Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 245

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 245
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 the remaining
provisions of this , the Parties agree that they shall have a shared privilege or immunity with respect to all privileges and immunities not allocated pursuant to and all
privileges and immunities relating to any Actions or other matters that involve both Parties (or one or more members of their respective Groups) and in respect of which both Parties have Liabilities under this Agreement, and that no such shared
privilege or immunity may be waived by either Party without the consent of the other Party. The Parties shall use the procedures set forth in Article to resolve any disputes as to whether any Privileged Information relates solely to the
Company Business, solely to the SpinCo Business, or to both the Company Business and the SpinCo Business.

(d) If any
dispute arises between the Parties or any members of their respective Groups regarding whether a privilege or immunity should be waived to protect or advance the interests of either Party or any member of its Group, each Party agrees that it shall
(i) negotiate with the other Party in good faith; (ii) endeavor to minimize any prejudice to the rights of the other Party; and (iii) not unreasonably withhold, condition or delay consent to any request for waiver by the other Party.
In addition, each Party specifically agrees that it shall not withhold its consent to the waiver of a privilege or immunity for any purpose except to protect its own legitimate interests.

71

(e) In the event of any adversarial Action or Dispute between the Company
and SpinCo, or any members of their respective Groups, either Party may waive a privilege in which the other Party or member of such other Party’s Group has a shared privilege, without obtaining consent pursuant to
; that such waiver of a shared privilege shall be effective only as to the use of Privileged Information with respect to the Action or Dispute between the Parties or the applicable members of
their respective Groups, and shall not operate as a waiver of the shared privilege with respect to any Third Party.

(f)
Upon receipt by either Party, or by any member of its Group, of any subpoena, discovery or other request that may reasonably be expected to result in the production or disclosure of Privileged Information subject to a shared privilege or immunity or
as to which the other Party has the sole right hereunder to assert a privilege or immunity, or if either Party obtains knowledge that any of its, or any member of its respective Group’s, current or former directors, officers, agents or
employees has received any subpoena, discovery or other request that may