Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 338

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 338
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 the items described in clause (i) of this .

(e) . Any payments required to be made by the Company to SpinCo (or any member
of the SpinCo Group), or by SpinCo to the Company (or any member of the Company Group), as the case may be, pursuant to this shall be made on an After-Tax Basis.

23

Section 4.03 .

(a) . Tax Refunds described in shall be allocated between the Company and SpinCo in the
proportions set forth in . Except as provided in the immediately preceding sentence, and subject to the limitations in , the Company shall be entitled to any Tax Refund (and any interest thereon
received from the applicable Tax Authority) with respect to Taxes for which the Company is liable hereunder, and SpinCo shall be entitled to any Tax Refund (and any interest thereon received from the applicable Tax Authority) with respect to Taxes
for which SpinCo is liable hereunder.

(b) . If a member of the Company Group receives a Tax
Refund with respect to Taxes for which SpinCo is liable hereunder, the Company shall promptly notify SpinCo and provide a Payment Notice to SpinCo setting forth the amount of such Tax Refund, net of any reasonable out-of-pocket costs and expenses incurred by the Company Group and any Taxes thereon, which the Company shall pay to SpinCo in accordance with .

(c) . If a member of the SpinCo Group receives a Tax Refund with respect to Taxes for which the
Company is liable hereunder, SpinCo shall promptly notify the Company and provide a Payment Notice to the Company setting forth the amount of such Tax Refund, net of any reasonable
out-of-pocket costs and expenses incurred by the SpinCo Group and any Taxes thereon, which SpinCo shall pay to the Company in accordance with
.

(d) . The initial determination of
the amount of any payment that one Party is required to make to another under this Agreement shall be made on the basis of the Tax Return as filed, or, if the Tax to which the payment relates is not reported on a Tax Return, on the basis of the
amount of Tax initially paid to the Tax Authority. The amounts paid under this Agreement shall be redetermined, and additional payments relating to such redetermination shall be made, as appropriate, if as a result of an Adjustment Request or for
any other reason (x) additional Taxes to which such determination relates are subsequently paid, (y) a Tax Refund or a Tax