Company: WBD
Filing Date: 2025-12-10
Form Type: DFAN14A
Source: 0001193125-25-314445
Chunk: 7

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-10
Form: DFAN14A
Chunk 7
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 | How do I tender my shares? |

| • |     | If you are the record holder of your shares: |

| • |     | Mail the following to Equiniti Trust Company, LLC, which is acting as depositary in the offer, at one of the 
 addresses specified in the Letter of Transmittal:                                                            |

| • |     | the certificates representing your shares; |

| • |     | a completed Letter of Transmittal; and |

| • |     | any other documents required by the Letter of Transmittal. |

| • |     | If you hold your shares in street name (i.e., through a broker, dealer, commercial bank, trust company or other 
 nominee (a “Broker”)):                                                                                          |

| • |     | Request that your Broker effect the transaction for you. |

| • |     | Each such Broker will detail the process in its communication to you about the offer. |

| • |     | Contact Okapi Partners LLC (“Okapi”), our information agent, at the number or email set forth below 
 for assistance with tendering your shares or with any other specific questions about the offer.     |

| • |     | For detailed instructions on procedures for tendering your shares, please see the section of the Offer to                                         
 Purchase entitled “The Offer–Section 3–Procedure for Tendering Shares,” which can be accessed here.                                               
 A form of the Letter of Transmittal is filed as an exhibit to the Schedule TO-T filed by Paramount with the SEC, which form can be accessed here. |

| 3) | When should I tender my shares? |

| 4) | Can I withdraw my tender if I change my mind? |

| 5) | Who should I call with questions about tendering my shares? |

| • |     | You may direct questions and requests for assistance to Okapi. Banks and brokerage firms can call (212) 297-0720, and shareholders and all others can call toll-free (844) 343-2621. They can also be reached via email at info@okapipartners.com. |

Other Questions We Have Heard From WBD Shareholders

| 1) | What is the Lawrence J. Ellison Revocable Trust u/a/d 1/22/88 (the “Trust”)? |

| • |     | Larry Ellison’s Trust holds substantially all of Mr. Ellison’s assets, including           
 1.158 billion shares of Oracle Corporation