Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 363

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 363
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 set forth in this Agreement shall be unconditional and absolute and shall remain in effect without limitation as to time.

Section 12. . The tax characterization of payments made hereunder shall be determined under the
principles of Section 5.2 of the Separation Agreement.

Section 13. . In the event that the Company and
SpinCo are unable to resolve a disagreement under this Agreement involving computational matters (or, if a disagreement involves both computational and non-computational matters, the portion of the
disagreement relating to computational matters, so long as such portion can reasonably be separated from the other matters in dispute) (a “”), the Reconciliation Dispute shall be submitted for determination
to a nationally recognized expert in the area of disagreement (the “”) mutually acceptable to both parties cooperating in good faith. The Independent Expert shall be a partner in a nationally recognized
accounting firm or a law firm, and the Independent Expert shall not, and the firm that employs the Independent Expert shall not, have any material relationship with the Company or SpinCo or any other actual or potential conflict of interest. If the
parties are unable to agree on an Independent Expert within fifteen (15) days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Independent Expert shall be appointed in the same manner as provided in Article VII
of the Separation Agreement, mutatis mutandis. The Independent Expert shall resolve any matter submitted thereto within thirty (30) calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been
submitted to the Independent Expert for resolution. Notwithstanding the preceding sentence, if the Reconciliation Dispute is not resolved before any payment that is the subject of the Reconciliation Dispute, such payment shall be made on the date
prescribed by this Agreement, subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Independent Expert or the amendment of any Tax Return shall be borne equally by the Company and SpinCo,
except as provided in the next sentence. Each party shall bear its own costs and expenses (including, without limitation, fees of such party’s own attorneys or accountants) of such proceeding. The Independent Expert shall finally determine any
Reconciliation Dispute and the determinations of the Independent Expert pursuant to this shall be binding on the Company and SpinCo and may be entered and enforced in any court having jurisdiction.

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Section 14. .

Section 14.01 . Except as otherwise