Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 207

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 207
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 Transferred Entity, and who are not, as of immediately following the
Distribution Effective Time, directors, officers or employees of SpinCo or a member of the SpinCo Group, and their respective heirs, executors, administrators, successors and assigns, in each case from: (A) all SpinCo Liabilities,
(B) subject to and , 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 SpinCo Business, the SpinCo Assets or the SpinCo Liabilities.

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(b) Company Release of SpinCo. Except as provided in
, effective as of the Distribution Effective Time, the Company does hereby, for itself and each other member of the Company Group and their respective successors and assigns, and, to the extent permitted by
Law, all Persons who at any time prior to the Distribution Effective Time have been stockholders, directors, officers, agents or employees of any member of the Company Group (in each case, in their respective capacities as such), remise, release and
forever discharge (i) SpinCo and the members of the SpinCo Group, and their respective successors and assigns, (ii) all Persons who at any time prior to the Distribution Effective Time have been directors, officers, agents or employees of
any member of the SpinCo Group (in each case, in their respective capacities as such) and who are not, as of immediately following the Distribution Effective Time, directors, officers or employees of the Company or a member of the Company Group, and
their respective heirs, executors, administrators, successors and assigns, and (iii) all Persons who at any time prior to the Distribution Effective Time are or have been stockholders, directors, officers, agents or employees of a member of the
Company Group (in each case, in their respective capacities as such) and who are not, as of immediately following the Distribution Effective Time, directors, officers or employees of the Company or a member of the Company Group,