Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 194

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 194
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 Asset or Liability is transferred for U.S. federal and applicable state or local income tax purposes from and after such time, to the extent
permitted by applicable Law.

(e) Costs for Delayed SpinCo Assets and Delayed SpinCo Liabilities. Any member of the
Company Group retaining a Delayed SpinCo Asset or Delayed SpinCo Liability as a result of the deferral of the contribution, assignment, transfer, conveyance or delivery of or succession to such Delayed SpinCo Asset or the deferral of the

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acceptance or assumption of, performance, discharge and fulfillment of or succession to such Delayed SpinCo Liability, as the case may be, shall not be obligated, in connection with the
foregoing, to expend any money unless the necessary funds are advanced (or otherwise made available) by SpinCo or the member of the SpinCo Group entitled to the Delayed SpinCo Asset or Delayed SpinCo Liability, other than reasonable out-of-pocket expenses, attorneys’ fees and recording or similar fees for completing the contribution, assignment, transfer, conveyance or delivery of or succession to
such Delayed SpinCo Asset or the acceptance or assumption of, performance, discharge and fulfillment of or succession to such Delayed SpinCo Liability, all of which shall be borne by the Company or the member of the Company Group incurring such
expenses or fees.

(f) Approvals and Notifications for Company Assets. To the extent that the contribution,
assignment, transfer, conveyance or delivery of or succession to any Company Asset or the acceptance or assumption of, performance, discharge and fulfillment, or succession to any Company Liability, in each case under
, is determined to be a transfer or assignment that requires any Approvals or Notifications, the Parties shall use commercially reasonable efforts to obtain or make such Approvals or Notifications as soon as
reasonably practicable; , , that, except to the extent expressly provided in this Agreement or any of the Ancillary Agreements or as otherwise agreed between the Company and SpinCo, neither the Company nor SpinCo shall
be obligated to contribute capital or pay any consideration in any form (including providing any letter of credit, guaranty or other financial accommodation) to any Person in order to obtain or make such Approvals or Notifications.

(g) Delayed Company Transfers. If and to the extent that the valid, complete and perfected contribution, assignment,
transfer, conveyance or delivery to or succession of the Company Group of any Company Asset or acceptance or assumption by, performance, discharge and