Typically most DBA's use:
db2 -tvf file_name.sql > file_name.out
Note that file_name.sql can be any file name, and does not have to have a file type of "sql". Neither does the output file have to have a file type of "out".
If you want to specify a different SQL delimiter (other than default ";"), then you can do this (assuming "@" is your delimiter).
db2 -td@ -vf file_name.sql > file_name.out
If your input file is in a different path than current path, you just specify the full path:
db2 -tvf c:\file_name.sql > file_name.out