Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 128

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 128
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) The Company shall have performed in all material respects all obligations and complied in all material respects with all covenants
required by this Agreement to be performed or complied with by it prior to the Closing.

(c) Since the date of this Agreement, there shall
not have occurred any Company Material Adverse Effect.

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(d) The Company shall have delivered to Buyer a certificate, dated as of the Closing Date
and signed by its Chief Executive Officer or another senior officer, certifying to the effect that the conditions set forth in , and
have been satisfied.

Section 7.4 . No Party may
rely, either as a basis for not consummating the Merger or terminating this Agreement and abandoning the Merger, on the failure of any condition set forth in , or , as the case may be, to
be satisfied if such failure was caused by such Party’s material breach of any covenant or agreement of this Agreement.

ARTICLE VIII

TERMINATION

Section 8.1 . This Agreement may be terminated and abandoned prior to the Effective Time, whether
before or after any approval by the stockholders of the Company of the matters presented in connection with the Merger:

(a) by the mutual
written consent of the Company and Buyer;

(b) by either the Company or Buyer, if:

(i) the Effective Time shall not have occurred on or before March 4, 2027, or such other date agreed in writing by Buyer and the Company
(any such date, the “”); , , that (A) if, on March 4, 2027, any of the conditions set forth in or
(solely in connection with an Antitrust Law or Foreign Regulatory Law) has not been satisfied or waived, then the End Date shall be automatically extended, without any further action on the part of any Party hereto, to June 4, 2027, (B) if, on
June 4, 2027, any of the conditions set forth in or (solely in connection with an Antitrust Law or Foreign Regulatory Law) has not been satisfied or waived, then
the End Date shall be automatically extended, without any further action on the part of any Party hereto, to September 4, 2027 and (C) if all the conditions set forth in are satisfied or waived (other than those
conditions that by their terms are to be fulfilled at the Closing, but subject to the fulfillment or waiver of such conditions) prior to