Company: WBD
Filing Date: 2025-02-27
Form Type: S-3ASR
Source: 0001193125-25-039203
Chunk: 50

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-02-27
Form: S-3ASR
Chunk 50
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| • |     | in the over-the-counter market; |

| • |     | in transactions otherwise than on the Nasdaq Stock Market LLC or in the over-the-counter market; or |

| • |     | any combination of the foregoing. |

Each prospectus supplement will describe the method of distribution of the securities and any applicable restrictions. The prospectus supplement with respect to the securities of a particular series will describe the terms of the offering of the securities, including the following:

| • |     | the name of the agent, dealer or any underwriters and the amounts of securities underwritten or purchased by each 
 of them;                                                                                                          |

| • |     | the public offering or purchase price and the proceeds we will receive from the sale of the securities; |

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| • |     | any discounts, concessions and commissions to be allowed or re-allowed or 
 paid to the agent, dealer or underwriters;                                |

| • |     | all other items constituting underwriting compensation; |

| • |     | any discounts, concessions and commissions to be allowed or re-allowed or 
 paid to dealers; and                                                      |

| • |     | any exchanges on which the securities will be listed. |

Any discounts, concessions or commissions as to any particular underwriter, broker-dealer or agent may be in excess of those customary in the types of transactions involved. If any underwriters or agents are utilized in the sale of the securities in respect of which this prospectus is delivered, we will enter into an underwriting agreement or other agreement with them at the time of sale to them, and we will set forth in the prospectus supplement relating to such offering the names of the underwriters or agents and the terms of the related agreement with them. If a dealer is utilized in the sale of the securities in respect of which this prospectus is delivered, we will sell such securities to the dealer, as principal. The dealer may then resell such securities to the public at varying prices to be determined by such dealer at the time of resale. Any underwriters, broker-dealers or agents that participate in the sale of the securities may be deemed to be “underwriters” within the meaning of Section 2(a)(11) of the Securities Act. If we offer securities in a subscription rights offering to our existing security holders, we may enter into a standby underwriting agreement with dealers, acting as standby underwriters. We may pay the standby underwriters a commitment fee for the securities they commit to purchase on a