Warner Bros. Discovery, Inc. — Director's Dealing 2019

May 17, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Discovery, Inc. (DISCA)
CIK: 0001437107
Period of Report: 2019-05-15

Reporting Person: MALONE JOHN C (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-15	Series A Common Stock	M	3649	$25.803	Acquired	789213	Direct
2019-05-15	Series A Common Stock	F	3393	$27.75	Disposed	785820	Direct
2019-05-15	Series C Common Stock	M	3649	$25.027	Acquired	7651426	Direct
2019-05-15	Series C Common Stock	F	3489	$29.18	Disposed	7647937	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-15	Director Stock Option (right to acquire)	$25.803	M	3649	Disposed	2019-05-15	Series A Common Stock (3649)	Direct
2019-05-15	Director Stock Option (right to acquire)	$25.027	M	3649	Disposed	2019-05-15	Series C Common Stock (3649)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Series A Common Stock	850000	Indirect
Series A Common Stock	268337	Indirect
Series C Common Stock	557000	Indirect
Series C Common Stock	1316424	Indirect

Footnotes

F1: The Reporting Person is the sole trustee of, and with his spouse, retains a unitrust interest in the trust.

F2: The reporting person disclaims beneficial ownership of the shares owned by his spouse.

F3: This option is fully vested and exercisable.