Company: WBD
Filing Date: 2025-02-27
Form Type: S-3ASR
Source: 0001193125-25-039203
Chunk: 46

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-02-27
Form: S-3ASR
Chunk 46
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 and 
 under what circumstances the securities comprising the units may be traded separately;                         |

| • |     | the identity of any unit agent for the units, if applicable, and of any other depositaries, execution or paying 
 agents, transfer agents, registrars or other agents;                                                            |

| • |     | any additional terms of the governing unit agreement, if applicable; |

| • |     | any additional provisions for the issuance, payment, settlement, transfer or exchange of the units or of the debt        
 securities, shares of common stock, shares of preferred stock, purchase contracts or warrants constituting the unit; and |

| • |     | any applicable material U.S. federal income tax consequences. |

34

FORMS OF SECURITIES

Each debt security, depositary share, purchase contract, unit and warrant will be represented either by a certificate issued in definitive
form to a particular investor or by one or more global securities representing the entire issuance of securities. Unless the applicable prospectus supplement provides otherwise, certificated securities in definitive form and global securities will
be issued in registered form. Definitive securities name you or your nominee as the owner of the security, and in order to transfer or exchange these securities or to receive payments other than interest or other interim payments, you or your
nominee must physically deliver the securities to the trustee, registrar, paying agent or other agent, as applicable. Global securities name a depositary or its nominee as the owner of the debt securities, depositary shares, purchase contracts,
units or warrants represented by these global securities. The depositary maintains a computerized system that will reflect each investor’s beneficial ownership of the securities through an account maintained by the investor with its
broker/dealer, bank, trust company or other representative, as we explain more fully below.

Registered Global Securities

WBD may issue registered debt securities, depositary shares, purchase contracts, units and warrants, and WMH, DCL and Scripps may issue
registered debt securities, purchase contracts, units and warrants, in the form of one or more fully registered global securities that will be deposited with a depositary or its nominee identified in the applicable prospectus supplement and
registered in the name of that depositary or nominee. In those cases, one or more registered global securities will be issued in a denomination or aggregate denominations equal to the portion of the aggregate principal or face amount of the
securities to be represented by registered global securities. Unless and until it is exchanged in whole for securities in definitive