direct or cause the direction of the management and policies by Contract.

“” means a “fair price,” “moratorium,” “control share acquisition” or
other similar anti-takeover statute or regulation.

“” or “” means any income, gross income,
gross receipts, profits, capital stock, franchise, withholding, payroll, social security, workers compensation, unemployment, disability, property, ad valorem, value added, stamp, excise, severance, occupation, service, digital services,
environmental, sales, consumption, turnover, goods and services, use, license, lease, transfer, import, export, customs duty, escheat, alternative minimum, estimated or other tax (including any fee, assessment, or other charge in the nature of or in
lieu of any tax), imposed by any Governmental Entity or political subdivision thereof, and any interest, penalty