Warner Bros. Discovery, Inc.

SEC source: 0000950170-25-081744 · ownership.xml · nonDerivative · entry 1

Warner Bros. Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · By subsidiary

Disclosed balance after: 0

F1 · kind: On June 2, 2025, Discovery Lightning Investments Ltd. ("DLI") entered into an agreement with MHR Capital Partners Master Account LP and MHR Capital Partners (100) LP (together, the "MHR Entities"), pursuant to which the MHR Entities agreed to purchase 353,334 common shares, no par value ("Common Shares"), of Starz Entertainment Corp. (the "Issuer") from DLI in a private transaction for aggregate cash consideration of $5,000,000. Following the consummation of such transaction on June 3, 2025, DLI ceased to own any Common Shares.

F1 · price: On June 2, 2025, Discovery Lightning Investments Ltd. ("DLI") entered into an agreement with MHR Capital Partners Master Account LP and MHR Capital Partners (100) LP (together, the "MHR Entities"), pursuant to which the MHR Entities agreed to purchase 353,334 common shares, no par value ("Common Shares"), of Starz Entertainment Corp. (the "Issuer") from DLI in a private transaction for aggregate cash consideration of $5,000,000. Following the consummation of such transaction on June 3, 2025, DLI ceased to own any Common Shares.

F2 · ownership.direct: The shares are held directly by DLI. Because DLI is an indirect wholly-owned subsidiary of Warner Bros. Discovery, Inc. ("WBD"), WBD may be deemed to beneficially own the reported securities. WBD expressly disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest therein.

SEC source: 0000950170-25-067150 · ownership.xml · nonDerivative · entry 4

Warner Bros. Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · By subsidiary

Disclosed balance after: 353,334

F3 · kind: Following the exchange of Class A Voting Shares and Class B Non-Voting Shares for Common Shares, the Common Shares were consolidated on a 15-to-1 basis such that every fifteen (15) Common Shares were consolidated into one (1) Common Share.

F3 · price: Following the exchange of Class A Voting Shares and Class B Non-Voting Shares for Common Shares, the Common Shares were consolidated on a 15-to-1 basis such that every fifteen (15) Common Shares were consolidated into one (1) Common Share.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Ltd. ("DLI"). Because DLI is an indirect wholly-owned subsidiary of Warner Bros. Discovery, Inc. ("WBD"), WBD may be deemed to beneficially own the reported securities. WBD expressly disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest therein.

SEC source: 0000950170-25-067150 · ownership.xml · nonDerivative · entry 3

Warner Bros. Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · By subsidiary

Disclosed balance after: 5,300,000

F1 · kind: On May 6, 2025, Lions Gate Entertainment Corp. ("LGEC") completed the separation of its motion picture and television studio operations businesses from its other businesses through a series of transactions (the "Transactions"). In connection with the completion of the Transactions, Lions Gate Entertainment Corp. was renamed Starz Entertainment Corp. (the "Issuer"). Pursuant to the Transactions, following a series of exchanges, among other things, (1) each Class A voting share, no par value, of LGEC ("Class A Voting Shares") was ultimately exchanged for one and twelve one-hundredths (1.12) common shares, no par value, of the Issuer ("Common Shares") and (2) each Class B non-voting share, no par value, of LGEC ("Class B Non-Voting Shares") was ultimately exchanged for one (1) Common Share.

F1 · price: On May 6, 2025, Lions Gate Entertainment Corp. ("LGEC") completed the separation of its motion picture and television studio operations businesses from its other businesses through a series of transactions (the "Transactions"). In connection with the completion of the Transactions, Lions Gate Entertainment Corp. was renamed Starz Entertainment Corp. (the "Issuer"). Pursuant to the Transactions, following a series of exchanges, among other things, (1) each Class A voting share, no par value, of LGEC ("Class A Voting Shares") was ultimately exchanged for one and twelve one-hundredths (1.12) common shares, no par value, of the Issuer ("Common Shares") and (2) each Class B non-voting share, no par value, of LGEC ("Class B Non-Voting Shares") was ultimately exchanged for one (1) Common Share.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Ltd. ("DLI"). Because DLI is an indirect wholly-owned subsidiary of Warner Bros. Discovery, Inc. ("WBD"), WBD may be deemed to beneficially own the reported securities. WBD expressly disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest therein.

SEC source: 0000950170-25-067150 · ownership.xml · nonDerivative · entry 2

Warner Bros. Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · By subsidiary

Disclosed balance after: 0

F1 · kind: On May 6, 2025, Lions Gate Entertainment Corp. ("LGEC") completed the separation of its motion picture and television studio operations businesses from its other businesses through a series of transactions (the "Transactions"). In connection with the completion of the Transactions, Lions Gate Entertainment Corp. was renamed Starz Entertainment Corp. (the "Issuer"). Pursuant to the Transactions, following a series of exchanges, among other things, (1) each Class A voting share, no par value, of LGEC ("Class A Voting Shares") was ultimately exchanged for one and twelve one-hundredths (1.12) common shares, no par value, of the Issuer ("Common Shares") and (2) each Class B non-voting share, no par value, of LGEC ("Class B Non-Voting Shares") was ultimately exchanged for one (1) Common Share.

F1 · price: On May 6, 2025, Lions Gate Entertainment Corp. ("LGEC") completed the separation of its motion picture and television studio operations businesses from its other businesses through a series of transactions (the "Transactions"). In connection with the completion of the Transactions, Lions Gate Entertainment Corp. was renamed Starz Entertainment Corp. (the "Issuer"). Pursuant to the Transactions, following a series of exchanges, among other things, (1) each Class A voting share, no par value, of LGEC ("Class A Voting Shares") was ultimately exchanged for one and twelve one-hundredths (1.12) common shares, no par value, of the Issuer ("Common Shares") and (2) each Class B non-voting share, no par value, of LGEC ("Class B Non-Voting Shares") was ultimately exchanged for one (1) Common Share.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Ltd. ("DLI"). Because DLI is an indirect wholly-owned subsidiary of Warner Bros. Discovery, Inc. ("WBD"), WBD may be deemed to beneficially own the reported securities. WBD expressly disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest therein.

SEC source: 0000950170-25-067150 · ownership.xml · nonDerivative · entry 1

Warner Bros. Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · By subsidiary

Disclosed balance after: 0

F1 · kind: On May 6, 2025, Lions Gate Entertainment Corp. ("LGEC") completed the separation of its motion picture and television studio operations businesses from its other businesses through a series of transactions (the "Transactions"). In connection with the completion of the Transactions, Lions Gate Entertainment Corp. was renamed Starz Entertainment Corp. (the "Issuer"). Pursuant to the Transactions, following a series of exchanges, among other things, (1) each Class A voting share, no par value, of LGEC ("Class A Voting Shares") was ultimately exchanged for one and twelve one-hundredths (1.12) common shares, no par value, of the Issuer ("Common Shares") and (2) each Class B non-voting share, no par value, of LGEC ("Class B Non-Voting Shares") was ultimately exchanged for one (1) Common Share.

F1 · price: On May 6, 2025, Lions Gate Entertainment Corp. ("LGEC") completed the separation of its motion picture and television studio operations businesses from its other businesses through a series of transactions (the "Transactions"). In connection with the completion of the Transactions, Lions Gate Entertainment Corp. was renamed Starz Entertainment Corp. (the "Issuer"). Pursuant to the Transactions, following a series of exchanges, among other things, (1) each Class A voting share, no par value, of LGEC ("Class A Voting Shares") was ultimately exchanged for one and twelve one-hundredths (1.12) common shares, no par value, of the Issuer ("Common Shares") and (2) each Class B non-voting share, no par value, of LGEC ("Class B Non-Voting Shares") was ultimately exchanged for one (1) Common Share.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Ltd. ("DLI"). Because DLI is an indirect wholly-owned subsidiary of Warner Bros. Discovery, Inc. ("WBD"), WBD may be deemed to beneficially own the reported securities. WBD expressly disclaims beneficial ownership of the reported securities, except to the extent of its pecuniary interest therein.

SEC source: 0001209191-20-021256 · doc4.xml · derivative · entry 2

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 0

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 1,666,667 shares

Expires not disclosed

F1 · kind: On March 17, 2020, Tranche 2 and Tranche 3 of the Transaction (as defined and described below) were cancelled pursuant to the Termination Agreement (as defined and described below). As a result, the Reporting Person will receive $44,331,834.40 in cash from the Bank based on the volume weighted average price of the Class A Voting Shares between March 18, 2020 and March 24, 2020 pursuant to the terms of the Termination Agreement.

F1 · price: On March 17, 2020, Tranche 2 and Tranche 3 of the Transaction (as defined and described below) were cancelled pursuant to the Termination Agreement (as defined and described below). As a result, the Reporting Person will receive $44,331,834.40 in cash from the Bank based on the volume weighted average price of the Class A Voting Shares between March 18, 2020 and March 24, 2020 pursuant to the terms of the Termination Agreement.

F2 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction related to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F3 · price: The Transaction was divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive. As reported on previously filed Forms 4, the Components constituting Tranche 1 were exercised or expired between July 25, 2019 and August 28, 2019.

F4 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · price: Each Component related to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F7 · price: On March 17, 2020, Discovery and the Bank entered into a termination agreement (the "Termination Agreement"), pursuant to which the remaining options under Tranche 2 and Tranche 3 of the Transaction were canceled.

F8 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with settlement of the put options in Tranche 1, described above, the number of pledged shares was reduced to cover 833,334 Class A Voting Shares and 833,334 Class B Non-Voting Shares. In connection with the Termination Agreement, Discovery's pledge of 833,333 Class A Voting Shares and 833,334 Class B Non-Voting Shares was fully released and discharged.

F2 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction related to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F3 · derivative.exercise_date: The Transaction was divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive. As reported on previously filed Forms 4, the Components constituting Tranche 1 were exercised or expired between July 25, 2019 and August 28, 2019.

F4 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · derivative.exercise_date: Each Component related to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F7 · derivative.exercise_date: On March 17, 2020, Discovery and the Bank entered into a termination agreement (the "Termination Agreement"), pursuant to which the remaining options under Tranche 2 and Tranche 3 of the Transaction were canceled.

F2 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction related to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F3 · derivative.expiration_date: The Transaction was divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive. As reported on previously filed Forms 4, the Components constituting Tranche 1 were exercised or expired between July 25, 2019 and August 28, 2019.

F4 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · derivative.expiration_date: Each Component related to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F7 · derivative.expiration_date: On March 17, 2020, Discovery and the Bank entered into a termination agreement (the "Termination Agreement"), pursuant to which the remaining options under Tranche 2 and Tranche 3 of the Transaction were canceled.

F1 · derivative.underlying_shares: On March 17, 2020, Tranche 2 and Tranche 3 of the Transaction (as defined and described below) were cancelled pursuant to the Termination Agreement (as defined and described below). As a result, the Reporting Person will receive $44,331,834.40 in cash from the Bank based on the volume weighted average price of the Class A Voting Shares between March 18, 2020 and March 24, 2020 pursuant to the terms of the Termination Agreement.

F9 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-20-021256 · doc4.xml · derivative · entry 1

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 0

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 1,666,667 shares

Expires not disclosed

F1 · kind: On March 17, 2020, Tranche 2 and Tranche 3 of the Transaction (as defined and described below) were cancelled pursuant to the Termination Agreement (as defined and described below). As a result, the Reporting Person will receive $44,331,834.40 in cash from the Bank based on the volume weighted average price of the Class A Voting Shares between March 18, 2020 and March 24, 2020 pursuant to the terms of the Termination Agreement.

F1 · price: On March 17, 2020, Tranche 2 and Tranche 3 of the Transaction (as defined and described below) were cancelled pursuant to the Termination Agreement (as defined and described below). As a result, the Reporting Person will receive $44,331,834.40 in cash from the Bank based on the volume weighted average price of the Class A Voting Shares between March 18, 2020 and March 24, 2020 pursuant to the terms of the Termination Agreement.

F2 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction related to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F3 · price: The Transaction was divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive. As reported on previously filed Forms 4, the Components constituting Tranche 1 were exercised or expired between July 25, 2019 and August 28, 2019.

F4 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · price: Each Component related to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F7 · price: On March 17, 2020, Discovery and the Bank entered into a termination agreement (the "Termination Agreement"), pursuant to which the remaining options under Tranche 2 and Tranche 3 of the Transaction were canceled.

F8 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with settlement of the put options in Tranche 1, described above, the number of pledged shares was reduced to cover 833,334 Class A Voting Shares and 833,334 Class B Non-Voting Shares. In connection with the Termination Agreement, Discovery's pledge of 833,333 Class A Voting Shares and 833,334 Class B Non-Voting Shares was fully released and discharged.

F2 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction related to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F3 · derivative.exercise_date: The Transaction was divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive. As reported on previously filed Forms 4, the Components constituting Tranche 1 were exercised or expired between July 25, 2019 and August 28, 2019.

F4 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · derivative.exercise_date: Each Component related to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F7 · derivative.exercise_date: On March 17, 2020, Discovery and the Bank entered into a termination agreement (the "Termination Agreement"), pursuant to which the remaining options under Tranche 2 and Tranche 3 of the Transaction were canceled.

F2 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction related to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F3 · derivative.expiration_date: The Transaction was divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive. As reported on previously filed Forms 4, the Components constituting Tranche 1 were exercised or expired between July 25, 2019 and August 28, 2019.

F4 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · derivative.expiration_date: Each Component related to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F7 · derivative.expiration_date: On March 17, 2020, Discovery and the Bank entered into a termination agreement (the "Termination Agreement"), pursuant to which the remaining options under Tranche 2 and Tranche 3 of the Transaction were canceled.

F1 · derivative.underlying_shares: On March 17, 2020, Tranche 2 and Tranche 3 of the Transaction (as defined and described below) were cancelled pursuant to the Termination Agreement (as defined and described below). As a result, the Reporting Person will receive $44,331,834.40 in cash from the Bank based on the volume weighted average price of the Class A Voting Shares between March 18, 2020 and March 24, 2020 pursuant to the terms of the Termination Agreement.

F9 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047637 · doc4.xml · derivative · entry 5

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,666,650

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-28

F1 · kind: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F4 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F7 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F8 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F3 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F4 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F7 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F3 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F4 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F5 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F6 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F7 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F1 · derivative.underlying_shares: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047637 · doc4.xml · nonDerivative · entry 4

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F1 · kind: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047637 · doc4.xml · nonDerivative · entry 3

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F1 · kind: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047637 · doc4.xml · nonDerivative · entry 2

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F1 · kind: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047637 · doc4.xml · nonDerivative · entry 1

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F1 · kind: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 28, 2019, the twenty-fifth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 6 below) of $9.600, which was below the Put Strike Price. As a result, the Reporting Person received $23.567 for each unit (as described in note 3 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · derivative · entry 15

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,699,984

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-27

F4 · kind: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F4 · derivative.underlying_shares: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 12

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F4 · kind: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 11

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F4 · kind: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 10

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F4 · kind: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 9

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F4 · kind: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 27, 2019, the twenty-fourth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $9.954, which was below the Put Strike Price. As a result, the Reporting Person received $23.213 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · derivative · entry 14

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,733,318

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-26

F3 · kind: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F3 · derivative.underlying_shares: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 8

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F3 · kind: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 7

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F3 · kind: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 6

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F3 · kind: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 5

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F3 · kind: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 26, 2019, the twenty-third Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.240, which was below the Put Strike Price. As a result, the Reporting Person received $22.927 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · derivative · entry 13

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,766,652

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-23

F1 · kind: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F1 · derivative.underlying_shares: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 4

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F1 · kind: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 3

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F1 · kind: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 2

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F1 · kind: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047557 · doc4.xml · nonDerivative · entry 1

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F1 · kind: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 23, 2019, the twenty-second Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.275, which was below the Put Strike Price. As a result, the Reporting Person received $22.892 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · derivative · entry 15

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,799,986

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-22

F4 · kind: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F4 · derivative.underlying_shares: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 12

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F4 · kind: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 11

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F4 · kind: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 10

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F4 · kind: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 9

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F4 · kind: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 22, 2019, the twenty-first Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.458, which was below the Put Strike Price. As a result, the Reporting Person received $22.709 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · derivative · entry 14

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,833,320

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-21

F3 · kind: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F3 · derivative.underlying_shares: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 8

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F3 · kind: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 7

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F3 · kind: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 6

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F3 · kind: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 5

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F3 · kind: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 21, 2019, the twentieth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.476, which was below the Put Strike Price. As a result, the Reporting Person received $22.691 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · derivative · entry 13

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,866,654

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-20

F1 · kind: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F1 · derivative.underlying_shares: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 4

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F1 · kind: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 3

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F1 · kind: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 2

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F1 · kind: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-047155 · doc4.xml · nonDerivative · entry 1

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F1 · kind: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F1 · price: On August 20, 2019, the nineteenth Component of Tranche I of the Transaction (as defined and described below) expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.632, which was below the Put Strike Price. As a result, the Reporting Person received $22.535 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · derivative · entry 15

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,899,988

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-19

F4 · kind: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F4 · derivative.underlying_shares: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · nonDerivative · entry 12

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F4 · kind: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · nonDerivative · entry 11

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F4 · kind: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · nonDerivative · entry 10

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F4 · kind: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · nonDerivative · entry 9

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,483,333

F4 · kind: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F4 · price: On August 19, 2019, the eighteenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price of $10.795, which was below the Put Strike Price. As a result, the Reporting Person received $22.373 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · derivative · entry 14

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 1,933,322

Underlying: Units of Class A Voting Shares and Class B Non-Voting Shares · 33,334 shares

Expires 2019-08-16

F3 · kind: On August 16, 2019, the seventeenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.778, which was below the Put Strike Price. As a result, the Reporting Person received $22.390 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 16, 2019, the seventeenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.778, which was below the Put Strike Price. As a result, the Reporting Person received $22.390 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F5 · price: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · price: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · price: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · price: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · price: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F10 · price: As reported on a previously filed Form 4, in exchange for the Bank's entering into the Transaction, Discovery paid the Bank a premium of $3,599,595 and pledged 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares of the Issuer to the Bank to secure its obligations under the Transaction. In connection with each settlement of the put options described above, the number of pledged shares was reduced by 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares. In most circumstances, Discovery retains voting rights in the pledged shares during the term of the pledge, but Discovery is obligated to share with the Bank the economic benefit of any dividends paid during the term of the pledge based on a formula that takes into account a theoretical hedging position by the Bank.

F5 · derivative.exercise_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.exercise_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.exercise_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.exercise_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.exercise_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F5 · derivative.expiration_date: The Transaction is divided into three individual tranches (each a "Tranche") with each Tranche divided into 25 individual components (each a "Component"); the expiration dates of the options included in the Components constituting Tranche 1 are the 25 trading days from July 25, 2019 through August 28, 2019, inclusive; the expiration dates of the options included in the Components constituting Tranche 2 are the 25 trading days from October 23, 2020 through November 30, 2020, inclusive; and the expiration dates of the Components constituting Tranche 3 are the 25 trading days from January 25, 2022 through March 1, 2022, inclusive.

F6 · derivative.expiration_date: On the relevant expiration date for each Component: the call option will automatically be exercised if the Settlement Price is greater than $52.677 (the "Call Strike Price"); the put option will automatically be exercised if the reference price is less than or equal to $33.167 (the "Put Strike Price"); and the call right and the put right will expire unexercised if the reference price is greater than the Put Strike Price but less than the Call Strike Price.

F7 · derivative.expiration_date: The "Settlement Price" means the sum of (i) the volume weighted average trading price of a Class A Voting Share multiplied by 0.5 and (ii) the volume weighted average trading price of a Class B Non-Voting Share multiplied by 0.5, in each case on the expiration date for the relevant Component. The options will be settled in cash unless Discovery elects physical settlement.

F8 · derivative.expiration_date: As reported on a previously filed Form 4, on November 12, 2015, Discovery Lightning Investments Limited ("Discovery"), a wholly-owned subsidiary of Discovery, Inc., entered into a Collar Transaction (the "Transaction") with an unaffiliated bank (the "Bank"), pursuant to which Discovery wrote covered call options and purchased put options over an aggregate of 2,500,000 Common Shares. In connection with a reclassification of the Issuer's common shares, pursuant to a notice dated February 10, 2017 given by the Bank, the terms of the Transaction were adjusted in a transaction exempt under Rule 16b-7 to reflect the reclassification, with no changes to the economic rights and obligations of either Discovery or the Bank. As adjusted, the Transaction relates to 2,500,000 units, each consisting of 0.5 Class A Voting Shares and 0.5 Class B Non-Voting Shares, for an aggregate of 1,250,000 Class A Voting Shares and 1,250,000 Class B Non-Voting Shares.

F9 · derivative.expiration_date: Each Component relates to 16,667 Class A Voting Shares and 16,667 Class B Non-Voting Shares (or, in the case of the options included in the Components having the final expiration date for each Tranche, 16,658.5 Class A Voting Shares and 16,658.5 Class B Non-Voting Shares) in the case of Tranche 1 and Tranche 2 and 16,659 Class A Voting Shares and 16,659 Class B Non-Voting Shares in the case of Tranche 3).

F3 · derivative.underlying_shares: On August 16, 2019, the seventeenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.778, which was below the Put Strike Price. As a result, the Reporting Person received $22.390 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · nonDerivative · entry 8

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F3 · kind: On August 16, 2019, the seventeenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.778, which was below the Put Strike Price. As a result, the Reporting Person received $22.390 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 16, 2019, the seventeenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.778, which was below the Put Strike Price. As a result, the Reporting Person received $22.390 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.

SEC source: 0001209191-19-046676 · doc4.xml · nonDerivative · entry 7

Discovery, Inc. · CIK 0001437107 · See Remarks

Discovery Lightning Investments LTD · CIK 0001658101 · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By subsidiary

Disclosed balance after: 2,500,000

F3 · kind: On August 16, 2019, the seventeenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.778, which was below the Put Strike Price. As a result, the Reporting Person received $22.390 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F3 · price: On August 16, 2019, the seventeenth Component of Tranche I of the Transaction expired. The Component was cash settled at a Settlement Price (as defined and described in note 8 below) of $10.778, which was below the Put Strike Price. As a result, the Reporting Person received $22.390 for each unit (as described in note 5 below) in cash from the Bank pursuant to the terms of the Transaction.

F2 · ownership.direct: The shares are held directly by Discovery Lightning Investments Limited, an indirect wholly-owned subsidiary of Discovery, Inc.