2017 Annual Meeting Materials

Time Warner Inc. held its Annual Meeting of Shareholders on
Thursday, June 15, 2017, at 9:30 a.m. (local time) at:

Warner Bros. Studios
4000 Warner Boulevard
Burbank, CA 91522

Title
2017 Proxy Statement
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2016 Annual Report to Shareholders
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2017 Proxy Statement Summary
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As part of Time Warner Inc.’s regular ongoing engagement with shareholders, Time Warner had a number of meetings with shareholders. The attached Proxy Statement Summary facilitated discussions at those meetings. The Proxy Statement Summary presents information regarding Time Warner’s business, performance, pending merger with AT&T Inc., executive compensation programs (including a transaction-related compensation program), director nominees, corporate responsibility and sustainability practices, and governance practices taken from Time Warner’s Proxy Statement for its 2017 Annual Meeting of Shareholders.

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Shareholder Education

For general educational information about your rights as a shareholder and the proxy voting process, the following Securities and Exchange Commission websites may be helpful to you: