Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 147

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 147
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ity-based, incentive compensation, profit sharing, savings, retirement, disability, vacation, deferred compensation, severance, separation, termination, retention, change of control, stay bonus and other
similar material plan, program, agreement or arrangement that is maintained or contributed to by any Post-Separation Retained Entity or with respect to which any Post-Separation Retained Entity would reasonably be expected to have any liability,
other than any such plan, scheme or arrangement (i) that is sponsored or maintained by, or provided through, a Governmental Entity or Labor Union, (ii) that any Post-Separation Retained Entity is required by Law to maintain or contribute
to or (iii) any Multiemployer Plan.

“” means the Sarbanes-Oxley Act of 2002.

“” means the U.S. Securities and Exchange Commission.

“” means the Securities Act of 1933, as amended.

“” means (a) with respect to the Post-Separation Retained Entities, any of the executive officers (as
such term is defined in the Exchange Act) of the Post-Separation Retained Entities and, (b) with respect to Buyer, any of Buyer’s executive officers (as such term is defined in the Exchange Act).

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

“” means the Separation and the Distribution, collectively.

“” means the “Specified Ancillary Agreements” as defined in the Separation and
Distribution Agreement, together with all annexes, exhibits, schedules, attachments and appendices thereto.

“” means the “Specified Amount Reduction” as defined in the Separation and Distribution Agreement.

“” has the meaning given to such term in the Separation and Distribution Agreement.

“” means any individual who holds a Company Equity Award who is a (i) SpinCo Group Employee,
(ii) a Former SpinCo Group Employee or (iii) Other SpinCo Service Provider (in each case of (i), (ii) and (iii), as defined in the Employee Matters Agreement).

“” has the meaning given to such term in the Separation and Distribution Agreement.

“” means each member of the Spinco Group.

Annex A-15

“” has the meaning given to such term in the Separation and
Distribution Agreement.

“” means 16.22%.

“” means, with respect to any Person, any other Person (i) of which at least a majority of the securities or