Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 251

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 251
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 Time in accordance
with .

“” shall have the meaning ascribed to it in the Separation Agreement.

“” means this Employee Matters Agreement, including all the exhibits hereto, and all amendments made hereto from
time to time.

“” shall have the meaning ascribed to it in the Separation Agreement.

“” means, only for any Company Group Employee or SpinCo Group Employee directly involved in providing
transition services to the SpinCo Group or Company Group, as applicable, pursuant to the applicable Transition Services Agreement, the period from the Distribution Effective Time through the date on which the obligation to provide all such
transition services under the Transition Services Agreement has terminated.

-1-

“” shall have the meaning ascribed to it in the Separation
Agreement.

“” mean any benefit or compensation plan, program, policy, practice, agreement, contract,
arrangement or other obligation, whether or not in writing and whether or not funded, in each case, which is sponsored or maintained by, or required to be contributed to, or with respect to which any potential liability is borne. Benefit Plans
include, but are not limited to, “employee benefit plans” within the meaning of Section 3(3) of ERISA (whether or not subject to ERISA), “voluntary employees’ beneficiary associations,” under Section 501(c)(9)
of the Code, employment, consulting, retirement, severance, termination or change in control agreements and deferred compensation, gratuity, termination allowance, equity-based, incentive, bonus, supplemental retirement, profit sharing, insurance,
medical, welfare, vacation, fringe or other benefits, or remuneration of any kind.

“” shall have the
meaning set forth in .

“” means the continuation coverage requirements
for “group health plans” under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and as codified in Section 4980B of the Code and Sections 601 through 608 of ERISA.

“” means the U.S. Internal Revenue Code of 1986, as amended.

“” shall have the meaning ascribed to it in the preamble to this Agreement.

“” shall have the meaning set forth in .

“” means the Board of Directors of the Company.

“” shall have the meaning ascribed to it in the Separation Agreement.

“” means the unitized stock fund investment option offered or to be offered under the Company U.S.
Savings Plan, with a value based on the