Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 336

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 336
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 member of the SpinCo Group and that does not include any member of the Company Group.

“” has the meaning set forth in the Separation Agreement.

“” means (i) any breach or non-performance by SpinCo of any
of its covenants set forth in (regardless of whether an Unqualified Tax Opinion, IRS Ruling or waiver described in clause (A), (B) or (C) of or may
have been provided) or any breach by SpinCo of any of its representations in

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, (ii) a SpinCo Section 355(e) Event or (iii) any acquisition, after the Distribution Effective Time, of all or a portion of the Capital Stock
and/or assets of SpinCo and/or any of its Subsidiaries by any means whatsoever by any Person, that, for the avoidance of doubt, any actions required to be taken by SpinCo or any member of the SpinCo Group under the Separation
Agreement, the Merger Agreement or any Ancillary Agreement shall not be treated as a SpinCo Tainting Act.

“” means the representation letters of officers of SpinCo delivered by, or on behalf of, SpinCo to a Tax Advisor in connection with the issuance by such Tax Advisor of a Tax Opinion in connection with the Transactions
or the Specified U.S. Internal Restructuring Transactions.

“” means any Tax Period that begins on or
before and ends after the Distribution Date.

“” has the meaning set forth in the Separation Agreement.

“” means any Tax Attribute arising as a result of the surrender of taxable losses in the United
Kingdom with respect to any Pre-Distribution Period for which the Company was unable to file group relief claims with respect to the SpinCo Group.

“” or “” means any income, gross income, gross receipts, profits, capital stock, franchise,
withholding, payroll, social security, workers compensation, unemployment, disability, property, ad valorem, value added, stamp, excise, severance, occupation, service, digital services, environmental, sales, consumption, turnover, goods and
services, use, license, lease, transfer, import, export, customs duty, escheat, alternative minimum, estimated or other tax (including any fee, assessment, or other charge in the nature of or in lieu of any tax), imposed by any Governmental Entity
or political subdivision thereof, and any interest, penalty, additions to tax or additional amounts in respect of the foregoing.

“”