Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 301

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 301
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     |      | 10 |
| Section 4.01                                                                                    |     | Confidentiality.                                    |     |      | 10 |
| ARTICLE V TERM AND TERMINATION                                                                  |     |                                                     |     |      | 11 |
| Section 5.01                                                                                    |     | Term.                                               |     |      | 11 |
| ARTICLE VI REPRESENTATIONS AND WARRANTIES; DISCLAIMER; ASSUMPTION OF RISK; BANKRUPTCY ASSURANCE |     |                                                     |     |      | 11 |
| Section 6.01                                                                                    |     | Representations and Warranties.                     |     |      | 11 |
| Section 6.02                                                                                    |     | DISCLAIMER.                                         |     |      | 11 |
| Section 6.03                                                                                    |     | Bankruptcy Assurance.                               |     |      | 12 |
| ARTICLE VII MISCELLANEOUS PROVISIONS                                                            |     |                                                     |     |      | 12 |
| Section 7.01                                                                                    |     | Assignment of the Agreement.                        |     |      | 12 |
| Section 7.02                                                                                    |     | Assignment of Intellectual Property Rights.         |     |      | 12 |
| Section 7.03                                                                                    |     | Miscellaneous.                                      |     |      | 13 |

INTELLECTUAL PROPERTY MATTERS AGREEMENT

This INTELLECTUAL PROPERTY MATTERS AGREEMENT (this “”), dated as of [•] (the “”), is by and between [New Wonder], a Delaware corporation (the “”), and [Delight] Global Media, Inc., a Delaware corporation (“”). Each of the Company and SpinCo are referred to
herein as a “”, and together, as the “”.

WHEREAS, pursuant to that certain Separation
and Distribution Agreement, dated as of [•], by and between the Parties (the “”), the Parties have agreed to take certain actions for purposes of effecting a Separation of the SpinCo
Business from the Company Business, including allocating ownership of certain Intellectual Property and Software to either the SpinCo Business or the Company Business, as set forth in more detail therein (all capitalized terms used but not defined
herein shall have the meaning set forth in the Separation and Distribution Agreement); and

WHEREAS, in connection with the transactions
contemplated by the Separation and Distribution Agreement, the Parties desire to enter into this Agreement to address certain matters related to such Intellectual Property and Software;

NOW, THEREFORE