Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 202

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 202
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 Contracts; and (vii) any New SpinCo Debt Securities.

(c) Except as set forth on , all outstanding intercompany accounts receivable and accounts payable
between any member of the Company Group, on the one hand, and any member of the SpinCo Group, on the other hand, shall, prior to the Distribution Effective Time, be repaid, settled or otherwise eliminated by means of cash payments, a dividend,
capital contribution, a combination of the foregoing or otherwise, as reasonably determined by the Company and SpinCo. If, for any reason, any

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outstanding intercompany accounts receivable or accounts payable between any member of the Company Group, on the one hand, and any member of the SpinCo Group, on the other hand, (other than those
set forth on ) is not repaid, settled or otherwise eliminated as of the Distribution Effective Time, each of the Parties shall use its reasonable best efforts to take, or cause to be taken, all actions, and to do, or cause to
be done, all things, reasonably necessary, proper or advisable to repay, settle or otherwise eliminate such intercompany accounts receivable or accounts payable in a manner that would have a substantially similar effect (including with respect to
Taxes) on the Company Group and the SpinCo Group as if such repayment, settlement or elimination occurred immediately prior to the Distribution Effective Time.

2.8 .

(a) Subject to applicable Law and without limiting the generality of the obligations set forth in
, unless the Parties otherwise agree, or the benefits of any contract, agreement, arrangement, commitment or understanding described in this are expressly conveyed to the
applicable Party pursuant to this Agreement or an Ancillary Agreement, any contract or agreement, a portion of which is a SpinCo Contract, but the remainder of which is a Company Contract, or a portion of which is a Company Contract, but the
remainder of which is SpinCo Contract (any such contract or agreement, including those set forth on , a “”), shall be assigned in relevant part to the applicable member(s) of the applicable Group,
if so assignable, or appropriately amended prior to, at or after the Distribution Effective Time, so that each Party or the member of its Group shall, as of the Distribution Effective Time, (i) be entitled to the rights and benefits,
(ii) assume the related portion of any Liabilities, inuring to its respective businesses and (iii) take any actions set forth on with respect to such Shared Contract; , , that (