Company: WBD
Filing Date: 2025-02-27
Form Type: S-3ASR
Source: 0001193125-25-039203
Chunk: 37

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-02-27
Form: S-3ASR
Chunk 37
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 the times and at the redemption prices set forth in such prospectus supplement. The applicable prospectus supplement relating to a series of preferred stock that is subject to mandatory redemption will specify the number of shares of such series of preferred stock that shall be redeemed by WBD in each year commencing after a date to be specified, at a redemption price per share to be specified, together with an amount equal to all accrued and unpaid dividends thereon to the date of redemption. Unless the shares have a cumulative dividend, such accrued dividends will not include any accumulation in respect of unpaid dividends for prior dividend periods. WBD may pay the redemption price in cash or other property, as specified in the applicable prospectus supplement. If the redemption price for preferred stock of any series is payable only from the net proceeds of the issuance of shares of WBD’s capital stock, the terms of such preferred stock may provide that, if no such shares of its capital stock shall have been issued or to the extent the net proceeds from any issuance are insufficient to pay in full the aggregate redemption price then due, such preferred stock shall automatically and mandatorily be converted into the applicable shares of WBD’s capital stock pursuant to conversion provisions specified in the applicable prospectus supplement. Notwithstanding the foregoing, WBD will not redeem any preferred stock of a series unless:

| • |     | if that series of preferred stock has a cumulative dividend, WBD has declared and paid or contemporaneously                                
 declares and pays or sets aside funds to pay full cumulative dividends on the preferred stock for the past and current dividend period; or |

| • |     | if such series of preferred stock does not have a cumulative dividend, WBD has declared and paid or            
 contemporaneously declares and pays or sets aside funds to pay full dividends for the current dividend period. |

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In addition, WBD will not acquire any preferred stock of a series unless:

| • |     | if that series of preferred stock has a cumulative dividend, WBD has declared and paid or contemporaneously                                                                                               
 declares and pays or sets aside funds to pay full cumulative dividends on all outstanding shares of such series of preferred stock for all past dividend periods and the then current dividend period; or |

| • |     | if that series of preferred stock does not have a cumulative dividend, WBD has declared and paid or                                                       
 contemporaneously declares and pays or sets aside funds to pay full dividends on the preferred stock of such series for the then current dividend period. |

However, at any time WBD may purchase or acquire preferred