Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 350

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 350
---
 (iii) any Company Separate Returns, (iv) any Separation Taxes and (v) any
Transfer Taxes. SpinCo shall have the right to control any Tax Contest with respect to Tax matters relating to (i) SpinCo Combined Returns that relate solely to a Post-Distribution Period and (ii) any SpinCo Separate Returns, other than
any Tax Contest which the Company controls under this Section 9.02. Except as provided in , the Controlling Party shall have the exclusive right, in its sole discretion and at its expense, to control,
contest, and represent the interests of each member of the Company Group and/or the SpinCo Group, as applicable, in any Tax Contest relating to such Tax Return and to resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted
or assessed in connection with or as a result of any such Tax Contest. Except as otherwise provided in , the Controlling Party’s rights shall extend to any matter pertaining to the management and
control of a Tax Contest, including execution of waivers, choice of forum, scheduling of conferences and the resolution of any Tax Item.

(b) . With respect to a Tax Contest that relates to
any Taxes for which the Non-Controlling Party may be liable pursuant to this Agreement, (i) the Non-Controlling Party shall be entitled to participate in such Tax
Contest at its expense, insofar as the liabilities of the Non-Controlling Party are concerned, (ii) the Controlling Party shall keep the Non-Controlling Party
updated and informed, and shall consult with the Non-Controlling Party, insofar as the liabilities of the Non-Controlling Party are concerned, (iii) the Controlling
Party shall act in good faith with a view to the merits in connection with such Tax Contest, and (iv) the Controlling Party shall not settle or compromise such Tax Contest if the Non-Controlling Party
would be liable pursuant to this Agreement without the Non-Controlling Party’s prior written consent, which consent shall not be unreasonably withheld or delayed.

(c) . In the case of any Tax Contest for any SpinCo Combined Return that includes Taxes that relate to
both a Pre-Distribution Period and Post-Distribution Period, the Parties shall use their reasonable efforts to cause such Tax Contest to be severed into separate Tax Contests, each relating solely to a Pre-Distribution Period and Post-Distribution Period, as applicable. If such Tax Contest is not so severable, then the Parties shall