Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 155

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 155
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 member of the Company Group, will be released from its obligations thereunder in connection with the completion of the Separation (in which case
such agreements and instruments shall be SpinCo Assets);

(d) Company Leases;

(e) any guarantee, indemnity, representation, covenant, warranty or other Liability of either Party or any member of its Group
in respect of any other Company Contract, any Company Liability or the Company Business;

(f) any interest rate, currency,
commodity or other swap, collar, cap or other hedging or similar agreements or arrangements related primarily to the Company Business; and

(g) any contracts or agreements listed on , including the right to recover any amounts
under such contracts, agreements or settlements.

“” means all information (a) incorporated by
reference from the Company’s securities filings or (b) relating to (i) the Company Business, (ii) the Company Group, (iii) the Company Liabilities, (iv) the Company Assets, (v) the Merger or Buyer and
(vi) the Company Board’s consideration of the Separation and the Distribution or the Merger.

“” shall have the meaning set forth in .

8

“” shall mean the Company and each Subsidiary of the Company
(other than SpinCo and any other member of the SpinCo Group).

“” shall have the meaning set
forth in the Employee Matters Agreement.

“” shall mean guarantees, letters of credit, surety bonds
and similar credit support obligations of any member of the SpinCo Group for the benefit of any member of the Company Group or the Company Business.

“” shall have the meaning set forth in .

“” shall mean: (a) the Patents set forth on ,
(b) the Trademarks set forth on , (c) the Software IP for Software set forth on , (d) the Content IP for Content in the categories set forth on , and (e) other
than the Intellectual Property set forth on Schedules 1.12(a), 1.12(b), 1.12(c) and 1.12(d), with respect to all other Intellectual Property owned by either Party or any member of its Group as of the Distribution Effective Time, all such
Intellectual Property that is primarily used or primarily held for use in the Company Business.

“”
shall mean any and all Information Technology owned or leased by or licensed to either Party or any member of its Group as of the Distribution Effective Time that is primarily used or held for use in