Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 180

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 180
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ements, provided that such agreements and instruments shall not include any agreements or instruments
pursuant to the terms of which SpinCo, and any such member of the SpinCo Group, will be released from its obligations thereunder in connection with the completion of the Separation (in which case such agreements and instruments shall be
“Company Assets”);

(d) SpinCo Leases;

(e) any guarantee, indemnity, representation, covenant, warranty or other Liability of either Party or any member of its Group
in respect of any other SpinCo Contract, any SpinCo Liability or the SpinCo Business;

(f) any interest rate, currency,
commodity or other swap, collar, cap or other hedging or similar agreements or arrangements related primarily to the SpinCo Business; and

(g) any contracts or agreements listed on , including the right to recover any amounts
under such contracts, agreements or settlements.

“” shall mean all entities (including corporations,
general or limited partnerships, trusts, joint ventures, unincorporated organizations, limited liability entities or other entities) designated by SpinCo that will be members of the SpinCo Group as of the Distribution Effective Time, including the
Transferred Entities.

“” shall have the meaning set forth in
.

“” shall mean (a) prior to the Distribution Effective
Time, SpinCo and each Person that will be a Subsidiary of SpinCo as of immediately after the Distribution Effective Time, including the Transferred Entities, even if, prior to the Distribution Effective Time, such Person is not a Subsidiary of
SpinCo; and (b) on and after the Distribution Effective Time, SpinCo and each Person that is a Subsidiary of SpinCo.

“” shall have the meaning set forth in the Employee Matters Agreement.

“” shall mean guarantees, letters of credit, surety bonds and similar credit support obligations of any
member of the Company Group for the benefit of any member of the SpinCo Group or the SpinCo Business, including those obligations set forth on .

“” shall have the meaning set forth in .

20

“” shall mean (a) the Patents set forth
on , (b) the Trademarks set forth on , (c) the Software IP for Software set forth on , (d) the Content IP for Content in the categories set
forth on , and (e) other than the Intellectual Property set forth on Schedules 1.4(a), 1.4(b), 1.4(c