Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 181

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 181
---
) and 1.4(d), with respect to all other Intellectual Property owned by either Party or any member of its Group as of the
Distribution Effective Time, all such Intellectual Property that is primarily used or primarily held for use in the SpinCo Business.

“” shall mean any and all Information Technology owned or leased by or licensed to either Party or any
member of its Group as of the Distribution Effective Time that is primarily used or held for use in the SpinCo Business.

“” shall have the meaning set forth in the definition of SpinCo Real Property.

“”
shall have the meaning set forth in .

“” shall mean all Permits
owned or licensed by either Party or any member of its Group (x) listed or described on or (y) other than the Permits set forth on , primarily used or primarily held for use in the SpinCo
Business as of the Distribution Effective Time.

“” shall mean those Insurance Policies in effect at the
Distribution Effective Time (a) where the first or primary named insured is a member of the SpinCo Group, (b) that do not provide coverage for any member of the Company Group and (c) that are not the Company Policies. A partial
listing of such Insurance Policies, not intended to be comprehensive and for illustration only, is set forth on .

“” shall have the meaning set forth in .

“” shall mean (a) all of the Real Property owned by either Party or member of its Group as of
immediately prior to the Distribution Effective Time (x) listed or described on or (y) other than the Real Property set forth on , primarily used or primarily held for use in the SpinCo
Business as of the Distribution Effective Time, (b) the Real Property Leases to which either Party or member of its Group is party as of immediately prior to the Distribution Effective Time (x) set forth on or
(y) other than the Real Property Leases set forth on , primarily used or primarily held for use in the SpinCo Business as of the Distribution Effective Time (“”) and (c) all recorded
Real Property notices, easements and obligations with respect to the Real Property and/or Real Property Leases described in clauses (a) and (b) of this paragraph.

“” shall mean the shares of common stock, par value $0.01 per share, of SpinCo.

“” shall have the meaning set forth in .

“” shall have the meaning set forth in .

21

“” shall mean, with respect