Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 208

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 208
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 and their respective
heirs, executors, administrators, successors and assigns, in each case from (A) all Company Liabilities, (B) subject to , all Liabilities arising from or in connection with the transactions
contemplated by this Agreement and the Ancillary Agreements and all other activities to implement the Separation and the Distribution and (C) all Liabilities arising from or in connection with actions, inactions, events, omissions, conditions,
facts or circumstances occurring or existing prior to the Distribution Effective Time (whether or not such Liabilities cease being contingent, mature, become known, are asserted or foreseen, or accrue, in each case before, at or after the
Distribution Effective Time), in each case to the extent relating to, arising out of or resulting from the Company Business, the Company Assets or the Company Liabilities.

(c) Obligations Not Affected. Nothing contained in or shall
impair any right of any Person to enforce this Agreement or any Ancillary Agreement, or any agreements, arrangements, commitments or understandings that are specified in or the applicable Schedules thereto as
not to terminate as of the Distribution Effective Time, in each case in accordance with their respective terms. Nothing contained in or shall release any Person from:

(i) any Liability provided in or resulting from any agreement among any members of the Company Group or the SpinCo Group that
is specified in or the applicable Schedules thereto as not to terminate as of the Distribution Effective Time, or any other Liability which provides shall not
terminate as of the Distribution Effective Time;

(ii) any Liability, contingent or otherwise, assumed, transferred,
assigned or allocated to the Group of which such Person is a member in accordance with, or any other Liability of any member of any Group under, this Agreement or any Ancillary Agreement;

52

(iii) any Liability for the sale, lease, construction or receipt of goods,
property or services purchased, obtained or used in the ordinary course of business by a member of one Group from a member of the other Group prior to the Distribution Effective Time;

(iv) any Liability that the Parties may have with respect to indemnification or contribution pursuant to this Agreement, any
Ancillary Agreement or otherwise for claims brought against the Parties by Third Parties, which Liability shall be governed by the provisions of this and and, if applicable, the appropriate provisions of the
Ancillary Agreements; or

(v) any Liability the release of which would result in the release of any Person other than a