Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 184

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 184
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 direct or indirect right,
title and interest in and to all the Company Assets; and

(iv) Acceptance and Assumption of Company Liabilities. The
Company or certain members of the Company Group designated by the Company shall accept, assume, agree faithfully to perform, discharge and fulfill, or succeed to, all the Company Liabilities held by SpinCo or any SpinCo Designee. The Company and the
applicable

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members of the Company Group shall be responsible for all Company Liabilities in accordance with their respective terms, regardless of when or where such Company Liabilities arose or arise, or
whether the facts on which they are based occurred prior to or subsequent to the Distribution Effective Time, regardless of where or against whom such Company Liabilities are asserted or determined (including any such Company Liabilities arising out
of claims made by the Company’s or SpinCo’s respective Representatives, Subsidiaries or Affiliates, or by the respective Representatives of their Subsidiaries or Affiliates, against any member of the Company Group or the SpinCo Group) or
whether asserted or determined prior to the date hereof, and regardless of whether arising from or alleged to arise from negligence, recklessness, violation of Law, fraud or misrepresentation by any member of the Company Group or the SpinCo Group,
or any of their respective Representatives, Subsidiaries or Affiliates, or by the respective Representatives of their Subsidiaries or Affiliates.

(b) Internal Restructuring. Without limiting any other provision hereof, at or prior to the Distribution Effective Time
(subject to , each of the Company and SpinCo has taken or will take, and has caused or will cause each member of its Group to take, such actions as are reasonably necessary to consummate or evidence the Internal
Restructuring.

(c) Transfer Documents. In furtherance of the contribution, assignment, transfer, conveyance and
delivery of and succession to the Assets, the acceptance and assumption of, performance, discharge and fulfillment of and succession to the Liabilities in accordance with , and the other components of the
Internal Restructuring, each Party shall execute and deliver, and shall cause the applicable members of its Group to execute and deliver, to the other Party, (i) such bills of sale, quitclaim deeds, stock powers, certificates of title,
assignments of contracts and other instruments of contribution, transfer, conveyance, assignment, delivery and succession as and to the extent necessary to evidence the contribution, transfer, convey