Company: SPH
Filing Date: 2025-02-21
Form Type: 424B5
Source: 0001193125-25-030891
Chunk: 34

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-21
Form: 424B5
Chunk 34
---
 connected to such a trade or
business. As a result, these unitholders will be required to file U.S. federal tax returns to report their share of our income, gain, loss, deduction or credit and pay U.S. federal income tax at regular rates on the unitholder’s share of our
net income or gain. The failure by a non-U.S. unitholder that owns common units to file any required U.S. federal income tax returns on a timely basis will result in the disallowance of otherwise allowable
deductions and credits that are effectively connected with the conduct of such trade or business in the United States. Moreover, under rules applicable to publicly traded partnerships, the relevant withholding agent will withhold at the highest
applicable effective tax rate from cash distributions made quarterly to non-U.S. unitholders. Withholding may apply regardless of whether we make distributions of cash, in which case a non-U.S. unitholder may have additional amounts due.

In addition, a
non-U.S. corporation that owns common units will, in addition to regular U.S. federal income tax, be subject to the United States branch profits tax at a rate of 30% on its share of our earnings and profits
that are effectively connected with the conduct of a U.S. trade or business, as adjusted for certain items and for changes in the non-U.S. corporation’s “U.S. net equity.” That tax may be
reduced or eliminated by an income tax treaty between the United States and the country in which the non-U.S. unitholder is a resident. In addition, this type of unitholder is subject to special information reporting requirements under
Section 6038C of the Code.

A non-U.S. unitholder who sells or otherwise disposes of a common
unit including by reason of a distribution in excess of basis will be subject to U.S. federal income tax (and, in the case of a non-U.S. corporation, possibly branch profits tax) on gain realized from the sale or disposition of that common unit to
the extent the gain is effectively connected with a U.S. trade or business of the non-U.S. unitholder. Gain on the sale

22

or disposition of a common unit will be treated as effectively connected with a U.S. trade or business to the extent that a non-U.S. unitholder would recognize gain effectively connected with a
U.S. trade or business upon the hypothetical sale of our assets at fair