Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 170

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 170
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 extent not otherwise covered by the “comfort letters” described herein.

“” shall mean the Data Processing Agreement that may be entered into by and between the Company
and SpinCo or members of their respective Groups in connection with the Separation, the Distribution and the other transactions contemplated by this Agreement pursuant to .

“” shall have the
meaning set forth in the Recitals.

10

“” shall have the meaning set forth in
.

“” shall have the meaning set forth in
.

“” shall have the meaning set forth in
.

“” shall have the meaning set forth in
.

“” shall have the meaning set forth in the Recitals.

“” shall mean any registration statement (including the Form 10) filed with the SEC by or on behalf
of either Party or any member of its Group and also includes any information statement (including the Information Statement), prospectus, offering memorandum, offering circular, periodic report or similar disclosure document, whether or not filed
with the SEC or any other Governmental Authority, including any such disclosure document which offers for sale or registers the transfer or distribution of securities or indebtedness of, with respect to SpinCo, the SpinCo Group (including, for the
avoidance of doubt, the SpinCo Financing Arrangements) or, with respect to the Company, the Company Group (including, for the avoidance of doubt, the Company Financing Arrangements), in each case which describes the Separation or the Distribution or
the SpinCo Group or primarily relates to the transactions contemplated by this Agreement (including, for the avoidance of doubt, the Distribution and the Debt-for-Debt
Exchange) but excluding any document prepared by Buyer or its Subsidiaries or which primarily relates to the Merger.

“” shall have the meaning set forth in .

“” shall have the meaning set forth in the Recitals.

“” shall mean the date of the consummation of the Distribution; that the Distribution Date
shall be the first calendar day of a month or if such first calendar day of a month is not a Business Day, the Company, in its sole and absolute discretion, may elect for the Distribution Date to be the next Business Day following such first
calendar day of a month.

“” shall mean 12:01 a.m., Eastern time, on the Distribution Date.

“” shall mean the Employee Matters Agreement to be entered into by and between the Company
and SpinCo or members of their respective Groups in connection with the Separation, the Distribution and