WBD upsizes cash tender offer to ~$2.615B, accepts notes in priority levels 1-11

Warner Bros. Discovery, Inc.

Aggregate Tender Cap increased to approximately $2.615 billion (excluding accrued interest).
Issuers accepted for purchase all validly tendered notes in Acceptance Priority Levels 1 through 11 as of May 22, 2024.
No notes in Acceptance Priority Level 12 (WarnerMedia Holdings 5.050% Senior Notes due 2042) will be purchased.
Total consideration per $1,000 principal includes $30 early tender premium; pricing based on fixed spread over reference U.S. Treasury yields.
Settlement date for accepted notes expected June 12, 2024; no further tenders accepted after early deadline.

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