Warner Bros. Discovery, Inc. — Director's Dealing 2020

Feb 19, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Discovery, Inc. (DISCA)
CIK: 0001437107
Period of Report: 2020-02-14

Reporting Person: ADVANCE LONG-TERM MANAGEMENT TRUST (Director, 10% Owner)
Reporting Person: NEWHOUSE BROADCASTING CORP (10% Owner)
Reporting Person: ADVANCE PUBLICATIONS, INC (10% Owner)
Reporting Person: NEWHOUSE FAMILY HOLDINGS, L.P. (10% Owner)
Reporting Person: ADVANCE/NEWHOUSE PARTNERSHIP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-14	Series C Common Stock	S	9500000	$30.0750	Disposed	2	Indirect

Footnotes

F1: On February 14, 2020, Advance/Newhouse Partnership ("A/NP") sold 9,500,000 shares of Series C Common Stock ("Common Shares") to an unaffiliated financial institution pursuant to a post-paid forward transaction at a price based on the volume weighted average price of the Common Shares over a period of time determined by the financial institution, subject to an agreed minimum and maximum period.

F2: A/NP is the record holder of the Common Shares described above. The other reporting persons may be deemed to beneficially own the Common Shares due to their control of A/NP. Each reporting person disclaims beneficial ownership except to the extent of its pecuniary interest.