Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 116

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 116
---
(i) the Effective Time shall not have occurred on or before March 4, 2027, or such other date agreed in writing by Buyer and the Company
(any such date, the “”); , , that (A) if, on March 4, 2027, any of the conditions set forth in or
(solely in connection with an Antitrust Law or Foreign Regulatory Law) has not been satisfied or waived, then the End Date shall be automatically extended, without any further action on the part of any Party hereto, to June 4, 2027, (B) if, on
June 4, 2027, any of the conditions set forth in or (solely in connection with an Antitrust Law or Foreign Regulatory Law) has not been satisfied or waived, then
the End Date shall be automatically extended, without any further action on the part of any Party hereto, to September 4, 2027 and (C) if all the conditions set forth in are satisfied or waived (other than those
conditions that by their terms are to be fulfilled at the Closing, but subject to the fulfillment or waiver of such conditions) prior to 11:59 p.m., Eastern Time, on the End Date, but as of such time, the Specified Date would occur after the End
Date, the End Date shall be automatically extended, without any further action on the part of any Party hereto, to 11:59 p.m., Eastern Time, on the Specified Date; that the right to terminate the Agreement pursuant to this
shall not be the available to a Party whose breach in any material respect of its obligations under this Agreement has been the primary cause of the failure of the Closing to occur on or before such date;

(ii) any Governmental Entity of competent jurisdiction shall have issued, enacted, enforced or entered any Governmental Order
permanently enjoining or prohibiting the consummation of the Merger, and such Governmental Order shall have become final and non-appealable; that the Party seeking to terminate this Agreement
pursuant to this shall not have breached in any material respect its obligations under this Agreement in any manner that has been the primary cause of such Governmental Order; or

-77-

(iii) if the Company Stockholder Meeting (including any adjournments or postponements
thereof) shall have been held and been concluded and the Company Stockholder Approval shall not have been obtained upon a vote taken thereon;