Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 138

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 138
---
 and the Company, dated
October 26, 2025.

“” shall mean (a) for holders who are not SpinCo Award Holders, such
holder’s continued service with Buyer and its Affiliates (including the Surviving Corporation and its Subsidiaries) and (b) for holders who are SpinCo Award Holders, such holder’s continued service with SpinCo and its Affiliates.

“” means each individual who is a Retained Entity Employee immediately prior to the Effective Time
(including those on vacation, sick leave, maternity leave, military service, lay-off, disability or other paid time off or leave of absence) and continues to be an employee of Buyer or one of its Subsidiaries
(including the Surviving Corporation) immediately following the Effective Time.

Annex A-6

“” means television shows, movies, video games, music and other
audiovisual, visual or audio content intended for broadcast, download, streaming or other transmission to an audience.

“” means Copyrights and Trademarks in, or otherwise relating to, Content.

“” means any written
contract, agreement, lease, license, note, mortgage, indenture, arrangement or other obligation.

“” has the
meaning set forth in the definition of “.”

“” means the
Intellectual Property set forth in of the Company Disclosure Letter.

“”
means all material Contracts (including development agreements, settlement agreements, license agreements (including Key Out-License Agreements), assignment agreements and Affiliation Agreements) relating to
the development or Exploitation of any COT Properties, including all modifications, amendments and supplements thereto, and waivers thereunder.

“” means each Senior Executive and each other Retained Entity Employee classified by the Company as a
“Career Band 2” or “Career Band 3” employee.

“” means the “Data
Processing Agreement” as defined in the Separation and Distribution Agreement.

“” has the meaning
given to such term in the Separation and Distribution Agreement.

“” has the meaning given to such
term in the Separation and Distribution Agreement.

“” means the “Record Date” as
defined in the Separation and Distribution Agreement.

“” means the registration
statement to register under the Securities Act or the Exchange Act, as applicable, the Spinco Shares (as defined in the Separation and Distribution Agreement) to be distributed in the Distribution, as such registration statement may be amended or
supplemented from time to time.

“