Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 270

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 270
---
 shall have the meaning ascribed to it in the Separation Agreement.

“” means the unitized stock fund investment option offered or to be offered under the SpinCo U.S.
Savings Plan, with a value based on the value of SpinCo Shares and the cash liquidity component held thereunder.

“” means the quotient obtained by dividing () the Pre-Spin Company Stock Value, by () the Post-Spin SpinCo Stock Value.

“” shall have the meaning set forth in .

“” shall have the meaning set forth in .

“” shall have the meaning set forth in .

“” means a Company Equity Award assumed and adjusted by SpinCo in accordance with
or .

“” shall have the
meaning set forth in .

“” shall have the
meaning set forth in .

“” shall have the meaning ascribed to it in
the Separation Agreement.

“” means, as of any applicable time from and after the Distribution
Effective Time, () a current employee of a SpinCo Group Member (including any such employee who is an Inactive Employee and excluding any non-payroll workers), () any individual who,
although deemed to be an employee of the Company Group under Transfer Regulations due to such individual’s rendering of services to the Company Group pursuant to the Transition Services Agreement or otherwise, is designated by the Parties to
be a SpinCo Group Employee or () a Seconded SpinCo Group Employee.

“” shall mean a
member of the SpinCo Group (including SpinCo).

“” shall have the
meaning set forth in .

“t” means any agreement with any
Employee Representative Body to which a member of the Group is a party or bound by and that primarily pertains to SpinCo Group Employees.

“” means each Benefit Plan Separately identified on
to this Agreement as a SpinCo Retained Non-Qualified Plan and a SpinCo Splitting Non-Qualified Plan.

“” means an option to purchase SpinCo Shares that is granted under a SpinCo Equity Plan pursuant to
.

“” means any individual who is a SpinCo Group Employee, a Former SpinCo
Group Employee or a beneficiary, dependent or alternate payee of any of the foregoing.

-8-

“” means any Benefit Plan sponsored or maintained by SpinCo or
any SpinCo Group Member.

“” means each
Benefit Plan separately identified on to this Agreement as a SpinCo Retained Non-Qualified Plan.

“” means each Benefit Plan separately identified on
to this Agreement as a SpinCo Retained