Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 16

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 16
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 such Buyer Common Stock by
the Exchange Agent pursuant to , and a payment date subsequent to such delivery of such Buyer Common Stock by the Exchange Agent pursuant to , payable with respect to
such shares of Buyer Common Stock.

(b) . Subject to applicable Law, there shall be paid to the holder of the
shares of Buyer Common Stock issued in exchange for Book-Entry Shares in accordance with this , without interest, (A) at the time of delivery of such Buyer Common Stock by the Exchange Agent pursuant to
, the amount of dividends or other distributions with a record date after the Effective Time theretofore paid with respect to such shares of Buyer Common Stock and (B) at the appropriate payment date, the
amount of dividends or other distributions with a record date after the Effective Time but prior to the time of such delivery by the Exchange Agent pursuant to , and a payment date subsequent to the time of
such delivery by the Exchange Agent pursuant to , payable with respect to such shares of Buyer Common Stock.

Section 3.4 . The Merger Consideration issued and paid in accordance with the terms of this upon the surrender of the Certificates (or immediately, in the case of the Book-Entry Shares) shall be deemed to have been issued and paid in full satisfaction of all rights pertaining to such shares of Company Stock (other than the
right to receive dividends or other distributions, if any, in accordance with). After the Effective Time, there shall be no further registration of transfers on the stock transfer books of the Surviving
Corporation of shares of Company Stock that were outstanding immediately prior to the Effective Time. If, after the Effective Time, any Certificates formerly representing shares of Company Stock are presented to the Surviving Corporation or the
Exchange Agent for any reason, they shall be canceled and exchanged as provided in this .

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Section 3.5 . Any portion of the Exchange Fund that
remains undistributed to the former holders of Company Stock for one year after the Effective Time shall be delivered to the Surviving Corporation, upon demand, and any former holder of Company Stock who has not theretofore complied with this
shall thereafter look only to the Surviving Corporation for payment of its claim for the Merger Consideration and any dividends or other distributions with respect to Buyer Common Stock as contemplated by
.

Section 3.6 . None of Buyer, Merger Sub,
the Company, the Surviving Corporation or the Exchange Agent shall be liable to any Person in respect of any shares of Buyer