Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 168

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 168
---
 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) and 1.4(d), with respect to all other Intellectual Property owned by either Party or any member of its Group as of the
Distribution Effective Time, all such Intellectual Property that is primarily used or primarily held for use in the SpinCo Business.

“” shall mean any and all Information Technology owned or leased by or licensed to either Party or any
member of its Group as of the Distribution Effective Time that is primarily used or held for use in the SpinCo Business.

“” shall have the meaning set forth in the definition of SpinCo Real Property.

“”
shall have the meaning set forth in .

“” shall mean all Permits
owned or licensed by either Party or any member of its Group (x) listed or described on or (y) other than the Permits set forth on , primarily used or primarily held for use in the SpinCo
Business as of the Distribution Effective Time.

“” shall mean those Insurance Policies in effect at the
Distribution Effective Time (a) where the first or primary named insured is a member of the SpinCo Group, (b) that do not provide coverage for any member of the Company Group and (c) that are not the Company Policies. A partial
listing of such Insurance Policies, not intended to be comprehensive and for illustration only, is set forth on .

“