Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 210

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 210
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 (B) the date
any disputed matters are finally resolved in writing by the Accountant.

43

During the ten (10) Business Day period following the delivery of a Notice of Disagreement, the Parties shall seek in good faith to resolve in writing any differences that they may have with
respect to the matters specified in the Notice of Disagreement. At the end of such ten (10) Business Day period, if any matters remain in dispute, the Parties shall submit to a nationally recognized independent public accountant (the
“”) for determination any and all such matters that remain in dispute and were properly included in the Notice of Disagreement. The Accountant, who shall act as expert and not arbitrator, shall be a nationally recognized
independent public accounting firm as shall be agreed upon by the Company and SpinCo in writing. The scope of the disputes to be resolved by the Accountant shall be solely limited to whether the determination of Net Debt as of the Distribution
Effective Time was done in accordance with this (including the other definitions utilized in, and related to, Net Debt), and whether there were mathematical errors in the Statement. The Company and SpinCo shall
use reasonable best efforts to cause the Accountant to render a decision resolving the matters submitted to the Accountant within thirty (30) days of receipt of the submission. Judgment may be entered upon the determination of the Accountant in
any court having jurisdiction over the party against which such determination is to be enforced. The fees and expenses of the Accountant pursuant to this shall be equally shared by the Company and SpinCo. Other
than the fees and expenses referred to in the immediately preceding sentence, the fees and disbursements of SpinCo’s independent auditors, attorneys and other consultants shall be borne by SpinCo and the fees and disbursements of the
Company’s independent auditors, attorneys and other consultants shall be borne by the Company.

(c) (i) If the amount
of the Net Debt as of the Distribution Effective Time in the final Statement:

(A) is greater than the Specified Amount,
the Company shall pay to SpinCo the amount of such difference, or

(B) is less than the Specified Amount, SpinCo shall pay
to the Company the amount of such difference.

(ii) Any payment made pursuant to this
shall be made by wire transfer in immediately available funds to one or more accounts designated in writing at least two (2) Business Days prior to such payment by the party entitled to receive such
payment.

(d