Company: WBD
Filing Date: 2025-02-27
Form Type: S-3ASR
Source: 0001193125-25-039203
Chunk: 41

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-02-27
Form: S-3ASR
Chunk 41
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ary receipts. Holders of the series of preferred stock thus withdrawn may not thereafter
deposit those shares under the deposit agreement or receive depositary receipts evidencing depositary shares therefor.

Redemption of Depositary Shares

Whenever WBD redeems shares of the series of preferred stock held by the depositary, the depositary will redeem as of the same
redemption date the number of depositary shares representing shares of the series of preferred stock so redeemed, so long as WBD has paid in full to the depositary the redemption price of the preferred stock to be redeemed plus an amount equal to
any accumulated and unpaid dividends on the series of preferred stock to the date fixed for redemption. The redemption price per depositary share will be equal to the redemption price and any other amounts per share payable on the series of
preferred stock multiplied by the fraction of a share of preferred stock represented by one depositary share. If less than all the depositary shares are to be redeemed, the depositary shares to be redeemed will be selected by lot or pro rata or by
any other equitable method as may be determined by the depositary.

After the date fixed for redemption, depositary shares called for
redemption will no longer be deemed to be outstanding and all rights of the holders of depositary shares will cease, except the right to receive the monies payable upon redemption and any money or other property to which the holders of the
depositary shares were entitled upon redemption upon surrender to the depositary of the depositary receipts evidencing the depositary shares.

Voting the Preferred Stock

Upon receipt of notice of any meeting at which the holders of the series of preferred stock are entitled to vote,
the depositary will mail the information contained in the notice of meeting to the record holders of the depositary receipts relating to that series of preferred stock. The record date for the depositary receipts relating to the series of preferred
stock will be the same date as the record date for the series of preferred stock. Each record holder of the depositary shares on the record date will be entitled to instruct the depositary as to the exercise of the voting rights pertaining to the
number of shares of the series of preferred stock represented by that holder’s depositary shares. The depositary will endeavor, insofar as practicable, to vote the number of shares of the series of preferred stock represented by the depositary
shares in accordance with those instructions, and WBD will agree to take all action that may be deemed necessary by the depositary in order to