Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 357

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 357
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Distribution, including by cooperating in good faith to obtain a Tax Opinion or, at the Company’s discretion, an IRS Ruling with respect to transactions implicating the ATB Obligations occurring after the Distribution.

(c) Any information or documents provided under this shall be kept confidential by the Party receiving the
information or documents, except as may otherwise be necessary in connection with the filing of Tax Returns or in connection with any administrative or judicial proceedings relating to Taxes or with respect to any information or documents provided
by such Party to any of its Representatives who need to know such information or need such documents in their capacities as such (and such Party shall take appropriate measures to ensure that any such Representatives hold such information or
documents in strict confidence). Notwithstanding any other provision of this Agreement, the Separation Agreement, the Merger Agreement or any Ancillary Agreement, (i) neither the Company nor any of its Affiliates shall be required to provide
SpinCo or any of its Affiliates or any other Person access to or copies of any information, documents or procedures (including the proceedings of any Tax Contest) other than information, documents or procedures that relate solely to a member of the
SpinCo Group or to the SpinCo Business, (ii) neither SpinCo nor any of its Affiliates shall be required to provide the Company or any of its Affiliates or any other Person access to or copies of any information, documents or procedures
(including the proceedings of any Tax Contest) other than information, documents or procedures that relate solely to a member of the SpinCo Group or to the SpinCo Business, (iii) in no event shall the Company or any of its Affiliates be
required to provide SpinCo or any of its Affiliates or any other

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Person access to or copies of any information or documents if such action could reasonably be expected to result in the waiver of any Privilege and (iv) in no event shall SpinCo or any of
its Affiliates be required to provide the Company or any of its Affiliates or any other Person access to or copies of any information or documents if such action could reasonably be expected to result in the waiver of any Privilege. In addition, in
the event that the Company determines that the provision of any information or documents to SpinCo or any of its Affiliates, or SpinCo determines that the provision of any information or documents to the Company or any of its Affiliates, could be
commercially detrimental, violate any