Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 153

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 153
---
 Processing Agreement.

“” shall mean any consents, waivers, approvals, permits or authorizations to be obtained from,
notices, registrations or reports to be submitted to, or other filings to be made with, any Third Party, including any Governmental Authority, in connection with the Separation, the Distribution or the other transactions contemplated by this
Agreement.

“” shall mean, with respect to any Person, the assets, properties, claims and rights (including
goodwill) of such Person, wherever located (including in the possession of vendors or other Third Parties or elsewhere), of every kind, character and description, whether real, personal or mixed, tangible, intangible or contingent, in each case
whether or not recorded or reflected or required to be recorded or reflected on the books and records or financial statements of such Person, including rights and benefits pursuant to any contract, license, permit, indenture, note, bond, mortgage,
agreement, concession, franchise, instrument, undertaking, commitment, understanding or other arrangement.

6

“” shall mean either the Company Business or the SpinCo Business,
as the context requires.

“” shall have the meaning set forth in
.

“” shall have the meaning set forth in the Recitals.

“” shall mean, on a consolidated basis, the aggregate balance of cash and cash equivalents,
currency on hand, cash balances in deposits with banks or financial institutions, investment accounts, negotiable instruments, checks, money orders, marketable securities, short-term instruments and other cash equivalents, the amount of
any undeposited checks and uncleared drafts and wires sent to third parties, the amount of any deposits in transit.

“” shall mean the agreements set forth on ,in each case to be entered into
by and between the Company and SpinCo or members of their respective Groups in connection with the Separation, the Distribution and the other transactions contemplated by this Agreement, as such agreements may be amended from time to time in
accordance with .

“” shall have the meaning set forth in the Preamble.

“” shall have the meaning set forth in .

“” shall have the meaning set forth in .

“” shall have the meaning set forth in the Recitals.

“” shall mean all businesses, operations and activities (whether or not such businesses, operations or
activities have been terminated, divested or discontinued) conducted at any time prior to the Distribution Effective Time by either Party or any current or former member of its Group, other than the SpinCo Business