Company: WBD
Filing Date: 2025-12-08
Form Type: 425
Source: 0001193125-25-310101
Chunk: 3

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-08
Form: 425
Chunk 3
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 to do, which is we’ve created a business model that ensures the ongoing production and creation of movies and television. And so, I think                          
 by putting more things in through that model, the more success we can all see.                                                                                                                                                     |
| Spencer Wang:    |     | Great. Thank you, Ted and Spence.                                                                                                                                                                                                  |
| Spence Neumann:  |     | Thank you.                                                                                                                                                                                                                         |
| Spencer Wang:    |     | Thank you all for your questions and for joining us today, particularly on short notice. We’re super excited about this next chapter for Netflix and Warner Brothers together, and we look forward to sharing more with you all in 
 the coming months. Thanks and have a great day.                                                                                                                                                                                    |
| Ted Sarandos:    |     | Thanks everybody.                                                                                                                                                                                                                  |
| Operator (Jen):  |     | And this concludes today’s conference call. Thank you.                                                                                                                                                                             |

* * *

NO OFFER OR SOLICITATION

This communication is for informational purposes only and does not constitute, or form a part of, an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

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This document contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A
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words such as “expect,” “anticipate,” “int