Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 165

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 165
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 any claim (whether made prior to, on or following the Distribution Effective Time and whether known prior to, on or following the Distribution Effective Time) in respect of a Pre-Distribution Effective Time Event under an “occurrence-based” Company Policy in effect on or prior to the Distribution Date.

“” shall mean any information, in written, oral, electronic or other tangible or intangible forms,
including any communications by or to attorneys (including attorney-client privileged communications), memoranda and other materials prepared by attorneys or under their direction (including attorney work product), as to which a Party or any member
of its Group would be entitled to assert or have asserted a privilege, including the attorney-client and attorney work product privileges.

“” shall have the meaning set forth in the Tax Matters Agreement.

“” shall mean land together with all easements, rights and interests arising out of the ownership thereof or
appurtenant thereto and all buildings, structures, improvements and fixtures located thereon.

17

“” shall mean all leases and subleases to Real
Property and, to the extent covered by such leases, any and all buildings, structures, improvements and fixtures located thereon.

“” shall mean the close of business on the date to be determined by the Company Board as the record date for
determining holders of the Company Shares entitled to receive SpinCo Shares in the Distribution.

“”
shall mean the holders of record of the Company Shares as of the Record Date.

“” shall mean, with
respect to any Person, any of such Person’s directors, officers, employees, agents, consultants, advisors, accountants, attorneys, financing sources or other representatives.

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

“” shall mean the U.S. Securities and Exchange Commission.

“” shall mean any mortgage, security interest, pledge, lien, charge, claim, option, right to acquire,
voting or other restriction, right-of-way, covenant, condition, easement, encroachment, restriction on transfer or other encumbrance of any nature whatsoever.

“” shall have the meaning set forth in .

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

“” shall have the meaning set forth in .

“” shall mean all computer software, programs and applications, including software implementations of algorithms,
models and methodologies, application software, application programming interfaces, system software and firmware, including all source code and object code versions thereof.

“” shall mean Copyrights and other Intellectual Property rights (excluding