Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 148

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 148
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 by the affirmative vote of the
holders of a majority of the outstanding shares of Company Stock entitled to vote on such matter at a stockholders’ meeting duly called and held for such purpose.

“” means the confidentiality letter agreement entered into between Buyer and the Company, dated
October 26, 2025.

Annex A-6

“” shall mean (a) for holders who are not SpinCo
Award Holders, such holder’s continued service with Buyer and its Affiliates (including the Surviving Corporation and its Subsidiaries) and (b) for holders who are SpinCo Award Holders, such holder’s continued service with SpinCo
and its Affiliates.

“” means each individual who is a Retained Entity Employee immediately prior to
the Effective Time (including those on vacation, sick leave, maternity leave, military service, lay-off, disability or other paid time off or leave of absence) and continues to be an employee of Buyer or one
of its Subsidiaries (including the Surviving Corporation) immediately following the Effective Time.

“” means
television shows, movies, video games, music and other audiovisual, visual or audio content intended for broadcast, download, streaming or other transmission to an audience.

“” means Copyrights and Trademarks in, or otherwise relating to, Content.

“” means any written contract, agreement, lease, license, note, mortgage, indenture, arrangement or other
obligation.

“” has the meaning set forth in the definition of “.”

“” means the Intellectual Property set forth in of the Company Disclosure Letter.

“” means all material Contracts (including development agreements, settlement agreements, license
agreements (including Key Out-License Agreements), assignment agreements and Affiliation Agreements) relating to the development or Exploitation of any COT Properties, including all modifications, amendments
and supplements thereto, and waivers thereunder.

“” means each Senior Executive and each other
Retained Entity Employee classified by the Company as a “Career Band 2” or “Career Band 3” employee.

“” means the “Data Processing Agreement” as defined in the Separation and Distribution
Agreement.

“” has the meaning given to such term in the Separation and Distribution Agreement.

“” has the meaning given to such term in the Separation and Distribution Agreement.

“” means the “Record Date” as defined in the Separation and Distribution Agreement.

“” means the registration statement to register under the