Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 122

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 122
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 of their respective Representatives from, against and in respect of any and all claims, debts, losses, costs,
expenses, proceedings, covenants, suits, judgments, damages, actions and causes of actions, obligations, accounts and liabilities resulting from, or that exist or arise, in connection with such cooperation under the last sentence of
, the arrangement of any such financing or refinancing to be undertaken by the Company or any of its Subsidiaries (including any member of the Spinco Group) and any information used in connection therewith,
except to the extent such claims, debts, losses, costs, expenses, proceedings, covenants, suits, judgments, damages, actions and causes of actions, obligations, accounts and liabilities directly result from the gross negligence or willful misconduct
of such indemnified Persons. This clause (h) shall survive any termination of this Agreement.

(i) Notwithstanding anything contained
in this Agreement to the contrary, Buyer expressly acknowledges and agrees that (i) its obligations hereunder, including to consummate the Closing subject to the terms and conditions hereof, are not conditioned in any manner upon Buyer
obtaining the Financing (including, for the avoidance of doubt, any securities issuance) and (ii) any breach by the Company of or shall be deemed not to
constitute a breach for all of purposes of this Agreement (including for purposes of and ) unless (w) the Financing has not been consummated as a result of the
failure of any condition precedent to the funding of the Financing, (x) the Company has materially breached its obligations under or , (y) such breach is the
proximate cause of the Financing not being consummated and (z) Buyer has notified the Company of such breach in writing a reasonably sufficient amount of time prior to the End Date to afford the Company with reasonable opportunity to cure such
breach (detailing in good faith (I) reasonable specificity as to the basis for any such breach and (II) reasonable steps that comply with or in order to
cure such breach) and the Company has not taken such steps or otherwise cured such breach within such time as would reasonably permit Buyer to consummate the Financing prior to the End Date.

ARTICLE VII

CONDITIONS

Section 7.1 . The respective obligation of each Party to consummate the Merger is subject to
the satisfaction or waiver at or prior to the Closing of each of the following conditions:

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(a) . The Separation and Distribution shall