Company: WBD
Filing Date: 2025-02-27
Form Type: S-3ASR
Source: 0001193125-25-039203
Chunk: 11

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-02-27
Form: S-3ASR
Chunk 11
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 senior debt
securities will constitute unsecured and unsubordinated obligations of the applicable issuer and will rank pari passu with such issuer’s other unsecured and unsubordinated obligations. The subordinated debt securities will constitute the
applicable issuer’s unsecured and subordinated obligations and will be junior in right of payment to such issuer’s Senior Indebtedness (including senior debt securities), as described under the heading “—Certain Terms of the
Subordinated Debt Securities—Subordination.”

9

The debt securities will be the applicable issuer’s unsecured obligations. Any secured debt or other secured obligations will be effectively senior to the debt securities to the extent of the value of the assets securing such debt or other obligations. The applicable prospectus supplement and/or free writing prospectus will include any additional or different terms of the debt securities being offered, including the following terms:

| • |     | the issuer, title and type of the debt securities; |

| • |     | whether the debt securities will be senior or subordinated debt securities, and, with respect to debt securities                                                                                                                                     
 issued under the subordinated indenture, as applicable, that the subordination provisions of the indenture shall apply to the securities of that series or that any different subordination provisions, including different definitions of the terms 
 “senior indebtedness” or “existing subordinated indebtedness,” shall apply to securities of that series;                                                                                                                                             |

| • |     | the aggregate principal amount of the debt securities; |

| • |     | the price or prices at which such issuer will sell the debt securities; |

| • |     | the maturity date or dates of the debt securities and the right, if any, to extend such date or dates; |

| • |     | the rate or rates, if any, per year, at which the debt securities will bear interest, or the method of 
 determining such rate or rates;                                                                        |

| • |     | the date or dates from which such interest will accrue, the interest payment dates on which such interest will be 
 payable or the manner of determination of such interest payment dates and the related record dates;               |

| • |     | the right, if any, to extend the interest payment periods and the duration of that extension; |

| • |     | the manner of paying principal and interest and the place or places where principal and interest will be payable; |

| • |     | provisions for a sinking fund purchase or other analogous fund, if any; |

| • |     | any redemption