Company: WBD
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001437107-25-000084
Chunk: 173

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 173
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     | Additional  
 Information |     | Appendices |

#### AMENDMENT NO. 2

#### TO

#### WARNER BROS. DISCOVERY, INC.

#### 2011 EMPLOYEE STOCK PURCHASE PLAN
This Amendment No. 2 (this “ Amendment ”) to the Warner Bros. Discovery, Inc. 2011 Employee Stock Purchase Plan (the “ Plan ”), is effective as of June 2, 2025, by action of the Board of Directors (the “ Board ”) of Warner Bros. Discovery, Inc., a Delaware corporation (the “ Company ”).

1. The first paragraph of the Plan is amended by deleting the second sentence of the first paragraph in its entirety and replacing it with the following new sentence: “The maximum number of shares of Common Stock available for purchase under the Plan on or after June 2, 2025 is 27,568,638, subject to any adjustment under Section 15 hereof, as determined by the Compensation Committee (the “ Committee ”) of the Company's Board of Directors (the “ Board ”) or the Board.”

2. Except as expressly amended hereby, the remaining provisions of the Plan shall continue in full force and effect, without any waiver, amendment or modification of any provision thereof.

I hereby certify that the foregoing Amendment was duly adopted by the Board on March 31, 2025 and approved by the stockholders of the Company at a meeting held on June 2, 2025.

Dated: June 2, 2025

WARNER BROS. DISCOVERY, INC.

By: ___________________

Name: Tara L. Smith

Title: Executive Vice President and Corporate Secretary

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| Proxy Statement 
 Summary         |     | Election of Directors |     | Corporate  
 Governance |     | Audit   
 Matters |     | Executive    
 Compensation |     | Other   
 Matters |     | Additional  
 Information |     | Appendices |

#### Appendix D

### Non-GAAP Financial Measures
In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), this proxy statement also contains non-GAAP financial measures, such as Adjusted EBITDA, Free Cash Flow (FCF) and Net leverage, identified with an "(*)".

Management uses certain non-GAAP financial measures, such as Adjusted EBITDA, Free Cash Flow (FCF) and Net leverage, among other measures, in making financial, operating and planning decisions and in evaluating our performance. Please see the