Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 266

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 266
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Company Shares” (as defined in the Separation Agreement).

“” means each Benefit Plan separately
identified on to this Agreement as a Company Splitting Non-Qualified Plan.

“” means each Benefit Plan separately identified
on to this Agreement as a Company Splitting Non-U.S. DB Plan.

“” means the Warner Bros. Discovery, Inc. Supplemental Retirement Plan.

“” means
the quotient obtained by dividing() the Pre-Spin Company Stock Value by () the sum of () the Distributed SpinCo Stock Value and
() the Post-Spin Company Stock Value.

“” means employees who are
transferred or assigned from a Company Group Member to a SpinCo Group Member pursuant to .

“” shall have the meaning set forth in .

“” means services of the type provided by employees in the following Group corporate functions: () Enterprise Technology & Operations, () Finance, () Global Content Operations,
() Global Business Services, () U.S. Ad Sales, () People and Culture, () Legal, () Distribution, () Communications and Government Affairs, () Revenue and
Strategy Communications and Leadership, (xiii) Procurement, () Real Estate, () Transformation, () Corporate Development & Strategy, () Aviation & Security, and
() the Office of the Chief Executive Officer.

“” means the
product obtained by multiplying () the Post-Spin SpinCo Stock Value by () the Distribution Ratio.

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

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

“” means the number of SpinCo Shares each Record Holder (defined in the Separation Agreement) is entitled
receive for every Company Share held by such Record Holder pursuant to of the Separation Agreement.

“” means the U.S. Department of Labor.

“” means a member of the Group’s right to repayment from a current or former employee or
other service provider in respect of a tax reconciliation or equalization payment, sign-on bonus payment, relocation expense payment, tuition payment, reimbursement, loan or other similar item, including any
agreement related thereto.

“” means any union, works council, or other agency or
representative body certified or otherwise recognized for the purposes of bargaining collectively or established for the purposes of notification of or consultation on behalf of any employees.

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“” means each Company Option Award
() held by a Company Group Employee or Former Company Group Employee, () held by any SpinCo Group Employee or Former SpinCo Group Employee residing in a