Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 361

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 361
---
 32 |
| Section 7.15 |     | Definitions                                                                   |     | 32 |

EXHIBITS & SCHEDULES

| Exhibit A    |     | Definitions                        |
| Exhibit B    |     | Data and Content Security Addendum |
| Exhibit C    |     | Data Processing Addendum           |
| Exhibit D    |     | Digital Tech Addendum              |
| Schedule I   |     | Forward Services and Fees          |
| Schedule II  |     | Reverse Services and Fees          |
| Schedule III |     | Excluded Services                  |
| Schedule IV  |     | Dependent or Interrelated Services |

iii

TRANSITION SERVICES AGREEMENT

This TRANSITION SERVICES AGREEMENT (this “”) is made and entered into as of [•], 202[•] (the
“”), by and between [DELIGHT GLOBAL MEDIA, INC.], a Delaware corporation (“”), and [NEW WONDER], a Delaware corporation (the “” and together with SpinCo, each, a
“” and together, the “”).

RECITALS

WHEREAS, the Company and SpinCo have entered into a Separation and Distribution Agreement, dated as of [•] (as may be amended, modified
or restated from time to time, the “”), pursuant to which the Company and SpinCo will each become an independent, separately-traded public company (the “”);

WHEREAS, pursuant to, and in connection with the transactions contemplated by the Separation and Distribution Agreement and in order to ensure
the continuity of certain functions and operations related to the Company Business and the SpinCo Business (each as defined in the Separation and Distribution Agreement), the Company and SpinCo have agreed to duly execute a transition services
agreement; and

WHEREAS, SpinCo desires that the Company provide certain services to SpinCo and its Affiliates on a transitional basis as
described in Schedule I attached to this Agreement (the “”) and the Company desires that SpinCo provide certain services to the Company and its Affiliates on a transitional basis as described in
Schedule II attached to this Agreement (the “,” and each Forward Service or Reverse Service, a “” and collectively, the “”).

NOW, THEREFORE, in consideration of the foregoing and the covenants herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

ARTICLE I

SER