Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 325

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 325
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 U.S. Internal Restructuring Transactions.

“” means any Tax Period that begins on or
before and ends after the Distribution Date.

“” has the meaning set forth in the Separation Agreement.

“” means any Tax Attribute arising as a result of the surrender of taxable losses in the United
Kingdom with respect to any Pre-Distribution Period for which the Company was unable to file group relief claims with respect to the SpinCo Group.

“” or “” means any income, gross income, gross receipts, profits, capital stock, franchise,
withholding, payroll, social security, workers compensation, unemployment, disability, property, ad valorem, value added, stamp, excise, severance, occupation, service, digital services, environmental, sales, consumption, turnover, goods and
services, use, license, lease, transfer, import, export, customs duty, escheat, alternative minimum, estimated or other tax (including any fee, assessment, or other charge in the nature of or in lieu of any tax), imposed by any Governmental Entity
or political subdivision thereof, and any interest, penalty, additions to tax or additional amounts in respect of the foregoing.

“” means Debevoise & Plimpton LLP, Ernst & Young LLP, KPMG LLP or another law firm or
accounting firm, in each case of nationally recognized standing.

“” means a net operating loss, net
capital loss, unused investment credit, unused foreign Tax credit (including credits of a foreign company under Section 902 of the Code), excess charitable contribution, general business credit, research and development credit, earnings and
profits, basis, or any other Tax Item that could reduce a Tax or create a Tax Benefit.

12

“” means, with respect to any Tax, the Governmental Entity
or political subdivision thereof that imposes such Tax, and the agency (if any) charged with the collection of such Tax for such entity or subdivision.

“” means a reduction in the Tax liability (or increase in a Tax Refund) of a Party (or any of its Subsidiaries)
for any Tax Period arising from a net operating loss, credit, adjustment to tax basis or similar item that is utilized or realized in accordance with of this Agreement.

“” means an audit, review, examination, contest, litigation, investigation or any other administrative or
judicial proceeding with the purpose or effect of redetermining Taxes (including any administrative or judicial review of any claim for refund).

“” means