Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 117

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 117
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(c) by the Company:

(i) if
Buyer or Merger Sub shall have breached or failed to perform in any material respect any of their representations, warranties, covenants or other agreements contained in this Agreement, which breach or failure to perform (A) would result in a
failure of a condition set forth in or and (B) cannot be cured by the End Date or, if curable, is not cured by the earlier of (x) the End Date and
(y) forty-five (45) days following the Company’s delivery of written notice to Buyer stating the Company’s intention to terminate this Agreement pursuant to this and the basis for
such termination; that the Company shall not have a right to terminate this Agreement pursuant to this if the Company is then in material breach of any representation, warranty, agreement
or covenant contained in this Agreement; or

(ii) prior to receipt of the Company Stockholder Approval, in order to enter into a
definitive agreement providing for a Company Superior Proposal subject to compliance with .

(d)
by Buyer:

(i) if the Company shall have breached or failed to perform in any material respect any of its representations, warranties,
covenants or other agreements contained in this Agreement, which breach or failure to perform (A) would result in a failure of a condition set forth in or and
(B) cannot be cured by the End Date or, if curable, is not cured by the earlier of (x) the End Date and (y) 45 days following Buyer’s delivery of written notice to the Company stating Buyer’s intention to terminate this
Agreement pursuant to this and the basis for such termination; , that Buyer shall not have a right to terminate this Agreement pursuant to this if
Buyer or Merger Sub is then in material breach of any representation, warranty, agreement or covenant contained in this Agreement; or

(ii) prior to receipt of the Company Stockholder Approval, if the Company Board shall have effected a Change in the Company Recommendation.

Section 8.2 . In the event of a valid termination of this Agreement pursuant to
, the terminating Party shall forthwith give written notice thereof to the other Party or Parties and this Agreement shall terminate, and the transactions contemplated hereby shall be abandoned, without further
action by any of the Parties. In the event of a valid termination of this Agreement pursuant to , this Agreement shall forthwith become null and void and there shall be no liability or obligation on the part of
the Company, Buyer, Merger Sub