Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 271

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 271
---
 Non-U.S. DB Plan.

“” means an award of units representing a general unsecured promise by SpinCo to deliver SpinCo Shares (or the cash equivalent thereof) upon the satisfaction of a vesting requirement (other than a performance based vesting
requirement).

“” shall have the meaning ascribed to it in the Separation Agreement.

“” means each Benefit Plan separately identified
on to this Agreement as a SpinCo Splitting Non-Qualified Plan.

“” means each Benefit Plan separately identified
on to this Agreement as a SpinCo Splitting Non-U.S. DB Plan.

“” means the quotient obtained by dividing () the Pre-Spin Company Stock Value by () the sum of () the Post-Spin SpinCo Stock Value and () the quotient obtained by dividing () the
Post-Spin Company Stock Value by () the Distribution Ratio.

“” means
employees who are transferred or assigned from a SpinCo Group Member to a Company Group Member pursuant to .

“” shall have the meaning set forth in .

“” shall have the meaning ascribed to it in the Separation Agreement.

“” shall have the meaning set forth in .

“” shall have the meaning ascribed to it in the Tax Matters Agreement.

“” shall have the meaning ascribed to it in the Separation Agreement.

“” shall have the meaning ascribed to it in the Recitals to this Agreement. For the avoidance of doubt,
references to the Transactions herein shall not be deemed to refer to the Merger (as defined in the Separation Agreement).

“” means any Laws implementing EC Directive 2001/23/EC (the Acquired Rights Directive) and, in respect
of any non-European Union jurisdictions, any analogous legislation providing for the automatic transfer of employees on a transfer of an undertaking (including but not limited to, in respect of the United
Kingdom, the Transfer of Undertakings (Protection of Employment) Regulations 2006)).

“” means
each member of the SpinCo Board as of immediately prior to the Distribution Effective Time who served on the Company Board immediately prior to the Distribution Effective Time and who ceased to serve on the Company Board as of the Distribution
Effective Time.

-9-

“” shall have the meaning ascribed to it in
the Separation Agreement.

“” means the United States of America.

ARTICLE II

EMPLOYEE TRANSFERS

Section 2.1 . Except as otherwise agreed in
writing between the Parties, the Parties shall, or shall cause the applicable