Company: WBD
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001437107-25-000078
Chunk: 9

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 9
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 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

■ Delivered numerous Studios hits, including:

■ Dune: Part Two, WBD's top grossing movie of 2024, with over $700 million in the global box office, and

■ The Penguin, which ranks as one of the top three most viewed original debut seasons on Max and represents the powerful potential for collaboration among DC Studios, Max and Warner Bros. Television.

■ Continued to produce award-winning content at Warner Bros. Television, HBO and Warner Bros. Motion Picture Group, resulting in 16 primetime Emmy® Awards, as well as four Golden Globe® Awards and two Academy Awards®.

We also made significant announcements related to our Linear business in 2024, including:

■ Multi-year renewal agreements with major pay-TV providers domestically, which will continue to generate overall affiliate rate increases while providing access to DTC apps and/or accommodate greater packaging flexibility in line with industry trends to support the longer-term health and sustainability of the linear ecosystem.

■ Resolution of our negotiations with the NBA and entry into a far more efficient long-term relationship with the league for rights to NBA games in certain international markets as well as rights to NBA digital highlights globally for Bleacher Report . At the same time, through adjacent negotiations with ESPN, we will continue to produce the iconic Inside the NBA franchise and gain rights to certain Big XII football and basketball games.

| 16 |

| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |     | Audit   
 Matters |     | Executive    
 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

| Proposal One          
 Election of Directors |     |                                                                                                                    |
|                       |     | The Warner Bros. Discovery, Inc. Board of Directors recommends a vote"FOR"the election of the nominated directors. |

#### Our Board of Directors
Our Board has general oversight responsibility for the Company’s affairs pursuant to the Delaware General Corporation Law and the Company’s Second Restated Certificate of Incorporation and Bylaws. In exercising its fiduciary duties, the Board represents and acts on behalf of the Company’s stockholders and is committed to strong corporate governance, as reflected through its policies and practices. The Board is deeply involved in the Company’s strategic planning process, leadership development, succession planning, and oversight of risk management.

#### 2025 PROXY STATEMENT17
| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate