Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 150

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 150
---
 only the incremental disproportionate impact may be taken into account, and only to the extent otherwise
permitted by this definition).

“” means each notional investment unit with respect to shares of
Company Stock subject to a Company DC Plan.

“” means each option to purchase shares of Company Stock
granted under any Company Stock Plan.

“” means all Intellectual Property owned or purported to be
owned by the Post-Separation Retained Entities.

“” means any performance restricted stock unit of the
Company.

“” means each restricted stock unit of the Company (other than any Company PRSU or Company DSU).

“” means the Amended and Restated Warner Bros. Discovery, Inc. Stock Incentive Plan, the Warner
Bros. Discovery, Inc. 2011 Employee Stock Purchase Plan (as amended), the Warner Bros. Discovery, Inc. 2013 Incentive Plan (as amended) and the Warner Bros. Discovery, Inc. 2005 Non-Employee Director Incentive
Plan (as amended).

“” means the adoption of this Agreement by the affirmative vote of the
holders of a majority of the outstanding shares of Company Stock entitled to vote on such matter at a stockholders’ meeting duly called and held for such purpose.

“” means the confidentiality letter agreement entered into between Buyer and the Company, dated
October 26, 2025.

“” shall mean (a) for holders who are not SpinCo Award Holders, such
holder’s continued service with Buyer and its Affiliates (including the Surviving Corporation and its Subsidiaries) and (b) for holders who are SpinCo Award Holders, such holder’s continued service with SpinCo and its Affiliates.

“” means each individual who is a Retained Entity Employee immediately prior to the Effective Time
(including those on vacation, sick leave, maternity leave, military service, lay-off, disability or other paid time off or leave of absence) and continues to be an employee of Buyer or one of its Subsidiaries
(including the Surviving Corporation) immediately following the Effective Time.

Annex A-6

“” means television shows, movies, video games, music and other
audiovisual, visual or audio content intended for broadcast, download, streaming or other transmission to an audience.

“” means Copyrights and Trademarks in, or otherwise relating to, Content.

“” means any written
contract, agreement, lease, license, note, mortgage, indenture