Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 313

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 313
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| Section 7.03                                                                                    |     | Miscellaneous.                                      |     |      | 13 |

INTELLECTUAL PROPERTY MATTERS AGREEMENT

This INTELLECTUAL PROPERTY MATTERS AGREEMENT (this “”), dated as of [•] (the “”), is by and between [New Wonder], a Delaware corporation (the “”), and [Delight] Global Media, Inc., a Delaware corporation (“”). Each of the Company and SpinCo are referred to
herein as a “”, and together, as the “”.

WHEREAS, pursuant to that certain Separation
and Distribution Agreement, dated as of [•], by and between the Parties (the “”), the Parties have agreed to take certain actions for purposes of effecting a Separation of the SpinCo
Business from the Company Business, including allocating ownership of certain Intellectual Property and Software to either the SpinCo Business or the Company Business, as set forth in more detail therein (all capitalized terms used but not defined
herein shall have the meaning set forth in the Separation and Distribution Agreement); and

WHEREAS, in connection with the transactions
contemplated by the Separation and Distribution Agreement, the Parties desire to enter into this Agreement to address certain matters related to such Intellectual Property and Software;

NOW, THEREFORE, in consideration of the mutual covenants contained herein and in the Separation and Distribution Agreement, and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties agree as follows:

ARTICLE I

DEFINITIONS

Section 1.01 . The following capitalized terms as used in this Agreement shall
have the meanings specified in this :

“” has the meaning set forth in the Separation and
Distribution Agreement.

“” has the meaning set forth in the Preamble.

“” has the meaning set forth in
.

“” has the meaning set forth in
.

“” means the platform that is the subject of rTSA Sub-Schedule ST-R02 (as defined in the Transition Services Agreement).

“” has the meaning set forth in the Separation and Distribution Agreement.

“” has the meaning set forth in .

“” has the meaning set forth in the Separation and Distribution Agreement.

“” has the meaning set forth in
.

“” means Warner Media International Limited
(UK) and Warner Bros. Entertainment Nederland B.V. (NL).

“” has the meaning set forth in
.

“” means television shows, movies