Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 119

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 119
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) above; it being understood that in no event shall the Company be required to pay the Company Termination Fee on more than one occasion.

(b) . If this Agreement is terminated by (A) the Company or Buyer pursuant to
, and at the time of such termination, (1) one or more of the conditions set forth in or (in each case, solely as a
result of any Antitrust Law or Foreign Regulatory Law) has not been satisfied or waived and (2) all of the other conditions set forth in and have been satisfied or
waived (except for (i) those conditions that by their nature are to be satisfied at the Closing; that such conditions were then capable of being satisfied if the Closing had taken place and (ii) any condition that has not
been satisfied as a result of a breach by Buyer or Merger Sub of its representations, warranties, covenants or agreements contained in this Agreement) or (B) by the Company or Buyer pursuant to due
to any Antitrust Law or Foreign Regulatory Law, then Buyer shall pay to the Company, by wire transfer of immediately available funds to an account designated in writing by the Company, a fee of $ in cash (the “”), with such payment to be made (x) in the case of Buyer’s termination of this Agreement, prior to or concurrently with, and as a condition to, such termination, or (y) in the case of the
Company’s termination of this Agreement, within three Business Days of such termination; it being understood that in no event shall Buyer be required to pay the Regulatory Termination Fee on more than one occasion.

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(c) . Each Party acknowledges that the agreements contained in this
are an integral part of this Agreement and that, without , Buyer would not have entered into this Agreement and that, without , the
Company would not have entered into this Agreement. Accordingly, if the Company or Buyer fails to promptly pay any amount due pursuant to this , the Company or Buyer, as applicable, shall pay to Buyer or the
Company, respectively, all fees, costs and expenses of enforcement (including attorneys’ fees as well as expenses reasonably incurred in connection with any action initiated seeking such payment), together with interest on the amount of the
Company Termination Fee or the Regulatory Termination Fee, as applicable, at the prime lending rate as published in The Wall Street Journal, in effect on the date such payment is required to be made. Notwithstanding anything to the contrary
in this Agreement, the Parties