Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 187

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 187
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 on or in any Company Asset that
may serve as collateral or security for any such SpinCo Guarantee, and (ii) have any member(s) of the SpinCo Group removed as guarantor of or obligor for any Company Guarantee, including the removal of any Security Interest on or in any SpinCo
Asset that may serve as collateral or security for any such Company Guarantee.

35

(b) To the extent required to obtain a release from:

(i) any SpinCo Guarantee of a member of the Company Group, SpinCo shall execute a guarantee agreement in the form of the
existing guarantee or such other form as is agreed to by the relevant parties to such guarantee agreement, which such agreement shall include the removal of any Security Interest on or in any Company Asset that may serve as collateral or security
for any such SpinCo Guarantee, except to the extent that such existing guarantee contains representations, covenants or other terms or provisions either (A) with which SpinCo would be reasonably unable to comply or (B) which SpinCo would
not reasonably be able to avoid breaching; and

(ii) any Company Guarantee of any member of the SpinCo Group, the Company
shall execute a guarantee agreement in the form of the existing guarantee or such other form as is agreed to by the relevant parties to such guarantee agreement, which agreement shall include the removal of any Security Interest on or in any SpinCo
Asset that may serve as collateral or security for any such Company Guarantee, except to the extent that such existing guarantee contains representations, covenants or other terms or provisions either (A) with which the Company would be
reasonably unable to comply or (B) which the Company would not reasonably be able to avoid breaching.

(c) If the
Company or SpinCo is unable to obtain, or to cause to be obtained, any such removal or release referred to in or , (i) the Party or the relevant member of its Group that has assumed the
Liability, with respect to which such SpinCo Guarantee or Company Guarantee, as the case may be, relates, shall indemnify, defend and hold harmless the guarantor or obligor against or from any Liability arising from or relating thereto in accordance
with the provisions of and shall, as agent or subcontractor for such guarantor or obligor, pay, perform and discharge fully all the obligations or other Liabilities of such guarantor or obligor thereunder; (ii) each of the
Company and SpinCo, on behalf of itself and the other members