Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-308654
Chunk: 18

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 18
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 the Company’s stockholders approve the Merger and adopt this Agreement (the “”) and directed that this Agreement be submitted to the holders of Company Stock
for their adoption;

WHEREAS, the board of directors of the New Company (the “”) has
() determined that the terms of this Agreement and the Transactions, including the Merger, are fair to, and in the best interests of, the New Company and its stockholder(s), () determined that it is in the best interests
of the New Company and its stockholder(s) and declared it advisable to enter into this Agreement, () approved the execution and delivery by the New Company of this Agreement, the performance by the New Company of its covenants and
agreements contained herein and the consummation of the transactions contemplated by this Agreement, including the Merger, upon the terms and subject to the conditions set forth herein and () resolved to recommend that the New
Company’s stockholder(s) approve the Merger and adopt this Agreement and directed that this Agreement be submitted to the stockholder(s) of the Company for their adoption;

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WHEREAS, the board of directors of Buyer (the “”) has
() determined that the terms of this Agreement and the transactions contemplated hereby, including the Merger and the issuance of shares of Buyer Common Stock pursuant to the Merger and this Agreement (the “”), are fair to, and in the best interests of, Buyer and its stockholders, () determined that it is in the best interests of Buyer and its stockholders and declared it advisable to enter into this Agreement, and
() approved the execution and delivery by Buyer of this Agreement, the performance by Buyer of its covenants and agreements contained herein and the consummation of the transactions contemplated by this Agreement, including the Merger
and the Buyer Share Issuance, upon the terms and subject to the conditions set forth herein;

WHEREAS, () the board of
directors of Merger Sub has approved this Agreement and determined that the terms of this Agreement and the transactions contemplated hereby, including the Merger, are fair to, and in the best interests of, Merger Sub and Buyer, its sole
stockholder, and () Buyer, in its capacity as the sole stockholder of Merger Sub, has approved the Merger and adopted this Agreement; and

WHEREAS, Buyer, the Company and Merger Sub desire to make certain representations, warranties, covenants and agreements specified herein in
connection with this Agreement.

NOW, THEREFORE