Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 223

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 223
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any Company Policy (other than any self-insurance or fronted insurance) (the “”) with respect to any claim, basis for claim, act, omission, circumstance, fact, occurrence, event, or loss that occurred or
existed prior to the Distribution Effective Time that relates to the SpinCo Business, the SpinCo Assets or the SpinCo Liabilities and which would be covered under any such Accessible Company Policy (each of the foregoing, a “”), (ii) terminate, buy back or cancel any such Accessible Company Policy or (iii) amend or modify any Accessible Company Policy (or fail to timely make any required
payment under, or take any similar action that would reasonably be expected to result in the termination of, any such policy), in each case of clauses (ii) and (iii), in any manner that would reasonably be expected to materially and adversely
impact the availability of recoverable proceeds under any such Accessible Company Policy with respect to any Pre-Distribution Effective Time Events.

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(b) From and after the Distribution Effective Time, with respect to any
Liability incurred by any member of the SpinCo Group prior to the Distribution Effective Time, the Company will provide SpinCo with access to, and SpinCo may, upon prior written notice to the Company in accordance with procedures to be mutually
agreed upon and documented by the Parties from time to time (which documented procedures shall be binding upon the Parties), make claims under, Accessible Company Policies, but solely to the extent that such Accessible Company Policies provided
coverage for members of the SpinCo Group prior to the Distribution Effective Time; , that such access to, and the right to make claims under, such Accessible Company Policies shall be subject to the terms and conditions of such
Accessible Company Policies, including any limits on coverage or scope, any deductibles or retentions and other fees and expenses, and shall be subject to the following additional conditions:

(i) SpinCo shall provide written notification to the Company of any request for the Company to pursue a claim on behalf of the
applicable member of the SpinCo Group pursuant to this , and the Company shall use commercially reasonable efforts to pursue such claim, at SpinCo’s sole cost and expense (to the extent not otherwise
covered by such Insurance Policies then in effect prior to the Distribution Effective Time), as promptly as is reasonably practicable;

(ii) SpinCo and the other members of the SpinCo Group shall indemnify, hold harmless and reimburse the Company and the other
members of