Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 328

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 328
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 not required to be reported on any Tax Return for any Tax Period.

(c) For purposes of this , in
the case of a SpinCo Combined Return, (i) Taxes imposed on a periodic basis that are not Income Taxes shall be apportioned between the portion of such Straddle Period ending on the Distribution Date and the portion of such Straddle Period
beginning after the Distribution Date on the basis of the elapsed days during the relevant portion of the Tax Period and (ii) any other Taxes shall be apportioned between the portion of such Straddle Period ending on the Distribution Date and
the portion of such Straddle Period beginning after the Distribution Date based on a closing of the books and records on the close of the Distribution Date (and in the event that the Distribution Date is not the last day of the Tax Period, as if the
Distribution Date were the last day of the Tax Period).

Section 2.02 .

(a) Except as provided in , the Company shall be allocated all Separation Taxes.

(b) If the Merger is not consummated and the Merger Agreement is terminated, SpinCo shall be allocated all Separation Taxes arising as a
result of the failure of any of the Transactions to qualify for the Intended U.S. Tax Treatment described in clause (a) of the definition thereof that would not have arisen but for a SpinCo Tainting Act, that a Company Tainting
Act has not occurred prior to such SpinCo Tainting Act.

Section 2.03 . The Company shall be
allocated all Transfer Taxes.

Section 2.04 . shall be deemed
incorporated by reference as if fully set forth herein.

Section 2.05 . Except as
otherwise required by applicable Law, (i) solely the member of the Group by which the relevant individual is employed at the time of the vesting, exercise, disqualifying disposition, payment or other relevant taxable event that fixes the timing
of the applicable Income Tax deduction in respect of any equity awards and other incentive compensation (including restricted stock units) other than options, or, if such individual is not employed

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at such time by a member of the Group, solely the member of the Group for which the individual was most recently employed, shall be entitled to claim any such Income Tax deduction associated with
such event in respect of such equity awards and other incentive compensation on its respective Tax Return and (ii) in the case of any options, solely the member of the Group by which the relevant individual is employed