Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 204

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 204
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 non-renewal to the counterparty
to such Shared Contract in accordance with the terms of such Shared Contract is expressly permitted) or (y) a partial termination of such Shared Contract that would not reasonably be expected to impact any rights or obligations under such
Shared Contract related to the Business of the other Party, or (iii) amend, modify or supplement such Shared Contract in a manner material and adverse to the Group of the other Party.

(c) Nothing in this shall require any member of either Group to make any non-de minimis payment (except to the extent advanced, assumed or agreed in advance to be reimbursed by any member of the other Group), incur any non-de minimis obligation or grant any non-de minimis concession for the benefit of any
member of the other Group in order to effect any transaction contemplated by this .

2.9 .

(a) Each Party shall take, or cause the members of its Group to take, at the Distribution
Effective Time (or such earlier time as the Parties may agree), all actions necessary to amend all contracts or agreements governing each bank and brokerage account owned by SpinCo or any other member of the SpinCo Group (collectively, the
“”) and all contracts or agreements governing each bank or brokerage account owned by the Company or any other member of the Company Group (collectively, the “”) so that each such
SpinCo Account and Company Account, if currently linked (whether by automatic withdrawal, automatic deposit or any other authorization to transfer funds from or to, hereinafter “”) to any Company Account or SpinCo Account,
respectively, is no longer Linked to such Company Account or SpinCo Account, respectively.

(b) With respect to any
outstanding checks issued or payments initiated by the Company, SpinCo or any of the members of their respective Groups prior to the Distribution Effective Time, such outstanding checks and payments shall be honored following the Distribution
Effective Time by the Person or Group owning the account on which the check is drawn or from which the payment was initiated, respectively.

39

(c) As between the Company and SpinCo (and the members of their respective
Groups), all payments made and reimbursements received after the Distribution Effective Time by either Party (or member of its Group) to the extent related to a business, Asset or Liability of the other Party (or member of its Group) shall be held
by such Party in trust for the use and benefit of the Party entitled thereto and, promptly following receipt by such Party of any such payment or reimbursement