Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 198

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 198
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 the submission. Judgment may be entered upon the determination of the Accountant in
any court having jurisdiction over the party against which such determination is to be enforced. The fees and expenses of the Accountant pursuant to this shall be equally shared by the Company and SpinCo. Other
than the fees and expenses referred to in the immediately preceding sentence, the fees and disbursements of SpinCo’s independent auditors, attorneys and other consultants shall be borne by SpinCo and the fees and disbursements of the
Company’s independent auditors, attorneys and other consultants shall be borne by the Company.

(c) (i) If the amount
of the Net Debt as of the Distribution Effective Time in the final Statement:

(A) is greater than the Specified Amount,
the Company shall pay to SpinCo the amount of such difference, or

(B) is less than the Specified Amount, SpinCo shall pay
to the Company the amount of such difference.

(ii) Any payment made pursuant to this
shall be made by wire transfer in immediately available funds to one or more accounts designated in writing at least two (2) Business Days prior to such payment by the party entitled to receive such
payment.

(d) During the period of time from and after the Distribution Date through the resolution of any payment
contemplated by , each of the Company and SpinCo shall afford to each other and their respective accountants and counsel in connection with any actions contemplated by this
reasonable access during normal business hours to all the properties, personnel and records of such other party relevant to the Statement, the Notice of Disagreement and any payments contemplated by this
.

44

2.17 Restructuring Plan. Prior to the Distribution Effective Time, the Restructuring Plan may be amended, modified or supplemented by the Company; provided, that (i) prior to making any non- de minimisamendment, modification or supplement, the Company shall notify Buyer in writing and (ii) prior to making any such amendment, modification or supplement that would materially adversely affect Buyer, its Affiliates or the Company Group (taking into account both positive and negative effects of all prior and proposed amendments, modifications or supplements, in the aggregate), the Company shall also obtain Buyer’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed); provided, further, that if Buyer reasonably withholds such consent in accordance with the preceding proviso, Buyer shall promptly cooperate with the Company in good faith and use commercially reasonable efforts to determine whether there is