Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 279

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 279
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qualify such plan under the applicable provisions of the Code and () make any and all filings and submissions to the appropriate Governmental Entities required to be made by it in connection with the transfer of Assets described
below.

(c) Transfer of Account Balances. As soon as practicable (but no later than ninety (90) days) following the earlier of
the delivery to the Company of a favorable determination or opinion letter from the IRS regarding the qualified status of the SpinCo U.S. Savings Plan (as amended to the date of transfer), or the issuance of indemnities satisfactory to the Company
and SpinCo, the Company shall cause the trustee of the Company U.S. Savings Plan to transfer in the form of cash or in-kind (including

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promissory notes representing outstanding loans of the SpinCo Participants) the full account balances of the SpinCo Participants under the Company U.S. Savings Plan (which account balances will
have been adjusted to reflect appropriate earnings and/or losses attributable to the period from the Distribution Date to the date of transfer described herein), reduced by any necessary benefit or withdrawal payments to or in respect of SpinCo
Participants occurring during the period from the Distribution Date to the date of transfer described herein, to the appropriate trustee as designated by SpinCo or the applicable members of the SpinCo Group under the trust agreement forming a part
of the SpinCo U.S. Savings Plan; , , that such transferred amounts shall only be transferred in accordance with Section 414(l) of the Code and all other applicable Laws. In consideration for the transfer of Assets
described herein, SpinCo shall, or shall cause to the applicable members of the SpinCo Group, effective as of the date of transfer described herein, to assume all of the obligations of the Company or Company U.S. Savings Plan in respect of the
account balances accumulated by SpinCo Participants under the Company U.S. Savings Plan (exclusive of any portion of such account balances which are paid or otherwise withdrawn prior to the date of transfer described herein) on or prior to the
Distribution Date.

(d) Stock Fund Treatment.

(i) The Company U.S. Savings Plan will provide, effective no later than the Distribution Effective Time: () for the
establishment of a SpinCo Common Stock Fund; () that such SpinCo Common Stock Fund shall receive a transfer of and hold all SpinCo Shares distributed in connection with the Distribution (as defined in the Separation Agreement) in
respect of Company Shares held in the Company Common Stock Fund under the Company U