Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 341

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 341
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 “Aggregate Deemed Asset Disposition Price” and the
“Adjusted Grossed-Up Basis” (each as defined under applicable Treasury Regulations) and the allocation of such Aggregate Deemed Asset Disposition Price and Adjusted
Grossed-Up Basis among the SpinCo Assets in accordance with the applicable provisions of Section 336(e) of the Code and applicable Treasury Regulations (the “”). SpinCo shall deliver an initial draft of such Section 336(e) Allocation Statement, together with supporting workpapers, to the Company no later than one hundred twenty (120) days after the Distribution
Effective Time for the Company’s review and comment. The Company shall have sixty (60) days from its receipt of such draft to review and provide SpinCo any comments with respect thereto. SpinCo and the Company shall cooperate in good
faith to resolve any disputes relating to the Section 336(e) Allocation Statement. If SpinCo and the Company are unable to resolve any such dispute through good faith negotiations, the disputed matters shall be resolved in accordance with
.

(b) If the Merger is consummated, the Company and SpinCo shall file all Tax Returns (including but
not limited to IRS Form 8883 and any supplemental or amended IRS Form 8883, if applicable) consistent with the final Section 336(e) Allocation Statement unless, and then only to the extent, otherwise required pursuant to a Final Determination.

16

Section 2.08 . Each Party shall be liable for and shall pay the
Taxes allocated to it by this either to the applicable Tax Authority or to the other Party in accordance with and the other applicable provisions of this Agreement.
Notwithstanding anything in this Agreement to the contrary, a Party shall not be entitled to seek reimbursement or indemnification from the other Party for any value added or similar Taxes paid or incurred by it to the extent such Taxes are
recoverable under applicable Law.

Section 3. . Except as otherwise provided in this
, Tax Returns shall be prepared and filed when due (taking into account extensions) by the Person required to file such Tax Returns under the Code or applicable Tax Law.

Section 3.01 .

(a) The Company shall timely prepare and file, or cause to be timely prepared and filed, all Combined Returns for any Tax Period, and each
member of the SpinCo Group to which any such Combined Return relates shall execute and file such consents, elections and other documents as the Company may reasonably determine are required or appropriate in connection with the filing of such
Combined Return