Sec Form 4 Filing - Campbell Bruce @ Warner Bros. Discovery, Inc. - 2024-02-26

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Campbell Bruce 2. Issuer Name and Ticker or Trading Symbol Warner Bros. Discovery, Inc. [ WBD] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Rev & Strategy Officer (Last) (First) (Middle) 230 PARK AVENUE SOUTH 3. Date of Earliest Transaction (MM/DD/YY) 02/26/2024 (Street) NEW YORK, NY10003 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Series A Common Stock 02/26/2024 A 272,088 ( 1 ) A $ 0 675,288 D Series A Common Stock 02/26/2024 A 256,082 ( 2 ) A $ 0 931,370 D Series A Common Stock 209,700 I By spouse as trustee for children Series A Common Stock 145,418 I By LLC through grantor retained annuity trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Campbell Bruce 230 PARK AVENUE SOUTH NEW YORK, NY10003 Chief Rev & Strategy Officer Signatures Tara L. Smith, by power of attorney 02/28/2024 Signature of Reporting Person Date

Explanation of Responses:

( 1 )These shares represent the target amount of performance-based restricted stock units granted to the reporting person in March 2023. On February 26, 2024, the Compensation Committee determined that certain performance criteria had been met. ( 2 )These shares represent performance-based restricted stock units granted to the reporting person in March 2023 ("PRSUs") and were earned based solely on WBD's 2023 free cash flow ("FCF") performance in relation to a pre-established target. On February 26, 2024, the WBD Compensation Committee certified that WBD's 2023 FCF performance, excluding the FCF benefit derived from the 2023 guild strikes, was significantly above the established target, resulting in these PRSUs being earned at 200% of target.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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