Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 186

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 186
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including the Restructuring Plan) and/or the applicable Transfer Documents and owned or assumed by the Party (or member of its Group) to whom the Asset or Liability
is transferred for U.S. federal and applicable state or local income tax purposes from and after such time, to the extent permitted by applicable Law.

(e) Waiver of Bulk Sale and Bulk Transfer Laws. SpinCo hereby waives compliance by each member of the Company Group with
the requirements and provisions of any “bulk sale” or “bulk transfer” Laws of any jurisdiction that may otherwise be applicable with respect to the transfer or sale of any or all of the SpinCo Assets to any member of the
SpinCo Group. The Company hereby waives compliance by each member of the SpinCo Group with the requirements and provisions of any “bulk sale” or “bulk transfer” Laws of any jurisdiction that may otherwise be applicable with
respect to the transfer or sale of any or all of the Company Assets to any member of the Company Group.

2.2 .

(a) SpinCo Assets. For purposes of this Agreement, “” shall mean:

(i) all issued and outstanding capital stock or other equity interests of the Transferred Entities that are owned by either
Party or any members of its Group as of the Distribution Effective Time;

(ii) all Assets of either Party or any of the
members of its Group as of the Distribution Effective Time that are expressly provided by this Agreement or any Ancillary Agreement as Assets to be transferred to SpinCo or any other member of the SpinCo Group;

(iii) all SpinCo Contracts as of the Distribution Effective Time and all rights, interests or claims of either Party or any of
the members of its Group thereunder as of the Distribution Effective Time;

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(iv) all SpinCo Intellectual Property as of the Distribution Effective Time
and all rights, interests or claims of either Party or any of the members of its Group thereunder as of the Distribution Effective Time;

(v) the SpinCo IT Assets as of the Distribution Effective Time and all rights, interests or claims of either Party or any of
the members of its Group thereunder as of the Distribution Effective Time;

(vi) all SpinCo Permits as of the Distribution
Effective Time and all rights, interests or claims of either Party or any of the members of its Group thereunder as of the Distribution Effective Time;

(vii) all rights and interests in and to bank accounts used or held for use primarily in the SpinCo Business, including any
cash and cash equivalents held