Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 360

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 360
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 written.

| [DELIGHT] GLOBAL MEDIA, INC. |     |        |     |     |
| By                           |     |        |     |     |
|                              |     | Name:  |     | [•] |
|                              |     | Title: |     | [•] |
| [NEW WONDER]                 |     |        |     |     |
| By                           |     |        |     |     |
|                              |     | Name:  |     | [•] |
|                              |     | Title: |     | [•] |

Signature Page to Tax Matters Agreement

Schedule A

Scheduled Tax Refunds

Schedule B

Coordination Provisions with the Existing TMA

Schedule C

Scheduled Production Incentives

Schedule D

Descriptions of Company ATB and SpinCo ATB

Schedule E

Specified U.S. Internal Restructuring Transactions

Exhibit F

Transition Services Agreement

Agreed Form

TRANSITION SERVICES AGREEMENT

by and between

[DELIGHT GLOBAL MEDIA, INC.]

and

[NEW WONDER]

Dated as of [•], 202[•]

TRANSITION SERVICES AGREEMENT Table of Contents

|              |     |                                                             |     | Page |    |
| ARTICLE I    |     | SERVICES                                                    |     |      |  1 |
| Section 1.1  |     | Provision of Services                                       |     |      |  1 |
| Section 1.2  |     | Quality and Scope of Services                               |     |      |  2 |
| Section 1.3  |     | Omitted Services and Additional Services                    |     |      |  3 |
| Section 1.4  |     | Use of Affiliates and Third-Party Vendors                   |     |      |  4 |
| Section 1.5  |     | Disclaimer of Warranties                                    |     |      |  4 |
| Section 1.6  |     | Independent Contractors; Employees; Equipment and Systems   |     |      |  5 |
| Section 1.7  |     | Third-Party Consents                                        |     |      |  6 |
| Section 1.8  |     | Cooperation; Resources                                      |     |      |  7 |
| Section 1.9  |     | Information from Service Recipient; No Duty of Verification |     |      |  8 |
| Section 1