Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 344

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 344
---
, warranty or
covenant of any member of the Company Group in any Company Tax Representation Letter or in this Agreement to be untrue in any material respect.

Section 6.04 . If SpinCo notifies the Company that it desires to take one of the
actions described in ) or (a “”), the Company shall (subject to the proviso set forth in ) cooperate with SpinCo in good faith
to seek to obtain an Unqualified Tax Opinion or, at the Company’s discretion, an IRS Ruling for the purpose of permitting SpinCo to take the Notified Action unless the Company shall have waived in writing the requirement to obtain such
Unqualified Tax Opinion or IRS Ruling. If the Company determines in its discretion to seek an IRS Ruling, the Company shall have sole and exclusive control over the process of obtaining an IRS Ruling.

Section 6.05 Notwithstanding any other provision of this Agreement, the
obligations of SpinCo, the SpinCo Group and the SpinCo SAG described in ) and the restrictions described in ) (other than restrictions relating to any of the actions
specified in ) and shall terminate, and shall not be of any further force or effect, upon the consummation of the Merger.

Section 7. .

Section 7.01 .

(a) Without limiting any of the Parties’ obligations under the Merger Agreement, the Separation Agreement or any Ancillary Agreement,
the Parties shall reasonably cooperate and assist (and cause their respective Affiliates to reasonably cooperate) each other, in connection with Tax matters relating to the Parties and their Affiliates including, among other things,
(i) preparation and filing of Tax Returns, (ii) Tax Contests, (iii) determining the amount of any Tax liabilities owed under this Agreement, (iv) obtaining a Tax Opinion or, at the Company’s discretion, an IRS Ruling with
respect to the Distribution or any subsequent transactions (including, without limitation, by providing appropriate representations regarding discussions and negotiations prior to the Distribution with potential acquisition candidates that may be
relevant under Treasury Regulations Section 1.355-7), (v) determining the size of acquisitions as such term is used in 355(e) of the Code, in connection with the transactions contemplated by the
Separation Agreement or the Merger Agreement, (vi)

29

the monetization of Production Incentives, (vii) reporting or compliance matters relating to the Pillar Two Provisions and any related country-by-country reporting or payment obligations (including mitigation