Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 347

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 347
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 Group.

Section 3.07 .

(a) Tax Attributes arising in a Pre-Distribution Period shall be allocated to (and the benefits and
burdens of such Tax Attributes shall inure to) the members of the Company Group and the members of the SpinCo Group as determined in good faith by the Company in accordance with the Code, Treasury Regulations, and any other applicable state, local
or foreign Tax Law.

(b) Following the close of the taxable year in which the Distribution occurs, and as promptly as practicable after
the relevant information or documentation becomes available to the Company, the Company shall deliver to SpinCo in writing for SpinCo’s review the Company’s good faith determination of the portion, if any, of any earnings and profits,
Tax Attributes, overall foreign loss or other affiliated, consolidated, combined, unitary, fiscal unity or other similar group Tax Attribute which is allocated or apportioned to the members of the SpinCo Group under applicable Tax Law and this
Agreement (the “”). SpinCo shall have sixty (60) Business Days from its receipt of the Proposed Allocation to review and provide the Company any comments with respect thereto. The Company shall consider in
good faith any comments received from SpinCo within such sixty (60) day period and shall provide to SpinCo a final allocation following the conclusion of such sixty (60) day period (the “”). The Company
shall (and shall cause the other members of the Company Group to) and SpinCo shall (and shall cause the other members of the SpinCo Group to)

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prepare all Tax Returns in accordance the Final Allocation. In the event of any adjustment to the earnings and profits, any Tax Attributes, overall foreign loss or other affiliated, consolidated,
combined, unitary, fiscal unity or other similar group Tax Attribute, the Company shall promptly notify SpinCo in writing of such adjustment.

(c) Except as otherwise provided herein, to the extent that the amount of any Tax Attribute is later reduced or increased as a result of a Tax
Contest, such reduction or increase shall be allocated to the Party to which such Tax Attribute was allocated pursuant to and , and the Company shall notify SpinCo of any such reduction or
increase.

(d) Notwithstanding anything in this Agreement to the contrary, SpinCo shall be allocated the value of any Surrendered UK
Losses that are surrendered by a member of the SpinCo Group, and the Company shall be allocated the value of any Surrendered UK Losses that are surrendered by a member of the