Company: WBD
Filing Date: 2025-02-27
Form Type: S-3ASR
Source: 0001193125-25-039203
Chunk: 44

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-02-27
Form: S-3ASR
Chunk 44
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 unsecured or prefunded on some basis. The purchase contracts may require holders to secure their obligations thereunder in a specified manner. In certain
circumstances, we may deliver newly issued prepaid purchase contracts upon release to a holder of any collateral securing the holder’s obligations under the original purchase contract.

The applicable prospectus supplement will describe the terms of the purchase contracts. The description in the prospectus supplement will only
be a summary, and you should read the purchase contracts, and, if applicable, collateral or depositary arrangements, relating to the purchase contracts. Material United States federal income tax considerations applicable to the purchase contracts
will also be discussed in the applicable prospectus supplement.

Unless otherwise specified in an accompanying prospectus supplement, each
purchase contract and any related agreement will be governed by, and construed in accordance with, the laws of the State of New York.

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DESCRIPTION OF WARRANTS WBD may issue warrants to purchase shares of preferred stock, depositary shares or shares of common stock. WBD, WMH, DCL or Scripps may issue warrants to purchase debt securities. We may offer warrants separately or together with one or more additional warrants, debt securities, shares of preferred stock, depositary shares or shares of common stock, or any combination of those securities in the form of units, as described in the applicable prospectus supplement. If we issue warrants as part of a unit, the accompanying prospectus supplement will specify whether those warrants may be separated from the other securities in the unit prior to the expiration date of the warrants. The applicable prospectus supplement will also describe the following terms of any warrants:

| • |     | the specific designation and aggregate number of, and the offering price at which the warrants will be issued; |

| • |     | the currency or currency units in which the offering price, if any, and the exercise price are payable; |

| • |     | the date on which the right to exercise the warrants will begin and the date on which that right will expire or,                             
 if you may not continuously exercise the warrants throughout that period, the specific date or dates on which you may exercise the warrants; |

| • |     | whether the warrants are to be sold separately or with other securities as parts of units; |

| • |     | whether the warrants will be issued in definitive or global form or in any combination of these forms, although,                         
 in any case, the form of a warrant included in a unit will correspond to the form of the unit and of any security included in